<SEC-DOCUMENT>0000842180-20-000006.txt : 20200228
<SEC-HEADER>0000842180-20-000006.hdr.sgml : 20200228
<ACCEPTANCE-DATETIME>20200228150245
ACCESSION NUMBER:		0000842180-20-000006
CONFORMED SUBMISSION TYPE:	20-F
PUBLIC DOCUMENT COUNT:		318
CONFORMED PERIOD OF REPORT:	20191231
FILED AS OF DATE:		20200228
DATE AS OF CHANGE:		20200228

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:		20669123

	BUSINESS ADDRESS:	
		STREET 1:		CALLE AZUL 4
		CITY:			MADRID
		STATE:			U3
		ZIP:			28050
		BUSINESS PHONE:		011 34 91 537 8172

	MAIL ADDRESS:	
		STREET 1:		CALLE AZUL 4
		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>d20f2019.htm
<DESCRIPTION>DOCUMENT 20-F
<TEXT>

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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;tab-stops:center 216.0pt right 432.0pt;"><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 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=ES 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, 2019</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="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;tab-stops:center 216.0pt right 432.0pt;"><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><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="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;tab-stops:center 216.0pt right 432.0pt;"><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-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;">Securities registered or to be registered
pursuant to Section&nbsp;12(b) of the Act.</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" 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=45% style="height:5.65pt;padding:0cm 0cm 0cm 0cm;">
  <p style="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>
  </td>
 <td width=12% style="height:5.65pt;padding:0cm 0cm 0cm 0cm;">
  <p style="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>
  </td>
 <td width=43% style="height:5.65pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="margin:0cm;margin-bottom:.0001pt;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:10.6pt;">
  <td width=45% 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" lang=EN-US style="font-size:9.0pt;">Title of Each Class</font></u></b></font></p>
  </td>
 <td width=12% 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" lang=EN-GB style="font-size:9.0pt;">Trading Symbol</font></u></b></font></p>
  </td>
 <td valign=top width=43% style="height:10.6pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:6.75pt;text-align:center;"><font style="border:none;"><b><u><font face="Times New Roman,serif" lang=EN-US 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=45% 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">par value &#8364;0.49 per share</font></b></font></p>
  </td>
 <td valign=top width=12% style="height:34.85pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin-bottom:.75pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">BBVA</font></b></font></p>
  </td>
 <td valign=top width=43% 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" lang=EN-US style="font-size:9.0pt;">New York Stock Exchange</font></b></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td valign=top width=45% 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" lang=EN-US style="font-size:9.0pt;">Ordinary shares, par value
  &#8364;0.49&nbsp;per share</font></b></font></p>
  </td>
 <td valign=top width=12% 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" lang=EN-US style="font-size:9.0pt;">BBVA</font></b></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">*</font></font></p>
  </td>
 <td valign=top width=43% 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" lang=EN-US style="font-size:9.0pt;">&#160;New York Stock Exchange*</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.95pt;">
  <td width=45% style="height:21.95pt;padding:0cm 0cm 0cm 0cm;">
  <p style="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>
  </td>
 <td width=12% style="height:21.95pt;padding:0cm 0cm 0cm 0cm;">
  <p style="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>
  </td>
 <td width=43% style="height:21.95pt;padding:0cm 0cm 0cm 0cm;">
  <p style="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>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td valign=top width=45% 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" lang=EN-US style="font-size:9.0pt;">3.000%
  Fixed Rate Senior Notes due 2020</font></b></font></p>
  </td>
 <td valign=top width=12% 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" lang=EN-GB style="font-size:9.0pt;">BBVA/20A</font></b></font></p>
  </td>
 <td valign=top width=43% 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" lang=EN-US style="font-size:9.0pt;">New York
  Stock Exchange</font></b></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td valign=top width=45% style="height:5.65pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="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:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=top width=12% style="height:5.65pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="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:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=top width=43% style="height:5.65pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-left:0cm;margin-right:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;margin-left:27.15pt;width:100%;">
 <tr style="height:6.05pt;">
  <td valign=top width=46% style="height:6.05pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="border:none;margin-bottom:.0001pt;margin-left:29.55pt;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><b><u><font face="Times New Roman,serif" lang=EN-US 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 style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:9.0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></b></font></p>
  </td>
 <td valign=top width=4% style="height:6.05pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="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;text-decoration:none;">&nbsp;</font></b></font></p>
  </td>
 <td valign=top width=45% style="height:6.05pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:16.4pt;text-align:center;"><font style="border:none;"><b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Name
  of Each Exchange </font></u></b></font><font style="border:none;"><b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">on</font></u></b></font><font style="border:none;"><b><u><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;"> which Registered</font></u></b></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=46% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="border:none;margin-bottom:.0001pt;margin-left:29.55pt;margin-right:0cm;margin-top:0cm;text-align:center;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Non-Step-Up Non-Cumulative
  Contingent Convertible Perpetual 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="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>
  </td>
 <td valign=top width=4% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="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>
  </td>
 <td valign=top width=45% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="border:none;margin-bottom:.0001pt;margin-left:19.45pt;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;">Irish
  Stock Exchange</font></b></font></p>
  </td>
 </tr>
<tr style="height:3.2pt;">
  <td valign=top width=46% style="height:3.2pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="border:none;margin-bottom:.0001pt;margin-left:29.55pt;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;">Series
  9 Non-Step-Up Non-Cumulative Contingent Convertible Perpetual Preferred Tier
  1 Securities</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="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>
  </td>
 <td valign=top width=4% style="height:3.2pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="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>
  </td>
 <td valign=top width=45% style="height:3.2pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p align=center style="border:none;margin-bottom:.0001pt;margin-left:19.45pt;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;">Irish
  Stock Exchange</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;">&nbsp;</font></b></font></p>

<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, 2019, 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" lang=EN-US style="font-size:9.0pt;">Yes </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">No </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Yes </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">No </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Yes </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">No </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Yes </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">No </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;tab-stops:center 216.0pt right 432.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></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" lang=EN-US style="font-size:9.0pt;">Large
  accelerated filer </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Accelerated
  filer </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Non-accelerated
  filer </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Emerging
  growth company </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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.&#160;&#160;&#160; [&#160; ]</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" lang=EN-US style="font-size:9.0pt;">U.S.
  GAAP&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Other
  </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">[&nbsp;&nbsp;]</font></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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Item&nbsp;17&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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=EN-US style="font-size:9.0pt;">Item&nbsp;18 </font></font><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;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#160; &nbsp;</font></font></p>
  <p style="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>
  </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" style="font-size:9.0pt;">Yes </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;">No </font></font><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;"><font face="Times New Roman,serif" lang=EN-US 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>
<DIV bclFooter>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;tab-stops:center 216.0pt right 432.0pt;"><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><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_4"></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-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" 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="margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:1.0pt;">&nbsp;</font></font></p>
   </td>
 <td width=77% style="padding:0cm 0cm 0cm 0cm;">
   <p style="margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:1.0pt;">&nbsp;</font></font></p>
   </td>
 <td width=10% style="padding:0cm 0cm 0cm 0cm;">
   <p style="margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:7.5pt;">PAGE</font></b></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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_11"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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_11"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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_11"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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_11"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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_14"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">9</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" lang=EN-US 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_37"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">32</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" lang=EN-US 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_37"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">32</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" lang=EN-US 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_39"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">34</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" lang=EN-US 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_69"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">64</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" lang=EN-US 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_70"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">65</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" lang=EN-US 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_70"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">65</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" lang=EN-US 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_94"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">89</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" lang=EN-US 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_97"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">92</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" lang=EN-US 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_98"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">93</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" lang=EN-US 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_99"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">94</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" lang=EN-US 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_103"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">98</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" lang=EN-US 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_165"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">160</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" lang=EN-US 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_167"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">162</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" lang=EN-US 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_168"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">163</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" lang=EN-US 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_169"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">164</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" lang=EN-US 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_170"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">165</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" lang=EN-US 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_171"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">166</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" lang=EN-US 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_171"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">166</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" lang=EN-US 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_179"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">174</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" lang=EN-US 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_189"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">184</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">197</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" lang=EN-US 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_206"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">201</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" lang=EN-US 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_207"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">202</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" lang=EN-US 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_207"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">202</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" lang=EN-US 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_207"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">202</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" lang=EN-US 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_208"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">203</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" lang=EN-US 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_208"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">203</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" lang=EN-US 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_208"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">203</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" lang=EN-US 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_209"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">204</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" lang=EN-US 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_209"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">204</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" lang=EN-US 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_209"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">204</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" lang=EN-US 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_216"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">211</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" lang=EN-US 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_216"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">211</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" lang=EN-US 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_216"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">211</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" lang=EN-US 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_216"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">211</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" lang=EN-US 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_216"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">211</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:.0001pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></font></p>

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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;tab-stops:center 216.0pt right 432.0pt;"><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-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>
<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="margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:1.0pt;">&nbsp;</font></font></p>
   </td>
 <td width=77% style="padding:0cm 0cm 0cm 0cm;">
   <p style="margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:1.0pt;">&nbsp;</font></font></p>
   </td>
 <td width=10% style="padding:0cm 0cm 0cm 0cm;">
   <p style="margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:7.5pt;">PAGE</font></b></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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_216"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">211</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" lang=EN-US 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_216"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">211</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" lang=EN-US 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_216"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">211</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" lang=EN-US 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_219"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">214</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" lang=EN-US 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_220"><u><font color=blue face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Exchange Controls</font></u></a></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">215</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" lang=EN-US 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_221"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">216</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" lang=EN-US 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_226"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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_226"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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_226"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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_226"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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_226"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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_226"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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_226"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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_226"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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_227"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">222</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" lang=EN-US 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" lang=EN-US 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="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" lang=EN-US 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" lang=EN-US 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_228"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">223</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" lang=EN-US 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_228"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">223</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" lang=EN-US 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_228"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">223</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" lang=EN-US 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_231"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">226</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" lang=EN-US 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_231"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">226</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" lang=EN-US 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_231"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">226</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" lang=EN-US 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_231"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">226</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" lang=EN-US 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_232"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">227</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" lang=EN-US 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_233"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">228</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" lang=EN-US 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_233"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">228</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" lang=EN-US 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_233"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">228</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" lang=EN-US 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_235"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">230</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" lang=EN-US 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" lang=EN-US 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="margin-bottom:.75pt;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: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" lang=EN-US 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_235"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">230</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" lang=EN-US 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_235"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">230</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" lang=EN-US 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_236"><u><font color=blue face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">231</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>

<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>



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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 Mexico</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 USA</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; means BBVA
USA 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;&nbsp;</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;">means our audited consolidated financial statements as
of and for the years ended December 31, 2019, 2018 and 2017, prepared in
compliance with the 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 and Circular 4/2017 (each as defined 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;"><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 BBVA</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>

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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: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;">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;text-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;text-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 the other geographies in which we operate;</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 comply with
various legal and regulatory regimes and the impact of changes in applicable
laws and regulations, including increased capital, liquidity and provision
requirements and taxation, and steps taken towards achieving an EU fiscal and
banking union and an EU capital markets 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 political, economic and
regulatory impacts related to the United Kingdom&#8217;s withdrawal from the European
Union and the future relationship between the United Kingdom and 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;">adjustments in the real
estate markets in the geographies in which we operate, in particular in Spain,
Mexico, the United States and Turkey;</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 for us and our competitors, and our ability to implement
technological advances; </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, exchange
controls or other limitations to the repatriation of dividends, 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 continue to
access sources of liquidity and funding and to receive dividends and other
funds from our subsidiaries; </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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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 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 and identity theft;</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: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;">uncertainty surrounding the
integrity and continued existence of reference rates;</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>

<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></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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">3</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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>


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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;">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;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, 2019, 2018 and 2017. 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;">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; and Note 2.2 to our Consolidated Financial Statements</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:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><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;"><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, 2018, 2017, 2016 and 2015 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 changes in accounting policies and operating segments 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;&#8213;</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;"><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;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 16</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 January 1, 2019, IFRS 16 replaced IAS 17
&#8220;Leases&#8221;. The new standard introduces a single lessee accounting model and
requires a lessee to recognize assets and liabilities for all leases. The
standard provides two exceptions that can be applied in the case of short-term
contracts and those in which the underlying assets have low value. BBVA has
applied both exceptions. A lessee is required to recognize a right-of-use asset
representing its right to use the underlying leased asset, which is recorded
under the headings &#8220;Tangible assets - Property, plant and equipment&#8221; and
&#8220;Tangible assets &#8211; Investment properties&#8221; in our</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> consolidated balance sheets within our Consolidated
Financial Statements (see Note 17), and a lease liability representing its
obligation to make lease payments, which is recorded under the heading
&#8220;Financial liabilities at amortized cost &#8211; Other financial liabilities&#8221; in our
consolidated balance sheets within our Consolidated Financial Statements (see Note
22.5). For the consolidated income statement within our Consolidated Financial
Statements, the amortization of the right to use asset is recorded under the
heading &#8220;Depreciation and amortization &#8211; Tangible assets&#8221; (see Note 45) and the
financial cost associated with the lease liability is recorded under the
heading &#8220;Interest expense &#8211; Financial liabilities at amortized cost&#8221; (see Note
37.2).</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 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 to account for those two types of leases differently.</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 allowed by IFRS 16, consolidated financial
information as of December 31, 2018 and 2017 and for the years then ended
included in our Consolidated Financial Statements has not been restated
retrospectively in this regard. For additional information, see Notes 2.2.19
and 2.3 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;">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;">Item
5. Operating Results</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8213;</font><i><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></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8212;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Application of IFRS 16</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:0cm;margin-bottom:.0001pt;mso-border-shadow: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;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">IAS 12 &#8211; &#8220;Income Taxes&#8221; Amendment</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 part of the annual improvements to IFRS
standards (2015-2017 cycle), IAS 12 &#8220;Income Taxes&#8221; was amended for annual
reporting periods beginning on or after January 1, 2019. According to the
amended standard, an entity shall recognize the income tax consequences of
payments of dividends in profit or loss, other comprehensive income or equity,
depending on where the entity recognized the originating transaction or event
that generated the distributable profits giving rise to the dividend. In
accordance with the amended standard, we recorded the income tax consequences
of dividends paid for the year ended December 31, 2019 (amounting to &#8364;91
million of income) under &#8220;Tax expense or income related to profit or loss from
continuing operations&#8221; in our consolidated income statement within our
Consolidated Financial Statements (see Note 19). Such income tax consequences were
recorded under &#8220;Total equity&#8221; in our consolidated balance sheet in previous
periods. In order to make the financial</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> information for prior years comparable with the financial
information for 2019, the financial information for 2018 and 2017 has been restated
retrospectively in this regard. The application of the amended standard
resulted in an increase by &#8364;76 million and a decrease by &#8364;5 million,
respectively, in our &#8220;Profit attributable to parent company&#8221; for 2018 and 2017,
respectively (an increase of 1.4% and a decrease of 0.1% in the &#8220;Profit
attributable to parent company&#8221; for 2018 and 2017, respectively). The new
standard has had no significant impact on our consolidated total equity</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;"><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-left:0cm;margin-right:0cm;text-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 late 2018, the Group made a change with respect to the
accounting policies for hyperinflationary economies in accordance with IAS 29
&#8220;Financial information in hyperinflationary economies&#8221;.</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,</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> in the third quarter of 2018, Argentina, which
is part of the South America segment, was considered to be a hyperinflationary
country for the first time, and we applied hyperinflation accounting in respect
thereof with effect from January 1, 2018.</font></font><a name="page_10"></a><a name="page_10_bclEnd"></a></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 additional
information, see Notes 2.2.16 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;"><a name="_cp_text_1_138"></a><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">During 2019, we changed the reporting structure
of the BBVA Group&#8217;s operating segments as a result of the integration of the
Non-Core Real Estate business area into Banking Activity in Spain, which was
renamed &#8220;Spain&#8221;. Additionally, certain balance sheet intra-group adjustments
between the Corporate Center and the operating segments were reallocated to the
corresponding operating segments. In addition, certain expenses related to
global projects and activities have been reallocated between the Corporate
Center and the corresponding operating segments. In order to make the
information as of and for the years ended December 31, 2018 and 2017 comparable
with the information as of and for the year ended December 31, 2019, as required
by IFRS 8 &#8220;Information by business segments&#8221;, figures as of and for the years
ended December 31, 2018 and 2017 were recast in conformity with the new segment
reporting structure. </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
additional information on our current segments, see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Item 4. Business
Overview&#8213;</font></i></font><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Operating
Segments</font></i></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; and Note 6 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;"><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-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;">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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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;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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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>

<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" lang=EN-US style="font-size:10.0pt;">ITEM 3. KEY INFORMATION</font></b></font></h2>

<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;">A. Selected Consolidated
Financial Data</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 historical financial information set forth
below for the years ended December 31, 2019, 2018 and 2017 has been selected
from, and should be read together with, the Consolidated Financial Statements
included herein. The Group&#180;s consolidated income statements for 2018 and 2017
have been restated for comparative purposes due to the entry into force of the
Amendment to IAS 12. 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&#8213;IAS 12&#8213;&#8221;Income Taxes&#8221; Amendment&#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 audited consolidated financial statements
for 2016 and 2015 are not included in this document. The historical financial
information set forth below for such years has been 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 in prior years
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;text-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 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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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 title="F_20F_SMSR_3A1A" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap valign=bottom width=47% 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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=5 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 align=center style="border: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-US style="font-size:8.0pt;">Year Ended
  December 31,</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=47% 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=EN-US 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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border: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-US style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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=center style="border: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-US style="font-size:8.0pt;">2018</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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:8.0pt;">2015</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=47% 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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=5 nowrap valign=bottom width=53% 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" lang=EN-US 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=47% style="height: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=EN-US style="font-size:8.0pt;">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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">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=EN-US style="font-size:8.0pt;">31,061</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">29,831</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">29,296</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">27,708</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">24,783 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">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" lang=EN-US style="font-size:8.0pt;">(12,859)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(12,239)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(11,537)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(10,648)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(8,761)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=47% style="height: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=EN-US style="font-size:8.0pt;">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" lang=EN-US style="font-size:8.0pt;">18,202</font></b></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:8.0pt;">17,591</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">17,758</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">17,059</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">16,022 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">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" lang=EN-US style="font-size:8.0pt;">162</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">157</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">334</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">467</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">415 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">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=EN-US 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(7)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">4</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">25</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">174 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">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=EN-US style="font-size:8.0pt;">7,522</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">7,132</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">7,150</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">6,804</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">6,340 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">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=EN-US style="font-size:8.0pt;">(2,489)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(2,253)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(2,229)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(2,086)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1,729)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">Net gains (losses) on financial assets and
  liabilities (1)</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=EN-US style="font-size:8.0pt;">798</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1,234</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">938</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1,661</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">865 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">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=EN-US style="font-size:8.0pt;">586</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(9)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1,030</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">472</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1,165 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">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=EN-US style="font-size:8.0pt;">671</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">949</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1,439</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1,272</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1,315 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">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=EN-US style="font-size:8.0pt;">(2,006)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(2,101)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(2,223)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(2,128)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(2,285)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">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=EN-US style="font-size:8.0pt;">2,890</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">2,949</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">3,342</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">3,652</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">3,678</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">Expense 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=EN-US style="font-size:8.0pt;">(1,751)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1,894)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(2,272)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(2,545)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(2,599)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=47% style="height: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=EN-US style="font-size:8.0pt;">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" lang=EN-US style="font-size:8.0pt;">24,542</font></b></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:8.0pt;">23,747</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">25,270</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">24,653</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">23,362 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">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" lang=EN-US style="font-size:8.0pt;">(10,303)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(10,494)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(11,112)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(11,366)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(10,836)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">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" lang=EN-US style="font-size:8.0pt;">(1,599)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1,208)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1,387)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1,426)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1,272)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">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" lang=EN-US style="font-size:8.0pt;">(617)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(373)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(745)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1,186)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(731)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US 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 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=EN-US style="font-size:8.0pt;">(4,151)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(3,981)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(4,803)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(3,801)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(4,272)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=47% style="height: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=EN-US style="font-size:8.0pt;">Net operating 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" lang=EN-US style="font-size:8.0pt;">7,872</font></b></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:8.0pt;">7,691</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">7,222</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">6,874</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">6,251 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">Impairment or reversal of impairment of
  investments in joint ventures and associates</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=EN-US 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">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=EN-US style="font-size:8.0pt;">(1,447)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(138)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(364)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(521)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(273)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">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=EN-US 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">78</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">47</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">70 </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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(2,135)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">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=EN-US 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">26 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">815</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">26</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(31)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">734</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=47% style="height: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=EN-US style="font-size:8.0pt;">Operating profit before tax</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" lang=EN-US style="font-size:8.0pt;">6,398</font></b></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:8.0pt;">8,446</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">6,931</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">6,392</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">4,603 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">Tax (expense) or income related to profit or
  loss 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" lang=EN-US style="font-size:8.0pt;">(2,053)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(2,219)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(2,174)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1,699)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1,274)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=47% style="height: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=EN-US style="font-size:8.0pt;">Profit from continuing operations</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" lang=EN-US style="font-size:8.0pt;">4,345</font></b></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:8.0pt;">6,227</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">4,757</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">4,693</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">3,328 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">Profit from discontinued operations, 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=EN-US 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&#160;-&nbsp;</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&#160;-&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=47% style="height: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=EN-US style="font-size:8.0pt;">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" lang=EN-US style="font-size:8.0pt;">4,345</font></b></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:8.0pt;">6,227</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">4,757</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">4,693</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">3,328 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">Profit attributable to parent company</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=EN-US style="font-size:8.0pt;">3,512</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">5,400</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">3,514</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">3,475</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">2,642</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">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" lang=EN-US style="font-size:8.0pt;">833</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">827</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1,243</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1,218</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">686</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=47% style="height: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=EN-US style="font-size:8.0pt;">Per share/ADS(2) Data</font></b></font></p>
  </td>
 <td nowrap width=13% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">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" lang=EN-US style="font-size:8.0pt;">0.65 </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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.93</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.71</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.71</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.52</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">Diluted profit attributable to parent company
  (3)</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=EN-US style="font-size:8.0pt;">0.47 </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" lang=EN-US style="font-size:8.0pt;">0.75</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.46</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.49</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.37</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">Basic profit attributable to parent company</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=EN-US style="font-size:8.0pt;">0.47 </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" lang=EN-US style="font-size:8.0pt;">0.75</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.46</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.49</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.37</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">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" lang=EN-US style="font-size:8.0pt;">0.260 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.250 </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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.170</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.160 </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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.160 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">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" lang=EN-US style="font-size:8.0pt;">0.292 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.286 </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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.204</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.169 </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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.174 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:8.0pt;">Number of shares outstanding (at period end)</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=EN-US style="font-size:8.0pt;">6,667,886,580 </font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">6,667,886,580 </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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">6,667,886,580 </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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">6,566,615,242 </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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">6,366,680,118 </font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(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; and &#8220;Gains (losses) from hedge accounting, net&#8221;.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;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:8.0pt;">(2)&#160; Each American Depositary Share (</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&#8220;ADS&#8221;</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">)
represents the right to receive one ordinary share.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:14.2pt;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:8.0pt;">(3)&#160; Calculated on the basis of
the weighted average number of BBVA&#8217;s ordinary shares outstanding during the
relevant period, 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 2016, October 2016 and April 2017, excluding
the weighted average number of treasury shares during the year (6,668 million,
6,668 million, 6,642 million, 6,468 million and 6,290 million shares for the
years ended December 31, 2019, 2018, 2017, 2016 and 2015, respectively).
</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">7</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_13"></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 title="F_20F_SMSR_3A1DEFGH" 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">As of and for the
  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" lang=EN-US style="font-size:8.0pt;">&nbsp;</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 2.0pt 0cm 2.0pt;">
  <p align=center style="border: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-US style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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=center style="border: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-US style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:8.0pt;">2015</font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=5 valign=bottom width=51% 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" lang=EN-US style="font-size:9.0pt;">(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" lang=EN-US style="font-size:9.0pt;">Consolidated Balance Sheet Data</font></b></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=white style="border:none;"><b><font color=white face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0 </font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Total assets </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" lang=EN-US style="font-size:9.0pt;">698,690 </font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">676,689 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">731,856 </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" lang=EN-US style="font-size:9.0pt;">749,855 </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" lang=EN-US style="font-size:9.0pt;">Net assets</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" lang=EN-US style="font-size:9.0pt;">54,925 </font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">52,874 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">55,428 </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" lang=EN-US style="font-size:9.0pt;">55,282 </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" lang=EN-US style="font-size:9.0pt;">Common stock</font></font></p>
  </td>
 <td nowrap valign=top 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=EN-US style="font-size:9.0pt;">3,267 </font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3,267 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">3,218 </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" lang=EN-US style="font-size:9.0pt;">3,120 </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" lang=EN-US style="font-size:9.0pt;">Financial assets at amortized cost (1)</font></font></p>
  </td>
 <td nowrap valign=top 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=EN-US style="font-size:9.0pt;">439,162 </font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">419,660 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">483,672 </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" lang=EN-US style="font-size:9.0pt;">471,828 </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" lang=EN-US style="font-size:9.0pt;">Financial liabilities at amortized cost -
  Customer deposits</font></font></p>
  </td>
 <td nowrap valign=top 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=EN-US style="font-size:9.0pt;">384,219 </font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">375,970 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">401,465 </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" lang=EN-US style="font-size:9.0pt;">403,362 </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" lang=EN-US style="font-size:9.0pt;">Debt certificates </font></font></p>
  </td>
 <td nowrap valign=top 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=EN-US style="font-size:9.0pt;">68,619 </font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">63,970 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">76,375 </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" lang=EN-US style="font-size:9.0pt;">81,980 </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" lang=EN-US style="font-size:9.0pt;">Non-controlling interest</font></font></p>
  </td>
 <td nowrap valign=top 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=EN-US style="font-size:9.0pt;">6,201 </font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">5,764 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">8,064 </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" lang=EN-US style="font-size:9.0pt;">7,992 </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" lang=EN-US style="font-size:9.0pt;">Total equity</font></font></p>
  </td>
 <td nowrap valign=top 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=EN-US style="font-size:9.0pt;">54,925 </font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">52,874 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">55,428 </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" lang=EN-US style="font-size:9.0pt;">55,282 </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" lang=EN-US style="font-size:9.0pt;">Consolidated ratios</font></b></font></p>
  </td>
 <td nowrap valign=top 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=top 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=top width=9% 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=top width=9% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=top width=49% 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" lang=EN-US style="font-size:9.0pt;">Profitability ratios:</font></font></p>
  </td>
 <td nowrap valign=top width=12% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=10% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</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 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=EN-US style="font-size:9.0pt;">Net interest margin (2)</font></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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2.62%</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2.59%</font></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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2.52%</font></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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2.32%</font></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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2.27%</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" lang=EN-US style="font-size:9.0pt;">Return on average total assets (3) </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" lang=EN-US style="font-size:9.0pt;">0.6%</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">0.9%</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">0.6%</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Return on average shareholders&#8217; funds (4) </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" lang=EN-US style="font-size:9.0pt;">6.3%</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">10.2%</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">6.7%</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" lang=EN-US style="font-size:9.0pt;">5.3%</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" lang=EN-US style="font-size:9.0pt;">Credit quality data</font></b></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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Loan loss reserve&#160; (5)</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" lang=EN-US style="font-size:9.0pt;">12,427 </font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">12,217 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">16,016 </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" lang=EN-US style="font-size:9.0pt;">18,742 </font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td valign=top width=49% style="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" lang=EN-US style="font-size:9.0pt;">Loan loss reserve as a percentage of financial
  assets at amortized cost&#160; (1)</font></font></p>
  </td>
 <td nowrap width=12% 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=EN-US style="font-size:9.0pt;">2.83%</font></font></p>
  </td>
 <td nowrap 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2.91%</font></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">2.87%</font></font></p>
  </td>
 <td nowrap 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3.31%</font></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">3.97%</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" lang=EN-US style="font-size:9.0pt;">Non-performing asset ratio (NPA ratio) (6)</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" lang=EN-US style="font-size:9.0pt;">3.79%</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3.94%</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">4.90%</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" lang=EN-US style="font-size:9.0pt;">5.37%</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" lang=EN-US style="font-size:9.0pt;">Impaired loans and advances to customers</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" lang=EN-US style="font-size:9.0pt;">15,954 </font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">16,349 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">22,915 </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" lang=EN-US style="font-size:9.0pt;">25,333 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=top width=49% 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" lang=EN-US style="font-size:9.0pt;">Impaired loan commitments and guarantees to
  customers (7)</font></font></p>
  </td>
 <td nowrap valign=bottom 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">731 </font></font></p>
  </td>
 <td nowrap valign=bottom 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">740 </font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US 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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">680 </font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">664 </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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top 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=EN-US style="font-size:9.0pt;">16,684 </font></font></p>
  </td>
 <td nowrap valign=top 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" lang=EN-US style="font-size:9.0pt;">17,089 </font></font></p>
  </td>
 <td nowrap 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">23,595 </font></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">25,997 </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 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=EN-US style="font-size:9.0pt;">Loans and advances to customers at amortized
  cost (8)</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">394,763</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">386,225</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">401,074 </font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">430,629 </font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">432,921 </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" lang=EN-US style="font-size:9.0pt;">Loan commitments and guarantees to customers</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" lang=EN-US style="font-size:9.0pt;">45,952 </font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">47,575 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">50,540 </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" lang=EN-US style="font-size:9.0pt;">49,876 </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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top 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=EN-US style="font-size:9.0pt;">440,714 </font></font></p>
  </td>
 <td nowrap valign=top 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" lang=EN-US style="font-size:9.0pt;">433,800 </font></font></p>
  </td>
 <td nowrap 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">481,169 </font></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">482,797 </font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(1)&#160; With respect to 2015, consists exclusively of assets
recorded under &#8220;Loans and receivables&#8221; as of December 31, 2015 in the
consolidated financial statements included in the annual report on Form 20-F
for such year, following IAS 39 (see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Item 5. Operating and Financial Review
and Prospects&#8212;Critical Accounting Policies&#8212;Financial instruments</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&#8221;).
Financial information for 2017 included in the Consolidated Financial
Statements, and financial information for 2016 included in the consolidated
financial statements for the year ended December 31, 2018, was prepared in
accordance with the accounting policies and valuation criteria applicable under
IAS 39, subject to certain modifications in order to improve its comparability
with financial information for subsequent periods. For additional information
on such modifications, see </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&#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:8.0pt;"> in our annual report on Form 20-F for
the year ended December 31, 2018.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;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:8.0pt;">(2)&#160; Represents net interest income as a percentage of
average total assets. </font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;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:8.0pt;">(3)&#160; Represents profit attributable to parent company as a
percentage of average total assets. </font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;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:8.0pt;">(4)&#160; Represents profit attributable to parent company for
the year as a percentage of average shareholders&#8217; funds for the year.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;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:8.0pt;">(5)&#160; Represents loss allowance on loans and advances at
amortized cost. </font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;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:8.0pt;">(6)&#160; Represents the sum of impaired loans and advances to
customers and impaired loan commitments and guarantees to customers divided by
the sum of loans and advances to customers and loan commitments and guarantees
to customers.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;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:8.0pt;">(7)&#160; We include loan commitments and guarantees to customers
in the calculation of our non-performing asset ratio (NPA ratio). We believe
that impaired loan commitments and guarantees to customers 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 loan
commitments and guarantees to customers (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 loan commitments and guarantees to customers were not
included in the calculation of our NPA ratio, such ratio would generally be lower
for the periods covered, amounting to 3.62%, 3.77%, 4.32%, 4.76% and 5.25% as
of December 31, 2019, 2018, 2017, 2016 and 2015, respectively.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;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:8.0pt;">(8)&#160; Includes
impaired loans and advances.</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" lang=EN-US 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" lang=EN-US 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;">&nbsp;</h2>
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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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:.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" lang=EN-US style="font-size:10.0pt;line-height:150%;">D.&#160;&#160; Risk Factors </font></b></font></h2>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;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;">BUSINESS RISKS</font></b></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;">Inherent Business Risks</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">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></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;">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 loss allowances. Credit risk can be affected by a range of factors,
including an adverse economic environment, reduced consumer, corporate 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 household 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. </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;">The total maximum
credit risk exposure (calculated as set forth in Note 7.1.2</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;">to the
Consolidated Financial Statements) was &#8364;809,786 million, &#8364;763,082 million and
&#8364;763,165 million as of December 31, 2019, 2018 and 2017, respectively. Total
non-performing or impaired financial assets and contingent risk (calculated as
set forth in Note 7.1.5 to the Consolidated Financial Statements) amounted to
&#8364;16,770 million, &#8364;17,134 million and &#8364;20,590 million as of December 31, 2019,
2018 and 2017, respectively. The Group had a 3.79% non-performing asset ratio
(calculated as indicated herein)</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;">as of December 31, 2019, compared to
3.94% and 4.49% as of December 31, 2018 and 2017, respectively. The Group&#8217;s
non-performing loan coverage ratio was 77% as of December 31, 2019, compared to
73% and 65% as of December 31, 2018 and 2017, respectively. </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;">Non-performing or low
credit quality loans have in the past and can continue to negatively affect the
Group&#8217;s results of operations. The Group 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 there is a risk of
increased default rates if interest rates start to rise. The timing, quantum
and pace of any default rate 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, including 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 based on its classifications and estimates of possible changes in
credit quality. 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. There is a risk in making such assessments
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>

<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;">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, any 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 plans. </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;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;">The Group&#8217;s business is particularly vulnerable
to volatility in interest rates</font></i></b></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;">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, including cases of negative reference rates, can affect
the interest rates that the Group receives on its interest-earning assets
differently from their effect on 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: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 addition, the high
proportion of the Group&#8217;s loans referenced to variable interest rates makes
borrowers&#8217; capacity to repay such loans more vulnerable to changes in interest
rates and the profitability of the loans more vulnerable to interest rate
decreases. Loans and advances to customers maturing in more than one year and
bearing floating interest rates made up 59%, 62% and 62% of such transactions
as of December 31, 2019, 2018 and 2017, respectively. See Note 14.3 to the
Consolidated Financial Statements. 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. See Note 7.3.1 to the
Consolidated Financial Statements for further information.</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;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group faces increasing competition in its business
lines</font></i></b></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;">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, well-capitalized banks with which the Group must
now compete. </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;">The Group also faces
competition from non-bank competitors, such as BigTech firms,
financial-technology (or &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Fintech</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) companies, payment platforms,
e-commerce businesses, large department stores (for some credit products),
automotive finance corporations, leasing companies, factoring companies, mutual
funds, pension funds, insurance companies and &#8211;with respect to its deposits-
public and corporate debt securities. According to the Financial Stability
Board (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">FSB</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), non-bank financial intermediaries managed assets totaling
$184.3 trillion as of December 2017 and are experiencing growth exceeding that
of the commercial banking business. BigTech firms are already engaged in a wide
range of financial activities. This is particularly the case in China, where
BigTech firms have market capitalizations comparable to those of the world&#8217;s
largest financial groups, and offer a wide range of financial services through
subsidiaries. BigTech firms have also been expanding their provision of
financial service in other emerging markets, notably in South East Asia, East
Africa and Latin America. Such firms have achieved scale in financial services
very rapidly, in part due to the large customer bases and high degree of brand
recognition associated with their existing core technology businesses. Despite
its recent growth, total credit extended by BigTech firms accounts for a small
proportion of overall credit. Still, competition from non-bank competitors may significantly
increase in the future.</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;">In recent years, the
financial services sector has experienced a significant transformation, closely
linked to the development of the internet and mobile technologies. Part of that
transformation involves the entrance of new players, such as those listed
above. However, as of the date of this Annual Report, there is an uneven
playing field between banks and 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 V Directive limits the ratio between the
variable and 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 companies.</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;">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 banks
and non-bank players arise since banks, as regulated entities, often face obstacles
to engage in unregulated activities. </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:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group&#8217;s future success depends, 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
and its commitment to digitalization, 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: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 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: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 addition, the
project of achieving a European capital markets union was launched by the
European Commission as a plan to mobilize capital in Europe, one of its main
objectives being 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>

<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;"><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: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;">The Group is
significantly exposed to the real estate market, particularly in Spain. The
Group&#8217;s exposure to the construction and real estate industries in Spain
amounted to &#8364;9,943 million, &#8364;11,045 million and &#8364;11,981 million as of December
31, 2019, 2018 and 2017, respectively, of which &#8364;2,649 million, &#8364;3,183 million
and &#8364;5,224 million, respectively, related to construction and real estate
development loans in Spain (representing 1.4%, 1.7% and 2.9%, respectively, of
the Group&#8217;s loans and advances to customers in Spain (excluding loans and
advances to the public sector) and 0.4%, 0.5% and 0.8%, respectively, of the Group&#8217;s
consolidated assets, as of such dates). The Group is exposed to the real estate
market due to the fact that real estate assets secure many of its outstanding
loans, it holds a significant amount of real estate assets on its balance
sheet, principally as a result of foreclosures, and it holds stakes in real
estate companies such as Metrovacesa, S.A. and Divarian Propiedad, S.A. Total
real estate exposure in Spain, including development loans, foreclosed assets
and other real estate-related assets had a coverage ratio of 52% as of December
31, 2019 (55% as of December 31, 2018). For additional information, see item
(b) of Appendix IX (Additional information on risk concentration) of our
Consolidated Financial Statements.</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;">While the demand for
homes and real estate loans has been on the rise in recent years, growth in the
sector seems to be stagnating. Any deterioration of real estate prices could
have a material adverse effect on the Group&#8217;s business, financial condition and
results of operations. For example, a decline in prices for real estate assets
in Spain would reduce the value of the real estate portfolio that serves to
secure its real estate loans and credit and, consequently, any defaults would
increase the amount of expected losses relating to those loans and credit
facilities.</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;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group faces risks related to its acquisitions and
divestitures </font></i></b></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;">The Group has both
acquired and sold various companies and businesses over the past few years. As
of the date of this Annual Report, the closing of the sale of BBVA Paraguay
remains subject to obtaining the relevant regulatory authorizations. Other
recent transactions include the sale of BBVA Chile and the Cerberus Transaction
(as defined herein). 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;History and Development of the Company&#8212;Capital Divestitures</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:0cm;margin-bottom:.0001pt;mso-border-shadow: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:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group&#8217;s mergers and acquisitions activity (M&amp;A) involves
divestitures from certain businesses and the strengthening of other business
areas through acquisitions. The Group may not complete these transactions in a
timely manner, on a cost-effective basis or at all and, if completed, they may
not obtain the expected results. In addition, if completed, the Group&#8217;s results
of operations could be negatively affected by divestiture or acquisition-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, divestitures or acquisitions, including
claims from terminated employees, customers or third parties, and the Group may
be liable for potential or existing litigation and claims related to an
acquired business, including 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.</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;">In the case of
acquisitions, even though the Group reviews the companies it plans to acquire,
it is often not possible for these reviews to be complete in all respects and,
consequently, there may be risks associated with unforeseen events or
liabilities relating to the acquired assets or businesses that may not have
been revealed during the due diligence processes, resulting in the Group
needing to assume unforeseen liabilities or an acquisition not performing as
expected. In addition, acquisitions 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 that adversely affect the
Group&#8217;s results of operations.</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;">Any of the foregoing
may cause the Group to incur significant unexpected expenses, may divert
significant resources and management attention from our other business
concerns, or may otherwise have a material adverse impact on the Group&#8217;s
business, financial condition and results of operations.</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;">Risks Deriving from our
Geographic Distribution</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;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Deterioration of economic conditions or the institutional
environment 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: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;">The Group operates
commercial banks and insurance and other financial services companies in many
countries and its overall success as a global business depends on its ability
to succeed in differing economic, social and political conditions and in
environments of differing legislative and regulatory requirements (including,
among others, laws and regulations regarding the repatriation of funds or the
nationalization or expropriation of assets). The Group is particularly
sensitive to developments in Mexico, the United States, Turkey and Argentina,
which represented 15.6%, 12.7%, 9.2% and 1.0% of the Group&#8217;s assets as of
December 31, 2019, respectively (14.3%, 12.1%, 9.8% and 1.2% of the Group&#8217;s
assets as of December 31, 2018, respectively).</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 Group faces, among others, the following economic risks:</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:54.0pt;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: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;">weak economic growth or recession in the countries where it
operates, poor employment growth and structural challenges constraining
employment growth, such as in Spain, where unemployment has remained relatively
high, which may negatively affect the household income levels of the Group&#8217;s
retail customers and the recoverability of the Group&#8217;s retail loans, resulting
in increased loan loss allowances and asset impairments;</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:54.0pt;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: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;">declines in inflation or even deflation, primarily in Europe, or
very high inflation rates, such as in Venezuela and Argentina and, to a lesser
extent, Turkey;</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:54.0pt;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: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;">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:0cm;margin-left:54.0pt;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: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;">an environment of very low interest rates 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:0cm;margin-left:54.0pt;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: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;">adverse developments in the real estate market, especially in
Spain, Mexico, the United States and Turkey, given the Group&#8217;s exposures to
those markets;</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:54.0pt;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: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;">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 net oil
consuming areas, such as Spain or Turkey, to which the Group is also materially
exposed;</font></font></p>


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<p style="border:none;margin-bottom:0cm;margin-left:54.0pt;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: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 impact of the coronavirus disease (COVID-19), which may
adversely affect, among other matters, factory output, supply chains, travel
and tourism, investor confidence and consumer spending;</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:54.0pt;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: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;">changes in the institutional or political environment in the
countries where the Group operates, which could evolve into sudden and intense
economic downturns and/or regulatory changes; for example, the potential exit
by an EU Member State from the European Monetary Union, which could materially
adversely affect the European and global economies, 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; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:54.0pt;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: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;">a government default on, or restructuring of, sovereign debt,
which could affect the Group primarily in two ways: directly, through portfolio
losses (the Group&#8217;s exposure to government debt relates mainly to Spain,
Mexico, the United States and Turkey, which together amounted to &#8364;116,006
million, equivalent to 16.6% of the Group&#8217;s consolidated total assets, as of
December 31, 2019); and indirectly, through instabilities that a default on, or
restructuring of, sovereign 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: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;">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&#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&#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-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 deterioration of
economic conditions or the institutional environment 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.</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;"><b><i><font face="Times New Roman,serif" lang=EN-US 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></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;">The Group&#8217;s
international operations 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. There is
no guarantee that the Group will be successful in developing and implementing
policies and strategies in each country in which it operates, some of which
have experienced significant financial, political and social volatility in
recent decades. </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,
2019, approximately 48.1% of the Group&#8217;s assets and approximately 41.9% of its
liabilities were denominated in currencies other than the euro. See Note 7.3.2
to the Consolidated Financial Statements for information on our hedging policy
for exchange rate risk and Appendix VII thereof for additional information on
our exposure to such risk.</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;">The Group is
particularly sensitive to developments in Mexico, Turkey and Argentina, which
represented 15.6%, 12.7%, 9.2% and 1.0% of the Group&#8217;s assets as of December
31, 2019, respectively (14.3%, 9.8% and 1.2% of the Group&#8217;s assets as of
December 31, 2018, respectively).</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;">Certain risks
affecting emerging markets and, in particular, Mexico, are discussed in greater
detail below. </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;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Emerging Markets</font></i></b></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;">Emerging markets are
generally subject to greater risk than more developed 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;"><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:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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.
Despite recent global economic growth, there are increasing risks of
deterioration that might be triggered by a full-scale trade war, geopolitical
events or changes in financial risk appetite, including as a result of a
disordered deleveraging process in China or a sudden and unexpected downward
growth adjustment in the United States. If global financial conditions
deteriorate, the business, financial condition and results of operations of the
Bank&#8217;s subsidiaries in emerging economies, especially in Latin America and
Turkey, could be materially adversely affected. </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;">Moreover, a financial
crisis in a particular emerging market could adversely affect other emerging
markets that are commercially or financially related and could impact the
global economy. 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: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;">Argentina, where the
Bank operates through BBVA Argentina, and Turkey, where the Bank operates
through Garanti BBVA, 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 and 2019),
rapidly-increasing interest rates and deteriorating economic conditions,
adversely affecting our operations in those countries and the value of the
related assets and liabilities when translated into euros. Hyperinflation in
Argentina had a negative impact of &#8364;224 million on profit attributable to
parent company for the year ended December 31, 2019 (&#8364;266 million for the year
ended December 31, 2018). In addition, the Group&#8217;s activities in 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. Moreover, the repatriation of dividends from BBVA&#8217;s Venezuelan
and Argentinean subsidiaries are subject to certain restrictions and there is
no assurance that further restrictions will not be imposed.</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;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Mexico</font></i></b></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;">The Group may be
affected by currency fluctuations, inflation, interest rates, regulation,
taxation, social instability and other political, social and economic
developments in or affecting Mexico. </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;">Economic conditions in
Mexico are highly correlated with economic conditions in the United States due
to the physical proximity and the high degree of economic activity between the
two countries generally, including the trade historically facilitated by NAFTA.
As a result, economic, political and regulatory conditions in the United States
or in U.S. laws and policies governing foreign trade, immigration and foreign
relations can have an impact on economic conditions in Mexico. Because the
Mexican economy is heavily influenced by the U.S. economy, the termination of
NAFTA and/or any development affecting 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;) may adversely affect economic conditions in
Mexico. As of the date of this Annual Report, USMCA still needs to be approved
by the legislature of Canada. As such, uncertainty continues as to whether
USMCA will be ratified in its current form, or at all.</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;">The Mexican government
has exercised, and continues to exercise, significant influence over the
Mexican economy. Accordingly, Mexican governmental actions could have a
significant impact on Mexican private sector entities in general, as well as on
market conditions and prices. 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;Mexico</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; for
information on certain recent changes to the financial sector regulation. </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 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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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 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: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;">The Group has
historically carried out its lending activity mainly in Spain, which continues
to be one of its primary business areas, such that as of December 31, 2019,
total risk in financial instruments</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;">in Spain (calculated as set forth in
item (c) of Appendix IX (Additional information on risk concentration) of our
Consolidated Financial Statements) amounted to &#8364;229,564 million, equivalent to
37% of the Group&#8217;s total risk in financial instruments. 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 2009-2010 and 2012-2013 periods. 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 each of 2015 and 2016, falling to 2.9%, 2.4%
and 2.0% in 2017, 2018 and 2019, respectively, and unemployment decreased to
13.8% in 2019 from 15.3% in 2018. GDP growth is expected to remain around 2.0%
in the coming years, although there are drivers of uncertainty abroad (for
example, the possibility of a sudden halt to global growth, and the medium- to
long-term consequences of the United Kingdom&#8217;s exit from the European Union)
and in Spain (for example, the adoption of economic policies that deteriorate
household and corporate confidence in the economy and/or financing costs) that
could alter that trend, restricting employment growth and reducing levels of
disposable income for households and companies. In addition, the Spanish
economy is particularly sensitive to economic conditions in the Eurozone, the
main export market for Spanish goods and services. The Group&#8217;s loans and
advances to customers in Spain totaled &#8364;197,058 million as of December 31,
2019, representing 50% of the total amount of loans and advances to customers
included on the Group&#8217;s consolidated balance sheet. Our Spanish business
includes extensive operations in Catalonia, which represented 18% of the
Group&#8217;s assets in Spain as of December 31, 2019 (18% as of December 31, 2018).
While social and political tensions have generally declined in recent months,
if such tensions were to increase, this could lead to scenarios of uncertainty,
volatility in capital markets and a deterioration of economic and financing
conditions in Spain. </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;">Given the relevance of
the Group&#8217;s loan portfolio in Spain, any adverse change affecting economic
conditions in Spain could have a material adverse effect on our business,
financial condition and results of operations.</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;"><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: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;">The United Kingdom&#8217;s
exit from the European Union on January 31, 2020 (&#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;) has 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 on the future
relationship between the United Kingdom and the European Union, including
whether the two maintain close commercial ties after the United Kingdom exits
the European Single Market, which is currently scheduled to occur on December
31, 2020. </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;">The Group currently
has a branch and 120 employees (as of December 31, 2019) in the United Kingdom,
and engages in significant cross-border transactions with the United Kingdom,
primarily with banks and other financial institutions. The Group held U.K.</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;">sovereign
debt totaling &#8364;43 million as of December 31, 2019 and it currently holds a
39.02% interest in Atom Bank plc, a U.K. digital bank. In addition to the
effects on the economy and European and global financial markets, the
implementation of Brexit could harm or otherwise limit our capacity to carry
out commercial transactions in the United Kingdom or in any other location. 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 may
cause an economic slowdown, or even 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 United Kingdom&#8217;s future relationship with the
European Union, 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>


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

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">See also &#8220;&#8212;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Business Risks&#8212;Inherent Business
Risks&#8212;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><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;">Business Risks&#8212;Inherent Business Risks&#8212;The Group&#8217;s
business is particularly vulnerable to volatility in interest rates</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: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;">Liquidity Risks</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">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 an
exercise of the Spanish Bail-in Power</font></i></b></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;">Historically, one of
the Group&#8217;s principal sources of funds has been savings and demand deposits.
Customer deposits represented approximately 74% of the BBVA Group&#8217;s total
financial liabilities at amortized cost as of December 31, 2019, compared with
74% and 69% at December 31, 2018 and 2017, respectively. See Note 22 to the
Consolidated Financial Statements.</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;">Long-term 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 political
actions, such as an exercise of the Spanish Bail-in Power (as defined below),
expropriation or taxation of creditors&#8217; funds) or competition from investment
funds or other products. 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. In that case, the Bank could be subject to
early intervention or, ultimately, resolution measures implemented by the
Spanish Resolution Authority in accordance with Law 11/2015 of June 18 on the
Recovery and Resolution of Credit Institutions and Investment Firms (</font><i><font 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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">), as amended, replaced or supplemented from time
to time (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Law 11/2015</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) including, but not limited to, an exercise of
the Spanish Bail-in Power (including a Non-Viability Loss Absorption (as
defined below)). See &#8220;&#8212;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Legal, Regulatory, Tax and Reporting Risks&#8212;Regulatory
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 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:18.0pt;"><font style="border:none;"><font 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 in 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 any early intervention or, ultimately, resolution
measures by the Spanish Resolution Authority pursuant to Law 11/2015
(including, but not limited to, the exercise of the Spanish Bail-in Power
(including a Non-Viability Loss Absorption)).</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;">&#160;&#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 defined herein), including, but
not limited to (a) Law 11/2015, (b) RD 1012/2015 (as defined herein); and (c)
the SRM Regulation (as defined herein), 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: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;">&#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; means the power of the Spanish Resolution Authority to
permanently write-down or convert capital instruments into equity at the point
of non-viability of an institution.</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;">&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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, and any other entity with the
authority to exercise the Spanish Bail-in Power (including a Non-Viability Loss
Absorption) from time to 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: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;">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></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;">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 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: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;">The Group&#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: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 addition, corporate
and institutional counterparties may seek to reduce aggregate credit exposures
to the Group (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>

<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;">Other Financial Risks</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">The Bank and certain of its subsidiaries depend on their
credit ratings and those assigned to Spanish sovereign debt. Any decline in
these credit ratings could increase the cost of financing or require contracts
to be terminated or obligate the Bank to provide additional guarantees under
such contracts, which could adversely affect the Group&#8217;s business, financial
condition and results of operations</font></i></b></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;">The banking business
carried out by the Group involves obtaining financing from various sources.
Credit ratings are essential to carrying out the banking business since the
ability to obtain financing and its price depends in part on such ratings, as
well as on other factors including market conditions and the interest rate
environment. </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;">The Bank and certain
of its subsidiaries are rated by various credit rating agencies. The credit
ratings assigned to the Bank and such subsidiaries are an assessment by rating
agencies of their ability to pay their obligations when due, affecting the cost
of financing and other conditions.</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;">Rating agencies
regularly review the Group&#8217;s long-term debt ratings based on several factors
including financial solvency and other circumstances that affect the financial
sector in general. There is no assurance that the Group&#8217;s current ratings or
outlook will be maintained, and any actual or planned reduction in such ratings
or outlook, whether to below investment grade or any other level, could
increase the Group&#8217;s financing cost and limit or deteriorate the Group&#8217;s ability
to access the capital markets, secured financing markets (affecting its
capacity to replace its impaired assets with other assets bearing better
ratings) or inter-bank markets through wholesale deposits, or even lead to a
failure to comply with certain contracts or generate additional obligations
under those contracts, such as the need to grant additional guarantees, due to
the fact that credit ratings are used in some contracts to activate
non-compliance and early termination clauses or serve as a basis for demanding
additional guarantees if they fall below certain levels.</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 Group is
required to cancel contracts due to a ratings reduction leading to early
termination, it may not be able to replace them on similar terms or at all,
which could have a material adverse impact on its business, financial condition
and 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>


</DIV>
<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;">A ratings reduction could also have an adverse effect on the Group&#8217;s
reputation or on its ability to sell or market some of its products or
participate in certain transactions, and could cause a loss of customer
deposits or lead to third parties being less willing to carry out commercial
transactions with the Group, especially transactions requiring a minimum rating
for investment, which 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: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;">Moreover, the Group&#8217;s
ratings may be affected by a decline in the rating for Spanish sovereign debt,
including because the Group holds a substantial amount of securities issued by
the Kingdom of Spain, autonomous communities within Spain and other Spanish
issuers. The Group&#8217;s exposure as of December 31, 2019 to Spanish sovereign debt
was &#8364;50,905 million, representing 7% of the Group&#8217;s total consolidated assets
(compared to &#8364;48,473 million and &#8364;51,410 million, representing 7% and 7% of the
Group&#8217;s total consolidated assets as of December 31, 2018 and 2017,
respectively). Any decline in the Kingdom of Spain&#8217;s credit ratings could
adversely affect the value of the respective debt portfolios held by the Group
or otherwise materially adversely affect the Group&#8217;s business, financial
condition and results of operations.</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;">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:0cm;margin-bottom: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;">BBVA depends in part upon dividends and other funds from
subsidiaries, which payment could be beyond BBVA&#8217;s control </font></i></b></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;">Some of the Group&#8217;s
operations are conducted through BBVA&#8217;s subsidiaries. As a result, BBVA&#8217;s
results (and its ability to pay dividends) depend in part on the ability of its
subsidiaries to generate earnings and to pay dividends to BBVA. However, as a
result in part of the Group&#8217;s decision to follow a multiple-point-of-entry
resolution strategy (as part of the framework for the resolution of financial
entities designed by the Financial Stability Board (FSB)), BBVA&#8217;s subsidiaries
are required to manage their own liquidity autonomously (obtaining deposits or
accessing markets using their own rating) and their payment of dividends,
distributions and advances will depend on their earnings and liquidity and the
overall state of their business, among other considerations, subject to any
legal, regulatory and contractual restrictions.</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, the
Bank&#8217;s right to receive any assets of any of its 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-US style="font-size:10.0pt;">Regulatory
Risks&#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;">&#8221;).&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;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Group is exposed to risks related to the continued
existence of certain reference rates and the transition to alternative
reference rates </font></i></b></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;">In recent years,
international regulators are driving a transition from the use of interbank
offer rates (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">IBORs</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), including EURIBOR, LIBOR and EONIA, to
alternative risk free rates (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">RFRs</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). This has resulted in regulatory
reform and changes to existing IBORs, with further changes anticipated. These
reforms and changes may cause an IBOR to perform differently than it has done
in the past or to be discontinued. For example, in 2017, the U.K. Financial
Conduct Authority announced that it will no longer persuade or compel banks to
submit rates for the calculation of LIBOR after 2021, and EONIA modified its methodology
on October 2, 2019 and will likely be discontinued as from January 2022. In
November 2019, the determination methodology for EURIBOR was changed to a new
hybrid methodology using transaction-based data and other sources of data. </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;">Uncertainty as to the
nature and extent of such reforms and changes, and how they might affect
financial instruments, may adversely affect the valuation or trading of a broad
array of financial instruments that use IBORs, including any EURIBOR, EONIA or
LIBOR-based securities, loans, deposits and derivatives that are issued by the
Group or otherwise included in the Group&#8217;s financial assets and liabilities.
Such uncertainty may also affect the availability and cost of hedging
instruments and borrowings. The Group is particularly exposed to EURIBOR-based
financial instruments.</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:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">It is not possible to predict the timing or full effect of the transition
to RFRs. As a result of such transition, the Group will be required to adapt or
amend documentation for new and the majority of existing financial instruments,
and may be subject to disputes (including with customers of the Group) related
thereto, either of which could have an adverse effect on the Group&#8217;s results of
operations. The implementation of any alternative RFRs may be impossible or
impracticable under the existing terms of certain financial instruments. Such
transition could also result in pricing risks arising from how changes to
reference rates could impact pricing mechanisms in some instruments, and could
have an adverse effect on the value of, return on and trading market for such
financial instruments and on the Group&#8217;s profitability. In addition, the
transition to RFRs will require important operational changes to the Group&#8217;s
systems and infrastructure as all systems will need to account for the changes
in the reference rates.</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;">Any of these factors
may 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:0cm;margin-bottom: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;">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: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;">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).
Recent and ongoing political processes such as Brexit, the surge of populist
trends in several European countries, health-related crisis, 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:0cm;margin-bottom: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;">The Group has a substantial amount of commitments with
personnel considered wholly unfunded due to the absence of qualifying plan
assets</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;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 commitments with personnel which are
considered to be wholly unfunded are recognized under the heading
&#8220;Provisions&#8212;Provisions for pensions and similar obligations&#8221; in its
consolidated balance sheets included in the Consolidated Financial Statements.
See Note 24 to the Consolidated Financial Statements.</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;">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 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;)
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.</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;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">LEGAL, REGULATORY, TAX AND REPORTING RISKS</font></b></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;">Legal Risks</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">The Group is party to a number of legal and regulatory actions
and proceedings</font></i></b></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;">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: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;">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 the 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 the claimants argue that certain provisions of such
agreements should be declared null and void (including provisions concerning
fees and other expenses, early termination and the use of certain interest rate
indexes in mortgage loans). The application of certain interest rates and other
conditions in certain credit card contracts is also being challenged in the
Spanish courts. Legal and regulatory actions and proceedings currently faced by
other financial institutions regarding these and other matters, especially if
such actions or proceedings result in consumer-friendly rulings, could also
adversely affect 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;">On December 14, 2017,
the Spanish Supreme Court issued judgment 669/2017 regarding consumer mortgage
loans linked to the interest rate index known as IRPH (the average rate for
mortgage loans with a term exceeding three years for the acquisition of
free-market homes granted by credit institutions in Spain), which was
calculated by the Bank of Spain and published in the Official State Journal,
which ruling confirmed that the mere referencing of a mortgage loan to the IRPH
did not imply a lack of transparency.</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;">A request for a
preliminary ruling was subsequently made to the European Court of Justice,
which questioned the judgment adopted by the Spanish Supreme Court. On
September 10, 2019, the Attorney General of the European Court of Justice issued
a report in which he concluded that Bankia, S.A. (the Spanish bank that is a
party to this proceeding) complied with the transparency requirement imposed by
applicable European legislation. The Attorney General also stated that national
judges are responsible for assessing compliance with applicable transparency
obligations in each particular case. However, the conclusions reached by the
Attorney General in his report are not binding on the European Court of
Justice, which is still to rule on the matter. If the European Court of Justice
were to adopt a ruling contrary to the Group&#8217;s interests, the Group&#8217;s results
could be materially adversely affected. The precise impact of such a ruling
would depend on (i) the Court&#8217;s decision regarding which interest rate should
be applied to consumer mortgage loans linked to IRPH, and (ii) whether the
judgment would be applied retroactively. It is currently expected that the
European Court of Justice will issue a ruling in this matter in March 2020.</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;">The Group is also
involved in antitrust proceedings and investigations in certain countries which
could, among other things, 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-US style="font-size:10.0pt;">Comisi&#243;n Federal de Competencia Econ&#243;mica</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
or the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">COFECE</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) launched an antitrust investigation relating to alleged
monopolistic practices of certain financial institutions, including BBVA&#8217;s
subsidiary BBVA Bancomer, S.A. (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA Mexico</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) 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-US style="font-size:10.0pt;">Comisi&#243;n Nacional Bancaria y de Valores</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) also
initiated a separate investigation regarding this matter, which resulted in
certain fines, insignificant in amount, being initially imposed, which BBVA
Mexico has challenged. In March 2018, BBVA Mexico 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 judge assigned to hear these proceedings dismissed plaintiffs&#8217; claims in their
entirety but permitted plaintiffs to file an amended complaint, which the
defendants have again moved to dismiss.</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160; &nbsp;</font></b></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:18.0pt;"><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, 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: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 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 contrary to
the Group&#8217;s interests, 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:0cm;margin-bottom: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;">The Spanish judicial authorities are carrying out a criminal
investigation relating to possible bribery, revelation of secrets and
corruption by the Bank</font></i></b></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;">Spanish judicial
authorities are investigating the activities of Centro Exclusivo de Negocios y
Transacciones, S.L. (&#8220;Cenyt&#8221;). Such investigation includes the provision of
services by Cenyt to the Bank. On July 29, 2019, the Bank was named as an
investigated party (investigado) in a criminal judicial investigation
(Preliminary Proceeding No. 96/2017 &#8211; Piece No. 9, Central Investigating Court
No. 6 of the National High Court) for alleged facts which could represent the
crimes of bribery, revelation of secrets and corruption. As at the date of this
Annual Report, no formal accusation against the Bank has been made. Certain
current and former officers and employees of the Group, as well as former
directors of the Bank, have also been named as investigated parties in
connection with this investigation. The Bank has been and continues to be
proactively collaborating with the Spanish judicial authorities, including sharing
with the courts information from its on-going forensic investigation regarding
its relationship with Cenyt. The Bank has also testified before the judge and
prosecutors at the request of the Central Investigating Court No. 6 of the
National High Court.</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;">On February 3, 2020,
the Bank was notified by the Central Investigating Court No. 6 of the National
High Court of the order lifting the secrecy of the proceedings. </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 criminal judicial
proceeding is at a preliminary stage. Therefore, it is not possible at this
time to predict the scope or duration of such proceeding or any related
proceeding or its or their possible outcomes or implications for the Group,
including any fines, damages or harm to the Group&#8217;s reputation caused thereby.</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;">Regulatory Risks</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">The Group is subject to substantial regulation and
regulatory and governmental oversight. Changes in the regulatory framework,
including the different local regulations applicable to the Group, 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: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;">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 as a consequence of some of these
proposals. Other proposals are still being developed.</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:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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, legislation regarding mortgages and banking
products, consumer and user regulations, 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,
legislation on the prevention of money laundering and the financing of
terrorism, market abuse and integrity legislation, regulations regarding
conduct with financial market customers, anti-corruption legislation,
heightened reporting requirements and reforms of derivatives, other financial
instruments, investment products and market infrastructures. In addition, the
European supervisory and regulatory framework has changed and intensified,
following the creation of the Single Supervisory Mechanism and the SRM.</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;">The specific effects
of these new regulations are often uncertain given their early stage of
elaboration or implementation. In addition, while some of these new laws and
regulations have already entered into force, the manner in which they will be
applied to the operations of financial institutions is still evolving. The
discretion that regulators and supervisors have when regulating and supervising
banks also generates uncertainty.</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;">Moreover, local
legislation in certain jurisdictions where the Group operates differs in a
number of material respects from equivalent regulations in Spain or the United
States and may, for example, establish different capital requirements, prohibit
the Bank from engaging in certain activities or require specific authorization
for those activities, which may give rise to higher compliance costs. See &#8220;&#8212;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Business
Risks&#8212;Risks Deriving from our Geographic Distribution&#8212;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><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:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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, and increase the Group&#8217;s
compliance costs. </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;">Any required changes
to the Group&#8217;s business operations resulting from the legislation and
regulations applicable to such business, in particular in Spain, Mexico, the
United States or Turkey, 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
its business, financial condition and results of operations. </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;"><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: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 its capacity as a
Spanish credit institution, the Bank is subject to compliance with a &#8220;Pillar 1&#8221;
solvency requirement, a &#8220;Pillar 2&#8221; solvency requirement and a &#8220;combined capital
buffer requirement&#8221; at both the individual and consolidated level. 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</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-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
latest Supervisory Review and Evaluation Process (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">SREP</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) carried out by
the European Central Bank (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">ECB</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), the Bank is required to maintain,
from January 1, 2020 on a consolidated basis, a common equity tier 1 capital
ratio (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CET1</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) of 9.27% and a total capital ratio of 12.77%. This total
capital requirement on a consolidated basis includes: (i) a Pillar 1
requirement of 8% that should be fulfilled by a minimum of 4.5 p.p. of CET1;
(ii) a Pillar 2 requirement of 1.5 p.p. of CET1 (the same as that imposed in
the previous SREP decision); (iii) a Capital Conservation buffer of 2.5 p.p. of
CET1; (iv) an Other Systemic Important Institution buffer (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">D-SIBs</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) of
0.75 p.p. of CET1; and (v) a Countercyclical Capital buffer 0.02 p.p. of CET1.
Additionally, the Bank is required to maintain, from January 1, 2020, on an
individual basis, a CET1 capital ratio of 8.53% and a total capital ratio of
12.03%.</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,
2019, the Bank&#8217;s phased-in total capital ratio was 15.92% on a consolidated
basis and 20.81% on an individual basis (15.71% and 22.07%, respectively, as of
December 31, 2018), and its CET1 phased-in capital ratio was 11.98% on a
consolidated basis and 16.42% on an individual basis (11.58% and 17.45%,
respectively, as of December 31, 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>


</DIV>
<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;">While such ratios exceed the applicable regulatory requirements described
above, 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: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;">Should the Bank or the
Group fail to comply with its &#8220;combined capital buffer requirement&#8221;, it would
have to calculate its Maximum Distributable Amount (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">MDA</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) and, until
such calculation was done and reported to the Bank of Spain, the affected
entity would not be able to make any distributions relating to additional tier
1 instruments (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Discretionary Payments</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). Once the MDA was calculated
and reported, any Discretionary Payments would be limited to the calculated
MDA.</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;">In addition, if the
Bank or the Group fails to comply with the applicable capital requirements,
additional &#8220;Pillar 2&#8221; requirements could be imposed and early action measures
could be adopted or, ultimately, resolution measures could be implemented by
the resolution authorities in accordance with Law 11/2015 which, together with
RD 1012/2015 (as defined herein), transposes Directive 2014/59/EU of the
European Parliament and of the Council of May 15, 2014 establishing a framework
for the recovery and resolution of credit institutions and investment firms (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BRRD</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)
into Spanish law. See &#8220;&#8212;</font><i><font face="Times New Roman,serif" lang=EN-US 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><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; below.</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;">Moreover, CRR II (as
defined herein) has established a binding leveraging ratio requirement of 3% of
tier 1 capital. Any failure to comply with this leveraging ratio would also
result in the need to calculate and report the MDA and the same restrictions on
Discretionary Payments.</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, the CRR
II proposes new requirements that capital instruments must meet in order to be
considered AT1 or Tier 2 instruments, including some grandfathering measures
until June 28, 2025. Once CRR II has been transposed and the grandfathering
period has elapsed, AT1 and/or Tier 2 instruments that do not comply with the
new requirements at that date will no longer be computed as capital
instruments. This could give rise to shortfalls in regulatory capital and,
ultimately, a failure to comply with the applicable regulatory minimum capital
requirements, with the aforementioned consequences.</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;">On February 1, 2019, the
Bank announced its CET1 fully-loaded capital ratio target (on a consolidated
basis) to be in the range between 11.5% and 12.0%. No assurance can be given
that the Bank will maintain this target or meet it in the future. Any failure
by the Bank to maintain a consolidated CET1 capital ratio in line with its CET1
capital target, or any change in such target, could be negatively perceived by
investors and/or regulators, who may interpret that the Bank lacks capacity to
generate capital or that its capital position has deteriorated, any of which
could adversely affect&nbsp;the market price or value or trading behavior of
any securities issued by the Bank (and, in particular, any of its&nbsp;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: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;">On March 15, 2018 the
ECB published its supervisory expectations regarding prudential provisions for
non-performing loans (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">NPLs</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) as an addendum (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Addendum</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) to the
ECB guidance on NPLs for credit institutions published on March 20, 2017, where
the ECB&#8217;s supervisory expectations with respect to the identification,
management, measurement and write-off of NPLs were clarified with the aim of
avoiding an excessive build-up of non-covered aged NPLs on banks&#8217; balance
sheets.</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;">The supervisory
expectations set out in the Addendum are applicable to new NPLs classified as
such starting on April 1, 2018. The ECB will assess bank practices at least
once per year and, from 2021, banks must inform the ECB of any difference
between their practices and the prudential provision expectations. The
implementation of such expectations may affect the minimum coverage levels
required for new defaulted loans and, if applicable, the amounts of provisions
relating to NPLs exposures.</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;">The ECB has also
announced that it is conducting a targeted review of the internal models (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">TRIM</font></b><font 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 with a view to harmonizing
such approaches throughout the European Union. Even though the results of the
TRIM are not yet known, if they require changes to the internal models used by
banks, including BBVA, this could in turn give rise to increases or decreases
in the banks&#8217; capital needs.</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:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On December 7, 2017 the Basel Committee on Banking Supervision (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BCBS</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)
announced the completion of the 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 risk sensitivity, as well as to 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
(&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">RWA</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">s&#8221;) using internal risk models as compared to the standardized
approach, with a minimum capital requirement of 50% of RWAs calculated using
only the standardized approaches applying from January 1, 2022 and increasing
to 72.5% from January 1, 2027, which could in turn imply a decrease in the
capital ratios of the Bank and the Group. To the extent the Basel III reforms
result in an increase in the Bank&#8217;s total RWAs, they could also result in a
corresponding decrease in the Bank&#8217;s capital ratios.</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;">The lack of uniformity
in the implementation of the Basel III reforms across jurisdictions in terms of
timing and applicable regulations could give rise to inequalities and
competition distortions. Moreover, the lack of regulatory coordination, with
some countries bringing forward the application of Basel III requirements or
increasing such requirements, could adversely affect an entity with global
operations such as the Group and could affect its profitability.</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;">There can be no
assurance that the above capital requirements will not adversely affect the
Bank&#8217;s ability to make Discretionary Payments, 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, an increase in capital requirements could negatively affect the
return on equity (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">ROE</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) and other banking financial result indicators.</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;"><b><i><font face="Times New Roman,serif" lang=EN-US 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></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;">The measures and
authorities established by the BRRD, Law 11/2015 and RD 1012/2015 (especially
the Spanish Bail-in Power, including a Non-Viability Loss Absorption), affect
the manner in which credit institutions and investment firms are managed and,
under certain circumstances, creditor rights.</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;">In the event that the
Spanish Resolution Authority considers that: (i) an institution is failing or
likely to fail, (ii) there is no reasonable prospect that any other measure
would prevent the failure of such institution; and (iii) a resolution action is
in the public interest, the Spanish Resolution Authority may apply,
individually or on a combined basis, the following four resolution instruments:
(a) the sale of all or part of the institution&#8217;s business, (b) its transfer to
a bridge entity (which could limit its capacity to satisfy its payment
obligations), (c) the transfer of certain asset categories for management by
one or more management entities and (d) the application of the Spanish Bail-in
Power. </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;">The Spanish Resolution
Authority could also adopt a Non-Viability Loss Absorption measure in the event
that it determines that the entity complies with the conditions for resolution
and that it would become non-viable unless some or all of the capital
instruments are redeemed or converted into shares or other equity instruments. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As part of the application of the Spanish Bail
in Power (including a Non-Viability Loss Absorption), unsecured debt
securities, subordinated instruments and shares (among other securities) issued
by the Bank, could be subject to a full or partial write-down and/or conversion
into equity or other securities or obligations. There is no assurance that the
mere existence of these powers or any suggestion of their exercise, even if the
likelihood of such exercise is remote, will not affect the price and trading
behavior of such securities issued by the Bank.</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:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Therefore, as a result of the application of the Spanish Bail-in Power
(including a Non-Viability Loss Absorption), the owners of those securities
could lose all or part of their investment, and their rights under those
securities could be adversely affected, or these securities could be
substituted for by other securities with less advantageous terms. Such exercise
could also involve modifications to, or the disapplication of, provisions in
the terms and conditions of such securities including alteration of the
principal amount or any interest payable thereon, the maturity date or any
other dates on which payments may be due, as well as the suspension of payments
for a certain period. The Spanish Resolution Authority may exercise any of the
foregoing measures without prior warning to the owners of the affected
securities. Further, their application is unpredictable and may depend on a
series of factors that may be outside of the Bank&#8217;s control. Accordingly, the
owners of any affected securities may not be able to anticipate the application
of the Spanish Bail-in Power and/or a Non-Viability Loss Absorption. </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;">In the event that the
treatment of a holder of the Bank&#8217;s affected securities resulting from the
application of the Spanish Bail-in Power (other than a Non-Viability Loss
Absorption) is less favorable than would have been the case in an ordinary
insolvency proceeding, the affected creditor would be able to seek compensation
in accordance with the BRRD and the SRM Regulation, subject to the limitations
and deadlines established in applicable legislation. However, there is
uncertainty with respect to the amounts that could be collected and the payment
date. Moreover, there are uncertainties as to whether an affected holder would
be entitled to compensation under the BRRD and the SRM Regulation after the
implementation of a Non-Viability Loss Absorption. </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;">For further
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</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;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;">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></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 a Spanish credit
institution, the Bank must maintain a minimum level of eligible liabilities and
own funds compared to its total liabilities and own funds (the minimum
requirement for own funds and eligible liabilities or &#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;).&nbsp;</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;">On November 19, 2019,
the Bank announced that it had received a communication from the Bank of Spain
regarding its MREL, as determined by the Single Resolution Board (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">SRB</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;),
that has been calculated taking into account the financial and supervisory
information as of December 31, 2017. In accordance with such communication, the
Bank has to reach, by January 1, 2021, an MREL equal to 15.16% on a
sub-consolidated level (as described below). Within this MREL, an amount equal
to 8.01% of the total liabilities and own funds must be met with subordinated
instruments, once the allowance established in such requirement is applied.
This MREL is equal to 28.50% of RWAs, while the subordination requirement
included in the MREL is equal to 15.05% of RWAs, once the corresponding
allowance has been applied.</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;">Pursuant to the
Group&#8217;s multiple point of entry resolution strategy, as established by the SRB,
the Bank&#8217;s resolution group on a sub-consolidated level consists of the Bank
and its subsidiaries that belong to the European resolution group. As of
December 31, 2017, the total liabilities and own funds of the resolution group
amounted to &#8364;371,910 million, representing the Bank more than 95% of such amount.
The RWAs of the resolution group amounted to &#8364;197,819 million at that date.</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;">According to the
Bank&#8217;s estimates, the current own funds and eligible liabilities structure of
our resolution group meets the MREL and subordination requirement. However,
such requirements are subject to change and no assurance can be given that the
Bank will not be subject to more stringent requirements in the future.</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;">If
the Spanish Resolution Authority believes that there could be any impediments
to the resolution of the Bank and/or the Group, more stringent requirements
could be imposed.</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:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The EU Banking Reforms (as defined herein) provide that a bank&#8217;s failure
to comply with its MREL or its subordination requirement should 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 and their
power to impose early intervention measures, administrative penalties and other
administrative measures. If there is any shortfall in an institution&#8217;s level of
eligible liabilities and own funds, and the own funds of such institution are
otherwise contributing to the &#8220;combined buffer requirement&#8221;, those own funds
will automatically be used instead to meet that institution&#8217;s MREL or
subordination requirement and will no longer count towards its &#8220;combined buffer
requirement&#8221;, which may lead the institution to fail to meet its &#8220;combined
buffer requirement&#8221;. This would require such institution to calculate its MDA,
and the relevant resolution authority would be able (but not obligated to)
impose restrictions on Discretionary Payments (see &#8220;&#8212;</font><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><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). As a result of the above,
upon the entry into force of the EU Banking Reforms on June 27, 2019, the Bank
must fully comply with its &#8220;combined buffer requirement&#8221; in addition to its
MREL and subordination requirement in order to make sure that it is able to
make Discretionary Payments. </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;">In addition, under the
European Banking Authority (</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;EBA&#8221;</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) guidelines on triggers for use of
early intervention measures dated 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 MREL may put an institution in a situation where
conditions for early intervention are met, which may result in the application
by the competent resolution authority of early intervention measures.</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;">Moreover, if 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;) requirements (which are currently only applicable to
entities that are considered to be of global systemic importance (G-SIBs)) were
to be extended to non-G-SIBs, or if the Bank was to be classified as a G-SIB,
further requirements similar to MREL could be imposed on the Bank in the
future.</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;">Any failure or
perceived failure by the Bank and/or the Group to comply with its MREL and the
subordination requirement may have a material adverse effect on the Bank&#8217;s
business, financial condition and results of operations and could result in the
imposition of restrictions or prohibitions on Discretionary Payments. There can
also be no assurance as to the manner in which the &#8220;Pillar 2&#8221; additional own
funds requirements, the &#8220;combined buffer requirement&#8221; and the MREL and
subordination requirement (once in effect) will be jointly implemented in
Spain, or if the combined effect of these requirements will restrict our
ability to make any Discretionary Payments. </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;"><b><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></b></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;">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;) is a quantitative liquidity standard developed by the BCBS
to ensure that those banking organizations to which this standard is to be
applied have sufficient high-quality liquid assets to cover expected net cash
outflows over a 30-day liquidity stress period. The LCR has been progressively
implemented since 2015 in accordance with the CRR, with banks having had to
fully comply with such ratio since January 1, 2018. As of December 31, 2019,
the Group&#8217;s LCR was 129%.</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;">The BCBS has also put
forward 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 has a time horizon of
one year. This ratio 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. Although the BCBS contemplated that EU Member States had to implement
such ratio by January 1, 2018, with no phase-in, the NSFR has not yet been
adopted. The EU Banking Reforms propose the introduction of a harmonized
binding requirement for the NSFR across the European Union.</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;">Various elements of
the LCR and the NSFR, and how they are implemented by national banking
regulators, may lead to changes to certain business practices, which could
expose the Bank to additional costs (including increased compliance costs) or
otherwise affect the profitability of the business, which could 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>


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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 style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US 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></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;">Spanish credit
institutions, including BBVA, are required to make at least one 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;">)
(&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">FRN</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), payable on request of the FROB. The total amount of
contributions by all Spanish banking entities must equal at least 1% of the
aggregate amount of all deposits guaranteed by the Credit Entities 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;">)
(&#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;) by December 31, 2024. The contributions are adjusted to the risk
profile of each institution in accordance with the criteria set out in the
relevant regulation. Moreover, the FROB may decide to collect additional
contributions. Furthermore, Law 11/2015 establishes an additional contribution
that seeks to provide financing to the FROB in its capacity as the Spanish
Resolution Authority. This contribution amounts to 2.5% of the aforementioned
annual ordinary contribution to the FRN. Finally, since 2016, the Bank is
required to make contributions directly to the Single Resolution Fund. </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;">Any funding
requirements imposed on the Bank pursuant to the foregoing or otherwise in any
of the jurisdictions in which it operates could have a material adverse effect
on the Bank&#8217;s business, financial condition and results of operations.</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;"><b><i><font 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></b></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;">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, 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: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;">Tax Risks</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">Increased taxation and other burdens 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: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;">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 (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">EU 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: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;">The Commission&#8217;s Proposal
has very broad scope and could, if implemented, 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: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;">Under the Commission&#8217;s
Proposal, the EU 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 would be considered to be &#8220;established&#8221; in a
participating Member State in a broad variety of circumstances, including: (i)
by carrying out transactions with a person established in a participating
Member State or (ii) when the financial instrument involved in the transaction
has been issued in a participating Member State.</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;">However, the
Commission&#8217;s 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: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;">While the final outcome of the Commission&#8217;s Proposal continues to be
uncertain, in February 2020 a financial transaction tax was announced in Spain
which is based in part on the Commission&#8217;s Proposal (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Spanish FTT</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;).
The Spanish FTT rate is proposed to be 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. Trades of the
Bank&#8217;s shares would be subject to the Spanish FTT. If the directive for the
implementation of the EU FTT is approved, the Spanish FTT would have to be
adapted to the content of the directive. The EU FTT could impose a higher tax
rate than that currently proposed in the Spanish FTT bill. </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;">There can be no
assurance that additional financial transaction taxes will not be adopted by
the authorities of the jurisdictions where the Bank operates and, if
introduced, certain financial instrument transactions may be subject to higher
expenses.</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;">Any levies or taxes
imposed on the Bank&#8217;s securities or activities or otherwise affecting the Bank
pursuant to the foregoing or otherwise could have a material adverse effect on
the Bank&#8217;s business, financial condition and results of operations.</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;">Reporting Risks</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">BBVA&#8217;s financial statements are based in part on
assumptions and estimates which, if inaccurate, could cause material
misstatement of the results of its operations and financial position</font></i></b></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;">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, particularly where such assets
do not have a readily available market price, 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: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;">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: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;">The further
development of standards and interpretations under IFRS-IASB could also
significantly affect the results of operations, financial condition and
prospects of the Group. See &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8212;Legal Risks&#8212;Regulatory Risks&#8212;Our financial
results, regulatory capital and ratios may be negatively affected by changes to
accounting standards</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;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">INTERNAL CONTROL
RISKS </font></b></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;">Compliance Risks</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">The Group is exposed to compliance risks which may have a
material adverse effect on the Group&#8217;s business, financial condition and
results of operations, and may damage the Group&#8217;s reputation</font></i></b></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 part of its
business, the Group offers and markets banking and investment products and
services to its customers and actively operates in financial markets on its own
behalf and on behalf of its customers in the various jurisdictions in which it
operates. </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 nature
of its operations and the fact that the Group operates in many different
jurisdictions around the world, the Group must comply with a wide array of
laws, rules and regulations, many of which have different scopes and
implications. Legal fragmentation may be further exacerbated by how such laws,
rules and regulations are implemented by the relevant local supervising
authorities. This fragmentation makes compliance risk management particularly
complex, as compliance programs must address the different legal requirements
facing the Group.&#160; </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:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Compliance risk relates to the fact that the Group must comply with many
different laws, rules and regulations. For example, the Group is subject to
laws, rules and regulations regarding money laundering and the financing of
terrorism. The Group must also abide by applicable sanctions programs. The most
relevant sanctions programs are those administered by the United Nations, the
European Union and the United States (including sanctions imposed by the Office
of Foreign Assets Control under the U.S. Treasury Department). In addition, the
Group&#8217;s operations are subject to various anti-corruption laws, including the
U.S. Foreign Corrupt Practices Act of 1977 and the UK Bribery Act of 2010.
These 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
whose employees are considered to be government officials. The Group&#8217;s
activities are also subject to complex customer protection and market integrity
regulations.</font></font><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;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 has
compliance programs intended to mitigate the Group&#8217;s compliance risk. </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">However, t</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">he Group cannot provide assurance that the controls
established within the Group to ensure compliance with these laws, rules and
regulations will not be circumvented or that they will otherwise be sufficient
to prevent their violation. A violation of the applicable laws, rules and
regulations could lead to material consequences, including 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, any of which 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: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;">Further, compliance
with these laws, rules and regulations can represent a material financial
burden for the Group</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 raise important technical problems. Further,
the Group engages in investigations relating to potential violations of these
laws, rules and regulations from time to time and any such investigations or
any related proceedings could be time-consuming and costly and their outcomes
difficult to predict.</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;">Moreover, some of our
management, 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 such persons 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: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;">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. 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. Actual or alleged misconduct 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 actions taken by regulators or others
in response to such misconduct, could lead to, among other things, sanctions,
fines and reputational damage, any of which could have a material adverse
effect on the Group&#8217;s business, financial condition and results of operations.</font></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;">IT
Risks</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">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></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;">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>

<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;"><b><i><font face="Times New Roman,serif" lang=EN-US 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></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;">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: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;">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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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 criminal groups, 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>

<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;">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: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;">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>

<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;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The financial industry is increasingly dependent on
information technology systems, which may fail, may not be adequate for
required tasks or may no longer be available</font></i></b></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;">Our activities are
increasingly dependent on highly sophisticated information technology</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;">(&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">IT</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#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 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: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;">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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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;">Over the past few years, there have been a series of distributed denial
of service attacks on financial services companies, including the Group. Distributed
denial of service attacks are designed to saturate the targeted 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: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, fraud
risk may increase as the Group offers more products online or through mobile
channels.</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;">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: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;">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>

<h1 style="border:none;margin-bottom:11.0pt;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" lang=EN-US style="font-size:10.0pt;">ITEM
4.</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;">INFORMATION ON THE COMPANY</font></b></font></h1>

<h2 style="border:none;margin-bottom:11.0pt;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; &nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">History and Development of the Company</font></b></font></h2>

<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;">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>

<p 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" lang=EN-US style="font-size:10.0pt;">Capital Expenditures</font></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;">Our principal
investments are financial investments in our subsidiaries and affiliates. The
main capital expenditures from 2017 to the date of this Annual Report were the
following:</font></font></p>

<p 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" lang=EN-US style="font-size:10.0pt;">2019</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;">In 2019 there were no
significant capital expenditures.</font></font></p>

<p 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" lang=EN-US style="font-size:10.0pt;">2018</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;">In 2018 there were no
significant capital expenditures.</font></font></p>

<p 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" lang=EN-US style="font-size:10.0pt;">2017</font></i></b></font></p>

<p 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=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 BBVA</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;">On March 22, 2017, we
acquired 41,790,000,000 shares (in the aggregate) of Garanti BBVA (amounting to
9.95% of the total issued share capital of Garanti BBVA) 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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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: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: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;">Our principal
divestitures are financial divestitures in our subsidiaries and affiliates. The
main capital divestitures from 2017 to the date of this Annual Report were the
following:</font></font></p>

<p 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" lang=EN-US style="font-size:10.0pt;">2019</font></i></b></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;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;line-height:115%;">Sale of BBVA Paraguay</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;line-height:115%;">On
August 7, 2019, BBVA reached an agreement with Banco GNB Paraguay, S.A., an
affiliate of Grupo Financiero Gilinski, for the sale of our wholly-owned
subsidiary Banco Bilbao Vizcaya Argentaria Paraguay, S.A. (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">BBVA Paraguay</font></b><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: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 consideration for
the acquisition of BBVA Paraguay&#8217;s shares amounts to approximately $270 million
in the aggregate. The abovementioned consideration is subject to certain
adjustments for matters between the signing and closing dates of the
transaction. </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;">It is expected that
the transaction will result in a capital gain, net of taxes, of approximately
&#8364;40 million and in a positive impact on the BBVA Group&#8217;s Common Equity Tier 1
(fully loaded) of approximately 6 basis points. The closing of the transaction
is expected to take place during the first quarter of 2020, after obtaining the
relevant regulatory authorizations from the competent authorities.</font></font></p>

<p 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" lang=EN-US style="font-size:10.0pt;">2018 </font></i></b></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;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 Chile</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;">On November 28, 2017,
BBVA received a binding offer from The Bank of Nova Scotia (&#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;)
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. The sale was completed on July 6,
2018. </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 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:11.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;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;">Transfer
of real estate business and sale of stake in Divarian</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;">On November 29, 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: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 Business
comprised: (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: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 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>

<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 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: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 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;">&nbsp;&nbsp; &nbsp;</font></b></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;">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:11.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;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: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 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: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 consideration
received in cash by BBVA in the sale amounted to &#8364;478 million.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;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
with Voyager Investing UK Limited Partnership (Anfora) </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;">On December 21, 2018,
BBVA reached an agreement with Voyager Investing UK Limited Partnership (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Voyager</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;),
an entity managed by Canada Pension Plan Investment Board, for the transfer by
us of a portfolio of credit rights which was mainly composed of non-performing
and in default mortgage credits. </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 transaction was
completed during the third quarter of 2019 and resulted in a capital gain, net
of taxes, of &#8364;138 million and a slightly positive impact on the BBVA Group&#8217;s
Common Equity Tier 1 (fully loaded).</font></font></p>

<p 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" lang=EN-US style="font-size:10.0pt;">2017</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;">In 2017 there were no
significant capital divestitures.</font></font></p>

<p 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" lang=EN-US style="font-size:10.0pt;">Public Information</font></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 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.</font></font></p>

<h2 style="border:none;margin-bottom:12.0pt;margin-left:17.85pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-17.85pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">B.
Business 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. </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Internationally diversified and with strengths
in the traditional banking businesses of retail banking, asset management and
wholesale banking, the Group is committed to offering a compelling digital
proposition focused on customer experience.</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 this purpose, the Group is focused on increasingly
offering products online and through mobile channels, improving the
functionality of its digital offerings and refining the customer experience. In
2019, the number of digital and mobile customers and the volume of digital
sales continued to increase.</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
2019, the Group adopted a common global brand through the unification of the
BBVA brand as part of its efforts to offer a unique value proposition and a
homogeneous customer experience in the countries in which the Group operates.</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 six operating segments:</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;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:10.0pt;line-height:13.0pt;">&#8226;&#160;&#160;&#160;&#160;&#160;&#160;
Spain;</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;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: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-align:justify;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:53.55pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-39.35pt;"><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:35.4pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;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;
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-align:justify;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>


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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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">34</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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: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;">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. BBVA&#8217;s 20% stake in Divarian is also included
in this unit. For more information regarding Divarian, see </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;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;C. 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>


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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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">35</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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-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 the Group&#8217;s total assets by each of BBVA&#8217;s operating
segments and the Corporate Center as of December 31, 2019, 2018 and 2017 was as
follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_4B1A" style="border-collapse:collapse;width:100%;">
 <tr style="height:15.75pt;">
  <td nowrap valign=bottom width=45% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 nowrap valign=bottom width=55% 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" lang=EN-US style="font-size:9.0pt;">As of December 31,
  </font></b></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=45% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=19% 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" lang=EN-US style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=18% 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" lang=EN-US style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=18% 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" lang=EN-US style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=45% style="border:none;border-bottom:solid white 1.0pt;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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 nowrap valign=bottom width=55% style="border:none;border-bottom:solid white 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" lang=EN-US style="font-size:9.0pt;">(In Millions of
  Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=45% 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" lang=EN-US style="font-size:9.0pt;">Spain</font></font></p>
  </td>
 <td width=19% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">365,374</font></font></p>
  </td>
 <td width=18% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">354,901</font></font></p>
  </td>
 <td width=18% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">350,520</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=45% 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" lang=EN-US style="font-size:9.0pt;">The United States</font></font></p>
  </td>
 <td width=19% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">88,529</font></font></p>
  </td>
 <td width=18% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">82,057</font></font></p>
  </td>
 <td width=18% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">75,775</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=45% 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" lang=EN-US style="font-size:9.0pt;">Mexico</font></font></p>
  </td>
 <td width=19% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">109,079</font></font></p>
  </td>
 <td width=18% style="border-bottom:solid white 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">97,432</font></font></p>
  </td>
 <td width=18% style="border:none;border-right:solid white 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">90,214</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=45% 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" lang=EN-US style="font-size:9.0pt;">Turkey</font></font></p>
  </td>
 <td width=19% style="border:none;border-right:solid white 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">64,416</font></font></p>
  </td>
 <td width=18% style="border:none;border-right:solid white 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">66,250</font></font></p>
  </td>
 <td width=18% style="border:none;border-right:solid white 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">78,789</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=45% 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" lang=EN-US style="font-size:9.0pt;">South America</font></font></p>
  </td>
 <td width=19% style="border:none;border-right:solid white 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">54,996</font></font></p>
  </td>
 <td width=18% style="border:none;border-right:solid white 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">54,373</font></font></p>
  </td>
 <td width=18% style="border:none;border-right:solid white 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">75,320</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=45% 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" lang=EN-US style="font-size:9.0pt;">Rest of Eurasia</font></font></p>
  </td>
 <td width=19% style="border:none;border-right:solid white 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">23,248</font></font></p>
  </td>
 <td width=18% style="border:none;border-right:solid white 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">18,834</font></font></p>
  </td>
 <td width=18% style="border:none;border-right:solid white 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">17,265</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=45% 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: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" lang=EN-US style="font-size:9.0pt;">Subtotal Assets by Operating Segment</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">705,641</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top: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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">673,848</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">687,884</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=45% 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" lang=EN-US style="font-size:9.0pt;">Corporate Center and Adjustments (1)</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(6,951)</font></font></p>
  </td>
 <td width=18% style="border:none;border-right:solid white 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2,841</font></font></p>
  </td>
 <td width=18% style="border:none;border-right:solid white 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2,175</font></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Total Assets BBVA Group</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% 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=EN-US style="font-size:9.0pt;">698,690</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" lang=EN-US style="font-size:9.0pt;">676,689</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" lang=EN-US style="font-size:9.0pt;">690,059</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-17.6pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1)&#160; Includes balance sheet
intra-group adjustments between the Corporate Center and the operating
segments. See &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Presentation of Financial Information</font></i><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&#8212;Changes
in Operating Segments</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&#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-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 profit (loss) attributable to parent
company for each of BBVA&#8217;s operating segments and the Corporate Center for the
years ended December 31, 2019, 2018 and 2017:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_4B1B" style="border-collapse:collapse;width:100%;">
 <tr style="height:26.25pt;">
  <td nowrap valign=bottom width=32% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 valign=bottom 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" lang=EN-US style="font-size:9.0pt;">Profit/(Loss)
  Attributable to Parent Company</font></b></font></p>
  </td>
 <td colspan=3 valign=bottom width=36% 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" lang=EN-US style="font-size:9.0pt;">% of Profit/(Loss)
  Attributable to Parent Company</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=6 nowrap valign=bottom width=68% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border: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-US style="font-size:9.0pt;">For the Year Ended
  December 31, </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=32% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% 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" lang=EN-US style="font-size:8.0pt;">2019</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" lang=EN-US 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: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" lang=EN-US style="font-size:8.0pt;">2017</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: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" lang=EN-US style="font-size:8.0pt;">2019</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: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" lang=EN-US 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: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" lang=EN-US style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=32% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 nowrap valign=bottom width=32% 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" lang=EN-US style="font-size:9.0pt;">(In Millions of
  Euros)</font></b></font></p>
  </td>
 <td colspan=3 nowrap valign=bottom width=36% 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" lang=EN-US style="font-size:9.0pt;">(In Percentage)</font></b></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" lang=EN-US style="font-size:9.0pt;">Spain</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" lang=EN-US style="font-size:9.0pt;">1,386</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1,400</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">877</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" lang=EN-US style="font-size:9.0pt;">23</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" lang=EN-US style="font-size:9.0pt;">24</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" lang=EN-US style="font-size:9.0pt;">16</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" lang=EN-US style="font-size:9.0pt;">The United States</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" lang=EN-US style="font-size:9.0pt;">590</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">736</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">486</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" lang=EN-US style="font-size:9.0pt;">10</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" lang=EN-US style="font-size:9.0pt;">13</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" lang=EN-US style="font-size:9.0pt;">9</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" lang=EN-US style="font-size:9.0pt;">Mexico</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" lang=EN-US style="font-size:9.0pt;">2,699</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2,367</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2,170</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" lang=EN-US style="font-size:9.0pt;">45</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" lang=EN-US style="font-size:9.0pt;">41</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" lang=EN-US style="font-size:9.0pt;">41</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" lang=EN-US style="font-size:9.0pt;">Turkey </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" lang=EN-US style="font-size:9.0pt;">506</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">567</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">823</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" lang=EN-US style="font-size:9.0pt;">8</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" lang=EN-US style="font-size:9.0pt;">10</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" lang=EN-US style="font-size:9.0pt;">15</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" lang=EN-US style="font-size:9.0pt;">South America</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" lang=EN-US style="font-size:9.0pt;">721</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">578</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">847</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" lang=EN-US style="font-size:9.0pt;">12</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" lang=EN-US style="font-size:9.0pt;">10</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" lang=EN-US style="font-size:9.0pt;">16</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" lang=EN-US style="font-size:9.0pt;">Rest of Eurasia</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" lang=EN-US style="font-size:9.0pt;">127</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">96</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">128</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" lang=EN-US style="font-size:9.0pt;">2</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" lang=EN-US style="font-size:9.0pt;">2</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" lang=EN-US style="font-size:9.0pt;">2</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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Subtotal operating segments</font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">6,029</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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">5,743</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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">5,331</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" lang=EN-US style="font-size:9.0pt;">100</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" lang=EN-US style="font-size:9.0pt;">100</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" lang=EN-US style="font-size:9.0pt;">100</font></b></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" lang=EN-US style="font-size:9.0pt;">Corporate Center</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" lang=EN-US style="font-size:9.0pt;">(2,517)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(343)</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,817)</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% 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=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% 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=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% 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=EN-US style="font-size:9.0pt;">&nbsp;</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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3,512</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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">5,400</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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">3,514</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US 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=right style="border:none;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-US 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=right style="border:none;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-US style="font-size:9.0pt;">&nbsp;</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-align:justify;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>


<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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">36</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_42"></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;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 sets forth certain summarized 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, 2019, 2018 and 2017</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 title="F_20F_SMSR_4B1C" 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=7 nowrap valign=bottom width=67% 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=EN-US style="font-size:9.0pt;">Operating Segments</font></b></font></p>
  </td>
 <td nowrap 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td nowrap valign=bottom width=23% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% 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" lang=EN-US style="font-size:6.0pt;">Spain</font></b></font></p>
  </td>
 <td width=11% 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" lang=EN-US style="font-size:6.0pt;">The United States</font></b></font></p>
  </td>
 <td width=10% 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:6.0pt;">South America</font></b></font></p>
  </td>
 <td width=10% 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" lang=EN-US style="font-size:6.0pt;">Rest of Eurasia</font></b></font></p>
  </td>
 <td width=10% 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" lang=EN-US style="font-size:6.0pt;">Corporate Center</font></b></font></p>
  </td>
 <td width=10% 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" lang=EN-US style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=7 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" lang=EN-US style="font-size:9.0pt;">(In Millions of
  Euros)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">2019</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" lang=EN-US 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" lang=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US style="font-size:8.0pt;">&nbsp;</font></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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Net interest income</font></font></p>
  </td>
 <td valign=bottom width=8% 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3,645</font></font></p>
  </td>
 <td 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2,395</font></font></p>
  </td>
 <td valign=bottom width=10% 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">6,209</font></font></p>
  </td>
 <td valign=bottom width=9% 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2,814</font></font></p>
  </td>
 <td valign=bottom width=9% 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3,196</font></font></p>
  </td>
 <td valign=bottom width=10% 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">175</font></font></p>
  </td>
 <td valign=bottom width=10% 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(233)</font></font></p>
  </td>
 <td valign=bottom width=10% 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">18,202</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=23% 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" lang=EN-US style="font-size:9.0pt;">Gross income</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">5,734</font></font></p>
  </td>
 <td valign=bottom width=11% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3,223</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">8,029</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3,590</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3,850</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">454</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(339)</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">24,542</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td valign=bottom width=23% 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" lang=EN-US style="font-size:9.0pt;">Net margin before provisions(1)</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;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=EN-US style="font-size:9.0pt;">2,480</font></font></p>
  </td>
 <td valign=bottom width=11% style="background:white;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=EN-US style="font-size:9.0pt;">1,257</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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=EN-US style="font-size:9.0pt;">5,384</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;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=EN-US style="font-size:9.0pt;">2,375</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;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=EN-US style="font-size:9.0pt;">2,276</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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=EN-US style="font-size:9.0pt;">161</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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=EN-US style="font-size:9.0pt;">(1,294)</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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=EN-US style="font-size:9.0pt;">12,639</font></font></p>
  </td>
 </tr>
<tr style="height:29.45pt;">
  <td valign=bottom width=23% 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" lang=EN-US style="font-size:9.0pt;">Operating profit/(loss) before tax</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">1,878</font></font></p>
  </td>
 <td valign=bottom width=11% style="background:white;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" lang=EN-US style="font-size:9.0pt;">705</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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" lang=EN-US style="font-size:9.0pt;">3,691</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;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" lang=EN-US style="font-size:9.0pt;">1,341</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;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" lang=EN-US style="font-size:9.0pt;">1,396</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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" lang=EN-US style="font-size:9.0pt;">163</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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" lang=EN-US style="font-size:9.0pt;">(2,775)</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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" lang=EN-US style="font-size:9.0pt;">6,398</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td valign=bottom width=23% 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" lang=EN-US style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">1,386</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% 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" lang=EN-US style="font-size:9.0pt;">590</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">2,699</font></b></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">506</font></b></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">721</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">127</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">(2,517)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">3,512</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=23% 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">2018 </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% 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=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:7.0pt;">&nbsp;</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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Net interest income</font></font></p>
  </td>
 <td valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">3,698</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">2,276</font></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">5,568</font></font></p>
  </td>
 <td valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">3,135</font></font></p>
  </td>
 <td valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">3,009</font></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">175</font></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">(269)</font></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">17,591</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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Gross income</font></font></p>
  </td>
 <td valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">5,968</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">2,989</font></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">7,193</font></font></p>
  </td>
 <td valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">3,901</font></font></p>
  </td>
 <td valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">3,701</font></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">414</font></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">(420)</font></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">23,747</font></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td valign=bottom width=23% 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" lang=EN-US style="font-size:9.0pt;">Net margin before provisions(1)</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;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=EN-US style="font-size:9.0pt;">2,634</font></font></p>
  </td>
 <td valign=bottom width=11% style="background:white;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=EN-US style="font-size:9.0pt;">1,129</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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=EN-US style="font-size:9.0pt;">4,800</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;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=EN-US style="font-size:9.0pt;">2,654</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;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=EN-US style="font-size:9.0pt;">1,992</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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=EN-US style="font-size:9.0pt;">127</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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=EN-US style="font-size:9.0pt;">(1,291)</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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=EN-US style="font-size:9.0pt;">12,045</font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=bottom width=23% 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" lang=EN-US style="font-size:9.0pt;">Operating profit/(loss) before tax (2)</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;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=EN-US style="font-size:9.0pt;">1,840</font></font></p>
  </td>
 <td valign=bottom width=11% style="background:white;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=EN-US style="font-size:9.0pt;">920</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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=EN-US style="font-size:9.0pt;">3,269</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;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=EN-US style="font-size:9.0pt;">1,444</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;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=EN-US style="font-size:9.0pt;">1,288</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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=EN-US style="font-size:9.0pt;">148</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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=EN-US style="font-size:9.0pt;">(1,329)</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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=EN-US style="font-size:9.0pt;">7,580</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td valign=bottom width=23% 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" lang=EN-US style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">1,400</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% 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" lang=EN-US style="font-size:9.0pt;">736</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">2,367</font></b></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">567</font></b></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">578</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">96</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">(343)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">5,400</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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">2017 </font></b></font></p>
  </td>
 <td valign=bottom width=8% 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" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US 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 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" lang=EN-US style="font-size:9.0pt;">Net interest income</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3,810</font></font></p>
  </td>
 <td valign=bottom width=11% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2,119</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">5,476</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3,331</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3,200</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">180</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(357)</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">17,758</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=23% 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" lang=EN-US style="font-size:9.0pt;">Gross income</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">6,162</font></font></p>
  </td>
 <td valign=bottom width=11% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2,876</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">7,122</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">4,115</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">4,451</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">468</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">74</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">25,270</font></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td valign=bottom width=23% 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" lang=EN-US style="font-size:9.0pt;">Net margin before provisions(1)</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;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=EN-US style="font-size:9.0pt;">2,665</font></font></p>
  </td>
 <td valign=bottom width=11% style="background:white;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=EN-US style="font-size:9.0pt;">1,026</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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=EN-US style="font-size:9.0pt;">4,646</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;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=EN-US style="font-size:9.0pt;">2,608</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;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=EN-US style="font-size:9.0pt;">2,424</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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=EN-US style="font-size:9.0pt;">164</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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=EN-US style="font-size:9.0pt;">(764)</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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=EN-US style="font-size:9.0pt;">12,770</font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=bottom width=23% 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" lang=EN-US style="font-size:9.0pt;">Operating profit/(loss) before tax</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;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=EN-US style="font-size:9.0pt;">1,189</font></font></p>
  </td>
 <td valign=bottom width=11% style="background:white;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=EN-US style="font-size:9.0pt;">749</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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=EN-US style="font-size:9.0pt;">2,960</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;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=EN-US style="font-size:9.0pt;">2,143</font></font></p>
  </td>
 <td valign=bottom width=9% style="background:white;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=EN-US style="font-size:9.0pt;">1,671</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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=EN-US style="font-size:9.0pt;">181</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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=EN-US style="font-size:9.0pt;">(1,962)</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">6,931</font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=bottom width=23% 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" lang=EN-US style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">877</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% 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" lang=EN-US style="font-size:9.0pt;">486</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2,170</font></b></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">823</font></b></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">847</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">128</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,817)</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3,514</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:35.85pt;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:8.0pt;">(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:8.0pt;">&#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:35.85pt;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:8.0pt;">(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:8.0pt;">The information relating to our
Corporate Center has been presented under management criteria pursuant to which
&#8220;Operating profit/ (loss) before tax&#8221; for 2018 excludes the capital gain from
the sale of our stake in BBVA Chile. For additional information on this
adjustment, see </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&#8220;Item 5. Operating and Financial Review and Prospects</font></i><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&#8212;Operating Results&#8212;Results of Operations by Operating
Segment&#8221;.
</font></i></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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">37</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_43"></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;"><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 our operating segments and the Group Corporate Center and adjustments as of December
31, 2019 and 2018 and information relating to the balance sheet of our
operating segments as of December 31, 2017:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_4B1D.1" style="border-collapse:collapse;width:100%;">
 <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=navy style="border:none;"><font color=navy face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=8 nowrap valign=bottom width=71% style="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" lang=EN-US style="font-size:9.0pt;">As of December 31,
  2019</font></b></font></p>
  </td>
 </tr>
<tr style="height:43.5pt;">
  <td valign=bottom width=29% style="height:43.5pt;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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:43.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border: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-US style="font-size:8.0pt;">Spain</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:43.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border: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-US style="font-size:8.0pt;">The United States</font></b></font></p>
  </td>
 <td valign=bottom width=8% style="border:none;border-bottom:solid black 1.0pt;height:43.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border: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-US style="font-size:8.0pt;">Mexico</font></b></font></p>
  </td>
 <td valign=bottom width=8% style="border:none;border-bottom:solid black 1.0pt;height:43.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border: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-US style="font-size:8.0pt;">Turkey </font></b></font></p>
  </td>
 <td valign=bottom width=8% style="border:none;border-bottom:solid black 1.0pt;height:43.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border: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-US style="font-size:8.0pt;">South America</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:43.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border: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-US style="font-size:8.0pt;">Rest of Eurasia</font></b></font></p>
  </td>
 <td valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:43.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border: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-US style="font-size:8.0pt;">Total Operating
  Segments</font></b></font></p>
  </td>
 <td valign=bottom width=11% style="border:none;border-bottom:solid black 1.0pt;height:43.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border: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-US style="font-size:8.0pt;">Corporate Center
  and Adjustments (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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=8 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" lang=EN-US style="font-size:9.0pt;">(In Millions of
  Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:19.35pt;">
  <td nowrap valign=bottom width=29% 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" lang=EN-US style="font-size:9.0pt;">Total Assets</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">365,374</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">88,529</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">109,079</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">64,416</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">54,996</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">23,248</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">705,641</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;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" lang=EN-US style="font-size:9.0pt;">(6,951)</font></b></font></p>
  </td>
 </tr>
<tr style="height:26.45pt;">
  <td valign=bottom width=29% 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" lang=EN-US style="font-size:9.0pt;">Cash, cash balances at central banks and other
  demand deposits</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">15,903</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">8,293</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">6,489</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">5,486</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">8,601</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">247</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">45,019</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;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" lang=EN-US style="font-size:9.0pt;">(716)</font></font></p>
  </td>
 </tr>
<tr style="height:18.6pt;">
  <td valign=bottom width=29% 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Financial assets designated at fair value (2)</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">122,844</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">7,659</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">31,402</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">5,268</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">6,120</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">477</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">173,770</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;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" lang=EN-US style="font-size:9.0pt;">(3,128)</font></font></p>
  </td>
 </tr>
<tr style="height:17.45pt;">
  <td nowrap valign=bottom width=29% 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" lang=EN-US style="font-size:9.0pt;">Financial assets at amortized cost</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">195,269</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">69,510</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">66,180</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">51,285</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">37,869</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">22,224</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">442,336</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;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" lang=EN-US style="font-size:9.0pt;">(3,174)</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td valign=bottom width=29% 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" lang=EN-US style="font-size:9.0pt;">Loans and advances to customers</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">167,341</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">63,162</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">58,081</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">40,500</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">35,701</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">19,660</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">384,445</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;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" lang=EN-US style="font-size:9.0pt;">(2,085)</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td valign=bottom width=29% 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" lang=EN-US style="font-size:9.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="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=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:20.1pt;">
  <td valign=bottom width=29% 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" lang=EN-US style="font-size:9.0pt;">Residential mortgages</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">73,871</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">14,160</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">10,786</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">2,928</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">7,168</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">1,624</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">110,536</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:20.1pt;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=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.35pt;">
  <td valign=bottom width=29% 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" lang=EN-US style="font-size:9.0pt;">Consumer finance</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">11,390</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">5,201</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">8,683</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">5,603</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">7,573</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">453</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">38,904</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:16.35pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Loans</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">5,586</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1,263</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" lang=EN-US style="font-size:9.0pt;">1,802</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" lang=EN-US style="font-size:9.0pt;">635</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" lang=EN-US style="font-size:9.0pt;">1,024</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">195</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">10,505</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.35pt;">
  <td valign=bottom width=29% 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" lang=EN-US style="font-size:9.0pt;">Credit cards</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">2,213</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">883</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">5,748</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">3,837</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">2,239</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">8</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">14,928</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:16.35pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:17.45pt;">
  <td valign=bottom width=29% 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" lang=EN-US style="font-size:9.0pt;">Loans to enterprises</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">57,203</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">36,361</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">24,780</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">26,552</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">16,226</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">16,706</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">177,828</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:17.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:19.35pt;">
  <td valign=bottom width=29% 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" lang=EN-US style="font-size:9.0pt;">Loans to public sector</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">13,886</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">5,374</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">6,819</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">107</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">1,368</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">667</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">28,221</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:19.35pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:18.6pt;">
  <td nowrap valign=bottom width=29% 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" lang=EN-US style="font-size:9.0pt;">Total Liabilities</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">356,069</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">84,127</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">101,545</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">61,678</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">52,287</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">22,299</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">678,005</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;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" lang=EN-US style="font-size:9.0pt;">(34,240)</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td valign=bottom width=29% 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" lang=EN-US 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=9% 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=EN-US style="font-size:9.0pt;">78,684</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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=EN-US style="font-size:9.0pt;">282</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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=EN-US style="font-size:9.0pt;">21,784</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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=EN-US style="font-size:9.0pt;">2,184</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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=EN-US style="font-size:9.0pt;">1,860</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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=EN-US style="font-size:9.0pt;">57</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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=EN-US style="font-size:9.0pt;">104,851</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;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=EN-US style="font-size:9.0pt;">(5,208)</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=29% 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" lang=EN-US style="font-size:9.0pt;">Financial liabilities at amortized cost -
  Customer deposits</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">182,370</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">67,525</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">55,934</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">41,335</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">36,104</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">4,708</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">387,976</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;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" lang=EN-US style="font-size:9.0pt;">(3,757)</font></font></p>
  </td>
 </tr>
<tr style="height:19.35pt;">
  <td valign=bottom width=29% 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" lang=EN-US style="font-size:9.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:19.35pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:19.35pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;height:19.35pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:18.6pt;">
  <td valign=bottom width=29% 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" lang=EN-US style="font-size:9.0pt;">Demand and savings deposits</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">150,917</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">46,338</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">43,015</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">15,737</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">22,615</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">3,292</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">281,914</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;height:18.6pt;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=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td valign=bottom width=29% 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" lang=EN-US style="font-size:9.0pt;">Time deposits</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">31,453</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">14,527</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">12,395</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">25,587</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">13,439</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1,416</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">98,817</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;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=EN-US style="font-size:9.0pt;">&nbsp;</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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Total Equity</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">9,305</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">4,402</font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">7,533</font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2,738</font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2,709</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">949</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">27,636</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">27,289</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td nowrap valign=bottom width=29% 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" lang=EN-US style="font-size:9.0pt;">Assets under management</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">66,068</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">24,464</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3,906</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">12,864</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">500</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">107,803</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;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=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Mutual funds</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">41,390</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US style="font-size:9.0pt;">21,929</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" lang=EN-US style="font-size:9.0pt;">1,460</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" lang=EN-US style="font-size:9.0pt;">3,860</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">68,639</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Pension funds</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">24,678</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US style="font-size:9.0pt;">2,446</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" lang=EN-US style="font-size:9.0pt;">9,005</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">500</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">36,630</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.35pt;">
  <td valign=bottom width=29% 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" lang=EN-US style="font-size:9.0pt;">Other placements</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">2,534</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">2,534</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;height:16.35pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-17.6pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1)&#160; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Includes</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;"> </font><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">balance&nbsp;</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;"> sheet intra-group
adjustments between the Corporate Center and the operating segments. See &#8220;</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Presentation
of Financial Information&#8212;Changes in Operating Segments</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&#8221;.&nbsp;</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:-17.6pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(2)&#160; Financial</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;"> 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>


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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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">38</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_44"></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 title="F_20F_SMSR_4B1D.2" 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=8 nowrap 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" lang=EN-US style="font-size:9.0pt;">As of December 31,
  2018 </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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=9% 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" lang=EN-US style="font-size:8.0pt;">Spain</font></b></font></p>
  </td>
 <td valign=bottom width=9% 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" lang=EN-US style="font-size:8.0pt;">The United States</font></b></font></p>
  </td>
 <td valign=bottom width=8% 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" lang=EN-US style="font-size:8.0pt;">Mexico</font></b></font></p>
  </td>
 <td valign=bottom width=8% 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" lang=EN-US style="font-size:8.0pt;">Turkey </font></b></font></p>
  </td>
 <td valign=bottom width=8% 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" lang=EN-US style="font-size:8.0pt;">South America</font></b></font></p>
  </td>
 <td valign=bottom width=9% 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" lang=EN-US style="font-size:8.0pt;">Rest of Eurasia</font></b></font></p>
  </td>
 <td valign=bottom 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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Total Operating
  Segments</font></b></font></p>
  </td>
 <td valign=bottom 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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Corporate Center
  and Adjustments (1)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=28% 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" lang=EN-US style="font-size:9.0pt;">&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" lang=EN-US style="font-size:9.0pt;">(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" lang=EN-US style="font-size:9.0pt;">Total Assets</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">354,901</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">82,057</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">97,432</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">66,250</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">54,373</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">18,834</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">673,848</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2,841</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" lang=EN-US style="font-size:9.0pt;">Cash, cash balances at central banks and other
  demand deposits</font></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">28,545</font></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">4,835</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" lang=EN-US style="font-size:9.0pt;">8,274</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" lang=EN-US style="font-size:9.0pt;">7,853</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" lang=EN-US style="font-size:9.0pt;">8,987</font></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">238</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">58,732</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;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=EN-US style="font-size:9.0pt;">(536)</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" lang=EN-US style="font-size:9.0pt;">Financial assets designated at fair value (2)</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">107,320</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">10,481</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" lang=EN-US style="font-size:9.0pt;">26,022</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" lang=EN-US style="font-size:9.0pt;">5,506</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" lang=EN-US style="font-size:9.0pt;">5,634</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">504</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">155,467</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(2,564)</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" lang=EN-US style="font-size:9.0pt;">Financial assets at amortized cost</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">195,467</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">63,539</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" lang=EN-US style="font-size:9.0pt;">57,709</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" lang=EN-US style="font-size:9.0pt;">50,315</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" lang=EN-US style="font-size:9.0pt;">36,649</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">17,799</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">421,477</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(1,818)</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" lang=EN-US style="font-size:9.0pt;">Loans and advances to customers</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">170,438</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">60,808</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">51,101</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">41,478</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">34,469</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">16,598</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">374,893</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;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" lang=EN-US style="font-size:9.0pt;">(867)</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" lang=EN-US style="font-size:9.0pt;">Of which:</font></i></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" lang=EN-US style="font-size:9.0pt;">&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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&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" lang=EN-US style="font-size:9.0pt;">&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" lang=EN-US style="font-size:9.0pt;">&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" lang=EN-US style="font-size:9.0pt;">&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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></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" lang=EN-US style="font-size:9.0pt;">Residential mortgages</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">76,390</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">13,961</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">9,197</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3,530</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">6,629</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1,821</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">111,529</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;height:14.1pt;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=EN-US style="font-size:9.0pt;">&nbsp;</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" lang=EN-US style="font-size:9.0pt;">Consumer finance</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">9,665</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">5,353</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">7,347</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">5,265</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">6,900</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">410</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">34,940</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;height:17.1pt;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=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td valign=bottom width=28% style="height:21.0pt;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" lang=EN-US style="font-size:9.0pt;">Loans</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">5,562</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1,086</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1,766</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">570</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">955</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">212</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">10,151</font></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 face=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</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" lang=EN-US style="font-size:9.0pt;">Credit cards</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2,083</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">720</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" lang=EN-US style="font-size:9.0pt;">4,798</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" lang=EN-US style="font-size:9.0pt;">3,880</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" lang=EN-US style="font-size:9.0pt;">2,058</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">10</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">13,549</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 lang=EN-US style="font-size:11.0pt;">&nbsp;</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" lang=EN-US style="font-size:9.0pt;">Loans to enterprises</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">57,317</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">34,264</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">22,553</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">27,657</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">16,897</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">13,685</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">172,373</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;height:17.1pt;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=EN-US style="font-size:9.0pt;">&nbsp;</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" lang=EN-US style="font-size:9.0pt;">Loans to public sector</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">15,379</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">5,400</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">5,726</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">95</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1,078</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">414</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">28,093</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</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" lang=EN-US style="font-size:9.0pt;">Total Liabilities</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:21.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">345,592</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:21.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">77,976</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:21.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">90,961</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:21.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">63,657</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:21.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">52,683</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:21.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">18,052</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:21.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">648,921</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;height:21.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">(25,106)</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" lang=EN-US 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=9% 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=EN-US style="font-size:9.0pt;">71,033</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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=EN-US style="font-size:9.0pt;">234</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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=EN-US style="font-size:9.0pt;">18,028</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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=EN-US style="font-size:9.0pt;">1,852</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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=EN-US style="font-size:9.0pt;">1,357</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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=EN-US style="font-size:9.0pt;">42</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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=EN-US style="font-size:9.0pt;">92,545</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;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=EN-US style="font-size:9.0pt;">(4,778)</font></font></p>
  </td>
 </tr>
<tr style="height:26.45pt;">
  <td valign=bottom width=28% 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" lang=EN-US style="font-size:9.0pt;">Financial liabilities at amortized cost -
  Customer deposits</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">183,414</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">63,891</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">50,530</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">39,905</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">35,842</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">4,876</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">378,456</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;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" lang=EN-US style="font-size:9.0pt;">(2,486)</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" lang=EN-US style="font-size:9.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:17.1pt;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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:17.1pt;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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:17.1pt;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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:17.1pt;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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:17.1pt;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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:17.1pt;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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:17.1pt;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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;height:17.1pt;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=EN-US style="font-size:9.0pt;">&nbsp;</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" lang=EN-US style="font-size:9.0pt;">Demand and savings deposits</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">142,912</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">41,213</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">38,167</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">12,530</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">22,959</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3,544</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">261,324</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;height:17.1pt;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=EN-US style="font-size:9.0pt;">&nbsp;</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" lang=EN-US style="font-size:9.0pt;">Time deposits</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">40,072</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">16,856</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">11,593</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">27,367</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">12,829</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1,333</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:17.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">110,051</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;height:17.1pt;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=EN-US style="font-size:9.0pt;">&nbsp;</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" lang=EN-US style="font-size:9.0pt;">Total Equity</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:23.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">9,309</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:23.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">4,082</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:23.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">6,471</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:23.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">2,593</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:23.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">1,690</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:23.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">782</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:23.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">24,927</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:23.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">27,947</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" lang=EN-US style="font-size:9.0pt;">Assets under management</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">62,559</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">20,647</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">2,894</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">11,662</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">388</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">98,150</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:18.6pt;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-US style="font-size:9.0pt;">&nbsp;</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" lang=EN-US style="font-size:9.0pt;">Mutual funds</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">39,250</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">17,733</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">669</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3,741</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">61,393</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</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" lang=EN-US style="font-size:9.0pt;">Pension funds</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">23,274</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2,225</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">7,921</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">388</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">33,807</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</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" lang=EN-US style="font-size:9.0pt;">Other placements</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">35</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">2,914</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">2,949</font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="background:white;height:14.45pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-17.6pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1)&#160; Includes</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;"> balance sheet intra-group adjustments between the
Corporate Center and the operating segments. See &#8220;</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Presentation of Financial
Information&#8212;Changes in Operating Segments</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&#8221;.&nbsp;</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:-17.6pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(2)&#160; Financial</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;"> 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>


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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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">39</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_45"></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 title="F_20F_SMSR_4B1D.3" style="border-collapse:collapse;width:100%;">
 <tr style="height:15.75pt;">
  <td valign=bottom width=32% style="height:15.75pt;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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=7 nowrap valign=bottom width=68% 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" lang=EN-US style="font-size:9.0pt;">As of December 31,
  2017 </font></b></font></p>
  </td>
 </tr>
<tr style="height:36.0pt;">
  <td valign=bottom width=32% style="height:36.0pt;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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=11% 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" lang=EN-US style="font-size:8.0pt;">Spain</font></b></font></p>
  </td>
 <td valign=bottom 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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">The United States</font></b></font></p>
  </td>
 <td valign=bottom 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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Mexico</font></b></font></p>
  </td>
 <td valign=bottom 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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Turkey </font></b></font></p>
  </td>
 <td valign=bottom 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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">South America</font></b></font></p>
  </td>
 <td valign=bottom 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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Rest of Eurasia</font></b></font></p>
  </td>
 <td valign=bottom 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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Total Operating
  Segments</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=32% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=7 nowrap valign=bottom width=68% 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" lang=EN-US style="font-size:9.0pt;">(In Millions of
  Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=32% 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" lang=EN-US style="font-size:9.0pt;">Total Assets</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" lang=EN-US style="font-size:9.0pt;">350,520</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">75,775</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">90,214</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">78,789</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">75,320</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">17,265</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">687,884</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=32% 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" lang=EN-US 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:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">13,636</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">7,138</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">8,833</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">4,036</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">9,039</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">877</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">43,561</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=32% 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" lang=EN-US style="font-size:9.0pt;">Financial assets designated at fair value (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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">86,912</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">11,068</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">28,458</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">6,419</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">11,627</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">991</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">145,474</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=32% 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" lang=EN-US style="font-size:9.0pt;">Financial assets at amortized cost</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">230,228</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">54,705</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">47,691</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">65,083</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">51,207</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">15,533</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">464,447</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=32% 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" lang=EN-US style="font-size:9.0pt;">Loans and advances to customers</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">187,884</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">53,718</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">45,768</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">51,378</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">48,272</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">15,388</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">402,408</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=32% 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=32% 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" lang=EN-US style="font-size:9.0pt;">Residential mortgages</font></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">77,449</font></font></p>
  </td>
 <td nowrap width=10% 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" lang=EN-US style="font-size:9.0pt;">13,298</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">8,081</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">5,147</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">11,681</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">2,112</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">117,768</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=32% 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" lang=EN-US style="font-size:9.0pt;">Consumer finance</font></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">9,642</font></font></p>
  </td>
 <td nowrap width=10% 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" lang=EN-US style="font-size:9.0pt;">4,432</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">10,820</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">11,185</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">10,474</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">297</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">46,850</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=32% 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" lang=EN-US style="font-size:9.0pt;">Loans</font></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">7,752</font></font></p>
  </td>
 <td nowrap width=10% 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" lang=EN-US style="font-size:9.0pt;">3,894</font></font></p>
  </td>
 <td nowrap width=9% 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" lang=EN-US style="font-size:9.0pt;">6,422</font></font></p>
  </td>
 <td nowrap width=9% 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" lang=EN-US style="font-size:9.0pt;">6,760</font></font></p>
  </td>
 <td nowrap width=10% 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" lang=EN-US style="font-size:9.0pt;">7,760</font></font></p>
  </td>
 <td nowrap width=9% 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" lang=EN-US style="font-size:9.0pt;">282</font></font></p>
  </td>
 <td nowrap width=10% 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" lang=EN-US style="font-size:9.0pt;">32,871</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=32% 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" lang=EN-US style="font-size:9.0pt;">Credit cards</font></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">1,890</font></font></p>
  </td>
 <td nowrap width=10% 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" lang=EN-US style="font-size:9.0pt;">538</font></font></p>
  </td>
 <td nowrap width=9% 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" lang=EN-US style="font-size:9.0pt;">4,397</font></font></p>
  </td>
 <td nowrap width=9% 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" lang=EN-US style="font-size:9.0pt;">4,425</font></font></p>
  </td>
 <td nowrap width=10% 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" lang=EN-US style="font-size:9.0pt;">2,715</font></font></p>
  </td>
 <td nowrap width=9% 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" lang=EN-US style="font-size:9.0pt;">15</font></font></p>
  </td>
 <td nowrap width=10% 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" lang=EN-US style="font-size:9.0pt;">13,979</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=32% 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" lang=EN-US style="font-size:9.0pt;">Loans to enterprises</font></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">50,878</font></font></p>
  </td>
 <td nowrap width=10% 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" lang=EN-US style="font-size:9.0pt;">30,261</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">20,977</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">34,371</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">23,567</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">11,801</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">171,855</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=32% 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" lang=EN-US style="font-size:9.0pt;">Loans to public sector</font></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">18,562</font></font></p>
  </td>
 <td nowrap width=10% 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" lang=EN-US style="font-size:9.0pt;">4,999</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">5,262</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">148</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">1,114</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">511</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">30,596</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=32% 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" lang=EN-US style="font-size:9.0pt;">Total Liabilities</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" lang=EN-US style="font-size:9.0pt;">338,612</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">72,653</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">86,700</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">70,348</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">70,569</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">16,330</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">655,211</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=32% 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" lang=EN-US 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: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" lang=EN-US style="font-size:9.0pt;">43,793</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">139</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">9,405</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">648</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">2,823</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">45</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">56,852</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=32% 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" lang=EN-US style="font-size:9.0pt;">Financial liabilities at amortized cost -
  Customer deposits</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" lang=EN-US style="font-size:9.0pt;">180,840</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">60,806</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">49,964</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">44,691</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">45,705</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">6,700</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">388,707</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=32% 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=32% 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" lang=EN-US style="font-size:9.0pt;">Demand and savings deposits</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">126,801</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">44,039</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">34,855</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">14,240</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">25,871</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">4,279</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">250,084</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=32% 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" lang=EN-US style="font-size:9.0pt;">Time deposits</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">48,014</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">16,762</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">10,237</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">30,300</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">20,099</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">2,416</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">127,828</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=32% 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">11,909</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3,123</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">3,515</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">8,441</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">4,751</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">935</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">32,673</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=32% 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" lang=EN-US style="font-size:9.0pt;">Assets under management</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">62,018</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">19,472</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3,902</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">12,197</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">376</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">97,965</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=32% 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" lang=EN-US style="font-size:9.0pt;">Mutual funds</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">37,996</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">16,430</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">1,265</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">5,248</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">60,939</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=32% 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" lang=EN-US style="font-size:9.0pt;">Pension funds</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">24,023</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">2,637</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">6,949</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">376</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">33,985</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=32% 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" lang=EN-US style="font-size:9.0pt;">Other placements</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">3,041</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">3,041</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:11.0pt;margin-left:35.45pt;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:8.0pt;">(1)&#160; Financial</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;"> 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>


<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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">40</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_46"></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: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" lang=EN-US style="font-size:10.0pt;">Spain</font></b></font></p>

<p style="border:none;margin-bottom:11.0pt;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 operating segment includes all of BBVA&#8217;s banking and non-banking
businesses in Spain, other than those included in the Corporate Center. The
primary business units included in this 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;">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:35.7pt;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;">Corporate and Business
Banking</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:35.7pt;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;">Corporate and
Investment Banking</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:35.7pt;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;">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), the Asset Management unit (which manages Spanish mutual
funds and pension funds), lending to real estate developers and foreclosed real
estate assets in Spain (including assets from the previous Non-Core Real Estate
operating segment), 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>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;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;">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;)
amounted to &#8364;122,844 million as of December 31, 2019, a 14.5% increase from the
&#8364;107,320 million recorded as of December 31, 2018, mainly as a result of the
increase in the volume of reverse repurchase agreements with credit
institutions recorded under &#8220;Financial assets held for trading&#8221; and, to a
lesser extent, the increase in derivatives recorded under &#8220;Financial assets
held for trading&#8221;.</font></font></p>

<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: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, 2019 amounted to &#8364;195,269 million, a 0.1%
decrease compared with the &#8364;195,467 million recorded as of December 31, 2018.
Within this heading, loans and advances to customers amounted to &#8364;167,341
million as of December 31, 2019, a decrease of 1.8% from the &#8364;170,438 million
recorded as of December 31, 2018, mainly as a result of the decrease in
residential mortgage loans and, to a lesser extent, the decrease in loans to
the public sector, partially offset by an increase in consumer loans.</font></font></p>

<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:18.0pt;"><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, 2019 amounted to &#8364;78,684 million, a 10.8% increase compared with
the &#8364;71,033 million recorded as of December 31, 2018, mainly as a result of the
increase in repurchase agreements with credit institutions.</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, 2019 amounted to &#8364;182,370 million, a 0.6%
decrease compared with the &#8364;183,414 million recorded as of December 31, 2018
mainly as a result of the decrease in time deposits due to the decreases in
interest rates</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:11.0pt;">.</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, 2019 amounted to &#8364;41,390 million, a 5.5% increase from the &#8364;39,250
million recorded as of December 31, 2018, mainly due to new contributions by our
customers.</font></font></p>

<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:18.0pt;"><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, 2019 amounted to &#8364;24,678 million, a 6.0% increase compared with
the &#8364;23,274 million recorded as of December 31, 2018, mainly due to new
contributions by our customers.</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 4.4% as of December 31, 2019 from 5.1%
as of December 31, 2018, mainly due to a 14.3% decrease in the balance of
non-performing loans in the period (&#8364;8,635 million as of December 31, 2019 and &#8364;10,073
million as of December 31, 2018). This change was mainly explained by the sale
of non-performing mortgage loans and write-offs in 2019. This operating
segment&#8217;s non-performing loan coverage ratio increased to 60% as of December 31,
2019 from 57% as of December 31, 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>


</DIV>
<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 includes the Group&#8217;s
business in the United States. BBVA USA accounted for 89.7% of this operating
segment&#8217;s balance sheet as of December 31, 2019. Given the importance of BBVA USA
in this segment, most of the comments below refer to BBVA USA. 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 1.9% against the
euro as of December 31, 2019 compared with December 31, 2018, positively
affecting the business activity of the United States operating segment as of
December 31, 2019 expressed in euros. See </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 5. Operating
Results&#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: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, 2019 amounted to &#8364;7,659 million, a 26.9% decrease
from the &#8364;10,481 million recorded as of December 31, 2018, mainly due to a
decrease in the volume of U.S. Treasury and other U.S. government securities
and in mortgage-backed securities due to the lower interest rates offered by
such securities.</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, 2019 amounted to &#8364;69,510 million, a 9.4%
increase compared with the &#8364;63,539 million recorded as of December 31, 2018.
Within this heading, loans and advances to customers of this operating segment
as of December 31, 2019 amounted to &#8364;63,162 million, a 3.9% increase compared
with the &#8364;60,808 million recorded as of December 31, 2018, mainly due to an
increase in loans to non-financial entities.</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, 2019 amounted to &#8364;67,525 million, a 5.7%
increase compared with the &#8364;63,891 million recorded as of December 31, 2018,
mainly due to an increase in demand deposits, partially offset by a decrease in
time deposits due to the lower interest rates offered to customers.</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, 2019 decreased to 1.1% from 1.3% as of December 31,
2018, mainly due to the decrease in the non-performing loan portfolio. This
operating segment&#8217;s non-performing loan coverage ratio increased to 101% as of
December 31, 2019, from 85% as of December 31, 2018, as a result of higher loss
allowances and the decrease in non-performing loans, in particular, in the commercial,
financial and agricultural portfolios.</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 includes the
banking and insurance businesses conducted in Mexico by BBVA Mexico. Since
2018, it also includes BBVA Mexico&#8217;s branch in Houston (which was previously part
of our United States segment).</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 financial information for 2017 relating to
such segments included in the Consolidated Financial Statements and in this
Annual Report has been revised in order to improve its comparability with
financial information for subsequent periods.</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 6.0% against the
euro as of December 31, 2019 compared with December 31, 2018, positively
affecting the business activity of the Mexico operating segment as of December
31, 2019 expressed in euros. See </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 5. Operating Results&#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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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;">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, 2019
amounted to &#8364;31,402 million, a 20.7% increase from the &#8364;26,022 million recorded
as of December 31, 2018, mainly as a result of the increase in the volume of
reverse repurchase agreements with financial institutions within the trading
portfolio, the increase in debt securities recorded under &#8220;Financial assets
held for trading&#8221;, the transfer of certain loans from the amortized cost
portfolio and 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;">Financial assets at amortized cost of this operating
segment as of December 31, 2019 amounted to &#8364;66,180 million, a 14.7% increase
compared with the &#8364;57,709 million recorded as of December 31, 2018. Within this
heading, loans and advances to customers of this operating segment as of
December 31, 2019 amounted to &#8364;58,081 million, a 13.7% increase compared with
the &#8364;51,101 million recorded as of December 31, 2018, mainly due to the
increase in the volume of wholesale loans and loans to non-financial entities
and households and the appreciation of the Mexican peso against the euro,
partially offset by the transfer of certain loans to the 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;">Financial liabilities held for trading and
designated at fair value through profit or loss of this operating segment as of
December 31, 2019 amounted to &#8364;21,784 million, a 20.8% increase compared with
the &#8364;18,028 million recorded as of December 31, 2018, mainly as a result of the
increase in the volume of repurchase agreements and, to a lesser extent, 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;">Customer deposits at amortized cost of this
operating segment as of December 31, 2019 amounted to &#8364;55,934 million, a 10.7%
increase compared with the &#8364;50,530 million recorded as of December 31, 2018,
primarily due to the increase in demand deposits for households and, to a
lesser extent, the increase in wholesale deposits, being the latter positively
affected by 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, 2019 amounted to &#8364;21,929 million, a 23.7% increase compared with
the &#8364;17,733 million recorded as of December 31, 2018, primarily due to the
promotion of a wide range of investment products and 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 increased to 2.4% as of December 31, 2019 from 2.1% as of December 31,
2018, mainly due to the operation of the contagion rules for retail exposures
(&#8216;pulling effect&#8217;), as well as to the change in the accounting criteria for the
recognition of non-performing loans (from three past-due installments to 90
days past-due). As a consequence, this operating segment&#8217;s non-performing loan
coverage ratio decreased to 136% as of December 31, 2019 from 154% as of
December 31, 2018.</font></font></p>

<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-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
comprises the activities carried out by Garanti BBVA as an integrated financial
services group operating in every segment of the banking sector, including
corporate, commercial, SME, payment systems, retail, private and investment
banking, together with its subsidiaries in pension and life insurance, leasing,
factoring, brokerage and asset management, as well as its international
subsidiaries in the Netherlands and Romania.</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 9.4% against the
euro as of December 31, 2019 compared to December 31, 2018, negatively
affecting the business activity of the Turkey operating segment as of December
31, 2019 expressed in euros. See </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 5. Operating Results&#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: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, 2019 amounted to &#8364;5,268 million, a
4.3% decrease from the &#8364;5,506 million recorded as of December 31, 2018, mainly
as a result of the depreciation of the Turkish lira. At constant exchange rates,
there was an increase in financial assets designated at fair value as a result
of the increase in&nbsp;debt securities denominated in euros with central governments.</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;">Financial assets at
amortized cost of this operating segment as of December 31, 2019 amounted to
&#8364;51,285 million a 1.9% increase compared with the &#8364;50,315 million recorded as
of December 31, 2018. Within this heading, loans and advances to customers of
this operating segment as of December 31, 2019 amounted to &#8364;40,500 million, a
2.4% decrease compared with the &#8364;41,478 million recorded as of December 31,
2018, mainly due to the depreciation of the Turkish lira, partially offset by
the increase in the volume of Turkish-lira denominated loans, in particular
commercial loans supported by the Credit Guarantee Fund, consumer loans and
credit cards.</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, 2019 amounted to &#8364;2,184 million, a 17.9% increase compared with
the &#8364;1,852 million recorded as of December 31, 2018, mainly as a result of the
increase in debt securities within the trading portfolio, which more than offset
the effect 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-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, 2019 amounted to &#8364;41,335 million, a 3.6%
increase compared with the &#8364;39,905 million recorded as of December 31, 2018,
mainly due to the increase in demand deposits in both Turkish lira and foreign
currencies, partially offset by 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-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, 2019 amounted to &#8364;1,460 million compared with the &#8364;669 million
recorded as of December 31, 2018, mainly due to the growth in money market
related funds, which more than offset the effect 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-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, 2019 amounted to &#8364;2,446 million, a 10.0% increase compared with
the &#8364;2,225 million recorded as of December 31, 2018, mainly due to the
favorable market dynamics, where the rapid decrease in interest rates has
forced returns from funds to be higher than those from deposits, partially
offset by the depreciation of the Turkish lira.</font></font></p>

<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: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, 2019 was 7.0% compared with 5.3% as of December 31,
2018 mainly as a result of an increase in non-performing loans. This operating
segment&#8217;s non-performing loan coverage ratio decreased to 75% as of December
31, 2019 from 81% as of December 31, 2018, mainly due to the increase in the
balance of non-performing loans as of December 31, 2019 compared to the balance
recorded as of December 31, 2018.</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;text-align:justify;"><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>

<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 main 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, 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:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2019, the Argentine peso depreciated 35.7%
against the euro compared to December 31, 2018, while the Colombian peso and
the Peruvian sol appreciated against the euro, </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">compared to December 31, 2018, by 1.7% and 3.8%,
respectively</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">. Overall, changes in
exchanges rates have negatively affected the business activity of the South
America operating segment as of December 31, 2019 expressed in euros. See </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item
5. Operating Results&#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: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 and for the
years ended December 31, 2019 and 2018, the Argentine and Venezuelan economies
were considered to be hyperinflationary as defined by IAS 29 (</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">see &#8220;</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Presentation
of Financial Information&#8212;Changes in Accounting Policies&#8212;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> </font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Hyperinflationary economies&#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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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;">Financial assets designated at fair value for
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, 2019 amounted to &#8364;6,120 million, a
8.6% increase compared with the &#8364;5,634 million recorded as of December 31,
2018, mainly due to the increase in debt securities issued by central banks and
the central governments in Argentina and Peru,</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;">partially
offset by the depreciation of the Argentine peso 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: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, 2019 amounted to &#8364;37,869 million, a 3.3% increase
compared with the &#8364;36,649 million recorded as of December 31, 2018. Within this
heading, loans and advances to customers of this operating segment as of
December 31, 2019 amounted to &#8364;35,701 million, a 3.6% increase compared with
the &#8364;34,469 million recorded as of December 31, 2018, mainly as a result of the
increase in consumer, mortgage and credit cards loans in Colombia and Peru, partially
offset by the depreciation of the Argentine peso.</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;">Customer deposits at
amortized cost of this operating segment as of December 31, 2019 amounted to
&#8364;36,104 million, a 0.7% decrease compared with the &#8364;35,842 million recorded as
of December 31, 2018, mainly as a result of the depreciation of the Argentine
peso.</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;">Mutual funds in this
operating segment as of December 31, 2019 amounted to &#8364;3,860 million, a 3.2%
increase compared with the &#8364;3,741 million recorded as of December 31, 2018,
mainly due to the favorable market dynamics, which positively affected the
performance of institutional banking and Corporate &amp; Investment Banking
(C&amp;IB), especially in Colombia and Peru, partially offset by the
depreciation of the Argentine peso 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;">Pension funds in this operating segment as of
December 31, 2019 amounted to &#8364;9,005 million, a 13.7% increase compared with
the &#8364;7,921 million recorded as of December 31, 2018, mainly as a result of an
increase in pension funds in Bolivia, where contributions to pension funds are
mandatory.</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, 2019 increased to 4.4% compared with 4.3% as of
December 31, 2018. This operating segment&#8217;s non-performing loan coverage ratio
increased to 100% as of December 31, 2019, from 97% as of December 31, 2018,
mainly due to a 9.3% increase in the balance of provisions in Peru and
Argentina as of December 31, 2019 compared to the balance recorded as of
December 31, 2018.</font></font></p>

<p 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" lang=EN-US style="font-size:10.0pt;">Rest of Eurasia</font></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;">This operating
segment includes the retail and wholesale banking businesses carried out by the
Group in Europe and Asia, except for those businesses comprised in our Spain
and Turkey operating segments. In particular, The Group&#8217;s activity in Europe is
carried out through banks and financial institutions in Switzerland, Italy,
Germany and Finland and branches in Germany, Belgium, France, Italy, Portugal
and the United Kingdom. The Group&#8217;s activity in Asia is carried out through
branches (in Taipei, Tokyo, Hong Kong, Singapore 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:0cm;text-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 (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, 2019 amounted to &#8364;477
million, a 5.2% decrease compared with the &#8364;504 million recorded as of December
31, 2018, mainly due to the decrease in debt securities within the fair value
through other comprehensive income portfolio in C&amp;IB Asia</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:11.0pt;">.</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: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, 2019 amounted to
&#8364;22,224 million, a 24.9% increase compared with the &#8364;17,799 million recorded as
of December 31, 2018. Within this heading, loans and advances to customers of
this operating segment as of December 31, 2019 amounted to &#8364;19,660 million, an
18.4% increase compared with the &#8364;16,598 million recorded as of December 31,
2018, mainly as a result of an increase in enterprise loans and the growth in
the corporate and investment banking business in Asia.</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;">Customer deposits at
amortized cost of this operating segment as of December 31, 2019 amounted to
&#8364;4,708 million, a 3.5% decrease compared with the &#8364;4,876 million recorded as of
December 31, 2018, mainly due to the negative interest rate environment in
Europe which has led certain investors to withdraw certain deposits.</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;">Pension funds in this operating segment as of December 31,
2019 amounted to &#8364;500 million, a 29.1% increase compared with the &#8364;388 million
recorded as of December 31, 2018, mainly due to the offering of a new
multi-strategic product.</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 non-performing
loan ratio of this operating segment as of December 31, 2019 was 1.2% compared with
1.7% as of December 31, 2018. This operating segment&#8217;s non-performing loan
coverage ratio increased to 98% as of December 31, 2019, from 83% as of
December 31, 2018.</font></font></p>

<p 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" lang=EN-US style="font-size:10.0pt;">Insurance
Activity</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;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 products offered by the insurance subsidiaries are life
insurance to cover the risk of death 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: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;">The
Group offers, in general, two types of savings products: individual insurance,
which seeks to provide the customer with savings for retirement or other
events, and collective insurance, which is taken out by employers to cover
their commitments to their employees.</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 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 additional information on our insurance activity.</font></font></p>

<p 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" lang=EN-US style="font-size:10.0pt;">Monetary
Policy</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;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:11.0pt;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:11.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;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>

<p style="border:none;margin-bottom:11.0pt;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:11.0pt;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:11.0pt;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:11.0pt;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:11.0pt;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;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">EU Treaty</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#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: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" 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: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 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, this
section also includes information regarding supervision and regulatory matters
applicable to our operations in Mexico, Turkey and the United States. </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;">The Bank&#8217;s &#8220;home&#8221;
supervisor is the European Central Bank (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">ECB</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), including the Single
Supervisory Mechanism (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">SSM</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) at the European level and the Bank of
Spain at the national level. The BBVA Group is also subject to supervision by a
wide variety of other local authorities given the Bank&#8217;s global presence, which
are considered to be &#8220;host&#8221; supervisors given the Bank&#8217;s foreign origin. These
include authorities in countries such as the United States, Mexico, Turkey and
the whole of BBVA&#8217;s footprint in South America.</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;">Following the global
financial crisis, European politicians took action to stabilize the region&#8217;s
banking sector, due to a period of turbulence and doubts regarding its
sustainability. This action culminated in the launch of the European Banking
Union (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">EBU</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). The EBU can be viewed as a house with different building
blocks. The EBU&#8217;s foundation includes the single rulebook (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Single
Rulebook</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), which was the first step to harmonize banking rules in the
European Union and includes landmark pieces of legislation such as the Capital
Requirements Regulation, the Capital Requirements Directive and the Bank
Recovery and Resolution Directive, among others. </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:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The first pillar of the EBU relates to supervision and
includes the SSM, which unified banking supervision in the European Union. This
responsibility was placed under the ECB, which follows a strict policy of
separation and confidentiality in order to ensure the independence of banking
supervision and monetary policy. The SSM works in very close coordination with
the national competent authorities (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">NCAs</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). As a result, the 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;) that are responsible for the daily
supervision of the most significant banks (one JST per bank) are composed of
employees from the ECB and, in the case of BBVA, from the Bank of Spain. This
arrangement enables supervision to be distant enough in order to avoid any
potential conflicts of interest, while also benefiting from local expertise on
a particular country&#8217;s intricacies. In addition, each JST member rotates every
three years. Furthermore, the SSM has pushed for more internationally diverse
JSTs and teams conducting on-site inspections, including assigning Heads of
Mission of a different nationality than the bank&#8217;s country of origin and by
having some members of the inspection team from a different EU country.</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;">The second pillar of
the EBU relates to resolution mechanisms and includes the 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;), for which a new institution was created, known as the
Single Resolution Board (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">SRB</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). The SRB, located in Brussels, works
closely with the National Resolution Authorities (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">NRAs</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), and, in the case
of Spain, the Bank of Spain and the Fund for Orderly Banking Restructuring (&#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;),
to ensure the orderly resolution of failing banks with minimum impact on the
real economy, the financial system and the public finances of the participating
EU member states and other countries.</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;">The role of the SRB
is proactive. Instead of waiting for resolution cases, the SRB focuses on
resolution planning and preparation with a forward-looking mindset to avoid the
negative impacts of a bank failure on the economy and financial stability of
the participating EU member states and other countries. Accordingly, one of the
key tasks of the SRB and NRAs is to draft resolution plans for the banks under
its remit. These plans are prepared jointly by the SRB and NRAs through
internal resolution teams (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">IRTs</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). The IRTs are composed of staff from
the SRB and the NRAs and are headed by coordinators appointed from the SRB&#8217;s
senior staff.</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;">Banking resolution,
previously not prioritized by regulatory authorities, became crucial following
the financial crisis and the need to inject substantial taxpayer funds into
financial institutions. The idea that underlies banking resolution is that a
&#8220;bail-in&#8221; is preferable to a &#8220;bail-out&#8221;. A &#8220;bail-out&#8221; occurs when outside
investors, such as a government, rescue a bank by injecting money to help make
debt payments. In the past, such as during the financial crisis, &#8220;bail-outs&#8221;
helped save banks from failing, with taxpayers assuming the risks associated
with their inability to make debt payments. On the other hand, a &#8220;bail-in&#8221;
occurs when a bank&#8217;s creditors (in addition to its shareholders) are forced to
bear some of the burden by having some or all of their debt written off. See &#8220;&#8212;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Spain&#8212;&nbsp;</font></i></font><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Recovery and Resolution of Credit
Institutions and Investment Firms</font></i></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; below.</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;">In order to permit
the execution of a bail-in, banks are required to hold on their balance sheet a
minimum volume of liabilities that could be bailed-in without operational or
legal issues in the event of resolution. This is the rationale behind 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;).&nbsp;</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;">Within the framework
of the SRM, the Single Resolution Fund (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">SRF</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) was also developed. This
is a fund composed of contributions from credit institutions and certain
investment firms in the 19 participating countries within the EBU. The SRF may
be used only under specific circumstances in banking resolution, such as to
guarantee the assets or liabilities of an institution under resolution or make
contributions to a bridge institution or asset management vehicle. The SRF can
be used only to ensure the effective application of resolution tools but not to
absorb the losses of an institution or for a recapitalization.</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;">The first and second
pillars of the EBU are highly interlinked. Prior to entering into a resolution
process, a bank must be considered by the SSM as failing or likely to fail,
which occurs when there is no other option to restore its viability (such as
applying the bank&#8217;s recovery plan) within the available time frame.</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;">The third and final
pillar of the EBU, which is still under discussion, is the European Deposit
Insurance Scheme (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">EDIS</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). The EDIS would enable the insurance of
deposits regardless of the country of origin of the bank, thus creating a fully
harmonized banking union. However, there remain political obstacles to the
creation of the EDIS which have not yet been resolved. In 2019, a High Level
Working Group on EDIS was created and charged with presenting a roadmap to
start political negotiations. At the national level, BBVA is currently subject
to the Deposit Guarantee Fund of Credit Institutions (&#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.</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:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In the aftermath of the global financial crisis, important
reforms were adopted at the international level, namely the Basel III capital
reforms (as defined below), which have been translated into relevant
legislation at the European and national level. In May 2019, the European
Council adopted a banking package which included new versions of some of the
regulations and directives that are part of the Single Rulebook. More
concretely, this package included the CRR II, the CRD V Directive, the SRM
Regulation II and the BRRD II (each as defined below). This package
incorporated some of the most recent internationally-agreed reforms mentioned
above, including measures such as a new leverage ratio requirement for all
institutions, a revised &#8220;Pillar 2&#8221; (as described below) framework, additional
supervisory powers in the area of money laundering and enhanced MREL
subordination rules for global systemically important institutions (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">G-SIIs</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)
and other top-tier banks.</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;">As a result of the
foregoing, banks in the EBU face increasingly intense supervisory scrutiny.
However, the reforms discussed above have resulted in structurally important
advances as asset quality, capital and liquidity levels in the European banking
sector have greatly improved since they were adopted. Another important
component of this progress has been the Supervisory Review and Examination
Process (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">SREP</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). The SREP is an annual exercise that determines a
bank&#8217;s capital requirements, on a &#8220;Pillar 2&#8221; basis, as well as the qualitative
requirements that the bank must address in the following year. This exercise
takes four different elements of a bank into account: (a) business model and
profitability, (b) capital, (c) liquidity and (d) governance and risk
management.</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;">In addition, any work
done during the year related to on-site inspections, deep dives, thematic
reviews, internal model investigations and other ad hoc requests (e.g.,
Brexit-related) feeds into the SREP. The SREP culminates with a supervisory
dialogue at the end of the year, where a preliminary review of the bank is
presented. In addition, prior to the beginning of each year, the SSM presents a
Supervisory Examination Program (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">SEP</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) which details the inspections,
high-level meetings and potential visits to group subsidiaries that are
forecasted to occur throughout the year. The process for creating a SEP for
each entity begins with defining the SSM&#8217;s risk dashboard and the
classification of risks according to their probability of occurring and
probable magnitude of impact, which then translates into the SSM&#8217;s priorities
for the following year.</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;">Another important
tool that the SSM possesses to supervise large European banking groups is the
Supervisory Colleges. For those banks for which the SSM acts as the consolidated
&#8220;home&#8221; supervisor, the SSM together with the relevant NCA organizes an event
where all of the banking group&#8217;s &#8220;host&#8221; supervisors are gathered at a
roundtable and where they discuss the current state of affairs of the bank in
the different relevant jurisdictions. The SRB follows a similar approach,
organizing Resolution Colleges with the banking group&#8217;s &#8220;host&#8221; resolution
authorities.</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;">The SSM also performs
comprehensive assessments, together with the NCAs, over the banks it directly
supervises. These are performed either regularly (at periodic intervals) or on
an ad hoc basis (e.g., when an EU member state requests to be part of the EBU).
These comprehensive assessments include two parts: (a) asset quality reviews of
the banks&#8217; exposures and (b) stress testing of the banks&#8217; balance sheets under
different scenarios. Furthermore, the European Banking Authority (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">EBA</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)
also organizes and performs an EU-wide stress test in coordination with the
ECB. This test, which occurs every two years, does not confer a pass or fail
result but instead contributes to determining &#8220;Pillar 2&#8221; guidance. While
&#8220;Pillar 2&#8221; guidance is a non-binding capital requirement, the EBA nonetheless
expects compliance with it. In those years in which there is no EBA stress
test, the SSM organizes a more specific stress test concerning a particular
topic, such as the impact of interest rate risk on the banking book or
liquidity.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;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 macro-prudential
aspect of supervision is also increasingly gaining relevance, including through
specific thematic reviews undertaken by the SSM on certain portfolios (e.g.,
real estate or shipping) and the creation of new authorities and review boards.
At the European level, these include the European Systemic Risk Board (&#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;),
which is responsible for monitoring macro-risks at the European level. The ESRB
also develops the adverse scenarios to be used in the EU-wide stress test. In
addition, in 2019 the Spanish Government created the Macro-prudential Authority
Financial Stability Council, which is chaired by the Minister of Economy and
Business and vice-chaired by the Governor of the Bank of Spain, and includes
the Deputy Governor of the Bank of Spain, who is responsible for banking
supervision, among its members.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;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 foregoing
illustrates how much the regulatory and supervisory landscape has changed in
the decade following the financial crisis, due in large part to 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;), an
international, standard-setting forum, which established important reforms at a
global level. Some of these reforms have been adopted in regulations at the
European level.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;"><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 following is a discussion of certain of these and other regulations
that are applicable to BBVA and certain related requirements.</font></font></p>


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<p 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><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: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;">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 certificates with maturity up to two
years and money market paper is 1%. There is no required reserve coefficient
for deposits with agreed maturity or period of notice over two years, repurchase
agreements and debt certificates with maturity over two years.</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;">According to the
Delegated Regulation (EU) 2015/61 issued by the European Commission of October
10, 2014, the liquidity coverage ratio came into force in Europe on October 1,
2015, with an initial 60% minimum requirement, which was progressively
increased (phased-in) up to 100% in 2018.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;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: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;">In December 2010, the
Basel Committee 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: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;">As a Spanish credit
institution, the BBVA Group 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 (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CRD IV Directive</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), through which the EU began
implementing the Basel III capital reforms, with effect from January 1, 2014.
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
(CRR I</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, together with the CRD IV Directive and any measures
implementing the CRD IV Directive or CRR I which may from time to time be
applicable in Spain, &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CRD IV</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), 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 the CRD IV Directive into Spanish law took place through
Royal Decree-Law 14/2013, of November 26, Law 10/2014, of June 26, on the
organization, supervision and solvency of credit institutions (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Law 10/2014</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;),
Royal Decree 84/2015, of February 13 (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Royal Decree 84/2015</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), Bank of Spain
Circular 2/2014 of January 31, and Bank of Spain Circular 2/2016, of February
2. </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 June 7, 2019, the
following amendments to CRD IV and Directive 2014/59/EU of May 15, 2014
establishing a framework for the recovery and resolution of credit institutions
and investment firms (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BRRD I</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) were published:</font></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-28.9pt;"><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;&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;">Directive 2019/878/EU of the
European Parliament and of the European Council of May 20, 2019 (as amended,
replaced or supplemented from time to time, the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CRD V Directive</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)
amending the CRD IV Directive (the CRD IV Directive as so amended by the CRD V
Directive and as amended, replaced or supplemented from time to time, the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CRD
Directive</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:11.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-28.9pt;"><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;&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;">Directive 2019/879/EU of the
European Parliament and of the European Council of May 20, 2019 (as amended,
replaced or supplemented from time to time, &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BRRD II</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) amending, among
other things, BRRD I as regards the loss-absorbing and recapitalization
capacity of credit institutions and investment firms (BRRD I as so amended by
BRRD II and as amended, replaced or supplemented from time to time, the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BRRD</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:11.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-28.9pt;"><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;&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;">Regulation (EU) No. 876/2019
of the European Parliament and of the Council of May 20, 2019 (as amended,
replaced or supplemented from time to time, &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CRR II</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;&nbsp;</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,
together with the CRD V Directive, &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CRD V</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) amending, among other
things, CRR I as regards the leverage ratio, the net stable funding ratio,
requirements for own funds and eligible liabilities, counterparty credit risk,
market risk, exposures to central counterparties, exposures to collective
investment undertakings, large exposures, and reporting and disclosure
requirements (CRR I as so amended by CRR II and as amended, replaced or
supplemented from time to time, the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CRR</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;); and</font></font></p>


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<p style="border:none;margin-bottom:11.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-28.9pt;"><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;&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;">Regulation (EU) No. 877/2019
of the European Parliament and of the Council of May 20, 2019 (as amended,
replaced or supplemented from time to time, the</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> &#8220;SRM Regulation II</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)
amending Regulation (EU) No. 806/2014 of the European Parliament and </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">of the Council of July</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> 15</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, 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 (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;">&#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;">SRM Regulation I</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;"> &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">as regards the
loss-absorbing and recapitalization capacity of credit institutions and
investment firms </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(SRM Regulation I as so amended by
SRM Regulation II and as amended, replaced or supplemented from time to time,
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;">&#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 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;">(CRD V, together with BRRD II and the SRM
Regulation II, 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><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;">. </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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The EU Banking Reforms (other than CRR II) are
stated to apply from 18 months </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">plus</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> one day after </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the date of </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">their
entry into force on June</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> 27</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, 2019, </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">other than in the case of</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> certain provisions of the CRD V Directive where a two year
period is provided for. CRR II is stated to apply from 24 months </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">plus</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
one day after the date of its entry into force on June</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> 27</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, 2019,
although certain provisions are stated to enter into force </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">in a phased-in manner</font></font><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;">further </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">described therein.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;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;">CRD IV, among other
things, 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 capital buffer requirement&#8221; that entities must comply with from
2016 onwards. The &#8220;combined capital buffer requirement&#8221; introduced five new
capital buffers: (a) the capital conservation buffer, (b) the G-SIB buffer, (c)
the institution-specific countercyclical buffer, (d) the D-SIB buffer, and (e)
the systemic risk buffer.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;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 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 capital buffer requirement&#8221;. This &#8220;combined
capital buffer requirement&#8221; applies in addition to the minimum &#8220;Pillar 1&#8221;
capital requirements and is required to be satisfied with CET1 capital.</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:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">The
G-SIB buffer is applicable to the institutions included in the list of G-SIBs,
which is updated annually by the Financial Stability Board. The Bank was
excluded from this list with effect as from January 1, 2017. Accordingly,
unless otherwise indicated by the Financial Stability Board (or the Bank of
Spain) in the future, the Bank will no longer be required to maintain the G-SIB
buffer.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;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;letter-spacing:-.1pt;">The Bank of Spain announced on November 25, 2019 that the Bank
continues to be considered a D-SIB and is required to maintain a fully-loaded
D-SIB buffer equivalent to a CET1 capital ratio of 0.75% on a consolidated
basis. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;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;letter-spacing:.15pt;">In December 2015, the Bank of Spain agreed to set the counter
cyclical capital buffer applicable to credit exposures in Spain at 0% from
January 1, 2016. This percentage is reviewed quarterly. In December 2019, the
Bank of Spain agreed to maintain the counter cyclical capital buffer applicable
to credit exposures in Spain at 0% for the final quarter of 2019. As of the
date of this Annual Report, the counter cyclical capital buffer applicable to
the Group stands at 0.01% due to certain exposures of the Group in other
jurisdictions. </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Additionally,
Article 104 of the CRD 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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">SSM Regulation</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#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
(although, under the EU Banking Reforms, it is proposed that further &#8220;Pillar 2&#8221;
capital requirements should be used to address micro-prudential considerations
only).</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;">Furthermore</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, the ECB is required, under Regulation (EU) No.
468/2014 of the ECB of April</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> 16</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, 2014 establishing the framework for
cooperation within the Single Supervisory Mechanism between the ECB and
national competent authorities and with national designated authorities (the </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">SSM
Framework Regulation</font></b></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;"><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;"> &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">to carry out a SREP for us and the Group at
least on an annual basis.</font></font></p>


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<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;">In addition to the above, the EBA published on December 19,
2014 its final guidelines for common procedures and methodologies in respect of
the SREP (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">EBA SREP Guidelines</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;). Included in the EBA SREP
Guidelines 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. In accordance with these
guidelines, national supervisors should set the composition of the capital
instruments required to comply with the &#8220;Pillar 2&#8221; requirement, so that at
least 56% of the &#8220;Pillar 2&#8221; requirement is covered with CET1 capital and at
least 75% with Tier 1 capital, as has also been provided in CRD V. The EBA SREP
Guidelines and CRD V also contemplate that national supervisors should not set
additional own funds requirements in respect of risks which are already covered
by the &#8220;combined capital buffer requirement&#8221; and/or additional macro-prudential
requirements. On July 19, 2018, the EBA published its final guidelines aimed at
further enhancing institutions&#8217; risk management and supervisory convergence in
respect of SREP. These guidelines focus on stress testing, particularly its use
in setting &#8220;Pillar 2&#8221; capital guidance and the level of interest rate risk.</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;">For further
information on the countercyclical capital buffer, the result of the most
recent SREP and the total capital requirements applicable to the BBVA Group,
see Note 32 to our Consolidated Financial Statements.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;text-align:justify;text-indent:18.0pt;"><font color=#222222 style="border:none;"><font color=#222222 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Additionally,
in 2019, the Bank has achieved its CET1 fully-loaded capital target, consisting
of a CET1 ratio within the range between 11.5% and 12% on a consolidated basis.
No assurance can be given that such target will not change in the future. See
&#8220;Cautionary Statement Regarding Forward-Looking Statements&#8221;. Any failure by us
to maintain a consolidated CET1 capital ratio in line with our CET1 fully-loaded
capital target could adversely affect the market price or value or trading
behavior of any securities issued by us (and, in particular, any of our capital
instruments) and ultimately lead to the imposition of further &#8220;Pillar 2&#8221;
guidance or requirements.&#160; In addition, 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, and
there can also be no assurance as to the result of any
future&nbsp;SREP&nbsp;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:11.0pt;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 set out in the
&#8220;Opinion of the European Banking Authority on the interaction of &#8220;Pillar 1,&#8221;
&#8220;Pillar 2&#8221; and combined buffer requirements and restrictions on distributions&#8221;
published on December 16, 2015 (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">December 2015 EBA Opinion</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-GB style="font-size:10.0pt;">competent authorities should ensure
that the CET1 capital to be taken into account in determining the CET1 capital
available to meet the &#8220;combined capital buffer requirement&#8221; is limited to the
amount of CET1 capital not used to meet the Bank&#8217;s &#8220;Pillar 1&#8221; and, where
applicable, &#8220;Pillar 2&#8221; own funds requirements. Furthermore, CRD V introduces
certain amendments in order to clarify the hierarchy or order of priority of
own funds and eligible liabilities among the &#8220;Pillar 1&#8221; minimum solvency
requirements, the &#8220;Pillar 2&#8221; additional own funds solvency requirements, the
MREL requirements and the &#8220;combined capital buffer requirement&#8221; (referred to as
the &#8220;stacking order&#8221;). </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;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;">In
accordance with Article 48 of Law 10/2014, Article 73 of Royal Decree 84/2015
and Rule 24 of Bank of Spain Circular 2/2016, any institution not meeting its
&#8220;combined capital buffer requirement&#8221; is required to calculate its maximum
distributable amount (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">MDA</font></b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">&#8221;) as stipulated in such legislation. Should
that requirement not be met and until the MDA has been calculated and
communicated to the Bank of Spain, the relevant institution shall not make any:
(i) distributions relating to CET1 capital; (ii) payments related to variable
remuneration or discretionary pension benefits; and (iii) distributions linked
to AT1 instruments (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">discretionary payments</font></b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">&#8221;), and once the MDA has been
calculated and communicated to the Bank of Spain, the discretionary payments
will be subject to the limit of the MDA calculated. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;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;">Additionally,
pursuant to Article 48 of Law 10/2014, the Bank of Spain&#8217;s adoption of the
measures provided by Articles 68.2.h) and 68.2.i) of Law 10/2014, aimed at
strengthening own funds and limiting or prohibiting the distribution of
dividends, respectively, will also entail the requirement to determine the MDA
and to restrict discretionary payments to such MDA. In accordance with the EU
Banking Reforms, the calculation of the MDA and the related restrictions,
including those applicable while such calculation is pending, which are
described in the preceding paragraph, shall also be triggered by a failure to
meet the MREL or the minimum leverage ratio 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;"><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:11.0pt;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;">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. CRD V also makes a distinction between &#8220;Pillar
2&#8221; capital requirements and &#8220;Pillar 2&#8221; capital guidance, with only the former being
mandatory requirements. Notwithstanding the foregoing, CRD V provides that, in
addition to certain other measures, supervisory authorities are 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:0cm;margin-bottom:11.0pt;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;">At its meeting of
January 12, 2014, the oversight body of the Basel Committee endorsed the
definition of the leverage ratio set forth in CRD IV, to promote consistent
disclosure, which applied from January 1, 2015. As of the date of this Annual
Report, there is no applicable regulation in Spain which establishes a specific
leverage ratio requirement for credit institutions. However, CRR II sets a
binding leverage ratio requirement of 3% 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. 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:18.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">Furthermore,
on </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">December 7, 2017 the BCBS
announced the completion of the 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 risk sensitivity, as well as to 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
(&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">RWA</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">s&#8221;) using internal risk models as compared to the standardized
approach, with a minimum capital requirement of 50% of RWAs calculated using
only the standardized approaches applying from January 1, 2022 and increasing
to 72.5% from January 1, 2027.</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160; &nbsp;</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;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, BRRD
prescribes that an institution 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 (MREL). 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, in agreement with
the competent authority, for each bank (and/or group) based on, among other
things, the criteria set forth in Article 45c.1 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:0cm;margin-bottom:11.0pt;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;">On</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;">November 9,
2015, the FSB published its final 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 RWAs 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. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;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;">Among other
amendments, BRRD II introduces the concepts of resolution institution and
resolution group. The EU Banking Reforms provide for the amendment of a number
of aspects of the MREL framework to align it with the 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;) standards included in the FSB final TLAC Principles
and Term Sheet. To maintain coherence between the MREL rules applicable to
G-SIBs and those applicable to non-G-SIBs, the BRRD II also provides for a
number of changes to the MREL rules applicable to non-G-SIBs. While the EU
Banking Reforms provide for minimum harmonized or &#8220;Pillar 1&#8221; MRELs for G-SIBs,
in the case of non-G-SIBs, they provide that MRELs will be imposed on a
bank-specific basis. For G-SIBs, the EU Banking Reforms provide 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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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:11.0pt;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;">Following the application of CRR II, CRR will establish that an
institution&#8217;s eligible liabilities will consist of its eligible liability items
(as defined therein) after a number of mandatory deductions and, in order to be
considered as eligible liabilities, it is stipulated, for example, that the
instruments must meet the requirements set out in Article 72b of the CRR, which
includes the need for those instruments to rank below the liabilities excluded
under Article 72.a.2 of the CRR.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;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;">Notwithstanding the
foregoing, CRR II provides for some exemptions which could allow outstanding
senior debt instruments to be used to comply with MREL. However, there is
uncertainty insofar as such eligibility is concerned and how the regulations
and exemptions provided for in the EU Banking Reforms are to be interpreted and
applied. In any event, BRRD II aims to provide greater certainty with respect
to eligible liabilities, in order to provide markets with the necessary clarity
concerning the eligibility criteria for instruments to be recognized as
eligible liabilities for TLAC or MREL purposes.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;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 outlined in the
final report submitted by the EBA on December 14, 2016 on the implementation
and design of the MREL framework which contains a number of recommendations to
amend the current MREL framework, the EBA&#8217;s recommendation is that an
institution will not be able to use the same CET1 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 MREL and will no longer count towards its combined
buffer requirement. Accordingly, this could trigger a limit on discretionary
payments.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;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 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 us) 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 must 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 will be eligible for
compliance with the subordination requirement). For &#8220;top tier&#8221; banks such as
us, this &#8220;Pillar 1&#8221; subordination requirement has been determined as the
highest of 13.5% of the Bank&#8217;s risk weighted assets (&#8220;RWAs&#8221;) or alternatively,
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:0cm;margin-bottom:11.0pt;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;">For information on the
notifications from the Bank of Spain regarding our MREL, as determined by the
SRB, see Note 32 to our Consolidated Financial Statements.</font></font></p>

<p 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><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:11.0pt;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:11.0pt;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. Regulatory capital management is based
on the analysis of the capital base and the capital ratios (core capital, Tier
1, etc.) using the BIS Framework rules and the CRR. See Note 32 to our
Consolidated Financial Statements.</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;">The aim of our
capital management 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. Various actions have been taken during the last
years in connection with our capital management and in order to comply with
various capital requirements applicable to us related to various actions
regarding asset sales.&nbsp;In addition, we may make&nbsp;securities issuances
or undertake&nbsp;new 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 capital
management and in order to comply with capital requirements or otherwise. The
Bank has obtained the Bank of Spain&#8217;s approval with respect to its internal
model of capital estimation concerning certain portfolios and its operational
risk internal model. </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: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;">From an economic standpoint, capital management seeks to
optimize value creation for the Group and its different business units. 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. </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The CER calculation
combines credit risk, market risk (including structural risk associated with
the balance sheet and equity positions), operational risk, model risk, business
risk, reputational risk and technical risks in the case of insurance companies.</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;">Shareholders&#8217; equity,
as calculated under the BIS Framework rules, is an important metric for the
Group. For the purpose of allocating capital to operating segments, the Group
focuses on both economic and regulatory capital. The purpose is to ensure that
the businesses are run considering both the risk-sensitive perspective and the
regulation requirement. These are designed to provide an equitable basis for
assigning capital and ensure adequate capital management across the Group. </font></font></p>

<p 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;"><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:11.0pt;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 so required under the CRR, an
institution must make available to the NCAs its 20 largest exposures on a
consolidated basis (but excluding certain exposures, if allowed under the CRR).
In addition, an institution must also report its 10 largest exposures on a
consolidated basis to other 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:11.0pt;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 must 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 must 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, must 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 the CRD IV Directive
to address and control concentration risk, provided that this limit shall not
exceed 100% of the institution&#8217;s eligible capital.</font></font></p>

<p 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;"><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: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;">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:11.0pt;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 of Financial Assets</font></i></b></font></p>

<p style="border:none;margin-bottom:11.0pt;margin-left:9.35pt;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;">For
a discussion of applicable accounting standards related to loss allowances on
financial assets and the method for calculating expected credit loss, see Note
2.2.1 to our Consolidated Financial Statements.</font></font></p>

<p 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><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: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;">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: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;">Although banks are not legally required to seek
prior approval from the Bank of Spain or the ECB before declaring interim
dividends, we inform each of them on a voluntary basis upon the declaration of
an interim dividend. 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 that credit institutions 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 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>


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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 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 are
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: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 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:11.0pt;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;">&#160;Investment Ratio</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;">In the past, the
Spanish 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-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:7.1pt;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Principal 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;">The following is a summary of certain laws and regulations
applicable to BBVA&#8217;s operations in Spain, Mexico, Turkey and the United States.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:11.0pt;page-break-after:avoid;text-align:justify;text-indent:7.1pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">Spain</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&#8217;s operations in Spain are subject to European
Union-wide and Spanish national regulations. Spain has a broad regulatory
framework designed to ensure consumer protection and enhance
transparency.&nbsp;Finance and deposits products are subject to both general
consumer and product-specific laws which, in certain circumstances,
differentiate between consumers and non-consumers.</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 provision of payment accounts and services in Spain is
subject to various regulations, most of which transpose European legislation,
such as Directive (EU) 2015/2366 (</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;PSD 2&#8221;</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) and Directive (EU) 2014/92.
Such regulations lay down minimum information requirements for providers of
payment accounts and services as well as certain transparency provisions with
regard to fees. A significant development in relation to the implementation of
PSD2 is a requirement to allow third parties access to accounts to provide
account information and payment initiation services, provided they have a
customer&#8217;s consent.</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 loans, there are separate regulations applying to
consumer loans and residential loans which are, in both cases, mainly derived
from European legislation, including Directive (EU) 2008/48 (relating to credit
agreements for consumers) and Directive (EU) 2014/17 (relating to credit
agreements for residential immovable property). Recently approved Law 5/2019<a name="m_536414947498505793_m_3250749855"></a><a name="m_536414947498505793_m_3250749855_bclEnd"></a>, of March 15, regulating
real estate credit agreements (</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Law 5/2019&#8221;</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">), applies to individuals,
whether or not they are consumers, and sets limits on default interest, early
maturity and early repayment fees, and provides a comprehensive framework of
pre-contractual information provisions. Law 5/2019 also requires that a notarial
act shall be granted prior to signing a residential credit agreement in which
the notary verifies that the bank has fulfilled all of its legal
pre-contractual information obligations.</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 regulatory framework also includes specific regulations
designed to protect the most vulnerable customers, such as the requirement for
banks to offer basic accounts to customers without access to ordinary bank
accounts. Basic accounts may be free of charge or have a maximum monthly cost
of three euros.&nbsp;In the area of mortgage lending, there is a code of good
practice to be adhered to by entities to make it easier for distressed debtors
to refinance their debt, including dation-in-payment as a refinance 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:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The European Union&#8217;s sustainability initiatives will also
impact asset management legislation, with MiFID II (as defined below), the
Alternative Investment Fund Managers Directive, the Undertakings for Collective
Investment in Transferable Securities Directive and the Revision of the
Institutions for Occupational Retirement Provision Directive being amended in
order to include environmental, social and governance factors in investment
processes, risk management and know-your-clients procedures. In addition, the
European Council and the Parliament reached a political agreement on the
Taxonomy Regulation, which provides for a general framework for the development
of an EU-wide classification system for environmentally sustainable economic
activities. Furthermore, the EBA published its Action Plan on sustainable finance
(including a voluntary sensitivity analysis for transition risks in the second
half of 2020), and the European Commission presented the European Green Deal, a
set of policy initiatives with the overarching aim of making Europe climate
neutral in 2050.</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;">Regarding the pension funds sector, Directive
(EU) 2016/2341 has been recently transposed by Royal Decree Law 3/2020, of
February 4, of urgent measures transposing into Spanish law various European
Union directives in the field of public procurement in certain sectors; private
insurance; pension plans and funds; taxation and tax litigation, including,
regarding pension funds and plans, (a) new governance requirements, (b) new
rules on own risk assessment, (c) increased reporting obligations vis-&#224;-vis the
clients and (d) enhanced powers for supervisors.</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 terms of financial markets legislation,&nbsp;Directive
(EU) 2014/65 relating to markets in financial instruments (</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;MIFID II&#8221;</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">)
has been fully implemented in Spain. Investor protection legislation is
completed by Regulation (EU) 1286/2014 (the </font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;PRIIPs Regulation&#8221;</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) which
became applicable on January 1, 2018. The PRIIPs Regulation requires product
manufacturers to create and maintain key information documents (</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;KIDs&#8221;</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">)
and persons advising or selling packaged retail and insurance-based investment
products (</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;PRIIPs&#8221;</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) to provide retail investors based in the European
Economic Area with KIDs to enable those investors to better understand and
compare products.&nbsp;Recently, European authorities have issued a
consultation paper to obtain feedback from the industry in order to amend the
PRIIPs Regulation. Depending on the result of that assessment, entities could
be subject to changes in systems and documentation related to PRIIPs.</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 European Union has also been very active in terms of
legislation to preserve financial stability. In this regard, the BBVA Group has
been subject to initial margin requirements under Regulation (EU) 648/2012,
regarding OTC derivatives, central counterparties and trade repositories, since
September 2019, as well as similar legislation in other geographies.
Consequently, BBVA Group entities classified as financial counterparties are
required to post and receive initial margin when dealing with other in-scope
entities. The BBVA Group is currently working to prepare together with its
clients the next phase in which new entities will be subject to the obligations,&nbsp;that
will start in September 2020.</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;">The impact and work to be done until that
period will depend on the number of entities that might be subject to this
obligation in 2020 (which may also depend on whether the approach of the
International Organization of Securities Commissions recommending a phase-in
for this 2020-phase</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;">is implemented in Europe).</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 other main initiative in which both the public and
private sectors have been fully involved during the last few years is the
interbank offered rates (</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;IBORs&#8221;</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) reform led by the Financial Stability
Board. BBVA has currently set up an internal working group
to&nbsp;analyze&nbsp;the potential impact of IBORs reform and actions to be
taken in relation thereto. It is expected that changes will need to be made to
some legacy contracts (mainly those linked to LIBOR and EONIA) and in certain
templates for new agreements. Regarding changes to EURIBOR, at the end of November
2019, the European Money Markets Institute announced that panel banks&#8217;
transition to the hybrid model had been completed. The new methodology is not expected
to have an impact on existing contracts, as EURIBOR will keep its name
unchanged and will still measure the same economic reality (i.e., cost of
wholesale funding for the banks of the European Union, Liechtenstein, Iceland,
Norway and Switzerland).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;margin-left:17.85pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-8.5pt;"><font color=black style="border:none;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Prevention
of Money Laundering and Terrorist Financing</font></u></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 10/2010, of April 28 (</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Law 10/2010&#8221;</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">), 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, including BBVA, are
subject to Law 10/2010, which transposes European legislation and establishes
applicable due diligence, internal controls and reporting obligations.</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;">It is important to highlight the costs of implementing this
regulation, which includes, among other obligations, procedures to know your
clients, continuous monitoring of their activity, warning generation,
investigation, suspicious activity reports, etc.</font></font></p>

<p style="border:none;margin:0cm;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;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Data Protection Regulation</font></u></font></p>

<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;">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 (</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 by providing natural persons in all EU
member states with the same level of legally enforceable rights and obligations
regarding personal data and imposing responsibilities on data controllers and
processors to ensure consistent monitoring of the processing of personal data.
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: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;">For BBVA, the GDPR has affected directly the
way we manage internal and external processes. Due to the incremental use of
new technologies in almost any process carried out by the Group, where personal
data of individuals are usually involved, we had to introduce multiple changes.
The GDPR&#8217;s accountability requirements to comply with data protection
principles and to be able to demonstrate such compliance, has led to an
increased uptake of implementing and revising our privacy management processes,
from the way in which consent is obtained from the client, to the
implementation of processes to put into effect new rights, such as the right to
be forgotten or the right to data portability.</font></font></p>

<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;">GDPR
introduces the risk-based approach, including Data Protection Assessments,
privacy by design requirements and the legitimate interest balancing test,
which have fostered a consistent discipline of assessing risk within the Group.
This ensures appropriate risk-based prioritization of mitigations and controls
and a more effective data management program based on actual risk.</font></font></p>

<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;">In terms
of security, GDPR obligations and requirements to notify breaches to
authorities and individuals under different circumstances meant that BBVA had
to review and enhance our existing data security measures and programs and also
to update BBVA&#8217;s breach response plans and notification procedures, while
training staff and management. </font></font></p>

<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;">Regarding
GDPR&#8217;s territorial scope, the rule is complex and it has created different
interpretations and compliance issues.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><u><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Spanish Auditing Law</font></u></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;">Law 22/2015, of July
20, on Auditing (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Law 22/2015</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), 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:14.2pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font color=black style="border:none;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Recovery and Resolution of Credit
Institutions and Investment Firms </font></u></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;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 BRRD (which has been partially
transposed in Spain 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;">Law
11/2015, of June 18, on the recovery and resolution of credit institutions and
investment firms (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Law 11/2015</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 </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, of November 6, on development of law on
recovery and resolution of credit entities and investment firms and
modification of the royal decree on deposit guarantee funds of credit entities
(&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">RD 1012/2015</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;">,
pending the transposition of BRRD II) and the SRM Regulation are designed to
provide the authorities with mechanisms and instruments to intervene
sufficiently early and rapidly in failing or likely to fail credit institutions
or investment firms (each an &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Entity</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) in order to ensure the continuity
of the Entity&#8217;s critical financial and economic functions, while minimizing the
impact of its non-feasibility on the economic and financial system. The BRRD
further provides that a Member State may only use additional financial
stabilization instruments to provide extraordinary public financial support as
a last resort, once the following resolution instruments have been evaluated
and used to the fullest extent possible while maintaining financial stability.</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;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 accordance with the provisions of
Article 20 of Law 11/2015, an Entity will be considered as failing or likely to
fail in any of the following situations: (i) when the Entity significantly
fails, or may reasonably be expected to significantly fail in the near future,
to comply with the solvency requirements or other requirements necessary to
maintain its authorization; (ii) when the Entity&#8217;s enforceable liabilities
exceed its assets, or it is reasonably foreseeable that they will exceed them
in the near future; (iii) when the Entity is unable, or it is reasonably
foreseeable that it will not be able, to meet its enforceable obligations in a
timely manner; or (iv) when the Entity needs extraordinary public financial
support (except in limited circumstances). The decision as to whether the
Entity is failing or likely to fail may depend on a number of factors which may
be outside of that Entity&#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:0cm;margin-bottom:12.0pt;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;">In line with the provisions of the BRRD, Law 11/2015
contains four resolution tools which may be used individually or in any
combination, when the Spanish Resolution Authority considers that (a) an Entity
is non-viable or is failing or likely to fail, (b) there is no reasonable
prospect of any other measures that would prevent the failure of such Entity
within a reasonable period of time, and (c) resolution is necessary or
advisable, as opposed to the winding up of the Entity through ordinary insolvency
proceedings, for reasons of public interest. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;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 four
resolution instruments are (i) the sale of the Entity&#8217;s business, which enables
the resolution authorities to transfer, under market conditions, all or part of
the business of the Entity being resolved; (ii) bridge institution, which
enables resolution authorities to transfer all or part of the business of the
Entity to a &#8220;bridge institution&#8221; (an entity created for this purpose that is
wholly or partially in public control); (iii) 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 their
eventual sale or orderly wind-down (this can be used together with another
resolution tool only); and (iv) the Bail-in Tool (as defined below). Any
exercise of the Bail-in Tool by the 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 Bail-in Tool) of certain unsecured debt claims of the
Entity.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;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;">In the
event that an Entity is in a resolution situation, the &#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Bail-in Tool</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221; is
understood to mean 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:0cm;margin-bottom:12.0pt;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;">In
accordance with the provisions of Article 48 of Law 11/2015 (without prejudice
to any exclusions that may be applied by the Spanish Resolution Authority in
accordance with Article 43 of Law 11/2015), in the event of any application of
the Bail-in Tool, any resulting write-down or conversion by the Spanish
Resolution Authority will be carried out so that they affect instruments in the
following sequence: (i) CET1 items; (ii) the principal amount of Additional
Tier 1 capital instruments; (iii) the principal amount of Tier 2 capital
instruments; (iv) the principal amount of other subordinated claims other than
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 (with senior non-preferred claims (</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">cr&#233;ditos
ordinarios no preferentes</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) subject to the Bail-in Tool after any
subordinated claims (</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">cr&#233;ditos subordinados</font></i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">) under Article 92 of the
Insolvency Law, but before the other senior claims).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;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;">In
addition to the Bail-in Tool, 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 of an Entity at the point
of non-viability (&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Non-Viability Loss Absorption</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, together with 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;">Bail-in Tool</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;">Spanish Bail-in Power</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;">). Any write-down or conversion must
follow the same insolvency hierarchy as described below. The point of
non-viability of an Entity is the point at which the Spanish Resolution
Authority determines that the Entity 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 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
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 Bail-in Tool or any other resolution tool or power (where
the conditions for resolution referred to above are met). </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-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;">In addition, the EBA has published certain technical
regulation standards and technical implementation standards to be adopted by
the European Commission, in addition to other guidelines. These standards and
guidelines could potentially be relevant in determining when or how a Spanish
Resolution Authority may exercise the Bail-in Tool and/or impose a
Non-Viability Loss Absorption. These include guidelines on the treatment of
shareholders when applying the Bail-in Tool or Non-Viability Loss Absorption,
as well as on the rate for converting debt into shares or other securities or debentures
in the application of the Bail-in Tool and/or Non-Viability Loss Absorption. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;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;">To the
extent that any resulting treatment of a holder of the Bank&#8217;s securities
pursuant to the exercise of the Bail-in Tool 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, together
with any other compensation provided for in any applicable banking regulations
including, inter alia, compensation in accordance with Article 36.5 of Law
11/2015. However, if the treatment of a creditor following a Non-Viability Loss
Absorption is less favorable than it would have been under ordinary insolvency
proceedings, it is uncertain whether said creditor would be entitled to the
compensation provided for in the BRRD and the SRM Regulation. </font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:11.0pt;page-break-after:avoid;text-align:justify;text-indent:7.1pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">Mexico</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;">BBVA&#8217;s operations in Mexico are subject to regulation by
Mexican national authorities. The Mexican regulatory framework for financial
and banking activities aims to ensure the stability of the financial system, as
well as to provide consumer protection and transparency in the provision of
financial services.</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 provision of finance and deposit products is mainly
regulated in the Banking Law and provisions issued by National Banking and
Securities Commission (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CNBV</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) and Bank of Mexico (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BANXICO</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;),
where CNBV establishes prudential obligations and BANXICO regulates the banking
transactions, including finance and deposit products. In addition, the
Financial Services Transparency and Regulation Law contains provisions
regarding transparency and protection for the users of financial services. </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 regulatory framework for capital markets includes
specific regulations designed to develop the stock market in an equitable,
efficient and transparent manner, protect the interests of investors, as well
as minimize systemic risk and the promotion of a healthy competition. </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;">Regarding asset management, regulation encourages the
promotion of investment companies, their balanced development and the promotion
of conditions for strengthening and decentralizing the stock market through the
access for small and medium investors, the establishment of rules for the
organization and operation of investment funds, the intermediation of their
shares in the stock market, as well as the organization and operation of the
people who provide asset management services.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;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;">Recent changes to the
Mexican framework include: (a) the issuance by BANXICO of rules regarding the
granting of finance products linked to payroll services, (b) the proposal of an
initiative regarding bank fees that requires banks to offer certain accounts
exempted from some fees and to provide comparative information of the fees
charged, and (c) the amendment to the law to establish obligations related to
telemarketing activities.</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:21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Under the new administration, regulatory activity in Mexico
has slowed down considerably, although one draft bill could have significant
potential impact on competition in the near future. In November 2019, after the
ruling party&#8217;s majority leader in the Senate presented a bill to severely
restrict banks&#8217; fees, a new banking fee bill with a broader and more
comprehensive approach, developed by the Mexican Bank Association and the
financial authorities, was presented. This new project would, inter alia, (a)
broaden existing &#8220;basic&#8221; fee-free accounts to include accounts into which
government aid and subsidies are deposited (for example with respect to
unemployed or disabled customers); (b) create an &#8220;intermediate account&#8221; which
would have no fees for deposits, for a number of monthly cash withdrawals on own
ATMs (to be determined by BANXICO), and up to three interbank monthly
transfers, among others; (c) reinforce measures to permit customers to switch
banks and cancel products; (d) create a mandatory banking services offering
platform where customers will be able to review offers and, if they so choose
and meet the relevant eligibility criteria (including credit checks, where
applicable), receive a binding offer from the bank in question; and (e) with
clients&#8217; prior consent, allow banks to access credit data for the submission of
tailored offers to potential clients through the credit bureaus. The bill would
increase fee transparency requirements, with enhanced fee disclosure prior to
the signing of contracts, and the submission of a yearly report on paid fees
and interest. In addition, BANXICO and CONDUSEF (the financial ombudsman),
would be required to align their fee catalogues in order to make comparison
easier for clients. The bill was presented to the Senate, and could be voted on
in the coming months, before continuing its process at the Chamber of Deputies.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:11.0pt;page-break-after:avoid;text-align:justify;text-indent:14.2pt;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">Turkey</font></i></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;">BBVA&#8217;s operations in
Turkey are subject to regulation by Turkish national authorities. In general,
the rules applicable to products and services that banks in Turkey offer to
consumers are more stringent than rules applicable with respect to commercial
and corporate banking customers. Besides general consumer protection
regulations, there are specific regulations of the Banking Regulation and
Supervision Agency (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BRSA</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) on banking consumers.</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;">Apart from
fundamental legal rules and product/service-specific legal regulations, the
most basic regulation for the sector is the Banking Law No. 5411. The purpose
of this law is to regulate the principles and procedures of ensuring confidence
and stability in financial markets, the efficient functioning of the credit
system and the protection of the rights and interests of depositors.</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;">In 2019, new
regulations were passed that seek to facilitate the restructuring and repayment
of loans by distressed commercial customers, provided that they are willing to
pay their debts but are not able to fulfill their obligations due to financial
distress. These regulations seek to ensure that customers can resume their
economic activities in a reasonable time and under reasonable conditions. The
debt restructuring could involve, inter alia, the extension of loan maturities,
the renewal of loans, the granting of additional credit and the release of
claims.</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;">In addition, the new
legal framework extended the maturity period for consumer loans. This extension
applies to all consumer loans, including loans that existed at the time that
the framework was passed.</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;">Floating interest
rates can be applied to Turkish Lira deposits with a maturity of three months
or more, and to foreign currency deposits with a maturity of more than six
months. Regarding fees received from merchants from purchases made by credit
cards, while the banks previously had the right to determine the commission
rate within their sole discretion, such commission rate has now been limited to
1.60%.</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;">In general, the
Payment Systems Law regulates the procedures and principles of payment
services, payment institutions and electronic money institutions. While certain
significant amendments have been made to this law, they have not yet come into
force. These amendments seek to: (i) answer the sectoral needs of the payment
and electronic money institutions; (ii) eliminate the dual structure which
consists of the Central Bank of the Republic of Turkey (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Central Bank</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)
and BRSA and position the Central Bank as the sole regulatory and supervisory
authority and; (iii) ensure the compliance of Turkish legislation with EU
regulations (especially the Payment Services (PSD2) Directive). As part of
these amendments, with the authority defined as payment service initiation and
providing of account information, it will be possible to consolidate payment
account information online with consenting users and initiate a payment for a
payment account at another payment service provider.</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;">The draft Regulation
on Information Systems and Electronic Banking Services is expected to enter
into force during the first quarter of 2020. The draft regulation mainly
regulates information systems and electronic banking. The draft regulation
explicitly stipulates that cloud-based information systems (and their backups)
(including those used by Garanti BBVA and its Turkish customers) shall be
maintained in Turkey.</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: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;">Garanti BBVA conducts its investment banking business in
accordance with the Turkish Capital Market Law and various related regulations
issued by Capital Market Board of Turkey. As a commercial bank, Garanti BBVA
has a license to carry out the following activities: (a) receipt and
transmission of orders in relation to capital market instruments, (b) execution
of orders in relation to capital market instruments (except shares and
derivative instruments based on stock indices or stocks) in the name and
account of the customer or in its own name and in the account of the customer,
(c) dealing for its own account (except for derivative instruments based on
stock indices and stocks) and (d) safekeeping and administration of capital
market instruments in the name of the customer and portfolio custody service.</font></font></p>

<p 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" lang=EN-US style="font-size:10.0pt;font-style:normal;">United
States</font></b></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;">BBVA&#8217;s activities and
operations in the United States are subject to extensive U.S. federal and state
supervision and regulation, and in some cases, U.S. requirements may impose
restrictions on BBVA&#8217;s global activities. BBVA is a foreign banking
organization and 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;) and the
International Banking Act of 1978, as amended (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">IBA</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), and as a
result, BBVA is subject to regulation and supervision by 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 be treated as a financial holding company. </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;">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 and IBA. BBVA 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. In addition, a
bank holding company, including BBVA, 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.</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;">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></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;">BBVA USA Bancshares,
Inc., BBVA&#8217;s top-tier U.S. intermediate holding company, holds all of BBVA&#8217;s
U.S. bank and nonbank subsidiaries, including BBVA&#8217;s U.S. bank subsidiary, BBVA
USA. BBVA USA Bancshares, Inc. is also a bank holding company that has elected
to be treated as a financial holding company and is subject to regulation and
supervision by the Federal Reserve. </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BBVA USA is</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
regulated extensively under U.S. federal and state law by, among other
regulators, the Federal Reserve, the Federal Deposit Insurance Corporation (&#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;)
and the Alabama State Banking Department. BBVA USA 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;) with respect to consumer protection laws.</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;">To continue to be
treated as a financial holding company, each of BBVA and BBVA USA Bancshares,
Inc. must maintain certain regulatory capital ratios above minimum requirements
and must be deemed to be &#8220;well-managed&#8221; for U.S. bank regulatory purposes.&#160; In
addition, any U.S. depository institution subsidiaries of the foreign banking
organization or bank holding company must also maintain certain regulatory
capital ratios above minimum requirements and be deemed to be &#8220;well-managed&#8221;
and must have at least a &#8220;satisfactory&#8221; rating under the Community Reinvestment
Act of 1977.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;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;">Sections 23A and 23B
of Federal Reserve Act and Regulation W place various qualitative and
quantitative restrictions on BBVA and its non-bank subsidiaries with regard to
extensions of credit, credit exposures arising from derivative transactions,
and securities borrowing and lending transactions 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. These
restrictions also apply to certain transactions of BBVA&#8217;s New York branch with
certain of its affiliates.</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:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The availability of dividends from banking organizations in the United
States is limited by various statutes and regulations. Federal banking agencies
are authorized to determine, under certain circumstances relating to the
financial condition of a bank holding company or a bank, that the payment of
dividends would be an unsafe or unsound practice and to prohibit payment
thereof. In particular, the banking agencies have stated that paying dividends
that deplete a banking organization&#8217;s capital base to an inadequate level would
be an unsafe and unsound banking practice and that banking organizations should
generally pay dividends only out of current operating earnings. In addition,
state-chartered banking institutions, including BBVA USA, are subject to
dividend limitations imposed by applicable federal and state laws.</font></font></p>

<p style="border:none;margin:0cm;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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Enhanced Prudential Standards</font></i></font></p>

<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;">Pursuant
to 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;BBVA
and BBVA USA Bancshares, Inc. have been subject to certain enhanced prudential
standards (including resolution planning), capital adequacy requirements,
capital planning and stress testing, liquidity standards, risk management and
governance requirements, among other regulatory and supervisory requirements</font><font color=black 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: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;">In
October 2019, the Federal Reserve finalized rules that implement certain
provisions of the Economic Growth Regulatory Relief and Consumer Protection Act
(&#8220;</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">EGRRCPA</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) by tailoring enhanced prudential standards and capital and
liquidity requirements applicable to foreign and domestic banking
organizations, including BBVA and BBVA USA Bancshares, Inc. As a result, both
BBVA and BBVA USA Bancshares, Inc. will be subject to less restrictive enhanced
prudential standards and capital and liquidity requirements going forward.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;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;">Under Title I of the
Dodd-Frank Act and implementing regulations issued by the Federal Reserve and
the FDIC, BBVA must prepare and submit 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;). BBVA filed its most
recent Title I Resolution Plan in December 2018.<a name="page_82"></a><a name="page_82_bclEnd"></a> As a result of EGRRCPA and its implementing
regulations, BBVA will now be required to file a reduced Title I Resolution
Plan once every three years. In addition, BBVA USA is subject to the FDIC rule
requiring large insured depository institutions to submit periodically to the
FDIC a plan for resolution in the event of failure under the Federal Deposit
Insurance Act.&nbsp;The deadline for the BBVA&#8217;s next Title I Resolution Plan
submission is currently unclear, because 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:0cm;margin-bottom:11.0pt;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;">BBVA USA Bancshares,
Inc. and BBVA USA 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.&#160; In the past, BBVA USA Bancshares, Inc. and
BBVA USA had been subject to certain additional capital planning, stress
testing and liquidity requirements, but, as result of EGRRCPA and its
implementing regulations, BBVA USA Bancshares, Inc. and BBVA USA will no longer
be subject to these additional requirements.</font></font></p>

<p style="border:none;margin:0cm;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;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Volcker Rule</font></i></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;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 Volcker Rule
prohibits an insured depository institution, such as BBVA USA, 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: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;">In October 2019, the
five regulatory agencies charged with implementing the Volcker Rule released
finalized amendments to the current Volcker Rule regulations that 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. In addition, the
regulatory agencies proposed further amendments to the covered fund provisions
of the Volcker Rule in January 2020. BBVA is of the view that the impact of the
Volcker Rule, as amended and proposed to be amended, is not material to its
business 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:0cm;margin-bottom:11.0pt;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;">Derivatives</font></i></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;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;">BBVA is provisionally
registered as a &#8220;swap dealer&#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 and the National Futures Association. 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.&nbsp; In addition, subject to certain conditions, BBVA may
comply with EU OTC derivatives requirements in lieu of certain CFTC requirements,
including portfolio reconciliation, portfolio compression and trade
confirmation requirements, pursuant to substituted compliance determinations
issued by the CFTC.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;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;">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.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;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;">BBVA is currently
assessing whether it, or any of its affiliates, 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:0cm;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;"><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></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;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;">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, (a) give special attention to correspondent and
payable-through bank accounts, (b) implement enhanced reporting due diligence,
and &#8220;know your customer&#8221; standards for private banking and correspondent
banking relationships, (c) scrutinize the beneficial ownership and activity of
certain non-U.S. and private banking customers (especially for so-called
politically exposed persons), and (d) 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:0cm;margin-bottom:11.0pt;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;">Other Regulated U.S. Entities</font></i></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;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;">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:0cm;margin-bottom:11.0pt;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;">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 (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">FinCEN</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) of the U.S. Department of the Treasury.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;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;">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. In addition, 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:0cm;margin-bottom:11.0pt;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 activities of
BBVA&#8217;s U.S. investment adviser affiliates are regulated and supervised by the
SEC. In addition, BBVA USA 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: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;">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>


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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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">63</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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-bottom:11.0pt;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: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;">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:11.0pt;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:11.0pt;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;">. The BBVA Group made a payment of $642 to Bank Melli on
July 11, 2019, due to outstanding commissions on the counterindemnity executed
on October 16, 2018. Such counterindemnity was issued in April 2000 and has
been regulatory reported until its execution in 2018.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:11.0pt;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, 2019, 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;">$</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">2,225. 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: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;">The BBVA Group is
committed to terminating these business relationships as soon as legally
possible.</font></font></p>

<h2 style="border:none;margin-bottom:11.0pt;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;">C.&#160;&#160; Organizational
Structure</font></b></font></h2>

<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;">For information on
the composition of the BBVA Group as of December 31, 2019, see Note 1.1 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 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, Bolivia, Brazil, Chile, Colombia, Finland, France, Germany, Italy,
Mexico, Netherlands, Peru, Portugal, Romania, Spain, Switzerland, Turkey,
United Kingdom, the United States of America, Uruguay and Venezuela. In addition,
BBVA has an active presence in Asia.
</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">64</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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:11.0pt;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;">Below is a simplified organizational chart of
BBVA&#8217;s most significant subsidiaries as of December 31, 2019.</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_4C2" style="border-collapse:collapse;width:100%;">
 <tr style="height:27.0pt;">
  <td nowrap width=42% 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" lang=EN-US style="font-size:7.0pt;">Subsidiary</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=center style="border: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-US style="font-size:7.0pt;">Country of
  Incorporation</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" lang=EN-US style="font-size:7.0pt;">Activity</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=center style="border: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-US style="font-size:7.0pt;">BBVA Voting Power</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=center style="border: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-US 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" lang=EN-US style="font-size:7.0pt;">Total Assets (1)</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td nowrap valign=bottom width=42% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="border:none;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 lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=24% 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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">(In Millions of
  Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=42% 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" lang=EN-US style="font-size:8.0pt;">BBVA MEXICO</font></font></p>
  </td>
 <td width=12% style="background:white;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" lang=EN-US style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td width=11% style="background:white;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" lang=EN-US style="font-size:8.0pt;">Bank</font></font></p>
  </td>
 <td width=12% style="background:white;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" lang=EN-US style="font-size:8.0pt;">100.00</font></font></p>
  </td>
 <td width=12% style="background:white;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" lang=EN-US style="font-size:8.0pt;">100.00</font></font></p>
  </td>
 <td width=11% style="background:white;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" lang=EN-US style="font-size:8.0pt;">&#160;95,364&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=42% style="background:white;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" lang=EN-US style="font-size:8.0pt;">BBVA USA</font></font></p>
  </td>
 <td width=12% style="background:white;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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">The United States</font></font></p>
  </td>
 <td width=11% style="background:white;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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Bank</font></font></p>
  </td>
 <td width=12% style="background:white;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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">100.00</font></font></p>
  </td>
 <td width=12% style="background:white;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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">100.00</font></font></p>
  </td>
 <td width=11% style="background:white;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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&#160;72,994&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=42% 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" lang=EN-US style="font-size:8.0pt;">GARANTI BBVA AS</font></font></p>
  </td>
 <td width=12% style="background:white;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" lang=EN-US style="font-size:8.0pt;">Turkey</font></font></p>
  </td>
 <td width=11% style="background:white;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" lang=EN-US style="font-size:8.0pt;">Bank</font></font></p>
  </td>
 <td width=12% style="background:white;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" lang=EN-US style="font-size:8.0pt;">49.85</font></font></p>
  </td>
 <td width=12% style="background:white;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" lang=EN-US style="font-size:8.0pt;">49.85</font></font></p>
  </td>
 <td width=11% style="background:white;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" lang=EN-US style="font-size:8.0pt;">&#160;56,969&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=42% 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=EN-US style="font-size:8.0pt;">BBVA PERU</font></font></p>
  </td>
 <td width=12% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="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-US style="font-size:8.0pt;">Peru</font></font></p>
  </td>
 <td width=11% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="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-US style="font-size:8.0pt;">Bank</font></font></p>
  </td>
 <td width=12% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="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-US style="font-size:8.0pt;">92.24 (2)</font></font></p>
  </td>
 <td width=12% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="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-US style="font-size:8.0pt;">46.12</font></font></p>
  </td>
 <td width=11% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="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-US style="font-size:8.0pt;">&#160;21,506&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=42% 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:8.0pt;">BBVA SEGUROS, S.A. DE SEGUROS Y REASEGUROS</font></font></p>
  </td>
 <td width=12% 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Spain</font></font></p>
  </td>
 <td width=11% 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Insurance</font></font></p>
  </td>
 <td width=12% 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">99.96</font></font></p>
  </td>
 <td width=12% 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">99.96</font></font></p>
  </td>
 <td width=11% 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&#160;17,950&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=42% 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=EN-US style="font-size:8.0pt;">BBVA COLOMBIA, S.A.</font></font></p>
  </td>
 <td width=12% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="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-US style="font-size:8.0pt;">Colombia</font></font></p>
  </td>
 <td width=11% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="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-US style="font-size:8.0pt;">Bank</font></font></p>
  </td>
 <td width=12% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="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-US style="font-size:8.0pt;">95.47</font></font></p>
  </td>
 <td width=12% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="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-US style="font-size:8.0pt;">95.47</font></font></p>
  </td>
 <td width=11% style="background:white;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="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-US style="font-size:8.0pt;">&#160;17,222&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=42% 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:8.0pt;">BANCO BBVA ARGENTINA, S.A.</font></font></p>
  </td>
 <td width=12% 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Argentina</font></font></p>
  </td>
 <td width=11% 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Bank</font></font></p>
  </td>
 <td width=12% 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">66.55</font></font></p>
  </td>
 <td width=12% 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">66.55</font></font></p>
  </td>
 <td width=11% 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&#160;6,587&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=42% 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" style="font-size:8.0pt;">SEGUROS BBVA BANCOMER, S.A. DE C.V., GRUPO
  FINANCIERO BBVA BANCOMER</font></font></p>
  </td>
 <td width=12% style="background:white;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=EN-US style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td width=11% style="background:white;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=EN-US style="font-size:8.0pt;">Insurance</font></font></p>
  </td>
 <td width=12% style="background:white;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=EN-US style="font-size:8.0pt;">100.00</font></font></p>
  </td>
 <td width=12% style="background:white;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=EN-US style="font-size:8.0pt;">100.00</font></font></p>
  </td>
 <td width=11% style="background:white;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=EN-US style="font-size:8.0pt;">&#160;5,335&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:24.6pt;">
  <td width=42% 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" style="font-size:8.0pt;">PENSIONES BBVA BANCOMER, S.A. DE C.V., GRUPO
  FINANCIERO BBVA BANCOMER</font></font></p>
  </td>
 <td width=12% style="background:white;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" lang=EN-US style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td width=11% style="background:white;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" lang=EN-US style="font-size:8.0pt;">Insurance</font></font></p>
  </td>
 <td width=12% style="background:white;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" lang=EN-US style="font-size:8.0pt;">100.00</font></font></p>
  </td>
 <td width=12% style="background:white;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" lang=EN-US style="font-size:8.0pt;">100.00</font></font></p>
  </td>
 <td width=11% style="background:white;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" lang=EN-US style="font-size:8.0pt;">&#160;5,080&#160;&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:25.35pt;">
  <td width=42% 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" lang=EN-US style="font-size:8.0pt;">BBVA USA BANCSHARES, INC.</font></font></p>
  </td>
 <td width=12% style="background:white;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" lang=EN-US style="font-size:8.0pt;">The United States</font></font></p>
  </td>
 <td width=11% style="background:white;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" lang=EN-US style="font-size:8.0pt;">Investment</font></font></p>
  </td>
 <td width=12% style="background:white;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" lang=EN-US style="font-size:8.0pt;">100.00</font></font></p>
  </td>
 <td width=12% style="background:white;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" lang=EN-US style="font-size:8.0pt;">100.00</font></font></p>
  </td>
 <td width=11% style="background:white;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" lang=EN-US style="font-size:8.0pt;">&#160;4,099&#160;&#160; &nbsp;</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;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;">(1)&#160;&#160; Information for non-EU subsidiaries
has been calculated using the prevailing exchange rates on December 31, 2019.</font></font></p>

<p style="border:none;margin-bottom:11.0pt;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:9.0pt;">(2)&#160;&#160; Subject to certain
exceptions.</font></font></p>

<h2 style="border:none;margin-bottom:11.0pt;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.&#160;&#160;
Property, Plants and Equipment</font></b></font></h2>

<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;">We own and rent a
substantial network of properties in Spain and abroad, including 2,642 branch
offices in Spain and, principally through our various subsidiaries, 5,102
branch offices abroad as of December 31, 2019. As of December 31, 2019,
approximately 67% of our branches in Spain and 65% of our branches abroad (59%
excluding branches relating to Garanti BBVA) 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:89.3pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-89.3pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US 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:21.25pt;"><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:0cm;margin-right:0cm;margin-top:6.0pt;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;">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. Interest income figures include &#8220;other income&#8221;, which
amounted to &#8364;343 million for the year ended December 31, 2019. For additional
information on &#8220;interest and other income&#8221; see Note 37.1 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;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: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 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.
</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">65</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_4E1.1" 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=9 nowrap valign=bottom 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" lang=EN-US style="font-size:8.0pt;">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=30% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 valign=bottom width=25% 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" lang=EN-US style="font-size:8.0pt;">Year Ended
  December 31, 2019</font></b></font></p>
  </td>
 <td colspan=3 valign=bottom width=22% 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" lang=EN-US style="font-size:8.0pt;">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" lang=EN-US style="font-size:8.0pt;">Year Ended
  December 31, 2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:30.75pt;">
  <td valign=bottom width=30% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">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" lang=EN-US style="font-size:8.0pt;">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" lang=EN-US style="font-size:8.0pt;">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" lang=EN-US style="font-size:8.0pt;">Average Balance</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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Interest</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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">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" lang=EN-US style="font-size:8.0pt;">Average Balance</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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Interest</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" lang=EN-US style="font-size:8.0pt;">Average Yield (1)</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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=9 nowrap valign=bottom 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" lang=EN-US style="font-size:8.0pt;">(In Millions of
  Euros, Except Percentages)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=30% 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=EN-US style="font-size:9.0pt;">Assets</font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=30% 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" lang=EN-US style="font-size:9.0pt;">Cash and balances with central banks and other
  demand deposits</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">46,060</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">256</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">0.56%</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">42,730</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">135</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">0.32%</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">33,917</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">83</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">0.25%</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=30% 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Domestic</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 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" lang=EN-US style="font-size:9.0pt;">17,293</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">50</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">0.29% </font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">19,883</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">43</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">0.22% </font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">12,150</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">34</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">0.28% </font></i></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=30% 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Foreign</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 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" lang=EN-US style="font-size:9.0pt;">28,767</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">206</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">0.72% </font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">22,847</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">92</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">0.40% </font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">21,767</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">50</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">0.23% </font></i></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Debt securities and derivatives</font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">186,156</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" lang=EN-US style="font-size:9.0pt;">5,458</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" lang=EN-US style="font-size:9.0pt;">2.93%</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" lang=EN-US style="font-size:9.0pt;">179,672</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" lang=EN-US style="font-size:9.0pt;">5,707</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" lang=EN-US style="font-size:9.0pt;">3.18%</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" lang=EN-US style="font-size:9.0pt;">177,164</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" lang=EN-US style="font-size:9.0pt;">4,724</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" lang=EN-US style="font-size:9.0pt;">2.67%</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=30% 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Domestic</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 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" lang=EN-US style="font-size:9.0pt;">124,600</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1,070</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">0.86% </font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">116,998</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1,212</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1.04% </font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">110,491</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1,089</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">0.99% </font></i></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=30% 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Foreign</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 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" lang=EN-US style="font-size:9.0pt;">61,555</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">4,388</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">7.13% </font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">62,674</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">4,495</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">7.17% </font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">66,673</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3,636</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">5.45% </font></i></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Financial assets</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">415,580</font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">25,020</font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">6.02%</font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">410,149</font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">23,719</font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">5.78%</font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">444,518</font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">24,003</font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">5.40%</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">Loans and advances to central banks</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">5,086</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" lang=EN-US style="font-size:9.0pt;">267</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" lang=EN-US style="font-size:9.0pt;">5.25% </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" lang=EN-US style="font-size:9.0pt;">5,518</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" lang=EN-US style="font-size:9.0pt;">258</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" lang=EN-US style="font-size:9.0pt;">4.67% </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" lang=EN-US style="font-size:9.0pt;">10,945</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" lang=EN-US style="font-size:9.0pt;">258</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" lang=EN-US style="font-size:9.0pt;">2.36% </font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">Loans and advances to credit institutions</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">32,448</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" lang=EN-US style="font-size:9.0pt;">806</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" lang=EN-US style="font-size:9.0pt;">2.48% </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" lang=EN-US style="font-size:9.0pt;">25,634</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" lang=EN-US style="font-size:9.0pt;">657</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" lang=EN-US style="font-size:9.0pt;">2.56% </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" lang=EN-US style="font-size:9.0pt;">26,420</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" lang=EN-US style="font-size:9.0pt;">485</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" lang=EN-US style="font-size:9.0pt;">1.83% </font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">Loans and advances to customers</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">378,046</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" lang=EN-US style="font-size:9.0pt;">23,946</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" lang=EN-US style="font-size:9.0pt;">6.33% </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" lang=EN-US style="font-size:9.0pt;">378,996</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" lang=EN-US style="font-size:9.0pt;">22,804</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" lang=EN-US style="font-size:9.0pt;">6.02% </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" lang=EN-US style="font-size:9.0pt;">407,153</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" lang=EN-US style="font-size:9.0pt;">23,261</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" lang=EN-US style="font-size:9.0pt;">5.71% </font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#160;&#160;&#160; In euros</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">180,028</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" lang=EN-US style="font-size:9.0pt;">3,372</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" lang=EN-US style="font-size:9.0pt;">1.87% </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" lang=EN-US style="font-size:9.0pt;">181,668</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" lang=EN-US style="font-size:9.0pt;">3,381</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" lang=EN-US style="font-size:9.0pt;">1.86% </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" lang=EN-US style="font-size:9.0pt;">196,893</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" lang=EN-US style="font-size:9.0pt;">3,449</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" lang=EN-US style="font-size:9.0pt;">1.75% </font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=30% 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Domestic</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 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" lang=EN-US style="font-size:8.0pt;">171,412</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">3,344</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1.95% </font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">172,561</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">3,276</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1.90% </font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">187,281</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">3,377</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1.80% </font></i></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=30% 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Foreign</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 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" lang=EN-US style="font-size:8.0pt;">8,617</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">28</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">0.32% </font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">9,107</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">105</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1.16% </font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">9,612</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">72</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">0.75% </font></i></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#160;&#160;&#160; In other currency</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">198,018</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" lang=EN-US style="font-size:9.0pt;">20,575</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" lang=EN-US style="font-size:9.0pt;">10.39% </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" lang=EN-US style="font-size:9.0pt;">197,328</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" lang=EN-US style="font-size:9.0pt;">19,423</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">9.84% </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" lang=EN-US style="font-size:8.0pt;">210,261</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" lang=EN-US style="font-size:9.0pt;">19,812</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" lang=EN-US style="font-size:9.0pt;">9.42% </font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=30% 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Domestic</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 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" lang=EN-US style="font-size:8.0pt;">18,622</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">601</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3.23% </font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">14,825</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">511</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3.45% </font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">15,329</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">403</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2.63% </font></i></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=30% 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Foreign</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 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" lang=EN-US style="font-size:8.0pt;">179,397</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">19,973</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">11.13% </font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">182,503</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">18,912</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">10.36% </font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">194,932</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">19,409</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">9.96% </font></i></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Other assets(2)</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">45,954</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">327</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">0.71%</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">46,343</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">270</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">0.58%</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">48,872</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">485</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">0.99%</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Total average assets (3)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:8.0pt;">693,750</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:8.0pt;">31,061</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">4.48%</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:8.0pt;">678,893</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% 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" lang=EN-US style="font-size:8.0pt;">29,831</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% 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" lang=EN-US style="font-size:9.0pt;">4.39%</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:8.0pt;">704,471</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% 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" lang=EN-US style="font-size:8.0pt;">29,296</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">4.16%</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(1)&#160;&#160; Rates have been presented on a non-taxable equivalent
basis.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(2)&#160;&#160; Includes &#8220;Derivatives - Hedge accounting&#8221;, &#8220;Fair value
changes of the hedged items in portfolio hedges of interest rate risk&#8221;, &#8220;Joint
ventures and associates&#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:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(3)&#160;&#160; Foreign activity
represented 44.55% of the total average assets for the year ended December 31,
2019, 45.28% for the year ended December 31, 2018 and 46.99% for the year ended
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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">66</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_72"></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 title="F_20F_SMSR_4E1.2" 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=9 nowrap valign=bottom 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" lang=EN-US style="font-size:8.0pt;">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=30% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 valign=bottom width=25% 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" lang=EN-US style="font-size:8.0pt;">Year Ended
  December 31, 2019</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" lang=EN-US style="font-size:8.0pt;">Year Ended
  December 31, 2018</font></b></font></p>
  </td>
 <td colspan=3 valign=bottom width=22% 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" lang=EN-US style="font-size:8.0pt;">Year Ended
  December 31, 2017</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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="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" lang=EN-US style="font-size:8.0pt;">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: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" lang=EN-US style="font-size:8.0pt;">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: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" lang=EN-US style="font-size:8.0pt;">Average Yield (1)</font></b></font></p>
  </td>
 <td width=8% style="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" lang=EN-US style="font-size:8.0pt;">Average Balance</font></b></font></p>
  </td>
 <td width=7% style="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" lang=EN-US style="font-size:8.0pt;">Interest</font></b></font></p>
  </td>
 <td width=8% style="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" lang=EN-US style="font-size:8.0pt;">Average Yield (1)</font></b></font></p>
  </td>
 <td width=7% style="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" lang=EN-US style="font-size:8.0pt;">Average Balance</font></b></font></p>
  </td>
 <td width=7% style="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" lang=EN-US style="font-size:8.0pt;">Interest</font></b></font></p>
  </td>
 <td width=8% style="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" lang=EN-US style="font-size:8.0pt;">Average Yield (1)</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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=9 nowrap valign=bottom 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" lang=EN-US style="font-size:8.0pt;">(In Millions of
  Euros, Except Percentages)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=30% 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=EN-US style="font-size:9.0pt;">Liabilities</font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td valign=bottom width=30% 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" lang=EN-US style="font-size:9.0pt;">Deposits from central banks and credit
  institutions</font></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">61,285</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" lang=EN-US style="font-size:9.0pt;">2,123</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" lang=EN-US style="font-size:9.0pt;">3.46% </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" lang=EN-US style="font-size:9.0pt;">65,044</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">3.37% </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" lang=EN-US style="font-size:9.0pt;">90,619</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" lang=EN-US style="font-size:9.0pt;">2,212</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" lang=EN-US style="font-size:9.0pt;">2.44% </font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Customer deposits </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">376,057</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" lang=EN-US style="font-size:9.0pt;">6,984</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" lang=EN-US style="font-size:9.0pt;">1.86% </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" lang=EN-US style="font-size:8.0pt;">370,078</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1.77% </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" lang=EN-US style="font-size:9.0pt;">392,057</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" lang=EN-US style="font-size:9.0pt;">7,007</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" lang=EN-US style="font-size:9.0pt;">1.79% </font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#160;&#160;&#160; In euros</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">183,316</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" lang=EN-US style="font-size:9.0pt;">236</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" lang=EN-US style="font-size:9.0pt;">0.13% </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" lang=EN-US style="font-size:9.0pt;">178,370</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" lang=EN-US style="font-size:9.0pt;">337</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" lang=EN-US style="font-size:9.0pt;">0.19% </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" lang=EN-US style="font-size:9.0pt;">186,261</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" lang=EN-US style="font-size:9.0pt;">461</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" lang=EN-US style="font-size:9.0pt;">0.25% </font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=30% 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Domestic</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 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" lang=EN-US style="font-size:8.0pt;">174,301</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">230</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.13% </font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">169,163</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">323</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.19% </font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">176,429</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">447</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.25% </font></i></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=30% 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Foreign</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 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" lang=EN-US style="font-size:8.0pt;">9,015</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">7</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.07% </font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">9,206</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">14</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.16% </font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">9,832</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">14</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.14% </font></i></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#160;&#160;&#160; In other currency</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">192,741</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" lang=EN-US style="font-size:9.0pt;">6,748</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" lang=EN-US style="font-size:9.0pt;">3.50% </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" lang=EN-US style="font-size:8.0pt;">191,709</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" lang=EN-US style="font-size:9.0pt;">6,222</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" lang=EN-US style="font-size:9.0pt;">3.25% </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" lang=EN-US style="font-size:9.0pt;">205,796</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" lang=EN-US style="font-size:9.0pt;">6,546</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" lang=EN-US style="font-size:9.0pt;">3.18% </font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=30% 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Domestic</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 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" lang=EN-US style="font-size:8.0pt;">9,505</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">178</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1.87% </font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">10,738</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">130</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1.21% </font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">12,076</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">95</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">0.78% </font></i></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=30% 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Foreign</font></i></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 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" lang=EN-US style="font-size:8.0pt;">183,236</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">6,571</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">3.59% </font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">180,971</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">6,092</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">3.37% </font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">193,720</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">6,451</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">3.33% </font></i></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Debt certificates </font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">77,438</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" lang=EN-US style="font-size:9.0pt;">1,884</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" lang=EN-US style="font-size:9.0pt;">2.43% </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" lang=EN-US style="font-size:9.0pt;">75,927</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" lang=EN-US style="font-size:9.0pt;">1,753</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" lang=EN-US style="font-size:9.0pt;">2.31% </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" lang=EN-US style="font-size:9.0pt;">84,221</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" lang=EN-US style="font-size:9.0pt;">1,631</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" lang=EN-US style="font-size:9.0pt;">1.94% </font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Other liabilities (2)</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">124,006</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" lang=EN-US style="font-size:9.0pt;">1,868</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" lang=EN-US style="font-size:9.0pt;">1.51% </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" lang=EN-US style="font-size:9.0pt;">115,638</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" lang=EN-US style="font-size:9.0pt;">1,735</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" lang=EN-US style="font-size:9.0pt;">1.50% </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" lang=EN-US style="font-size:9.0pt;">82,699</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" lang=EN-US style="font-size:9.0pt;">687</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" lang=EN-US style="font-size:9.0pt;">0.83% </font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Total average liabilities</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">638,786</font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">12,859</font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2.01% </font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">626,688</font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">12,239</font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1.95% </font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">649,597</font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">11,537</font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1.78% </font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Equity</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">54,964</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" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US style="font-size:9.0pt;">52,206</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" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US style="font-size:9.0pt;">54,874</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" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Total average liabilities and equity (3)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border-bottom:double black 2.25pt;border-left:none;border-right:none;border-top: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" lang=EN-US style="font-size:8.0pt;">693,750</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border-bottom:double black 2.25pt;border-left:none;border-right:none;border-top: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" lang=EN-US style="font-size:9.0pt;">12,859</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border-bottom:double black 2.25pt;border-left:none;border-right:none;border-top: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" lang=EN-US style="font-size:9.0pt;">1.85%</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border-bottom:double black 2.25pt;border-left:none;border-right:none;border-top: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" lang=EN-US style="font-size:8.0pt;">678,893</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border-bottom:double black 2.25pt;border-left:none;border-right:none;border-top: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" lang=EN-US style="font-size:9.0pt;">12,239</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border-bottom:double black 2.25pt;border-left:none;border-right:none;border-top: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" lang=EN-US style="font-size:9.0pt;">1.80%</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border-bottom:double black 2.25pt;border-left:none;border-right:none;border-top: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" lang=EN-US style="font-size:8.0pt;">704,471</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="border-bottom:double black 2.25pt;border-left:none;border-right:none;border-top: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" lang=EN-US style="font-size:8.0pt;">11,537</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border-bottom:double black 2.25pt;border-left:none;border-right:none;border-top: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" lang=EN-US style="font-size:9.0pt;">1.64% </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(1)&#160;&#160; Rates have been presented on a non-taxable equivalent
basis.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(2)&#160; &#160;Includes &#8220;Financial liabilities held for trading&#8221;, &#8220;Derivatives
- Hedge accounting&#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:11.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(3)&#160; &#160;Foreign activity represented
46.65% of the total average liabilities for the year ended December 31, 2019,
47.54% for the year ended December 31, 2018 and 46.99% 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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">67</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_73"></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-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;">Changes in Net Interest Income-Volume and Rate
Analysis</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 tables
allocate changes in our net interest income between changes in volume and
changes in rate for the year ended December 31, 2019 compared with the year
ended December 31, 2018, and the year ended December 31, 2018 compared with the
year ended December 31, 2017. 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 such
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 title="F_20F_SMSR_4E2.1" 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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">2019 / 2018</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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">Increase
  (Decrease) Due to Changes in</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=46% 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=EN-US 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:12.75pt;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=EN-US 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:12.75pt;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=EN-US 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:12.75pt;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=EN-US style="font-size:8.0pt;">Net Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=46% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 nowrap valign=bottom width=54% 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" lang=EN-US 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=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" lang=EN-US style="font-size:9.0pt;">Interest income</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% 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=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% 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=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% 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=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=46% 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" lang=EN-US style="font-size:9.0pt;">Cash and balances with central banks</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">11</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">111</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">121</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=46% 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" lang=EN-US style="font-size:9.0pt;">Securities portfolio and derivatives</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">206</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(455)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(249)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=46% 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" lang=EN-US style="font-size:9.0pt;">Loans and advances to central banks</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(20)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">29</font></font></p>
  </td>
 <td nowrap valign=bottom 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">9</font></i></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=46% 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" lang=EN-US style="font-size:9.0pt;">Loans and advances to credit institutions</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">175</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(25)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">150</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=46% 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" lang=EN-US style="font-size:9.0pt;">Loans and advances to customers</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(57)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">1,199</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">1,142</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=46% 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" lang=EN-US style="font-size:9.0pt;">&#160;&#160; In euros</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(31)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">21</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(10)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=46% 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Domestic</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(22)</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">90</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">68</font></i></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=46% 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Foreign</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(9)</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(69)</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(78)</font></i></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=46% 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" lang=EN-US style="font-size:9.0pt;">&#160;&#160; In other currencies</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">68</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">1,084</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">1,152</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=46% 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Domestic</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">131</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(41)</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">90</font></i></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=46% 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Foreign</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(63)</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1,125</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1,062</font></i></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=46% 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" lang=EN-US style="font-size:9.0pt;">Other assets</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(2)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">60</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">58</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=46% 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" lang=EN-US style="font-size:9.0pt;">Total income </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border-bottom:double black 2.25pt;border-left:none;border-right:none;border-top: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" lang=EN-US style="font-size:9.0pt;">1,230</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=46% 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" lang=EN-US style="font-size:9.0pt;">Interest expense</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=46% 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" lang=EN-US style="font-size:9.0pt;">Deposits from central banks and credit
  institutions</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(127)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">57</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(69)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=46% 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" lang=EN-US style="font-size:9.0pt;">Customer deposits </font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">106</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">320</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">426</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=46% 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" lang=EN-US style="font-size:9.0pt;">&#160;&#160; In euros</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">9</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(110)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(101)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=46% 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Domestic</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">10</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(103)</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(93)</font></i></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=46% 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Foreign</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1)</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(7)</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(8)</font></i></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=46% 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" lang=EN-US style="font-size:9.0pt;">&#160;&#160; In other currencies</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">34</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">493</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">526</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=46% 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Domestic</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(15)</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">62</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">47</font></i></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=46% 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Foreign</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">48</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">430</font></i></font></p>
  </td>
 <td nowrap valign=bottom 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">479</font></i></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=46% 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" lang=EN-US style="font-size:9.0pt;">Debt certificates </font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">35</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">96</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">131</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=46% 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" lang=EN-US style="font-size:9.0pt;">Other liabilities</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">126</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">7</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">133</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=46% 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" lang=EN-US style="font-size:9.0pt;">Total expense</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="border-bottom:double black 2.25pt;border-left:none;border-right:none;border-top: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" lang=EN-US style="font-size:9.0pt;">620</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" lang=EN-US 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 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-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="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=EN-US style="font-size:9.0pt;">&nbsp;</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" lang=EN-US style="font-size:9.0pt;">611</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(1)&#160;&#160; 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:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(2)&#160;&#160; 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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">68</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_74"></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 title="F_20F_SMSR_4E2.2" 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(265)</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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">165</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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(101)</font></i></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" lang=EN-US 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1)</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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">34</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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">33</font></i></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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(13)</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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">121</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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">108</font></i></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" lang=EN-US 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1,205)</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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">708</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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(497)</font></i></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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Total income </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(18)</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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(106)</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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(125)</font></i></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" lang=EN-US 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1)</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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">2</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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1</font></i></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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(10)</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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">46</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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">36</font></i></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=46% 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Foreign</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(438)</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">78</font></i></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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(360)</font></i></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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Total expense</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</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" lang=EN-US 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" lang=EN-US 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 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-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="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=EN-US style="font-size:9.0pt;">&nbsp;</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" lang=EN-US style="font-size:9.0pt;">(167)</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(1)&#160;&#160; 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:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(2)&#160;&#160; 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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">69</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_75"></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-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 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;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 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 title="F_20F_SMSR_4E3" 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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">December 31,</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=48% 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" lang=EN-US 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:15.75pt;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=EN-US style="font-size:8.0pt;">2019</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:15.75pt;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=EN-US style="font-size:8.0pt;">2018</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:15.75pt;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=EN-US style="font-size:8.0pt;">2017</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">647,796</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" lang=EN-US style="font-size:9.0pt;">632,501</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" lang=EN-US style="font-size:9.0pt;">655,599</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">4.8%</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" lang=EN-US style="font-size:9.0pt;">4.7%</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" lang=EN-US style="font-size:9.0pt;">4.5%</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">4.5%</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" lang=EN-US style="font-size:9.0pt;">4.4%</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" lang=EN-US style="font-size:9.0pt;">4.2%</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">2.8%</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" lang=EN-US style="font-size:9.0pt;">2.7%</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">2.5%</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">2.0%</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td valign=bottom 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Spread (4) </font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="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" lang=EN-US style="font-size:9.0pt;">2.3%</font></font></p>
  </td>
 <td nowrap valign=bottom width=18% style="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" lang=EN-US style="font-size:9.0pt;">2.3%</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="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" lang=EN-US style="font-size:9.0pt;">2.4%</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(1)&#160;&#160; &#8220;Gross yield&#8221; represents total interest income divided
by average interest earning assets.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(2)&#160;&#160; &#8220;Net yield&#8221; represents total interest income divided
by total average assets.</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(3)&#160;&#160; &#8220;Net interest margin&#8221; represents net interest income
as percentage of average interest earning assets.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(4)&#160;&#160; Spread is the difference
between &#8220;Gross yield&#8221; and the &#8220;Average effective rate paid on interest-bearing
liabilities&#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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">70</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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-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;">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, 2019, interbank deposits
(excluding deposits with central banks) represented 5.0% of our total assets.
Of such interbank deposits, 16.4% were held outside of Spain and 83.6% 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>

<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:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2019, 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;130,686 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
18.7% of our total assets. &#8364;27,625 million, or 21.1%, of our securities
portfolio consisted of Spanish Treasury bonds and Treasury bills. </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The average yield during 2019 on the investment
securities that BBVA held was 3.8%, compared with an average yield of
approximately 6.0% earned on loans and advances during 2019. See Notes 10 and
13 to our Consolidated Financial Statements 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;">The first table in
Note 13.3 to our Consolidated Financial Statements sets forth the fair value
and the amortized cost of our debt securities recorded under</font></font><font color=#02A5A5 style="border:none;"><font color=#02A5A5 face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;"> &nbsp;</font></font><font style="border:none;"><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; as of December 31, 2019 and 2018. The second table in
Note 13.3 to our Consolidated Financial Statements shows our debt securities
recorded, as of December 31, 2017, under &#8220;Available-for-sale financial assets&#8221;.
See Note 2.2.1 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: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;">Note 14.2 to our
Consolidated Financial Statements sets forth the fair value and the amortized
cost of our debt securities recorded under</font></font><font color=#02A5A5 style="border:none;"><font color=#02A5A5 face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;"> &nbsp;</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,
2019 and 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;">This information is
not provided for debt securities recorded under &#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; since the amortized costs and fair values of these items are the same.
See Note 8 to our Consolidated Financial Statements.</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 third table in
Note 13.3 to our Consolidated Financial Statements shows the fair value of debt
securities recorded, as of December 31, 2019 and 2018, under &#8220;Financial assets
at fair value through other comprehensive income&#8221; and, as of December 31, 2017,
under &#8220;Available-for-sale financial assets&#8221;, by rating categories defined by
external rating agencies. The second table in Note 14.2 to our Consolidated
Financial Statements shows the fair value of debt securities recorded, as of
December 31, 2019 and 2018, under &#8220;Financial assets at amortized cost&#8221;, by
rating categories defined by external rating agencies.</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;">Readers are directed
to the tables and Notes referred to above for information regarding our
securities portfolio.</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 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>

<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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">71</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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: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 analyzes the maturities of
our debt securities recorded under &#8220;Financial assets at fair value through
other comprehensive income&#8221; and &#8220;Financial assets at amortized cost&#8221;, by type
and geographical area, as of December 31, 2019.</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_4E424" 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">Maturity After One
  Year to Five Years</font></b></font></p>
  </td>
 <td colspan=2 width=14% 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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">Maturity after 10
  Years</font></b></font></p>
  </td>
 <td width=10% 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" lang=EN-US style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td valign=bottom width=30% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% 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" lang=EN-US style="font-size:8.0pt;">Amount</font></b></font></p>
  </td>
 <td width=8% 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: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" lang=EN-US style="font-size:8.0pt;">Yield % (1)</font></b></font></p>
  </td>
 <td nowrap width=7% 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" lang=EN-US style="font-size:8.0pt;">Amount</font></b></font></p>
  </td>
 <td width=8% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.5pt;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" lang=EN-US style="font-size:8.0pt;">Yield %&#160; (1)</font></b></font></p>
  </td>
 <td nowrap width=7% 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" lang=EN-US style="font-size:8.0pt;">Amount</font></b></font></p>
  </td>
 <td width=7% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.5pt;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" lang=EN-US style="font-size:8.0pt;">Yield %&#160; (1)</font></b></font></p>
  </td>
 <td nowrap width=8% 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" lang=EN-US style="font-size:8.0pt;">Amount</font></b></font></p>
  </td>
 <td width=7% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.5pt;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" lang=EN-US style="font-size:8.0pt;">Yield %&#160; (1)</font></b></font></p>
  </td>
 <td nowrap width=10% 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">DEBT SECURITIES</font></b></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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">AT FAIR VALUE THROUGH OTHER COMPREHENSIVE
  INCOME PORTFOLIO</font></b></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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">Domestic</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</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=EN-US 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" lang=EN-US style="font-size:8.0pt;">Spanish government and other government
  agencies debt securities</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" lang=EN-US style="font-size:9.0pt;">596</font></font></p>
  </td>
 <td valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">1.68</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% 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" lang=EN-US style="font-size:9.0pt;">12,537</font></font></p>
  </td>
 <td valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">1.11</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% 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" lang=EN-US style="font-size:9.0pt;">5,660</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" lang=EN-US style="font-size:9.0pt;">4.11</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" lang=EN-US style="font-size:9.0pt;">2,757</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" lang=EN-US style="font-size:9.0pt;">3.62</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">21,550</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" lang=EN-US style="font-size:8.0pt;">Other debt securities</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">411</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" lang=EN-US style="font-size:9.0pt;">1.87</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% 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" lang=EN-US style="font-size:9.0pt;">1,096</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" lang=EN-US style="font-size:9.0pt;">2.16</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% 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" lang=EN-US style="font-size:9.0pt;">322</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" lang=EN-US style="font-size:9.0pt;">3.50</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">143</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" lang=EN-US style="font-size:9.0pt;">5.83</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">1,971</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" lang=EN-US style="font-size:8.0pt;">Total Domestic</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1,007</font></b></font></p>
  </td>
 <td nowrap width=8% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1.76</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">13,633</font></b></font></p>
  </td>
 <td nowrap width=8% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1.19</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">5,982</font></b></font></p>
  </td>
 <td nowrap width=7% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">4.08</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2,900</font></b></font></p>
  </td>
 <td nowrap width=7% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3.73</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">23,521</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" lang=EN-US style="font-size:8.0pt;">Foreign</font></b></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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">Mexico</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" lang=EN-US style="font-size:9.0pt;">942</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" lang=EN-US style="font-size:9.0pt;">6.15</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" lang=EN-US style="font-size:9.0pt;">4,015</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" lang=EN-US style="font-size:9.0pt;">4.97</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" lang=EN-US style="font-size:9.0pt;">2,782</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" lang=EN-US style="font-size:9.0pt;">6.37</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" lang=EN-US style="font-size:9.0pt;">47</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" lang=EN-US style="font-size:9.0pt;">3.27</font></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">7,786</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" lang=EN-US style="font-size:8.0pt;">Mexican Government and other government agency
  debt securities</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" lang=EN-US style="font-size:9.0pt;">683</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" lang=EN-US style="font-size:9.0pt;">6.75</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" lang=EN-US style="font-size:9.0pt;">3,601</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" lang=EN-US style="font-size:9.0pt;">4.96</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" lang=EN-US style="font-size:9.0pt;">2,558</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" lang=EN-US style="font-size:9.0pt;">6.45</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" lang=EN-US style="font-size:9.0pt;">26</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" lang=EN-US style="font-size:9.0pt;">5.29</font></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">6,868</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" lang=EN-US style="font-size:8.0pt;">Other debt securities </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" lang=EN-US style="font-size:9.0pt;">259</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" lang=EN-US style="font-size:9.0pt;">4.58</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" lang=EN-US style="font-size:9.0pt;">414</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" lang=EN-US style="font-size:9.0pt;">5.02</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" lang=EN-US style="font-size:9.0pt;">224</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" lang=EN-US style="font-size:9.0pt;">5.41</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" lang=EN-US style="font-size:9.0pt;">21</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" lang=EN-US style="font-size:9.0pt;">0.77</font></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">918</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" lang=EN-US style="font-size:8.0pt;">The United States</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" lang=EN-US style="font-size:9.0pt;">1,251</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" lang=EN-US style="font-size:9.0pt;">1.32</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" lang=EN-US style="font-size:9.0pt;">5,368</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" lang=EN-US style="font-size:9.0pt;">1.80</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" lang=EN-US style="font-size:9.0pt;">543</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" lang=EN-US style="font-size:9.0pt;">3.74</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" lang=EN-US style="font-size:9.0pt;">4,231</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" lang=EN-US style="font-size:9.0pt;">2.08</font></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">11,393</font></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td valign=bottom width=30% style="background:white;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" lang=EN-US style="font-size:8.0pt;">U.S. Treasury and other government agency debt
  securities</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">950</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">0.99</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">4,667</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">1.70</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">1</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">3.20</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">7</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">1.86</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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" lang=EN-US style="font-size:9.0pt;">5,624</font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=bottom width=30% style="background:white;height:24.0pt;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=EN-US style="font-size:8.0pt;">States and political subdivisions debt
  securities</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:24.0pt;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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:24.0pt;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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:24.0pt;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" lang=EN-US style="font-size:9.0pt;">9</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:24.0pt;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" lang=EN-US style="font-size:9.0pt;">3.16</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:24.0pt;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" lang=EN-US style="font-size:9.0pt;">42</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:24.0pt;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" lang=EN-US style="font-size:9.0pt;">2.50</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:24.0pt;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" lang=EN-US style="font-size:9.0pt;">2,925</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:24.0pt;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" lang=EN-US style="font-size:9.0pt;">1.86</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;height:24.0pt;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" lang=EN-US style="font-size:9.0pt;">2,975</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" lang=EN-US style="font-size:8.0pt;">Other debt securities</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" lang=EN-US style="font-size:9.0pt;">302</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" lang=EN-US style="font-size:9.0pt;">2.37</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" lang=EN-US style="font-size:9.0pt;">692</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" lang=EN-US style="font-size:9.0pt;">2.46</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" lang=EN-US style="font-size:9.0pt;">500</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" lang=EN-US style="font-size:9.0pt;">3.84</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" lang=EN-US style="font-size:9.0pt;">1,300</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" lang=EN-US style="font-size:9.0pt;">2.56</font></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">2,794</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" lang=EN-US style="font-size:8.0pt;">Turkey</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" lang=EN-US style="font-size:9.0pt;">761</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" lang=EN-US style="font-size:9.0pt;">14.63</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" lang=EN-US style="font-size:9.0pt;">1,992</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" lang=EN-US style="font-size:9.0pt;">14.13</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" lang=EN-US style="font-size:9.0pt;">874</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" lang=EN-US style="font-size:9.0pt;">11.51</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" lang=EN-US style="font-size:9.0pt;">87</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" lang=EN-US style="font-size:9.0pt;">6.81</font></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">3,713</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td valign=top width=30% style="height:22.5pt;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" lang=EN-US style="font-size:8.0pt;">Turkey Government and other government
  agencies debt securities</font></font></p>
  </td>
 <td valign=bottom width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">761</font></font></p>
  </td>
 <td valign=bottom width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">14.63</font></font></p>
  </td>
 <td valign=bottom width=7% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1,992</font></font></p>
  </td>
 <td valign=bottom width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">14.13</font></font></p>
  </td>
 <td valign=bottom width=7% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">874</font></font></p>
  </td>
 <td valign=bottom width=7% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">11.51</font></font></p>
  </td>
 <td valign=bottom width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">87</font></font></p>
  </td>
 <td valign=bottom width=7% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">6.81</font></font></p>
  </td>
 <td valign=bottom width=10% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3,713</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" lang=EN-US style="font-size:8.0pt;">Other debt securities </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US style="font-size:8.0pt;">Other countries</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" lang=EN-US style="font-size:9.0pt;">2,006</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" lang=EN-US style="font-size:9.0pt;">15.20</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" lang=EN-US style="font-size:9.0pt;">6,081</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" lang=EN-US style="font-size:9.0pt;">1.59</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" lang=EN-US style="font-size:9.0pt;">2,315</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" lang=EN-US style="font-size:9.0pt;">2.94</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" lang=EN-US style="font-size:9.0pt;">1,916</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" lang=EN-US style="font-size:9.0pt;">3.80</font></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">12,318</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" lang=EN-US style="font-size:8.0pt;">Securities of other foreign governments(2)</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" lang=EN-US style="font-size:9.0pt;">623</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" lang=EN-US style="font-size:9.0pt;">43.63</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" lang=EN-US style="font-size:9.0pt;">3,899</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" lang=EN-US style="font-size:9.0pt;">1.01</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" lang=EN-US style="font-size:9.0pt;">1,575</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" lang=EN-US style="font-size:9.0pt;">2.16</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" lang=EN-US style="font-size:9.0pt;">1,172</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" lang=EN-US style="font-size:9.0pt;">4.16</font></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">7,269</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" lang=EN-US style="font-size:8.0pt;">Other debt securities of other countries</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">1,383</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" lang=EN-US style="font-size:9.0pt;">2.40</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">2,182</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" lang=EN-US style="font-size:9.0pt;">2.64</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">739</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" lang=EN-US style="font-size:9.0pt;">4.60</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">745</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" lang=EN-US style="font-size:9.0pt;">3.23</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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" lang=EN-US style="font-size:9.0pt;">5,049</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap 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" lang=EN-US style="font-size:8.0pt;">Total Foreign</font></b></font></p>
  </td>
 <td nowrap width=8% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">4,960</font></b></font></p>
  </td>
 <td nowrap width=8% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">9.89</font></b></font></p>
  </td>
 <td nowrap width=7% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">17,455</font></b></font></p>
  </td>
 <td nowrap width=8% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3.86</font></b></font></p>
  </td>
 <td nowrap width=7% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">6,513</font></b></font></p>
  </td>
 <td nowrap width=7% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">5.62</font></b></font></p>
  </td>
 <td nowrap width=8% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">6,281</font></b></font></p>
  </td>
 <td nowrap width=7% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2.68</font></b></font></p>
  </td>
 <td nowrap width=10% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">35,210</font></b></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td valign=bottom width=30% style="background:white;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" lang=EN-US style="font-size:8.0pt;">TOTAL AT FAIR VALUE THROUGH OTHER
  COMPREHENSIVE INCOME</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">5,967</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">8.52</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">31,088</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">2.69</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">12,495</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">4.88</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">9,181</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">3.01</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="background:white;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" lang=EN-US style="font-size:9.0pt;">58,731</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td 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" lang=EN-US style="font-size:8.0pt;">AT AMORTIZED COST PORTFOLIO</font></b></font></p>
  </td>
 <td valign=bottom width=8% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=8% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=7% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=8% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=7% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=7% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=8% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=7% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">Domestic</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US 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 align=right style="border:none;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-US 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 align=right style="border:none;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-US 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 align=right style="border:none;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-US 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 align=right style="border:none;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-US 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 align=right style="border:none;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-US 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 align=right style="border:none;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-US 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 align=right style="border:none;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-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td valign=bottom width=30% style="background:white;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" lang=EN-US style="font-size:8.0pt;">Spanish government and other government
  agencies debt securities</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">1,459</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">4.00</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">489</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">2.43</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">7,458</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">1.40</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">3,349</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">1.47</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="background:white;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" lang=EN-US style="font-size:9.0pt;">12,755</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" lang=EN-US style="font-size:8.0pt;">Other debt securities</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" lang=EN-US style="font-size:9.0pt;">4,216</font></font></p>
  </td>
 <td valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">0.02</font></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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">493</font></font></p>
  </td>
 <td valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">0.59</font></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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">119</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" lang=EN-US style="font-size:9.0pt;">1.14</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" lang=EN-US style="font-size:9.0pt;">101</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" lang=EN-US style="font-size:9.0pt;">0.03</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">4,929</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" lang=EN-US style="font-size:8.0pt;">Total Domestic</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" lang=EN-US style="font-size:9.0pt;">5,675</font></b></font></p>
  </td>
 <td nowrap width=8% 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" lang=EN-US style="font-size:9.0pt;">1.04</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" lang=EN-US style="font-size:9.0pt;">982</font></b></font></p>
  </td>
 <td nowrap width=8% 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" lang=EN-US style="font-size:9.0pt;">1.51</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" lang=EN-US style="font-size:9.0pt;">7,577</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" lang=EN-US style="font-size:9.0pt;">1.40</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" lang=EN-US style="font-size:9.0pt;">3,450</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" lang=EN-US style="font-size:9.0pt;">1.43</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">17,684</font></b></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" lang=EN-US style="font-size:8.0pt;">Foreign</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;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=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;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=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="background:white;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=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="background:white;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=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="background:white;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" lang=EN-US style="font-size:9.0pt;">&nbsp;</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 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" lang=EN-US style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US style="font-size:9.0pt;">1,592</font></font></p>
  </td>
 <td valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">7.17</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" lang=EN-US style="font-size:9.0pt;">216</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" lang=EN-US style="font-size:9.0pt;">7.42</font></font></p>
  </td>
 <td valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">4,567</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" lang=EN-US style="font-size:9.0pt;">3.59</font></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">6,374</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=30% style="background:white;height:24.75pt;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" lang=EN-US style="font-size:8.0pt;">Mexican Government and other government agency
  debt securities</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:24.75pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:24.75pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:24.75pt;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-US style="font-size:9.0pt;">1,592</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:24.75pt;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-US style="font-size:9.0pt;">7.17</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:24.75pt;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-US style="font-size:9.0pt;">216</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:24.75pt;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-US style="font-size:9.0pt;">7.42</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;height:24.75pt;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-US style="font-size:9.0pt;">3,768</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;height:24.75pt;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-US style="font-size:9.0pt;">3.59</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;height:24.75pt;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-US style="font-size:9.0pt;">5,576</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" lang=EN-US style="font-size:8.0pt;">Other debt securities </font></font></p>
  </td>
 <td valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">798</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" lang=EN-US style="font-size:9.0pt;">3.59</font></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">798</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" lang=EN-US style="font-size:8.0pt;">The United States</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" lang=EN-US style="font-size:9.0pt;">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" lang=EN-US style="font-size:9.0pt;">4.17</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" lang=EN-US style="font-size:9.0pt;">1,256</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" lang=EN-US style="font-size:9.0pt;">2.73</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" lang=EN-US style="font-size:9.0pt;">283</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" lang=EN-US style="font-size:9.0pt;">3.00</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" lang=EN-US style="font-size:9.0pt;">4,519</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" lang=EN-US style="font-size:9.0pt;">2.77</font></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">6,126</font></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td valign=bottom width=30% style="background:white;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" lang=EN-US style="font-size:8.0pt;">U.S. Treasury and
  other government agency debt securities</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">1,158</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">2.71</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">2</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">2.71</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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" lang=EN-US style="font-size:9.0pt;">1,160</font></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td valign=bottom width=30% style="background:white;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" lang=EN-US style="font-size:8.0pt;">States and political subdivisions debt
  securities</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">17</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">4.17</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">45</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">3.39</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">29</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">3.33</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">4,439</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">2.78</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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" lang=EN-US style="font-size:9.0pt;">4,530</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" lang=EN-US style="font-size:8.0pt;">Other debt securities</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" lang=EN-US style="font-size:9.0pt;">51</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" lang=EN-US style="font-size:9.0pt;">4.17</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" lang=EN-US style="font-size:9.0pt;">53</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" lang=EN-US style="font-size:9.0pt;">2.72</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" lang=EN-US style="font-size:9.0pt;">252</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" lang=EN-US style="font-size:9.0pt;">2.97</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" lang=EN-US style="font-size:9.0pt;">79</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" lang=EN-US style="font-size:9.0pt;">2.46</font></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">435</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" lang=EN-US style="font-size:8.0pt;">Turkey</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" lang=EN-US style="font-size:9.0pt;">712</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" lang=EN-US style="font-size:9.0pt;">19.03</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" lang=EN-US style="font-size:9.0pt;">1,981</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" lang=EN-US style="font-size:9.0pt;">12.72</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" lang=EN-US style="font-size:9.0pt;">1,200</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" lang=EN-US style="font-size:9.0pt;">16.57</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" lang=EN-US style="font-size:9.0pt;">221</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" lang=EN-US style="font-size:9.0pt;">5.56</font></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">4,113</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td valign=top width=30% style="height:22.5pt;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" lang=EN-US style="font-size:8.0pt;">Turkey Government and other government
  agencies debt securities</font></font></p>
  </td>
 <td valign=bottom width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">712</font></font></p>
  </td>
 <td valign=bottom width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">19.03</font></font></p>
  </td>
 <td valign=bottom width=7% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1,973</font></font></p>
  </td>
 <td valign=bottom width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">12.70</font></font></p>
  </td>
 <td valign=bottom width=7% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1,200</font></font></p>
  </td>
 <td valign=bottom width=7% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">16.57</font></font></p>
  </td>
 <td valign=bottom width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">221</font></font></p>
  </td>
 <td valign=bottom width=7% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">5.56</font></font></p>
  </td>
 <td valign=bottom width=10% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">4,105</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" lang=EN-US style="font-size:8.0pt;">Other debt securities </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">8</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" lang=EN-US style="font-size:9.0pt;">18.10</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">8</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" lang=EN-US style="font-size:8.0pt;">Other countries</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" lang=EN-US style="font-size:9.0pt;">660</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" lang=EN-US style="font-size:9.0pt;">1.55</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" lang=EN-US style="font-size:9.0pt;">457</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" lang=EN-US style="font-size:9.0pt;">1.16</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" lang=EN-US style="font-size:9.0pt;">1,706</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" lang=EN-US style="font-size:9.0pt;">2.09</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" lang=EN-US style="font-size:9.0pt;">1,758</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" lang=EN-US style="font-size:9.0pt;">3.59</font></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">4,581</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" lang=EN-US style="font-size:8.0pt;">Securities of other foreign governments(2)</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" lang=EN-US style="font-size:9.0pt;">13</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" lang=EN-US style="font-size:9.0pt;">0.28</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" lang=EN-US style="font-size:9.0pt;">122</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" lang=EN-US style="font-size:9.0pt;">0.99</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" lang=EN-US style="font-size:9.0pt;">1,622</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" lang=EN-US style="font-size:9.0pt;">2.09</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" lang=EN-US style="font-size:9.0pt;">1,644</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" lang=EN-US style="font-size:9.0pt;">3.53</font></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">3,400</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" lang=EN-US style="font-size:8.0pt;">Other debt securities of other countries</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">647</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" lang=EN-US style="font-size:9.0pt;">1.58</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">336</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" lang=EN-US style="font-size:9.0pt;">1.22</font></font></p>
  </td>
 <td valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">84</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" lang=EN-US style="font-size:9.0pt;">2.16</font></font></p>
  </td>
 <td valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">114</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" lang=EN-US style="font-size:9.0pt;">4.38</font></font></p>
  </td>
 <td valign=bottom width=10% style="background:white;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" lang=EN-US style="font-size:9.0pt;">1,181</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap 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" lang=EN-US style="font-size:8.0pt;">Total Foreign</font></b></font></p>
  </td>
 <td nowrap width=8% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1,440</font></b></font></p>
  </td>
 <td nowrap width=8% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">10.32</font></b></font></p>
  </td>
 <td nowrap width=7% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">5,286</font></b></font></p>
  </td>
 <td nowrap width=8% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">7.68</font></b></font></p>
  </td>
 <td nowrap width=7% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3,404</font></b></font></p>
  </td>
 <td nowrap width=7% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">7.61</font></b></font></p>
  </td>
 <td nowrap width=8% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">11,064</font></b></font></p>
  </td>
 <td nowrap width=7% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3.30</font></b></font></p>
  </td>
 <td nowrap width=10% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">21,194</font></b></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 2.0pt;">
  <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-US style="font-size:8.0pt;">TOTAL AT AMORTIZED COST PORTFOLIO</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">7,115</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">2.92</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">6,268</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">6.71</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">10,981</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">3.32</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">14,514</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">2.85</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="background:white;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" lang=EN-US style="font-size:9.0pt;">38,878</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td valign=bottom width=30% 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" lang=EN-US style="font-size:9.0pt;">TOTAL DEBT SECURITIES</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">13,082</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">5.48</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">37,356</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">3.37</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">23,476</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">4.15</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="background:white;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" lang=EN-US style="font-size:9.0pt;">23,695</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=7% style="background:white;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" lang=EN-US style="font-size:9.0pt;">2.91</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="background:white;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" lang=EN-US style="font-size:9.0pt;">97,609</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td colspan=10 valign=bottom width=100% 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1)&#160;&#160; Rates have been presented on a
  non-taxable equivalent basis.</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" lang=EN-US style="font-size:8.0pt;">(2)&#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>
  <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-US style="font-size:8.0pt;">&nbsp;</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">72</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_78"></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: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;">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, 2019, our total loans and
advances to credit institutions and central banks amounted to &#8364;39,778 million,
or 5.7% of total assets, of which total loans and advances to credit
institutions and central banks at amortized cost amounted to &#8364;17,948 million,
or 2.6% of total assets. Net of our loss allowances, total loans and advances
to credit institutions and central banks at amortized cost amounted to &#8364;17,924
million as of December 31, 2019, or 2.6% of total 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;"><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, 2019, our total loans and
advances to customers amounted to &#8364;408,364 million, or 58.4% of total assets.
Net of our loss allowances, total loans and advances to customers amounted to &#8364;395,962
million as of December 31, 2019, or 56.7% of our total assets. As of December
31, 2019 our total loans and advances to customers in Spain amounted to &#8364;165,032
million. Our total loans and advances to customers outside Spain amounted to &#8364;243,332
million as of December 31, 2019.
</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">73</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_79"></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 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 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 title="F_20F_SMSR_4E431.1" style="border-collapse:collapse;width:100%;">
 <tr style="height:22.5pt;">
  <td nowrap valign=bottom width=24% 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" lang=EN-US 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: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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">2019</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">2015</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">165,032</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">192,227</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">31,483</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">23,327</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">64,395</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">58,677</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">61,455</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">51,842</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">40,230</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">54,252</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">39,091</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">47,862</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">6,677</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">4,735</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">243,332</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">240,695</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" lang=EN-US style="font-size:10.0pt;">Total loans and advances</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" lang=EN-US style="font-size:9.0pt;">408,364</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">432,921</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" lang=EN-US style="font-size:10.0pt;">Loss allowances </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" lang=EN-US style="font-size:9.0pt;">(12,402)</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(18,691)</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" lang=EN-US style="font-size:10.0pt;">Total net lending (1)</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" lang=EN-US style="font-size:9.0pt;">395,962</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">414,231</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1)&#160;&#160; As of December 31, 2019 and 2018, includes
loans and advances to customers included in the following headings: &#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 amortized cost&#8221;, net of loss
allowances. As of December 31, 2017, 2016 and 2015, includes loans and advances
to customers reported as &#8220;Financial assets held for trading&#8221; and &#8220;Loans and
receivables&#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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">74</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_80"></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 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 the country where the branch office that issued the
loan is located:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_4E431.2" 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">2019</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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: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=EN-US style="font-size:8.0pt;">2015</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">14,477</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">20,741</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" lang=EN-US style="font-size:9.0pt;">23,549</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1,224</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1,076</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" lang=EN-US style="font-size:9.0pt;">1,064</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">13,982</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">13,670</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" lang=EN-US style="font-size:9.0pt;">15,079</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">9,567</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">15,179</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" lang=EN-US style="font-size:9.0pt;">18,621</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">16,192</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">13,111</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" lang=EN-US style="font-size:9.0pt;">11,557</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">96,735</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">102,299</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" lang=EN-US style="font-size:9.0pt;">105,157</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">12,855</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">16,415</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" lang=EN-US style="font-size:9.0pt;">17,200</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" lang=EN-US style="font-size:10.0pt;">Total Domestic</font></b></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">165,032</font></b></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">171,361</font></b></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">180,033</font></b></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">182,492</font></b></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">192,227</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">14,840</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">14,132</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" lang=EN-US style="font-size:9.0pt;">15,062</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">2,533</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">3,236</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" lang=EN-US style="font-size:9.0pt;">3,251</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">43,408</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">43,402</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" lang=EN-US style="font-size:9.0pt;">41,834</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">20,814</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">21,822</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" lang=EN-US style="font-size:9.0pt;">20,343</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">41,406</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">33,933</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" lang=EN-US style="font-size:9.0pt;">32,019</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">85,324</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">89,981</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" lang=EN-US style="font-size:9.0pt;">89,132</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">35,007</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">41,630</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" lang=EN-US style="font-size:9.0pt;">39,054</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">243,332</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">248,137</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" lang=EN-US style="font-size:9.0pt;">240,695</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=26% style="height:27.0pt;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" lang=EN-US style="font-size:10.0pt;">Total Loans and Advances </font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:double black 2.25pt;height:27.0pt;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" lang=EN-US style="font-size:9.0pt;">408,364</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:double black 2.25pt;height:27.0pt;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" lang=EN-US 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:27.0pt;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" lang=EN-US 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:27.0pt;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" lang=EN-US style="font-size:9.0pt;">430,629</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:double black 2.25pt;height:27.0pt;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" lang=EN-US style="font-size:9.0pt;">432,921</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" lang=EN-US style="font-size:10.0pt;">Loss allowances </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" lang=EN-US style="font-size:9.0pt;">(12,402)</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(15,974)</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" lang=EN-US style="font-size:9.0pt;">(18,691)</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" lang=EN-US style="font-size:10.0pt;">Total net lending (2)</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" lang=EN-US style="font-size:9.0pt;">395,962</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">414,655</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" lang=EN-US style="font-size:9.0pt;">414,231</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:3.0pt;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:8.0pt;">(1) &#160;&#160;Includes
mortgage loans to households for the acquisition of housing.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:14.2pt;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:8.0pt;">(2)&#160; As of December 31, 2019 and 2018,
includes loans and advances to customers included in the following headings:
&#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 amortized cost&#8221;, net of loss
allowances. As of December 31, 2017, 2016 and 2015, includes loans and advances
to customers reported as &#8220;Financial assets held for trading&#8221; and &#8220;Loans and
receivables&#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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">75</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_81"></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;"><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 loans
and advances to customers as of December 31, 2019, 2018, 2017, 2016 and 2015:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_4E431.3" 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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">As of December 31,</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td nowrap valign=bottom width=29% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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" lang=EN-US style="font-size:8.0pt;">2019</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: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" lang=EN-US 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: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" lang=EN-US 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: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" lang=EN-US 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: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" lang=EN-US style="font-size:8.0pt;">2015</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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">(In Millions of
  Euros)</font></b></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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">191,083</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">204,549</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">204,879</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">209,681</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">395,962</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">414,231</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1) &#160;&#160;As of December 31, 2019 and 2018,
includes loans and advances to customers included in the following headings:
&#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 amortized cost&#8221;, net of loss
allowances. As of December 31, 2017, 2016 and 2015, includes loans and advances
to customers previously reported as financial assets held for trading and loans
and receivables.</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:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of December 31, 2019, total loans and advances by BBVA
and its subsidiaries to associates and jointly controlled companies amounted to
&#8364;1,682 million, compared with &#8364;1,866 million as of December&nbsp;31, 2018.
Loans and advances outstanding to the Spanish government and its agencies
amounted to &#8364;14,477 million, or 3.5% of our total loans and advances to
customers as of December 31, 2019, compared with the &#8364;16,671 million, or 4.2%
of our total loans and advances to customers as of December 31, 2018. 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, 2019</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;17,561</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 4.0% 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, 2019</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>


<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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">76</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_82"></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-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;page-break-after:avoid;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 a breakdown 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, 2019.
The determination of maturities is based on contract terms.</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_4E432.1" style="border-collapse:collapse;width:100%;">
 <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" lang=EN-US 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: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=EN-US style="font-size:10.0pt;">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" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">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" lang=EN-US style="font-size:10.0pt;">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" lang=EN-US style="font-size:10.0pt;">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" lang=EN-US style="font-size:10.0pt;">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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=30% 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" lang=EN-US style="font-size:10.0pt;">Government </font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">4,648</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% 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" lang=EN-US style="font-size:9.0pt;">4,325</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">5,504</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">14,477</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=30% 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" lang=EN-US style="font-size:10.0pt;">Agriculture </font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">361</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% 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" lang=EN-US style="font-size:9.0pt;">452</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">411</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">1,224</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=30% 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" lang=EN-US style="font-size:10.0pt;">Industrial </font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">5,142</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% 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" lang=EN-US style="font-size:9.0pt;">4,683</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">4,158</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">13,982</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=30% 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" lang=EN-US style="font-size:10.0pt;">Real estate and construction </font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">1,443</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% 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" lang=EN-US style="font-size:9.0pt;">2,881</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">5,243</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">9,567</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=30% 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" lang=EN-US style="font-size:10.0pt;">Commercial and financial </font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">8,392</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% 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" lang=EN-US style="font-size:9.0pt;">4,935</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">2,865</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">16,192</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=30% 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" lang=EN-US style="font-size:10.0pt;">Loans to individuals </font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">5,677</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% 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" lang=EN-US style="font-size:9.0pt;">9,261</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">81,797</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">96,735</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=30% 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" lang=EN-US 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: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" lang=EN-US style="font-size:9.0pt;">3,775</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% 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" lang=EN-US style="font-size:9.0pt;">4,895</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">4,185</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">12,855</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" lang=EN-US 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: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" lang=EN-US style="font-size:9.0pt;">29,437</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 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">31,432</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">104,164</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">165,032</font></b></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" lang=EN-US style="font-size:10.0pt;">Foreign</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=30% 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" lang=EN-US style="font-size:10.0pt;">Government </font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">1,674</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% 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" lang=EN-US style="font-size:9.0pt;">2,871</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">10,294</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">14,840</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=30% 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" lang=EN-US style="font-size:10.0pt;">Agriculture </font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">1,345</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% 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" lang=EN-US style="font-size:9.0pt;">833</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">356</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">2,533</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=30% 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" lang=EN-US style="font-size:10.0pt;">Industrial </font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">17,354</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% 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" lang=EN-US style="font-size:9.0pt;">19,081</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">6,972</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">43,408</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=30% 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" lang=EN-US style="font-size:10.0pt;">Real estate and construction </font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">5,346</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% 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" lang=EN-US style="font-size:9.0pt;">10,424</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">5,044</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">20,814</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=30% 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" lang=EN-US style="font-size:10.0pt;">Commercial and financial </font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">25,321</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% 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" lang=EN-US style="font-size:9.0pt;">12,934</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">3,151</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">41,406</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=30% 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" lang=EN-US style="font-size:10.0pt;">Loans to individuals </font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">12,113</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% 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" lang=EN-US style="font-size:9.0pt;">30,375</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">42,836</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">85,324</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=30% 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" lang=EN-US 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: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" lang=EN-US style="font-size:9.0pt;">11,186</font></font></p>
  </td>
 <td nowrap valign=bottom width=19% 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" lang=EN-US style="font-size:9.0pt;">15,307</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">8,513</font></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">35,007</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" lang=EN-US 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: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" lang=EN-US style="font-size:9.0pt;">74,339</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 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">91,826</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">77,167</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">243,332</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td valign=top width=30% 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" lang=EN-US 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: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" lang=EN-US style="font-size:9.0pt;">103,776</font></b></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">123,258</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">181,331</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">408,364</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1) &#160;&#160;Includes loans and advances to
customers included in the following headings: &#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 amortized cost&#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;">The second table in Note 14.3 to our
Consolidated Financial Statements provides a breakdown of our fixed and
variable rate loans which had a maturity of more than one year as of December
31, 2019.
</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">77</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_83"></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-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;">Loss allowances 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:17.85pt;"><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;Financial
instruments&#8221;.</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> For a discussion of accounting standards related to loss
allowances on financial assets and credit loss, see Note 2.2.1 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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">78</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_84"></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
provides information regarding our loan loss reserve and movements of loan
charge-offs and recoveries for the periods indicated. Information as of
December 31, 2019 refers to customers, central banks and credit institutions
and information as of December 31, 2018, 2017, 2016 and 2015 refers to
customers and credit institutions: </font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_4E44" 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 lang=EN-US style="font-size:11.0pt;">&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=center style="border: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-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=4 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" lang=EN-US style="font-size:9.0pt;">As of and for the
  Year Ended December 31,</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.6pt;">
  <td nowrap valign=bottom width=34% style="height:27.6pt;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-US style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:27.6pt;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-US style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:27.6pt;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-US style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:27.6pt;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-US style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:27.6pt;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-US style="font-size:8.0pt;">2016</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:27.6pt;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-US style="font-size:8.0pt;">2015</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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">(In Millions of
  Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=34% 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" lang=EN-US style="font-size:9.0pt;">Loan loss reserve at beginning of period:</font></b></font></p>
  </td>
 <td nowrap width=14% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=14% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=14% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% 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" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Domestic</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" lang=EN-US style="font-size:9.0pt;">5,774</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">9,113</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">9,832</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" lang=EN-US style="font-size:9.0pt;">Foreign</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" lang=EN-US style="font-size:9.0pt;">6,437</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" lang=EN-US style="font-size:9.0pt;">5,550</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" lang=EN-US style="font-size:9.0pt;">6,903</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" lang=EN-US style="font-size:9.0pt;">6,385</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" lang=EN-US style="font-size:9.0pt;">4,441</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" lang=EN-US style="font-size:9.0pt;">First implementation of IFRS 9 </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" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Total loan loss reserve at beginning of period</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" lang=EN-US style="font-size:9.0pt;">12,211</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">16,016</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">14,273</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=34% 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" lang=EN-US style="font-size:9.0pt;">&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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Loans charged off: (1)</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Total domestic</font></font></p>
  </td>
 <td 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" lang=EN-US style="font-size:9.0pt;">(1,006)</font></font></p>
  </td>
 <td 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" lang=EN-US style="font-size:9.0pt;">(2,818)</font></font></p>
  </td>
 <td 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" lang=EN-US style="font-size:9.0pt;">(3,709)</font></font></p>
  </td>
 <td width=12% 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" lang=EN-US style="font-size:9.0pt;">(3,298)</font></font></p>
  </td>
 <td width=12% 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" lang=EN-US style="font-size:9.0pt;">(3,340)</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" lang=EN-US style="font-size:9.0pt;">Total foreign </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" lang=EN-US style="font-size:9.0pt;">(2,250)</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(2,330)</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(1,933)</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" lang=EN-US style="font-size:9.0pt;">Total loans charged off</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" lang=EN-US style="font-size:9.0pt;">(3,256)</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(6,039)</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(5,273)</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Provision for loan losses:</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Domestic </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" lang=EN-US style="font-size:9.0pt;">764</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" lang=EN-US style="font-size:9.0pt;">910</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" lang=EN-US style="font-size:9.0pt;">1,155</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" lang=EN-US style="font-size:9.0pt;">1,095</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" lang=EN-US style="font-size:9.0pt;">1,933</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" lang=EN-US style="font-size:9.0pt;">Foreign </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" lang=EN-US style="font-size:9.0pt;">3,560</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">3,078</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">2,804</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" lang=EN-US style="font-size:9.0pt;">Total provision for loan losses</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" lang=EN-US style="font-size:9.0pt;">4,324</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">4,233</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">4,737</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Acquisition and disposition of subsidiaries
  (2)</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" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td 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" lang=EN-US style="font-size:9.0pt;">(5)</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" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US style="font-size:9.0pt;">6,572</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" lang=EN-US style="font-size:9.0pt;">Effect of foreign currency translation</font></font></p>
  </td>
 <td 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" lang=EN-US style="font-size:9.0pt;">(20)</font></font></p>
  </td>
 <td 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" lang=EN-US style="font-size:9.0pt;">(239)</font></font></p>
  </td>
 <td 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" lang=EN-US style="font-size:9.0pt;">(926)</font></font></p>
  </td>
 <td width=12% 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" lang=EN-US style="font-size:9.0pt;">(601)</font></font></p>
  </td>
 <td width=12% 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" lang=EN-US style="font-size:9.0pt;">(862)</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" lang=EN-US style="font-size:9.0pt;">Other</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" lang=EN-US style="font-size:9.0pt;">(832)</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(495)</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(705)</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" lang=EN-US style="font-size:9.0pt;">Acquisition, foreign currency and others </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" lang=EN-US style="font-size:9.0pt;">(852)</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" lang=EN-US 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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,426)</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" lang=EN-US 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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">5,005</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Loan loss reserve at end of period:</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Domestic</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" lang=EN-US style="font-size:9.0pt;">4,931</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" lang=EN-US style="font-size:9.0pt;">5,774</font></font></p>
  </td>
 <td width=14% 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" lang=EN-US style="font-size:9.0pt;">7,234</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" lang=EN-US style="font-size:9.0pt;">9,113</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" lang=EN-US style="font-size:9.0pt;">12,357</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" lang=EN-US style="font-size:9.0pt;">Foreign</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" lang=EN-US style="font-size:9.0pt;">7,496</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" lang=EN-US 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 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" lang=EN-US style="font-size:9.0pt;">5,550</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">6,385</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=34% 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" lang=EN-US style="font-size:9.0pt;">Total loan loss reserve at end of period </font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:double black 2.25pt;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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">12,427</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:double black 2.25pt;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;"><b><font color=black face="Times New Roman,serif" lang=EN-US 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: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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">12,784</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:double black 2.25pt;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;"><b><font color=black face="Times New Roman,serif" lang=EN-US 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: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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">18,742</font></b></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td valign=bottom width=34% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US 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=14% style="border:none;height:25.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">3.10%</font></b></font></p>
  </td>
 <td valign=bottom width=14% style="border:none;height:25.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">3.19%</font></b></font></p>
  </td>
 <td valign=bottom width=14% style="border:none;height:25.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">3.09%</font></b></font></p>
  </td>
 <td valign=bottom width=12% style="border:none;height:25.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">3.44%</font></b></font></p>
  </td>
 <td valign=bottom width=12% style="border:none;height:25.5pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">3.97%</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=34% 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" lang=EN-US 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=14% 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" lang=EN-US style="font-size:9.0pt;">0.81%</font></b></font></p>
  </td>
 <td valign=bottom width=14% 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" lang=EN-US style="font-size:9.0pt;">1.25%</font></b></font></p>
  </td>
 <td valign=bottom width=14% 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" lang=EN-US style="font-size:9.0pt;">1.46%</font></b></font></p>
  </td>
 <td 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" lang=EN-US style="font-size:9.0pt;">1.22%</font></b></font></p>
  </td>
 <td 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" lang=EN-US style="font-size:9.0pt;">1.12%</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:28.4pt;margin-right:0cm;margin-top:3.0pt;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:8.0pt;">(1)&#160;&#160; Domestic</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;"> loans charged off in 2019,
2018, 2017, 2016 and 2015 were mainly related to the real estate sector.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:28.4pt;margin-right:0cm;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(2)&#160; In 2015, </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">includes</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;"> amounts related to Garanti BBVA (in which
we acquired a further 14.89% stake in such year, following which we started to
fully consolidate Garanti BBVA&#180;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>

<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;3,256 million
during the year ended December 31, 2019 compared with the &#8364;4,774 million during
the year ended 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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">79</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_85"></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:0cm;margin-right:0cm;margin-top:0cm;text-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 decreased to 3.10% as of
December 31, 2019 compared with 3.19% as of December 31, 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;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;">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;">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 2019, 2018, 2017, 2016 and 2015 was
&#8364;399.9 million, &#8364;412.5 million, &#8364;347.4 million, &#8364;264.2 million and &#8364;253.9
million, respectively.
</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">80</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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-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 regarding our impaired loans of
customers, central banks and credit institutions as of the dates indicated:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_4E45.1" 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:7.0pt;">2019</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" lang=EN-US style="font-size:7.0pt;">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:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US 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" lang=EN-US 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" lang=EN-US style="font-size:7.0pt;">2015</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=38% 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" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=5 nowrap width=62% 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" lang=EN-US style="font-size:7.0pt;">(In Millions of
  Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=38% 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" lang=EN-US style="font-size:7.0pt;">Impaired loans</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% 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" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=13% 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" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% 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" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% 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" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% 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" lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=38% 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" lang=EN-US style="font-size:7.0pt;">Domestic</font></b></font></p>
  </td>
 <td nowrap width=13% 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" lang=EN-US style="font-size:7.0pt;">8,104</font></b></font></p>
  </td>
 <td nowrap width=13% 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" lang=EN-US style="font-size:7.0pt;">9,436</font></b></font></p>
  </td>
 <td nowrap 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:7.0pt;">12,730</font></b></font></p>
  </td>
 <td nowrap 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:7.0pt;">16,360</font></b></font></p>
  </td>
 <td nowrap 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:7.0pt;">19,481</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom 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" lang=EN-US 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" lang=EN-US style="font-size:7.0pt;">86</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" lang=EN-US style="font-size:7.0pt;">112</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:7.0pt;">191</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom 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" lang=EN-US 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" lang=EN-US style="font-size:7.0pt;">8,018</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" lang=EN-US style="font-size:7.0pt;">9,324</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:7.0pt;">19,290</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom 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" lang=EN-US 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" lang=EN-US style="font-size:7.0pt;">7,855</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" lang=EN-US style="font-size:7.0pt;">6,923</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:7.0pt;">5,882</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom 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" lang=EN-US 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" lang=EN-US style="font-size:7.0pt;">1</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" lang=EN-US style="font-size:7.0pt;">16</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:7.0pt;">21</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom 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" lang=EN-US 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" lang=EN-US style="font-size:7.0pt;">7,853</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" lang=EN-US style="font-size:7.0pt;">6,906</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:7.0pt;">5,860</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" lang=EN-US 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" lang=EN-US style="font-size:7.0pt;">15,959</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" lang=EN-US style="font-size:7.0pt;">16,359</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:7.0pt;">25,363</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" lang=EN-US 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" lang=EN-US style="font-size:7.0pt;">(12,427)</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" lang=EN-US style="font-size:7.0pt;">(12,211)</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:7.0pt;">(18,742)</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" lang=EN-US 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" lang=EN-US style="font-size:7.0pt;">3,533</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" lang=EN-US style="font-size:7.0pt;">4,148</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:7.0pt;">6,621</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=38% 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" lang=EN-US 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: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" lang=EN-US style="font-size:7.0pt;">3.99%</font></b></font></p>
  </td>
 <td nowrap width=13% 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" lang=EN-US style="font-size:7.0pt;">4.27%</font></b></font></p>
  </td>
 <td nowrap width=12% 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" lang=EN-US style="font-size:7.0pt;">4.69%</font></b></font></p>
  </td>
 <td nowrap width=12% 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" lang=EN-US style="font-size:7.0pt;">4.92%</font></b></font></p>
  </td>
 <td nowrap width=12% 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" lang=EN-US style="font-size:7.0pt;">5.38%</font></b></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td width=38% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US 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: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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:7.0pt;">0.88%</font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:7.0pt;">1.08%</font></b></font></p>
  </td>
 <td nowrap width=12% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:7.0pt;">1.60%</font></b></font></p>
  </td>
 <td nowrap width=12% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:7.0pt;">1.48%</font></b></font></p>
  </td>
 <td nowrap width=12% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:7.0pt;">1.40%</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;">Our total impaired loans
amounted to &#8364;15,959 million as of December 31, 2019, a 2.4% decrease compared
with &#8364;16,359 million as of December 31, 2018. This decrease was mainly
attributable to the reduction in the impairment of loans to the public sector
and, to a lesser extent, in loans to households, partially offset by the impact
of the increase in the volume of consumer loans.</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 which
present an expected credit loss. As of December 31, 2019, the loan loss reserve
amounted to &#8364;12,427 million, a 1.8% increase compared with the &#8364;12,211 million
recorded 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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">81</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_87"></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;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following tables provide information regarding impaired loans to
customers, central banks and credit institutions recorded under &#8220;Financial
assets at amortized cost&#8221; and accumulated impairment taken for each loan
category, as of December 31, 2019 and 2018, by type of customer:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_4E45.2" 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" lang=EN-US style="font-size:9.0pt;">2019</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" lang=EN-US style="font-size:9.0pt;">Impaired Loans</font></b></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">Loan Loss Reserve
  (1)</font></b></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">Impaired Loans as
  a Percentage of Loans by Category</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=bottom width=51% 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 lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 nowrap width=49% 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" lang=EN-US style="font-size:7.0pt;">(In Millions of
  Euros)</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" lang=EN-US style="font-size:9.0pt;">Domestic:</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=17% 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 lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom 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 lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom 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 lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Government</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">86</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(36)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">0.60%</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" lang=EN-US style="font-size:9.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US style="font-size:9.0pt;">Other sectors</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">8,018</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(4,895)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">5.33%</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" lang=EN-US style="font-size:9.0pt;">Agriculture</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">60</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(42)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">4.93%</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" lang=EN-US style="font-size:9.0pt;">Industrial</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">686</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(513)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">4.90%</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" lang=EN-US style="font-size:9.0pt;">Real estate and construction</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">1,180</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(751)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">12.33%</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" lang=EN-US style="font-size:9.0pt;">Commercial and other financial</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">1,173</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(856)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">7.24%</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" lang=EN-US style="font-size:9.0pt;">Loans to individuals</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">4,257</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(2,176)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">4.40%</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" lang=EN-US style="font-size:9.0pt;">Other</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">663</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(557)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">5.16%</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" lang=EN-US style="font-size:9.0pt;">Total Domestic</font></b></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">8,104</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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">(4,931)</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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">4.91%</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" lang=EN-US style="font-size:9.0pt;">Foreign:</font></b></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=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">&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=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">&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=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Government</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(23)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">0.01%</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 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" lang=EN-US style="font-size:9.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">6</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(24)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">0.04%</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" lang=EN-US style="font-size:9.0pt;">Other sectors</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">7,848</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(7,448)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">3.43%</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" lang=EN-US style="font-size:9.0pt;">Agriculture</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">93</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(83)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">3.69%</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" lang=EN-US style="font-size:9.0pt;">Industrial</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">1,824</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(1,405)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">4.20%</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" lang=EN-US style="font-size:9.0pt;">Real estate and construction</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">980</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(652)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">4.71%</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" lang=EN-US style="font-size:9.0pt;">Commercial and other financial</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">835</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(763)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">2.02%</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" lang=EN-US style="font-size:9.0pt;">Loans to individuals</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">3,124</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(3,670)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">3.66%</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" lang=EN-US style="font-size:9.0pt;">Other</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">991</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(876)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">2.83%</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" lang=EN-US style="font-size:9.0pt;">Total Foreign</font></b></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">7,855</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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">(7,496)</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">3.23%</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" lang=EN-US style="font-size:9.0pt;">Total </font></b></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">15,959</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(12,427)</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">3.91%</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:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1)&#160;&#160; 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:8.0pt;">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:8.0pt;">.
</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">82</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_88"></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 title="F_20F_SMSR_4E45.3" 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" lang=EN-US style="font-size:9.0pt;">2018</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" lang=EN-US style="font-size:9.0pt;">Impaired Loans</font></b></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">Loan Loss Reserve
  (1)</font></b></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Domestic:</font></b></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" lang=EN-US 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</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 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" lang=EN-US style="font-size:9.0pt;">Government</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">112</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(59)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Credit institutions</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US style="font-size:9.0pt;">Other sectors</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">9,324</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(5,396)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Agriculture</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">57</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(37)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Industrial</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">712</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(502)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Real estate and construction</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">1,624</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(1,060)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Commercial and other financial</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">1,104</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(770)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Loans to individuals</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">5,065</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(2,461)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Other</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">763</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(566)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Total Domestic</font></b></font></p>
  </td>
 <td valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">9,436</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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">(5,455)</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Foreign:</font></b></font></p>
  </td>
 <td 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Government</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">16</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(24)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Credit institutions</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">10</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(12)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Other sectors</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">6,896</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(6,719)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Agriculture</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">66</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(70)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Industrial</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">1,682</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(1,163)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Real estate and construction</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">697</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(571)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Commercial and other financial</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">667</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(638)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Loans to individuals</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">2,773</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(3,372)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Other</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">1,011</font></font></p>
  </td>
 <td valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(905)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Total Foreign</font></b></font></p>
  </td>
 <td valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">6,923</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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">(6,755)</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Total</font></b></font></p>
  </td>
 <td valign=bottom width=17% 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" lang=EN-US style="font-size:9.0pt;">16,359</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(12,211)</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US 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:6.0pt;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;">(1)&#160;&#160; Includes impairment of Stage
1, 2 and 3 loans recorded under &#8220;Financial assets at amortized cost&#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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">83</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</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">

<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-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;">Troubled Debt Restructurings</font></i></b></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,
2019, of the total troubled debt restructurings of &#8364;16,237 million, &#8364;6,887
million were not considered impaired loans. See Note 7.1 and Appendix VIII 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;">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:17.85pt;"><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: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 asset ratio in our domestic
real estate and construction portfolio was </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">12.3%</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> as of December 31, 2019 (compared with 15.2% as of
December 31, 2018), substantially higher than the average non-performing asset
ratio for all of our domestic activities (4.9% as of December 31, 2019 and 5.5%
as of December 31, 2018) and the average non-performing asset ratio for all of
our consolidated activities (3.8% as of December 31, 2019 and 3.9% as of
December 31, 2018). Within such portfolio, construction loans and property
development loans (which exclude mainly infrastructure and civil construction)
had a non-performing asset ratio of 9.0% as of December 31, 2019 (compared with
17.2% as of December 31, 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;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;">Foreign Country
Outstandings</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;">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, 2019, December 31, 2018 and
December 31, 2017. 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 title="F_20F_SMSR_4E46.1" style="border-collapse:collapse;width:100%;">
 <tr style="height:15.75pt;">
  <td nowrap width=23% style="height:15.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 nowrap width=26% 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" lang=EN-US style="font-size:9.0pt;">2019</font></b></font></p>
  </td>
 <td colspan=2 nowrap width=26% 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" lang=EN-US style="font-size:9.0pt;">2018</font></b></font></p>
  </td>
 <td colspan=2 nowrap width=25% 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" lang=EN-US style="font-size:9.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td nowrap width=23% 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=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=13% 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" lang=EN-US style="font-size:9.0pt;">Amount</font></b></font></p>
  </td>
 <td width=13% 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" lang=EN-US style="font-size:9.0pt;">% of Total Assets</font></b></font></p>
  </td>
 <td width=13% 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" lang=EN-US style="font-size:9.0pt;">Amount</font></b></font></p>
  </td>
 <td width=13% 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" lang=EN-US style="font-size:9.0pt;">% of Total Assets</font></b></font></p>
  </td>
 <td width=13% 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" lang=EN-US style="font-size:9.0pt;">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" lang=EN-US style="font-size:9.0pt;">% of Total Assets</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap 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=black face=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=6 nowrap 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" lang=EN-US style="font-size:9.0pt;">(In Millions of
  Euros, Except Percentages)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US 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 style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">United Kingdom </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" lang=EN-US style="font-size:9.0pt;">6,086</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" lang=EN-US style="font-size:9.0pt;">0.9%</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" lang=EN-US style="font-size:9.0pt;">7,114</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" lang=EN-US style="font-size:9.0pt;">1.1%</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1.2%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=23% 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" lang=EN-US style="font-size:9.0pt;">Mexico </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=EN-US style="font-size:9.0pt;">1,697</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=EN-US style="font-size:9.0pt;">0.2%</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=EN-US style="font-size:9.0pt;">2,217</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=EN-US style="font-size:9.0pt;">0.3%</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=EN-US style="font-size:9.0pt;">2,635</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=EN-US style="font-size:9.0pt;">0.4%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=23% 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" lang=EN-US style="font-size:9.0pt;">Turkey</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=EN-US style="font-size:9.0pt;">3,856</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=EN-US style="font-size:9.0pt;">0.6%</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=EN-US style="font-size:9.0pt;">5,060</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=EN-US style="font-size:9.0pt;">0.7%</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=EN-US style="font-size:9.0pt;">7,754</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=EN-US style="font-size:9.0pt;">1.1%</font></font></p>
  </td>
 </tr>
<tr style="height:36.0pt;">
  <td valign=bottom width=23% 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" lang=EN-US style="font-size:9.0pt;">Other OECD (Organization for Economic
  Co-operation and Development)</font></font></p>
  </td>
 <td nowrap width=13% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">9,463</font></font></p>
  </td>
 <td nowrap width=13% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1.4%</font></font></p>
  </td>
 <td nowrap width=13% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">7,779</font></font></p>
  </td>
 <td nowrap width=13% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1.1%</font></font></p>
  </td>
 <td nowrap width=13% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">7,885</font></font></p>
  </td>
 <td nowrap width=12% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1.1%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=23% 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" lang=EN-US style="font-size:9.0pt;">Total OECD </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=right style="border:none;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-US style="font-size:9.0pt;">21,102</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" lang=EN-US style="font-size:9.0pt;">3.0%</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=right style="border:none;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-US style="font-size:9.0pt;">22,170</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" lang=EN-US style="font-size:9.0pt;">3.3%</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=right style="border:none;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-US style="font-size:9.0pt;">26,718</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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3.9%</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.6pt;">
  <td width=23% 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" lang=EN-US style="font-size:9.0pt;">Central and South
  America </font></font></p>
  </td>
 <td nowrap width=13% style="border:none;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" lang=EN-US style="font-size:9.0pt;">3,323</font></font></p>
  </td>
 <td nowrap width=13% 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" lang=EN-US style="font-size:9.0pt;">0.5%</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;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" lang=EN-US style="font-size:9.0pt;">2,720</font></font></p>
  </td>
 <td nowrap width=13% 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" lang=EN-US style="font-size:9.0pt;">0.4%</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;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" lang=EN-US style="font-size:9.0pt;">3,980</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" lang=EN-US style="font-size:9.0pt;">0.6%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=23% 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" lang=EN-US style="font-size:9.0pt;">Other </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=EN-US style="font-size:9.0pt;">6,924</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=EN-US style="font-size:9.0pt;">1.0%</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=EN-US style="font-size:9.0pt;">4,739</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=EN-US style="font-size:9.0pt;">0.7%</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=EN-US style="font-size:9.0pt;">3,787</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=EN-US style="font-size:9.0pt;">0.5%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=23% 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" lang=EN-US style="font-size:9.0pt;">Total </font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">31,349</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">4.5%</font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">29,629</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">4.4%</font></b></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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">34,485</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">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: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 sets forth the amounts of our cross-border outstandings as of
December 31, 2019, 2018 and 2017 by type of borrower where outstandings in the
borrower&#180;s country exceeded 1% of our 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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">84</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</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>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_4E46.2" style="border-collapse:collapse;width:100%;">
 <tr style="height:48.0pt;">
  <td nowrap width=32% style="height:48.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:48.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border: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-US style="font-size:9.0pt;">Governments</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:48.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border: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-US style="font-size:9.0pt;">Banks and Other
  Financial Institutions</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:48.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border: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-US style="font-size:9.0pt;">Commercial,
  Industrial and Other</font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:48.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border: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-US style="font-size:9.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap 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 face=Calibri,sans-serif style="border:none;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 nowrap width=68% 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" lang=EN-US style="font-size:9.0pt;">(In Millions of
  Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=32% 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" lang=EN-US style="font-size:9.0pt;">As of December 31, 2019</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=32% 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" lang=EN-US style="font-size:9.0pt;">Mexico</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" lang=EN-US style="font-size:9.0pt;">188</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" lang=EN-US style="font-size:9.0pt;">8</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" lang=EN-US style="font-size:9.0pt;">1,501</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" lang=EN-US style="font-size:9.0pt;">1,697</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=32% 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" lang=EN-US style="font-size:9.0pt;">Turkey</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" lang=EN-US style="font-size:9.0pt;">618</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" lang=EN-US style="font-size:9.0pt;">283</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" lang=EN-US style="font-size:9.0pt;">2,955</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" lang=EN-US style="font-size:9.0pt;">3,856</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=32% 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" lang=EN-US style="font-size:9.0pt;">United Kingdom </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" lang=EN-US 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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">5,246</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" lang=EN-US style="font-size:9.0pt;">839</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" lang=EN-US style="font-size:9.0pt;">6,086</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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Total </font></b></font></p>
  </td>
 <td nowrap width=17% 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=EN-US style="font-size:9.0pt;">806</font></b></font></p>
  </td>
 <td nowrap width=17% 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=EN-US style="font-size:9.0pt;">5,537</font></b></font></p>
  </td>
 <td nowrap width=17% 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=EN-US style="font-size:9.0pt;">5,295</font></b></font></p>
  </td>
 <td nowrap width=17% 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=EN-US style="font-size:9.0pt;">11,638</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td nowrap width=32% style="height:24.75pt;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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;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" lang=EN-US style="font-size:9.0pt;">&nbsp;</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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">As of December 31, 2018</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=32% 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" lang=EN-US style="font-size:9.0pt;">Mexico</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" lang=EN-US style="font-size:9.0pt;">133</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">2,217</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=32% 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" lang=EN-US style="font-size:9.0pt;">Turkey</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" lang=EN-US style="font-size:9.0pt;">1,250</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">5,060</font></font></p>
  </td>
 </tr>
<tr style="height:16.35pt;">
  <td nowrap width=32% 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" lang=EN-US style="font-size:9.0pt;">United Kingdom </font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">22</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US 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: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" lang=EN-US style="font-size:9.0pt;">876</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">7,114</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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Total </font></b></font></p>
  </td>
 <td nowrap width=17% 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=EN-US style="font-size:9.0pt;">1,405</font></b></font></p>
  </td>
 <td nowrap width=17% 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=EN-US 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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US 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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">14,391</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=32% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=17% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=17% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=17% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=17% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=32% 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" lang=EN-US style="font-size:9.0pt;">As of December 31, 2017</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=32% 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" lang=EN-US style="font-size:9.0pt;">Mexico</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" lang=EN-US style="font-size:9.0pt;">280</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">2,635</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=32% 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" lang=EN-US style="font-size:9.0pt;">Turkey</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" lang=EN-US style="font-size:9.0pt;">3,211</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">8,444</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=32% 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" lang=EN-US style="font-size:9.0pt;">United Kingdom </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" lang=EN-US 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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">7,754</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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Total </font></b></font></p>
  </td>
 <td nowrap width=17% 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=EN-US style="font-size:9.0pt;">3,491</font></b></font></p>
  </td>
 <td nowrap width=17% 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=EN-US 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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US 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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">18,833</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: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;">&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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">85</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_91"></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;text-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;184 million, &#8364;100
million and &#8364;130 million as of December 31, 2019, 2018 and 2017, respectively.
These figures do not reflect loan loss reserves of 12.5%, 38.0% and 19.1%,
respectively, of the relevant amounts outstanding at such dates. Deposits with
or loans to borrowers in all such countries as of December 31, 2019 did not in
the aggregate exceed 0.03% 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, 2019, 2018 and 2017 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, 2019, 2018 and 2017
amounted to $73 million, $90 million and $124 million, respectively
(approximately &#8364;65 million, &#8364;78 million and &#8364;104 million, respectively, based
on a euro/dollar exchange rate on December 31, 2019 of $1.00 = &#8364;0.89, on
December 31, 2018 of $1.00 = &#8364;0.87 and on December 31, 2017 of $1.00 = &#8364;0.83).</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;">LIABILITIES</font></b></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;text-indent:17.85pt;"><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 title="F_20F_SMSR_4E511.1" style="border-collapse:collapse;width:100%;">
 <tr style="height:21.75pt;">
  <td nowrap valign=bottom width=24% style="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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=4 valign=bottom width=76% 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" lang=EN-US style="font-size:8.0pt;">As of December 31,
  2019</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td nowrap valign=bottom width=24% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=19% 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" lang=EN-US style="font-size:8.0pt;">Customer Deposits</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:33.75pt;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=EN-US style="font-size:8.0pt;">Bank of Spain and
  Other Central Banks</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:33.75pt;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=EN-US style="font-size:8.0pt;">Other Credit
  Institutions</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:33.75pt;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=EN-US style="font-size:8.0pt;">Total</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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=4 valign=bottom width=76% 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" lang=EN-US style="font-size:8.0pt;">(In Millions of
  Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">171,611 </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" lang=EN-US style="font-size:9.0pt;">24,318 </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" lang=EN-US style="font-size:9.0pt;">3,218</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" lang=EN-US style="font-size:9.0pt;">199,147</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Foreign</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=19% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=24% 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">15,360 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">9,190</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" lang=EN-US style="font-size:9.0pt;">24,549</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=24% 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">66,181 </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" lang=EN-US style="font-size:9.0pt;">72 </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" lang=EN-US style="font-size:9.0pt;">6,377</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" lang=EN-US style="font-size:9.0pt;">72,630</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=24% 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">56,564 </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" lang=EN-US style="font-size:9.0pt;">492 </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" lang=EN-US style="font-size:9.0pt;">1,634</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" lang=EN-US style="font-size:9.0pt;">58,689</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=24% 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">36,042 </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" lang=EN-US style="font-size:9.0pt;">257 </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" lang=EN-US style="font-size:9.0pt;">924</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" lang=EN-US style="font-size:9.0pt;">37,223</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=24% 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">36,661 </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" lang=EN-US style="font-size:9.0pt;">811 </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" lang=EN-US style="font-size:9.0pt;">2,840</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" lang=EN-US style="font-size:9.0pt;">40,311</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td valign=bottom width=24% 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1,801 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">4,568</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" lang=EN-US style="font-size:9.0pt;">6,369</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">212,608</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" lang=EN-US style="font-size:9.0pt;">1,631</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" lang=EN-US style="font-size:9.0pt;">25,533</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" lang=EN-US style="font-size:9.0pt;">239,772</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td valign=bottom width=24% 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">384,219</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" lang=EN-US style="font-size:9.0pt;">25,950</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" lang=EN-US style="font-size:9.0pt;">28,751</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" lang=EN-US style="font-size:9.0pt;">438,919</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:17.85pt;"><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 title="F_20F_SMSR_4E511.2" style="border-collapse:collapse;width:100%;">
 <tr style="height:18.0pt;">
  <td nowrap valign=bottom width=24% style="height:18.0pt;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-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=4 valign=bottom width=76% 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" lang=EN-US style="font-size:8.0pt;">As of December 31,
  2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.75pt;">
  <td nowrap valign=bottom width=24% style="height:27.75pt;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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;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=EN-US style="font-size:8.0pt;">Customer Deposits</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: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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Bank of Spain and
  Other Central Banks</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: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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Other Credit
  Institutions</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: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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=24% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 valign=bottom width=76% 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" lang=EN-US style="font-size:8.0pt;">(In Millions of
  Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">166,403 </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">197,510</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=24% 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">22,077 </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">36,621</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=24% 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">62,539 </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">66,979</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=24% 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">50,991 </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">51,690</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=24% 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">33,427 </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">34,963</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=24% 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">37,970 </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">40,635</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=24% 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">2,563 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">4,268</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" lang=EN-US style="font-size:9.0pt;">6,831</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">209,567</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">237,719</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td valign=bottom width=24% 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">375,970</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">435,229</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">86</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</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:0cm;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_4E511.3" 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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">As of December 31,
  2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:31.5pt;">
  <td nowrap valign=bottom width=23% style="height:31.5pt;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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=19% style="border:none;border-bottom:solid black 1.0pt;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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Customer Deposits</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: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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Bank of Spain and
  Other Central Banks</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: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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Other Credit
  Institutions</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: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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=20% 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">467,949</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;">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: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;">As of
December 31, 2019, 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 title="F_20F_SMSR_4E512" 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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">As of December 31,
  2019</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">3,269</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" lang=EN-US style="font-size:9.0pt;">36,240</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" lang=EN-US style="font-size:9.0pt;">39,509</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1,430</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" lang=EN-US style="font-size:9.0pt;">4,552</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" lang=EN-US style="font-size:9.0pt;">5,982</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">2,149</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" lang=EN-US style="font-size:9.0pt;">6,572</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" lang=EN-US style="font-size:9.0pt;">8,721</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=41% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">2,221</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" lang=EN-US style="font-size:9.0pt;">5,416</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" lang=EN-US style="font-size:9.0pt;">7,636</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=41% style="border:none;border-bottom:double black 2.25pt;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" lang=EN-US 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:15.75pt;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" lang=EN-US style="font-size:9.0pt;">9,069</font></b></font></p>
  </td>
 <td nowrap width=19% style="border:none;border-bottom:double black 2.25pt;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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">52,780</font></b></font></p>
  </td>
 <td nowrap width=20% style="border:none;border-bottom:double black 2.25pt;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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">61,849</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top: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;">Time deposits recorded under
&#8220;Financial liabilities at amortized cost&#8221; from Spanish and foreign financial
institutions amounted to &#8364;18,896 million as of December 31, 2019, 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 geographic area
of customer deposits recorded under &#8220;Financial liabilities at amortized cost&#8221;
as of December 31, 2019, 2018 and 2017 see Note 22 to our Consolidated
Financial Statements.</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;"><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, 2019, 2018 and 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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">87</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_93"></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;"><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 for the years ended December 31, 2019, 2018 and 2017:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_4E52" style="border-collapse:collapse;width:100%;">
 <tr style="height:15.75pt;">
  <td valign=bottom width=37% 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" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 rowspan=2 valign=bottom width=20% 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" lang=EN-US style="font-size:9.0pt;">As of and for the
  Year Ended December 31, 2019 (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" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 rowspan=2 valign=bottom width=20% 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" lang=EN-US style="font-size:9.0pt;">As of and for the
  Year Ended December 31, 2018 (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" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 rowspan=2 valign=bottom width=18% 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" lang=EN-US style="font-size:9.0pt;">As of and for the
  Year Ended December 31, 2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td valign=bottom width=37% style="background:white;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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=3% style="background:white;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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=2% 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" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=37% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">Amount</font></b></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">Amount</font></b></font></p>
  </td>
 <td valign=bottom width=10% 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" lang=EN-US 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" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">Amount</font></b></font></p>
  </td>
 <td valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">Average rate</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=37% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=8 valign=bottom width=63% 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" lang=EN-US style="font-size:9.0pt;">(In Millions of
  Euros, Except Percentages)</font></b></font></p>
  </td>
 </tr>
<tr style="height:36.0pt;">
  <td valign=top width=37% 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" lang=EN-US style="font-size:9.0pt;">Securities sold under agreements to
  repurchase:</font></b></font></p>
  </td>
 <td valign=top width=10% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=top width=10% 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=top width=10% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=top width=10% 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" lang=EN-US 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" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=37% 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=EN-US style="font-size:9.0pt;">As of end of period</font></font></p>
  </td>
 <td nowrap valign=top width=10% 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" lang=EN-US style="font-size:9.0pt;">45,296</font></font></p>
  </td>
 <td nowrap valign=top 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" lang=EN-US style="font-size:9.0pt;">1.9%</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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=10% 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" lang=EN-US style="font-size:9.0pt;">16,524</font></font></p>
  </td>
 <td nowrap valign=top 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" lang=EN-US style="font-size:9.0pt;">4.3%</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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% 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" lang=EN-US style="font-size:9.0pt;">33,208</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1.7%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=37% 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=EN-US style="font-size:9.0pt;">Average during period</font></font></p>
  </td>
 <td nowrap valign=top width=10% 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" lang=EN-US style="font-size:9.0pt;">46,139</font></font></p>
  </td>
 <td nowrap valign=top 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" lang=EN-US style="font-size:9.0pt;">2.1%</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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=10% 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" lang=EN-US style="font-size:9.0pt;">16,836</font></font></p>
  </td>
 <td nowrap valign=top 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" lang=EN-US style="font-size:9.0pt;">4.7%</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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% 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" lang=EN-US style="font-size:9.0pt;">32,475</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2.4%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=37% 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=EN-US style="font-size:9.0pt;">Maximum quarter-end balance </font></font></p>
  </td>
 <td nowrap valign=top width=10% 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" lang=EN-US style="font-size:9.0pt;">50,482</font></font></p>
  </td>
 <td nowrap valign=top width=10% 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=10% 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" lang=EN-US style="font-size:9.0pt;">17,155</font></font></p>
  </td>
 <td nowrap valign=top width=10% 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% 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" lang=EN-US style="font-size:9.0pt;">33,863</font></font></p>
  </td>
 <td nowrap valign=top width=9% 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=37% 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" lang=EN-US style="font-size:9.0pt;">Bank promissory notes:</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=EN-US style="font-size:9.0pt;">&nbsp;</font></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=EN-US 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></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=EN-US style="font-size:9.0pt;">&nbsp;</font></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=EN-US 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=37% 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=EN-US style="font-size:9.0pt;">As of end of period</font></font></p>
  </td>
 <td nowrap valign=top width=10% 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" lang=EN-US style="font-size:9.0pt;">801</font></font></p>
  </td>
 <td nowrap valign=top 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" lang=EN-US style="font-size:9.0pt;">0.4%</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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=10% 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" lang=EN-US style="font-size:9.0pt;">449</font></font></p>
  </td>
 <td nowrap valign=top 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" lang=EN-US style="font-size:9.0pt;">3.1%</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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% 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" lang=EN-US style="font-size:9.0pt;">1,462</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">0.7%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=37% 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=EN-US style="font-size:9.0pt;">Average during period </font></font></p>
  </td>
 <td nowrap valign=top width=10% 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" lang=EN-US style="font-size:9.0pt;">681</font></font></p>
  </td>
 <td nowrap valign=top 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" lang=EN-US style="font-size:9.0pt;">0.7%</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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=10% 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" lang=EN-US style="font-size:9.0pt;">580</font></font></p>
  </td>
 <td nowrap valign=top 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" lang=EN-US style="font-size:9.0pt;">1.6%</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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% 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" lang=EN-US style="font-size:9.0pt;">704</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1.0%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=37% 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=EN-US style="font-size:9.0pt;">Maximum quarter-end balance </font></font></p>
  </td>
 <td nowrap valign=top width=10% 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" lang=EN-US style="font-size:9.0pt;">939</font></font></p>
  </td>
 <td nowrap valign=top width=10% 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=10% 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" lang=EN-US style="font-size:9.0pt;">1,036</font></font></p>
  </td>
 <td nowrap valign=top width=10% 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% 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" lang=EN-US style="font-size:9.0pt;">1,462</font></font></p>
  </td>
 <td nowrap valign=top width=9% 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=37% 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" lang=EN-US style="font-size:9.0pt;">Bonds and subordinated debt:</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=EN-US style="font-size:9.0pt;">&nbsp;</font></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=EN-US 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></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=EN-US style="font-size:9.0pt;">&nbsp;</font></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=EN-US 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=37% 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=EN-US style="font-size:9.0pt;">As of end of period</font></font></p>
  </td>
 <td nowrap valign=top width=10% 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" lang=EN-US style="font-size:9.0pt;">9,249</font></font></p>
  </td>
 <td nowrap valign=top 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" lang=EN-US style="font-size:9.0pt;">3.8%</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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=10% 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" lang=EN-US style="font-size:9.0pt;">5,633</font></font></p>
  </td>
 <td nowrap valign=top 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" lang=EN-US style="font-size:9.0pt;">3.6%</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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% 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" lang=EN-US style="font-size:9.0pt;">4,321</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">5.8%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=37% 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=EN-US style="font-size:9.0pt;">Average during period</font></font></p>
  </td>
 <td nowrap valign=top width=10% 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" lang=EN-US style="font-size:9.0pt;">6,799</font></font></p>
  </td>
 <td nowrap valign=top 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" lang=EN-US style="font-size:9.0pt;">4.5%</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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=10% 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" lang=EN-US style="font-size:9.0pt;">4,775</font></font></p>
  </td>
 <td nowrap valign=top 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" lang=EN-US style="font-size:9.0pt;">4.6%</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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% 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" lang=EN-US style="font-size:9.0pt;">7,717</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">5.4%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=37% 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=EN-US style="font-size:9.0pt;">Maximum quarter-end balance </font></font></p>
  </td>
 <td nowrap valign=top width=10% 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" lang=EN-US style="font-size:9.0pt;">9,468</font></font></p>
  </td>
 <td nowrap valign=top 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=10% 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" lang=EN-US style="font-size:9.0pt;">5,633</font></font></p>
  </td>
 <td nowrap valign=top 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% 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" lang=EN-US style="font-size:9.0pt;">10,848</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td valign=top width=37% 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" lang=EN-US style="font-size:9.0pt;">Total short-term borrowings as of end of
  period</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">55,346</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">2.2%</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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">22,606</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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" lang=EN-US style="font-size:9.0pt;">4.1%</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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">38,991</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">2.1%</font></b></font></p>
  </td>
 </tr>
</table></div>



<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:8.0pt;">(1)&#160; As of December 31, 2019, includes all repurchase
agreements recorded under &#8220;Financial liabilities at amortized cost&#8221; and
&#8220;Financial liabilities held for trading&#8221;. As of December 31, 2018, includes
only certain repurchase agreements which were accounted for as &#8220;Financial
liabilities at amortized cost&#8221; as of December 31, 2017.</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
of December 31, 2019 and 2018, the securities sold under agreements to
repurchase were mainly Mexican and Spanish treasury bills and such agreements
were entered into with other financial and credit institutions. As of December
31, 2017, the securities sold under agreements to repurchase were mainly
Spanish treasury bills.
</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">88</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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>


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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 style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Certain Ratios</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;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following table
sets out certain ratios for the years ended December 31, 2019, 2018 and 2017:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_4E53" 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" lang=EN-US 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" lang=EN-US 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:15.75pt;">
  <td width=36% style="height:15.75pt;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=EN-US 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:15.75pt;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=EN-US style="font-size:8.0pt;">2019</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:15.75pt;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=EN-US 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:15.75pt;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=EN-US style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=36% style="height:15.75pt;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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 nowrap width=64% 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" lang=EN-US style="font-size:8.0pt;">(In Percentages)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=36% 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" lang=EN-US style="font-size:9.0pt;">Return on equity (1) </font></font></p>
  </td>
 <td nowrap valign=bottom width=22% 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" lang=EN-US style="font-size:9.0pt;">6.3%</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% 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" lang=EN-US style="font-size:9.0pt;">10.2%</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">0.6%</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">0.7%</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">39.9%</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">32.0%</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=36% 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" lang=EN-US style="font-size:9.0pt;">Equity to assets ratio (4) </font></font></p>
  </td>
 <td nowrap valign=bottom width=22% 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" lang=EN-US style="font-size:9.0pt;">7.9%</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% 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" lang=EN-US style="font-size:9.0pt;">7.8%</font></font></p>
  </td>
 <td nowrap valign=bottom width=21% 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" lang=EN-US style="font-size:9.0pt;">7.7%</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;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:8.0pt;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(1)&#160;&#160; Represents profit attributable to parent company for
the year as a percentage of average shareholders&#8217; funds for the year. </font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(2)&#160;&#160; Represents profit attributable to parent company for
the year as a percentage of average total assets for the year. </font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(3)&#160; Represents dividends declared by BBVA (including the
cash remuneration paid under the &#8220;Dividend Option&#8221; scheme in 2017) as a
percentage of profit. This ratio does not take into account the non-cash
remuneration paid by BBVA under the &#8220;Dividend Option&#8221; scheme in 2017 (in the
form of BBVA shares or ADSs). See </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&#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:8.0pt;">.&nbsp;</font></font><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:10.0pt;margin-left:14.2pt;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:8.0pt;">(4)&#160;&#160; Represents average total
equity over average total assets.</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 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: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;">Accumulated other
comprehensive income (loss)</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;">As of December 31, 2019,
the accumulated other comprehensive loss amounted to &#8364;7,235 million, a 0.3% increase
compared to the &#8364;7,215 million recorded as of December 31, 2018. As of December
31, 2017, the accumulated other comprehensive loss amounted to &#8364;6,939 million.
The increase in accumulated other comprehensive loss in 2018 was principally
due to the hedges of investments in foreign exchange transactions.</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;">&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;">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>

<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 style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">F.&#160;&#160; Competition</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 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 SRB for the latter.
This has further increased the market share of Banco Santander in Spain.
Finally, in January 2018, the merger between Bankia and Banco Mare Nostrum
(&#8220;BMN&#8221;) was completed.</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 SMEs,
where new credit interest rates have fallen from a weighted average of 5.5%
between January 2012 and May 2014 to around 2.45% in November 2019, 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 remuneration for deposits, 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>


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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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">89</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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: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>

<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 European Union 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 Single Euro Payments
Area, which is a payment-integration initiative for simplification of bank
transfers, direct debits and payment cards mainly within the European Union, and
MiFID, complemented with the introduction of MiFID II in January 2018, which
aims to create a European framework for investment services. In addition,
further steps are being taken towards achieving a banking and capital markets
union in Europe. The ECB started to work as a single supervisor in November
2014, supervising 117 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 SRF, the appointment of the SRB which is
operational since January 1, 2015 and the bail-in tool included in the BRRD,
which entered into force on January 1, 2016. For additional information on
regulatory developments, see </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;&#8213;Business Overview&#8213;Supervision and
Regulation&#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-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 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;">The performance of
the U.S. banking system continued to improve in 2019. Despite elevated policy
uncertainty, lower interest rates and increased funding costs, bank loans
continued to grow at a solid pace while asset quality indicators remained
stable, supported by strong labor market conditions, robust private consumption
and solid capital spending in intellectual property, IT and industrial
equipment. As a result, during the first three quarters of 2019, net interest
income for all FDIC-insured institutions reached an all-time high of $415.9
billion, an increase of $14.1 billion or 3.5% year-on-year. In addition,
applicable income taxes edged down 1.3% year-over-year to $47.4 billion.
However, compared to 2018, non-interest income declined $1 billion while
non-interest expense increased $7.4 billion to $349.5 billion. In addition,
provisions for loan and lease losses increased $4.6 billion or 12% year-on-year
to $40.6 billion. These trends boosted net income modestly by $2.7 billion to
$180.5 billion, an increase of 1.5% year-over-year. Although both return on
assets and return on equity edged down slightly during 2019 to 1.33% and
11.67%, respectively, they remained well above their historical average and
near a 12-year high. In addition, the core capital ratio of FDIC-institutions
on overage remained stable at 9.7%, confirming healthy capital buffers. Going
forward, we expect commercial banks to continue benefiting from economic growth
and positive labor markets amid price stability and low interest rates. In
addition, we expect banking consolidation to persist, in an environment that
becomes gradually more challenging as the credit cycle matures further and
competition from non-banks intensifies.</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 Turkey, where we operate through Garanti BBVA, the three
public banks that operate in the country accounted for 41% of the total assets
of financial institutions as of December 31, 2019, whereas private banks
(including Garanti BBVA) accounted for 59%. Development banks and participation
banks (banks that operate under the ethos of Islamic banking) together
accounted for 13% of the total. Following a significant macroeconomic slow-down
in 2018, the Turkish economy started to recover in the third quarter of 2019 on
the back of supportive economic policies. TL lending (i.e., loans denominated
in Turkish lira) growth accelerated to 14% in 2019 after the weak growth rate
of 2% in 2018. TL lending to corporations grew by 15%, consumer loans grew by
16% and credit cards grew by 13%. Credit growth adjusted for the exchange rate
depreciation rose to 12% in 2019 from its 3% growth in 2018. Total customer
deposits grew by 26% during the year (20% on a foreign exchange adjusted basis,
compared with 6% in 2018). The growth in TL customer deposits (i.e., customer
deposits denominated in Turkish lira) rose to 20% from 10% in 2018. The
contraction in foreign currency denominated deposits that started in the second
half of 2018, turned into positive growth since the first quarter of 2019.
Foreign currency denominated deposits grew by 16.3% in 2019. Given the
increases in TL and foreign currency denominated deposits, the TL
loan-to-deposit ratio diminished to 130% in 2019 from 137% in 2018 and the
foreign exchange loan-to-deposit ratio fell to 78% from 99%.</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 Mexico, the
banking sector remained solvent with an average capitalization ratio of 16.1%
in November 2019 (slightly higher than the ratio reported in November 2018 of
15.9%) (in each case considering the group of entities of &#8220;banca m&#250;ltiple&#8221;
operating in Mexico). On November 30, 2019, the Mexican banking sector had 51
operating banks, one more than the previous year. The one that started
operations was Keb Hana M&#233;xico (February 2019).</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;">Total bank lending to
the private sector in Mexico decreased from an annual nominal average growth
rate of 12.2% from January to November of 2018 to 8.7% in the same period of
2019. Among the factors that influenced the slowdown in private sector credit
are the stagnation of economic activity and a significant drop in the growth
rate of formal employment. Corporate lending was the main source of growth in
total credit to the private sector. In the first half of 2019, the substitution
of external financing sources for internal credit granted by commercial banks
prevailed, which allowed an average nominal growth rate of 11.2% compared to
the first half of 2018. As this substitution effect faded out, the impact of
lower economic dynamism in general, and the contraction of private investment
in particular, was reflected in a weak firm&#8217;s credit demand, so that the
average nominal growth rate of firm&#8217;s credit for the July to November 2019
period was 6.7%. In the first nine months of 2019, credit to firms averaged an
annual nominal growth rate of 9.2% (versus 15.5% in the same period of 2018).
Credit to consumption decreased its annual nominal average growth rate from
7.2% in January to November 2018 to 6.0% in the same period of 2019. </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 stated above, this
lower dynamism was mainly associated with the deceleration of formal employment
in Mexico. Mortgage lending was the only category of commercial bank credit
which grew more in 2019 than in 2018, from an average nominal growth rate of
8.7% in January to November 2018 to a nominal growth rate of 10.5% in the same
period of 2019. Part of this momentum was attributable to the lagged impact of
the increase in the number of formal workers in previous years (2016-2017),
since potential clients of this type of credit must prove a minimum time in
service to obtain a mortgage, such that the stimulus of formal employment on
mortgage lending is observed after a lag of several months. Other factors that
contributed to boost commercial banks mortgages were the reduction of the
credit activity of public housing institutes and the recovery of real wages.</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;">Bank deposits in Mexico
continued to grow, but at lower rates, in line with the reduced momentum in the
economy. Traditional bank deposits (demand deposits and term deposits) had an
average annual growth rate of 10.1% in nominal terms between January and
November 2019, which represented a drop of 3.0 p.p. compared with the same
period of 2018. Within the deposits, demand deposits began to be replaced with
term deposits to a certain extent, influenced by the recent reduction in the
benchmark interest rate, which, however, was not enough to offset the negative
impact of lower economic activity on demand deposits. The only savings item
which grew more in 2019 than in 2018 was debt investment funds, which, from
January to November 2019, showed a nominal double-digit annual growth rate
(12.6% versus 7.3% in the same month of 2018). This resulted from reduced
interest rates, exchange rate stability and a reduction in risk aversion
stemming from reduced trade tensions between the United States and China.</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;">Under the new administration, regulatory activity in Mexico
has slowed down considerably, although one draft bill could have significant
potential impact on competition in the near future. On November 2019, after the
ruling party&#8217;s majority leader in the Senate presented a bill to severely
restrict banks&#8217; fees, a new banking fee bill with a broader and more
comprehensive approach, worked out by the Mexican Bank Association and the
financial authorities, was presented. This new project would, inter alia, (a)
broaden existing &#8220;basic&#8221; fee-free accounts to include accounts into which
government aid and subsidies are deposited (for example with respect to
unemployed or disabled customers); (b) create an &#8220;intermediate account&#8221; which
would have no fees for deposits, for a number of monthly cash withdrawals on
own ATMs (to be determined by BANXICO), and up to three interbank monthly
transfers, among others; (c) reinforce measures to permit customers to switch
banks and cancel products; (d) create a mandatory banking services offering
platform where customers will be able to review offers and, if they so choose
and meet the relevant eligibility criteria (including credit checks, where
applicable), receive a binding offer from the bank in question; and (e) with
clients&#8217; prior consent, allow banks to access credit data for the submission of
tailored offers to potential clients through the credit bureaus. The bill would
increase fee transparency requirements, with enhanced fee disclosure prior to
the signing of contracts, and the submission of a yearly report on paid fees
and interest. In addition, BANXICO and CONDUSEF (the financial ombudsman),
would be required to align their fee catalogues in order to make comparison
easier for clients. The bill was presented to the Senate, and could be voted by
February 2020 when the regular sessions period begins, before continuing its
process at the Chamber of Deputies.</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;">Finally, there have
been new developments during 2019 regarding the Mexican Fintech Law, in force
since 2018. The law creates and regulates financial technology institutions,
which may engage in either crowdfunding or the issue of e-money. The law 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. BANXICO and the CNBV published the
secondary regulation governing the operations of the regulatory sandbox during
2019.</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 European Union and elsewhere 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:10.0pt;margin-left:17.85pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-17.85pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">G.&#160;&#160; Cybersecurity and Fraud Management</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;">Our Corporate
Security (CS) 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: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 security strategy resides on three fundamental
pillars: (a) cybersecurity, (b) data protection, and (c) fraud prevention. For
each pillar, there is a program that seeks to reduce the risks identified in
the developed taxonomy. All these programs are periodically reviewed by
internal governance structures to assess their effective impact on the Group&#8217;s
risks.</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 respect to
cybersecurity, the Global Computer Emergency Response Team (CERT) is the
Group&#8217;s first line of detection and response to cyberattacks targeting global
users and the Group&#8217;s infrastructure, combining information on cyber threats
from our Threat Intelligence unit. The Global CERT, which is based in Madrid,
is made up of approximately 200 people and provides security services in all
countries where the Group operates in accordance with a service catalogue which
includes more than 60 different services. The Global CERT operates 24x7, with
operation lines dedicated to fraud and cybersecurity.</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 2019, the
Group detected an increase in the number of the attacks, accentuated by the
presence of organized crime groups specialized in the banking sector and
working in a multi-country environment. Furthermore, the Group detected a
significant increase in phishing attacks to retail customers, including fraud
attempts and the stealing of credentials.</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 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 and
the attacks of our &#8220;red team&#8221; (made up of in-house hackers). The outcome of
such exercises 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: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 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: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 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, including cyber surveillance services for the digital
fingerprints of these key personnel, to minimize the risk of cybersecurity
breaches.</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 second pillar of
the strategy is based on the adequate protection of data and its treatment,
which is a fundamental element of the data-centric strategy of the BBVA Group.
All activities related to the data protection program are reviewed by the Data
Protection Committee, where all relevant stakeholders of the organization are
represented.</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;">Cybersecurity efforts
are frequently undertaken in close coordination with our fraud prevention
efforts, the third pillar of our strategy, 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: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;">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 - Retail Credit,
Global Risk Management&nbsp;- Non-Financial Risk, Finance, Internal Audit,
Corporate Security, Client Solutions - 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: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 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: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" lang=EN-US 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: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;">None.</font></font></p>

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<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" lang=EN-US 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: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;">Overview</font></b></font></h2>

<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;">The BBVA Group is a customer-centric global financial
services group founded in 1857. </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Internationally
diversified and with strengths in the traditional banking businesses of retail
banking, asset management and wholesale banking, the Group is committed to
offering a compelling digital proposition focused on customer experience.</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 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 largest
shareholder in Garanti BBVA, Turkey&#8217;s biggest bank in terms of market
capitalization.</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 purpose of the
BBVA Group is to bring the age of opportunities to everyone, based on our
customers&#8217; real needs, resting the institution in solid values: customer comes
first, we think big and we are one team. Its responsible banking model aspires
to achieve a more inclusive and sustainable society. </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">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>

<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;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, 2019, 2018 and 2017 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, 2019, 2018 and 2017, and its results of operations and
consolidated cash flows for the years ended December 31, 2019, 2018 and 2017.
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, expense 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 loss allowance of
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, 2019, 2018 and 2017,
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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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;">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>

<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 were
not yet effective as of December 31, 2019.</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 was not applied retrospectively for previous
years and financial information relating to 2017 is presented in accordance
with IAS 39 except for certain modifications in order to improve its
comparability with financial information for 2019 and 2018.</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;">Fair value of financial 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: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;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Derivatives and other future transactions</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;">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>


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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;">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,
although the amortized cost criteria is not used when accounting for these
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 derivatives designated as hedging items are
included in the heading of the balance sheet &#8220;Derivatives - Hedge accounting&#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>

<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. 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,
2019, an impairment of &#8364;1,318 million was recognized in the United States CGU
and was mainly the result of the negative changes in interest rates, especially
in the second half of 2019, which together with the slowdown of the economy caused
the expected results to be below the previous estimate. For additional
information, see Note 18.1 to our Consolidated Financial Statements.</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 2018
and 2017, no impairment had been identified in any of the main CGUs.</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">96</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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: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 test 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, 2019, the Group
used a steady growth rate of 3.5% (4.0% as of December 31, 2018 and 2017) to
extrapolate the cash flows in perpetuity starting on the fifth year (2024),
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, 10.0% as of December 31, 2019 (10.5% as of December 31, 2018 and 10.0% as
of December 31, 2017), 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,
2019 if the discount rate had increased or decreased by 50 basis points, the
recoverable amount would have decreased or increased by &#8364;871 million and &#8364;1,017
million respectively (&#8364;1,009 million and &#8364;1,176 million respectively as of
December 31, 2018). If, as of December 31, 2019, the growth rate had increased
or decreased by 50 basis points, the recoverable amount would have increased or
decreased by &#8364;340 million and &#8364;292 million respectively (&#8364;526 million and &#8364;451
million respectively as of December 31, 2018).</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, 2019, the Group used a steady growth rate of 7.0% (the same
rate was considered as of December 31, 2018 and 2017) to extrapolate the cash
flows in perpetuity starting on the fifth year (2024), 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, 17.4% as of December 31, 2019
(24.3% and 18.0% as of December 31, 2018 and 2017, 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,
2019 if the discount rate had increased or decreased by 50 basis points, the
recoverable amount would have decreased or increased by &#8364;192 million and &#8364;212
million, respectively. If, as of December 31, 2019, the growth rate had
increased or decreased by 50 basis points, the recoverable amount would have
increased or decreased by &#8364;31 million and &#8364;28 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;">Except as indicated
above with the respect to the United States CGU,</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;">as of December 31, 2019
the recoverable amounts of our main CGUs were in excess of their carrying
value.</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;">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>

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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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">97</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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>
<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" lang=EN-US style="font-size:10.0pt;">A.&#160;&#160; Operating Results</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;">Factors Affecting the Comparability of our
Results of Operations and Financial Condition</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;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
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, 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 the years ended December
31, 2019, 2018, and 2017 and as period-end exchange rates as of December 31,
2019, 2018 and 2017 according to the European Central Bank (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">ECB</font></b><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 title="F_20F_SMSR_5A21Rates" 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">Year Ended
  December 31, 2019</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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">Year Ended
  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" lang=EN-US style="font-size:8.0pt;">As of December 31,
  2019</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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">As of December 31,
  2017</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">21.5531</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">21.2202</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">23.6614</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1.1195</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1.1234</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1.1993</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">67.2860</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">22.5830</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">3,673.6747</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">3,681.5391</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">3,584.2294</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" lang=EN-US style="font-size:9.0pt;">Peruvian 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" lang=EN-US style="font-size:9.0pt;">3.7335</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">3.7205</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">3.8813</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">6.3595</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">6.6843</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">4.5464</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-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 2019, the Turkish lira,
the Argentine peso and the Colombian peso depreciated against the euro in
average terms compared with average exchange rates in the prior year.</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;"> &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On the other hand, the Mexican peso, the U.S. dollar and the
Peruvian sol appreciated against the euro in average terms. In terms of period-end
exchange rates, the Argentine peso and the Turkish lira depreciated against the
euro. On the other hand, the Mexican peso, the U.S. dollar, the Colombian peso
and the Peruvian sol appreciated against the euro. The overall effect of
changes in exchange rates was positive for the period-on-period comparison of
the Group&#8217;s income statement and negative 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:17.85pt;"><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 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: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 on Form 20-F 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 the more recent period for both period ends.</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;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Application of IFRS 16</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;"><a name="_cp_text_1_586"></a><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">On January 1,
2019, IFRS 16 replaced IAS 17 &#8220;Leases&#8221;. The new standard introduces a single
lessee accounting model and requires a lessee to recognize assets and
liabilities for all leases. The standard provides two exceptions to the
recognition of lease assets and liabilities that can be applied in the case of
short-term contracts and those in which the underlying assets have low value.
BBVA has applied both exceptions.</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 lessee is required to recognize a right-of-use
asset representing its right to use the underlying leased asset, which is
recorded under the headings &#8220;Tangible assets - Properties, plants and
equipment&#8221; and &#8220;Tangible assets &#8211; Investment properties&#8221; in our Consolidated
Financial Statements (see Note 17), and a lease liability representing its
obligation to make lease payments, which is recorded under the heading
&#8220;Financial liabilities at amortized cost &#8211; Other&#160; financial liabilities&#8221; in our
Consolidated Financial Statements (see Note 22.5). For the consolidated income
statement within our Consolidated Financial Statements, the amortization of the
right to use asset is recorded under the heading &#8220;Depreciation and amortization
&#8211; Tangible assets&#8221; (see Note 45) and the financial cost associated with the
lease liability is recorded under the heading &#8220;Interest expense &#8211; Financial
liabilities at amortized cost&#8221; (see Note 37.2).</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 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 to account for those two types of leases differently.</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;">At the adoption date, the Group decided to apply
the modified retrospective approach which required the recognition of lease
liabilities in an amount equal to the present value of any future payments
committed under the Group&#180;s leases as of such date. Regarding the measurement
of its right-of-use assets, the Group elected to record an amount equal to the
lease liabilities, adjusted for the amount of any advance or accrued lease
payment related to the Group&#180;s leases recognized in the consolidated financial
statements immediately before the adoption date.</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 January 1, 2019, the Group recognized
right-of-use assets and lease liabilities for an amount of &#8364;3,419 million and
&#8364;3,472 million, respectively. The impact in terms of capital (CET1) of the
Group amounted to -11 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:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As allowed by IFRS 16, consolidated financial
information as of December 31, 2018 and 2017 and for the years then ended
included in our Consolidated Financial Statements has not been restated
retrospectively in this regard. For additional information, see Notes 2.2.19
and 2.3 to our Consolidated Financial Statements.</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;">Sale of BBVA Chile</font></i></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:17.85pt;"><a name="_cp_text_1_590"></a><a name="_cp_text_1_588"></a><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 from Scotiabank for the acquisition of
BBVA&#8217;s stake in BBVA Chile 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: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 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. BBVA Chile was part of our South America
segment.</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;"><a name="_cp_text_1_591"></a><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Transfer of real
estate business and sale of stake in Divarian</font></i></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;">On October 10, 2018,
after obtaining the required authorizations, BBVA completed the transfer of the
Business (except for part of the agreed REOs) 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 former Non-Core Real Estate segment (which was subsequently
integrated into our Spain operating segment)</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.&nbsp;&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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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-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: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;">Argentina, which is
part of the South America segment, was considered to be a hyperinflationary
country in 2018 for the first time. For information on the impact of
hyperinflation in the Consolidated Financial Statements, see Note 2.2.20 of the
Consolidated Financial Statements.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-indent:7.1pt;"><a name="_cp_text_1_594"></a><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Agreement with Voyager Investing UK Limited Partnership
(Anfora)</font></i></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 December 21, 2018,
BBVA reached an agreement with Voyager, <a name="_cp_text_1_596"></a>an entity
managed by <a name="_cp_text_4_597"></a>Canada Pension Plan Investment Board<a name="_cp_text_1_598"></a>, for the transfer by us of a portfolio of credit rights
which was mainly composed of non-performing and in default mortgage credits.
The transaction was completed during the third quarter of 2019 and resulted in
a gain, net of taxes, of &#8364;138 million</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> and a slightly positive impact on the BBVA Group&#8217;s CET1.</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><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Operating
Environment</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;">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 (&#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;), 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 GDP,
employment and corporate profits evolution. Interest rates 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: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;">Global growth slowed
in 2019 largely due to the structural slowdown of the Chinese economy and
cyclical moderation in the United States, especially after the effects of the
fiscal stimulus adopted in 2018 faded. Escalating protectionism added to these
factors and helped to drive global growth downwards. Investment and exports
weakened, in contrast to the relatively strong performance of private
consumption, bolstered by the relative strength of labor markets, low inflation
and counter-cyclical policies adopted in China, the United States and the
Eurozone. The fiscal stimulus launched in China and, to a lesser extent, in the
Eurozone, together with the Federal Reserve&#8217;s monetary stimulus, prevented
further moderation of growth in 2019. In addition, these measures were
fundamental to limiting volatility in financial markets. BBVA Research&#8217;s
forecasts global GDP growth to be approximately 3.2% in 2020, the same rate as
in 2019, and to gradually accelerate to approximately 3.3% in 2021. This is based
on the assumption that the easing of trade tensions between the United States
and China and the avoidance of the risk of a disorderly Brexit in the short
term (though such risk continues to persist) have contributed to reduce
economic uncertainty. At the same time, economic policy is expected to continue
to support activity at least in the major economies, as both the Federal
Reserve and the ECB are expected to keep interest rates at current low levels
for a prolonged period of time, while China is expected to take additional
fiscal and monetary stimulus measures. However, protectionism is expected to
continue to weigh on world trade and the geopolitical and structural risks
remain high. In addition, the outbreak of coronavirus disease (COVID-19) may affect
the estimates of growth included herein.</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;">Regarding the
evolution of key economic areas for the Group, the Spanish economy has
continued to slow to an annual growth rate of approximately 2.0% in 2019 driven
by the moderation of domestic demand, but it continued to expand at a higher
pace than the Eurozone (which expanded at 1.2% during the year). Looking
forward, Spanish GDP growth should be supported by the slight improvement
expected in Europe, while consumption and investment are expected to recover as
uncertainty fades and fiscal and monetary policy remain expansionary. According
to BBVA Research&#8217;s current estimates, growth is expected to slow to
approximately 1.6% in 2020 and to gain some traction in 2021 to 1.9%. However,
several sectors have been negatively affected by recent regulatory changes and
remain a drag on growth (including the automobile and residential construction
sectors). In addition, there is some slowdown in the tourism sector. Reforms
need to be implemented to increase growth capacity, foster an
investment-friendly environment and help to reduce some imbalances (including
public finances, unemployment, precariousness, inequality and climate 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: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;">Mexico&#8217;s GDP growth stagnated in 2019 (after growing at
2.1% in 2018) driven by a falling construction sector and weakness in
manufacturing, in addition to being dragged down by the sharp slowdown in the
U.S. industrial sector. On the demand side, the decline in investment and the
sharp slowdown in private consumption on the back of a slower pace of job
creation continued to take a toll on growth last year. At the beginning of
2020, BBVA Research&#8217;s GDP growth forecast was revised slightly upwards to 1.5%
in 2020 due to the lower uncertainty after the ratification of the United
States-Mexico-Canada Agreement. This is expected to lead to a gradual recovery
in private investment, while the expected improvement in formal employment
should foster private consumption, all of which should underpin the recovery of
GDP growth in 2021 to approximately 2.0%. In addition, slowing inflation should
allow BANXICO to cut interest rates further to 6.0% this year. However,
Petroleos Mexicanos&#8217; (PEMEX) structural problems (declining production and very
high debt) and uncertainty on economic policy continue to be a source of
concern. A sound fiscal and monetary policy is likely to be crucial to limiting
potential negative developments or any uncertainty with regards to the Mexican
economy. </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;">South American GDP
growth slowed to 0.9% in 2019 after having grown by 1.3% in 2018. Low regional
growth was mainly a result of the global slowdown, but also higher uncertainty
on politics and economic policies in many countries in the region. As a result,
this moderation was widespread across countries except in Colombia, where
recovery gained some momentum, supported by strong performance in private
consumption and investment.</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 contrast,
Argentina&#8217;s GDP growth contracted by approximately 2.5% for the second year in
a row largely due to the effects of the foreign exchange crisis. Moving
forward, according to BBVA Research, the slight improvement in the global
outlook, ongoing expansionary monetary policies in the region thanks to more
contained inflation and the easing of global uncertainty should support a
gradual recovery in South America, underpinned by the improvement of domestic
demand and investment. BBVA Research expects average GDP growth to be
approximately 1.3% in 2020 and 2.2% in 2021. However, this recovery is expected
to be heterogeneous across countries with growth rates above 3.0% in Peru and
Colombia, but converging to approximately 2.0% in Brazil, Uruguay and Chile. In
Argentina, BBVA Research expects that GDP will decline again by approximately
3.0% in 2020 as a whole, dragged down by the sharp adjustment of consumption
and investment, although it could grow slightly in 2021. The main risks in the
region are related to uncertainty around economic policies and the return of
social unrest in several countries that could put a brake on the expected
recovery in investment, in addition to more general risks in the context of the
global environment, particularly protectionism.</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,
GDP growth slowed in 2019 to 2.3% from 2.9% in the previous year, as the fiscal
stimulus faded, but also dragged down by the poor performance of investment and
exports as a result of the global slowdown and the strength of the U.S. dollar.
This was partly offset by a more accommodative monetary policy and the
resilience of private consumption, which was supported by strong labor figures.
According to BBVA Research, U.S. GDP growth is expected to slow down to 1.8% in
2020, although it is expected to gain some traction over the year due to lower
uncertainty and a somewhat more benign global outlook. As a result, growth is
expected to converge to potential rates at approximately 2.0% in 2021. Despite
the strength of private consumption, and an unemployment rate below 4.0%,
inflationary pressures remain contained. BBVA Research expects inflation to
increase slightly from 1.8% in 2019 to 2.0% in 2020 and 2.2% in 2021. This
outlook along with lower probability of recession should lead the Federal
Reserve to pause monetary policy.</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 Turkey, GDP growth
slowed again in 2019 to 0.8% driven by the sharp contraction of activity in the
second half of 2018, even though the Turkish economy technically emerged from
recession in the first quarter of 2019. The adjustment in domestic demand,
triggered by the sharp depreciation of the Turkish lira and higher interest
rates, seems to have led the recovery of private consumption and investment
over the second half of 2019, which was also supported by an easing monetary
policy since mid-2019. In contrast, the support of net exports faded. According
to BBVA Research, GDP growth is expected to accelerate to 4.0% in 2020 and 4.5%
in 2021 underpinned by a more accommodative monetary policy in a context of
slowing inflation (15.2% in 2019, 10.0% in 2020 and 8.6% in 2021) and the
correction of imbalances generated in previous years.</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-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 2019
compared to 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;line-height:115%;">The table below shows the Group&#8217;s
consolidated income statements for 2019 and 2018. The Group&#180;s consolidated
income statement for 2018 has been restated for comparative purposes due to the
entry into force of the Amendment to IAS 12. See &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">Presentation of Financial
Information&#8213;IAS 12&#8213;&#8221;Income Taxes&#8221; Amendment&#8221;.</font></i></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_5A21Income.1" style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td nowrap valign=top width=64% 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=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=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: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=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: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=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=14% 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" style="font-size:8.0pt;">2019</font></u></b></font></p>
  </td>
 <td valign=bottom width=12% 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" style="font-size:8.0pt;">2018</font></u></b></font></p>
  </td>
 <td valign=bottom 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=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:38.25pt;">
  <td width=64% style="height:38.25pt;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=26% style="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=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: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=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=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 valign=bottom 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;">31,061</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;">29,831</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;">4.1 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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=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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(12,859)</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;">(12,239)</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;">5.1 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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 valign=bottom width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">18,202</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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;">17,591</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;">3.5 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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;">Dividend income</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">162</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">157</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;">3.2 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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" lang=EN-US style="font-size:9.0pt;">Share of profit or loss of entities accounted
  for using the equity method</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">(42)</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;">(7)</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;">n.m. (3)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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;">Fee and commission income</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">7,522</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;">7,132</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;">5.5 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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;">Fee and commission expense</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">(2,489)</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;">(2,253)</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;">10.5 </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=64% 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" lang=EN-US style="font-size:9.0pt;">Net gains (losses) on financial assets and
  liabilities (1)</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">798</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;">1,234</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" style="font-size:9.0pt;">(35.3) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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;">Exchange differences, net</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">586</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;">(9)</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;">n.m. (3)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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;">Other operating income</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">671</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;">949</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;">(29.3) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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;">Other operating expense</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">(2,006)</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;">(2,101)</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;">(4.5) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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" lang=EN-US style="font-size:9.0pt;">Income on insurance and reinsurance contracts</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">2,890</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;">2,949</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;">(2.0) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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" lang=EN-US style="font-size:9.0pt;">Expense on insurance and reinsurance contracts</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,751)</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;">(1,894)</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;">(7.6) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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;">Gross income</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">24,542</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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;">23,747</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;">3.3 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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;">Administration costs</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(10,303)</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">(10,494)</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;">(1.8) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Personnel expense</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">(6,340)</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;">(6,120)</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;">3.6 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">Other administrative expense</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">(3,963)</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;">(4,374)</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;">(9.4) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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;">Depreciation and amortization</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(1,599)</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;">(1,208)</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;">32.4 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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 margin before provisions (2)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">12,639</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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;">12,045</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;">4.9 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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" lang=EN-US style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(663)</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">(373)</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;">77.7 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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" lang=EN-US 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 valign=bottom 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;">(4,151)</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;">(3,981)</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;">4.3 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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" lang=EN-US style="font-size:9.0pt;">Impairment or reversal of impairment on
  non-financial assets</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">(1,447)</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;">(138)</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;">n.m. (3)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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" lang=EN-US style="font-size:9.0pt;">Gains (losses) on derecognition of
  non-financial assets and subsidiaries, net</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">(3)</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;">78</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;">n.m. (3)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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" lang=EN-US style="font-size:9.0pt;">Negative goodwill recognized in profit or loss</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">-</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;">-</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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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" lang=EN-US 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 valign=bottom 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 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="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-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=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;">(97.4) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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" lang=EN-US style="font-size:9.0pt;">Operating profit/(loss) before tax</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">6,398</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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;">8,446</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;">(24.2) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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" lang=EN-US style="font-size:9.0pt;">Tax expense or income related to profit or
  loss from continuing operations</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">(2,053)</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;">(2,219)</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;">(7.5) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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;">Profit from continuing operations</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,345</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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;">6,227</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;">(30.2) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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" lang=EN-US style="font-size:9.0pt;">Profit from discontinued operations, net</font></font></p>
  </td>
 <td nowrap valign=bottom 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 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="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-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=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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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;">Profit</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,345</font></b></font></p>
  </td>
 <td nowrap valign=bottom 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;">6,227</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;">(30.2) </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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" lang=EN-US style="font-size:9.0pt;">Profit attributable to parent company</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">3,512</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">5,400</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;">(35.0) </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Profit attributable to non-controlling
  interests</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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;">833</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">827</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" style="font-size:9.0pt;">0.7 </font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(1) 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-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(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:14.2pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">102</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_108"></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;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The changes in our consolidated income statements for the years ended
December 31, 2019 and 2018 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;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 the years ended December 31, 2019 and 2018.</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_5A21Income.2" 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" lang=EN-US 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" 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" 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" 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 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 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;">2019</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" style="font-size:8.0pt;">2018</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" 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" 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" 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" 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" 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" style="font-size:9.0pt;">31,061 </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;">29,831 </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" style="font-size:9.0pt;">4.1 </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" 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" style="font-size:9.0pt;">(12,859)</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;">(12,239)</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" style="font-size:9.0pt;">5.1 </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" 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" style="font-size:9.0pt;">18,202 </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;">17,591 </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" style="font-size:9.0pt;">3.5 </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: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, 2019 amounted to &#8364;18,202
million, a 3.5% increase compared with the &#8364;17,591 million recorded for the year
ended December 31, 2018, mainly as a result of the increases in net interest
income in Mexico and the United States and, to a lesser extent, South America (as
described below). At constant exchange rates, net interest income increased by 4.3%.
The following factors, set out by region, were the main contributors to the 3.5%
increase in net interest income:</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:-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 United States: there was
a 5.2% period-on-period increase in net interest income due mainly to </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the appreciation of the U.S. dollar, partially
offset by higher funding costs. Additionally, while the Federal Reserve&#8217;s
increase in interest rates in 2018 positively impacted net interest income,
subsequent rate reductions in 2019 have negatively impacted results especially
in the second half of 2019</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:2.0cm;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;">Mexico: there was an 11.5%
period-on-period increase in net interest income </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">mainly
as a result of </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">increases in the volume of interest-earning assets</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> in the retail portfolio and volumes and yields in the
wholesale portfolio and, to a lesser extent, the appreciation of the Mexican
peso against the euro. In particular, net interest income benefited from the
increase in the average volume of loans and advances to customers, particularly
to enterprises and households. The increase was partially offset by greater
funding costs.&nbsp;</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:-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;">South America: there was a 6.2%
period-on-period increase in net interest income mainly as a result of </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the growth in the yield on interest-earning assets,
particularly in Argentina, and the increase in the average volume of
interest-earning assets in retail and corporate banking, mainly in Peru. Additionally,
the average volume of consumer and mortgage loans in Colombia increased during
2019. These effects were partially offset by the depreciation of the Argentine
peso against the euro. At constant exchange rates, there was a 15.2% increase.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:21.25pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:2.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The
increase in net interest income was partially offset by:</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:-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 1.4%
period-on-period decrease in net interest income mainly as a result of the
lower contribution from the ALCO portfolio.</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:-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 10.2%
period-on-period decrease in net interest income mainly as a result of </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the depreciation of the Turkish lira. At a constant
exchange rate, there was a 0.1% increase.</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,
2019 amounted to &#8364;162 million, a 3.2% increase compared with the &#8364;157 million
recorded for the year ended December 31, 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;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, 2019 amounted to a
&#8364;42 million loss, compared with the &#8364;7 million loss recorded for the year ended
December 31, 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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">103</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</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>
<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;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 fee and commission income for the years ended December
31, 2019 and 2018:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_5A21CI" 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" lang=EN-US 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;">2019</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;">2018</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;">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" style="font-size:9.0pt;">39</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;">Demand 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;">526</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;">451</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;">16.6 </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=EN-US style="font-size:9.0pt;">Credit and debit cards and TPVs</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;">3,083</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;">2,900</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;">6.3 </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;">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;">203</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;">194</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;">4.6 </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=EN-US style="font-size:9.0pt;">Transfers and other 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;">735</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;">689</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;">6.7 </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" 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;">172</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;">(3.4) </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;">Loan commitments given</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;">222</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;">223</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;">(0.4) </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" lang=EN-US style="font-size:9.0pt;">Other commitments and financial guarantees
  given</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;">392</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;">390</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;">0.5 </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;">1,066</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;">1,023</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;">4.2 </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" 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;">319</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;">325</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;">(1.7) </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" 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;">123</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;">1.0 </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 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;">642</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;">598</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;">7.4 </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" 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;">7,522</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;">7,132</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;">5.5 </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;">Fee and commission income increased
by 5.5% to &#8364;7,522 million for the year ended December 31, 2019 from the &#8364;7,132
million recorded for the year ended December 31, 2018, primarily due to the increase
in commissions relating to the use of credit and debit cards, as a result of&#160;
the increased level of transactions (mainly in Mexico), the appreciation of the
currencies of some of the main countries where the Group operates against the
euro and, to a lesser extent, the increase in the number of corporate banking
transactions and the positive performance of asset management activities in
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;"><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 the years ended December 31, 2019 and 2018 is as
follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_5A21CE" 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" lang=EN-US 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;">2019</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;">2018</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;">Demand 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;">36</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;">39</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;">(7.7) </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" 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;">1,662</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;">1,502</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;">10.7 </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=EN-US style="font-size:9.0pt;">Transfers and other 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;">150</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;">96</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;">56.3 </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;">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;">54</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;">48</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;">12.5 </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;">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;">30</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;">29</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;">3.4 </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;">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;">557</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;">539</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;">3.3 </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;">2,489</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;">2,253</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;">10.5 </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;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 10.5% to &#8364;2,489 million for the year ended December 31, 2019 from the
&#8364;2,253 million recorded for the year ended December 31, 2018, mainly due to the
increase in </font></font><a name="_cp_text_1_484"></a><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">commissions paid by the BBVA Group to other financial institutions in
connection with the use 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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">credit and debit cards, particularly in Mexico
and Turkey<a name="_cp_text_1_485"></a>, </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">and </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the
appreciation of the currencies of some 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;">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
by 35.3% to &#8364;798 million for the year ended December 31, 2019 compared to the
net gain of &#8364;1,234 million recorded for the year ended December 31, 2018,
mainly due to the weaker performance in Spain, due mainly to uneven market conditions,
lower portfolio sales in 2019, and the depreciation of the Turkish lira.
</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 table below provides a breakdown of net gains (losses) on financial
assets and liabilities for the years ended December 31, 2019 and 2018:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_5A21Rof" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap valign=bottom width=61% 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=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=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=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=61% 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=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" style="font-size:8.0pt;">2019</font></u></b></font></p>
  </td>
 <td valign=bottom width=13% 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;">2018</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=61% 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=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:25.5pt;">
  <td valign=top width=61% 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" lang=EN-US 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=13% 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:9.0pt;">239</font></font></p>
  </td>
 <td nowrap width=13% 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:9.0pt;">216</font></font></p>
  </td>
 <td nowrap width=13% 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" style="font-size:9.0pt;">10.6 </font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=top width=61% style="height:14.25pt;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" lang=EN-US style="font-size:9.0pt;">Financial assets at fair value through other
  comprehensive income</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;">169</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;">153</font></font></p>
  </td>
 <td nowrap width=13% 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:9.0pt;">10.8 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=61% 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=EN-US style="font-size:9.0pt;">Financial assets at amortized cost</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;">65</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;">51</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;">27.9 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=61% 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=EN-US style="font-size:9.0pt;">Other financial assets and liabilities </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;">4</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</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;">(63.9) </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=top 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" lang=EN-US style="font-size:9.0pt;">Gains (losses) on financial assets and
  liabilities held for trading, 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;">451</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;">707</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;">(36.2) </font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=61% 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" lang=EN-US 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=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:9.0pt;">143</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:9.0pt;">96</font></font></p>
  </td>
 <td nowrap width=13% 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;">49.0 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=top 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" lang=EN-US 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=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;">(94)</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;">143</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;">n.m. (1)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=61% 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" lang=EN-US style="font-size:9.0pt;">Gains (losses) from hedge accounting, net</font></font></p>
  </td>
 <td nowrap 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;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">59</font></font></p>
  </td>
 <td nowrap 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;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">72</font></font></p>
  </td>
 <td nowrap width=13% 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;">(18.1) </font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=61% 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" lang=EN-US style="font-size:9.0pt;">Net gains (losses) on financial assets and
  liabilities</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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">798</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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">1,234</font></b></font></p>
  </td>
 <td nowrap width=13% 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;">(35.3) </font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1)&#160;&#160; Not meaningful.</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 derecognition of financial assets and
liabilities not measured at fair value through profit or loss increased to &#8364;239
million in the year ended December 31, 2019 from &#8364;216 million in the year ended
December 31, 2018 mainly due to higher ALCO portfolio sales, in particular, in
Mexico and the United States.</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 decreased by 36.2%, to &#8364;451 million in the year ended December 31,
2019 from &#8364;707 million in the year ended December 31, 2018, mainly as a result
of the decrease in the volume of U.S. Treasury securities and the depreciation
of the Turkish lira, as well as </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the
decrease in gains associated with</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> derivatives
and interest-bearing securities 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;">Gains on non-trading financial assets
mandatorily at fair value through profit or loss increased to &#8364;143 million in
the year ended December 31, 2019 from &#8364;96 million in the year ended December
31, 2018, primarily due to </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">increased foreign-currency
transactions and the valuation and sale of the stake in Prisma Medios de Pago,
S.A. in Argentina</font><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:0cm;margin-right:0cm;margin-top:0cm;text-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 (losses) on financial assets and
liabilities designated at fair value through profit or loss amounted to a &#8364;94
million loss in the year ended December 31, 2019 compared to the &#8364;143 million
gain recorded in the year ended December 31, 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;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 increased to a &#8364;586 million
gain for the year ended December 31, 2019 from a &#8364;9 million loss for the year
ended December 31, 2018 mainly as a result of the appreciation of the
currencies of some of the main countries where BBVA operates against the euro
(in average terms).</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, 2019 decreased by 29.3% to &#8364;671 million compared with the &#8364;949 million
recorded for the year ended December 31, 2018, mainly as a result of lower
income from real estate related services in Spain </font></font><a name="_cp_text_1_500"></a><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">following the
various dispositions of real estate related assets completed </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(see &#8220;&#8212;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Results of Operations by Operating
Segment</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8212;&nbsp;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> Results of Operations by Operating Segment for 2019 Compared
with 2018&#8212;Spain</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) and, to a lesser extent, decreased dividends from
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;">Other operating expense for the year ended December
31, 2019 amounted to &#8364;2,006 million, a 4.5% decrease compared with the &#8364;2,101
million recorded for the year ended December 31, 2018, mainly as a result of
lower expense from real estate related services in Spain, partially offset mainly
by the impact of the hyperinflation adjustment in Argentina.</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">105</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

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</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">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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;">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, 2019 was &#8364;2,890 million, a 2.0% decrease
compared with the &#8364;2,949 million of income recorded for the for the year ended December
31, 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;">Expense on insurance and reinsurance contracts
for the year ended December 31, 2019 was &#8364;1,751 million, a 7.6% decrease
compared with the &#8364;1,894 million expense recorded for the year ended December
31, 2018, mainly as a result of the lower insurance activity related to
insurance-savings products in Spain (through BBVA Seguros) and the depreciation
of the Argentine peso 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;">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, 2019
amounted to &#8364;10,303 million, a 1.8% decrease compared with the &#8364;10,494 million
recorded for the year ended December 31, 2018, mainly as a result of the lower
rent expense recorded under &#8220;Rent expense&#8221; (within &#8220;Administration costs&#8221;) due
to the implementation of IFRS 16 on January 1, 2019, which had the effect of
accounting for the amortization of right-to-use assets under the heading
&#8220;Depreciation and amortization&#8221;, partially offset by increases in wages and
salaries and increased technology costs.</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, 2019 and
2018:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_5A21Per" 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" lang=EN-US 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;">2019</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;">2018</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;">4,920</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;">4,786</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;">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;">780</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;">722</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;">8.0 </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 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;">113</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;">89</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;">27.0 </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;">50</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;">58</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;">(13.8) </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;">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;">478</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;">465</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:12.75pt;">
  <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;">6,340</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;">6,120</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;">3.6 </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: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, 2019 and 2018:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_5A21Adm" 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" lang=EN-US 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;">2019</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;">2018</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;">1,216 </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;">1,133 </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;">7.3 </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;">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;">218 </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;">235 </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;">(7.2) </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;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;">317 </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;">336 </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;">Properties, 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;">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" style="font-size:9.0pt;">982 </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;">(43.8) </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;text-align:justify;"><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#160;Of which:</font></i></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;">106 </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;">552 </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;">(80.8) </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" lang=EN-US 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;">401 </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;">417 </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;">(3.8) </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;">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;">1,258 </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;">1,271 </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;">(1.0) </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;">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;">3,963 </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;">4,374 </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;">(9.4) </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;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, 2019 was &#8364;1,599 million, a 32.4% increase compared with the &#8364;1,208
million recorded for the year ended December 31, 2018, mainly as a result of
the implementation of IFRS 16, which had the effect of accounting for the
amortization of right-to-use assets under the heading &#8220;Right-of-use assets&#8221;
(within &#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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">106</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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;"><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;">Provisions or reversal of provisions and other results</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 and other
results for the year ended December 31, 2019 amounted to an expense of &#8364;663
million, a 77.7% increase compared with the &#8364;373 million expense recorded for
the year ended December 31, 2018, mainly as a result of increased provisions
for commitments and guarantees given in Turkey and Spain, the increase in
provisions for various purposes, particularly in Argentina, and the higher
pension and pre-early retirement provisions in Spain, partially offset by lower
real estate-related costs and the reversal of provisions in 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;"><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, 2019 was an expense of &#8364;4,151
million, a 4.3% increase compared with the &#8364;3,981 million expense recorded for
the year ended December 31, 2018, mainly due to the increase in allowances for
loan losses driven by the contagion rules for retail exposures (&#8216;pulling
effect&#8217;) and macroeconomic deterioration, especially in the United States,
Mexico and South America.</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 addition, there was credit
quality deterioration in Argentina and Peru (which more than offset the impact
of the depreciation of the Argentine peso). In the United States, </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">impairment on financial assets increased</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> mainly due to the higher losses in the consumer loan
portfolios, as well as increases in the loss allowances for individually
evaluated non-performing loans in the commercial, financial and agricultural
loan portfolios. In addition, the year-on-year comparison is affected by the
release of provisions in 2018 related to hurricanes in 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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">107</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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-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 impairment or reversal of
impairment on financial assets not measured at fair value through profit or
loss or net gains by modification for the years ended December 31, 2019 and
2018:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_5A21Impaired" style="border-collapse:collapse;width:100%;">
 <tr style="height:24.75pt;">
  <td nowrap valign=bottom width=51% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 valign=bottom width=33% 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;">Year Ended December 31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% 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:8.0pt;">&nbsp;</font></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 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=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" style="font-size:8.0pt;">2019</font></u></b></font></p>
  </td>
 <td valign=bottom width=16% 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" style="font-size:8.0pt;">2018</font></u></b></font></p>
  </td>
 <td valign=bottom width=16% 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;">Change</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 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=33% 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>
 <td width=16% 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 %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td nowrap valign=top width=51% 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" lang=EN-US 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=right style="border:none;margin:0cm;margin-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=16% 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;">1</font></font></p>
  </td>
 <td nowrap width=16% 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:15.0pt;">
  <td nowrap valign=top width=51% 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" lang=EN-US 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,069</font></font></p>
  </td>
 <td nowrap valign=bottom 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;">3,980</font></font></p>
  </td>
 <td nowrap width=16% 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;">2.2</font></font></p>
  </td>
 </tr>
<tr style="height:40.35pt;">
  <td width=51% 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" lang=EN-US 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></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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">4,151</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:double black 2.25pt;height:40.35pt;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;">3,981</font></b></font></p>
  </td>
 <td nowrap width=16% style="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" style="font-size:9.0pt;">4.3</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(1)&#160;&#160; Not meaningful.</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;line-height:115%;">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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Impairment or reversal of impairment
on non-financial assets for the year ended December 31, 2019 amounted to an
expense of &#8364;1,447 million, compared with the &#8364;138 million expense recorded for
the year ended December 31, 2018, mainly as a result of the goodwill impairment
losses recognized in the United States CGU, which have been recorded under this
line item in our consolidated income statement for the year ended December 31,
2019, and assigned to the Corporate Center. This impairment had a net negative impact
on the &#8220;Profit attributable to parent company&#8221; of &#8364;1,318 million, and was
mainly the result of the negative evolution of interest rates (following the
interest rate cuts approved by the Federal Reserve), especially in the second
half of 2019, which together with the slowdown of the economy, caused the
expected evolution of results to be below the previous estimate. For additional
information, see Note 18.1 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;"><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 (losses) on derecognition of non-financial
assets and subsidiaries, for the year ended December 31, 2019 amounted to a &#8364;3
million loss compared with the &#8364;78 million gain recorded for the year ended December
31, 2018. Capital gains in the year ended December 31, 2018 related mainly to
the sale of portfolios in the Mexico and Spain 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, 2019 was &#8364;21 million, compared with the &#8364;815
million recorded 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, 2018, mainly due to the
result of the sale of BBVA Chile and the Cerberus Transaction recognized 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;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, 2019 amounted to &#8364;6,398 million, a
24.2% decrease compared with the &#8364;8,446 million operating profit before tax
recorded for the year ended December 31, 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;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, 2019 amounted to &#8364;2,053 million, a 7.5%
decrease compared with the &#8364;2,219 million expense recorded for the year ended December
31, 2018, mainly due to </font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the decrease in operating
profit before tax. The year-on-year variation was also affected by the </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">higher
dividends and capital gains exempt from taxation in 2018 (which included those
recognized in the 2017 tax declaration presented in July 2018)</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> in Spain and the recognition of the income tax
deductibility for hyperinflation in Argenti</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">na. Additionally, the tax
expense related to the sale of BBVA Chile was recognized in 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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">108</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</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-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, 2019 amounted to &#8364;4,345 million, a 30.2% decrease compared
with the &#8364;6,227 million recorded for the year ended December 31, 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;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, 2019 amounted to
&#8364;3,512 million, a 35.0% decrease compared with the &#8364;5,400 million recorded for
the year ended December 31, 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;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, 2019 amounted to &#8364;833 million, a 0.7% increase
compared with the &#8364;827 million profit attributable to non-controlling interests
recorded for the year ended December 31, 2018, mainly as a result of the
increase in profit in South America. </font></font></p>

<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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">109</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</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>
<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" lang=EN-US style="font-size:10.0pt;">BBVA Group results of operations for 2018 compared with
2017</font></b></font></h3>

<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 table below shows the Group&#8217;s consolidated income statements for 2018
and 2017, which have been restated for comparative purposes due to the entry
into force of the Amendment to IAS 12. See &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Presentation of Financial
Information&#8213;IAS 12&#8213;&#8221;Income Taxes&#8221; Amendment&#8221;.</font></i></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_5A21IncomeN1.1" 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 rowspan=2 valign=bottom 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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US 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=EN-US 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" lang=EN-US 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=EN-US 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" lang=EN-US 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" lang=EN-US 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=EN-US 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=EN-US 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=24% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border: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-US 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=EN-US 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" lang=EN-US 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" lang=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">1.8 </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" lang=EN-US 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" lang=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">6.1 </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" lang=EN-US 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" lang=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">(0.9) </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" lang=EN-US 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" lang=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">(53.0) </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" lang=EN-US 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" lang=EN-US 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=EN-US 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=EN-US 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;"><font color=black face="Times New Roman,serif" lang=EN-US 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" lang=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">(0.3) </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;"><font color=black face="Times New Roman,serif" lang=EN-US 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" lang=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">1.1 </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" lang=EN-US 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" lang=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">31.6 </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" lang=EN-US 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" lang=EN-US 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=EN-US 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=EN-US 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;"><font color=black face="Times New Roman,serif" lang=EN-US 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" lang=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">(34.1) </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" lang=EN-US 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" lang=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">(5.5) </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" lang=EN-US 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" lang=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">(11.8) </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" lang=EN-US 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" lang=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">(16.6) </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" lang=EN-US 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" lang=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">(6.0) </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" lang=EN-US 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" lang=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">(5.6) </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" lang=EN-US 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" lang=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">(6.9) </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" lang=EN-US 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" lang=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">(3.7) </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" lang=EN-US 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" lang=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">(12.9) </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" lang=EN-US 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" lang=EN-US 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=EN-US style="font-size:9.0pt;">12,770</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=EN-US style="font-size:9.0pt;">(5.7) </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" lang=EN-US style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</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=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">(49.9) </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" lang=EN-US 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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3,981)</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=EN-US style="font-size:9.0pt;">(4,803)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(17.1) </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" lang=EN-US 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" lang=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">(62.1) </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" lang=EN-US 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" lang=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">66.0 </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" lang=EN-US 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" lang=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">-</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" lang=EN-US 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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">815</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=EN-US style="font-size:9.0pt;">26</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">n.m. (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" lang=EN-US 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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US 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=EN-US 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=EN-US style="font-size:9.0pt;">21.9 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(2,219)</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=EN-US style="font-size:9.0pt;">(2,174)</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=EN-US style="font-size:9.0pt;">2.1 </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" lang=EN-US 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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">6,227</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=EN-US style="font-size:9.0pt;">4,757</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=EN-US style="font-size:9.0pt;">30.9 </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" lang=EN-US 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US 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=EN-US style="font-size:9.0pt;">-</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" lang=EN-US 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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">6,227</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=EN-US style="font-size:9.0pt;">4,757</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=EN-US style="font-size:9.0pt;">30.9 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">5,400</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=EN-US style="font-size:9.0pt;">3,514</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=EN-US style="font-size:9.0pt;">53.7 </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;"><font color=black face="Times New Roman,serif" lang=EN-US 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" lang=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">(33.5) </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:4.0pt;">&nbsp;</font></font></p>

</div>


<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(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-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(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:8.0pt;">(3)&#160;&#160; Not meaningful.</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: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 2018 and 2017 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: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 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;">2018
and 2017</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 title="F_20F_SMSR_5A21IncomeN1.2" 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">2018</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" lang=EN-US style="font-size:8.0pt;">2017</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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=EN-US style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">29,831</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" lang=EN-US 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=EN-US style="font-size:9.0pt;">1.8 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(12,239)</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" lang=EN-US 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=EN-US style="font-size:9.0pt;">6.1 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">17,591</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" lang=EN-US 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=EN-US style="font-size:9.0pt;">(0.9) </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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">110</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_116"></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-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, 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 changes in Spain (described below). Excluding the impact
of the depreciation of these currencies, net interest income increased by 10.8%
mainly as a result of the growth in loans. The following factors, set out by
region, were the main contributors toward the 0.9% decrease in net interest
income:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;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: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 style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:normal;">Spain: there was a 2.9%
year-on-year decrease in net interest income mainly as a result of the decrease
in the average volume of interest-earning assets and the increase in the cost
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></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: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 style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:normal;">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;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:normal;">South America: there was a
6.0% year-on-year decrease in net interest income as a result of the
depreciation of the currencies in the region against the euro as well as the
sale of BBVA Chile.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;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-GB style="font-size:10.0pt;line-height:normal;">The decrease was partially
offset by:</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 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 style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:normal;">The 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 increase) and to measures adopted by BBVA USA 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;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:normal;">Mexico: there was a 1.7%
year-on-year increase in net interest income mainly as a result of the higher
net interest income from the retail portfolio, the lower cost of deposits and
the increase in the average volume of loans and advances to customers.</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;">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,
2018 amounted to &#8364;157 million, a 53.0% 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>

<p style="border:none;margin:0cm;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;"><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 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:0cm;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;"><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;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, 2018 and 2017 is as
follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_5A21CI.N1" 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" lang=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">Demand 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=EN-US 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=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">Credit and debit cards and TPVs</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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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" lang=EN-US style="font-size:9.0pt;">Transfers and other 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=EN-US style="font-size:9.0pt;">689 </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=EN-US style="font-size:9.0pt;">648 </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=EN-US style="font-size:9.0pt;">6.3 </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=EN-US 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=EN-US style="font-size:9.0pt;">178 </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=EN-US style="font-size:9.0pt;">200 </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=EN-US 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=EN-US style="font-size:9.0pt;">Loan commitments given</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=EN-US 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=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">Other commitments and financial guarantees
  given</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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">(15.7) </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=EN-US 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=EN-US 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=EN-US 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=EN-US 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" lang=EN-US 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=EN-US style="font-size:9.0pt;">598 </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=EN-US style="font-size:9.0pt;">645 </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=EN-US style="font-size:9.0pt;">(7.3) </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=EN-US 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=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">(0.3) </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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">111</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_117"></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;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;">decreased by 0.3% to &#8364;7,132 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, 2018</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> from &#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;">, </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 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:0cm;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;"><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 2018 and 2017 is as follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_5A21CE.N1" 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" lang=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">Demand 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=EN-US 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=EN-US style="font-size:9.0pt;">45</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=EN-US style="font-size:9.0pt;">(13.8) </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=EN-US 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=EN-US 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=EN-US 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=EN-US 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" lang=EN-US style="font-size:9.0pt;">Transfers and other 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=EN-US 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=EN-US style="font-size:9.0pt;">123</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=EN-US style="font-size:9.0pt;">(21.7) </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=EN-US 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=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">(19.6) </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=EN-US 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=EN-US style="font-size:9.0pt;">29</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=EN-US style="font-size:9.0pt;">38</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=EN-US style="font-size:9.0pt;">(23.8) </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=EN-US 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=EN-US style="font-size:9.0pt;">539</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=EN-US style="font-size:9.0pt;">506</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=EN-US style="font-size:9.0pt;">6.6 </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=EN-US 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=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">1.1 </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:10.0pt;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 1.1% to
&#8364;2,253 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;">, 2018 from &#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, 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>


<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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">112</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_118"></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;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 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;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, 2018 and 2017:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_5A21Rof.N1" 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" lang=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">216</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" lang=EN-US style="font-size:9.0pt;">985</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" lang=EN-US style="font-size:9.0pt;">(78.1) </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 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=EN-US style="font-size:9.0pt;">Financial assets at fair value through other
  comprehensive 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=EN-US style="font-size:9.0pt;">153</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=EN-US style="font-size:9.0pt;">843</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=EN-US style="font-size:9.0pt;">(81.9) </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 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=EN-US style="font-size:9.0pt;">Financial assets at amortized cost</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=EN-US style="font-size:9.0pt;">51</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=EN-US style="font-size:9.0pt;">133</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=EN-US style="font-size:9.0pt;">(61.6) </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 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=EN-US style="font-size:9.0pt;">Other financial assets and liabilities </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=EN-US style="font-size:9.0pt;">12</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=EN-US style="font-size:9.0pt;">10</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=EN-US style="font-size:9.0pt;">19.2 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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=EN-US 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:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">707</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=EN-US style="font-size:9.0pt;">218</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=EN-US style="font-size:9.0pt;">224.3 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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=EN-US 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 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=EN-US 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=EN-US 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" lang=EN-US style="font-size:9.0pt;">n.m. (1)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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=EN-US 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:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">143</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=EN-US style="font-size:9.0pt;">(56)</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=EN-US style="font-size:9.0pt;">n.m. (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" lang=EN-US 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:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">72</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=EN-US style="font-size:9.0pt;">(209)</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=EN-US style="font-size:9.0pt;">n.m. (1)</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap valign=top width=55% 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" lang=EN-US 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: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" lang=EN-US style="font-size:9.0pt;">1,234</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" lang=EN-US style="font-size:9.0pt;">938</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=13% 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" lang=EN-US style="font-size:9.0pt;">31.6 </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-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160;&#160; Not meaningful.</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;">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:0cm;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;"><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:0cm;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;"><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>


<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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">113</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_119"></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;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, 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 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>

<p style="border:none;margin:0cm;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;"><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.</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 title="F_20F_SMSR_5A21Per.N1" 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" lang=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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: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
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 title="F_20F_SMSR_5A21Adm.N1" 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" lang=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">1,018 </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=EN-US style="font-size:9.0pt;">11.3 </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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">Properties, 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=EN-US 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=EN-US 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=EN-US 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;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#160;Of which:</font></i></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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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" lang=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US style="font-size:9.0pt;">1,412 </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=EN-US style="font-size:9.0pt;">(10.0) </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" lang=EN-US 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=EN-US 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=EN-US 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3.7) </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;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;"><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>


<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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">114</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_120"></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;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 and other results</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 and other
results 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:0cm;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;"><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 a loss allowance 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;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
the breakdown of impairment or reversal of impairment on financial assets not
measured at fair value through profit or loss or net gains by modification for
the years ended December 31, 2018 and 2017:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_5A21Impaired1" style="border-collapse:collapse;width:100%;">
 <tr style="height:29.25pt;">
  <td nowrap valign=bottom width=51% style="height:29.25pt;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-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 valign=bottom width=33% 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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Year Ended
  December 31,</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=16% style="height:29.25pt;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-US style="font-size:8.0pt;">&nbsp;</font></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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US 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=EN-US 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: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=EN-US style="font-size:8.0pt;">2017</font></u></b></font></p>
  </td>
 <td valign=bottom width=16% 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=EN-US style="font-size:8.0pt;">Change</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=33% 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=EN-US style="font-size:8.0pt;">(In Millions of
  Euros)</font></b></font></p>
  </td>
 <td width=16% 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=EN-US style="font-size:8.0pt;">(In %)</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td nowrap valign=top width=51% 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" lang=EN-US 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1</font></font></p>
  </td>
 <td nowrap valign=bottom width=16% 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=EN-US style="font-size:9.0pt;">1,127</font></font></p>
  </td>
 <td nowrap width=16% 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=EN-US style="font-size:9.0pt;">(99.9)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=top width=51% 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" lang=EN-US 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3,980</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">3,676</font></font></p>
  </td>
 <td nowrap width=16% 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" lang=EN-US style="font-size:9.0pt;">8.3</font></font></p>
  </td>
 </tr>
<tr style="height:48.75pt;">
  <td width=51% style="height:48.75pt;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=EN-US 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></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:double black 2.25pt;height:48.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">3,981</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:double black 2.25pt;height:48.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">4,803</font></b></font></p>
  </td>
 <td nowrap width=16% style="height:48.75pt;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=EN-US style="font-size:9.0pt;">(17.1)</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;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;"><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 Spain operating segments.</font></font></p>

<p style="border:none;margin:0cm;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;"><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:0cm;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;"><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: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>


<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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">115</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_121"></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;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: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;2,219 million, a
2.1% increase compared with the &#8364;2,174 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:0cm;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;"><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;6,227 million, a 30.9% increase
compared with the &#8364;4,757 million recorded for the year ended December 31, 2017.</font></font></p>

<p style="border:none;margin:0cm;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;"><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;5,400 million, a 53.7% increase compared with the &#8364;3,514 million recorded for
the year ended December 31, 2017.</font></font></p>

<p style="border:none;margin:0cm;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;"><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>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:43.95pt;margin-right:0cm;margin-top:0cm;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;text-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;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 tables set forth below show the income statement of our operating
segments and Corporate Center for the years indicated. In addition, with
respect to 2019 and 2018, the income statement of our operating segments and
Corporate Center is reconciled to the consolidated income statement of the
Group. The &#8220;Adjustments&#8221; column in such years relates to the differences
between the Group income statement and the income statement calculated in
accordance with management operating segment reporting criteria for 2019 and
2018. In particular:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;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;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;">in 2019, such differences relate to the accounting of: (i) the
impairment of goodwill in the United States&#8217; CGU, which amounted to &#8364;1,318
million for the year ended December 31, 2019, and (ii) the impairment or
reversal of impairment on tangible assets and other intangible assets, which
amounted to &#8364;129 million for the year ended December 31, 2019. In this section,
information relating to our Corporate Center for 2019 has been presented under
management criteria pursuant to which such losses have been recognized under
the heading &#8220;Provisions or reversal of provisions and other results&#8221;. However,
for purposes of the Group financial statements, such losses are presented under
the heading &#8220;Impairment or reversal of impairment on non-financial assets&#8221;; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:54.0pt;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="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">in 2018, such differences
relate to the accounting of the capital gain resulting from the sale of our
stake in BBVA Chile (which amounted to &#8364;633 million, net of taxes). In this
section, information relating to our Corporate Center 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 financial statements, such capital gain has been recorded
under &#8220;Profit (loss) from non-current assets and disposal groups classified as
held for sale not qualifying as discontinued operations&#8221;.</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;">Consolidated
financial information for the years ended December 31, 2018 and 2017 has been
restated to reflect the new segment reporting structure adopted in 2019 and the
adoption of the Amendment to IAS 12. For additional information, see </font></font><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Presentation of Financial Information&#8212;Changes
in Operating Segments&#8221; </font></i></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">and Note
6 to the Consolidated Financial Statements and </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&#8213;IAS
12&#8213;&#8221;Income Taxes&#8221; Amendment&#8221;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, respectively.
</font></font></p>


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<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_ReconciliationN" style="border-collapse:collapse;width:100%;">
 <tr style="height:9.75pt;">
  <td nowrap valign=bottom width=28% style="height:9.75pt;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-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=9 width=72% 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">For the Year Ended
  December 31, 2019</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td nowrap valign=bottom width=28% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></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" lang=EN-US style="font-size:8.0pt;">Spain</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" lang=EN-US style="font-size:8.0pt;">The United States</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" lang=EN-US style="font-size:8.0pt;">Mexico</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" lang=EN-US style="font-size:8.0pt;">Turkey </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" lang=EN-US 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: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" lang=EN-US style="font-size:8.0pt;">Rest of Eurasia</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" lang=EN-US style="font-size:8.0pt;">Corporate Center</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" lang=EN-US style="font-size:8.0pt;">Adjustments (1)</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" lang=EN-US style="font-size:8.0pt;">Group </font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=28% style="height:11.25pt;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=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=7 width=56% 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(In Millions of
  Euros)</font></b></font></p>
  </td>
 <td width=8% style="border:none;height:11.25pt;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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% style="border:none;height:11.25pt;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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=28% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Net interest income</font></b></font></p>
  </td>
 <td nowrap 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3,645</font></b></font></p>
  </td>
 <td nowrap 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2,395</font></b></font></p>
  </td>
 <td nowrap 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">6,209</font></b></font></p>
  </td>
 <td nowrap 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2,814</font></b></font></p>
  </td>
 <td nowrap 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">3,196</font></b></font></p>
  </td>
 <td nowrap 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">175</font></b></font></p>
  </td>
 <td nowrap width=8% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(233)</font></b></font></p>
  </td>
 <td nowrap 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">18,202</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=28% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:9.0pt;">Net fees and commissions</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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" lang=EN-US style="font-size:9.0pt;">1,751</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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" lang=EN-US style="font-size:9.0pt;">644</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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" lang=EN-US style="font-size:9.0pt;">1,298</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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" lang=EN-US style="font-size:9.0pt;">717</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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" lang=EN-US style="font-size:9.0pt;">557</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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" lang=EN-US style="font-size:9.0pt;">139</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(73)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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" lang=EN-US style="font-size:9.0pt;">5,033</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td 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;"><font color=black face="Times New Roman,serif" lang=EN-US 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=8% style="height:21.0pt;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" lang=EN-US style="font-size:9.0pt;">239</font></font></p>
  </td>
 <td nowrap width=8% style="height:21.0pt;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" lang=EN-US style="font-size:9.0pt;">173</font></font></p>
  </td>
 <td nowrap width=8% style="height:21.0pt;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" lang=EN-US style="font-size:9.0pt;">310</font></font></p>
  </td>
 <td nowrap width=8% style="height:21.0pt;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" lang=EN-US style="font-size:9.0pt;">10</font></font></p>
  </td>
 <td nowrap width=8% style="height:21.0pt;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" lang=EN-US style="font-size:9.0pt;">576</font></font></p>
  </td>
 <td nowrap width=8% style="height:21.0pt;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" lang=EN-US style="font-size:9.0pt;">131</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(54)</font></font></p>
  </td>
 <td nowrap width=8% style="height:21.0pt;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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:21.0pt;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" lang=EN-US style="font-size:9.0pt;">1,383</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=28% 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" lang=EN-US style="font-size:9.0pt;">Other operating income and expense, net (3)</font></font></p>
  </td>
 <td nowrap width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">98</font></font></p>
  </td>
 <td nowrap width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">12</font></font></p>
  </td>
 <td nowrap width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">212</font></font></p>
  </td>
 <td nowrap width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">50</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(479)</font></font></p>
  </td>
 <td nowrap width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">9</font></font></p>
  </td>
 <td nowrap width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">21</font></font></p>
  </td>
 <td nowrap width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(77)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=28% style="height: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=EN-US style="font-size:9.0pt;">Gross income</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">5,734</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">3,223</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">8,029</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">3,590</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">3,850</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">454</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(339)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">24,542</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=28% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:9.0pt;">Administration costs</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2,777)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,747)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2,299)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,036)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,403)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(275)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(765)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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" lang=EN-US style="font-size:9.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(10,303)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=28% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:9.0pt;">Depreciation and amortization</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(476)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(219)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(346)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(179)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(171)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(18)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(190)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,599)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=28% style="height: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=EN-US style="font-size:9.0pt;">Net margin before provisions (4)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">2,480</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">1,257</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">5,384</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">2,375</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">2,276</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">161</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,294)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">12,639</font></b></font></p>
  </td>
 </tr>
<tr style="height:34.5pt;">
  <td width=28% style="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;"><font color=black face="Times New Roman,serif" lang=EN-US 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=8% style="border:none;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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(216)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(550)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,698)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(906)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(777)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(4)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:34.5pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(4,151)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=28% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</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" lang=EN-US style="font-size:9.0pt;">(386)</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" lang=EN-US style="font-size:9.0pt;">(2)</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" lang=EN-US style="font-size:9.0pt;">5</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" lang=EN-US style="font-size:9.0pt;">(128)</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" lang=EN-US style="font-size:9.0pt;">(103)</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" lang=EN-US style="font-size:9.0pt;">6</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" lang=EN-US style="font-size:9.0pt;">(1,481)</font></font></p>
  </td>
 <td nowrap width=8% 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" lang=EN-US style="font-size:9.0pt;">1,447</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" lang=EN-US style="font-size:9.0pt;">(643)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=28% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:9.0pt;">Impairment or reversal of impairment on
  non-financial assets</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,447)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,447)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=28% style="height: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=EN-US style="font-size:9.0pt;">Operating&#160; profit/ (loss) before tax</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">1,878</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">705</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">3,691</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">1,341</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">1,396</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">163</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2,775)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">6,398</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=28% 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Tax expense or income related to profit or
  loss from continuing operations</font></font></p>
  </td>
 <td nowrap width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(489)</font></font></p>
  </td>
 <td nowrap width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(115)</font></font></p>
  </td>
 <td nowrap width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(992)</font></font></p>
  </td>
 <td nowrap width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(312)</font></font></p>
  </td>
 <td nowrap width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(368)</font></font></p>
  </td>
 <td nowrap width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(36)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;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-US style="font-size:9.0pt;">258</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:18.75pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2,053)</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=28% 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" lang=EN-US style="font-size:9.0pt;">Profit from continuing operations </font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1,389</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">590</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2,699</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1,029</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1,028</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">127</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" lang=EN-US style="font-size:9.0pt;">(2,517)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:14.25pt;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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">4,345</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Profit from discontinued operations/ Profit
  from corporate operations, net</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;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-US style="font-size:9.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=28% style="height: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=EN-US style="font-size:9.0pt;">Profit</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">1,389</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">590</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">2,699</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">1,029</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">1,028</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">127</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2,517)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">4,345</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=28% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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-US style="font-size:9.0pt;">Profit attributable to non-controlling
  interests </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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(524)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(307)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(833)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">1,386</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">590</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">2,699</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">506</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">721</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">127</font></b></font></p>
  </td>
 <td nowrap width=8% 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=EN-US style="font-size:9.0pt;">(2,517)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">3,512</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(1)&#160; Adjustments in 2019 correspond to the accounting of (i) the impairment
of goodwill in the United States&#8217; CGU, which amounted to &#8364;1,318 million for the
year ended December 31, 2019, and (ii) the impairment or reversal of impairment
on tangible assets and other intangible assets, which amounted to &#8364;129 million
for the year ended December 31, 2019. In this section, information relating to
our Corporate Center for 2019 has been presented under management criteria
pursuant to which such losses have been recognized under the heading
&#8220;Provisions or reversal of provisions and other results&#8221;. However, for purposes
of the Group financial statements, such losses are presented under the heading
&#8220;Impairment or reversal of impairment on non-financial assets&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:4.0pt;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:8.0pt;">(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 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;margin-left:14.2pt;margin-right:0cm;margin-top:4.0pt;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:8.0pt;">(3)&#160; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Includes
&#8220;Dividend income&#8221;, &#8220;Share of profit or loss of entities accounted for using the
equity method&#8221;, &#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;margin-left:14.2pt;margin-right:0cm;margin-top:4.0pt;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:8.0pt;">(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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">117</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_123"></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 title="F_20F_SMSR_ReconciliationN1" 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=7 valign=bottom width=53% 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=EN-US style="font-size:8.0pt;">For the Year Ended
  December 31, 2018</font></b></font></p>
  </td>
 <td valign=bottom width=8% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=1% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom 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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=8% 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:20.25pt;">
  <td nowrap valign=bottom width=23% style="height:20.25pt;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-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=8% 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" lang=EN-US style="font-size:8.0pt;">Spain</font></b></font></p>
  </td>
 <td width=8% 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" lang=EN-US style="font-size:8.0pt;">The United States</font></b></font></p>
  </td>
 <td width=8% 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" lang=EN-US style="font-size:8.0pt;">Mexico</font></b></font></p>
  </td>
 <td width=8% 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" lang=EN-US style="font-size:8.0pt;">Turkey </font></b></font></p>
  </td>
 <td width=7% 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" lang=EN-US style="font-size:8.0pt;">South America</font></b></font></p>
  </td>
 <td width=7% 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" lang=EN-US style="font-size:8.0pt;">Rest of Eurasia</font></b></font></p>
  </td>
 <td width=7% 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" lang=EN-US style="font-size:8.0pt;">Corporate Center</font></b></font></p>
  </td>
 <td width=8% 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" lang=EN-US style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td width=1% 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;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" lang=EN-US style="font-size:8.0pt;">Adjustments (1)</font></b></font></p>
  </td>
 <td width=8% 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" lang=EN-US style="font-size:8.0pt;">Group </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=23% 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=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=7 width=53% 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" lang=EN-US style="font-size:8.0pt;">(In Millions of
  Euros)</font></b></font></p>
  </td>
 <td width=8% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=1% 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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Net interest income</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">3,698</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">2,276</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">5,568</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">3,135</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">3,009</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">175</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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(269)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">17,591</font></b></font></p>
  </td>
 <td nowrap width=1% 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">17,591</font></b></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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Net fees and commissions</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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" lang=EN-US style="font-size:9.0pt;">1,682</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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" lang=EN-US style="font-size:9.0pt;">596</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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" lang=EN-US style="font-size:9.0pt;">1,205</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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" lang=EN-US style="font-size:9.0pt;">686</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;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" lang=EN-US style="font-size:9.0pt;">631</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;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" lang=EN-US style="font-size:9.0pt;">138</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(59)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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" lang=EN-US style="font-size:9.0pt;">4,879</font></font></p>
  </td>
 <td nowrap width=1% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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" lang=EN-US style="font-size:9.0pt;">4,879</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=23% 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" lang=EN-US 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=8% style="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" lang=EN-US style="font-size:9.0pt;">529</font></font></p>
  </td>
 <td nowrap width=8% style="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" lang=EN-US style="font-size:9.0pt;">109</font></font></p>
  </td>
 <td nowrap width=8% style="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" lang=EN-US style="font-size:9.0pt;">223</font></font></p>
  </td>
 <td nowrap width=8% style="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" lang=EN-US style="font-size:9.0pt;">11</font></font></p>
  </td>
 <td nowrap width=7% style="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" lang=EN-US style="font-size:9.0pt;">405</font></font></p>
  </td>
 <td nowrap width=7% style="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" lang=EN-US style="font-size:9.0pt;">101</font></font></p>
  </td>
 <td nowrap width=7% 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=EN-US style="font-size:9.0pt;">(155)</font></font></p>
  </td>
 <td nowrap width=8% style="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" lang=EN-US style="font-size:9.0pt;">1,223</font></font></p>
  </td>
 <td nowrap width=1% style="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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="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" lang=EN-US style="font-size:9.0pt;">1,223</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Other operating income and expense, net (3)</font></font></p>
  </td>
 <td nowrap width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">59</font></font></p>
  </td>
 <td nowrap width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">9</font></font></p>
  </td>
 <td nowrap width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">197</font></font></p>
  </td>
 <td nowrap width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">70</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(344)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">63</font></font></p>
  </td>
 <td nowrap width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">54</font></font></p>
  </td>
 <td nowrap width=1% 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=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">54</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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Gross income</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">5,968</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">2,989</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">7,193</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">3,901</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">3,701</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">414</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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(420)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">23,747</font></b></font></p>
  </td>
 <td nowrap width=1% 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">23,747</font></b></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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Administration costs</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3,027)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,683)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2,139)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,109)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,584)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(281)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(672)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(10,494)</font></font></p>
  </td>
 <td nowrap width=1% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;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" lang=EN-US style="font-size:9.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(10,494)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Depreciation and amortization</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(308)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(178)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(253)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(138)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(125)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(200)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,208)</font></font></p>
  </td>
 <td nowrap width=1% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,208)</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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Net margin before provisions (4)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">2,634</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">1,129</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">4,800</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">2,654</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">1,992</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">127</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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,291)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">12,045</font></b></font></p>
  </td>
 <td nowrap width=1% 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">12,045</font></b></font></p>
  </td>
 </tr>
<tr style="height:32.25pt;">
  <td valign=bottom width=23% style="height:32.25pt;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-US 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=8% style="border:none;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=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(383)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(225)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,555)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,202)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;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=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(638)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:32.25pt;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-US style="font-size:9.0pt;">24</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;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=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3,981)</font></font></p>
  </td>
 <td nowrap width=1% style="border:none;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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;height:32.25pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3,981)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(410)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">16</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">24</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(65)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(36)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(483)</font></font></p>
  </td>
 <td nowrap width=1% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">866</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">383</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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Operating&#160; profit/ (loss) before tax</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">1,840</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">920</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">3,269</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">1,444</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">1,288</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">148</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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,329)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">7,580</font></b></font></p>
  </td>
 <td nowrap width=1% 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">866</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">8,446</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td valign=bottom width=23% style="height:22.5pt;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-US style="font-size:9.0pt;">Tax expense or income related to profit or
  loss from continuing operations</font></font></p>
  </td>
 <td nowrap width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(437)</font></font></p>
  </td>
 <td nowrap width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(185)</font></font></p>
  </td>
 <td nowrap width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(901)</font></font></p>
  </td>
 <td nowrap width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(293)</font></font></p>
  </td>
 <td nowrap width=7% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(469)</font></font></p>
  </td>
 <td nowrap width=7% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(52)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">350</font></font></p>
  </td>
 <td nowrap width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,986)</font></font></p>
  </td>
 <td nowrap width=1% 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=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(233)</font></font></p>
  </td>
 <td nowrap width=8% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2,219)</font></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td valign=bottom width=23% 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" lang=EN-US style="font-size:9.0pt;">Profit from continuing operations excluding
  corporate operations</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1,403</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">736</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2,368</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1,151</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">819</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">96</font></b></font></p>
  </td>
 <td nowrap width=7% 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(979)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">5,594</font></b></font></p>
  </td>
 <td nowrap width=1% 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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">633</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">6,227</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td width=23% style="height:21.75pt;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-US style="font-size:9.0pt;">Profit from discontinued operations/ Profit
  from corporate operations, net</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;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" lang=EN-US style="font-size:9.0pt;">633</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;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" lang=EN-US style="font-size:9.0pt;">633</font></b></font></p>
  </td>
 <td nowrap width=1% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% 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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(633)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;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-US style="font-size:9.0pt;">-</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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Profit</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">1,403</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">736</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">2,368</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">1,151</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">819</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">96</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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(346)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">6,227</font></b></font></p>
  </td>
 <td nowrap width=1% 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">6,227</font></b></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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Profit attributable to non-controlling
  interests </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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(585)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(241)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">3</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(827)</font></font></p>
  </td>
 <td nowrap width=1% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(827)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=23% 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=EN-US style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">1,400</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">736</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">2,367</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">567</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">578</font></b></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">96</font></b></font></p>
  </td>
 <td nowrap width=7% 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=EN-US style="font-size:9.0pt;">(343)</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">5,400</font></b></font></p>
  </td>
 <td nowrap width=1% style="border:none;border-bottom:double black 2.25pt;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=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% 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=EN-US style="font-size:9.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">5,400</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(1)&#160;&#160; 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 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
financial statements, 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;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(2)&#160;&#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 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;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">&#160;(3)&#160;&#160; Includes &#8220;Dividend income&#8221;, &#8220;Share of profit or loss of
entities accounted for using the equity method&#8221;, &#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:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(4)&#160;&#160; &#8220;Net </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">margin</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;"> 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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">118</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_124"></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 title="F_20F_SMSR_ReconciliationN2" style="border-collapse:collapse;width:100%;">
 <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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=8 width=71% 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=EN-US style="font-size:8.0pt;">For the Year Ended
  December 31, 2017</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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% 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" lang=EN-US style="font-size:8.0pt;">Spain</font></b></font></p>
  </td>
 <td width=10% 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" lang=EN-US style="font-size:8.0pt;">The United States</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" lang=EN-US style="font-size:8.0pt;">Mexico</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" lang=EN-US style="font-size:8.0pt;">Turkey </font></b></font></p>
  </td>
 <td width=9% 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" lang=EN-US 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: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" lang=EN-US 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: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" lang=EN-US style="font-size:8.0pt;">Corporate Center</font></b></font></p>
  </td>
 <td width=9% 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" lang=EN-US style="font-size:8.0pt;">Group</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=8 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" lang=EN-US 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=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" lang=EN-US style="font-size:9.0pt;">Net interest income</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">3,810</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">2,119</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">5,476</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">3,331</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">3,200</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">180</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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(357)</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">17,758</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" lang=EN-US style="font-size:9.0pt;">Net fees and commissions</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;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" lang=EN-US style="font-size:9.0pt;">1,563</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;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" lang=EN-US style="font-size:9.0pt;">644</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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" lang=EN-US style="font-size:9.0pt;">1,219</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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" lang=EN-US style="font-size:9.0pt;">703</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;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" lang=EN-US style="font-size:9.0pt;">713</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;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" lang=EN-US style="font-size:9.0pt;">164</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(86)</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;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" lang=EN-US style="font-size:9.0pt;">4,921</font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Net gains (losses) on financial assets and
  liabilities and exchange differences, net (1)</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:24.0pt;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" lang=EN-US style="font-size:9.0pt;">555</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="height:24.0pt;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" lang=EN-US style="font-size:9.0pt;">111</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:24.0pt;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" lang=EN-US style="font-size:9.0pt;">249</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="height:24.0pt;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" lang=EN-US style="font-size:9.0pt;">14</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:24.0pt;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" lang=EN-US style="font-size:9.0pt;">480</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:24.0pt;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" lang=EN-US style="font-size:9.0pt;">123</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:24.0pt;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" lang=EN-US style="font-size:9.0pt;">436</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:24.0pt;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" lang=EN-US style="font-size:9.0pt;">1,968</font></font></p>
  </td>
 </tr>
<tr style="height:17.25pt;">
  <td nowrap valign=bottom width=29% style="height:17.25pt;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-US style="font-size:9.0pt;">Other operating income and expense, net (2)</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;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-US style="font-size:9.0pt;">234</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;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-US style="font-size:9.0pt;">2</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;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-US style="font-size:9.0pt;">177</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;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-US style="font-size:9.0pt;">67</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;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-US style="font-size:9.0pt;">59</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;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-US style="font-size:9.0pt;">1</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;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-US style="font-size:9.0pt;">82</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:17.25pt;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-US style="font-size:9.0pt;">622</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" lang=EN-US style="font-size:9.0pt;">Gross income</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">6,162</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">2,876</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">7,122</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">4,115</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">4,451</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">468</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">74</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">25,270</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" lang=EN-US style="font-size:9.0pt;">Administration costs</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3,145)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,664)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2,220)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,329)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,906)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(293)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(556)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(11,112)</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" lang=EN-US style="font-size:9.0pt;">Depreciation and amortization</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(352)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(187)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(256)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(178)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(121)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(11)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(282)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,387)</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" lang=EN-US style="font-size:9.0pt;">Net margin before provisions (3)</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">2,665</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">1,026</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">4,646</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">2,608</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">2,424</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">164</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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(764)</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">12,770</font></b></font></p>
  </td>
 </tr>
<tr style="height:36.0pt;">
  <td valign=bottom width=29% 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" lang=EN-US 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=9% style="border:none;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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(705)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(241)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,651)</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(453)</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(650)</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;height:36.0pt;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" lang=EN-US style="font-size:9.0pt;">23</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,125)</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(4,803)</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" lang=EN-US style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td nowrap 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=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(771)</font></font></p>
  </td>
 <td nowrap width=10% 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" lang=EN-US style="font-size:9.0pt;">(36)</font></font></p>
  </td>
 <td nowrap 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=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(35)</font></font></p>
  </td>
 <td nowrap 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=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(12)</font></font></p>
  </td>
 <td nowrap 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=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(103)</font></font></p>
  </td>
 <td nowrap 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=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(6)</font></font></p>
  </td>
 <td nowrap 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=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(73)</font></font></p>
  </td>
 <td nowrap 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=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,036)</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" lang=EN-US style="font-size:9.0pt;">Operating&#160; profit/ (loss) before tax</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">1,189</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">749</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">2,960</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">2,143</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">1,671</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">181</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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,962)</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">6,931</font></b></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" lang=EN-US style="font-size:9.0pt;">Tax expense or income related to profit or
  loss from continuing operations</font></font></p>
  </td>
 <td nowrap width=9% 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=EN-US style="font-size:9.0pt;">(309)</font></font></p>
  </td>
 <td nowrap width=10% 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=EN-US style="font-size:9.0pt;">(263)</font></font></p>
  </td>
 <td nowrap width=8% 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=EN-US style="font-size:9.0pt;">(789)</font></font></p>
  </td>
 <td nowrap width=8% 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=EN-US style="font-size:9.0pt;">(425)</font></font></p>
  </td>
 <td nowrap width=9% 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=EN-US style="font-size:9.0pt;">(480)</font></font></p>
  </td>
 <td nowrap width=9% 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=EN-US style="font-size:9.0pt;">(53)</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">146</font></font></p>
  </td>
 <td nowrap width=9% 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=EN-US style="font-size:9.0pt;">(2,174)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Profit from continuing operations </font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">879</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">486</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">2,170</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">1,718</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">1,192</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">128</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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,816)</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">4,757</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=29% 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" lang=EN-US style="font-size:9.0pt;">Profit from discontinued operations/ Profit
  from corporate operations, net</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.75pt;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-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Profit</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">879</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">486</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">2,170</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">1,718</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">1,192</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">128</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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,816)</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">4,757</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Profit attributable to non-controlling
  interests </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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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-US style="font-size:9.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(895)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(345)</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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-US style="font-size:9.0pt;">-</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)</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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,243)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">877</font></b></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">486</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">2,170</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">823</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">847</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">128</font></b></font></p>
  </td>
 <td nowrap 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,817)</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:double black 2.25pt;height:12.75pt;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" lang=EN-US style="font-size:9.0pt;">3,514</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:4.0pt;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:8.0pt;">(1)&#160;&#160; Includes</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;"> &#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</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&#8221;.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:4.0pt;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:8.0pt;">(2)&#160;&#160; Includes &#8220;Dividend income&#8221;, &#8220;Share of profit or
loss of entities accounted for using the equity method&#8221;, &#8220;Income/Expense on
insurance and </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">reinsurance</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;"> contracts&#8221; and &#8220;Other operating income/expense&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:4.0pt;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:8.0pt;">(3)&#160;&#160; &#8220;Net </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">margin</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;"> before provisions&#8221; is calculated as &#8220;Gross income&#8221;
less &#8220;Administration costs&#8221; and &#8220;Depreciation and amortization&#8221;.
</font></font></p>

<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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">119</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_125"></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: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;">Results
of Operations by Operating Segment for 2019 Compared with 2018</font></i></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" lang=EN-US style="font-size:10.0pt;">SPAIN</font></b></font></h4>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_Spain" 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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 lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">2019</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" lang=EN-US style="font-size:8.0pt;">2018</font></u></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" lang=EN-US 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">3,645 </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" lang=EN-US style="font-size:9.0pt;">3,698 </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" lang=EN-US style="font-size:9.0pt;">(1.4) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1,751 </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" lang=EN-US style="font-size:9.0pt;">1,682 </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" lang=EN-US style="font-size:9.0pt;">4.1 </font></font></p>
  </td>
 </tr>
<tr style="height:27.6pt;">
  <td valign=bottom width=55% 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Net gains (losses) on financial assets and
  liabilities and exchange differences, net (1)</font></font></p>
  </td>
 <td nowrap width=17% style="height:27.6pt;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" lang=EN-US style="font-size:9.0pt;">239 </font></font></p>
  </td>
 <td nowrap width=17% style="height:27.6pt;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" lang=EN-US style="font-size:9.0pt;">529 </font></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:27.6pt;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" lang=EN-US style="font-size:9.0pt;">(54.9) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(419)</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" lang=EN-US style="font-size:9.0pt;">(425)</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" lang=EN-US style="font-size:9.0pt;">(1.5) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">518 </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" lang=EN-US style="font-size:9.0pt;">485 </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" lang=EN-US style="font-size:9.0pt;">6.7 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">5,734 </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" lang=EN-US style="font-size:9.0pt;">5,968 </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" lang=EN-US style="font-size:9.0pt;">(3.9) </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" lang=EN-US style="font-size:9.0pt;">Administration costs</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" lang=EN-US style="font-size:9.0pt;">(2,777)</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" lang=EN-US style="font-size:9.0pt;">(3,027)</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" lang=EN-US style="font-size:9.0pt;">(8.2) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(476)</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" lang=EN-US style="font-size:9.0pt;">(308)</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" lang=EN-US style="font-size:9.0pt;">54.8 </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" lang=EN-US style="font-size:9.0pt;">Net margin before provisions (2)</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" lang=EN-US style="font-size:9.0pt;">2,480 </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" lang=EN-US style="font-size:9.0pt;">2,634 </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" lang=EN-US style="font-size:9.0pt;">(5.8) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(216)</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" lang=EN-US style="font-size:9.0pt;">(383)</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" lang=EN-US style="font-size:9.0pt;">(43.6) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(386)</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" lang=EN-US style="font-size:9.0pt;">(410)</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" lang=EN-US style="font-size:9.0pt;">(5.9) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1,878 </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" lang=EN-US style="font-size:9.0pt;">1,840 </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" lang=EN-US style="font-size:9.0pt;">2.1 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(489)</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" lang=EN-US style="font-size:9.0pt;">(437)</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" lang=EN-US style="font-size:9.0pt;">12.0 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1,389 </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" lang=EN-US style="font-size:9.0pt;">1,403 </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" lang=EN-US style="font-size:9.0pt;">(1.0) </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1,389 </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" lang=EN-US style="font-size:9.0pt;">1,403 </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" lang=EN-US style="font-size:9.0pt;">(1.0) </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1,386 </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" lang=EN-US style="font-size:9.0pt;">1,400 </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" lang=EN-US style="font-size:9.0pt;">(1.0) </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" lang=EN-US 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(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 </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">liabilities</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;"> 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:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(2)&#160;&#160; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Calculated</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;"> 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-align:justify;text-indent:17.85pt;"><a name="_cp_text_1_889"></a><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
an important part of the real estate business of BBVA in Spain to Divarian and
the sale of an 80% stake in Divarian to Promontoria Marina, S.L.U., a company
managed by Cerberus Capital Management, L.P. Additionally, on December 21,
2018, the Group sold its 25.24% stake in Testa Residencial SOCIMI, S.A. for
&#8364;478 million. Moreover, on December 21, 2018, BBVA reached an agreement with
Voyager (Anfora), </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">for the
transfer by us of a portfolio of credit rights which was mainly composed of
non-performing and in-default mortgage credits. The transaction was completed
during the third quarter of 2019. The completion of these transactions has
affected the comparability of year-on-year results for this operating segment.
See &#8220;<a name="_cp_text_4_890"></a></font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8213;Factors Affecting the Comparability of
our Results of Operations and Financial Condition<a name="_cp_text_1_891"></a></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: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-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, 2019 amounted to &#8364;3,645 million, a 1.4%
decrease compared with the &#8364;3,698 million recorded for the year ended December
31, 2018, mainly as a result of the lower contribution from the ALCO portfolio.
The net interest margin over total average assets of this operating segment
amounted to 1.01% for the year ended December 31, 2019, compared with 1.06% for
the year ended December 31, 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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">120</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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;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-bottom:12.0pt;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;">Net fees and commissions of this operating segment for the
year ended December 31, 2019 amounted to &#8364;1,751 million, a 4.1% increase
compared with the &#8364;1,682 million recorded for the year ended December 31, 2018,
</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">mainly due to the increase of corporate banking
transactions and the positive performance of asset management 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;">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: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, 2019 was a net gain of &#8364;239 million, a 54.9% decrease compared with the
&#8364;529 million net gain recorded for the year ended December 31, 2018, mainly as
a result of uneven market conditions and lower portfolio sales in 2019.</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: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 net operating expense of this operating
segment for the year ended December 31, 2019 amounted to &#8364;419 million, a 1.5%
decrease compared with the &#8364;425 million expense recorded for the year ended
December 31, 2018.</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;text-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, 2019 was
&#8364;518 million, a 6.7% increase compared with the &#8364;485 million recorded for the
year ended December 31, 2018, mainly as a result of higher premiums collected
and a lower claims ratio, partially offset by the lower insurance activity
related to insurance-savings products (through BBVA Seguros). </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;">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: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, 2019 amounted to &#8364;2,777 million, a 8.2%
decrease compared with the &#8364;3,027 million recorded for the year ended December
31, 2018, mainly as a result of the lower rent expense due to</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"> &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the implementation of IFRS 16 on January 1, 2019, which had
the effect of accounting for the amortization of right-to-use assets under the
heading &#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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">121</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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;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;">Depreciation
and amortization</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;">Depreciation and amortization for the year ended
December 31, 2019 was &#8364;476 million, a 54.8% increase compared with the &#8364;308
million recorded for the year ended December 31, 2018, mainly as a result of
the implementation of IFRS 16 on January 1, 2019, which had the effect of
accounting for the amortization of right-to-use assets under the heading
&#8220;Right-of-use assets&#8221;.</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;">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: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, 2019
amounted to an expense of &#8364;216 million, a 43.6% decrease compared with the &#8364;383
million expense recorded for the year ended December 31, 2018, mainly as a
result of the sale of non-performing and in-default mortgage credits and to
lower loan loss provisions of real estate developer loans previously allocated
to the former Non-Core Real Estate operating segment following the Anfora
transaction (see &#8220;&#8212;Factors Affecting the Comparability of our Results of Operations
and Financial Condition&#8212;Agreement with Voyager Investing UK Limited Partnership
(Anfora)&#8221;).</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;">Provisions or reversal of provisions and other
results</font></i></b></font></p>

<p style="border:none;margin-bottom:12.0pt;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;">Provisions or reversal of provisions and other results of
this operating segment for the year ended December 31, 2019 were a &#8364;386 million
expense, a 5.9% decrease compared with the &#8364;410 million expense recorded for
the year ended December 31, 2018, mainly due to lower real estate related costs
and other results, partially offset by higher pension and pre-early retirement
provisions.</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;">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: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, 2019 was
&#8364;1,878 million, a 2.1% increase compared with the &#8364;1,840 million recorded for
the year ended December 31, 2018.</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;">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, 2019 was
an expense of &#8364;489 million, a 12.0% increase compared with the &#8364;437 million
expense recorded for the year ended December 31, 2018. The year-on-year
variation was mainly attributable to the higher dividends and capital gains
exempt from taxation in 2018 (which included those recognized in the 2017 tax
declaration presented in July 2018) and the higher operating profit before tax.
Tax expense amounted to 26.0% of operating profit before tax for the year ended
December 31, 2019 and 23.7% for the year ended December 31, 2018.</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;">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, 2019 amounted to &#8364;1,386 million, a 1.0% decrease compared with the
&#8364;1,400 million recorded for the year ended December 31, 2018.
</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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">122</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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>


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<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=EN-US style="font-size:10.0pt;">THE
UNITED STATES</font></b></font></h4>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_USA" 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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 lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">2019</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" lang=EN-US style="font-size:8.0pt;">2018</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" lang=EN-US 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">2,395</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" lang=EN-US style="font-size:9.0pt;">2,276</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">596</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" lang=EN-US style="font-size:9.0pt;">8.1 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">173</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" lang=EN-US style="font-size:9.0pt;">109</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" lang=EN-US style="font-size:9.0pt;">58.8 </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;"><font color=black face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">12</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" lang=EN-US style="font-size:9.0pt;">9</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" lang=EN-US style="font-size:9.0pt;">31.7 </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">3,223</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" lang=EN-US style="font-size:9.0pt;">2,989</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" lang=EN-US style="font-size:9.0pt;">7.8 </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" lang=EN-US style="font-size:9.0pt;">Administration costs</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" lang=EN-US style="font-size:9.0pt;">(1,747)</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" lang=EN-US style="font-size:9.0pt;">(1,683)</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" lang=EN-US 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;"><font color=black face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(219)</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">23.1 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1,257</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" lang=EN-US style="font-size:9.0pt;">1,129</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" lang=EN-US style="font-size:9.0pt;">11.4 </font></b></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td valign=bottom width=57% style="height:21.75pt;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-US 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:21.75pt;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" lang=EN-US style="font-size:9.0pt;">(550)</font></font></p>
  </td>
 <td width=16% style="border:none;height:21.75pt;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" lang=EN-US style="font-size:9.0pt;">(225)</font></font></p>
  </td>
 <td nowrap width=11% style="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;"><font color=black face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td 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" lang=EN-US style="font-size:9.0pt;">(2)</font></font></p>
  </td>
 <td width=16% style="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" lang=EN-US style="font-size:9.0pt;">16</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Operating profit/(loss) before tax</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: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" lang=EN-US style="font-size:9.0pt;">705</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: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" lang=EN-US style="font-size:9.0pt;">920</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" lang=EN-US style="font-size:9.0pt;">(23.4) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(115)</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" lang=EN-US style="font-size:9.0pt;">(185)</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" lang=EN-US style="font-size:9.0pt;">(37.7) </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;"><b><font color=black face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">590</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" lang=EN-US style="font-size:9.0pt;">736</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" lang=EN-US style="font-size:9.0pt;">(19.9) </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">590</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" lang=EN-US style="font-size:9.0pt;">736</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" lang=EN-US style="font-size:9.0pt;">(19.9) </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">590</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" lang=EN-US style="font-size:9.0pt;">736</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" lang=EN-US style="font-size:9.0pt;">(19.9) </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(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;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(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:0cm;margin-bottom:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(3)&#160;&#160; Not meaningful.</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;">In
the year ended December 31, 2019 the U.S. dollar appreciated 5.5% against the
euro in average terms, resulting in a positive exchange rate effect on our
consolidated income statement for the year ended December 31, 2018 and in the
results of operations of the United States operating segment for such period
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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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: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: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;">Net
interest income of this operating segment for the year ended December 31, 2019
amounted to &#8364;2,395 million, a 5.2% increase compared with the &#8364;2,276 million
recorded for the year ended December 31, 2018, mainly due to the appreciation
of the U.S. dollar, partially offset by higher funding costs. Additionally,
while the Federal Reserve&#8217;s increase in interest rates in 2018 positively
impacted net interest income, subsequent rate reductions in 2019 have
negatively impacted results especially in the second half of 2019. The net
interest margin over total average assets of this operating segment amounted to
2.78% for the year ended December 31, 2019, compared with 2.96% for the year
ended December 31, 2018. </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: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;">Net fees
and commissions of this operating segment for the year ended December 31, 2019
amounted to &#8364;644 million, a 8.1% increase compared with the &#8364;596 million
recorded for the year ended December 31, 2018, mainly due to higher service
charges on deposit accounts, higher card and merchant processing fees, lower
commissions paid and the appreciation of the U.S. dollar against the
euro.&nbsp;</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 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 color=black style="border:none;"><font color=black 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, 2019 was a net gain of &#8364;173
million, a 58.8% increase compared with the &#8364;109 million gain recorded for the
year ended December 31, 2018, mainly as a result of higher ALCO portfolio
sales, the performance in the BBVA branch in New York and the appreciation of
the U.S. dollar against the euro.&nbsp;</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;">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 color=black style="border:none;"><font color=black 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,
2019 amounted to &#8364;12 million, compared with the &#8364;9 million income recorded for
the year ended December 31, 2018.</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;">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 color=black style="border:none;"><font color=black 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, 2019 amounted
to&nbsp;&#8364;1,747 million, a 3.8% increase compared with the &#8364;1,683 million
recorded for the year ended December 31, 2018, mainly as a result of increased
expenses relating to professional services, business development and deposit
campaigns, partially offset by the lower rent expense due to the implementation
of IFRS 16, which had the effect of accounting for the amortization of
right-to-use assets under the heading &#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>
<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;">Depreciation
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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Depreciation
and amortization for the year ended December 31, 2019 was &#8364;219 million, a 23.1%
increase compared with the &#8364;178 million recorded for the year ended December
31, 2018 mainly as a result of the implementation of IFRS 16, which had the
effect of accounting for the amortization of right-to-use assets under the
heading &#8220;Right-of-use assets&#8221;.&nbsp;</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;">Impairment or reversal of impairment on
financial assets not measured at fair value through profit or loss or net gains
by modification&nbsp;</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;">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, 2019 was a &#8364;550 million expense compared with
the &#8364;225 million expense recorded for the year ended December 31, 2018, mainly
as a result of higher loan loss allowances for specific commercial portfolio
customers and losses within the consumer loan portfolios as well as an increase
in the loss allowances for individually evaluated non-performing loans in the
commercial, financial and agricultural loan portfolios and, to a lesser extent,
the deterioration of macroeconomic conditions. In addition, the comparison is
affected by the release of provisions in 2018 related to the hurricanes in the
United States.&nbsp;</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;">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 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 foregoing, operating profit before tax of this operating segment
for the year ended December 31, 2019 was &#8364;705 million, a 23.4% decrease
compared with the &#8364;920 million of operating profit recorded for the
year&nbsp;ended December 31, 2018.</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;">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 color=black style="border:none;"><font color=black 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, 2019 was &#8364;115 million, a 37.7% decrease
compared with the &#8364;185 million expense recorded for the year ended December 31,
2018, mainly as a result of the lower operating profit before tax. Tax expense
amounted to 16.3% of operating profit before tax for the year ended December
31, 2019, compared with 20.1% for the year ended December 31, 2018.</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;">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 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 foregoing, profit attributable to parent company of this
operating segment for the year ended December 31, 2019 amounted to &#8364;590
million, a 19.9% decrease compared with the &#8364;736 million recorded for the year
ended December 31, 2018.
</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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">125</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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>
<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-TRAD style="font-size:10.0pt;">MEXICO</font></b></font></h4>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_Mexico" 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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 lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">2019</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" lang=EN-US style="font-size:8.0pt;">2018</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" lang=EN-US 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">6,209</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" lang=EN-US style="font-size:9.0pt;">5,568</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" lang=EN-US style="font-size:9.0pt;">11.5 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1,298</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" lang=EN-US style="font-size:9.0pt;">1,205</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" lang=EN-US style="font-size:9.0pt;">7.8 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">310</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" lang=EN-US style="font-size:9.0pt;">223</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" lang=EN-US style="font-size:9.0pt;">38.7 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(267)</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" lang=EN-US style="font-size:9.0pt;">(236)</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" lang=EN-US style="font-size:9.0pt;">13.1 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">479</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">10.6 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">8,029</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" lang=EN-US style="font-size:9.0pt;">7,193</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" lang=EN-US style="font-size:9.0pt;">11.6 </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" lang=EN-US style="font-size:9.0pt;">Administration costs</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" lang=EN-US style="font-size:9.0pt;">(2,299)</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" lang=EN-US style="font-size:9.0pt;">(2,139)</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" lang=EN-US style="font-size:9.0pt;">7.5 </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;"><font color=black face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(346)</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" lang=EN-US style="font-size:9.0pt;">(253)</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" lang=EN-US style="font-size:9.0pt;">36.6 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">5,384</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" lang=EN-US style="font-size:9.0pt;">4,800</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" lang=EN-US style="font-size:9.0pt;">12.2 </font></b></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td valign=bottom width=57% 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;"><font color=black face="Times New Roman,serif" lang=EN-US 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: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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,698)</font></font></p>
  </td>
 <td width=16% style="border:none;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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1,555)</font></font></p>
  </td>
 <td nowrap width=11% 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">9.2 </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" lang=EN-US style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td width=16% style="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" lang=EN-US style="font-size:9.0pt;">5</font></font></p>
  </td>
 <td width=16% style="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" lang=EN-US style="font-size:9.0pt;">24</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" lang=EN-US style="font-size:9.0pt;">(80.4) </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" lang=EN-US style="font-size:9.0pt;">Operating profit/(loss) before tax</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: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" lang=EN-US style="font-size:9.0pt;">3,691</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: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" lang=EN-US style="font-size:9.0pt;">3,269</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(992)</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" lang=EN-US style="font-size:9.0pt;">(901)</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" lang=EN-US style="font-size:9.0pt;">10.0 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">2,699</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" lang=EN-US style="font-size:9.0pt;">2,368</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" lang=EN-US style="font-size:9.0pt;">14.0 </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">2,699</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" lang=EN-US style="font-size:9.0pt;">2,368</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" lang=EN-US style="font-size:9.0pt;">14.0 </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">2,699</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" lang=EN-US style="font-size:9.0pt;">2,367</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" lang=EN-US style="font-size:9.0pt;">14.0 </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(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:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(2)&#160;&#160; &#8220;Net </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">margin</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;"> 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:0cm;text-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 year ended December 31, 2019, the Mexican
peso appreciated 5.3% against the euro in average terms compared with the year
ended December 31, 2018, resulting in a positive exchange rate effect on our
consolidated income statement for the year ended December 31, 2019 and in the
results of operations of the Mexico operating segment for such period 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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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: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: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;">Net
interest income of this operating segment for the year ended December 31, 2019
amounted to &#8364;6,209 million, a 11.5% increase compared with the &#8364;5,568 million
recorded for the year ended December 31, 2018, mainly as a result of </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">increases in the volume of interest-earning
assets</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> in the retail portfolio and volumes and yields
in the wholesale portfolio and, to a lesser extent, the appreciation of the
Mexican peso against the euro. In particular, net interest income benefited
from the increase in the average volume of loans and advances to customers,
particularly to enterprises and households. The increase was partially offset
by greater funding costs.</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 net
interest margin over total average assets of this operating segment amounted to
5.91% for the year ended December&nbsp;31, 2019, compared with 5.81% for the
year ended December 31, 2018. </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: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;">Net fees and
commissions of this operating segment for the year ended December 31, 2019
amounted to &#8364;1,298 million, a 7.8% increase compared with the &#8364;1,205 million
recorded for the year ended December 31, 2018, mainly as a result of the
increased use of credit and debit cards, as a result of the increased level of
transactions during the period, and the appreciation of the Mexican peso,
partially offset by the increase in commissions paid to other financial
institutions in connection with the increased use of credit and debit cards.</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 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 color=black style="border:none;"><font color=black 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, 2019 were &#8364;310 million, a 38.7%
increase compared with the &#8364;223 million gain recorded for the year ended
December 31, 2018, mainly as a result of higher income from the ALCO portfolio
and higher securities sales, partially offset by the Global Markets unit&#8217;s
performance during the period and the appreciation of the Mexican peso 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: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;">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 color=black style="border:none;"><font color=black 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, 2019 was a net expense of &#8364;267 million, a 13.1% increase compared
with the &#8364;236 million net expense recorded for the year ended December 31,
2018, mainly as a result of the higher contribution to the Deposit Guarantee
Fund and the appreciation of the Mexican peso.&nbsp;</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;">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 color=black style="border:none;"><font color=black 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, 2019 was &#8364;479 million, a 10.6% increase compared with
the &#8364;433 million net income recorded for the year ended December 31, 2018,
mainly as a result of the positive performance of savings products and the
appreciation of the Mexican peso.</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;">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 color=black style="border:none;"><font color=black 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, 2019 were
&#8364;2,299 million, a 7.5% increase compared with the &#8364;2,139 million recorded for
the year ended December 31, 2018, mainly as a result of the increase in digital
infrastructure costs, the increase in the contribution to the BBVA Mexico&#8217;s
foundation and the appreciation of the Mexican peso, partially offset by the
lower rent expense, due to the implementation of IFRS 16, which had the effect
of accounting for the amortization of right-to-use assets under the heading
&#8220;Depreciation and amortization&#8221;. At a constant exchange rate, administration
costs increased by 2.0%. Such increase was below Mexico&#8217;s inflation rate for
the 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;"><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: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;">Depreciation
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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Depreciation
and amortization for the year ended December 31, 2019 was &#8364;346 million, a 36.6%
increase compared with the &#8364;253 million recorded for the year ended December
31, 2018 mainly as a result of the implementation of IFRS 16 on January 1,
2019, which had the effect of accounting for the amortization of right-to-use
assets under the heading &#8220;Right-of-use assets&#8221;, and the appreciation of the
Mexican peso.&nbsp;</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;">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 color=black style="border:none;"><font color=black 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, 2019 was a &#8364;1,698 million expense, a 9.2%
increase compared with the &#8364;1,555 million expense recorded for the year ended
December 31, 2018. At a constant exchange rate, there was a 3.6% increase in
allowances for loan losses driven by the operation of the contagion rules for
retail exposures (&#8216;pulling effect&#8217;) in the amortized cost portfolio. In
addition, the deterioration of macroeconomic conditions and the change in the
parameters used to estimate loan loss allowances for the retail portfolio have
negatively affected the year-on-year comparison.</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;">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 color=black style="border:none;"><font color=black 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, 2019 amounted to &#8364;5 million of income compared with the
&#8364;24 million income recorded for the year ended December 31, 2018. During 2018,
other income was recognized from the sale of the stake that BBVA Mexico held in
certain real estate developments.</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;">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 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 foregoing, operating profit before tax of this operating segment
for the year ended December 31, 2019 was &#8364;3,691 million, a 12.9% increase
compared with the &#8364;3,269 million of operating profit recorded for the year
ended December 31, 2018.</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;">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 color=black style="border:none;"><font color=black 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, 2019 was &#8364;992 million, a 10.0% increase
compared with the &#8364;901 million expense recorded for the year ended December 31,
2018, mainly as a result of the higher operating profit before tax. The tax
expense amounted to 26.9% of operating profit before tax for the year ended
December 31, 2019, and 27.6% for the year ended December 31, 2018.</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;">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 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 foregoing, profit attributable to parent company of this
operating segment for the year ended December 31, 2019 amounted to &#8364;2,699
million, a 14.0% increase compared with the &#8364;2,367 million recorded for the
year ended December 31, 2018.
</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 style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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=EN-US style="font-size:10.0pt;">TURKEY</font></b></font></h4>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_Turkey" style="border-collapse:collapse;width:100%;">
 <tr style="height:35.25pt;">
  <td nowrap valign=bottom width=57% style="height:35.25pt;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 lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=32% style="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=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">For the Year Ended
  December 31, </font></b></font></p>
  </td>
 <td nowrap valign=bottom width=11% style="height:35.25pt;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-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td nowrap valign=bottom width=57% style="height:24.75pt;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 lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=16% 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;"><b><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">2019</font></u></b></font></p>
  </td>
 <td valign=bottom width=16% 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;"><b><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">2018</font></u></b></font></p>
  </td>
 <td 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;"><b><font color=black face="Times New Roman,serif" lang=EN-US 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">2,814</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" lang=EN-US style="font-size:9.0pt;">3,135</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" lang=EN-US style="font-size:9.0pt;">(10.2) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">717</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" lang=EN-US style="font-size:9.0pt;">686</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" lang=EN-US style="font-size:9.0pt;">4.5 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">10</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(11.7) </font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=57% 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" lang=EN-US style="font-size:9.0pt;">Other operating income and expense, net</font></font></p>
  </td>
 <td width=16% 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" lang=EN-US style="font-size:9.0pt;">(10)</font></font></p>
  </td>
 <td width=16% 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" lang=EN-US style="font-size:9.0pt;">23</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">n.m. (3)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=57% 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" lang=EN-US 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: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" lang=EN-US style="font-size:9.0pt;">60</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">46</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">28.7 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">3,590</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" lang=EN-US style="font-size:9.0pt;">3,901</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" lang=EN-US style="font-size:9.0pt;">(8.0) </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" lang=EN-US style="font-size:9.0pt;">Administration costs</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" lang=EN-US style="font-size:9.0pt;">(1,036)</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" lang=EN-US style="font-size:9.0pt;">(1,109)</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" lang=EN-US style="font-size:9.0pt;">(6.6) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(179)</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" lang=EN-US style="font-size:9.0pt;">(138)</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" lang=EN-US style="font-size:9.0pt;">29.3 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">2,375</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" lang=EN-US style="font-size:9.0pt;">2,654</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" lang=EN-US style="font-size:9.0pt;">(10.5) </font></b></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td valign=bottom width=57% style="height:21.75pt;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-US 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:21.75pt;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" lang=EN-US style="font-size:9.0pt;">(906)</font></font></p>
  </td>
 <td width=16% style="border:none;height:21.75pt;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" lang=EN-US style="font-size:9.0pt;">(1,202)</font></font></p>
  </td>
 <td nowrap width=11% style="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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(24.6) </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" lang=EN-US style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td 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" lang=EN-US style="font-size:9.0pt;">(128)</font></font></p>
  </td>
 <td 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" lang=EN-US style="font-size:9.0pt;">(8)</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Operating profit/(loss) before tax</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: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" lang=EN-US style="font-size:9.0pt;">1,341</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: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" lang=EN-US style="font-size:9.0pt;">1,444</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" lang=EN-US style="font-size:9.0pt;">(7.1) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(312)</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">6.5 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1,029</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" lang=EN-US style="font-size:9.0pt;">1,151</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" lang=EN-US style="font-size:9.0pt;">(10.6) </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1,029</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" lang=EN-US style="font-size:9.0pt;">1,151</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" lang=EN-US style="font-size:9.0pt;">(10.6) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(524)</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" lang=EN-US style="font-size:9.0pt;">(585)</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">506</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" lang=EN-US style="font-size:9.0pt;">567</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" lang=EN-US style="font-size:9.0pt;">(10.7) </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(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;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(2)&#160; &#8220;Net </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">margin</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">
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:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(3)&#160;&#160; Not </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">meaningful</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">.</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;">The Turkish lira depreciated 10.3% against the
euro in average terms in the year ended December 31, 2019, resulting in a
negative exchange rate effect on our consolidated income statement for the year
ended December 31, 2019 and in the results of operations of the Turkey
operating segment for such period 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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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: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:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:21.25pt;"><font color=black style="border:none;"><font color=black 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, 2019
amounted to &#8364;2,814 million, a 10.2% decrease compared with the &#8364;3,135 million
recorded for the year ended December 31, 2018, mainly as a result of the
depreciation of the Turkish lira. At a constant exchange rate, there was a 0.1%
increase in net interest income.&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:21.25pt;"><font color=black style="border:none;"><font color=black 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
4.26% for the year ended December 31, 2019, compared with 4.35% for the year
ended December 31, 2018.</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:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:21.25pt;"><font color=black style="border:none;"><font color=black 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, 2019
amounted to &#8364;717 million, a 4.5% increase compared with the &#8364;686 million
recorded for the year ended December 31, 2018, mainly as a result of the
positive performance of payment instruments and cash transfers, partially
offset by the depreciation of the Turkish lira and the increase in commissions
paid to other financial institutions in connection with the increased use of
credit and debit cards.</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 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 color=black style="border:none;"><font color=black 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, 2019 amounted to &#8364;10 million, compared
with the &#8364;11 million gain recorded for the year ended December 31, 2018, mainly
as a result of the lower gains from derivatives and the Global Markets unit&#8217;s
transactions due to uneven market conditions, which were partially offset by
the positive impact of changes in foreign exchange rates on foreign currency
positions.&nbsp;</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;">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 color=black style="border:none;"><font color=black 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, 2019 was a &#8364;10 million expense compared with the &#8364;23 million of
net income recorded for the year ended December 31, 2018 mainly as a result of
the higher contribution to the Deposit Guarantee Fund due to a modification in local
regulations.</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;">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 color=black style="border:none;"><font color=black 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, 2019 was &#8364;60 million a 28.7% increase compared with the
&#8364;46 million income recorded for the year ended December 31, 2018, mainly as a
result of higher sales in the insurance business.&nbsp;</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;">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 color=black style="border:none;"><font color=black 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, 2019 amounted
to &#8364;1,036 million, a 6.6% decrease compared with the &#8364;1,109 million recorded
for the year ended December 31, 2018, mainly as a result of the depreciation of
the Turkish lira and, to a lesser extent, the lower rent expense due to the
implementation of IFRS 16, which had the effect of accounting for the
amortization of right-to-use assets under the heading &#8220;Depreciation and
amortization&#8221;. At a constant exchange rate, administration costs increased by
4.2%, which was below Turkey&#8217;s inflation rate for the period, mainly as a
result of&nbsp;higher technology and professional services 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;"><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: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;">Depreciation
and amortization</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:21.25pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Depreciation
and amortization for the year ended December 31, 2019 was &#8364;179 million, a 29.3%
increase compared with the &#8364;138 million recorded for the year ended December
31, 2018, mainly as a result of the implementation of IFRS 16, which had the
effect of accounting for the amortization of right-to-use assets under the
heading &#8220;Right-of-use assets&#8221;.&nbsp;</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;">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 color=black style="border:none;"><font color=black 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, 2019 was a &#8364;906 million expense, a 24.6%
decrease compared with the &#8364;1,202 million expense recorded for the year ended
December 31, 2018, mainly as a result of lower impairments due to the improved
macroeconomic prospects and the depreciation of the Turkish Lira.</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;">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 color=black style="border:none;"><font color=black 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, 2019 were a &#8364;128 million expense compared with the &#8364;8
million expense recorded for the year ended December 31, 2018,&nbsp;mainly due
to the increase in provisions for loan commitments and guarantees given in
Turkey. </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;">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:21.3pt;"><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 foregoing, operating profit before tax of this operating segment
for the year ended December 31, 2019 was &#8364;1,341 million, a 7.1% decrease
compared with the &#8364;1,444 million recorded for the year ended December 31, 2018.
At a constant exchange rate, operating profit increased by 3.5%.</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;">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:21.3pt;"><font color=black style="border:none;"><font color=black 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, 2019 was &#8364;312 million, a 6.5% increase compared
with the &#8364;293 million expense recorded for the year ended December 31, 2018,
mainly as a result of </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">the change in
the tax rate applicable to the deferred tax assets</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">. The
effective tax rate amounted to 23.3% of the operating profit before tax for the
year ended December 31, 2019, and 20.3% for the year ended December 31, 2018.</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;">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 color=black style="border:none;"><font color=black 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, 2019 amounted to &#8364;524 million, a 10.4% decrease
compared with the &#8364;585 million recorded for the year ended December 31, 2018,
mainly as a result of the depreciation of the Turkish lira 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: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;">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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Profit
attributable to parent company of this operating segment for the year ended
December 31, 2019 amounted to &#8364;506 million, a 10.7% decrease compared with the
&#8364;567 million recorded for the year ended December 31, 2018, mainly as a result
of the depreciation of the Turkish lira against the euro.
</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 style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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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AMERICA</font></b></font></h4>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_SouthAmerica" 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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 lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">2019</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" lang=EN-US style="font-size:8.0pt;">2018</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" lang=EN-US 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">3,196</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" lang=EN-US style="font-size:9.0pt;">3,009</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" lang=EN-US style="font-size:9.0pt;">6.2 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">557</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" lang=EN-US style="font-size:9.0pt;">631</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" lang=EN-US style="font-size:9.0pt;">(11.9) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">576</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" lang=EN-US style="font-size:9.0pt;">405</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" lang=EN-US style="font-size:9.0pt;">42.3 </font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=57% 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" lang=EN-US style="font-size:9.0pt;">Other operating income and expense, net</font></font></p>
  </td>
 <td width=16% 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" lang=EN-US style="font-size:9.0pt;">(580)</font></font></p>
  </td>
 <td width=16% 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" lang=EN-US style="font-size:9.0pt;">(454)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">27.7 </font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=57% 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" lang=EN-US 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: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" lang=EN-US style="font-size:9.0pt;">101</font></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;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" lang=EN-US style="font-size:9.0pt;">110</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(8.1) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">3,850</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" lang=EN-US style="font-size:9.0pt;">3,701</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" lang=EN-US style="font-size:9.0pt;">4.0 </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" lang=EN-US style="font-size:9.0pt;">Administration costs</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" lang=EN-US style="font-size:9.0pt;">(1,403)</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" lang=EN-US style="font-size:9.0pt;">(1,584)</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" lang=EN-US style="font-size:9.0pt;">(11.4) </font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=57% 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" lang=EN-US 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: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" lang=EN-US style="font-size:9.0pt;">(171)</font></font></p>
  </td>
 <td 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" lang=EN-US style="font-size:9.0pt;">(125)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">36.7 </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1,992</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" lang=EN-US style="font-size:9.0pt;">14.3 </font></b></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td valign=bottom width=57% 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" lang=EN-US 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:23.25pt;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" lang=EN-US style="font-size:9.0pt;">(777)</font></font></p>
  </td>
 <td width=16% style="border:none;height:23.25pt;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" lang=EN-US style="font-size:9.0pt;">(638)</font></font></p>
  </td>
 <td nowrap width=11% style="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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">21.7 </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" lang=EN-US style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td 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" lang=EN-US style="font-size:9.0pt;">(103)</font></font></p>
  </td>
 <td 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" lang=EN-US style="font-size:9.0pt;">(65)</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" lang=EN-US style="font-size:9.0pt;">57.8 </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" lang=EN-US style="font-size:9.0pt;">Operating profit/(loss) before tax</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: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" lang=EN-US style="font-size:9.0pt;">1,396</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: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" lang=EN-US style="font-size:9.0pt;">1,288</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" lang=EN-US style="font-size:9.0pt;">8.3 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(368)</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" lang=EN-US style="font-size:9.0pt;">(469)</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" lang=EN-US style="font-size:9.0pt;">(21.6) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1,028</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" lang=EN-US style="font-size:9.0pt;">819</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" lang=EN-US style="font-size:9.0pt;">25.5 </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1,028</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" lang=EN-US style="font-size:9.0pt;">819</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" lang=EN-US style="font-size:9.0pt;">25.5 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(307)</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" lang=EN-US style="font-size:9.0pt;">(241)</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" lang=EN-US style="font-size:9.0pt;">27.4 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">721</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" lang=EN-US style="font-size:9.0pt;">578</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" lang=EN-US style="font-size:9.0pt;">24.7 </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(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:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(2)&#160;&#160; &#8220;Net </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">margin</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;"> 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:0cm;text-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 year ended December 31, 2019, the
Argentine peso and the Colombian peso depreciated by 35.7% and 5.2%,
respectively, against the euro in average terms, compared with the year ended December
31, 2018. On the other hand, the Peruvian sol appreciated by 3.9% against the
euro in average terms. Overall, changes in exchange rates resulted in a
negative exchange rate effect on our consolidated income statement for the year
ended December 31, 2019 and in the results of operations of the South America
operating segment for such period 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</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-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 of December 31,
2019 and 2018 and for the years then ended, the Argentine and Venezuelan
economies were considered to be hyperinflationary as defined by IAS 29 (see &#8220;</font><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Presentation of Financial Information&#8212;Changes in Accounting
Policies&#8213;Hyperinflationary economies&#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-align:justify;text-indent:9.35pt;"><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;&#8213;Factors Affecting the Comparability of our Results of
Operations and Financial Condition&#8213;Sale of BBVA Chile</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 align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">132</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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;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: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;">Net
interest income of this operating segment for the year ended December 31, 2019
amounted to &#8364;3,196 million, a 6.2% increase compared with the &#8364;3,009 million
recorded for the year ended December 31, 2018, mainly as a result of the growth
in the yield on interest-earning assets, particularly in Argentina, and the
increase in the average volume of interest-earning assets in retail and
corporate banking, mainly in Peru. Additionally, the average volume of consumer
and mortgage loans in Colombia increased during 2019. These effects were
partially offset by the depreciation of the Argentine peso against the euro. At
constant exchange rates, there was a 15.2% year-on-year increase in net
interest income. The net interest margin over total average assets of this
operating segment amounted to 5.71% for the year ended December&nbsp;31, 2019,
compared with 4.65% for the year ended December 31, 2018.</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:17.85pt;"><font color=black style="border:none;"><font color=black 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, 2019 amounted to &#8364;557 million, a 11.9%
decrease compared with the &#8364;631 million recorded for the year ended December
31, 2018, mainly as a result of the depreciation of&nbsp; the Argentine peso.
At a constant exchange rate, there was a 5.0% decrease mainly due to the sale
of our stake in BBVA Chile.</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 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 color=black style="border:none;"><font color=black 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, 2019 were &#8364;576 million, a 42.3%
increase compared with the &#8364;405 million gain recorded for the year ended
December 31, 2018. At a constant exchange rate, there was a 58.1% increase,
mainly as a result of increased foreign-currency transactions in Argentina and
Peru and the sale of BBVA&#180;s 51% stake in Prisma Medios de Pago, S.A. in
Argentina. Additionally, the remaining stake held by BBVA in this entity
increased its value during 2019.</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;">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 color=black style="border:none;"><font color=black 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,
2019 was &#8364;580 million, a 27.7% increase compared with the &#8364;454 million expense
recorded for the year ended December 31, 2018, mainly driven by certain
non-income taxes which were previously accounted for under &#8220;Administration
costs&#8221; in Argentina.&nbsp;</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;">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 color=black style="border:none;"><font color=black 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, 2019 was &#8364;101 million, an 8.1% decrease compared with
the &#8364;110 million net income recorded for the year ended December 31, 2018. The
year-on-year variation was mainly attributable to the depreciation of the
Argentine peso against the euro in 2019 and the sale of the insurance business
in Chile in 2018. At constant exchange rates, there was a 12.7% increase mainly
explained by the positive performance in Argentina and Colombia.</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;">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 color=black style="border:none;"><font color=black 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, 2019 amounted
to &#8364;1,403 million, a 11.4% decrease compared with the &#8364;1,584 million recorded
for the year ended December 31, 2018, mainly as a result of the depreciation of
the Argentine peso and the Colombian peso, the </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">lower rent expense</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> due to the implementation of IFRS 16, which had the effect
of accounting for the amortization of </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">right-to-use</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
assets under the heading &#8220;Depreciation and amortization&#8221;, and the
reclassification of certain non-income taxes to the heading &#8220;Other operating
income and expense, net&#8221; in Argentina, which more than offset the impact of the
high inflation registered in certain countries in the region. At constant
exchange rates, there was a 2.0% decrease.</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">133</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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>


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<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;">Depreciation
and amortization</font></i></b></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;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;">Depreciation and amortization for
the year ended December 31, 2019 was &#8364;171 million, a 36.7% increase compared
with the &#8364;125 million recorded for the year ended December 31, 2018 mainly as a
result of the implementation of IFRS 16, which had the effect of accounting for
the amortization of </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">right-to-use</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> assets under the heading
&#8220;Right-of-use assets&#8221;, and higher expense related to software in Peru.</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;">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 color=black style="border:none;"><font color=black 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, 2019 was a &#8364;777 million expense, a 21.7%
increase compared with the &#8364;638 million expense recorded for the year ended
December 31, 2018, mainly as a result of the credit quality deterioration in
the portfolio measured at amortized cost, in particular in Peru, Colombia and
Argentina, and the deterioration of macroeconomic conditions, partially offset
by the depreciation of the Argentine peso and the Colombian peso 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: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;">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:17.85pt;"><font color=black style="border:none;"><font color=black 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, 2019 were a
&#8364;103 million expense, a 57.8% increase compared with the &#8364;65 million expense
recorded 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;">mainly as a result of the increase in provisions for
various purposes, particularly in Argentina</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: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;">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 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 foregoing, operating profit before tax of this operating segment
for the year ended December 31, 2019 was &#8364;1,396 million, an 8.3% increase
compared with the &#8364;1,288 million recorded for the year ended December 31, 2018.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:9.35pt;margin-right:0cm;margin-top:10.0pt;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 color=black style="border:none;"><font color=black 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, 2019 was &#8364;368 million, a 21.6% decrease
compared with the &#8364;469 million expense recorded for the year ended December 31,
2018, as a result in part of the recognition of the income tax deduction
related to inflation in Argentina in </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">2019. Additionally, the tax expense related to the sale of BBVA Chile was
recognized in 2018</font><font color=#1F497D 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;">Consequently,
the effective tax rate amounted to 26.3% of operating profit before tax for the
year ended December 31, 2019, and 36.4% for the year ended December 31, 2018.</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;">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 color=black style="border:none;"><font color=black 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, 2019 amounted to &#8364;307 million, a 27.4% increase
compared with the &#8364;241 million recorded for the year ended December 31, 2018,
mainly due to the higher operating profit before tax.</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;">Profit attributable to parent company</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;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;">As a result of the foregoing, profit
attributable to parent company of this operating segment for the year ended
December 31, 2019 amounted to &#8364;721 million, a 24.7% increase compared with the
&#8364;578 million recorded for the year ended December 31, 2018.
</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>
<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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">134</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</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">

<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=EN-US style="font-size:10.0pt;">REST
OF EURASIA</font></b></font></h4>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_Eurasia" 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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 lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">2019</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" lang=EN-US style="font-size:8.0pt;">2018</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" lang=EN-US 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">175</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" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">139</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" lang=EN-US style="font-size:9.0pt;">138</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" lang=EN-US style="font-size:9.0pt;">0.4 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">131</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" lang=EN-US style="font-size:9.0pt;">101</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" lang=EN-US style="font-size:9.0pt;">29.2 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">4</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">5</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">454</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" lang=EN-US style="font-size:9.0pt;">414</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" lang=EN-US style="font-size:9.0pt;">9.6 </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" lang=EN-US style="font-size:9.0pt;">Administration costs</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" lang=EN-US style="font-size:9.0pt;">(275)</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" lang=EN-US style="font-size:9.0pt;">(281)</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" lang=EN-US 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;"><font color=black face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(18)</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" lang=EN-US style="font-size:9.0pt;">(6)</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" lang=EN-US style="font-size:9.0pt;">194.2 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">161</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" lang=EN-US style="font-size:9.0pt;">127</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" lang=EN-US style="font-size:9.0pt;">26.1 </font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=57% 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" lang=EN-US 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:24.75pt;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" lang=EN-US style="font-size:9.0pt;">(4)</font></font></p>
  </td>
 <td width=16% style="border:none;height:24.75pt;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" lang=EN-US style="font-size:9.0pt;">24</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td width=16% style="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" lang=EN-US style="font-size:9.0pt;">6</font></font></p>
  </td>
 <td 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" lang=EN-US style="font-size:9.0pt;">(3)</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Operating profit/(loss) before tax</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: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" lang=EN-US style="font-size:9.0pt;">163</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: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" lang=EN-US style="font-size:9.0pt;">148</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" lang=EN-US style="font-size:9.0pt;">10.0 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(36)</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(31.3) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">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" lang=EN-US style="font-size:9.0pt;">96</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" lang=EN-US style="font-size:9.0pt;">32.3 </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">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" lang=EN-US style="font-size:9.0pt;">96</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" lang=EN-US style="font-size:9.0pt;">32.3 </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">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" lang=EN-US style="font-size:9.0pt;">96</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" lang=EN-US style="font-size:9.0pt;">32.3 </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(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;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(2)&#160;&#160; &#8220;Net </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">margin</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">
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:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(3)&#160;&#160; Not </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">meaningful</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">.
</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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">135</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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;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: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 years ended December 31, 2019 and 2018
amounted to &#8364;175 million. The net interest margin over total average assets of
this operating segment amounted to 0.84% for the year ended December&nbsp;31,
2019 compared with 0.94% for the year ended December 31, 2018.</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: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, 2019
amounted to &#8364;139 million, a 0.4% increase compared with the &#8364;138 million
recorded for the year ended December 31, 2018.</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 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, 2019 were &#8364;131 million, a 29.2%
increase compared with the &#8364;101 million net gain recorded for the year ended
December 31, 2018, due mainly to increased commercial activity in the Global
Market&#8217;s unit.</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;">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, 2019 was &#8364;9
million, compared with the nil other net operating income recorded for the year
ended December 31, 2018, as a result of higher activity in the insurance
business</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: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;">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, 2019 amounted to &#8364;275
million, a 2.0% decrease compared with the &#8364;281 million recorded 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;">mainly as
a result of the lower rent expense due to the implementation</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> of IFRS 16, which had the effect of accounting
for the amortization of </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">right-to-use</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> assets under the heading &#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: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;">Depreciation 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, 2019 was &#8364;18 million, compared
with the &#8364;6 million recorded for the year ended December 31, 2018, mainly as a
result of the implementation of IFRS 16 on January 1, 2019, which had the
effect of accounting for the amortization of </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">right-to-use</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
assets under the heading &#8220;Right-of-use assets&#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>
<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;">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, 2019 amounted to a &#8364;4 million expense compared with the
&#8364;24 million of income recorded for the year ended December 31, 2018.</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;">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, 2019 were a &#8364;6 million income compared with the &#8364;3 million
expense recorded for the year ended December 31, 2018, mainly due to the
positive results of investment joint ventures and associates</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">.</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;">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, 2019 was &#8364;163 million, a 10.0% increase compared with the
&#8364;148 million recorded for the year ended December 31, 2018.</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;">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;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;">Tax expense related to profit from continuing
operations of this operating segment for the year ended December 31, 2019 was
&#8364;36 million, a 31.3% decrease compared with the &#8364;52 million expense recorded
for the year ended December 31, 2018, mainly as a result of the change in the
tax rate applicable to the deferred tax assets.</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;">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, 2019 amounted to &#8364;127 million, a 32.3% increase
compared with the &#8364;96 million recorded for the year ended December 31, 2018.
</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>
<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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">137</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</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;"><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=EN-US style="font-size:10.0pt;">CORPORATE
CENTER</font></b></font></h4>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_Corporate" 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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 lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">2019</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" lang=EN-US style="font-size:8.0pt;">2018</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" lang=EN-US 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(233)</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" lang=EN-US style="font-size:9.0pt;">(269)</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" lang=EN-US style="font-size:9.0pt;">(13.4) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(73)</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" lang=EN-US style="font-size:9.0pt;">(59)</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" lang=EN-US style="font-size:9.0pt;">24.0 </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" lang=EN-US style="font-size:9.0pt;">Net gains (losses) on financial assets and
  liabilities and exchange differences, net (1)</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" lang=EN-US style="font-size:9.0pt;">(54)</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" lang=EN-US style="font-size:9.0pt;">(155)</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" lang=EN-US style="font-size:9.0pt;">(65.0) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">41</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" lang=EN-US style="font-size:9.0pt;">82</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" lang=EN-US style="font-size:9.0pt;">(49.3) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(20)</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">7.2 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(339)</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" lang=EN-US style="font-size:9.0pt;">(420)</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" lang=EN-US style="font-size:9.0pt;">(19.3) </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" lang=EN-US style="font-size:9.0pt;">Administration costs</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" lang=EN-US style="font-size:9.0pt;">(765)</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" lang=EN-US style="font-size:9.0pt;">(672)</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" lang=EN-US style="font-size:9.0pt;">13.9 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(190)</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" lang=EN-US style="font-size:9.0pt;">(200)</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" lang=EN-US style="font-size:9.0pt;">(4.6) </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" lang=EN-US style="font-size:9.0pt;">Net margin before provisions (2)</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" lang=EN-US style="font-size:9.0pt;">(1,294)</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" lang=EN-US style="font-size:9.0pt;">(1,291)</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" lang=EN-US style="font-size:9.0pt;">0.2 </font></b></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td valign=bottom width=59% style="height:21.75pt;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-US 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:21.75pt;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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td width=15% style="border:none;height:21.75pt;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" lang=EN-US style="font-size:9.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=11% style="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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(98.4) </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" lang=EN-US style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td width=15% 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" lang=EN-US style="font-size:9.0pt;">(1,481)</font></font></p>
  </td>
 <td width=15% 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Operating profit/(loss) before tax</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:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">(2,775)</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:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">(1,329)</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" lang=EN-US style="font-size:9.0pt;">108.7 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">258</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" lang=EN-US style="font-size:9.0pt;">350</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" lang=EN-US style="font-size:9.0pt;">(26.4) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(2,517)</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" lang=EN-US style="font-size:9.0pt;">(979)</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" lang=EN-US style="font-size:9.0pt;">157.1 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US style="font-size:9.0pt;">633</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" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(2,517)</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" lang=EN-US style="font-size:9.0pt;">(346)</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" lang=EN-US 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" lang=EN-US 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 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(91.8) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(2,517)</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" lang=EN-US style="font-size:9.0pt;">(343)</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" lang=EN-US style="font-size:9.0pt;">n.m. (3)</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(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;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;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:8.0pt;">(2)&#160;&#160; &#8220;Net </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">margin</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">
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:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(3)&#160;&#160; Not </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">meaningful</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">.
</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;"><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: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 / (expense)</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;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;">Net interest expense of the Corporate Center for
the year ended December 31, 2019 was &#8364;233 million, a 13.4% decrease compared
with the &#8364;269 million net expense recorded for the year ended December 31,
2018, mainly due to lower funding costs.</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: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 the Corporate Center for the year ended December 31, 2019 was an
expense of &#8364;73 million, a 24.0% increase compared with the &#8364;59 million expense
recorded for the year ended December 31, 2018, mainly as a result of the higher
fees and commissions paid related to the issuance and placement of contingent
convertible bonds in 2019.</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 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:14.2pt;"><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 the Corporate Center for the
year ended December 31, 2019 were &#8364;54 million, a 65.0% decrease compared with
the &#8364;155 million net losses recorded for the year ended December 31, 2018, mainly
as a result of updated valuations being made at current market values of
certain investments.</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;">Other operating income and expense, net</font></i></b></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;text-indent:21.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Other net operating income of the Corporate
Center for the year ended December 31, 2019 was &#8364;41 million, compared with the
&#8364;82 million of net income recorded for the year ended December 31, 2018, mainly
as a result of the decreased dividends from Telef&#243;nica, S.A. (as it lowered its
dividends from &#8364;0.4 per share to &#8364;0.2 per share) and the lower dividend income
from investees accounted for under the equity method.</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;">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 the Corporate Center for the year ended December 31, 2019 amounted to &#8364;765
million, a 13.9% increase compared with the &#8364;672 million recorded for the year
ended December 31, 2018, mainly as a result of the increase in personnel
expense, partially offset by the lower rent expense as a result of the entry
into force of IFRS 16, which had the effect </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 accounting for the amortization of </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">right-to-use</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> assets under the heading &#8220;Depreciation and
amortization&#8221;</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 style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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: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;">Depreciation
and amortization</font></i></b></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;text-indent:18.0pt;"><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, 2019 was &#8364;190 million, a 4.6% decrease compared with the &#8364;200
million recorded for the year ended December 31, 2018.</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;">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:21.3pt;"><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 the Corporate Center for the year ended
December 31, 2019 were a &#8364;1,481 million expense compared with the &#8364;36 million
expense recorded for the year ended December 31, 2018, mainly as a result of
the goodwill impairment losses recognized in the United States CGU. This
impairment had a net negative impact on the &#8220;Profit attributable to parent
company&#8221; of &#8364;1,318 million, and was mainly the result of the negative changes
in interest rates, especially in the second half of 2019, which together with
the slowdown of the economy caused the expected results to be below the
previous estimate. For additional information, see Note 18.1 to our
Consolidated Financial Statements.</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;">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 the Corporate Center for the year ended
December 31, 2019 was &#8364;2,775 million compared with the &#8364;1,329 million loss
recorded for the year ended December 31, 2018.</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;">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
profit or loss from continuing operations of the Corporate Center for the year
ended December 31, 2019 amounted to &#8364;258 million, compared with the &#8364;350
million income recorded for the year ended December 31, 2018. Tax income
related to profit or loss from continuing operations in 2019 was affected by the
application of the amendment to IAS 12 in such year. In addition, tax income
related to profit or loss from continuing operations in 2018 was affected by
the recognition of the tax impact from the sale of BBVA&#8217;s stake in Chile in
such year. </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;">Profit from corporate operations, 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;">Profit from corporate
operations of the Corporate Center was nil for the year ended December 31,
2019, compared with the &#8364;633 million recorded for the year ended December 31,
2018, which related to the sale of our stake in BBVA Chile in 2018.</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;">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 the Corporate Center for
the year ended December 31, 2019 was a loss of &#8364;2,517 million, compared with
the &#8364;343 million loss recorded for the year ended December 31, 2018.</font></font></p>

<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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">140</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</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;"><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><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Results of Operations by Operating Segment for
2018 Compared with 2017</font></i></b></font></h3>

<h4 style="border:none;margin-bottom:12.0pt;margin-left:17.85pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:-8.5pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">SPAIN</font></b></font></h4>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_SpainN1" 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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 lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">2018</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" lang=EN-US style="font-size:8.0pt;">2017</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" lang=EN-US 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">3,698 </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" lang=EN-US style="font-size:9.0pt;">3,810 </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" lang=EN-US style="font-size:9.0pt;">(2.9)</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1,682 </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" lang=EN-US style="font-size:9.0pt;">1,563 </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" lang=EN-US style="font-size:9.0pt;">7.6 </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" lang=EN-US style="font-size:9.0pt;">Net gains (losses) on financial assets and
  liabilities and exchange differences, net (1)</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" lang=EN-US style="font-size:9.0pt;">529 </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" lang=EN-US style="font-size:9.0pt;">555 </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" lang=EN-US style="font-size:9.0pt;">(4.7)</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(425)</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" lang=EN-US style="font-size:9.0pt;">(204)</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" lang=EN-US style="font-size:9.0pt;">108.6 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">485 </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" lang=EN-US style="font-size:9.0pt;">438 </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" lang=EN-US style="font-size:9.0pt;">10.7 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">5,968 </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" lang=EN-US style="font-size:9.0pt;">6,162 </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" lang=EN-US style="font-size:9.0pt;">(3.2)</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(3,027)</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" lang=EN-US style="font-size:9.0pt;">(3,145)</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" lang=EN-US style="font-size:9.0pt;">(3.8) </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;"><font color=black face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(308)</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" lang=EN-US style="font-size:9.0pt;">(352)</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" lang=EN-US style="font-size:9.0pt;">(12.6) </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;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Net margin before provisions (2)</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" lang=EN-US style="font-size:9.0pt;">2,634 </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" lang=EN-US style="font-size:9.0pt;">2,665 </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" lang=EN-US style="font-size:9.0pt;">(1.2) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(383)</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" lang=EN-US style="font-size:9.0pt;">(705)</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" lang=EN-US style="font-size:9.0pt;">(45.6) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(410)</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" lang=EN-US style="font-size:9.0pt;">(771)</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" lang=EN-US style="font-size:9.0pt;">(46.8) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1,840 </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" lang=EN-US style="font-size:9.0pt;">1,189 </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" lang=EN-US style="font-size:9.0pt;">54.8 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(437)</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" lang=EN-US style="font-size:9.0pt;">(309)</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" lang=EN-US style="font-size:9.0pt;">41.2 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1,403 </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" lang=EN-US style="font-size:9.0pt;">879 </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" lang=EN-US style="font-size:9.0pt;">59.6 </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1,403 </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" lang=EN-US style="font-size:9.0pt;">879 </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" lang=EN-US style="font-size:9.0pt;">59.6 </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(2)</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" lang=EN-US style="font-size:9.0pt;">65.5 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1,400 </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" lang=EN-US style="font-size:9.0pt;">877 </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" lang=EN-US style="font-size:9.0pt;">59.6 </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:-14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;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:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">141</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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;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;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;3,698 million, a 2.9%
decrease compared with the &#8364;3,810 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 1.06% for the year ended December 31, 2018.</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, 2018
amounted to &#8364;1,682 million, a 7.6% increase compared with the &#8364;1,563 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: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, 2018 was a net gain of &#8364;529 million, a
4.7% 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: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, 2018 amounted
to &#8364;425 million, compared with the &#8364;204 million net operating expense 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: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, 2018 was &#8364;485 million, a 10.7% increase compared with the
&#8364;438 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: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;">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, 2018 amounted to
&#8364;3,027 million, a 3.8% decrease compared with the &#8364;3,145 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 changes in
efficiency plans (which generated savings of &#8364;19 million on communications,
rent and legal 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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">142</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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;"><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;">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 of this operating segment for the
year ended December 31, 2018 amounted to a &#8364;383 million expense, a 45.6%
decrease compared with the &#8364;705 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 and decreased
impaired assets due to the reduction of the size of the real-estate portfolio.</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;">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, 2018 were a &#8364;410 million expense, a 46.8% decrease compared
with the &#8364;771 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 and the decrease in
provisions related to early retirements and contributions to pension funds.</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;">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, 2018 was &#8364;1,840 million, a 54.8% increase compared with the
&#8364;1,189 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: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;">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: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;">Tax expense related
to profit from continuing operations of this operating segment for the year
ended December 31, 2018 was an expense of &#8364;437 million, a 41.2% increase
compared with the &#8364;309 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 23.7% of operating profit before tax for the year ended December
31, 2018 and 26.0% 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: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;">Profit attributable to parent company</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, profit attributable to parent company of this operating segment for
the year ended December 31, 2018 amounted to &#8364;1,400 million, a 59.6% increase
compared with the &#8364;877 million recorded for the year ended December 31, 2017.
</font></font></p>

<h4 style="border:none;margin-bottom:12.0pt;margin-left:17.85pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:-8.5pt;">&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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">143</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_149"></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:17.85pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:-8.5pt;"><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></h4>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_USAN1" 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(1.9) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">9</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" lang=EN-US style="font-size:9.0pt;">2</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Administration costs</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" lang=EN-US style="font-size:9.0pt;">(1,683)</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" lang=EN-US style="font-size:9.0pt;">(1,664)</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1,129</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" lang=EN-US style="font-size:9.0pt;">1,026</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td width=16% style="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" lang=EN-US style="font-size:9.0pt;">16</font></font></p>
  </td>
 <td 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Operating profit/(loss) before tax</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: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" lang=EN-US style="font-size:9.0pt;">920</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: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" lang=EN-US style="font-size:9.0pt;">749</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" lang=EN-US style="font-size:9.0pt;">22.8 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(185)</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" lang=EN-US style="font-size:9.0pt;">(263)</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" lang=EN-US style="font-size:9.0pt;">(29.8) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">736</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">51.2 </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">736</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">51.2 </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">736</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">51.2 </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:-14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;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:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;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:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">144</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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: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;">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><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</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: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;text-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;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 adopted by BBVA </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">USA</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> 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 2.96% for the year ended December 31, 2018.</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, 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: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 (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: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
income of this operating segment for the year ended December 31, 2018 was &#8364;9
million, compared with the &#8364;2 million net income recorded for the year ended
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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">145</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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;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;">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, 2018 amounted to
&#8364;1,683 million, a 1.2% increase compared with the &#8364;1,664 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: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;">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 of this operating segment for the
year ended December 31, 2018 was a &#8364;225 million expense, a 6.8% decrease
compared 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, 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: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;">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, 2018 was &#8364;920 million, a 22.8% increase compared with the
&#8364;749 million of operating profit 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: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;">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: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;">Tax expense related
to profit from continuing operations of this operating segment for the year
ended December 31, 2018 was &#8364;185 million, a 29.8% decrease compared with the
&#8364;263 million expense recorded for the year ended December 31, 2017. Tax expense
amounted to 20.1% 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: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;">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 amounted to &#8364;736 million, a 51.2% increase
compared with the &#8364;486 million recorded 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:12.0pt;"> &nbsp;
</font></font></p>

<h4 style="border:none;margin-bottom:12.0pt;margin-left:17.85pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:-8.5pt;">&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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">146</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</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>
<h4 style="border:none;margin-bottom:12.0pt;margin-left:17.85pt;margin-right:0cm;margin-top:6.0pt;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;">MEXICO</font></b></font></h4>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_MexicoN1" style="border-collapse:collapse;width:100%;">
 <tr style="height:26.25pt;">
  <td nowrap valign=bottom width=56% 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 lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=33% 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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=56% 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 lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom 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 style="border:none;"><b><u><font color=black face="Times New Roman,serif" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">Change</font></b></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td width=56% 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 lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=33% 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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">(In %)</font></b></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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Net interest income</font></b></font></p>
  </td>
 <td width=17% 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1.7 </font></b></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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Net fees and commissions</font></font></p>
  </td>
 <td width=17% 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(1.2) </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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Net gains (losses) on financial assets and
  liabilities and exchange differences, net (1)</font></font></p>
  </td>
 <td width=17% 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(10.4) </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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Other operating income and expense, net</font></font></p>
  </td>
 <td 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" lang=EN-US style="font-size:9.0pt;">(236)</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" lang=EN-US style="font-size:9.0pt;">(239)</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" lang=EN-US style="font-size:9.0pt;">(1.2) </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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Income and expense on insurance and
  reinsurance contracts</font></font></p>
  </td>
 <td width=17% 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" lang=EN-US style="font-size:9.0pt;">433</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" lang=EN-US style="font-size:9.0pt;">416</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" lang=EN-US style="font-size:9.0pt;">4.1 </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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Gross income</font></b></font></p>
  </td>
 <td width=17% 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1.0 </font></b></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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Administration costs</font></font></p>
  </td>
 <td 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" lang=EN-US style="font-size:9.0pt;">(2,139)</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" lang=EN-US style="font-size:9.0pt;">(2,220)</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" lang=EN-US style="font-size:9.0pt;">(3.6) </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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Depreciation and amortization</font></font></p>
  </td>
 <td 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(1.3) </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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Net margin before provisions (2)</font></b></font></p>
  </td>
 <td width=17% 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" lang=EN-US style="font-size:9.0pt;">4,800</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" lang=EN-US style="font-size:9.0pt;">4,646</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" lang=EN-US style="font-size:9.0pt;">3.3 </font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td valign=bottom width=56% 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" lang=EN-US 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=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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(5.8) </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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">n.m. (3)</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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Operating profit/(loss) before tax</font></b></font></p>
  </td>
 <td width=17% 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" lang=EN-US style="font-size:9.0pt;">3,269</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" lang=EN-US style="font-size:9.0pt;">2,960</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" lang=EN-US style="font-size:9.0pt;">10.5 </font></b></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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Tax expense or income related to profit or
  loss from continuing operations</font></font></p>
  </td>
 <td 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" lang=EN-US style="font-size:9.0pt;">(901)</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" lang=EN-US style="font-size:9.0pt;">(789)</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" lang=EN-US style="font-size:9.0pt;">14.2 </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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Profit from continuing operations</font></b></font></p>
  </td>
 <td width=17% 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" lang=EN-US style="font-size:9.0pt;">2,368</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" lang=EN-US style="font-size:9.0pt;">2,170</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" lang=EN-US style="font-size:9.0pt;">9.1 </font></b></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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Profit from corporate operations, net</font></font></p>
  </td>
 <td width=17% 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">- </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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Profit</font></b></font></p>
  </td>
 <td width=17% 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" lang=EN-US style="font-size:9.0pt;">2,368</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" lang=EN-US style="font-size:9.0pt;">2,170</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" lang=EN-US style="font-size:9.0pt;">9.1 </font></b></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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Profit attributable to non-controlling
  interests</font></font></p>
  </td>
 <td 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">-</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 style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Profit attributable to parent company</font></b></font></p>
  </td>
 <td width=17% 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" lang=EN-US style="font-size:9.0pt;">2,367</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" lang=EN-US style="font-size:9.0pt;">2,170</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" lang=EN-US style="font-size:9.0pt;">9.1 </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:-14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;line-height:115%;">&#160;(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:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;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:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;line-height:115%;">(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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">147</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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;text-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 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: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;text-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;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 the higher net interest
income from the retail portfolio, the lower cost of deposits and the 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 5.81%
for 2018.</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, 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: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, 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: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 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 1.2% 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: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, 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>


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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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">148</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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;"><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;">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, 2018 were &#8364;2,139
million, a 3.6% decrease compared with the &#8364;2,220 million recorded for the year
ended December 31, 2017, mainly as a result of the depreciation of the Mexican
peso 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;"><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 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 loss
allowances on financial assets.</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;">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, 2018 was &#8364;3,269 million, a 10.5% increase compared with the
&#8364;2,960 million of operating profit 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: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;">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: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;">Tax expense related
to profit from continuing operations of this operating segment for the year
ended December 31, 2018 was &#8364;901 million, a 14.2% increase compared with the
&#8364;789 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: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;">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 amounted to &#8364;2,367 million, a 9.1% increase
compared with the &#8364;2,170 million recorded for the year ended December 31, 2017.
</font></font></p>

<h4 style="border:none;margin-bottom:12.0pt;margin-left:17.85pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:-8.5pt;">&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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">149</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_155"></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:17.85pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:-8.5pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">TURKEY</font></b></font></h4>

<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;">From July 2015 to
March 2017, we held 39.90% of Garanti BBVA&#8217;s share capital and, on March 22,
2017, we completed the acquisition of an additional 9.95% stake in Garanti
BBVA, increasing our total holding of Garanti BBVA&#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&#8221;.</font></i></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_TurkeyN1" 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(24.2) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">23</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" lang=EN-US style="font-size:9.0pt;">5</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">46</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" lang=EN-US style="font-size:9.0pt;">62</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Administration costs</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" lang=EN-US style="font-size:9.0pt;">(1,109)</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" lang=EN-US style="font-size:9.0pt;">(1,329)</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">2,654</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" lang=EN-US style="font-size:9.0pt;">2,608</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1,444</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" lang=EN-US style="font-size:9.0pt;">2,143</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" lang=EN-US style="font-size:9.0pt;">(32.6) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(293)</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" lang=EN-US style="font-size:9.0pt;">(425)</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" lang=EN-US style="font-size:9.0pt;">(31.1) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1,151</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" lang=EN-US style="font-size:9.0pt;">1,718</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" lang=EN-US style="font-size:9.0pt;">(33.0) </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1,151</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" lang=EN-US style="font-size:9.0pt;">1,718</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" lang=EN-US style="font-size:9.0pt;">(33.0) </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">567</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" lang=EN-US style="font-size:9.0pt;">823</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" lang=EN-US style="font-size:9.0pt;">(31.1) </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:-14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;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:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;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:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;line-height:115%;">(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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">150</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_156"></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;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 Turkish lira depreciated 27.8% against the
euro in average terms in 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: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;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 4.35% for the year ended December 31, 2018.</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: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: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: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 global markets, asset and
liabilities management and derivatives.</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: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 income 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: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: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>


<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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">151</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_157"></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: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;">Administration
costs</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;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;1,109 million, a 16.6% decrease compared with the &#8364;1,329 million recorded for
the year ended December 31, 2017, mainly as a result of the depreciation of the
Turkish lira, partially offset by the impact of inflation in 2018. </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;">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: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, 2018 was a &#8364;1,202 million expense, 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>

<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;">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: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, 2018 was &#8364;1,444 million, a 32.6% decrease compared with the
&#8364;2,143 million of operating profit 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: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;">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:6.0pt;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, 2018 was &#8364;293 million, a 31.1% decrease compared with the
&#8364;425 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 19.8% 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: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;">Profit attributable to non-controlling interests</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;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, 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 BBVA on March 22, 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;">Profit attributable to parent company</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;">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;567 million, a 31.1% decrease compared with the
&#8364;823 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 BBVA on March 22, 2017.
</font></font></p>

<h4 style="border:none;margin-bottom:12.0pt;margin-left:17.85pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:-8.5pt;">&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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">152</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_158"></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:17.85pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:-8.5pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">SOUTH AMERICA</font></b></font></h4>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_SouthAmericaN1" 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(15.7) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(454)</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" lang=EN-US style="font-size:9.0pt;">(113)</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">110</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" lang=EN-US style="font-size:9.0pt;">172</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Administration costs</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" lang=EN-US style="font-size:9.0pt;">(1,584)</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" lang=EN-US style="font-size:9.0pt;">(1,906)</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" lang=EN-US style="font-size:9.0pt;">(16.9) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(125)</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" lang=EN-US style="font-size:9.0pt;">(121)</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1,992</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" lang=EN-US style="font-size:9.0pt;">2,424</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" lang=EN-US style="font-size:9.0pt;">(17.8) </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">1,288</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" lang=EN-US style="font-size:9.0pt;">1,671</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(469)</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(2.3) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">819</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" lang=EN-US style="font-size:9.0pt;">1,192</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" lang=EN-US style="font-size:9.0pt;">(31.2) </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">819</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" lang=EN-US style="font-size:9.0pt;">1,192</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" lang=EN-US style="font-size:9.0pt;">(31.2) </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(29.9) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">578</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" lang=EN-US style="font-size:9.0pt;">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" lang=EN-US style="font-size:9.0pt;">(31.8) </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:-14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;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:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;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:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;line-height:115%;">(3) 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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">153</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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;text-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 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&nbsp; expressed in euros.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;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:0cm;margin-bottom:.0001pt;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></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 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, 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. The net interest margin over total average assets of
this operating segment amounted to 4.65% for the year ended December 31, 2018.</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, 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: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, 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: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, 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: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, 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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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;">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, 2018 amounted to
&#8364;1,584 million, a 16.9% decrease compared with the &#8364;1,906 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 and the sale of BBVA Chile partially
offset by the impact of the high inflation registered in some countries of the
region.</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;">Depreciation and amortization</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;">Depreciation and
amortization for the year ended December 31, 2018 was &#8364;125 million, a 3.2%
increase compared with 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: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;">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 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 </font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">assets&nbsp;</font><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> 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;&nbsp;</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;">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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Provisions</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> 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.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </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;">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, 2018 was &#8364;1,288 million, a 22.9% decrease compared with the
&#8364;1,671 million of operating profit 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: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;">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: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;">Tax expense related
to profit from continuing operations of this operating segment for the year
ended December 31, 2018 was &#8364;469 million, a 2.3% decrease compared with the
&#8364;480 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 36.4% 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: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;">Profit attributable to non-controlling interests</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;">Profit attributable
to non-controlling interests of this operating segment for the year ended
December 31, 2018 amounted to &#8364;241 million, a 29.9% 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: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;">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 amounted to &#8364;578 million, a 31.8% decrease
compared with the &#8364;847 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:17.85pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:-8.5pt;">&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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">155</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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>
<h4 style="border:none;margin-bottom:12.0pt;margin-left:17.85pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:-8.5pt;"><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></h4>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_EurasiaN1" 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(2.7) </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(17.3) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">413</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(281)</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(4.2) </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">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" lang=EN-US style="font-size:9.0pt;">164</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" lang=EN-US style="font-size:9.0pt;">(22.2) </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td 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" lang=EN-US style="font-size:9.0pt;">(3)</font></font></p>
  </td>
 <td 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Operating profit/(loss) before tax</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: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" lang=EN-US style="font-size:9.0pt;">148</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: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" lang=EN-US style="font-size:9.0pt;">181</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" lang=EN-US style="font-size:9.0pt;">(18.3) </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(53)</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" lang=EN-US style="font-size:9.0pt;">(2.7) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">96</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" lang=EN-US style="font-size:9.0pt;">128</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" lang=EN-US style="font-size:9.0pt;">(24.8) </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">96</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" lang=EN-US style="font-size:9.0pt;">128</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" lang=EN-US style="font-size:9.0pt;">(24.8) </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">96</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" lang=EN-US style="font-size:9.0pt;">128</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" lang=EN-US style="font-size:9.0pt;">(24.8) </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:-14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;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:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;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:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;line-height:115%;">(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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">156</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</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: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;text-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 2.7% 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: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, 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: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, 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: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;">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, 2018 amounted to &#8364;281
million, a 4.2% decrease compared with the &#8364;293 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: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;">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 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: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;">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;148 million, an 18.3% decrease compared with the
&#8364;181 million of operating profit 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: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;">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: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;">Tax expense related
to profit from continuing operations of this operating segment for the year
ended December 31, 2018 was &#8364;52 million, a 2.7% decrease compared with the &#8364;53
million expense recorded for the year ended December 31, 2017. Consequently,
the effective tax rate amounted to 35.1% 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: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;">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 amounted to &#8364;96 million, a 24.8% decrease
compared with the &#8364;128 million recorded for the year ended December 31, 2017.
</font></font></p>

<h4 style="border:none;margin-bottom:12.0pt;margin-left:17.85pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:-8.5pt;">&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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">157</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_163"></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:17.85pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:-8.5pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CORPORATE CENTER</font></b></font></h4>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_CorporateN1" 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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 lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(269)</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(24.7) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(59)</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(32.1) </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" lang=EN-US 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 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(155)</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">82</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" lang=EN-US style="font-size:9.0pt;">101</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" lang=EN-US style="font-size:9.0pt;">(19.2) </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(19)</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" lang=EN-US style="font-size:9.0pt;">(1.1) </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" lang=EN-US 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 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">(420)</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" lang=EN-US style="font-size:9.0pt;">74</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Administration costs</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" lang=EN-US style="font-size:9.0pt;">(672)</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" lang=EN-US style="font-size:9.0pt;">(556)</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" lang=EN-US 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;"><font color=black face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(200)</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" lang=EN-US style="font-size:9.0pt;">(282)</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" lang=EN-US style="font-size:9.0pt;">(29.2) </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" lang=EN-US 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 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">(1,291)</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" lang=EN-US style="font-size:9.0pt;">(764)</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" lang=EN-US style="font-size:9.0pt;">69.0 </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(2)</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(99.8) </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" lang=EN-US style="font-size:9.0pt;">Provisions or reversal of provisions and other
  results</font></font></p>
  </td>
 <td 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" lang=EN-US style="font-size:9.0pt;">(36)</font></font></p>
  </td>
 <td 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(50.6) </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" lang=EN-US style="font-size:9.0pt;">Operating profit/(loss) before tax</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:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">(1,329)</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:12.0pt;padding:0cm 20.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">(1,962)</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" lang=EN-US style="font-size:9.0pt;">(32.2) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">350</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" lang=EN-US style="font-size:9.0pt;">146</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" lang=EN-US style="font-size:9.0pt;">140.3 </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" lang=EN-US style="font-size:9.0pt;">Profit from continuing operations excluding
  corporate 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" lang=EN-US style="font-size:9.0pt;">(979)</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" lang=EN-US style="font-size:9.0pt;">(1,816)</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" lang=EN-US style="font-size:9.0pt;">(46.1) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">633</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(346)</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" lang=EN-US style="font-size:9.0pt;">(1,816)</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" lang=EN-US style="font-size:9.0pt;">(81.0) </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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">3</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(343)</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" lang=EN-US style="font-size:9.0pt;">(1,817)</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" lang=EN-US style="font-size:9.0pt;">(81.1) </font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:-14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;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:.0001pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;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:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;line-height:115%;">(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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">158</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</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;"><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 / (expense)</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 expense
of the Corporate Center for the year ended December 31, 2018 was &#8364;269 million,
a 24.7% 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 trend of interest rates.</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 the Corporate Center 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: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 losses on
financial assets and liabilities and exchange differences of the Corporate
Center 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 China CITIC Bank Corporation
Limited (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CNCB</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;) in 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;">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
income of the Corporate Center for the year ended December 31, 2018 was &#8364;82
million, a 19.2% decrease compared with the &#8364;101 million net income recorded
for the year ended December 31, 2017, 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;0.40
per share, and from CNCB, as a result both of a decrease in the amount of
dividends distributed per share and 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: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;">Income and expense on
insurance and reinsurance contracts of the Corporate Center for the year ended
December 31, 2018 and 2017 was an expense of &#8364;19 million.
</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">159</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</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: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;">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 the Corporate Center for the year ended December 31, 2018 amounted to &#8364;672
million, a 20.8% increase compared with the &#8364;556 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: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;">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 of the Corporate Center for the
year ended December 31, 2018 amounted to a &#8364;2 million expense, compared with the
&#8364;1,125 million expense recorded for the year ended December 31, 2017, which
related mainly to the recognition of loss allowances 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: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;">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 the Corporate Center for the year
ended December 31, 2018 were a &#8364;36 million expense, a 50.6% decrease compared
with the &#8364;73 million expense 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: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;">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 the Corporate Center for the year ended
December 31, 2018 was &#8364;1,329 million, a 32.2% decrease compared with the &#8364;1,962
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: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;">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: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;">Tax income related to
profit or loss from continuing operations of the Corporate Center for the year
ended December 31, 2018 amounted to &#8364;350 million, compared with the &#8364;146
million income 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: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;">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 the Corporate Center for
the year ended December 31, 2018 was a loss of &#8364;343 million, compared with the
&#8364;1,817 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>

<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" lang=EN-US style="font-size:10.0pt;">B.&#160;&#160; Liquidity and
Capital Resources</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;">See Note 7.4 to our Consolidated Financial
Statements for information on the BBVA Group</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8217;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">s liquidity.
Certain additional information is provided 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;">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</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;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following table
shows the balances as of December 31, 2019, 2018 and 2017 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 title="F_20F_SMSR_5B13" 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">2019</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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">2017</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">33,585</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">37,054</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">53,720</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">54,516</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">394,924</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">376,379</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">68,619</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">63,915</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">18,168</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">14,072</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">569,016</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">545,936</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">160</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</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: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;">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;394,924
million as of December 31, 2019 compared with &#8364;388,682 million as of December
31, 2018 (&#8364;376,379 million as of December 31, 2017), a 1.6% increase,
attributable in part to the increase in time deposits in Mexico and the United
States and the increase in demand and savings deposits 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 repurchase
agreements, amounted to &#8364;385,150 million as of December 31, 2019 compared with
&#8364;374,763 million as of December 31, 2018 (&#8364;367,300 million 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;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;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><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, 2019, 2018 and 2017:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_5B21" 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 valign=top 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" lang=EN-US 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=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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">2019</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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border: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-US style="font-size:8.0pt;">2018</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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border: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-US style="font-size:8.0pt;">2017</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">53,720</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">54,516</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">33,585</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">37,054</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">87,305</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">91,570</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;">Deposits from credit
institutions and central banks amounted to &#8364;87,305 million as of December 31,
2019 compared with the &#8364;85,457 million as of December 31, 2018 (&#8364;91,570 million
as of December 31, 2017). The increase as of December 31, 2019 compared to December
31, 2018 was mainly attributable to higher volumes of repurchase agreements
with credit institutions in Spain. 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, 2019 we had &#8364;46,329 million of debt certificates, comprising &#8364;44,381
million in bonds and debentures and &#8364;1,947 million in promissory notes and
other securities, compared with &#8364;43,477 million, &#8364;39,973 million and &#8364;3,504
million outstanding, respectively, as of December&nbsp;31, 2018, and &#8364;47,027
million, &#8364;42,561 million and &#8364;4,466 million outstanding, respectively, as of
December 31, 2017 (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;17,859 million
in subordinated debt and subordinated deposits and &#8364;159 million in preferred
securities outstanding as of December 31, 2019 compared with &#8364;17,866 million
and &#8364;181 million, respectively, as of December 31, 2018 (&#8364;17,153 million and
&#8364;163 million, respectively, 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-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, 2019</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.
Regulatory equity instruments have been classified according to their
contractual maturity:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_5B43" 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Debt certificates (including bonds)</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">973</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">1,633</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">7,828</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">26,862</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">9,032</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">46,329</font></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td valign=top width=30% style="height:23.25pt;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" lang=EN-US style="font-size:9.0pt;">Subordinated debt, subordinated deposits and
  preferred securities</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">134</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">289</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">12</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">719</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">2,570</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">14,294</font></font></p>
  </td>
 <td nowrap valign=bottom width=10% 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 style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">18,018</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" lang=EN-US style="font-size:9.0pt;">Total</font></b></font></p>
  </td>
 <td valign=top 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" lang=EN-US style="font-size:9.0pt;">134</font></b></font></p>
  </td>
 <td valign=top 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" lang=EN-US style="font-size:9.0pt;">1,262</font></b></font></p>
  </td>
 <td valign=top 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" lang=EN-US style="font-size:9.0pt;">1,646</font></b></font></p>
  </td>
 <td valign=top 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" lang=EN-US style="font-size:9.0pt;">8,547</font></b></font></p>
  </td>
 <td valign=top 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" lang=EN-US style="font-size:9.0pt;">29,432</font></b></font></p>
  </td>
 <td valign=top 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" lang=EN-US style="font-size:9.0pt;">23,327</font></b></font></p>
  </td>
 <td valign=top 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" lang=EN-US style="font-size:9.0pt;">64,347</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">161</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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-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 </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">USA</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, 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
</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">USA</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, 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 </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">USA</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, 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 </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">USA</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> 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-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 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: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;">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, 2019, 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: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 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;text-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 4, 2019 BBVA received a
communication of the ECB about the results of the Supervisory Review and
Evaluation Process (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">SREP</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;).&nbsp;</font></font></p>

<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:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For information on our updated SREP
requirements, o</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">ur consolidated
ratios as of December 31, 2019</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">,
2018 and 2017, our risk-weighted assets, our MREL requirements and the capital
issuances of Banco Bilbao Vizcaya Argentaria, S.A., see Note 32.1 to our
Consolidated Financial Statements.</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" lang=EN-US style="font-size:10.0pt;">C.&#160;&#160;
Research and Development, Patents and Licenses, etc.</font></b></font></h2>

<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 2019,
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: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 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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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: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" lang=EN-US style="font-size:10.0pt;">D.&nbsp;&nbsp;
Trend Information</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 European
financial services sector is expected to remain competitive in the current
challenging environment. See </font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 4. Information on the Company&#8213;Competition&#8221;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.&nbsp;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
&nbsp;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160;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. 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 more than 10 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, the lack of homogeneity at the European level makes
it difficult for investors to evaluate financial institutions and often imposes
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><a name="page_202"></a><a name="page_202_bclEnd"></a></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;">Regarding consumer
protection rules, MiFID II is the legislative framework instituted by the
European Union (EU) to regulate financial markets in the bloc and improve
protections for investors. Its aim is to standardize practices across the EU
and restore confidence in the industry, especially after the 2008 financial
crisis. A revised version of the original MiFID, was rolled out on January 3,
2018, more than six years after the European Commission, the EU's executive
branch, adopted a legislative proposal for it. Technically, MiFID II applies to
the legislative framework, and the rules it outlines are actually the Markets
in Financial Instruments Regulation (MiFIR); but colloquially, the term MiFID is
used to mean both.</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 speaking,
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 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;">In order to promote
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) 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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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;">Another key regulation for consumer protection in Europe is
the Packaged Retail and Insurance-based Investment Products (&#8220;PRIIPs&#8221;) that
came into effect in January 2018. The PRIIPs regulation aims to increase
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 Regulatory Technical
Standards (RTS) that define the Level 2 requirements of the PRIIPs Regulation
are in effect as from January 1, 2018, including both presentation and content
of the Key Investor Document (KIDs).</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><a name="page_203"></a><a name="page_203_bclEnd"></a></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 2019, 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 on January
1, 2021, the date when it will become binding for the Group.</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 June 2019, the
CRD-IV entered into force in Europe, which reviews the prudential capital (CRR
and CRD IV) and bank resolution (BRRD and SRM Regulation) frameworks. The
purpose of this review is to implement the latest Basel standards (excluding
Basel IV), the TLAC requirement and some technical adjustments identified in
previous years. There will be a one and one-half to two year transposition
process, although some elements will enter into force immediately (for example,
TLAC for G-SIIs). In 2020, the focus will be on national transposition and the
corresponding legislative changes, as well as the development of &#8220;level 2&#8221;
norms by the EBA.</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;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">E.&#160;&#160; Off-Balance Sheet Arrangements</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:18.15pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Note 33 to the Consolidated Financial Statements
provides information on loan commitments and financial guarantees given by the
Group as of December 31, 2019, 2018 and 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:18.15pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The following table
provides information regarding assets under management as of the dates
indicated:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_20F_SMSR_5E.3" 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">2019</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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;">2017</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">68,639</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=EN-US 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" lang=EN-US style="font-size:9.0pt;">59,644</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">36,630</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=EN-US 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" lang=EN-US style="font-size:9.0pt;">33,985</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">2,534</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=EN-US 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" lang=EN-US style="font-size:9.0pt;">3,081</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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">107,803</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=EN-US style="font-size:9.0pt;">98,150</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=EN-US style="font-size:9.0pt;">96,710</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-align:justify;text-indent:18.15pt;"><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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">164</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_170"></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:18.15pt;"><font style="border:none;"><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:6.0pt;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;">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, 2019</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 title="F_20F_SMSR_5F1" style="border-collapse:collapse;width:100%;">
 <tr style="height:21.75pt;">
  <td valign=bottom width=34% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=bottom width=15% 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" lang=EN-US style="font-size:8.0pt;">Less Than One Year</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" lang=EN-US style="font-size:8.0pt;">One to Three 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" lang=EN-US style="font-size:8.0pt;">Three to 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" lang=EN-US style="font-size:8.0pt;">Over Five Years</font></b></font></p>
  </td>
 <td valign=bottom width=12% 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" lang=EN-US style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=34% 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 valign=bottom width=66% 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" lang=EN-US style="font-size:8.0pt;">(In Millions of
  Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=34% 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" lang=EN-US style="font-size:9.0pt;">Debt certificates (including bonds) </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" lang=EN-US style="font-size:9.0pt;">10,435</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" lang=EN-US style="font-size:9.0pt;">15,990</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" lang=EN-US style="font-size:9.0pt;">10,872</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" lang=EN-US style="font-size:9.0pt;">9,032</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% 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" lang=EN-US style="font-size:9.0pt;">46,329</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=top width=34% 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" lang=EN-US style="font-size:9.0pt;">Subordinated debt, subordinated deposits and
  preferred securities</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" lang=EN-US style="font-size:9.0pt;">1,154</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" lang=EN-US style="font-size:9.0pt;">2,346</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" lang=EN-US style="font-size:9.0pt;">224</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" lang=EN-US style="font-size:9.0pt;">14,294</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% 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" lang=EN-US style="font-size:9.0pt;">18,018</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=top width=34% 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" lang=EN-US style="font-size:9.0pt;">Customer deposits </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" lang=EN-US style="font-size:9.0pt;">366,531</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" lang=EN-US style="font-size:9.0pt;">7,559</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" lang=EN-US style="font-size:9.0pt;">1,097</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" lang=EN-US style="font-size:9.0pt;">9,032</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" lang=EN-US style="font-size:9.0pt;">384,219</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=top width=34% 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" lang=EN-US style="font-size:9.0pt;">Capital lease obligations </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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">-</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" lang=EN-US style="font-size:9.0pt;">-</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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Operating lease obligations </font></font></p>
  </td>
 <td nowrap valign=bottom width=15% 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" lang=EN-US style="font-size:9.0pt;">279</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" lang=EN-US style="font-size:9.0pt;">253</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" lang=EN-US style="font-size:9.0pt;">554</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" lang=EN-US style="font-size:9.0pt;">1,879</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" lang=EN-US style="font-size:9.0pt;">2,965</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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Purchase obligations </font></font></p>
  </td>
 <td nowrap valign=bottom width=15% 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" lang=EN-US style="font-size:9.0pt;">23</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">23</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Post-employment benefits (1) </font></font></p>
  </td>
 <td nowrap valign=bottom width=15% 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" lang=EN-US style="font-size:9.0pt;">764</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" lang=EN-US style="font-size:9.0pt;">1,297</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" lang=EN-US style="font-size:9.0pt;">991</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" lang=EN-US style="font-size:9.0pt;">2,018</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" lang=EN-US style="font-size:9.0pt;">5,070</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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Insurance commitments (2)</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% 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" lang=EN-US style="font-size:9.0pt;">1,571</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" lang=EN-US style="font-size:9.0pt;">1,197</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" lang=EN-US style="font-size:9.0pt;">1,806</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" lang=EN-US style="font-size:9.0pt;">6,032</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% 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" lang=EN-US style="font-size:9.0pt;">10,606</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td valign=bottom width=34% 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" lang=EN-US style="font-size:9.0pt;">Total (3) </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 29.0pt 0cm 2.0pt;">
  <p align=right style="border:none;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-US style="font-size:9.0pt;">380,756</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" lang=EN-US style="font-size:9.0pt;">28,643</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" lang=EN-US style="font-size:9.0pt;">15,543</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" lang=EN-US style="font-size:9.0pt;">42,288</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=12% 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" lang=EN-US style="font-size:9.0pt;">467,230</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:.0001pt;margin-left:21.3pt;margin-right:0cm;margin-top:3.0pt;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:9.0pt;">(1)&#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-bottom:.0001pt;margin-left:21.25pt;margin-right:0cm;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:9.0pt;">(2)&#160;&#160; Liabilities under insurance and reinsurance contracts.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:21.25pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(3)&#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, 2019. The financial cost of such issuances for
2019, 2018 and 2017 is included in Note 37.2 to the Consolidated Financial
Statements.</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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">165</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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-bottom:10.0pt;margin-left:21.25pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>

<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" lang=EN-US style="font-size:10.0pt;">ITEM 6.&#160;&#160; DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES</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;">Our Board of
Directors is committed to ensuring 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: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;">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 include 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 Board Regulations.</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;">General shareholders&#8217;
meetings are subject to their own set of regulations on issues such as how they
operate and what rights shareholders have at such meetings. These establish the
possibility of exercising or delegating votes over remote communication media.</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;">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 2019, according to the
forms set forth under Spanish regulation for listed companies.</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;">Shareholders and
investors may find the documents referred to above on our website
(www.bbva.com), under the &#8220;Shareholders and Investors&#8221; and &#8220;Corporate
Governance and Remuneration Policy&#8221; sections.</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;">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 Spanish 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;text-align:justify;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">A.&#160;&#160;
Directors and Senior Management </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;">We are managed by a
Board of Directors that is currently composed of 15 members.</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;">Pursuant to Article 1
of the Board Regulations, Bank directorships may be executive or non-executive.
Executive directors are those who perform management duties in the Bank or any
of its Group companies, irrespective of the legal relationship they have with
it. All other Board members will hold non-executive directorships, and may be
proprietary, independent or other external directors.</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;">Independent directors are those non-executive directors who have been
appointed based on their personal and professional qualities and who may
perform their duties without being constrained by their relationship with the
Company, or its Group, its significant shareholders or managers. Under the Board
Regulations, directors may not be considered independent <a name="_cp_text_1_658"></a>in any of the following situations:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;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;">(a)&#160;&#160; they have been employees or have been
executive directors of Group companies in the last three or five years,
respectively;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;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;">(b)&#160;&#160; they receive from the Bank, or from Group
companies, any amount or benefit for any item other than director&#8217;s
remuneration, except for those which are not significant for such director. For
the purposes of this item, neither dividends nor pension allowances received by
directors relating to their previous professional or employment relations will
be taken into account, provided that said allowances are unconditional in
nature and, therefore, the company that provides said allowances may not
suspend, modify or revoke their accrual at its discretion without breaching its
obligations; </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;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;">(c)&#160;&#160; they are, or have been in the past three
years, a partner of an external auditor or have been responsible during this
time for the auditor&#8217;s report of the Company or any other company within its
Group; </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;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;">(d)&#160;&#160; they are executive directors or senior
managers of another company for which an executive director or senior manager
of the Company is an external director;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;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;">(e)&#160;&#160; they have, or have had over the last year,
a significant business relationship with the Bank or any company within its
Group, whether in their own name or as a significant shareholder, director or
senior manager of a company that has, or has had, such a relationship. Business
relationships include supplying goods or services, including financial
services, as well as acting as an adviser or consultant; </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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">166</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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:12.0pt;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;">(f)&#160;&#160; they are
significant shareholders, executive directors or senior managers of a company
that receives, or has received in the past three years, donations from the
Company or from its Group. Those who are simply trustees of a foundation
receiving donations will not be considered included in this item; </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;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;">(g)&#160;&#160; they are spouses, partners in a similar
relationship of affection or relatives up to the second degree of 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-align:justify;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; they have not been proposed for
appointment or renewal by the Appointments and Corporate Governance Committee;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;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;">(i)&#160;&#160; they have been directors for a continuous
period of more than twelve 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-align:justify;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; in relation to a significant shareholder
or shareholder represented on the Board of Directors, any of the circumstances
referred to in items (a), (e), (f) or (g) above shall apply. In the event of
the kinship relations referred to in item (g), the limitation will apply not
only to the shareholder, but also to any proprietary directors of the company
in which shares are held.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:36.0pt;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;">Directors with a shareholding in the Company may be
considered independent provided that they do not meet the conditions above and,
in addition, that their shareholding is not legally regarded as 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;text-align:justify;"><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: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 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: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, the Board
of Directors, at its meeting on April 29, 2019, approved amendments to the
Regulations of the Board of Directors and to those of its committees. As a
result, all Board committees have their own regulations with the following
characteristics in common: (i) harmonized structure and content; (ii) the
specific functions of the respective committee; and (iii) referral to the
Regulations of the Board as regards the operation of the committee in all
matters not provided for in each set of regulations.</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 full text of the
Board Regulations and those of the Board committees can be <a name="_cp_text_1_660"></a>found on BBVA&#8217;s website (www.bbva.com).</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 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: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;">Performance of Directors&#8217; Duties</font></i></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;">Directors must fulfil
the duties imposed by applicable law and the Bylaws with fidelity to the
corporate interest, which is understood as the interest of the Company.</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;">They will participate
in the deliberations, discussions and debates on matters submitted for their
consideration, and they should clearly express their opposition when they
consider that any proposal submitted to the Bank&#8217;s corporate bodies may be
contrary to the corporate interest and will be provided in advance with the
information needed to form an opinion with respect to the matters within the
remit of the Bank&#8217;s corporate bodies. They may ask for any additional
information and advice required to perform their duties. They must devote to
their duty the necessary time and effort to perform it effectively and are
required to attend the meetings of the corporate bodies on which they sit,
except for a justifiable reason.</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 directors may
also request the Board of Directors for external expert assistance for any
matters submitted to their consideration whose special complexity or importance
so requires.</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;">Conflicts of Interest</font></i></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 rules comprising
the Board Regulations 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 Board Regulations are in line with the
specific regulations established in 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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">167</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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: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;">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: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;">Incompatibilities </font></i></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;">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 simultaneously hold more
positions than those provided for in the following combinations: (i) one executive
position and two non-executive positions; or (ii) four non-executive positions.
Executive positions are understood to be those that undertake management duties
irrespective of the legal bond attributed by those duties. The following will
count as a single position: 1) executive or non-executive positions held within
the same group; 2) executive or non-executive positions held within (i)
entities that form part of the same institutional protection scheme or (ii) traded
companies in which the entity holds a significant shareholding. Positions held
in non-profit organizations or entities or companies pursuing non-commercial
purposes will not count when determining the maximum number of positions.
Nevertheless, the Bank of Spain may authorize members of the Board to hold an
additional non-executive position if it deems that this would not interfere
with the proper performance of the director&#8217;s activities in the credit
institution. </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, pursuant
to the provisions of Article 11 of Board Regulations, directors may not provide
professional services to companies competing with the Bank or any of <a name="_cp_text_1_668"></a>its Group companies, 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 appropriate, or unless
<a name="_cp_text_1_672"></a>these activities <a name="_cp_text_1_674"></a>had
been provided or conducted before the <a name="_cp_text_1_676"></a>director
joined the Bank, <a name="_cp_text_1_678"></a>they had posed no effective
competition <a name="_cp_text_1_679"></a>and they had informed the Bank <a name="_cp_text_1_681"></a>of such at that time<a name="_cp_text_1_684"></a>.</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;">Term of Directorships and Director Age Limit</font></i></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;">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: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 Board
Regulations establish an age limit for sitting on the Bank&#8217;s Board. Directors
must submit their resignation at the first meeting of the Bank&#8217;s Board of
Directors to be held after the general shareholders&#8217; meeting approving the
accounts for the financial 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: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;">Appointment and Re-election of Directors </font></i></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 proposals for
appointment or re-election of directors submitted by the Board of Directors to
the general shareholders&#8217; meeting, as well as the appointments made directly to
fill vacancies under its co-opting powers, will be approved at the proposal of
the Appointments and Corporate Governance Committee for independent directors
and prior report from this Committee for all other directors.</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 proposal must be
accompanied by an explanatory report by the Board of Directors assessing the
skills, experience and merits of the candidate proposed, which will be added to
the minutes of the general shareholders&#8217; meeting or the Board of Directors
meeting.</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;">To such end, the
Appointments and Corporate Governance Committee will evaluate the balance of
knowledge, skills and experience of the Board of Directors, as well as the
conditions that the candidates must meet to cover the vacancies that arise,
assessing the dedication of time considered necessary to adequately carry out
their duties, in view of the needs of the corporate bodies at any given time.</font></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;"><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-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 the following circumstances, reflected in the Board
Regulations, directors must offer their resignation to the Board of Directors
and accept its decision regarding their continuity in office or not. Should the
Board decide against their continuity, they are required to tender their resignation:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:72.0pt;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="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 legislation in
force, in the Bylaws or in the Board Regulations;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:72.0pt;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="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 personal or professional situation that affect the status by virtue of
which they were appointed as directors;</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">168</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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-bottom:10.0pt;margin-left:72.0pt;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="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">in the event of serious breach
of their duties in the performance of their role as directors;</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:72.0pt;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="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 directors in their status as such, serious damage has been done to the
Company&#8217;s equity, standing or reputation; or</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:72.0pt;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="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 no longer
suitable to hold the status 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: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;">Article 17 of the
Board Regulations indicates that the Board of Directors will assess the quality
and effectiveness of the operation of the Board of Directors, as well as will
assess the performance of the duties of the Chairman of the Board, based in
each case on the report submitted by the Appointments and Corporate Governance
Committee (process which will be led by the Lead Director). Likewise, the Board
will carry out the assessment of the operation of its Committees, based on the
reports submit thereby. Furthermore, the Board of Directors will assess the
performance of the Chief Executive Officer, based on the report submitted by
the Appointments and Corporate Governance Committee, which will include the
assessment made by the Executive Committee.</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 18
of the Board Regulations establishes that the Chairman 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 2019, the Board of
Directors evaluated: (i) the quality and efficiency of the operation of the
Board of Directors; (ii) the performance of the duties of the Chairman and the
Chief Executive Officer; and (iii) the operation of the Board Committees.
</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 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-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 Board of
Directors is currently comprised of 15 members.</font></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;">The following table sets forth the names of the members of the Board of
Directors as of the date of this Annual Report, 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:none;border-collapse:collapse;width:100%;">
 <tr>
  <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 5.4pt 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-US 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 5.4pt 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-US 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 5.4pt 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-US style="font-size:8.0pt;">Current Position</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 5.4pt 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-US style="font-size:8.0pt;">Date Nominated</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 5.4pt 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-US style="font-size:8.0pt;">Date<br>
  Re-elected</font></b></font></p>
  </td>
 <td valign=bottom width=31% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;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-US 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=13% style="border:none;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Carlos Torres Vila</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;">(1)(6)</font></font></p>
  </td>
 <td valign=top width=10% style="border:none;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1966</font></font></p>
  </td>
 <td valign=top width=18% style="border:none;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Group Executive Chairman</font></font></p>
  </td>
 <td valign=top width=13% style="border:none;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">May 4, 2015</font></font></p>
  </td>
 <td valign=top width=15% style="border:none;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">March 15, 2019</font></font></p>
  </td>
 <td valign=top width=31% style="border:none;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:2.0pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Chairman of the Board of Directors
  and Group Executive Chairman of BBVA. Chairman of the Executive Committee and
  of the Technology and Cybersecurity Committee. </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES-TRAD style="font-size:8.0pt;">Director of Grupo Financiero
  BBVA Bancomer, S.A. de C.V. and BBVA Bancomer S.A., Instituci&#243;n de Banca
  M&#250;ltiple, Grupo Financiero BBVA Bancomer. </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Chief Executive Officer of
  BBVA from May 2015 to December 2018. 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=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Onur Gen&#231; </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 <td valign=top width=10% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1974</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Chief Executive Officer</font></font></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">December 20, 2018</font></font></p>
  </td>
 <td valign=top width=15% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">March 15, 2019</font></font></p>
  </td>
 <td valign=top width=31% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:2.0pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Chief Executive Officer of
  BBVA. </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES-TRAD style="font-size:8.0pt;">Director of BBVA USA Bancshares, Inc., Grupo Financiero BBVA
  Bancomer, S.A. de C.V. 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" lang=EN-US style="font-size:8.0pt;">President and CEO of BBVA USA and BBVA&#8217;s Country Manager
  in the U.S. from 2017 to December 2018. Deputy CEO at Garanti BBVA between
  2015 and 2017 and Executive Vice President at Garanti BBVA between 2012 and
  2015.</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:6.0pt;">(4)(6)</font></font></p>
  </td>
 <td valign=top width=10% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1951</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">External Director</font></font></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">March 18, 2006</font></font></p>
  </td>
 <td valign=top width=15% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">March 17, 2017</font></font></p>
  </td>
 <td valign=top width=31% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Director
  of Internal Development and Professor of the Finance Department at
  Universidad Francisco de Vitoria. Director of the bachelor&#8217;s degree in Business
  Management and Administration, of the degrees in Marketing and in Business
  Management and Administration at Universidad Francisco de Vitoria from 1998
  to 2012.</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:6.0pt;">(2)(3)(5)(8)</font></font></p>
  </td>
 <td valign=top width=10% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1955</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Deputy Chair; Independent
  Director</font></font></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">March 13, 2015</font></font></p>
  </td>
 <td valign=top width=15% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">March 16, 2018</font></font></p>
  </td>
 <td valign=top width=31% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Deputy
  Chair of the BBVA Board of Directors since April 2019. Chairman of the
  Appointments and Corporate Governance Committee. Director of Zardoya Otis,
  S.A. 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>
<tr>
  <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Jaime F&#233;lix Caruana Lacorte(1)(2)(5)</font></font></p>
  </td>
 <td valign=top width=10% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1952</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Independent Director</font></font></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">March 16, 2018</font></font></p>
  </td>
 <td valign=top width=15% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Not applicable</font></font></p>
  </td>
 <td valign=top width=31% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Chairman
  of the Audit Committee since April 2019. Member of the Group of Thirty (G-30)
  and Trustee of the Spanish Aspen Institute Foundation. General Manager of the
  Bank of International Settlements (BIS) between 2009 and 2017. Between 2006
  and 2009 he was Director of the Monetary and Capital Markets Department and
  Financial Counsellor and General Manager of the International Monetary Fund
  (IMF), between 2003 and 2006 he was Chairman of the Basel Committee on
  Banking Supervision, 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=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Bel&#233;n Garijo L&#243;pez(2)(3)(4)</font></font></p>
  </td>
 <td valign=top width=10% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1960</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Independent Director</font></font></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">March 16, 2012</font></font></p>
  </td>
 <td valign=top width=15% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">March 16, 2018</font></font></p>
  </td>
 <td valign=top width=31% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Chair
  of the Remunerations 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 Senior Executive Committee (ISEC) of PhRMA,
  (Pharmaceutical Research and Manufacturers of America).</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><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 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1958</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Executive Director</font></font></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">May 29, 2013</font></font></p>
  </td>
 <td valign=top width=15% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">March 17, 2017</font></font></p>
  </td>
 <td valign=top width=31% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Executive
  Director of BBVA since May 2013 and Head of Global Economics and Public
  Affairs of BBVA. Chairman for Europe of the Trans-Atlantic Business Council,
  Chairman of the Fundaci&#243;n Consejo Espa&#241;a-Per&#250;, Chairman of European
  DataWarehouse GmbH and Professor at IESE Business School. 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=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Sunir Kumar Kapoor(6)</font></font></p>
  </td>
 <td valign=top width=10% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1963</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Independent Director</font></font></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">March 11, 2016</font></font></p>
  </td>
 <td valign=top width=15% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">March 15, 2019</font></font></p>
  </td>
 <td valign=top width=31% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Operating
  partner at Atlantic Bridge Capital, independent director of Stratio Big Data
  and non-executive director of iQuate Limited and advisor to mCloud. 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.</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><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(1)(4)(5)</font></font></p>
  </td>
 <td valign=top width=10% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1947</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">External Director</font></font></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">February 28, 2004</font></font></p>
  </td>
 <td valign=top width=15% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">March 17, 2017</font></font></p>
  </td>
 <td valign=top width=31% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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: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>
  <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Lourdes M&#225;iz Carro(2)(4)</font></font></p>
  </td>
 <td valign=top width=10% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1959</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Independent Director</font></font></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">March 14, 2014</font></font></p>
  </td>
 <td valign=top width=15% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">March 17, 2017</font></font></p>
  </td>
 <td valign=top width=31% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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: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>
<tr>
  <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Jos&#233; Maldonado Ramos(1)(3)</font></font></p>
  </td>
 <td valign=top width=10% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1952</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">External Director</font></font></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">January 28, 2000</font></font></p>
  </td>
 <td valign=top width=15% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">March 16, 2018</font></font></p>
  </td>
 <td valign=top width=31% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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: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>
  <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Ana Cristina Peralta
  Moreno(2)(4)</font></font></p>
  </td>
 <td valign=top width=10% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1961</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Independent Director</font></font></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">March 16, 2018</font></font></p>
  </td>
 <td valign=top width=15% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Not applicable</font></font></p>
  </td>
 <td valign=top width=31% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Independent
  member of the Board of Directors of Grenergy Renovables, S.A. and of
  Inmobiliaria Colonial, SOCIMI, S.A. She was an independent member of the
  Board of Directors of Deutsche Bank SAE from 2014 to 2018 and Banco
  Etcheverr&#237;a from 2013 to 2014. 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.</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Juan Pi Llorens(3)(5)(6)(7)</font></font></p>
  </td>
 <td valign=top width=10% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1950</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Independent Director</font></font></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">July 27, 2011</font></font></p>
  </td>
 <td valign=top width=15% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">March 16, 2018</font></font></p>
  </td>
 <td valign=top width=31% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Lead
  Director and Chairman of the Risk and Compliance Committee. Chairman of the
  Board of Directors of Ecolumber, S.A. and non-executive director of Oes&#237;a
  Networks, S.L. and of Tecnobit, S.L.U. representing Relocation &amp;
  Execution Services, S.L. Had a professional career at IBM holding various
  senior posts at a national and international level including Vice President
  for Sales at IBM Europe from 2005 to 2008, Vice President of Technology &amp;
  Systems Group at IBM Europe from 2008 to 2010 and Vice President of the
  Finance Services Sector at GMU (Growth Markets Units) in China from 2009 to
  2011. He was executive President of IBM Spain between 1998 and 2001.</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Susana Rodr&#237;guez
  Vidarte(1)(3)(5)</font></font></p>
  </td>
 <td valign=top width=10% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1955</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">External Director</font></font></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">May 28, 2002</font></font></p>
  </td>
 <td valign=top width=15% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">March 17, 2017</font></font></p>
  </td>
 <td valign=top width=31% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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: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>
  <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Jan Paul Marie Francis
  Verplancke(6)</font></font></p>
  </td>
 <td valign=top width=10% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">1963</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Independent Director</font></font></p>
  </td>
 <td valign=top width=13% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">March 16, 2018</font></font></p>
  </td>
 <td valign=top width=15% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Not applicable</font></font></p>
  </td>
 <td valign=top width=31% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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: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 Chief
  several positions in multinational companies, such as Vice President of
  Technology and Information Officer, in the EMEA region of Dell (1999-2004).</font></font></p>
  </td>
 </tr>
<tr>
  <td colspan=6 valign=top width=100% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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;&nbsp; Where no date is provided, the position is
  currently held. </font></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><a name=move5081843201></a><a name="move5081843201_bclEnd"></a><a name="move5081843201_bclEnd_bclEnd"></a><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&nbsp;&nbsp; Member of the
  Executive Committee. </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:9.0pt;">(2)&nbsp;&nbsp; Member of the Audit Committee. </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:9.0pt;">(3)&nbsp;&nbsp; Member of the Appointments and Corporate
  Governance Committee.</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:9.0pt;">(4)&nbsp;&nbsp; Member of the Remunerations Committee.</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:9.0pt;">(5)&nbsp;&nbsp; Member of the Risk and Compliance
  Committee.</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:9.0pt;">(6)&nbsp;&nbsp; Member of the Technology and Cybersecurity
  Committee.</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:9.0pt;">(7)&nbsp;&nbsp; Lead Director.</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> &nbsp;</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:9.0pt;">(8)&#160;&#160; Deputy Chair.<a name="bcl_connect_next"></a><a name="bcl_connect_next_bclEnd"></a></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;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;">The Bank&#8217;s Board of Directors has also submitted to the general
shareholders&#8217; meeting, planned to be held on March 13, 2020, the appointment of
three new directors, for the statutory period of three years:</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;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;">Ra&#250;l Catarino Galamba de Oliveira, with the status of independent
director. His professional trajectory has been tied to McKinsey &amp; Company,
where he was appointed as a Partner in 1995 and Director of the Portuguese
office in 2000. At this firm, he has also held other important positions of
responsibility, including Managing Partner for Spain and Portugal between 2005
and 2011, Managing Partner of Global Risk practice between 2013 and 2016,
member of the Global Shareholders Council from 2005 to 2011, member of the
Partner Election and Evaluation Committees between 2011 and 2007, member of the
Remunerations Committee from 2005 to 2013 and Chairman of the Global Learning
Board from 2006 to 2011.</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;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;">Ana Leonor Revenga Shanklin, with the status of independent
director. She is Senior Fellow at the Brookings Institution and President of
the Board at the ISEAK Foundation since 2018 and Associate Professor at the
Walsh School of Foreign Service at Georgetown University since 2019. She has
undertaken much of her professional experience at the World Bank, having held
several positions of responsibility including Senior Director Global of the
Poverty and Equity Practice between 2014 and 2016 and Deputy Chief Economist in
2016 and 2017.</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;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;">Carlos Vicente Salazar Lomel&#237;n, with the status of external
director. He is the Chairman of the Consejo Coordinador Empresarial de M&#233;xico
(the Mexican Business Coordinating Council) since 2019 and independent director
of Sukarne and Alsea since 2017 and 2019, respectively. </font></font><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:10.0pt;line-height:normal;">He is also a director of Grupo Financiero BBVA Bancomer, S.A. de
C.V. and of BBVA Bancomer, S.A., Instituci&#243;n de Banca M&#250;ltiple, Grupo
Financiero BBVA Bancomer. </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;">He spent a large part of his
career working for Fomento Econ&#243;mico Mexicano S.A.B. de C.V. (Femsa) until
2019, assuming the role of General Manager of Cervecer&#237;a Cuauht&#233;moc-Moctezuma
and General Manager of Femsa between 2014 and 2017. He was Executive Chairman
of Consejo Nuevo Le&#243;n and Chairman of the Comit&#233; de Propuesta Econ&#243;mica
(Committee for Economic Proposal) of COPARMEX.</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 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%;">Each of these proposed
appointments is subject to approval of the general shareholders&#8217; meeting of
BBVA and to verification, by the ECB, considering the regulatory suitability
requirements for the performance of their duties as directors.</font></font><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;"><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;"><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-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;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:10.0pt;line-height:115%;">Our senior managers were each
appointed for an indefinite term. Their positions as of the date of this Annual
Report are as follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;width:100%;">
 <tr>
  <td valign=top width=21% style="border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Name</font></b></font></p>
  </td>
 <td valign=top width=18% style="border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Current Position</font></b></font></p>
  </td>
 <td valign=top width=61% style="border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:6.0pt;text-align:justify;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Present Principal
  Outside Occupation and Employment History(*)</font></b></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=21% style="border:none;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Carlos Torres Vila</font></font></p>
  </td>
 <td valign=top width=18% style="border:none;padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Group Executive Chairman</font></font></p>
  </td>
 <td valign=top width=61% style="border:none;padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:6.0pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Chairman of the
  Board of Directors and Group Executive Chairman of BBVA. Chairman of the
  Executive Committee and of the Technology and Cybersecurity Committee. </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES-TRAD style="font-size:8.0pt;">Director of
  Grupo Financiero BBVA Bancomer, S.A. de C.V. and BBVA Bancomer S.A.,
  Instituci&#243;n de Banca M&#250;ltiple, Grupo Financiero BBVA Bancomer. </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Chief Executive
  Officer of BBVA from May 2015 to December 2018. 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=21% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Onur Gen&#231;</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Chief Executive Officer</font></font></p>
  </td>
 <td valign=top width=61% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:2.0pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Chief Executive Officer of
  BBVA and member of the Executive Committee. </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=ES-TRAD style="font-size:8.0pt;">Director of BBVA USA
  Bancshares, Inc., Grupo Financiero BBVA Bancomer, S.A. de C.V. and BBVA
  Bancomer S.A., Instituci&#243;n de Banca M&#250;ltiple, Grupo Financiero BBVA Bancomer.
  </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">President
  and CEO of BBVA USA and BBVA&#8217;s Country Manager in the U.S. from 2017 to
  December 2018. Deputy CEO at Garanti BBVA between 2015 and 2017 and Executive
  Vice President at Garanti BBVA between 2012 and 2015.</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=21% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;"><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=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Head of Global Economics &amp; Public Affairs</font></font></p>
  </td>
 <td valign=top width=61% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:6.0pt;text-align:justify;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Executive Director
  of BBVA since May 2013 and Head of Global Economics and Public Affairs of
  BBVA. Chairman for Europe of the Trans-Atlantic Business Council, Chairman of
  the Fundaci&#243;n Consejo Espa&#241;a-Per&#250;, Chairman of European DataWarehouse GmbH
  and Professor at IESE Business School. Member of the ECB Governing Council
  and Executive Committee from 2004 to 2012.</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=21% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Domingo Armengol Calvo</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">General Secretary</font></font></p>
  </td>
 <td valign=bottom width=61% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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: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=21% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;"><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=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Head of Legal</font></font></p>
  </td>
 <td valign=bottom width=61% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Head of Legal since December
  2018. 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=21% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Pello Xabier Belausteguigoitia Mateache
  (**)</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Spain Country Manager</font></font></p>
  </td>
 <td valign=bottom width=61% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Spain Country Manager since
  December 2019. </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:8.0pt;">Director
  of BBVA OP3N and of BBVA Seguros, S.A. Seguros y Reaseguros. </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Head of Business Development
  BBVA Spain from 2017 to 2019, Director of BBVA Spain&#8217;s Northern Region from
  2015 to 2017, Director of BBVA Spain&#8217;s Eastern Region from 2014 to 2015,
  Local Director at BBVA Spain&#8217;s Northwestern Region between 2011 and 2014 and
  Director of Commercial Businesses at BBVA Spain&#8217;s Northwestern Region from
  2008 to 2011.</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=21% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Carlos Casas Moreno</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Head of Talent &amp; Culture</font></font></p>
  </td>
 <td valign=bottom width=61% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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: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. Between 2010 and 2015, he worked on Process Re-engineering within
  the Innovation and Technology area. He worked at McKinsey &amp; Company
  between 2000 and 2010, where he was an Associated Partner prior to leaving.</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=21% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Victoria del Castillo Marchese</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Head of Strategy &amp; M&amp;A</font></font></p>
  </td>
 <td valign=bottom width=61% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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: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=21% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Ana Fern&#225;ndez Manrique</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Head of Regulation &amp; Internal Control</font></font></p>
  </td>
 <td valign=bottom width=61% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Head of Regulation &amp;
  Internal Control since July 2019. She has held several relevant positions
  within the BBVA Group such as Director of Non-Financial Risks during 2018,
  Director of Strategy and Finance at BBVA Real Estate Area from 2014 to 2017,
  Director of Strategy and Finance at Global Retail Area from 2011 to 2014, and
  Strategy &amp; M&amp;A Managing Director between 2008 and 2011. </font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=21% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Ricardo Forcano Garc&#237;a</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Head of Engineering &amp; Organization</font></font></p>
  </td>
 <td valign=bottom width=61% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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: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=21% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Mar&#237;a Luisa G&#243;mez Bravo</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Head of Corporate &amp; Investment Banking</font></font></p>
  </td>
 <td valign=bottom width=61% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Head of Corporate &amp;
  Investment Banking 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=21% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Joaqu&#237;n Manuel Gortari D&#237;ez (**) </font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Head of Internal Audit</font></font></p>
  </td>
 <td valign=bottom width=61% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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: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=21% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Ricardo Mart&#237;n Manj&#243;n</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Head of Data</font></font></p>
  </td>
 <td valign=bottom width=61% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Head of Data since April 2019.
  Director of BBVA Data &amp; Analytics. Previously he was Global Head of Data
  Strategy &amp; Data Science Innovation from 2017 to 2019, Head of Digital
  Transformation at BBVA Spain between 2013 and 2016, Marketing Director at
  BBVA Spain from 2011 to 2013. Also, he held the position of Global Head of
  Digital Banking at Nordea between 2016 and 2017.</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=21% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Eduardo Osuna Osuna</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Mexico Country Manager</font></font></p>
  </td>
 <td valign=bottom width=61% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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: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=21% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">David Puente Vicente</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Head of Client Solutions</font></font></p>
  </td>
 <td valign=bottom width=61% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Head of Client Solutions since
  April 2019. Previously, he was Head of Data from 2017 to 2019, Head of
  Business Development Spain from May 2015 to 2017. 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>
<tr>
  <td valign=top width=21% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;"><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=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Chief Financial Officer</font></font></p>
  </td>
 <td valign=bottom width=61% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Head of the Finance Area since
  May 2015 (which in December 2018 incorporated the Accounting Area). Director
  of Garanti BBVA. 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=21% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">Jorge S&#225;enz-Azc&#250;naga Carranza</font></font></p>
  </td>
 <td valign=top width=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Head of Country Monitoring</font></font></p>
  </td>
 <td valign=bottom width=61% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Head of Country Monitoring
  since July 2016. </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:8.0pt;">Director of BBVA Bancomer, S.A., Instituci&#243;n de Banca M&#250;ltiple, Grupo
  Financiero BBVA Bancomer, of Grupo Financiero BBVA Bancomer, S.A. de C.V. and
  of BBVA USA Bancshares, Inc., and Vice President of Garanti BBVA. </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">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=21% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:9.35pt;"><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=18% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Head of Global Risk Management</font></font></p>
  </td>
 <td valign=bottom width=61% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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:8.0pt;">Head of Global Risk Management
  since May 2015 and Director of Garanti BBVA. 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 colspan=3 valign=top width=100% style="padding:0cm 5.4pt 0cm 5.4pt;">
  <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;">(*)&nbsp;&nbsp; Where no date is
  provided, positions are currently held.</font></font></p>
  <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;">(**)Their position as Senior Manager of
  BBVA is pending to register on the Registry of Senior Officers of the Bank of
  Spain.</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;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;">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-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 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-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 Directors&#8217;
Remuneration Policy for 2019, 2020 and 2021 was approved by the general
shareholders&#8217; meeting held on March 15, 2019, by a majority of 94.83%. This
policy is available on our website (www.bbva.com).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">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>


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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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">174</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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: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;">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-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="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-align:justify;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 levels, 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-align:justify;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-align:justify;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;page-break-after:avoid;text-align:justify;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-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><font color=gray face=Symbol style="border:none;"><font color=gray face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=gray 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;">60% of the annual variable remuneration shall be deferred over a
period of five years.</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:-21.25pt;"><font color=gray face=Symbol style="border:none;"><font color=gray face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=gray 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 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-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><font color=gray face=Symbol style="border:none;"><font color=gray face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=gray 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;">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>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><font color=gray face=Symbol style="border:none;"><font color=gray face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=gray 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 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 solvency, capital, liquidity, funding or profitability,
or to share performance and recurring results of the Group, measured over a
period of three years. </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:-21.25pt;"><font color=gray face=Symbol style="border:none;"><font color=gray face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=gray 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 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-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><font color=gray face=Symbol style="border:none;"><font color=gray face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=gray 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;">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-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><font color=gray face=Symbol style="border:none;"><font color=gray face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=gray 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;">Executive directors may not use personal hedging strategies or
insurance in connection with their remuneration and responsibility if such
personal hedging strategies or insurance may undermine their incentives to
align with sound risk management. </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:-21.25pt;"><font color=gray face=Symbol style="border:none;"><font color=gray face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=gray 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 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-bottom:12.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-21.25pt;"><font color=gray face=Symbol style="border:none;"><font color=gray face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=gray 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 entire annual variable remuneration shall be subject to
&#8220;malus&#8221; and &#8220;clawback&#8221; arrangements during the whole deferral and lock-up
period, on the same terms as for the rest of the Identified Staff, as follows:</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;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: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:0cm;margin-bottom:12.0pt;margin-left:49.65pt;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;">a)&#160;&#160; 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:0cm;margin-bottom:12.0pt;margin-left:49.65pt;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;">b)&#160;&#160; regulatory sanctions or judicial
convictions due to events that could be attributed to such executive 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:0cm;margin-bottom:12.0pt;margin-left:49.65pt;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;">c)&#160;&#160; 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:0cm;margin-bottom:.0001pt;margin-left:49.65pt;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;">d)&#160;&#160;
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:12.0pt;margin-left:35.45pt;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: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 the achievement of any
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:12.0pt;margin-left:35.45pt;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:10.0pt;line-height:normal;">Notwithstanding the foregoing, in the event that these scenarios
give rise to termination of contract of the executive director due to serious
and guilty breach of duties, &#8220;malus&#8221; arrangements may apply to the entire
deferred annual variable remuneration pending payment as of the date the
termination decision is taken, in light of the extent of the damage caused.</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:35.45pt;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:10.0pt;line-height:normal;">In any case, the variable remuneration will be paid or vest only
if it is sustainable according to 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>

<p style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;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;line-height:normal;">Additionally, upon vesting of
the shares, executive directors will not be allowed to transfer a number of
shares equivalent in value 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-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 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: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 received by non-executive directors
in 2019</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;">The remuneration paid
to the non-executive members of the Board of Directors during 2019 is indicated
below, individually and itemized for each non-executive director. </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=13% style="height:32.85pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB 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" lang=EN-GB 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" lang=EN-GB 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" lang=EN-GB style="font-size:9.0pt;">Audit
  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" lang=EN-GB style="font-size:9.0pt;">Risk
  and Compliance 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" lang=EN-GB style="font-size:9.0pt;">Remunerations
  Committee</font></b></font></p>
  </td>
 <td width=11% 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" lang=EN-GB style="font-size:9.0pt;">Appointments
  and Corporate Governance 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" lang=EN-GB style="font-size:9.0pt;">Technology
  and Cybersecurity Committee</font></b></font></p>
  </td>
 <td valign=top 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: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" lang=EN-GB style="font-size:9.0pt;">Other
  Functions (1)</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" lang=EN-GB style="font-size:9.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:4.35pt;">
  <td colspan=11 width=100% style="height:4.35pt;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" lang=EN-GB style="font-size:9.0pt;">(Thousands
  of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td nowrap valign=top width=13% style="height:5.65pt;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=EN-GB 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;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">129</font></font></p>
  </td>
 <td colspan=2 nowrap valign=top width=10% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=12% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">43</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=12% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">43</font></font></p>
  </td>
 <td valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=7% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">214</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td nowrap valign=top width=13% style="height:5.65pt;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=EN-GB 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;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">129</font></font></p>
  </td>
 <td colspan=2 nowrap valign=top width=10% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">104</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">107</font></font></p>
  </td>
 <td nowrap valign=top width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">111</font></font></p>
  </td>
 <td valign=top width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=9% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">33</font></font></p>
  </td>
 <td nowrap valign=top width=7% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">483</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td nowrap valign=top width=13% style="height:5.65pt;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=EN-GB style="font-size:9.0pt;">Jaime Caruana Lacorte </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;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">129</font></font></p>
  </td>
 <td colspan=2 nowrap valign=top width=10% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">167</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">110</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">107</font></font></p>
  </td>
 <td nowrap valign=top width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=12% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">14</font></font></p>
  </td>
 <td valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=7% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">527</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td nowrap valign=top width=13% style="height:5.65pt;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=EN-GB 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;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">129</font></font></p>
  </td>
 <td colspan=2 nowrap valign=top width=10% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">68</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=12% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">107</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">45</font></font></p>
  </td>
 <td valign=top width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=7% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">348</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td nowrap valign=top width=13% style="height:5.65pt;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=EN-GB 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;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">129</font></font></p>
  </td>
 <td colspan=2 nowrap valign=top width=10% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=12% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">43</font></font></p>
  </td>
 <td valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=7% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">172</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td nowrap valign=top width=13% style="height:5.65pt;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: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;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">129</font></font></p>
  </td>
 <td colspan=2 nowrap valign=top width=10% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">167</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">107</font></font></p>
  </td>
 <td nowrap valign=top width=12% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">43</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=7% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">445</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td nowrap valign=top width=13% style="height:5.65pt;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=EN-GB 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;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">129</font></font></p>
  </td>
 <td colspan=2 nowrap valign=top width=10% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">68</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=12% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">43</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">14</font></font></p>
  </td>
 <td valign=top width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=7% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">253</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td nowrap valign=top width=13% style="height:5.65pt;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=EN-GB 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;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">129</font></font></p>
  </td>
 <td colspan=2 nowrap valign=top width=10% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">167</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">45</font></font></p>
  </td>
 <td valign=top width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=7% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">340</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td nowrap valign=top width=13% style="height:5.65pt;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=EN-GB style="font-size:9.0pt;">Ana Peralta Moreno</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;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">129</font></font></p>
  </td>
 <td colspan=2 nowrap valign=top width=10% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">68</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=12% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">43</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=7% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">240</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td nowrap valign=top width=13% style="height:5.65pt;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=EN-GB 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;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">129</font></font></p>
  </td>
 <td colspan=2 nowrap valign=top width=10% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">24</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">214</font></font></p>
  </td>
 <td nowrap valign=top width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">31</font></font></p>
  </td>
 <td valign=top width=12% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">43</font></font></p>
  </td>
 <td valign=top width=9% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">53</font></font></p>
  </td>
 <td nowrap valign=top width=7% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">493</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td nowrap valign=top width=13% style="height:5.65pt;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=EN-GB 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;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">129</font></font></p>
  </td>
 <td colspan=2 nowrap valign=top width=10% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">167</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">107</font></font></p>
  </td>
 <td nowrap valign=top width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">45</font></font></p>
  </td>
 <td valign=top width=12% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=9% style="height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=7% style="height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">447</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td nowrap valign=top width=13% style="border:none;border-bottom:solid windowtext 1.0pt;height:5.65pt;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=EN-GB style="font-size:9.0pt;">Jan Verplancke</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border:none;border-bottom: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;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">129</font></font></p>
  </td>
 <td colspan=2 nowrap valign=top width=10% style="border:none;border-bottom:solid windowtext 1.0pt;height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="border:none;border-bottom:solid windowtext 1.0pt;height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="border:none;border-bottom:solid windowtext 1.0pt;height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=12% style="border:none;border-bottom:solid windowtext 1.0pt;height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="border:none;border-bottom:solid windowtext 1.0pt;height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=12% style="border:none;border-bottom: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;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">43</font></font></p>
  </td>
 <td valign=top width=9% style="border:none;border-bottom:solid windowtext 1.0pt;height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p align=right style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=top width=7% style="border:none;border-bottom: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;page-break-after:avoid;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">172</font></font></p>
  </td>
 </tr>
<tr style="height:5.65pt;">
  <td nowrap valign=bottom width=13% style="border:none;height:5.65pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-right:0pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">Total </font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">(2)</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% style="border:none;height:5.65pt;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" lang=EN-GB style="font-size:9.0pt;">1,545</font></font></p>
  </td>
 <td colspan=2 nowrap valign=top width=10% style="border:none;height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">667</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="border:none;height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">442</font></font></p>
  </td>
 <td nowrap valign=top width=9% style="border:none;height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">642</font></font></p>
  </td>
 <td nowrap valign=top width=12% style="border:none;height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">278</font></font></p>
  </td>
 <td nowrap valign=top width=11% style="border:none;height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">289</font></font></p>
  </td>
 <td valign=top width=12% style="border:none;height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">186</font></font></p>
  </td>
 <td valign=top width=9% style="border:none;height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">87</font></font></p>
  </td>
 <td nowrap valign=top width=7% style="border:none;height:5.65pt;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" lang=EN-GB style="font-size:10.0pt;">4,134</font></font></p>
  </td>
 </tr>
<tr height=0>
  <td width=13% 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=11% style="border:none;">&nbsp;</td>
 <td width=12% style="border:none;">&nbsp;</td>
 <td width=9% style="border:none;">&nbsp;</td>
 <td width=7% style="border:none;">&nbsp;</td>
 </tr>
</table>


</div>


<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:14.2pt;margin-right:0pt;margin-top:6.0pt;page-break-after:avoid;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160;&#160; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">Includes amounts received during
the 2019 financial year by Jos&#233; Miguel Andr&#233;s Torrecillas, in his capacity as
Deputy Chair of the Board of Directors, and by Juan Pi Llorens, in his capacity
as Lead Director, positions for which they were appointed by resolution of the
Board of Directors on April 29, 2019. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:14.2pt;margin-right:0pt;margin-top:0cm;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">(2)&#160;&#160; Includes remuneration paid for
membership on the Board and its various committees during the 2019 financial
year. By resolution of the Board of Directors on April 29, 2019, the functions
of some Board committees were redistributed, and their associated remunerations
were adapted to these changes in some cases.</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">176</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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: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 the
2019 financial year, &#8364;104 thousand was paid out in casualty and healthcare
insurance premiums for non-executive members of the Board of Directors.</font></font></p>

<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 received by executive directors in
2019</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom: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 the 2019
financial year, the executive directors received the amount of the annual fixed
remuneration corresponding to such financial year, established for each
director in the Directors&#8217; Remuneration Policy, which was approved by the
general shareholders&#8217; meeting held on March 15, 2019.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">In addition, the
executive directors received their annual variable remuneration for the 2018
financial year, which, in accordance with the settlement and payment system set
out in the remuneration policy applicable to such year, was due to be paid to
them during the 2019 financial year.</font></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;">In application of this 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-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="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 2018 annual variable remuneration for executive
directors was paid in the 2019 financial year (the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">upfront portion</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#8221;),
in equal parts in cash and in shares. </font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:54.0pt;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: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 was deferred
(40% in cash and 60% in shares) for a period of five years, and its accrual and
payment will be subject to compliance with a series of multi-year indicators
(the &#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">deferred portion</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#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, in cash and in BBVA shares, according to
the following payment schedule: 60% in 2022, 20% in 2023 and the remaining 20%
in 2024.</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:54.0pt;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: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 as part of the upfront portion and the
deferred portion, will be withheld for a one year lock-up period 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-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="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 payable
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-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="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 responsibility if such
personal hedging strategies or insurance may undermine their incentives to
align with sound risk management. </font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:54.0pt;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: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 2018 is limited to a maximum amount of 200% of the fixed
component of the total remuneration, as agreed by the general shareholders&#8217;
meeting held during such financial year.</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:54.0pt;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: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 &#8220;malus&#8221;
and &#8220;clawback&#8221; arrangements.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">Additionally, upon
receipt of the shares, executive directors will not be allowed to transfer a
number of shares equivalent in value</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;">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-align:justify;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Moreover, during the
2019 financial year, in accordance with the Directors&#8217; Remuneration Policy for
2015 and in application of the settlement and payment system of the annual
variable remuneration for such financial year, the Group Executive Chairman and
the Head of Global Economics &amp; Public Affairs (&#8220;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Head of GE&amp;PA</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;)
received the deferred portion of the annual variable remuneration for the 2015
financial year (50% of the annual variable remuneration), the vesting of which
was due during the 2019 financial year after being adjusted downwards following
the result of the TSR indicator. This remuneration was paid in equal parts in
cash and in shares, together with the corresponding update in cash, thus concluding
payment of the annual variable remuneration to the executive directors for the
2015 financial year.</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">177</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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: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 above, remunerations paid to executive directors
during 2019 are indicated below, individually and itemized:</font></font></p>

<div align=center>

<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;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">Annual
  Fixed Remuneration for 2019 (Thousands of Euros)</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;page-break-after:avoid;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">Group
  Executive Chairman </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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">2,453</font></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;page-break-after:avoid;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">Chief
  Executive Officer</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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">2,179</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;page-break-after:avoid;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">Head of GE&amp;PA</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;page-break-after:avoid;text-align:right;text-indent:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB 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:17.85pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-GB 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:17.85pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">5,466</font></b></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;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 addition, in
accordance with the current Directors&#8217; Remuneration Policy, during the 2019
financial year, the Chief Executive Officer (</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Consejero Delegado</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">)
received a corresponding amount of fixed remuneration in cash in lieu of
pension (see &#8220;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8212;Pension Commitments</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;), and for his mobility allowance.
The Bank paid the Chief Executive Officer &#8364;654 thousand and &#8364;506 thousand, respectively,
during the 2019 financial year.</font></font></p>

<div align=center>

<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" lang=EN-GB style="font-size:9.0pt;">Annual Variable Remuneration
  for 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.95pt;">
  <td width=59% 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="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=28% 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" lang=EN-GB style="font-size:9.0pt;">In cash (1)</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:11.0pt;"> &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">(Thousands of Euros)</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: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=EN-GB style="font-size:9.0pt;">In shares
  (1)</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:11.0pt;">&#160; &nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.55pt;">
  <td valign=bottom width=59% style="background:white;border:none;border-bottom:solid black 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;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">Group Executive Chairman </font></font></p>
  </td>
 <td nowrap width=27% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=EN-GB style="font-size:9.0pt;">479</font></font></p>
  </td>
 <td colspan=2 nowrap width=14% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=EN-GB style="font-size:9.0pt;">100,436</font></font></p>
  </td>
 </tr>
<tr style="height:12.55pt;">
  <td valign=bottom width=59% style="background:white;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;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">Chief Executive Officer (2) </font></font></p>
  </td>
 <td nowrap width=27% style="background:white;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=EN-GB style="font-size:9.0pt;">200</font></font></p>
  </td>
 <td colspan=2 nowrap width=14% style="background:white;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid white 1.0pt;border-top:none;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=EN-GB style="font-size:9.0pt;">41,267</font></font></p>
  </td>
 </tr>
<tr style="height:16.2pt;">
  <td width=59% 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" style="font-size:9.0pt;">Head of GE&amp;PA</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=EN-GB style="font-size:9.0pt;">79</font></font></p>
  </td>
 <td colspan=2 nowrap width=14% 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=EN-GB style="font-size:9.0pt;">16,641</font></font></p>
  </td>
 </tr>
<tr style="height:14.1pt;">
  <td nowrap width=59% 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=EN-GB 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=EN-GB style="font-size:9.0pt;">758</font></b></font></p>
  </td>
 <td colspan=2 nowrap width=14% 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=EN-GB style="font-size:9.0pt;">158,344</font></b></font></p>
  </td>
 </tr>
<tr height=0>
  <td width=59% style="border:none;">&nbsp;</td>
 <td width=27% style="border:none;">&nbsp;</td>
 <td width=1% 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:1.0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-14.15pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160;&#160; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">Represents remunerations corresponding to
the upfront portion (40%) of the annual variable remuneration for the 2018
financial year (paid 50% in cash and 50% in BBVA shares). For the Group
Executive Chairman and Chief Executive Officer, these variable remunerations
are linked in their entirety to their previous positions as Chief Executive
Officer of BBVA and President &amp; CEO of BBVA&nbsp;USA, respectively.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:28.4pt;margin-right:0cm;margin-top:0cm;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">(2)&#160;&#160; Remuneration received in U.S.
dollars. Data in thousands of Euros is for information purposes. </font></font></p>

<div align=center>

<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" lang=EN-GB style="font-size:9.0pt;">Deferred Annual Variable
  Remuneration for 2015</font></b></font></p>
  </td>
 </tr>
<tr style="height:29.05pt;">
  <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:29.05pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB 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:29.05pt;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" lang=EN-GB style="font-size:9.0pt;">In cash (1)
  (Thousands of Euros)</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:29.05pt;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=EN-GB style="font-size:9.0pt;">In shares
  (1)</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB 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=EN-GB style="font-size:9.0pt;">Group Executive Chairman</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=EN-GB style="font-size:9.0pt;">612</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=EN-GB style="font-size:9.0pt;">79,157</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" style="font-size:9.0pt;">Head of GE&amp;PA</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=EN-GB style="font-size:9.0pt;">113</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=EN-GB style="font-size:9.0pt;">14,667</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=EN-GB style="font-size:9.0pt;">Total</font></b></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB 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=EN-GB style="font-size:9.0pt;">725</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=EN-GB style="font-size:9.0pt;">93,824</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:12.0pt;margin-left:28.4pt;margin-right:0cm;margin-top:0cm;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160;&#160; </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">Represents remunerations corresponding to
deferred portion of the annual variable remuneration for the 2015 financial
year (50% of the annual variable remuneration for 2015 in equal parts in cash
and shares), payment of which was due during the 2019 financial year, together
with its corresponding update in cash, and after its downward adjustment
following the result of the TSR indicator. For the Group Executive Chairman,
this variable remuneration relates to his previous position as Chief Executive
Officer of BBVA.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">In addition, the
executive directors received remuneration in kind during the 2019 financial
year, including insurance premiums and others, amounting to a total of &#8364;411
thousand, of which &#8364;184 thousand was paid to the Group Executive Chairman, &#8364;144
thousand was paid to the Chief Executive Officer and &#8364;83 thousand was paid to
the Head of GE&amp;PA.</font></font></p>

<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 received by Senior Management in
2019</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom: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 the 2019
financial year, the members of Senior Management, excluding executive
directors, received the amount of the annual fixed remuneration corresponding
to such financial year.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">In addition, they
received the annual variable remuneration for the 2018 financial year, which,
in accordance with the settlement and payment system set out in the
remuneration policy applicable for such financial year, was due to be paid to
them during the 2019 financial year. </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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">178</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_184"></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;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 this settlement and payment system, the same rules as
set out above for executive directors are applicable. These include, among
others, that the upfront portion (40% of the annual variable remuneration) will
be paid in the financial year following the year to which it corresponds, in
equal parts in cash and in shares, and the deferred portion (60% of the annual
variable remuneration) will be deferred (40% in cash and 60% in shares) over a
five-year period, with its accrual and payment being subject to compliance with
a series of multi-year indicators, applying the same payment schedule
established for executive directors. Any shares received, including both as
part of the upfront portion and the deferred portion, will be withheld for a
one year lock-up period after delivery, except for shares transferred to honor
the payment of taxes accruing on the shares received. Likewise, members of
Senior Management may not use personal hedging strategies or insurance in connection
with their remuneration and responsibility if such personal hedging strategies
or insurance may undermine their incentives to align with sound risk management.
The variable component of the remuneration for Senior Management corresponding
to the 2018 financial year will be limited to a maximum amount of 200% of the
fixed component of the total remuneration. Over the entire deferral and
withholding period, the annual variable remuneration will be subject to &#8220;malus&#8221;
and &#8220;clawback&#8221; arrangements.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">Moreover, during the
2019 financial year, in accordance with the remuneration policy applicable to
Senior Management in 2015 and in application of the settlement and payment
system of the annual variable remuneration for such financial year, the members
of Senior Management who were beneficiaries of such remuneration received the
deferred portion of the annual variable remuneration for the 2015 financial
year, after being adjusted downwards following the result of the TSR indicator.
This remuneration was paid in equal parts in cash and in shares, along with the
corresponding update in cash, concluding the payment of this remuneration to
the members of Senior Management for the 2015 financial year.</font></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;">In accordance with the above, the remuneration paid during the 2019
financial year to members of the Senior Management as a whole, who held that
position as of December 31, 2019 (15 members), excluding executive directors,
is indicated and itemized below:</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" lang=EN-US style="font-size:9.0pt;">Annual fixed Remuneration
  for 2019 (Thousands of Euros) </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=EN-US style="font-size:9.0pt;">Senior Management
  Total</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=EN-US style="font-size:9.0pt;">13,883</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;">&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" lang=EN-US style="font-size:9.0pt;">Annual variable Remuneration
  for 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="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">In cash
  (thousands of euro) (1)</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" style="font-size:9.0pt;">In shares (1)</font></font><font style="border:none;"><font face="Times New Roman,serif" 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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US 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" style="font-size:9.0pt;">887</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" style="font-size:9.0pt;">185,888</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:42.55pt;margin-right:28.65pt;margin-top:6.0pt;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160;&#160; Represents remunerations
corresponding to the upfront portion (40%) of the annual variable remuneration
for the 2018 financial year (paid 50% in cash and 50% in BBVA shares). For
those members of Senior Management who were appointed by the Board of Directors
on December 20, 2018 and April 29, July 30 and December 19, 2019, this
remuneration relates to their previous positions.</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" lang=EN-US style="font-size:9.0pt;">Deferred variable remuneration
  for 2015</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="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">In cash</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;"> &nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(thousands of euro) (1)</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" style="font-size:9.0pt;">In shares (1)</font></font><font style="border:none;"><font face="Times New Roman,serif" 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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Senior Management
  Total</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" style="font-size:9.0pt;">1,263</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" style="font-size:9.0pt;">163,215</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:42.55pt;margin-right:28.65pt;margin-top:6.0pt;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">(1)&#160;&#160; Represents remunerations
corresponding to the deferred portion of annual variable remuneration for the
2015 financial year (50% of the annual variable remuneration for 2015 in equal
parts in cash and in shares), payment of which was due during the 2019
financial year, together with its corresponding update in cash, and after its
downward adjustment following the result of the TSR indicator. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">In addition, all of
the members of Senior Management, excluding executive directors, received
remuneration in kind during the 2019 financial year, including insurance
premiums and others, amounting to a total of &#8364;769 thousand.</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">179</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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: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;">Remuneration to be received by executive directors in 2020
and subsequent financial years</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Annual variable
remuneration for executive directors for 2019 </font></i></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;">Following the end of the 2019 financial year, the annual variable
remuneration for executive directors corresponding to such financial year was
determined, applying the conditions set out in the Directors&#8217; Remuneration
Policy, which was approved by the general shareholders&#8217; meeting on March 15,
2019. As in the previous financial year, the following settlement and payment
system applies to this remuneration: </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-GB style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-GB 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-GB style="font-size:10.0pt;line-height:normal;">The upfront portion (40% of the annual variable remuneration for
the 2019 financial year) will be paid, provided that the conditions are met,
during the first quarter of the 2020 financial year, in equal parts in cash and
in shares, which amounts to &#8364;636 thousand and 126,470 BBVA shares in the case
of the Group Executive Chairman; &#8364;571 thousand and 113,492 BBVA shares in the
case of the Chief Executive Officer and &#8364;75 thousand and 14,998 BBVA shares in
the case of the Head of GE&amp;PA.</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-GB style="font-size:10.0pt;line-height:normal;">&#183;</font><font face="Times New Roman" lang=EN-GB 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-GB style="font-size:10.0pt;line-height:normal;">The deferred portion (60% of the annual variable remuneration for
the 2019 financial year) will be deferred (40% in cash and 60% in shares) over
a five-year period, subject to compliance with the multi-year performance
indicators determined by the Board of Directors at the start of the 2019
financial year, which may lead to a reduction of the deferred portion, even in
its entirety, but in no event may such amount be increased. These multi-year
performance indicators will be calculated over the first three years of
deferral and, provided that the relevant conditions have been met, the
resulting amount will then be paid, in cash and in BBVA shares, according to
the following payment 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 set out
in the Directors&#8217; Remuneration Policy, which includes, among other terms and
conditions, &#8220;malus&#8221; and &#8220;clawback&#8221; arrangements and retention periods for the shares.
</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Deferred annual variable
remuneration for executive directors for 2016</font></i></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">Following the end of
the 2019 financial year, the deferred portion of the annual variable
remuneration of executive directors for the 2016 financial year (50%) was
determined, with delivery, if conditions are met, during the 2020 financial
year, subject to the conditions established for this purpose in the applicable
remuneration policy. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">Thus, based on the
result of each of the multi-year performance indicators set by the Board of
Directors in 2016 to calculate the deferred portion of this remuneration, and
in application of the relevant scales of achievement and their corresponding
targets and weightings, the final amount of the deferred portion of the annual
variable remuneration for the 2016 financial year was determined, with the
corresponding downward adjustment following the result of the TSR indicator. As
a result, such remuneration, including the corresponding updates, was
determined in an amount of &#8364;656 thousand and 89,158 BBVA shares in the case of
the Group Executive Chairman; &#8364;204 thousand and 31,086 BBVA shares in the case
of the Chief Executive Officer; and &#8364;98 thousand and 13,355 BBVA shares in the
case of the Head of GE&amp;PA. Once these amounts are paid, there will be no
more outstanding payments due to the executive directors in respect of annual
variable remuneration for the 2016 financial year.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">In addition, as of the
end of the 2019 financial year, in addition to the abovementioned deferred
portion of the annual variable remuneration of the executive directors for the
2019 financial year and in accordance with the conditions established in the
remuneration policies applicable in previous years, 60% of the annual variable
remuneration corresponding to the 2017 and 2018 financial years remains
deferred and is pending payment to the executive directors, and will be
received in future years if the applicable conditions are met.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;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;">Remuneration to
be received by Senior Management in 2020 and subsequent financial years</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Annual variable
remuneration for Senior Management for 2019</font></i></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">Following the end of
the 2019 financial year, the annual variable remuneration of Senior Management
(15 members as of December 31, 2019, excluding executive directors)
corresponding to such financial year was determined. The annual variable
remuneration for all members of Senior Management, excluding executive
directors, was determined to be a combined total amount of &#8364;6,363 thousand.</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">180</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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: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 upfront portion of the annual variable remuneration for
the 2019 financial year for each member of Senior Management will be paid in
the first quarter of 2020, in accordance with the settlement and payment system
applicable in each case and in accordance with the provisions of the BBVA
Group&#8217;s Remuneration Policy, if the applicable conditions are met, in an amount
equal to &#8364;1,291 thousand and 257,907 BBVA shares. The remaining amount will be
deferred and subject to the remaining conditions of the settlement and payment
system applicable in each case and in accordance with the provisions of the
BBVA Group&#8217;s Remuneration Policy.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font style="border:none;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Deferred annual variable
remuneration of Senior Management for financial year 2016</font></i></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">Following the end of
the 2019 financial year, the deferred portion of the annual variable remuneration
of Senior Management (15 members as of December 31, 2019, excluding executive
directors) for the 2016 financial year was determined, with delivery, if
conditions are met, taking place during the 2020 financial year, subject to the
conditions established for this purpose in the applicable remuneration policy. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">Thus, based on the
result of each of the multi-year performance indicators set by the Board of
Directors in 2016 to calculate the deferred portion of this remuneration, and
in application of the relevant scales of achievement and their corresponding
targets and weightings, the final amount of the deferred portion of the annual
variable remuneration for members of Senior Management for the 2016 financial
year was determined, </font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">with the
corresponding downward adjustment following the result of the TSR indicator</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">. The combined total amount for the Senior
Management, excluding executive directors, was determined to be &#8364;1,277 thousand
and 196,899 BBVA shares, including the corresponding updates. With these
amounts paid, there will be no more outstanding payments due to Senior
Management in respect of the annual variable remuneration for the 2016
financial year.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">In addition, as of the
end of the 2019 financial year, in addition to the abovementioned deferred
portion of the annual variable remuneration for the 2019 financial year and in
accordance with the conditions established in the remuneration policies
applicable in previous years, 60% of the annual variable remuneration
corresponding to the 2017 and 2018 financial years remains deferred and is
pending payment to the members of Senior Management and will be received in
future years if the applicable conditions are met.</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-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 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-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 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-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 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>


<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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">181</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_187"></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;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 number of &#8220;theoretical shares&#8221; allocated
during the 2019 financial year to each non-executive director beneficiary of
the remuneration system in &#8220;theoretical shares&#8221; with deferred delivery,
corresponding to 20% of the total remuneration received in cash by such
directors during the 2018 financial year, 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=33% style="height:30.3pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=34% 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" lang=EN-GB style="font-size:9.0pt;">Theoretical
  shares allocated in 2019</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" lang=EN-GB style="font-size:9.0pt;">Theoretical
  shares accumulated as of December 31, 2019</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=33% 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=EN-GB style="font-size:10.0pt;">Tom&#225;s Alfaro Drake</font></font></p>
  </td>
 <td nowrap valign=top width=34% 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" lang=EN-GB style="font-size:10.0pt;">10,138</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" lang=EN-GB style="font-size:10.0pt;">93,587</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=33% 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=EN-GB style="font-size:10.0pt;">Jos&#233; Miguel Andr&#233;s Torrecillas</font></font></p>
  </td>
 <td nowrap valign=top width=34% 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" lang=EN-GB style="font-size:10.0pt;">19,095</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" lang=EN-GB style="font-size:10.0pt;">55,660</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=33% 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=EN-GB style="font-size:10.0pt;">Jaime Caruana Lacorte</font></font></p>
  </td>
 <td nowrap valign=top width=34% 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" lang=EN-GB style="font-size:10.0pt;">9,320</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" lang=EN-GB style="font-size:10.0pt;">9,320</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=33% 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=EN-GB style="font-size:10.0pt;">Bel&#233;n Garijo L&#243;pez</font></font></p>
  </td>
 <td nowrap valign=top width=34% 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" lang=EN-GB style="font-size:10.0pt;">12,887</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" lang=EN-GB style="font-size:10.0pt;">47,528</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=33% 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=EN-GB style="font-size:10.0pt;">Sunir Kumar Kapoor</font></font></p>
  </td>
 <td nowrap valign=top width=34% 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" lang=EN-GB style="font-size:10.0pt;">6,750</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" lang=EN-GB style="font-size:10.0pt;">15,726</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=33% 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;">Carlos Loring Mart&#237;nez de Irujo</font></font></p>
  </td>
 <td nowrap valign=top width=34% 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" lang=EN-GB style="font-size:10.0pt;">17,515</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" lang=EN-GB style="font-size:10.0pt;">116,391</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=33% 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=EN-GB style="font-size:10.0pt;">Lourdes M&#225;iz Carro</font></font></p>
  </td>
 <td nowrap valign=top width=34% 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" lang=EN-GB style="font-size:10.0pt;">11,160</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" lang=EN-GB style="font-size:10.0pt;">34,320</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=33% 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=EN-GB style="font-size:10.0pt;">Jos&#233; Maldonado Ramos</font></font></p>
  </td>
 <td nowrap valign=top width=34% 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" lang=EN-GB style="font-size:10.0pt;">15,328</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" lang=EN-GB style="font-size:10.0pt;">94,323</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=33% 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=EN-GB style="font-size:10.0pt;">Ana Peralta Moreno</font></font></p>
  </td>
 <td nowrap valign=top width=34% 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" lang=EN-GB style="font-size:10.0pt;">5,624</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" lang=EN-GB style="font-size:10.0pt;">5,624</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=33% 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=EN-GB style="font-size:10.0pt;">Juan Pi Llorens</font></font></p>
  </td>
 <td nowrap valign=top width=34% 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" lang=EN-GB style="font-size:10.0pt;">17,970</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" lang=EN-GB style="font-size:10.0pt;">72,141</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=33% 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=EN-GB style="font-size:10.0pt;">Susana Rodr&#237;guez Vidarte</font></font></p>
  </td>
 <td nowrap valign=top width=34% 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" lang=EN-GB style="font-size:10.0pt;">17,431</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" lang=EN-GB style="font-size:10.0pt;">122,414</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=top width=33% style="border:none;border-bottom:solid windowtext 1.0pt;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=EN-GB style="font-size:10.0pt;">Jan Verplancke</font></font></p>
  </td>
 <td nowrap valign=top width=34% style="border:none;border-bottom:solid windowtext 1.0pt;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" lang=EN-GB style="font-size:10.0pt;">5,203</font></font></p>
  </td>
 <td nowrap valign=top width=33% style="border:none;border-bottom:solid windowtext 1.0pt;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" lang=EN-GB style="font-size:10.0pt;">5,203</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=top width=33% style="border:none;height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap valign=top width=34% style="border:none;height:12.75pt;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;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">148,421</font></b></font></p>
  </td>
 <td nowrap valign=top width=33% style="border:none;height:12.75pt;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;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">672,237</font></b></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;page-break-after:avoid;"><font style="border:none;"><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Pension commitments with directors and Senior
Management</font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom: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 Bank does not have
pension commitments with non-executive directors.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">With regard to the
Group Executive Chairman, the Directors&#8217; Remuneration Policy establishes a
pension framework whereby he is eligible, provided that he does not leave his
position as a result of a serious breach of duties, to receive a retirement
pension, paid as a lump sum or in installments, when he reaches the legally
established retirement age. The amount of this pension will be determined by
the annual contributions made by the Bank, together with their corresponding
accumulated yields as of that date.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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 annual
contribution to cover the retirement contingency for the Group Executive
Chairman&#8217;s defined-contribution system, as established in the Directors&#8217;
Remuneration Policy, was determined as a result of the conversion of his
previous defined-benefit rights into a defined-contribution system, in the
annual amount of &#8364;1,642 thousand. The Board of Directors may update this amount
during the term of the Directors&#8217; Remuneration Policy, in the same way and
under the same terms as it may update the annual fixed remuneration.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">15% of the
aforementioned agreed annual contribution will be based on variable components
and considered &#8220;discretionary pension benefits&#8221;, and 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 Directors&#8217;
Remuneration Policy.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">In the event the Group
Executive Chairman&#8217;s contract terminates before reaching retirement age for
reasons other than serious breach of duties, the retirement pension due to the
Group Executive Chairman upon reaching the legally established retirement age
will be calculated based on the funds accumulated through the 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 in any event from the time of termination.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">With respect to the
commitments to cover the contingencies for death and disability benefits for
the Group Executive Chairman, the Bank will undertake the payment of the
corresponding annual insurance premiums in order to top up the coverage of
these contingencies.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">In line with the
above, during the 2019 financial year, &#8364;1,919 thousand was recorded to meet the
pension commitments for the Group Executive Chairman. This amount includes the
contribution to the retirement contingency (&#8364;1,642 thousand) and the payment of
premiums for the death and disability contingencies (&#8364;278 thousand), as well as
the negative adjustment of &#8364;1 thousand for &#8220;discretionary pension benefits&#8221; for
the 2018 financial year, which were declared at the end of the 2018 financial
year and had to be registered in the accumulated fund in the 2019 financial
year. </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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">182</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_188"></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;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, 2019, the total accumulated amount of
the fund to meet the retirement commitments for the Group Executive Chairman
amounted to &#8364;21,582 thousand.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">With regard to the
agreed annual contribution to the retirement contingency corresponding to the
2019 financial year, 15% (&#8364;246 thousand) was registered in that financial year
as &#8220;discretionary pension benefits&#8221;. Following the end of the 2019 financial
year, this amount was adjusted according to the criteria established to
determine the Group Executive Chairman&#8217;s annual variable remuneration for the
2019 financial year. Accordingly, the &#8220;discretionary pension benefits&#8221; for the
2019 financial year were determined in an amount of &#8364;261 thousand, which will
be included in the accumulated fund for the 2020 financial year, subject to the
same conditions as the deferred portion of the annual variable remuneration for
the 2019 financial year, as well as to 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-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 regard to the
Chief Executive Officer, in accordance with the provisions of the current
Directors&#8217; Remuneration Policy and his contract, the Bank is not required to
make any contributions to a retirement pension, although he is entitled to an
annual cash sum instead of a retirement pension equal to 30% of his annual
fixed remuneration. However, the Bank does have pension commitments to cover
the death and disability contingencies, for which purpose the corresponding
annual insurance premiums will be paid. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">In accordance with the
above, in the 2019 financial year the Bank paid the Chief Executive Officer the
amount of fixed remuneration as cash in lieu of pension set out under &#8220;&#8212;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Remuneration
received by executive directors in 2019</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8221;. Furthermore, &#8364;141 thousand was
recorded for the payment of the annual insurance premiums to cover the death
and disability contingencies.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">For the Head of
GE&amp;PA, the pension system provided for in the Directors&#8217; Remuneration
Policy establishes an annual contribution of 30% of the Head of GE&amp;PA&#8217;s
annual fixed remuneration to cover the retirement contingency. 15% of the
aforementioned agreed annual contribution 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 Directors&#8217;
Remuneration Policy.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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 Head of GE&amp;PA,
upon reaching retirement age, will be entitled to receive, as a lump sum or in
installments, the benefits arising from contributions made by the Bank to cover
pension commitments, plus the corresponding yield accumulated up to that date,
provided the Head of GE&amp;PA does not leave said position due to serious
breach of duties. In the event of voluntary termination of the 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, together with the
corresponding accumulated yield, with no additional contributions to be made by
the Bank in any event upon termination of the contractual relationship. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">With respect to the
commitments to cover the contingencies for death and disability benefits for
the Head of GE&amp;PA, the Bank will undertake the payment of the corresponding
annual insurance premiums in order to top up the coverage of these
contingencies.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">In line with the
above, during the 2019 financial year, &#8364;404 thousand was recorded to meet the
pension commitments for the Head of GE&amp;PA. This amount includes the
contribution to the retirement contingency (&#8364;250 thousand) and the payment of
premiums to cover the death and disability contingencies (&#8364;150 thousand), as
well as &#8364;4 thousand corresponding to the adjustment made to the amount of
&#8220;discretionary pension benefits&#8221; for the 2018 financial year, as declared at
the end of the 2018 financial year and which had to be registered in the
accumulated fund in the 2019 financial year. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">As of December 31,
2019, the total accumulated amount of the fund to meet the retirement
commitments for the Head of GE&amp;PA amounted to &#8364; 1,404 thousand.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">With regard to the
annual contribution agreed for the retirement contingency, 15% (&#8364;38 thousand)
was registered in the 2019 financial year as &#8220;discretionary pension benefits&#8221;.
Following the end of the 2019 financial year, this amount was adjusted
according to the criteria established to determine the Head of GE&amp;PA&#8217;s
annual variable remuneration for the 2019 financial year. Accordingly, the
&#8220;discretionary pension benefits&#8221; for the 2019 financial year were determined in
an amount of &#8364;40 thousand, which will be included in the accumulated fund for
the 2020 financial year, subject to the same conditions as the deferred portion
of the annual variable remuneration for the 2019 financial year, as well as the
remaining conditions established for these benefits in the Directors&#8217;
Remuneration Policy. </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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">183</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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: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;">In addition, during the 2019 financial year, &#8364;3,281
thousand was recorded to meet the pension commitments for members of the Senior
Management (15 members holding that position as of December 31, 2019, excluding
executive directors). This amount includes both the contribution to the
retirement contingency (&#8364;2,656 thousand) and the payment of premiums to cover
the death and disability contingencies (&#8364;627 thousand), as well as the negative
adjustment of &#8364;2 thousand for &#8220;discretionary pension benefits&#8221; for the 2018
financial year, as declared at the end of the 2018 financial year, and which
had to be registered in the accumulated fund in the 2019 financial year.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">At December 31, 2019,
the total accumulated amount of the fund to meet the retirement commitments for
members of the Senior Management amounted to &#8364;20,287 thousand. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">15% of the agreed
annual contributions for members of the Senior Management to cover retirement
contingencies will be based on variable components and considered
&#8220;discretionary pension benefits&#8221;, and 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 the Senior Management.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">Accordingly, with
regard to the agreed annual contribution for the retirement contingency
registered in the 2019 financial year, an amount of &#8364;389 thousand was
registered as &#8220;discretionary pension benefits&#8221; during the 2019 financial year
and, following the end of the 2019 financial year, this amount was adjusted
according to the same criteria established to determine the Senior Management&#8217;s
annual variable remuneration for the 2019 financial year. Accordingly, the
&#8220;discretionary pension benefits&#8221; for members of the Senior Management for the 2019
financial year were determined in an amount of &#8364;402 thousand, which will be
included in the accumulated fund for the 2020 financial year, subject to the
same conditions as the deferred portion of annual variable remuneration for the
2019 financial year, 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;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;">Extinction of contractual relationship </font></i></b></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">In accordance with the
Directors&#8217; Remuneration Policy, the Bank has no commitments to pay severance
benefits to any executive directors.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">With regard to Senior
Management, excluding executive directors, the Bank paid out a total of &#8364;8,368
thousand during the 2019 financial year, resulting from the termination of
employment of four senior managers with an average length of service in the Group
of 25 years, pursuant to the terms of their employment contracts. These
contracts include the right to receive the relevant legal severance payment,
provided that termination of their contract is not due to voluntary leave,
retirement, disability or serious breach of their duties. These amounts will be
calculated in accordance with the provisions of applicable labor regulations.
In some cases, the contracts also include the right to an amount in addition to
the required legal severance payment, which will be considered variable
remuneration in accordance with the solvency regulations that apply to these
senior managers, as well as prior notice clauses. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">In connection with the
above, as of December 31, 2019, &#8364;1,199 thousand was pending payment and will be
paid, if conditions are met, in accordance with the same schedule and
regulations of the settlement and payment system applicable to the annual
variable remuneration for the 2019 financial year, as established in the
remuneration policy applicable to the members of Senior Management.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom: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;">These payments comply
with the conditions set out in the regulations applicable to the group of
employees with a material impact on the Group's risk profile, to which these
senior managers belonged. </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" lang=EN-US style="font-size:10.0pt;line-height:115%;">C</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">.&#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;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 Committee; the
Appointments and Corporate Governance Committee; the Remunerations Committee;
the Risk and Compliance 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 align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">184</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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: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;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, BBVA&#8217;s Executive Committee is comprised of two executive
directors, three external directors and one independent director, 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="border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <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" lang=EN-US style="font-size:9.0pt;">Position</font></b></font></p>
  </td>
 <td valign=bottom width=50% style="border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <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" lang=EN-US style="font-size:9.0pt;">Name</font></b></font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="border:none;padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:68.0pt;margin-right:9.35pt;margin-top:0cm;page-break-after:avoid;text-indent:-68.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Chairman</font></font></p>
  </td>
 <td valign=bottom width=50% style="border:none;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=EN-US style="font-size:9.0pt;">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=EN-US style="font-size:9.0pt;">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=EN-US style="font-size:9.0pt;">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" lang=EN-US style="font-size:9.0pt;">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-TRAD style="font-size:9.0pt;">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-TRAD style="font-size:9.0pt;">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-TRAD style="font-size:9.0pt;">Mrs. Susana Rodr&#237;guez
  Vidarte</font></font></p>
  </td>
 </tr>
</table>


</div>


<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top: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;">According to Regulations of the Executive
Committee, which were approved by the Board of Directors in April 2019, the
Executive Committee will deal with matters delegated to it by the Board of
Directors and, in particular, will have the following functions, among others:</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top: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;">Support functions to the Board of Directors in
its decision-making:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.55pt;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="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">On strategy: (i) establishment of the bases and previous analysis
of the proposals submitted to the Board of Directors in relation to the Bank&#8217;s
Strategic Plan or other strategic decisions, including the Risk Appetite
Framework; (ii) prior analysis of the strategic and financial aspects of the
proposals submitted to the Board of Directors in relation to corporate
transactions corresponding to its decision-making powers, in respect of which
it will submit its report to the Board, accompanied, where necessary, by
reports from the other Board committees on those matters within their
respective remits. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.55pt;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="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">On budgets: (i) prior analysis of the proposals submitted to the
Board of Directors in relation to the Bank&#8217;s budgets; (ii) adoption of the
corresponding decisions for the implementation of the budget approved by the
Board of Directors; (iii) analysis of deviations from the approved budget and,
where appropriate, reporting such to the Board of Directors.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.55pt;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="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">On finances: (i) establishment of the bases and previous analysis
of the proposals submitted to the Board of Directors relating to the Bank&#8217;s
funding plan, its capital and liquidity structure, and its dividends policy;
(ii) adoption of implementation decisions of mandates expressly conferred on it
by the Board of Directors in these fields.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.55pt;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="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Analysis of matters relating to business risk in the proposals and
plans submitted to the Board of Directors. </font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:53.85pt;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="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Analysis, assessment and management of matters relating to
reputational risk. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:21.25pt;margin-right:0cm;margin-top:10.0pt;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;">Functions of prior reporting
on policies submitted to the Board of Directors and approval of general Group
and Company policies:</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:49.65pt;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="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, prior to their consideration by the Board of Directors,
the general Group and Company policies that, in accordance with the law or
internal regulations, must be approved by the Board of Directors, except for
policies relating to issues within other Board committees&#8217; remit, which will be
approved or reported to the Board beforehand by the corresponding committee.</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:21.25pt;margin-right:0cm;margin-top:10.0pt;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;">Monitoring
and control functions: </font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:49.65pt;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="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 will perform monitoring and control functions
regarding the following matters, among others: (i) the Group&#8217;s activity and
results; (ii) budget monitoring; (iii) progress of the Strategic Plan, through
the key performance indicators established for this purpose; (iv) monitoring of
the Group&#8217;s liquidity and funding plan and capital situation, as well as of the
activity of the Assets and Liabilities Committee; (v) analysis of the markets
in which the Group carries out its activities; (vi) progress of the projects
and investments agreed upon within its remit.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;margin-left:21.25pt;margin-right:0cm;margin-top:10.0pt;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;">Decision-making powers over
the following issues, among others:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:49.6pt;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="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Investments and divestments exceeding &#8364;50 million and not reaching
&#8364;400 million, unless they are of a strategic nature due to their particular
characteristics, in which case the decision will correspond to the Board of
Directors.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:49.6pt;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="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Plans and projects that are considered of importance to the Group
and that arise from its activities, when they do not fall within the remit of
the Board of Directors.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:49.6pt;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="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 granting and revoking of the Bank&#8217;s powers of attorney.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:49.6pt;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="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Proposals for the appointment and replacement of directors in the
Bank&#8217;s subsidiaries or investee companies with more than &#8364;50 million in own
funds.</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 will meet whenever it is
convened by its Chair, who is empowered to call the Committee meetings and to
set their agendas. The Committee will endeavor to establish an annual calendar
of meetings, considering the amount of time to be devoted to its different
tasks. During 2019, the Executive Committee met eighteen (18) 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 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 Committee shall perform the duties
required under applicable law, Board regulations, our Bylaws and its specific
Regulations. Essentially, its mission is to assist the Board in overseeing the
preparation of the financial statements and public information, and the
relationship with the external auditor and the Internal Audit function.</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
Committee will be composed of a minimum of four directors to be appointed by
the Board of Directors, which will also appoint its Chair, who will be replaced
every four years and may be re-elected one year after ceasing to hold the position.
The Audit Committee will be composed exclusively of independent directors. The
Board of Directors will endeavor to ensure that the members of the Committee
have the knowledge and experience appropriate to the duties they are called
upon to perform. In any event, at least one member will be appointed taking
into account his or her knowledge and experience in accounting, auditing or
both. . 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;&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 Committee is comprised of five independent directors,
who are the following:</font></font></p>

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<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="border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <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" lang=EN-US style="font-size:9.0pt;">Position</font></b></font></p>
  </td>
 <td valign=bottom width=50% style="border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <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" lang=EN-US style="font-size:9.0pt;">Name</font></b></font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="border:none;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;page-break-after:avoid;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Chairman</font></font></p>
  </td>
 <td valign=bottom width=50% style="border:none;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=EN-US style="font-size:9.0pt;">Mr. Jaime F&#233;lix Caruana
  Lacorte</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;">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;page-break-after:avoid;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">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;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:9.0pt;">Mrs. Bel&#233;n Garijo L&#243;pez</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=ES-TRAD style="font-size:9.0pt;">Mrs. Lourdes M&#225;iz Carro</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=ES-TRAD style="font-size:9.0pt;">Mrs. Ana Cristina Peralta
  Moreno</font></font></p>
  </td>
 </tr>
</table>


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<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=ES 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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">186</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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: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 Regulations of the Audit Committee, which were approved in
April 2019, the scope of its functions is 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:-14.2pt;"><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 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%;">Inform the general
shareholders&#8217; meeting on the questions raised in relation to the matters that
are within the remit of the Committee and, in particular, on the result of the
audit, explaining how the audit has contributed to the integrity of the
financial information and the function performed by the Committee in this
process;</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:-14.2pt;"><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 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%;">Oversee the process of
preparing and reporting financial information and submit recommendations or
proposals to the Board of Directors aimed at safeguarding the integrity
thereof.</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:-14.2pt;"><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 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%;">Likewise, analyze, prior to
their submission to the Board of Directors and in enough detail to guarantee
their accuracy, reliability, sufficiency and clarity, the financial statements
of the Bank and of its consolidated Group contained in the annual, six-monthly
and quarterly reports, as well as in all other required financial and related
non-financial information.</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:-14.2pt;"><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 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%;">Additionally, the Committee
shall review the necessary consolidation perimeter, the correct application of
accounting criteria, and all the relevant changes relating to the accounting
principles used and to the presentation of the 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:-14.2pt;"><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 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%;">Oversee the effectiveness of
the Company&#8217;s internal control and risk management systems, in terms of the
process of preparing and reporting financial information, including fiscal
risks, and discuss with the auditor any significant weaknesses in the internal
control system detected during the audit, without undermining its independence.
For such purposes, and where appropriate, the Committee may submit
recommendations or proposals to the Board of Directors, along with the deadline
for their follow-up; </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:-14.2pt;"><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 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%;">With regard to the Internal Audit function:</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:53.85pt;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;">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;</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 to the Board of Directors the selection, appointment,
re-election and removal of the head of the Internal Audit function, based on
candidates from within the executive level pre-selected by the Talent &amp;
Culture area. </font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:53.85pt;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;">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;</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;">Monitor the independence, effectiveness and operation of the
Internal Audit function. </font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:53.85pt;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;">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;</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 and establish objectives for the head of the Internal
Audit function and assess his or her performance, submitting its proposal on
both matters to the Remunerations Committee in order to ensure alignment with
the remuneration model applicable to the Senior Management at any given time,
submitting the corresponding proposals to the Board of Directors. </font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:53.85pt;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;">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;</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 Internal Audit function has the necessary material
and human resources for the effective performance of its functions, in terms of
personnel, as well as material elements, systems, procedures and operation
manuals. </font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:53.85pt;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;">e)</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 and, where appropriate, approve the annual work plan for
the Internal Audit function, as well as any other occasional or specific plans
to be implemented as a result of regulatory changes or as required for the
organization of the Group&#8217;s business.</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:-14.2pt;"><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 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%;">Receive monthly information
from the head of the Internal Audit function regarding the activities carried
out by the Internal Audit function, as well as regarding any incidents and
obstacles that may arise, and verify that the Senior Management takes into
account the conclusions and recommendations of his or her reports.</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:-14.2pt;"><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 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%;">Be apprised of the audited
units&#8217; degree of compliance with corrective measures previously recommended by
Internal Audit, and report to the Board on those cases that may involve a significant
risk for the Group.</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:-14.2pt;"><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 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%;">Submit to the Board of
Directors proposals for 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 the hiring conditions of the
external auditor, and to periodically obtain information from the external
auditor on the external audit plan and its execution, in addition to preserving
its independence in the performance of its functions;</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:-14.2pt;"><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 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%;">Ensure the independence of the auditor in two senses: (i) avoiding
that the auditor&#8217;s warnings, opinions or recommendations may be adversely
influenced. To this end, ensuring that compensation for the auditor&#8217;s work does
not compromise either its quality or independence, in compliance with the
auditing legislation in force at any given moment; (ii) establishing
incompatibility between the provision of audit and consulting services, unless
they are tasks required by supervisors or the provision of which by the auditor
is permitted by applicable legislation, and there are no alternatives on the
market that are equal in terms of content, quality or efficiency to those
provided by the auditor, in which case, conformity of the Committee will be
required, and this decision may be delegated in advance to its Chair. </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:-14.2pt;"><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 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%;">Establish appropriate
relations with the auditor in order to receive information on any matters that
may jeopardize their independence and any other matters in connection with the
auditing process, as well as those other communications provided for by law and
in auditing standards. In any event, the Committee must receive from the external
auditors, on an annual basis, a statement of their independence with regard to
the Company or entities directly or indirectly associated with it, as well as
detailed and individualized information on additional services of any kind
provided and the corresponding fees received by the external auditor or by
persons or entities associated with the external auditor, as provided for in
auditing legislation;</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:-14.2pt;"><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 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%;">Where appropriate, authorize
the provision of additional services other than prohibited services, by the
auditor or associated persons or entities, the performance of which is required
by applicable regulations in each case, under the terms provided for in
auditing legislation.</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:-14.2pt;"><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 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%;">Issue, on an annual basis and
before the audit report is issued, a report expressing an opinion on whether
the auditor&#8217;s independence has been compromised. This report must, in all
cases, contain a reasoned assessment of the provision of each and every
additional service referred to in the preceding paragraph, considered individually
and collectively, other than the legal audit, and relating to the framework of
independence or the regulations on audit activity;</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:-14.2pt;"><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 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%;">Verify, with the appropriate
frequency, that the external audit program is being carried out in accordance
with the contract conditions and is thereby meeting the requirements of the
competent official authorities and the corporate bodies. The Committee will
also periodically &#8211; at least once per year &#8211; request from the auditor an
evaluation of the quality of the internal control procedures regarding the
preparation and reporting of the Group&#8217;s financial information;</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:-14.2pt;"><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 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%;">Ensure that the auditor holds
an annual meeting with the full Board of Directors to inform it of the work
carried out and the progress of the Company&#8217;s risks and accounting situations;</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:-14.2pt;"><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 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%;">Be apprised of any
infringements, situations requiring adjustments, or anomalies that may be
detected during the course of the external audit, provided that these are
relevant;</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:-14.2pt;"><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 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%;">Be apprised of reports,
documents or communications from external supervisory bodies related to the
scope of the Committee&#8217;s functions in the terms set out above. The Committee
will ensure that the instructions, requirements and recommendations received
from the supervisory bodies are implemented in due time and form, in order to
correct any irregularities, shortfalls or inadequacies that may be detected in
the inspections performed, within the scope of their functions;</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:-14.2pt;"><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 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%;">Report on all matters within
its remit as provided for in the law, the Bylaws and the Regulations of the
Board of Directors prior to any decisions that the Board of Directors may be
required to adopt regarding such matters, and in particular on: financial
information that the Company is required to publish; economic conditions and
accounting impact of relevant corporate transactions and structural
modifications (modificaciones estructurales); the creation or acquisition of
shares in special purpose vehicles or in entities domiciled in territories
considered to be tax havens; and related-party transactions;</font></font></p>


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<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:21.3pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Audit Committee
will meet whenever it is convened by its Chair, who is empowered to call the
Committee meetings and to set their agendas. The Committee will endeavor to
establish an annual calendar of meetings, considering the amount of time to be
devoted to its different tasks. During 2019, the Audit Committee met fifteen
(15) 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 responsible for the areas that manage
matters within the Committee&#8217;s remit may be called to meetings, in particular,
Accounting and Internal Audit areas and, at the request thereof, those persons
within the Group who have knowledge of or responsibility for the matters
covered by the agenda, when their presence at the meeting is deemed convenient.
The Committee may also call any other Group employee or manager, and even
arrange for them to attend without the presence of any other manager. </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;">Notwithstanding the foregoing, it will seek to
ensure that the presence of persons outside the Committee during these
meetings, such as Bank managers and employees, be limited to those cases where
it is necessary and to the items on the agenda for which they are called. In
any event, the Committee will endeavor to hold private meetings with the head
of Internal Audit and with the external auditor, without the attendance of other
persons and at appropriate intervals. </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, through its Secretary, engage
external advisory services for relevant issues when it considers that these
cannot be 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;">Furthermore, the Committee may solicit personal
cooperation and reports from any employee or member of the Senior Management if
deemed necessary in order to comply with its functions in relevant matters. </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 and Corporate Governance 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 and Corporate Governance
Committee assists the Board of Directors in matters relating to the selection
and appointment of members of the Board of Directors; the assessment of
performance; the drafting of succession plans; the Bank&#8217;s corporate governance
system; and the supervision of the conduct of directors and any conflicts of
interest that may affect them.</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 will be composed of a minimum of three directors who must be
non-executive directors appointed by the Board of Directors, which will also
appoint its Chair. The Chair and the majority of its members must be
independent directors.</font></font></p>

<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;">As of the date of this
Annual Report, the Appointments and Corporate Governance Committee is composed
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="border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <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" lang=EN-US style="font-size:9.0pt;">Position</font></b></font></p>
  </td>
 <td valign=bottom width=50% style="border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <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" lang=EN-US style="font-size:9.0pt;">Name</font></b></font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="border:none;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;page-break-after:avoid;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Chairman</font></font></p>
  </td>
 <td valign=bottom width=50% style="border:none;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:9.0pt;">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;page-break-after:avoid;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">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;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:9.0pt;">Mrs. Bel&#233;n Garijo L&#243;pez</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=ES-TRAD style="font-size:9.0pt;">Mr. Jos&#233; Maldonado Ramos</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=ES-TRAD style="font-size:9.0pt;">Mr. Juan Pi Llorens</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=ES-TRAD style="font-size:9.0pt;">Mrs. Susana Rodr&#237;guez
  Vidarte</font></font></p>
  </td>
 </tr>
</table>


</div>


<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=ES style="font-size:10.0pt;">&nbsp;</font></font></p>

<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 functions of the
Appointments and Corporate Governance Committee under the Regulations of the
Appointments and Corporate Governance, which were approved by the Board of
Directors in April 2019, are 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:-14.2pt;"><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 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%;">Submit proposals to the Board
of Directors for the appointment, re-election or removal of independent
directors and report on proposals for the appointment, re-election or removal
of the remaining directors.</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;">To this
end, the Committee will evaluate the balance of knowledge, skills and
experience of the Board of Directors, as well as the conditions that the
candidates must meet to cover the vacancies that arise, assessing the
dedication of time considered necessary to adequately carry out their duties,
in view of the needs that the corporate bodies have at any given 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 selection procedures are not implicitly biased in
such a way that may entail any kind of discrimination and, in particular, that
may hinder the selection of directors of the underrepresented gender,
endeavoring that directors of said gender who display the professional profile
sought are included amongst potential candidates.</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:35.45pt;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, when drafting the corresponding proposals
for the appointment of directors, will take into consideration, in case they
may be considered suitable, any requests that may be made by any member of the
Board of Directors regarding potential candidates to fill the vacancies that
have arisen;</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:-14.2pt;"><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 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%;">Submit proposals to the Board
of Directors on policies on the selection and diversity of the members of 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-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: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 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%;">Establish a target for
representation of the underrepresented gender on the Board of Directors and
draw up guidelines on how to reach that target;</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:-14.2pt;"><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 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%;">Analyze the structure, size
and composition of the Board of Directors, at least once per year, when
assessing its operation;</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:-14.2pt;"><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 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%;">Analyze the suitability of the
members of 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-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: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 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%;">Review the status of each
director each year, so that this may be reflected in the Annual Corporate
Governance Report;</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:-14.2pt;"><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 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%;">Report on proposals for the
appointment of the Chairman of the Board and Secretary and, where appropriate,
the Deputy Chair and the Deputy Secretary, as well as the Chief Executive
Officer (Consejero Delegado);</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:-14.2pt;"><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 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%;">Submit to the Board of
Directors proposals for the appointment, removal or re-election of the Lead
Director;</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:-14.2pt;"><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 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%;">Determine the procedure for
assessing the performance of the Chairman of the Board of Directors, the Chief
Executive Officer, the Board of Directors as a whole and the Board&#8217;s
committees, and to oversee its implementation;</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:-14.2pt;"><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 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%;">Report on the quality and
efficiency of the performance of 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-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: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 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%;">Report on the performance of
the Chairman of the Board of Directors and of the Chief Executive Officer, integrating
for the latter the assessment made in this regard by the Executive Committee,
for the purpose of the periodic assessment of both by 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-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: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 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%;">Examine and organize the
succession of the Chairman of the Board of Directors, the Chief Executive
Officer and, where applicable, the Deputy Chair, in coordination with the Lead
Director in the case of the Chairman of the Board and, where appropriate,
submit proposals to the Board of Directors to ensure that the succession takes
place in an orderly and planned manner;</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:-14.2pt;"><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 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%;">Review the Board of Directors&#8217;
policy on the selection and appointment of members of the Senior Management,
and submit recommendations to the Board when applicable;</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:-14.2pt;"><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 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%;">Report on proposals for the
appointment and removal of senior managers; </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:-14.2pt;"><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 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%;">Regularly review and assess
the Company&#8217;s corporate governance system and, where applicable, submit
proposals to the Board of Directors, for approval or subsequent submission to
the general shareholders&#8217; meeting, on any amendments and updates that would
contribute to its implementation and continuous improvement;</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:-14.2pt;"><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 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%;">Ensure compliance with the
provisions applicable to directors contained in the Regulations of the Board of
Directors or in the applicable legislation, as well as with the rules relating
to conduct on the securities markets, and inform the Board of these if it deems
it necessary; and</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">190</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;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: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 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%;">Report, prior to any decisions that may be made by the Board of
Directors, on all matters within its remit as provided for in the law, the
Bylaws, the Regulations of the Board of Directors and the Regulations of the
Appointments and Corporate Governance Committee, and in particular on
situations of conflict of interest of the directors.</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 and Corporate Governance Committee, through its Chair, will
consult with the Chairman of the Board of Directors, particularly with respect
to matters relating 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 the Regulations of the
Appointments and Corporate Governance Committee, executives responsible for the
areas that manage matters within the Committee&#8217;s remit may be called to
meetings, as well as, at the request thereof, those persons within the Group
who have knowledge of or responsibility for the matters covered by the agenda,
when their presence at the meeting is deemed convenient. The Committee may also
call any other Group employee or manager, and even arrange for them to attend
without the presence of any other manager. </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;">Notwithstanding the foregoing, it will seek to
ensure that the presence of persons outside the Committee during these
meetings, such as Bank managers and employees, be limited to those cases where
it is necessary and to the items on the agenda for which they are called. </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, through its Secretary, engage
external advisory services for relevant issues when it considers that these
cannot be provided by experts or technical staff within the Group on grounds of
specialization or independence. Furthermore, the Committee may solicit personal
cooperation and reports from any employee or member of the Senior Management if
deemed necessary in order to comply with its functions in relevant matters. </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 will meet whenever it is convened
by its Chair, who is empowered to call the Committee meetings and to set their
agendas. The Committee will endeavor to establish an annual calendar of
meetings, considering the amount of time to be devoted to its different tasks.
During 2019, the Appointments and Corporate Governance Committee met eight (8)
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;">Remunerations 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 Remunerations Committee, in accordance with
the Board of Directors Regulations, assists the Board of Directors in
remuneration matters within its remit and, in particular, those relating to the
remuneration of directors, senior managers and those employees whose
professional activities have a significant impact on the Group&#8217;s risk profile. </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
be composed of a minimum of three directors appointed by the Board of
Directors. All the members must be non-executive directors, with a majority of
independent directors, including the Chair.</font></font></p>

<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;">As of the date of this
Annual Report, the Remunerations Committee is composed 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="border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <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" lang=EN-US style="font-size:9.0pt;">Position</font></b></font></p>
  </td>
 <td valign=bottom width=50% style="border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <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" lang=EN-US style="font-size:9.0pt;">Name</font></b></font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="border:none;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;page-break-after:avoid;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Chairman</font></font></p>
  </td>
 <td valign=bottom width=50% style="border:none;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=EN-US style="font-size:9.0pt;">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;page-break-after:avoid;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">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;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:9.0pt;">Mr. Tom&#225;s Alfaro Drake</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=ES-TRAD style="font-size:9.0pt;">Mr. Carlos Loring Mart&#237;nez
  de Irujo</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=ES-TRAD style="font-size:9.0pt;">Mrs. Lourdes M&#225;iz Carro</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=ES-TRAD style="font-size:9.0pt;">Mrs. Ana Cristina Peralta
  Moreno</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=ES style="font-size:10.0pt;">&nbsp;</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 the
Regulations of the Remunerations Committee, which were approved by the Board of
Directors in April 2019, the scope of the functions of the Remunerations
Committee is 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:-14.2pt;"><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 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%;">Propose to the Board of
Directors, for submission to the general shareholders&#8217; meeting, the&#160; remuneration
policy for directors, and also submit its corresponding report, all in
accordance with the terms established by applicable regulations at any given
time;</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">191</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;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: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 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%;">Determine the remuneration of non-executive directors, as provided
for in the remuneration policy for directors, submitting the corresponding
proposals to the Board;</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:-14.2pt;"><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 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%;">Determine the extent and
amount of the individual remunerations, rights and other economic rewards, as
well as the remaining contractual conditions for executive directors, so that
these can be contractually agreed, in accordance with the remuneration policy
for directors, submitting the corresponding proposals 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-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: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 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%;">Determine the objectives and
criteria for measuring the variable remuneration of the executive directors and
assess the degree of achievement thereof, submitting the corresponding
proposals to the Board of Directors, which, in the case of the Chief Executive
Officer (Consejero Delegado), will take into account the assessment made by the
Executive Committee and, in the case of other executive directors who may
report to the Group Executive Chairman or to the Chief Executive Officer, the
assessment made by these;</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:-14.2pt;"><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 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%;">Analyze, where appropriate,
the need to make ex-ante or ex-post adjustments to variable remuneration,
including the application of malus or clawback arrangements for variable
remuneration, submitting the corresponding proposals to the Board of Directors,
prior report of the corresponding committees in each case;</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:-14.2pt;"><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 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%;">Annually submit the proposal
of the annual report on the remuneration of the Bank&#8217;s directors to the Board
of Directors, which will then be submitted to the annual general shareholders&#8217;
meeting, in accordance with the provisions of the applicable 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:-14.2pt;"><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 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%;">Propose to the Board of
Directors the remuneration policy for senior managers and employees whose
professional activities have a significant impact on the Group&#8217;s risk profile.
Likewise, oversee its implementation, including supervision of the process for
identifying such employees;</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:-14.2pt;"><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 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%;">Submit a proposal to the Board
of Directors, and supervise the implementation of, the Group&#8217;s remuneration
policy, which may include the policy for senior managers and the policy for
employees whose professional activities have a significant impact on the
Group&#8217;s risk profile, stated in the previous paragraph; </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:-14.2pt;"><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 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%;">Submit to the Board of
Directors the&nbsp;proposals for basic contractual conditions for senior
managers, including their remuneration and severance indemnity in the event of
termination;</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:-14.2pt;"><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 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%;">Directly oversee the remuneration
of senior managers and determine, within the framework of the remuneration
model applicable to Senior Management at any given time, the objectives and
criteria for measuring variable remuneration of the heads of the Regulation and
Internal Control function and of the Internal Audit function, submitting the
corresponding proposals to the Board of Directors, on the basis of those
submitted to it in this regard by the Risk and Compliance Committee and the
Audit Committee, respectively;</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:-14.2pt;"><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 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%;">Ensure observance of the
remuneration policies established by the Company and review them periodically,
proposing, where appropriate, any modifications deemed necessary to ensure,
amongst other things, that they are adequate for the purposes of attracting and
retaining the best professionals, that they contribute to the creation of
long-term value and adequate control and management of risks, and that they
attend to the principle of pay equity. In particular, ensure that the
remuneration policies established by the Company are subject to internal,
central and independent review at least once a year; </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:-14.2pt;"><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 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%;">Verify the information on the
remuneration of directors and senior managers contained in the various
corporate documents, including the annual report on the remuneration of directors;
and</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">192</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;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: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 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%;">Oversee the selection of external advisers, whose advice or
support is required for the performance of their functions in remuneration
matters, ensuring that any potential conflicts of interest do not impair the
independence of the advice provided.</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 Committee,
through its Chair, will consult with the Chairman of the Board of Directors,
particularly with respect to matters relating 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 the Regulations of the Remunerations
Committee, executives responsible for the areas that manage matters within the
Committee&#8217;s remit may be called to meetings, as well as, at the request
thereof, those persons within the Group who have knowledge of or responsibility
for the matters covered by the agenda, when their presence at the meeting is
deemed convenient. The Committee may also call any other Group employee or
manager, and even arrange for them to attend without the presence of any other
manager.</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;">Notwithstanding the foregoing, it will seek to
ensure that the presence of persons outside the Committee during these
meetings, such as Bank managers and employees, be limited to those cases where
it is necessary and to the items on the agenda for which they are called. </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 Remunerations Committee will meet whenever
it is convened by its Chair, who is empowered to call the Committee meetings
and to set their agendas. The Committee will endeavor to establish an annual
calendar of meetings, considering the amount of time to be devoted to its
different tasks. During 2019, the Remunerations Committee met on seven (7)
occasions.</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;">Risk and Compliance 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 and Compliance Committee&#8217;s
essential function is to assist the Board of Directors in the determination and
monitoring of the Group&#8217;s risk control and management policy, including risk
internal control and non-financial risks, with the exception of those related
to internal financial control, which are within the Audit Committee&#8217;s remit;
those related to technological risk, which are within the Technology and
Cybersecurity Committee&#8217;s remit; and those related to business and reputational
risk, which are within the Executive Committee&#8217;s remit. It will also assist the
Board of Directors in the oversight of the Compliance functions and the
implementation of a risk and compliance culture in the Group. </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 and Compliance Committee will consist
of a minimum of three directors appointed by the Board of Directors, which will
also appoint its Chair. All the members of this Committee must be non-executive
directors and the majority, including the Chair, must be independent directors.
The Board of Directors will endeavor to ensure that the members of the
Committee possess the appropriate knowledge, ability and experience to understand
and control the risk strategy.</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 and Compliance Committee is composed 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="border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <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" lang=EN-US style="font-size:9.0pt;">Position</font></b></font></p>
  </td>
 <td valign=bottom width=50% style="border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <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" lang=EN-US style="font-size:9.0pt;">Name</font></b></font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="border:none;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;page-break-after:avoid;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Chairman</font></font></p>
  </td>
 <td valign=bottom width=50% style="border:none;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=EN-US style="font-size:9.0pt;">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;page-break-after:avoid;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">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;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=ES-TRAD style="font-size:9.0pt;">Mr. Jos&#233; Miguel Andr&#233;s
  Torrecillas</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=ES-TRAD style="font-size:9.0pt;">Mr. Jaime F&#233;lix Caruana
  Lacorte</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=ES-TRAD style="font-size:9.0pt;">Mr. Carlos Loring Mart&#237;nez
  de Irujo</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;">Mrs. Susana Rodr&#237;guez Vidarte</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;">&nbsp;</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;">Under the Regulations
of the Risk and Compliance Committee, which were approved by the Board of
Directors in April 2019, the Committee 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-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: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 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%;">Based on the strategic elements established by either the Board of
Directors or the Executive Committee at any given time, analyze and submit to
the Board proposals regarding the Group&#8217;s risk strategy, management and
control, identifying in particular:</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:78.0pt;margin-right:0cm;margin-top:0cm;text-indent:-14.2pt;"><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:normal;">a)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&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 Group&#8217;s risk appetite; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:78.0pt;margin-right:0cm;margin-top:0cm;text-indent:-14.2pt;"><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:normal;">b)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;line-height:normal;">&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;">Determination of the level of risk considered acceptable in terms
of risk profile and capital at risk, broken down by the Group&#8217;s businesses and
areas of activity.</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">193</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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:10.0pt;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 foregoing will include the Bank&#8217;s Risk Appetite
Framework, the internal capital and liquidity adequacy assessment processes,
which the Committee will analyze and submit to the Board of Directors, based on
the strategic-financial approaches determined by both the Board of Directors
and the Executive Committee;</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:-14.2pt;"><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 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%;">Address, in a manner
consistent with the Risk Appetite Framework established by the Board of
Directors, the control and management policies for the different risks,
including financial risks, and, to the extent that they do not correspond to
another Board committee, non-financial risks, as well as 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;page-break-after:avoid;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: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 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%;">Oversee the effectiveness of the Regulation and Internal Control
function (integrated by the Regulation, Supervisors and Compliance areas, as
well as the Risk Internal Control and the Non-Financial Risks areas), which
will hierarchically report to the Board of Directors, through the Committee,
and in particular:</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:78.0pt;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;">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;</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 to the Board of Directors the appointment and removal of
the head of Regulation and Internal Control function, based on candidates from
within the executive level pre-selected by the Talent &amp; Culture area;</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:78.0pt;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;">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;</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 and establish objectives for the head of Regulation and
Internal Control function and assess his or her performance, incorporating the
assessment of the Chairman of the Board regarding the Regulation and
Supervisors functions, submitting its proposal on both matters to the
Remunerations Committee in order to ensure alignment with the remuneration
model applicable to the Senior Management at any given time, submitting the
corresponding proposals to the Board of Directors;</font></font></p>

<p style="border:none;margin-bottom:0cm;margin-left:78.0pt;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;">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;</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 Regulation and Internal Control function has the
necessary material and human resources for the effective performance of its
functions; and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:77.95pt;margin-right:0cm;margin-top:0cm;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;">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;</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 and, where appropriate, approve the annual work plan for
the Regulation and Internal Control function, as well as its modifications, and
monitor compliance thereof;</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:-14.2pt;"><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 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%;">Receive monthly information
from the head of Regulation and Internal Control function regarding the
activities carried out by this area, as well as regarding any incidents that
may arise, and verify that the Senior Management takes into account the
conclusions and recommendations of his or her reports. Notwithstanding the
foregoing, the head of Regulation and Internal Control function will also
report quarterly to the full Board of Directors.</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;">The Committee will also receive periodic information, as often as
appropriate, from the heads of the Compliance, Risk Internal Control and
Non-Financial Risk areas, integrated in the Regulation and Internal Control
function;</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:-14.2pt;"><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 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%;">Monitor the evolution of the
Group&#8217;s risks and their degree of compatibility with established strategies and
policies,&#160; and with the Group&#8217;s Risk Appetite Framework, and oversee
procedures, tools and risk measurement indicators established at Group level to
obtain a global view of the Bank&#8217;s and the Group&#8217;s risks. Likewise, monitor
compliance with prudential regulation and supervisory requirements regarding
risks. </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;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;">Furthermore,
analyze, where appropriate, the measures envisaged to mitigate the impact of
identified risks, should these materialize, to be adopted by the Executive
Committee or the Board of Directors, as appropriate; </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:-14.2pt;"><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 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%;">Analyze, within its remit, the
risks associated with projects that are considered strategic for the Group or
with corporate transactions to be submitted to consideration by the Board of
Directors or, where appropriate, to consideration by the Executive Committee
and, where necessary, submit the corresponding report;</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:-14.2pt;"><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 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%;">Analyze, prior to their
submission to the Board of Directors or to the Executive Committee those risk
operations to be submitted to their consideration;</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:-14.2pt;"><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 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%;">Examine whether the prices of the assets and liabilities offered
to customers fully take into account the Bank&#8217;s business model and risk
strategy and, if not, submit a plan to the Board of Directors aimed at
rectifying the situation;</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:-14.2pt;"><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 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%;">Participate in the process of
establishing the remuneration policy, ascertaining that it is compatible with
an adequate and effective risk management strategy and that it does not offer
incentives to assume risks that exceed the level tolerated by 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:-14.2pt;"><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 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%;">Verify that the Company and
the Group have means, systems, structures and resources that are consistent
with best practices that enable to implement their risk management strategy,
ensuring that the Bank&#8217;s risk management mechanisms are adequate in relation
thereto; </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:-14.2pt;"><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 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%;">Report, prior to any decisions
that may have to be adopted by the Board of Directors, on all matters within
its remit as provided for in the law, the Bylaws, the Regulations of the Board
of Directors and these Regulations;</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:-14.2pt;"><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 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%;">Ensure compliance with
applicable national or international regulations on matters related to money
laundering, conduct on the securities markets, data protection and the scope of
Group activities with respect to competition, and ensure that requests for
information or action made by official authorities on these matters are dealt
with in due time and in an appropriate manner;</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:-14.2pt;"><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 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%;">Be informed on any breach of
the applicable internal or external regulations, as well as the relevant events
that the areas reporting to the Committee may have identified within their
oversight and control functions. Likewise, the Committee shall be informed on
those issues related to legal risks which may arise in the course of Group&#8217;s
activity;</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:-14.2pt;"><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 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%;">&#160;Examine draft codes of ethics
and conduct and their respective modifications prepared by the corresponding
area of the Group, and issue its opinion in advance of the proposals to be
drawn up to the corporate bodies;</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:-14.2pt;"><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 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%;">Be apprised of reports,
documents or communications from external supervisory bodies, notwithstanding
any communication made with the remaining committees with regard to their respective
remits. Likewise, verify that the instructions, requirements and
recommendations received from the supervisory bodies in order to correct the
irregularities, shortfalls or inadequacies identified in the inspections
performed are fulfilled in due time and appropriate manner.</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:-14.2pt;"><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 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%;">Ensure the promotion of risk
culture across the Group;</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:-14.2pt;"><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 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%;">Supervise the Group&#8217;s criminal
risk prevention model; 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:-14.2pt;"><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 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%;">Review and supervise the
systems under which Group professionals may confidentially report any possible
irregularities in the field of financial information or other matters.</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 the Regulations of the Risk and
Compliance Committee, executives responsible for the areas that manage matters
within the Committee&#8217;s remit may be called to meetings, in particular, Regulation
and Internal Control area and Risks area, and, at the request thereof, those
persons within the Group who have knowledge of or responsibility for the
matters covered by the agenda, when their presence at the meeting is deemed
convenient The Committee may also call any other Group employee or manager, and
even arrange for them to attend without the presence of any other manager.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;text-indent:21.3pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Notwithstanding the foregoing, it will seek to
ensure that the presence of persons outside the Committee during these meetings,
such as Bank managers and employees, be limited to those cases where it is
necessary and to the items on the agenda for which they are called.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Committee will meet whenever it is convened
by its Chair, who is empowered to call the Committee meetings and to set their
agendas. The Committee will endeavor to establish an annual calendar of
meetings, considering the amount of time to be devoted to its different tasks.
In 2019, it held twenty-one (21) meetings.</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">195</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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: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 function <a name="_cp_text_1_984"></a>is to assist the Board of
Directors in the oversight of technological risk and cybersecurity management
and in monitoring the Group&#8217;s technology strategy.</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
consist of a minimum of three directors appointed by the Board of Directors,
which will also appoint its Chair. The Board of Directors will endeavor to
ensure that the members of the Committee have the knowledge and experience
appropriate to the duties they are called upon to perform.</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 composed of one
executive director, three independent directors and one external director, 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="border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <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;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;&nbsp;</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Position&nbsp;</font></b></font></p>
  </td>
 <td valign=bottom width=50% style="border:none;border-bottom:solid windowtext 1.0pt;padding:0cm 2.9pt 0cm 2.9pt;">
  <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" lang=EN-US style="font-size:9.0pt;">Name</font></b></font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=50% style="border:none;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;page-break-after:avoid;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Chairman</font></font></p>
  </td>
 <td valign=bottom width=50% style="border:none;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=EN-US style="font-size:9.0pt;">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;page-break-after:avoid;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">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;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Mr. Tom&#225;s Alfaro Drake</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;">Mr. Sunir Kumar Kapoor</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;">Mr. Juan Pi Llorens</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;">Mr. Jan Paul Marie Francis
  Verplancke</font></font></p>
  </td>
 </tr>
</table>


</div>


<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;">&nbsp;</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;">Under its <a name="_cp_text_1_993"></a>regulations, which were approved in April 2019, the
Technology and Cybersecurity Committee has the following <a name="_cp_text_1_995"></a>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;">- Oversight of <a name="_cp_text_1_997"></a>technological risk and cybersecurity management<a name="_cp_text_1_998"></a>:</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:-14.2pt;"><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: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 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%;">Review the Group&#8217;s exposures
to the main technological risks, including the risks related to information
security and cybersecurity, as well as the procedures adopted by the executive
area to monitor and control such exposures.</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:-14.2pt;"><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 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%;">Review the policies and
systems for the assessment, control and management of the Group&#8217;s technological
infrastructures and risks, including the response and recovery plans in the
event of cyber-attacks.<a name="_cp_text_1_1014"></a></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:-14.2pt;"><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 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%;">Be informed of business
continuity plans in matters of technology and technological infrastructure.<a name="_cp_text_1_1020"></a></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:-14.2pt;"><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 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%;">Be informed, as appropriate, of:</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:88.9pt;margin-right:0cm;margin-top:0cm;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;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;</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;">compliance risks associated with information technologies; </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:88.75pt;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;">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;</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;">procedures established to identify, assess, oversee, manage and
mitigate these 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:-14.2pt;"><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 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%;">Be informed of any relevant
events that may have occurred with regard to cybersecurity, i.e. events that,
either in isolation or as a whole, may cause significant impact or harm to the
Group&#8217;s equity, results or reputation. In any case, such events will be
communicated, as soon as they are identified, to the Chair of the Committee.</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:-14.2pt;"><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 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%;">Be informed, with the
frequency required by the head of the Technological Security area, of the
activities carried out thereby, as well as of any incidents that may arise.</font></font></p>

<p style="border:none;margin:0cm;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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">- Monitoring the
Technology Strategy:</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:-14.2pt;"><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: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 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%;">Be informed, as appropriate,
of the technology strategy and trends that may affect the Group&#8217;s strategic
plans, including the monitoring of general 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:-14.2pt;"><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 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%;">Be informed, as appropriate,
of the metrics established by the Group for the management and control in the
technological field, including the Group&#8217;s developments and investments in this
field.<a name="_cp_text_1_1041"></a></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:-14.2pt;"><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 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%;">Be informed, as appropriate, of matters related to new
technologies, applications, information systems and best practices that may
affect the Group&#8217;s technology strategy or plans.<a name="_cp_text_1_1043"></a></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:-14.2pt;"><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 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%;">Be informed, as appropriate,
of the main policies, strategic projects and plans defined by the Engineering
area.<a name="_cp_text_1_1048"></a></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:-14.2pt;"><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 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%;">Report to the Board of
Directors and, where appropriate, to the Executive Committee, on information
technology-related matters falling within its remit. </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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">For
a better performance of its functions, appropriate coordination systems will be
established between the Technology and Cybersecurity Committee and the Audit
Committee to facilitate:</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:55.9pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><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;">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;</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;">That the Committee is aware of the conclusions of the work carried
out by the Internal Audit area in technology and cybersecurity matters.</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:55.9pt;margin-right:0cm;margin-top:0cm;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;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;</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;">That the Audit Committee is informed of the information technology
related systems and processes that are related to or affect the Group&#8217;s
internal control systems and other matters within its remit.</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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The Committee will meet whenever it is convened
by its Chair, who is empowered to call the Committee meetings and to set their
agenda. The Committee will endeavor to establish an annual calendar of
meetings, considering the amount of time to be devoted to its different tasks.
In 2019 it held six (6) meetings.</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;"><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; </font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US 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,
2019, we had 126,973 employees. Approximately 89% 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>


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<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;page-break-after:avoid;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 December 31, 2019</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;page-break-after:avoid;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:center;"><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>
 </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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">24,921</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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">5,362</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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">30,283</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;page-break-after:avoid;"><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 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">120</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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">120</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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><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=19% style="height:8.65pt;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;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">71</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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">49</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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">51</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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><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=19% style="height:8.65pt;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;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">1</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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">116</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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">116</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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">458</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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">458</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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">23</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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#8220;The Netherlands&#8221; (Holland) </font></font></p>
  </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;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">247</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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">247</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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">1267</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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">1,267</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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><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=15% style="height:8.65pt;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;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">20,759</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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">20,759</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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">112</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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">112</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;page-break-after:avoid;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">25,230</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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">22,848</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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">5,476</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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">53,554</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;page-break-after:avoid;"><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 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">148</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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">10,677</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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">-</font></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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">10,825</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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">6,402</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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">6,402</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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">6,899</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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">6,899</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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">2,532</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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">2,532</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;page-break-after:avoid;"><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=15% style="height:8.65pt;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;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">37,724</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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">81</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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">37,805</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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">576</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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">576</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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">428</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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">428</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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">424</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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">424</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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">956</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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">956</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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">6,420</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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">6,420</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;page-break-after:avoid;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">61,937</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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">511</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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">62,449</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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">26</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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">1</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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">29</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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">11</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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:9.0pt;">11</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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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=center style="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">142</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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">1</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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><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=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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:9.0pt;">145</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" 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" style="font-size:9.0pt;">25,521</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" style="font-size:9.0pt;">95,463</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" style="font-size:9.0pt;">5,989</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" style="font-size:9.0pt;">126,973</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">198</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</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;"><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: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;">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;page-break-after:avoid;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 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;page-break-after:avoid;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:center;"><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>
 </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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><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 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#8220;The Netherlands&#8221; (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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><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=15% style="height:8.65pt;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;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><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=17% style="height:8.65pt;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;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;"><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 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><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=15% style="height:8.65pt;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;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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="margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><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=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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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" 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" 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" 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" 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" 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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">199</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_205"></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;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;">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;page-break-after:avoid;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 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;page-break-after:avoid;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:center;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:center;"><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>
 </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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><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 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">&#8220;The Netherlands&#8221; (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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><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=15% style="height:8.65pt;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;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;"><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 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><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=15% style="height:8.65pt;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;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><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=23% style="height:8.65pt;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;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><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=19% style="height:8.65pt;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;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:27.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><font face="Times New Roman,serif" 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;page-break-after:avoid;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><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=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;page-break-after:avoid;text-align:right;text-indent:18.0pt;"><font style="border:none;"><b><font face="Times New Roman,serif" 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" 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" 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" 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" 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" style="font-size:9.0pt;">131,856</font></b></font></p>
  </td>
 </tr>
</table></div>



<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;">The number of employees increased by 1.1% during 2019,
while it decreased by 4.7% in 2018. The decrease in the number of employees in
2018 was mainly attributable to divestitures and restructuring plans.</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. This agreement became effective as of January 1,
2015 and was due to expire on December 31, 2018. However, it was subsequently
extended until December 31, 2019. As of the date of this Annual Report, a new
collective bargaining agreement is being negotiated among the Spanish Banking
Association (AEB) and trade unions.</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">200</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_206"></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-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, 2019, 2018 and 2017, we had 1,212,
1,305 and 1,300 temporary employees in our Spanish offices, 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><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 government. See Note
2.2.12 and Note 25 to our Consolidated Financial Statements.</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" 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;</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US 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;"> February 27, 2020, 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=EN-US style="font-size:8.0pt;">Nam</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" style="font-size:8.0pt;">e</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" 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" 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" 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" 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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">775,359</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">775,359</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.012</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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">326,855</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">326,855</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.004</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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Tom&#225;s
  Alfaro Drake</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Jaime
  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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Bel&#233;n
  Garijo L&#243;pez</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Jos&#233; Manuel
  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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">147,886</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">147,886</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.002</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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;"><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;">Carlos
  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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Lourdes
  M&#225;iz Carro</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Jos&#233;
  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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Ana
  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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Juan
  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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">Jan 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" lang=EN-US 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" lang=EN-US 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;">&nbsp;</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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">1,414,518</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" lang=EN-US style="font-size:10.0pt;">-</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" lang=EN-US style="font-size:10.0pt;">1,414,518</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" lang=EN-US style="font-size:10.0pt;">0.021</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 31,326 and 10,000 shares
in the form of ADSs, respectively.</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">201</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_207"></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;">BBVA has not granted options on its shares to
any members of its administrative, supervisory or management bodies.</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</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> February 27, 2020 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" 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" 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" 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" 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" 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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">137,955</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">137,955</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;"><font style="border:none;"><font face="Times New Roman,serif" 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">101,932</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">101,932</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Pello
  Belausteguigoitia Mateache</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">94,273</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">94,273</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">49,184</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">49,184</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">30,572</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">30,572</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Ana
  Fern&#225;ndez Manrique</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">91,813</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">105,031</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">196,844</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">111,326</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">111,326</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.002</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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">185,384</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">185,384</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Joaqu&#237;n
  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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">75,441</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">75,441</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Ricardo
  Mart&#237;n Manj&#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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">50,050</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">8,026</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">58,076</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;"><font style="border:none;"><font face="Times New Roman,serif" 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">89,415</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">89,415</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">134,698</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">134,698</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">131,699</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">131,699</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;"><font style="border:none;"><font face="Times New Roman,serif" 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">464,315</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">464,526</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;text-align:right;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">0.007</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" style="font-size:10.0pt;">Rafael Salinas Mart&#237;nez de Lecea</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=EN-US style="font-size:10.0pt;">271,362</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=EN-US style="font-size:10.0pt;">20,341</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=EN-US style="font-size:10.0pt;">291,703</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=EN-US style="font-size:10.0pt;">0.004</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" 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=EN-US style="font-size:10.0pt;">2,019,419</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=EN-US style="font-size:10.0pt;">133,609</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=EN-US style="font-size:10.0pt;">2,153,028</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=EN-US style="font-size:10.0pt;">0.032</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 February 27, 2020 a total of 19,161
employees (excluding the members of the Senior Management and executive
directors) owned 58,104,820 shares, which represented 0.87% of our capital
stock.</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" lang=EN-US 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 5, 2020, Blackrock, Inc. reported to
the SEC that it beneficially owned 6.3% of BBVA&#8217;s common stock.</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 February 3, 2020, Norges Bank reported that
it indirectly had voting power over 3.066% of BBVA&#8217;s common stock, of which
3.051% are voting rights attributed to shares, and 0.015%, voting rights
through 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:17.85pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">As of February 24, 2020, 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
February 24, 2020, there were 864,696 registered holders of BBVA&#8217;s shares, with
an aggregate of 6,667,886,580 shares, of which 694 shareholders with registered
addresses in the United States held a total of 1,309,903,524 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: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" 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-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 subsidiaries engage, on a regular and
routine basis, in a number of customary transactions with other BBVA
subsidiaries, including overnight call deposits, time deposits, foreign
exchange purchases and sales, derivative transactions (such as forward
purchases and sales), money market fund transfers, letters of credit for
imports and exports, financial guarantees and service level agreements. </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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">202</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_208"></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;">They also engage in
other similar transactions within the scope of the ordinary course of the
banking business, such as loans and other banking services, with our
shareholders, employees, associates and family members of all the above and
other BBVA non-banking subsidiaries or affiliates. These transactions are 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 do 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: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;">For information on these transactions as of December 31,
2019, 2018 and 2017, see Note 53 to our Consolidated Financial Statements.</font></font></p>

<p style="border:none;margin:0cm;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" lang=EN-US style="font-size:10.0pt;">C.&#160;&#160;&#160;&#160;&#160; 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>

<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" lang=EN-US style="font-size:10.0pt;">ITEM
8.&#160;&#160;&#160;&#160; FINANCIAL 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-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 2015 to 2019. 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 title="F_20F_SMSR_8.A.1" 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">Per Share</font></b></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;"> &nbsp;</font></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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">First Interim</font></u></b></font><font color=black style="border:none;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;"> &nbsp;</font></u></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" lang=EN-US style="font-size:9.0pt;">Second Interim</font></u></b></font><font color=black style="border:none;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;"> &nbsp;</font></u></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" lang=EN-US style="font-size:9.0pt;">Third Interim</font></u></b></font><font color=black style="border:none;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;"> &nbsp;</font></u></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" lang=EN-US style="font-size:9.0pt;">Final</font></u></b></font><font color=black style="border:none;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;"> &nbsp;</font></u></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" lang=EN-US style="font-size:9.0pt;">Total</font></u></b></font><font color=black style="border:none;"><u><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;"> &nbsp;</font></u></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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;text-decoration:none;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=14% 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" lang=EN-US style="font-size:9.0pt;">2015</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#8364; 0.080</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">$ 0.087</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(*)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(*)</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#8364; 0.080</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" lang=EN-US style="font-size:9.0pt;">$ 0.087</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">(*)</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">(*)</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#8364; 0.160</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" lang=EN-US style="font-size:9.0pt;">$ 0.174</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=14% 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" lang=EN-US style="font-size:9.0pt;">2016</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#8364; 0.080</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">$ 0.084</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(*)</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">(*)</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#8364; 0.080</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" lang=EN-US style="font-size:9.0pt;">$ 0.084</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">(*)</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">(*)</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#8364; 0.160</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" lang=EN-US style="font-size:9.0pt;">$ 0.169</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=top width=14% 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" lang=EN-US style="font-size:9.0pt;">2017</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" lang=EN-US style="font-size:9.0pt;">&#8364; 0.090</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" lang=EN-US style="font-size:9.0pt;">$ 0.108</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=EN-US style="font-size:9.0pt;">-</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=EN-US style="font-size:9.0pt;">-</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=EN-US 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=center style="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-US 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=center style="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-US style="font-size:9.0pt;">&#8364; 0.150</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" lang=EN-US style="font-size:9.0pt;">$ 0.185</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" lang=EN-US style="font-size:9.0pt;">&#8364; 0.240</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" lang=EN-US style="font-size:9.0pt;">$ 0.293</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=14% 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" lang=EN-US style="font-size:9.0pt;">2018</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#8364; 0.100</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">$ 0.115</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">&#8364; 0.160</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" lang=EN-US style="font-size:9.0pt;">$ 0.183</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#8364; 0.260</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" lang=EN-US style="font-size:9.0pt;">$ 0.298</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=14% 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" lang=EN-US style="font-size:9.0pt;">2019</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#8364; 0.100</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">$ 0.112</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&#8364; 0.160</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">$ 0.180</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% 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" lang=EN-US style="font-size:9.0pt;">&#8364; 0.260</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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" lang=EN-US style="font-size:9.0pt;">$ 0.292</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-14.2pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(*)&#160;&#160; In execution of the 2015 and 2016
&#8220;Dividend Option&#8221; schemes 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></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;, which took place during
April 2017. 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
9, 2020, the final dividend for 2019 will be paid.</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. &#8220;Final&#8221; dividends for a year are proposed by the Board of
Directors to be approved by the annual general shareholders&#8217; meeting following
the end of the year to which they relate. Additionally, the Board of Directors
may approve the payment of &#8220;interim&#8221; dividends on account of the year&#8217;s end
profits following the fulfilment of certain requirements under Spanish law,
which payment is endorsed by the annual general shareholders&#8217; meeting. Interim
and final dividends are payable to shareholders of record on the record date
for the dividend payment. Any unclaimed cash dividends revert to BBVA five
years after declaration</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;">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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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 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></font><font color=black style="border:none;"><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><font color=black style="border:none;"><i><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> and &#8220;Item 5. Operating and
Financial Review and Prospects&#8212;Liquidity and Capital Resources&#8212;Capital&#8221;. </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;">Under applicable capital adequacy
requirements, we estimate that as of December&nbsp;31, 2019, BBVA had
approximately &#8364;11.5 billion of reserves in excess of applicable capital and
reserve requirements (based on a 12.77% 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;">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;">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 adversely impact the Group. See&nbsp;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item
3. Key Information&#8212;Risk Factors&#8212;Legal, Regulatory, Tax and Reporting
Risks&#8212;Legal Risks&#8212;The Group is party to a number of legal and regulatory
actions and proceedings&#8221;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">,&nbsp;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 3. Key Information&#8212;Risk
Factors&#8212;Legal, Regulatory, Tax and Reporting Risks&#8212;The Spanish judicial
authorities are carrying out a criminal investigation relating to possible bribery,
revelation of secrets and corruption by the Bank&#8221;</font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;and&nbsp;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Item 3.
Key Information&#8212;Risk Factors&#8212;Internal Control Risks&#8212;Compliance Risks&#8212;The Group
is exposed to compliance risks which may have a material adverse effect on the
Group&#180;s business, financial condition and results of operations, and may damage
the Group&#180;s reputation&#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:12.0pt;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 business,
financial position, results of operations or liquidity.</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:24.4pt;margin-right:0cm;margin-top:6.0pt;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;">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: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" lang=EN-US 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;">Apart from its quotation on the four Spanish
Exchanges, BBVA is also currently included in 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.</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;">BBVA&#180;s 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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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;">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, 2019, 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 11.68%, 2.03% and
6.64% 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, 2019 through
December&nbsp;31, 2019 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;">0.138</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">% and 0.746%,
calculated on a daily basis. As of January 31, 2020, 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;">0.222</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;margin-right:0cm;margin-top:6.0pt;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:10.0pt;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 2019, 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:10.0pt;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><a name="page_244"></a><a name="page_244_bclEnd"></a></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:10.0pt;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 and
which was further amended in September 2018 with respect to the minimum
variation of share prices. 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:10.0pt;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:10.0pt;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 previously agreed and executed out of the
order book) are also from 9:00 a.m. to 5:30 p.m.</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;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 weighted average price and
closing price for the day and 5% below the lower of the weighted 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; (iii) the purchase and the sale shall be the result of
only one order; and (iv) 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:53.85pt;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:12.0pt;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=#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;line-height:normal;">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:54.0pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:12.0pt;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=#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;line-height:normal;">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:54.0pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:12.0pt;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=#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;line-height:normal;">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:54.0pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:12.0pt;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=#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;line-height:normal;">the Sociedad de Bolsas finds other
justifiable cause.</font></font></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:10.0pt;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;">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:10.0pt;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;">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>

<p style="background:white;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=#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:10.0pt;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:10.0pt;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:10.0pt;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:10.0pt;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>


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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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">206</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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>


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<p style="background:white;border:none;margin:0cm;margin-bottom:10.0pt;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:10.0pt;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:10.0pt;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:10.0pt;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:10.0pt;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:10.0pt;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:10.0pt;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. On
September 23, 2019, Iberclear made public that it had been granted the
authorization to continue providing services as a Central Securities
Depositary.</font></font><a name="page_246"></a><a name="page_246_bclEnd"></a></p>

<p style="background:white;border:none;margin:0cm;margin-bottom:10.0pt;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;">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 &#8220;</font><i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">entidad participante</font></i><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;">&#8221;),
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:53.85pt;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:12.0pt;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=#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;line-height:normal;">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:54.0pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:12.0pt;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=#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;line-height:normal;">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:10.0pt;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:10.0pt;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;">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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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;margin-right:0cm;margin-top:0cm;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:10.0pt;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:2.0cm;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:12.0pt;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 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;line-height:normal;">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;line-height:normal;">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;line-height:normal;"> or &#8220;</font><b><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;line-height:normal;">CNMV</font></b><font color=#222222 face="Times New Roman,serif" lang=EN-US style="background:white;font-size:10.0pt;line-height:normal;">&#8221;), to supervise the
securities markets;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:2.0cm;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:12.0pt;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 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;line-height:normal;">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:2.0cm;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:12.0pt;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 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;line-height:normal;">required stock exchange members to
be corporate entities;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:2.0cm;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:12.0pt;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 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;line-height:normal;">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:2.0cm;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:12.0pt;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 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;line-height:normal;">established the legal framework for
the Automated Quotation System;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:2.0cm;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:12.0pt;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 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;line-height:normal;">exempted the sale of securities
from transfer and value added taxes;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:2.0cm;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:12.0pt;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 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;line-height:normal;">deregulated brokerage commissions;
and</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:2.0cm;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:12.0pt;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 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;line-height:normal;">provided for transfer of shares by
book-entry or by delivery of evidence of title.</font></font><a name="page_247"></a><a name="page_247_bclEnd"></a></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 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 the MiFID II rules that became effective on January 3,
2018.</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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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: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 new
Prospectus Regulation (EU) 2017/1129 of the European Parliament and of the
Council, of October 14, which became effective on July 21, 2019, aims to
achieve greater harmonization of prospectus rules throughout the European
Union. Such rules are applicable to issuers which offer debt or equity securities
to the public or which seek admission to trading on a regulated market in the
EU.</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 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 (MiFID II) 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 became applicable on January 3, 2018,
affecting the Spanish securities market legislation, markets and
infrastructures and 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: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;">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>

<p style="background:white;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;text-indent:8.5pt;"><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: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;">Trading by
subsidiaries in their parent companies shares is restricted by the Corporate
Enterprises Act.</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;">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;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:8.5pt;"><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 (FTT), 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. While there is no assurance that
the bill will be approved, 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;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:8.5pt;"><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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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 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;&nbsp;</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;">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>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:18.0pt;"><a name="page_249"></a><a name="page_249_bclEnd"></a><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: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;">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: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;">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:2.0cm;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:12.0pt;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 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;line-height:normal;">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:2.0cm;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:12.0pt;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 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;line-height:normal;">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:2.0cm;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:12.0pt;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 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;line-height:normal;">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:0cm;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;">Organic Law 1/2019, of February 20, modifies,
among other laws and regulations, the Spanish Criminal Code in order to
implement in Spain Directive 2014/57/UE regarding applicable criminal sanctions
related to market abuse, complementing the MAR 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;">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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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;">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:6.0pt;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.</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:6.0pt;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;">C.&#160;&#160;&#160;&#160;&#160; 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:6.0pt;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;">D.&#160;&#160;&#160;&#160; &#160;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:6.0pt;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;">E.&#160;&#160;&#160;&#160;&#160; 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>

<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 style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">F.&#160;&#160;&#160;&#160;&#160; 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:6.0pt;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
10.</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;">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; </font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Memorandum</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> and Articles of Association</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;">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-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;">Registry and Company&#8217;s
Objects and Purposes</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;">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-A, 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-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;">Certain Powers of the Board
of Directors</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;">In general, provisions regarding directors are contained in
our bylaws. Also, our Board Regulations govern the internal procedures and the
operation of the Board of Directors and its committees and directors&#8217; rights
and duties as described in their charter. The referred Board Regulations
establishes that directors must refrain from participating in deliberations and
votes on resolutions or decisions in which they or a related party may have a
direct or indirect conflict of interest 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;.&nbsp;</font></i></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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">211</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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>


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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: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;.&nbsp;</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><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-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;">Our Bylaws authorize us to issue 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-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;">The Company may issue shares that confer some privilege
over ordinary shares under legally established terms and conditions, complying
with the formalities prescribed for amending our bylaws.</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: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 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 issuance 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 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>

<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;">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. 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. If there are distributable
earnings, the Company is obliged to agree to distribute the minimum divided
mentioned above. If there are no distributable earnings or they are insufficient,
the unpaid part of the minimum dividend will accumulate or not, pursuant to the
terms agreed by the general shareholders&#8217; meeting at the time of deciding to
issue the shares. Holders of non-voting shares may exercise their pre-emptive
subscription right should the general shareholders&#8217; meeting and/or the Board of
Directors so resolve at the time of issuing shares or share-convertible
debentures. Recovery of voting rights must be resolved at the same time. </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;">Certain Provisions Regarding
Shareholders Rights</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;">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-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;">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 corporate 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.</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:28.05pt;"><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-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;">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-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;">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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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;">Shareholders&#8217;
Meetings</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;">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-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;">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-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;">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>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;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;">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-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;">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-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;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;">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-bottom:6.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-21.25pt;"><font color=#222222 face=Symbol style="border:none;"><font color=#222222 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=#222222 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=#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;line-height:normal;">debt issuances;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-21.25pt;"><font color=#222222 face=Symbol style="border:none;"><font color=#222222 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=#222222 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=#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;line-height:normal;">share capital increases or
decreases;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-21.25pt;"><font color=#222222 face=Symbol style="border:none;"><font color=#222222 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=#222222 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=#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;line-height:normal;">the exclusion or limitation of the
pre-emptive subscription rights over new shares;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-21.25pt;"><font color=#222222 face=Symbol style="border:none;"><font color=#222222 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=#222222 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=#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;line-height:normal;">transformation, merger of BBVA or
spin-off and global assignment of assets and liabilities;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-21.25pt;"><font color=#222222 face=Symbol style="border:none;"><font color=#222222 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=#222222 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=#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;line-height:normal;">the off-shoring of domicile, and</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-21.25pt;"><font color=#222222 face=Symbol style="border:none;"><font color=#222222 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=#222222 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=#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;line-height:normal;">any other amendment to the Bylaws.</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: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-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;">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-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;">Restrictions on the Ownership
of Shares</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;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;">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;&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>


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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;">Restrictions
on Foreign Investments</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;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;">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-align:justify;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>

<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 style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;Material Contracts</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><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-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 29, 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
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; 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. 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-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 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-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 Joint Venture Agreement 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-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 the date of this Annual Report, the
transfer of several REOs remains subject to the fulfilment of certain
conditions:</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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160;(i)&nbsp;</font></font><font style="border:none;"><font face="Times New Roman,serif" 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 (viviendas de
protecci&#243;n p&#250;blica) (this condition has to be fulfilled by April 10, 2020); 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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(ii)</font></font><font style="border:none;"><font face="Times New Roman,serif" 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-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;">On October 10, 2018 the parties executed the
following agreements (among others):</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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">(i)</font></font><font style="border:none;"><font face="Times New Roman,serif" 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-bottom:10.0pt;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><font style="border:none;"><font face="Times New Roman,serif" 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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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:35.7pt;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><font style="border:none;"><font face="Times New Roman,serif" 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-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><font style="border:none;"><font face="Times New Roman,serif" 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>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:24.4pt;margin-right:0cm;margin-top:6.0pt;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;line-height:150%;">D.&#160;&#160;
Exchange Controls </font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;text-indent:28.0pt;"><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-align:justify;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 strategic industries.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;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;">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 Affairs and Digital
Transformation for administrative statistical 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-align:justify;text-indent:28.05pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Moreover, investments
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-align:justify;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
activities 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:0cm;margin-bottom:10.0pt;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-align:justify;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-align:justify;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-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 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-align:justify;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:6.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-21.25pt;"><font color=#222222 face=Symbol style="border:none;"><font color=#222222 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=#222222 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=#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;line-height:normal;">the acquired shares will have no
voting rights;</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:2.0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-21.25pt;"><font color=#222222 face=Symbol style="border:none;"><font color=#222222 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=#222222 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=#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;line-height:normal;">if considered appropriate, the
target bank may be taken over or its directors replaced; and</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-21.25pt;"><font color=#222222 face=Symbol style="border:none;"><font color=#222222 face=Symbol lang=EN-US style="font-size:10.0pt;line-height:normal;">&#183;</font><font color=#222222 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=#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;line-height:normal;">the sanctions established in Title
IV of Law 10/2014.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;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;">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:0cm;margin-bottom:10.0pt;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:0cm;margin-bottom:10.0pt;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;">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:24.4pt;margin-right:0cm;margin-top:6.0pt;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;">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, 10% 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: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;">(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:10.0pt;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:10.0pt;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:10.0pt;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: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;">(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: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;">(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: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;">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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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:6.0pt;page-break-after:avoid;text-align:justify;text-indent:17.85pt;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Taxation of
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;">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>

<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;">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;IRS&#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-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;">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-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;">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-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;">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:0cm;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:0cm;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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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;">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>

<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: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;">&#8226;&#160;&#160;&#160; certain financial institutions;</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; 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:10.0pt;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>


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<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 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: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 liable for the alternative minimum tax;</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; tax-exempt entities;</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; 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:10.0pt;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>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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 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>

<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 and subject to applicable limitations, 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, including those 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
2019 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: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:6.0pt;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;">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:6.0pt;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;">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:6.0pt;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;">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:6.0pt;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;">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:6.0pt;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
11.&#160;&#160;&#160;&#160;&#160; QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</font></b></font></h1>

<p style="-sec-extract:summary;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;">For quantitative and
qualitative disclosures about market risk, see Notes 7.2 and 7.3 to our
Consolidated Financial Statements.</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" lang=EN-US style="font-size:10.0pt;">ITEM 12.</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;">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.&#160;&#160;&#160;&#160;&#160; 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.&#160;&#160;&#160;&#160;&#160; 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>


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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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">221</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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>


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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;">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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.5pt;">Up to $5.00 for each 100 ADSs (or portion
  thereof) 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;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.5pt;">Not
  applicable</font></font></p>
  <p style="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:8.5pt;">&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;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.5pt;">Up to
  $5.00 for each 100 ADSs (or portion thereof) surrendered (charged to person
  surrendering or to person to whom withdrawn securities are being delivered)</font></font></p>
  <p style="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:8.5pt;">&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;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.5pt;">Not
  applicable</font></font></p>
  <p style="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:8.5pt;">&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;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.5pt;">Not
  applicable</font></font></p>
  <p style="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:8.5pt;">&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;page-break-after:avoid;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;page-break-after:avoid;text-indent:-15.8pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:8.5pt;">&#183;</font><font face="Times New Roman" lang=EN-US 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" lang=EN-US 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;page-break-after:avoid;text-indent:-15.8pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:8.5pt;">&#183;</font><font face="Times New Roman" lang=EN-US 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" lang=EN-US 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;page-break-after:avoid;text-indent:-15.8pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:8.5pt;">&#183;</font><font face="Times New Roman" lang=EN-US 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" lang=EN-US 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;page-break-after:avoid;text-indent:-15.8pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:8.5pt;">&#183;</font><font face="Times New Roman" lang=EN-US 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" lang=EN-US 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;page-break-after:avoid;text-indent:0cm;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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>


<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 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, 2019, the Depositary reimbursed us $608,280 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 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 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=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" lang=EN-US 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" lang=EN-US style="font-size:8.0pt;line-height:9.0pt;">Amount Reimbursed in the Year
   Ended December 31, 2019</font></b></font></p>
   </div>

   </td>
 </tr>
<tr>
  <td valign=bottom width=84% style="padding:0cm 2.9pt 0cm 2.9pt;">
  <p style="margin-bottom:0cm;margin-left:0cm;margin-right:9.35pt;margin-top:0cm;page-break-after:avoid;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>
  </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;page-break-after:avoid;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;page-break-after:avoid;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">313,102</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;page-break-after:avoid;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">97,587</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;page-break-after:avoid;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">13,061</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;page-break-after:avoid;text-indent:-9.35pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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;page-break-after:avoid;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">180,406</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" lang=EN-US 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" lang=EN-US style="font-size:10.0pt;">4,124</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: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:10.0pt;">PART II</font></b></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" lang=EN-US style="font-size:10.0pt;">ITEM
13.</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;">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>

<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" lang=EN-US style="font-size:10.0pt;">ITEM
14.</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;">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: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" lang=EN-US style="font-size:10.0pt;">ITEM
15.</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;">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, 2019, 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>

<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:0cm;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>


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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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">223</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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: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, 2019, 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, 2019.</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, 2019 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>


</DIV>
<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;">&nbsp;</font></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:center;"><font face="Times New Roman,serif" style="border:none;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;">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:0cm;page-break-after:avoid;text-indent:14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;">To the Shareholders and
Board of Directors</font></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=ES style="font-size:10.0pt;line-height:12.0pt;">Banco Bilbao Vizcaya Argentaria, S.A.:</font></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:14.2pt;"><font face="Times New Roman,serif" style="border:none;"><i><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;">Opinion on
Internal Control Over Financial Reporting </font></i></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;">We have audited Banco Bilbao Vizcaya Argentaria, S.A. and
subsidiaries&#8217; (the Company) internal control over financial reporting as of
December&nbsp;31, 2019, based on criteria established in</font><i><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;"> Internal Control &#8211;
Integrated Framework (2013)</font></i><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;"> 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&nbsp;31, 2019, based on criteria established in </font><i><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;">Internal
Control &#8211; Integrated Framework (2013)</font></i><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;"> issued by the Committee of Sponsoring
Organizations of the Treadway Commission.</font></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;">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&nbsp;31, 2019, 2018
and 2017, the related consolidated statements of income, recognized income and
expense, changes in equity, and cash flows for the years then ended, and the
related notes included on pages F-5 through F-169 (collectively, the
consolidated financial statements), and our report dated February 28, 2020
expressed an unqualified opinion on those consolidated financial statements.</font></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:14.2pt;"><font face="Times New Roman,serif" style="border:none;"><i><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;">Basis for
Opinion </font></i></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;">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 </font><i><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;">Management&#8217;s Report on Internal Control Over Financial
Reporting</font></i><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;">. 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-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;">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-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:14.2pt;"><font face="Times New Roman,serif" style="border:none;"><i><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;">Definition
and Limitations of Internal Control Over Financial Reporting </font></i></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;">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)&nbsp;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)&nbsp;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)&nbsp;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-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:14.2pt;"><font face="Times New Roman,serif" style="border:none;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;">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:5.0pt;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: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-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:14.2pt;"><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:12.0pt;">Madrid, Spain</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-indent:14.2pt;"><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:12.0pt;">February 28, 2020</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">225</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_231"></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:0cm;margin-bottom:12.0pt;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" 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:6.0pt;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
16A.</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;">AUDIT COMMITTEE FINANCIAL EXPERT </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 Regulations of
the Audit Committee establish that committee members will be appointed by the
Board of Directors, seeking to ensure that they possess the necessary
dedication, skills and experience to carry out their duties. In any event, at
least one member will be appointed taking into account his or her knowledge and
experience in accounting, auditing or both. As a whole, the Committee members
will possess relevant technical knowledge in the financial 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;">We have determined
that Mr. Jos&#233; Miguel Andr&#233;s Torrecillas, who was the Chairman of the Audit
Committee until April 2019, Mr. Jaime F&#233;lix Caruana Lacorte, current Chairman
of the Audit Committee, and the Audit Committee members Mrs. Bel&#233;n Garijo L&#243;pez
and Mrs. Ana Cristina Peralta Moreno are &#8220;audit committee financial experts&#8221; as
such term is defined by the SEC. </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;">Mr. Jos&#233; Miguel
Andr&#233;s Torrecillas, Mr. Jaime F&#233;lix Caruana Lacorte, Mrs. Bel&#233;n Garijo L&#243;pez
and Mrs. Ana Cristina Peralta Moreno are independent within the meaning of Rule
10A-3 under the Exchange Act.</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" lang=EN-US style="font-size:10.0pt;">ITEM
16B.</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;">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;"><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">ITEM
16C.</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;">PRINCIPAL ACCOUNTANT FEES AND SERVICES</font></b></font></h1>

<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 provides information on the aggregate fees paid and
payable to 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 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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 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" lang=EN-US style="font-size:9.0pt;">Year
  ended December 31,</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:1.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></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;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Services Rendered</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:1.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </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" lang=EN-US style="font-size:9.0pt;">2019</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:1.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </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" lang=EN-US style="font-size:9.0pt;">2018</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:1.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></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" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 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" lang=EN-US 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:0cm;margin-bottom:.0001pt;margin-left:12.0pt;page-break-after:avoid;text-indent:-12.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Audit
  Fees</font></font><sup><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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:0cm;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" lang=EN-US style="font-size:9.0pt;">28.7</font></font></p>
  </td>
 <td nowrap width=15% style="height:5.65pt;padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin:0cm;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" lang=EN-US style="font-size:9.0pt;">26.8</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:0cm;margin-bottom:.0001pt;margin-left:12.0pt;page-break-after:avoid;text-indent:-12.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Audit-Related
  Fees</font></font><sup><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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:0cm;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" lang=EN-US style="font-size:9.0pt;">1.3</font></font></p>
  </td>
 <td nowrap width=15% style="height:5.65pt;padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin:0cm;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" lang=EN-US style="font-size:9.0pt;">1.1</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:0cm;margin-bottom:.0001pt;margin-left:12.0pt;page-break-after:avoid;text-indent:-12.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">Tax
  Fees</font></font><sup><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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:0cm;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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:5.65pt;padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin:0cm;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" lang=EN-US 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:0cm;margin-bottom:.0001pt;margin-left:12.0pt;page-break-after:avoid;text-indent:-12.0pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">All
  Other Fees</font></font><sup><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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:0cm;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" lang=EN-US style="font-size:9.0pt;">-</font></font></p>
  </td>
 <td 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:0cm;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" lang=EN-US style="font-size:9.0pt;">-</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: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;">Total</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="background:white;height:12.85pt;padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin:0cm;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" lang=EN-US style="font-size:9.0pt;">30.0</font></font></p>
  </td>
 <td nowrap valign=bottom width=15% style="height:12.85pt;padding:0cm 0cm 0cm 7.2pt;">
  <p align=right style="border:none;margin:0cm;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" lang=EN-US style="font-size:9.0pt;">27.9</font></font></p>
  </td>
 </tr>
</table>


</div>


<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:21.3pt;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:8.0pt;">(1)&nbsp;&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;">Aggregate fees paid and payable <a name="_cp_text_1_1014_0"></a>by BBVA for professional services rendered by our
principal accountants and&nbsp;its worldwide affiliates for the audit of BBVA&#8217;s
annual financial statements, review of interim financial statements, SEC
regulatory filings or services that are normally provided by our principal
accountants&nbsp;and&nbsp;its worldwide affiliates in connection with statutory
and regulatory filings or engagements for <a name="_cp_text_1_1016_0"></a>the
relevant <a name="_cp_text_1_1018_0"></a>fiscal year.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:21.3pt;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:8.0pt;">(2)&nbsp;&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;">Aggregate fees paid and payable <a name="_cp_text_1_1020_0"></a>by BBVA for assurance and related services by our
principal accountants&nbsp; and&nbsp; 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.<a name="_cp_text_1_1021"></a> This includes work related to the corporate social
responsibility report of certain Group entities and certain regulatory work
rendered by the independent auditor.&#160;&#160;&#160; </font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:21.3pt;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:8.0pt;">(3)&nbsp;&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;">Aggregate fees paid and payable <a name="_cp_text_1_1023"></a>by BBVA for professional services rendered by our
principal accountants and its worldwide affiliates for tax compliance, tax
advice, and tax planning.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:21.25pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:8.0pt;">(4)&nbsp;&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;">Aggregate fees paid
and payable <a name="_cp_text_1_1026_0"></a>by BBVA for products and services
provided by our principal accountants and its worldwide affiliates other than
the services reported in (1), (2) and (3) above. Services in this category
consisted primarily of consultancy and implementation of new regulation</font></font><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">.</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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">226</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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>


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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
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 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 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:57.25pt;margin-right:0cm;margin-top:0cm;text-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.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&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:57.25pt;margin-right:0cm;margin-top:0cm;text-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.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&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
Committee.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:57.25pt;margin-right:0cm;margin-top:0cm;text-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.</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&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 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 Committee of such decision at the Committee&#8217;s next
meeting.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:57.25pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><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;</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 Audit Committee.</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" lang=EN-US style="font-size:10.0pt;">ITEM
16D.</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;">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;">&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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">227</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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>


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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" lang=EN-US style="font-size:10.0pt;">ITEM 16E.</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;&#160; &nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">PURCHASES
OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS</font></b></font></h1>

<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:10.0pt;">The below table shows the
purchases of BBVA shares made by or on behalf of BBVA or any affiliated
purchaser during 2019. These purchases were made in open-market transactions
and none of the shares were purchased under a publicly announced plan or
program. </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 rowspan=3 width=13% 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;page-break-after:avoid;"><font color=black style="border:none;"><b><font color=black face="Times New Roman,serif" style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td rowspan=3 width=14% 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;page-break-after:avoid;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 Number of Ordinary Shares Purchased</font></b></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 rowspan=3 width=21% 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;page-break-after:avoid;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;">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" lang=EN-GB style="font-size:8.0pt;"> </font><b><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:8.0pt;">in Euros</font></b></font></p>
  </td>
 <td rowspan=3 width=24% 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;page-break-after:avoid;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 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" lang=EN-GB style="font-size:8.0pt;"> &nbsp;</font></font></p>
  </td>
 <td rowspan=3 width=25% 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;page-break-after:avoid;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;">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 width=13% style="height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">January&nbsp;1
  to January&nbsp;31 </font></font></p>
  </td>
 <td nowrap valign=top width=14% style="background:white;height:24.0pt;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;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">11,011,933</font></font></p>
  </td>
 <td nowrap valign=top width=21% style="background:white;height:24.0pt;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;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">5.04</font></font></p>
  </td>
 <td nowrap valign=top width=24% style="height:24.0pt;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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td nowrap valign=top width=25% style="height:24.0pt;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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td height=32 style="border:none;height:24.0pt;">&nbsp;</td>
 </tr>
<tr style="height:24.0pt;">
  <td width=13% style="height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">February&nbsp;1
  to February&nbsp;28 </font></font></p>
  </td>
 <td nowrap valign=top width=14% style="background:white;height:24.0pt;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;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">28,962,449</font></font></p>
  </td>
 <td nowrap valign=top width=21% style="background:white;height:24.0pt;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;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">5.19</font></font></p>
  </td>
 <td nowrap valign=top width=24% style="height:24.0pt;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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td nowrap valign=top width=25% style="height:24.0pt;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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td height=32 style="border:none;height:24.0pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td width=13% style="height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">March&nbsp;1
  to March&nbsp;31 </font></font></p>
  </td>
 <td nowrap valign=top width=14% style="background:white;height:12.75pt;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;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">24,053,426</font></font></p>
  </td>
 <td nowrap valign=top width=21% style="background:white;height:12.75pt;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;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">5.57</font></font></p>
  </td>
 <td nowrap valign=top width=24% style="height:12.75pt;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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td nowrap valign=top width=25% style="height:12.75pt;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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td width=13% style="height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">April&nbsp;1
  to April&nbsp;30 </font></font></p>
  </td>
 <td nowrap valign=top width=14% style="background:white;height:12.75pt;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;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">15,369,421</font></font></p>
  </td>
 <td nowrap valign=top width=21% style="background:white;height:12.75pt;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;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">5.39</font></font></p>
  </td>
 <td nowrap valign=top width=24% style="height:12.75pt;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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td nowrap valign=top width=25% style="height:12.75pt;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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td width=13% style="height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">May&nbsp;1
  to May&nbsp;31 </font></font></p>
  </td>
 <td nowrap valign=top width=14% style="background:white;height:12.75pt;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;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">13,918,601</font></font></p>
  </td>
 <td nowrap valign=top width=21% style="background:white;height:12.75pt;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;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">5.06</font></font></p>
  </td>
 <td nowrap valign=top width=24% style="height:12.75pt;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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td nowrap valign=top width=25% style="height:12.75pt;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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td width=13% style="height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">June&nbsp;1
  to June&nbsp;30 </font></font></p>
  </td>
 <td nowrap valign=top width=14% style="background:white;height:12.75pt;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;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">18,963,324</font></font></p>
  </td>
 <td nowrap valign=top width=21% style="background:white;height:12.75pt;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;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">5.08</font></font></p>
  </td>
 <td nowrap valign=top width=24% style="height:12.75pt;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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td nowrap valign=top width=25% style="height:12.75pt;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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:12.75pt;">
  <td width=13% style="height:12.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">July&nbsp;1
  to July&nbsp;31 </font></font></p>
  </td>
 <td nowrap valign=top width=14% style="background:white;height:12.75pt;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;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">26,343,229</font></font></p>
  </td>
 <td nowrap valign=top width=21% style="background:white;height:12.75pt;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;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">4.86</font></font></p>
  </td>
 <td nowrap valign=top width=24% style="height:12.75pt;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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td nowrap valign=top width=25% style="height:12.75pt;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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td height=17 style="border:none;height:12.75pt;">&nbsp;</td>
 </tr>
<tr style="height:24.0pt;">
  <td width=13% style="height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">August&nbsp;1
  to August&nbsp;31 </font></font></p>
  </td>
 <td nowrap valign=top width=14% style="background:white;height:24.0pt;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;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">13,492,000</font></font></p>
  </td>
 <td nowrap valign=top width=21% style="background:white;height:24.0pt;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;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">4.36</font></font></p>
  </td>
 <td nowrap valign=top width=24% style="height:24.0pt;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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td nowrap valign=top width=25% style="height:24.0pt;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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td height=32 style="border:none;height:24.0pt;">&nbsp;</td>
 </tr>
<tr style="height:24.0pt;">
  <td width=13% style="height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">September&nbsp;1
  to September&nbsp;30 </font></font></p>
  </td>
 <td nowrap valign=top width=14% style="background:white;height:24.0pt;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;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">19,687,034</font></font></p>
  </td>
 <td nowrap valign=top width=21% style="background:white;height:24.0pt;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;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">4.71</font></font></p>
  </td>
 <td nowrap valign=top width=24% style="height:24.0pt;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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td nowrap valign=top width=25% style="height:24.0pt;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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td height=32 style="border:none;height:24.0pt;">&nbsp;</td>
 </tr>
<tr style="height:24.0pt;">
  <td width=13% style="height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">October&nbsp;1
  to October&nbsp;31 </font></font></p>
  </td>
 <td nowrap valign=top width=14% style="background:white;height:24.0pt;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;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">13,708,084</font></font></p>
  </td>
 <td nowrap valign=top width=21% style="background:white;height:24.0pt;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;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">4.64</font></font></p>
  </td>
 <td nowrap valign=top width=24% style="height:24.0pt;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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td nowrap valign=top width=25% style="height:24.0pt;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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td height=32 style="border:none;height:24.0pt;">&nbsp;</td>
 </tr>
<tr style="height:24.0pt;">
  <td width=13% style="height:24.0pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">November&nbsp;1
  to November&nbsp;30 </font></font></p>
  </td>
 <td nowrap valign=top width=14% style="background:white;height:24.0pt;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;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">8,666,868</font></font></p>
  </td>
 <td nowrap valign=top width=21% style="background:white;height:24.0pt;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;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">4.78</font></font></p>
  </td>
 <td nowrap valign=top width=24% style="height:24.0pt;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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td nowrap valign=top width=25% style="height:24.0pt;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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td height=32 style="border:none;height:24.0pt;">&nbsp;</td>
 </tr>
<tr style="height:24.75pt;">
  <td width=13% style="height:24.75pt;padding:0cm 3.5pt 0cm 3.5pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;text-indent:9.0pt;"><font color=black style="border:none;"><font color=black face="Times New Roman,serif" style="font-size:9.0pt;">December&nbsp;1
  to December&nbsp;31 </font></font></p>
  </td>
 <td nowrap valign=top width=14% style="background:white;height:24.75pt;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;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">20,749,330</font></font></p>
  </td>
 <td nowrap valign=top width=21% style="background:white;height:24.75pt;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;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">5.51</font></font></p>
  </td>
 <td nowrap valign=top width=24% style="height:24.75pt;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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td nowrap valign=top width=25% style="height:24.75pt;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 color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-GB style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td height=33 style="border:none;height:24.75pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td width=13% 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" style="font-size:9.0pt;">Total</font></b></font><font 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=14% 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=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-GB style="font-size:10.0pt;">214,925,699</font></b></font></p>
  </td>
 <td valign=top width=21% 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 style="border:none;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:10.0pt;">5.06</font></b></font></p>
  </td>
 <td nowrap valign=top width=24% 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=EN-GB style="font-size:9.0pt;">&#8212;</font></font></p>
  </td>
 <td nowrap valign=top width=25% 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=EN-GB style="font-size:9.0pt;">&#8212;</font></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: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 2019, we sold
a total of 249,566,201 shares for an average price of &#8364;5.20 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" lang=EN-US style="font-size:10.0pt;">ITEM
16F.</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;&#160; &nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">CHANGE IN REGISTRANT</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8217;</font></b></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US 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:6.0pt;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
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: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 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: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 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>


<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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">228</font><font style="border:none;mso-ansi-language:ES-TRAD;">&nbsp;</font></p>

</DIV>
</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">

<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;">The 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: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, pursuant
to the Spanish Corporate Enterprises Act, listed companies shall have, at
least, an audit committee and an appointments and remuneration committee. This
Act also establishes that such committees (i)&nbsp;shall be composed
exclusively of 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: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;">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>

<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, 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: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;">Pursuant to Article 1
of our Board Regulations, BBVA considers that independent directors are
non-executive directors appointed based on their personal and professional
qualities and who may perform their duties without being constrained by their
relationship with the Company, or its Group, significant shareholders or
managers. Directors may not be considered independent in any of the following
situations:</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)&nbsp;&nbsp; they have been employees or have
been executive directors of Group companies in the last three or five years,
respectively;</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)&nbsp; they receive from the Bank, or from
Group companies, any amount or benefit for any item other than remuneration for
the directorship, except those amounts which are not significant for the
relevant director. For the purposes of this requirement, neither&#160; dividends nor
pension allowances received by directors relating to their previous
professional or employment relations will be taken into account, provided that
said allowances are unconditional in nature and, therefore, the company that
provides said allowances may not suspend, modify or revoke their accrual at its
discretion without breaching its obligations;</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)&nbsp;&nbsp; they are, or have been in the
past three years, a partner of an external auditor or have been responsible
during this time for the auditor's report for the Company or any other company
within its Group;</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)&nbsp;&nbsp; they are executive directors or
senior managers of another company for which an executive director or senior
manager of the Company 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)&nbsp;&nbsp; they have, or have had over the
last year, a significant business relationship with the Bank or any company
within its Group, whether in their own name or as a significant shareholder,
director or senior manager of a company that has, or has had, such a
relationship. Business relationships include supplying goods or services,
including financial services, as well as acting as an adviser 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)&nbsp;&nbsp; they are significant
shareholders, executive directors or senior managers of a company that
receives, or has received in the past three years, donations from the Company
or from its Group. Those who are simply trustees of a foundation receiving
donations will not be considered to be included in this category;</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)&nbsp;&nbsp; they are spouses, partners in a
similar relationship of affection or relatives up to the second degree of 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)&nbsp;&nbsp; they have not been proposed for
appointment or renewal by the Appointments and Corporate Governance Committee;</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">229</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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: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)&nbsp;&nbsp; they
have been directors for a continuous period of more than twelve 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)&nbsp;&nbsp; in relation to a significant
shareholder or shareholder represented on the Board of Directors, any of the
circumstances referred to in items (a), (e), (f) or (g) above shall apply. In
the event of the kinship relations referred to in item (g), the limitation will
apply not only to the shareholder, but also to any proprietary directors of the
company in which shares are held.</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 directors with a
shareholding in the Company may be considered independent provided that they do
not meet the conditions above and, in addition, that their shareholding is not
legally regarded as significant. </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 of the date of
this Annual Report, 13 of the 15 members of our Board of Directors are
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>

<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, our
Audit Committee is composed exclusively of independent directors and the <a name="_cp_text_1_1209"></a>Committee chairman has experience in accounting,
auditing and technical knowledge in financial sector, in accordance with the
specific regulations of the Audit Committee. Our Risk and Compliance Committee
is composed exclusively of non-executive directors, the majority of whom
(including its chairman) are independent directors. Also, in accordance with
the Spanish Corporate Enterprises Act and with corporate governance non-binding
recommendations, our Board of Directors has two separate committees: an
Appointments and Corporate Governance Committee and a Remunerations Committee,
which are composed exclusively of non-executive directors, the majority of whom
(including their chairmen) are independent directors.</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: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 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. Furthermore, 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
applicable law and in Article 21 of our Board Regulations. The Lead Director
also maintains ongoing contact, holds meetings and has conversations with other
Bank directors in order to seek their opinions on the corporate governance and
operation of the Bank&#8217;s corporate bodies. In addition, in accordance with
Article 37 of the Board Regulations, the Lead Director coordinated during 2019
various meetings with non-executive directors, which were held after each
ordinary meeting of the Board of Directors. </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: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 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 &#8220;Item 16 B. Code of Ethics&#8221;.</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" lang=EN-US style="font-size:10.0pt;">ITEM
16H.</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;&#160; &nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US 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>

<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" lang=EN-US style="font-size:10.0pt;">ITEM
17.</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;&#160; &nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US 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>

<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" lang=EN-US style="font-size:10.0pt;">ITEM
18.</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;&#160; &nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US 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-224.</font></font><font style="border:none;">
&nbsp;</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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">230</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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>
<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" lang=EN-US style="font-size:10.0pt;">ITEM 19</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;&#160; &nbsp;</font></font><font style="border:none;"><b><font face="Times New Roman,serif" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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" lang=EN-US 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="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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=83% style="height:6.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="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: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" lang=EN-US style="font-size:10.0pt;">1.1</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;"><a href="http://www.sec.gov/Archives/edgar/data/842180/000084218018000006/d20f2017exhibits1.htm"><u><font color=blue face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Amended
  and Restated Bylaws (Estatutos) of the Registrant (English translation) (*)</font></u></a></font></p>
  <p style="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;">&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" lang=EN-US style="font-size:10.0pt;">2.1 </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;"><a href="d20f2019exhibits21.htm"><u><font color=blue face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Description of Registrant&#8217;s Securities
  Registered under Section 12 of the Exchange Act</font></u></a></font></p>
  <p style="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: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" lang=EN-US style="font-size:10.0pt;line-height:150%;">4.1 </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;"><a href="http://www.sec.gov/Archives/edgar/data/842180/000119312520034036/d882747d6k.htm"><u><font color=blue face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:150%;">Information
  on Compensation Plans (**)</font></u></a></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" lang=EN-US style="font-size:10.0pt;line-height:150%;">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;"><a href="#page_410"><u><font color=blue face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:150%;">Consolidated Companies Composing
  Registrant (see Appendix I to IX to our Consolidated Financial Statements
  included herein)</font></u></a></font></p>
  </td>
 </tr>
<tr>
  <td colspan=2 valign=top width=18% style="padding:0cm 0cm 0cm 7.2pt;">
  <p style="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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=82% style="padding:0cm 0cm 0cm 0cm;">
  <p style="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: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" lang=EN-US style="font-size:10.0pt;">12.1</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;"><a href="d20f2019exhibits12.htm" style="-sec-extract:exhibit"><u><font color=blue face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Section 302 Group Executive Chairman
  Certification</font></u></a></font></p>
  </td>
 </tr>
<tr style="height:6.0pt;">
  <td colspan=2 width=18% style="height:6.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=82% style="height:6.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="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: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" lang=EN-US style="font-size:10.0pt;">12.2</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;"><a href="d20f2019exhibits1202.htm" style="-sec-extract:exhibit"><u><font color=blue face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Section 302 Chief Executive Officer
  Certification</font></u></a></font></p>
  </td>
 </tr>
<tr style="height:6.0pt;">
  <td colspan=2 width=18% style="height:6.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=82% style="height:6.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="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: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" lang=EN-US style="font-size:10.0pt;">12.3</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;"><a href="d20f2019exhibits1203.htm" style="-sec-extract:exhibit"><u><font color=blue face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Section 302 Chief Financial Officer
  Certification</font></u></a></font></p>
  </td>
 </tr>
<tr style="height:6.0pt;">
  <td colspan=2 width=18% style="height:6.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=82% style="height:6.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="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: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" lang=EN-US style="font-size:10.0pt;">13.1</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;"><a href="d20f2019exhibits13.htm" style="-sec-extract:exhibit"><u><font color=blue face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Section 906 Certification</font></u></a></font></p>
  </td>
 </tr>
<tr style="height:6.0pt;">
  <td colspan=2 width=18% style="height:6.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=82% style="height:6.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="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: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" lang=EN-US style="font-size:10.0pt;">15.1</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;"><a href="d20f2019exhibits151.htm" style="-sec-extract:exhibit"><u><font color=blue face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Consent of Independent Registered Public
  Accounting Firm</font></u></a></font></p>
  </td>
 </tr>
<tr>
  <td colspan=2 width=18% style="padding:0cm 0cm 0cm 7.2pt;">
  <p style="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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=82% style="padding:0cm 0cm 0cm 0cm;">
  <p style="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: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" lang=EN-US style="font-size:10.0pt;line-height:150%;">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" lang=EN-US style="font-size:10.0pt;line-height:150%;">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:0cm 0cm 1.0pt 0cm;">
  <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: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" lang=EN-US 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" lang=EN-US style="font-size:9.0pt;">(**) Incorporated by reference to BBVA&#8217;s report on
  Form 6-K submitted on February 12, 2020 (SEC Accession No. </font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">0001193125-20-034036</font></font><font color=black style="border:none;"><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:9.0pt;">).</font></font></p>
  <p style="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: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" lang=EN-US 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 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">231</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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>


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<p style="border:none;margin:0cm;margin-bottom:12.0pt;"><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="margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:.5pt;">&nbsp;</font></font></p>
  </td>
 <td width=79% style="height:4.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin:0cm;margin-bottom:.0001pt;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN-US 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="margin-left:12.0pt;margin-right:0cm;text-indent:-12.0pt;"><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-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;">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="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 width=79% style="height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="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>
 </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" lang=EN-US 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" 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" lang=EN-US 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" style="font-size:10.0pt;">Jaime S&#225;enz
  de Tejada Pulido</font></font><font style="border:none;"><font face="Times New Roman,serif" style="font-size:10.0pt;"> &nbsp;</font></font></p>
  <p style="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" lang=EN-US 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" lang=EN-US 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;">&nbsp;</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;">Date: February 28, 2020</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>



<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>
<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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">232</font><font style="border:none;mso-ansi-language:ES-TRAD;">&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>


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<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 Report of
Independent Registered Public Accounting Firm for the years 2019, 2018, and 201</font></font><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%;">7</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>


</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">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-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=#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 color=#0563C1 style="border:none;"><a href="#page_245"><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" lang=EN-US style="font-size:10.0pt;">F-5</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 color=#0563C1 style="border:none;"><a href="#page_248"><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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_248"><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" lang=EN-US style="font-size:10.0pt;">F-9</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 color=#0563C1 style="border:none;"><a href="#page_250"><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" lang=EN-US style="font-size:10.0pt;">F-10</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 color=#0563C1 style="border:none;"><a href="#page_253"><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" lang=EN-US style="font-size:10.0pt;">F-13</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_254"><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 Reporting 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" lang=EN-US style="font-size:10.0pt;">F-14</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_257"><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" lang=EN-US style="font-size:10.0pt;">F-17</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_281"><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" lang=EN-US style="font-size:10.0pt;">F-41</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_283"><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" lang=EN-US style="font-size:10.0pt;">F-43</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_285"><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" lang=EN-US style="font-size:10.0pt;">F-45</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_285"><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" lang=EN-US style="font-size:10.0pt;">F-45</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_287"><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" lang=EN-US style="font-size:10.0pt;">F-47</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_324"><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" lang=EN-US style="font-size:10.0pt;">F-84</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_337"><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 demand
  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" lang=EN-US style="font-size:10.0pt;">F-97</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_337"><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" lang=EN-US style="font-size:10.0pt;">F-97</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_339"><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" lang=EN-US style="font-size:10.0pt;">F-99</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_339"><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" lang=EN-US style="font-size:10.0pt;">F-99</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_339"><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" lang=EN-US style="font-size:10.0pt;">F-99</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_343"><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" lang=EN-US style="font-size:10.0pt;">F-103</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_345"><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" lang=EN-US style="font-size:10.0pt;">F-105</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_347"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Investments in joint ventures and 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" lang=EN-US style="font-size:10.0pt;">F-107</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_349"><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" lang=EN-US style="font-size:10.0pt;">F-109</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_352"><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" lang=EN-US style="font-size:10.0pt;">F-112</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_355"><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" lang=EN-US style="font-size:10.0pt;">F-115</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_358"><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" lang=EN-US style="font-size:10.0pt;">F-118</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_359"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Non-current assets and disposal groups classified as
  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" lang=EN-US style="font-size:10.0pt;">F-119</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_361"><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" lang=EN-US style="font-size:10.0pt;">F-121</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_366"><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" lang=EN-US style="font-size:10.0pt;">F-126</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_368"><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" lang=EN-US style="font-size:10.0pt;">F-128</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_369"><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" lang=EN-US style="font-size:10.0pt;">F-129</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_377"><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" lang=EN-US style="font-size:10.0pt;">F-137</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_378"><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" lang=EN-US style="font-size:10.0pt;">F-138</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_378"><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" lang=EN-US style="font-size:10.0pt;">F-138</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_379"><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" lang=EN-US style="font-size:10.0pt;">F-139</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_381"><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" lang=EN-US style="font-size:10.0pt;">F-141</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_382"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Non-controlling 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" lang=EN-US style="font-size:10.0pt;">F-142</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_382"><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" lang=EN-US style="font-size:10.0pt;">F-142</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_387"><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" lang=EN-US style="font-size:10.0pt;">F-147</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_387"><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" lang=EN-US style="font-size:10.0pt;">F-147</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_387"><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" lang=EN-US style="font-size:10.0pt;">F-147</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_388"><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" lang=EN-US style="font-size:10.0pt;">F-148</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_388"><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" lang=EN-US style="font-size:10.0pt;">F-148</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_389"><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" lang=EN-US style="font-size:10.0pt;">F-149</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_389"><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" lang=EN-US style="font-size:10.0pt;">F-149</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_389"><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" lang=EN-US style="font-size:10.0pt;">F-149</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_390"><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Gains (losses) on financial assets and liabilities, hedge
  accounting and exchange differences</font></u></a><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">, net</font></u></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" lang=EN-US style="font-size:10.0pt;">F-150</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_392"><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" lang=EN-US style="font-size:10.0pt;">F-152</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_392"><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" lang=EN-US style="font-size:10.0pt;">F-152</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_393"><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" lang=EN-US 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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_396"><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" lang=EN-US style="font-size:10.0pt;">F-156</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_396"><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" lang=EN-US style="font-size:10.0pt;">F-156</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_396"><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><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> or net
  gains by modification</font></u></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" lang=EN-US style="font-size:10.0pt;">F-156</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_397"><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" lang=EN-US style="font-size:10.0pt;">F-157</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_397"><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" lang=EN-US style="font-size:10.0pt;">F-157</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_397"><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" lang=EN-US style="font-size:10.0pt;">F-157</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_398"><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" lang=EN-US style="font-size:10.0pt;">F-158</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_399"><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" lang=EN-US style="font-size:10.0pt;">F-159</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_400"><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" lang=EN-US 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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_402"><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" lang=EN-US style="font-size:10.0pt;">F-162</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_409"><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" lang=EN-US style="font-size:10.0pt;">F-169</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" lang=EN-US 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 color=#0563C1 style="border:none;"><a href="#page_409"><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" lang=EN-US style="font-size:10.0pt;">F-169</font></font></p>
  </td>
 </tr>
</table></div>




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<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="margin:0cm;margin-bottom:.0001pt;text-align:right;"><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></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" lang=EN-US 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="margin:0cm;margin-bottom:.0001pt;"><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></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 color=#0563C1 style="border:none;"><a href="#page_411"><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 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" lang=EN-US style="font-size:10.0pt;">F-171</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 color=#0563C1 style="border:none;"><a href="#page_419"><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" lang=EN-US style="font-size:10.0pt;">F-179</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 color=#0563C1 style="border:none;"><a href="#page_420"><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 201</font></u></a><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">9</font></u></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" lang=EN-US style="font-size:10.0pt;">F-180</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;"><a href="#page_422"><font color=#0563C1 style="border:none;"><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, 2019</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" lang=EN-US style="font-size:10.0pt;">F-182</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 color=#0563C1 style="border:none;"><a href="#page_423"><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" lang=EN-US style="font-size:10.0pt;">F-183</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 color=#0563C1 style="border:none;"><a href="#page_425"><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, 2019, 2018 and 201</font></u></a><u><font color=#0563C1 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">7</font></u></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" lang=EN-US 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;">&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 color=#0563C1 style="border:none;"><a href="#page_429"><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, 2019, 2018 and 2017</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" lang=EN-US 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;">&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 color=#0563C1 style="border:none;"><a href="#page_431"><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" lang=EN-US style="font-size:10.0pt;">F-191</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 color=#0563C1 style="border:none;"><a href="#page_445"><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" lang=EN-US style="font-size:10.0pt;">F-205</font></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:10.0pt;">&#160;&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:20.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:center;"><font style="border:none;"><b><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;">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:0cm;page-break-after:avoid;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;">To the
Shareholders and Board of 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;"><font style="border:none;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:12.0pt;">Banco Bilbao Vizcaya Argentaria, S.A.:</font></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><i><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;">Opinion on the Consolidated</font></i></font><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;"> &nbsp;</font></font><font style="border:none;"><i><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;">Financial Statements</font></i></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-GB style="font-size:10.0pt;line-height:12.0pt;">We have audited the accompanying consolidated balance
sheets of Banco Bilbao Vizcaya Argentaria, S.A. and subsidiaries (the Company)
as of December&nbsp;31, 2019, 2018 and 2017, the related consolidated
statements of income, recognized income and expense, changes in equity, and
cash flows for the years then ended, and the related notes, included on pages
F-5 through F-169 (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&nbsp;31, 2019,
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-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-GB style="font-size:10.0pt;line-height:12.0pt;">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&nbsp;31,
2019, based on criteria established in </font><i><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;">Internal Control &#8211; Integrated
Framework (2013)</font></i><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;"> issued by the Committee of Sponsoring Organizations of the
Treadway Commission, and our report dated February 28, 2020 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-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;"><font style="border:none;"><i><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;">Change in Accounting Principle</font></i></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">As
discussed in Note 1.3 to the consolidated financial statements, in 2018 the
Company changed its method of accounting for financial instruments due to the
adoption of International Financial Reporting Standard 9, </font></font><font style="border:none;"><i><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;">Financial Instruments</font></i></font><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">.</font></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;"><font style="border:none;"><i><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;">Basis for Opinion</font></i></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-GB style="font-size:10.0pt;line-height:12.0pt;">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-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-GB style="font-size:10.0pt;line-height:12.0pt;">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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;"><font style="border:none;"><i><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;">Critical Audit
Matters</font></i></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">The
critical audit matters communicated below are matters arising from the current
period audit of the consolidated financial statements that were communicated or
required to be communicated to the audit committee and that: (1) relate to
accounts or disclosures that are material to the consolidated financial statements
and (2) involved our especially challenging, subjective, or complex judgments.
The communication of critical audit matters does not alter in any way our
opinion on the consolidated financial statements, taken as a whole, and we are
not, by communicating the critical audit matters below, providing separate
opinions on the critical audit matters or on the accounts or disclosures to
which they relate.</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;"><font style="border:none;"><i><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;">Assessment
of the expected credit loss related to loans and advances </font></i></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">As
discussed in Notes 2.2.1 and 7.1 to the consolidated financial statements, the
Company&#8217;s expected credit losses (ECL) related to loans and advances was
&#8364;12,427 million as of December 31, 2019.</font></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">We
identified the assessment of the ECL related to loans and advances as a
critical audit matter because it involved significant measurement uncertainty
requiring complex auditor judgment, as well as knowledge and experience in the
industry.&#160; In addition, auditor judgment was required to evaluate the
sufficiency of audit evidence obtained.&#160; Specifically, the assessment of the
ECL encompassed the evaluation of the overall ECL methodology, inclusive of the
methodologies and assumptions used to estimate the probability of default (PD),
exposure at default (EAD) and loss given default (LGD), as well as the future
macroeconomic scenarios.&#160; It also included assessment of the qualitative
criteria used to adjust the ECL as well as our assessment of the individual
ECL, including the expected cash flows, discount rates, and related collateral
valuation. The assessment also included an evaluation of the mathematical
accuracy of the ECL calculations.</font></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">The primary procedures we
performed to address the critical audit matter included the following:</font></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:21.25pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">&#183;</font><font face="Times New Roman" lang=EN-GB style="font-size:7.0pt;font-style:normal;line-height:12.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">Tested
certain internal controls over the Company&#8217;s ECL process, including controls
related to (i) development and approval of the ECL methodology, (ii)
determination of the methodologies and assumptions used to estimate the PD,
EAD, LGD, and future macroeconomic scenarios, (iii) validation of models used
to calculate the ECL, (iv) calculation of the ECL estimate, and (v) assessment
of qualitative criteria used to adjust the ECL.&#160; We also tested controls over
the Company&#8217;s process for the assessment of the individual ECL including
controls over the expected cash flows, discount rates, and related collateral
values.</font></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:21.25pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">&#183;</font><font face="Times New Roman" lang=EN-GB style="font-size:7.0pt;font-style:normal;line-height:12.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">Evaluated
the Company&#8217;s process to develop the ECL estimate. Specifically, we tested the
sources of data, factors, and assumptions that the Company used by considering
whether they are relevant and reliable.</font></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:21.25pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">&#183;</font><font face="Times New Roman" lang=EN-GB style="font-size:7.0pt;font-style:normal;line-height:12.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">Involved
credit risk professionals with specialized skills, industry knowledge and experience
who assisted in (i) reviewing the Company&#8217;s ECL methodology for compliance with
International Financial Reporting Standards</font></font><font style="border:none;"><i><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;"> &nbsp;</font></i></font><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">as issued by the International Accounting Standards Board, (ii) testing
the models used to calculate the ECL, (iii) testing the methodologies and
assumptions used in calculating the PD, EAD and LGD, (iv) testing the
calculation of the ECL, and (v) evaluating the qualitative criteria used to
adjust the ECL and the effect of those criteria on the ECL.</font></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:21.25pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">&#183;</font><font face="Times New Roman" lang=EN-GB style="font-size:7.0pt;font-style:normal;line-height:12.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">Involved
our economic specialists with specialized skills, industry knowledge and
experience who assisted in assessing the future macroeconomic scenarios.</font></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:21.25pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">&#183;</font><font face="Times New Roman" lang=EN-GB style="font-size:7.0pt;font-style:normal;line-height:12.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">Involved
credit risk and valuation professionals with specialized skills, industry
knowledge and experience who assisted in reviewing the ECL for certain
individually evaluated loans, including assessing the expected cash flows,
discount rates, and related collateral valuation.</font></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">We
evaluated the collective results of the procedures performed to assess the
sufficiency of the audit evidence obtained related to the Company&#8217;s ECL related
to loans and advances.</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:10.0pt;page-break-after:avoid;"><font style="border:none;"><i><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;">Assessment of the measurement of fair value of certain
difficult-to-value financial instruments</font></i></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">As
discussed in Notes 2.2.1 and 8 to the consolidated financial statements, the Company
has recorded &#8364;172,371 million of financial assets measured at fair value (of
which &#8364;81,025 million were considered Level 2 and &#8364;3,752 million were
considered Level 3) and &#8364;101,876 million of financial liabilities measured at
fair value (of which &#8364;74,717 million were considered Level 2 and &#8364;865 million
were considered Level 3) as of December 31, 2019 (collectively,
difficult-to-value financial instruments).&#160;&#160; </font></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">We
identified the assessment of the measurement of fair value of certain
difficult-to-value financial instruments as a critical audit matter.&#160;
Specifically, there was a high degree of subjectivity and judgment involved in
evaluating the models and methodologies used to estimate fair value of certain
difficult-to-value financial instruments.&#160;&#160;&#160; Subjective auditor judgment was
also required to evaluate the models&#8217; significant inputs and assumptions which
were not directly observable in financial markets, such as interest rates,
recovery rates, issuer credit risk, correlations and volatility assumptions.</font></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">The primary procedures we
performed to address the critical audit matter included the following:</font></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:21.25pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">&#183;</font><font face="Times New Roman" lang=EN-GB style="font-size:7.0pt;font-style:normal;line-height:12.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">Tested
certain internal controls over the Company&#8217;s process to measure fair value of
certain difficult-to-value financial instruments.&#160; This included controls
related to (i) development and approval and/or reassessment of the valuation
models and methodologies, and (ii) relevance and reliability of the significant
inputs and assumptions used to estimate fair values for certain
difficult-to-value financial instruments.</font></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:21.25pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">&#183;</font><font face="Times New Roman" lang=EN-GB style="font-size:7.0pt;font-style:normal;line-height:12.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">Involved
valuation professionals with specialized skills and knowledge who assisted in
(i) assessing the compliance of the Company&#8217;s valuation models with
International Financial Reporting Standards</font></font><font style="border:none;"><i><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;"> &nbsp;</font></i></font><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">as issued by the International Accounting Standards Board, (ii) testing
the relevance and reliability of significant inputs and assumptions used to
estimate fair values for certain difficult-to-value financial instruments,
(iii) testing the Company&#8217;s process to develop the fair value of these certain difficult-to-value
financial instruments, including evaluating whether the data, inputs and
assumptions are relevant and reliable and whether the models and methodologies
used are appropriate, and, where appropriate (iv) developing an independent
fair value estimate and comparing it to the Company&#8217;s fair value estimate for a
sample of certain difficult-to-value financial instruments.</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 style="border:none;"><i><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:12.0pt;">Evaluation of goodwill impairment analysis for the United
States cash generating unit</font></i></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">As
discussed in Notes 2.2.8 and 18.1 to the consolidated financial statements, the
goodwill balance as of December 31, 2019 was &#8364;4,955 million, of which &#8364;3,846
million related to the United States cash generating unit (CGU).&#160;&#160; In 2019, the
Company recognized an impairment of &#8364;1,318 million related to goodwill of the
United States CGU.&#160;&#160; The recoverable amount of the CGU used in the goodwill
impairment testing was estimated using a discounted cash flow analysis.</font></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">We identified the evaluation of the goodwill impairment
analysis for the United States CGU as a critical audit matter. The estimated
recoverable amount of the United States CGU was below its carrying value as of
December 31, 2019, resulting in the impairment of goodwill and involved a high
degree of complex auditor judgment. Specifically, the forecasted net interest
margin included in the five-year budget, the sustainable growth rate, and the
discount rate used to calculate the recoverable amount of the CGU were
challenging to test as minor changes to those assumptions had a significant effect
on the Company&#8217;s estimate of the recoverable amount. In addition, auditor
judgment was required to evaluate the sufficiency of the audit evidence
obtained.</font></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">The primary
procedures we performed to address this critical audit matter included the
following: </font></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:21.25pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">&#183;</font><font face="Times New Roman" lang=EN-GB style="font-size:7.0pt;font-style:normal;line-height:12.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">We tested
certain internal controls over the Company&#8217;s goodwill impairment assessment
process, including controls related to the development of the discount rate and
sustainable growth rate, as well as over the forecasted net interest margin
included in the five-year budget. </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-3</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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-bottom:5.0pt;margin-left:21.25pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">&#183;</font><font face="Times New Roman" lang=EN-GB style="font-size:7.0pt;font-style:normal;line-height:12.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">We
evaluated the Company&#8217;s forecasted net interest margin included in the
five-year budget for the United States CGU by comparing (i) the current and
past performance of the CGU and (ii) the consistency with external data. We
also compared the Company&#8217;s historical forecasts to actual results to assess
the Company&#8217;s ability to accurately forecast and considered the results of this
comparison in a sensitivity analysis to evaluate the impact similar differences
would have on the impairment analysis. </font></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:21.25pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">&#183;</font><font face="Times New Roman" lang=EN-GB style="font-size:7.0pt;font-style:normal;line-height:12.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">In
addition, we involved valuation professionals with specialized skills and
knowledge, who assisted in:</font></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">&#183;</font><font face="Times New Roman" lang=EN-GB style="font-size:7.0pt;font-style:normal;line-height:12.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">Evaluating
the discount rate used in the valuation by comparing it against a discount rate
range that was independently developed using publicly available data for
comparable entities; and</font></font></p>

<p style="border:none;margin-bottom:5.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">&#183;</font><font face="Times New Roman" lang=EN-GB style="font-size:7.0pt;font-style:normal;line-height:12.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</font></font><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">Evaluating
the sustainable growth rate used in the valuation by comparing it against a
growth rate range that was independently developed using publicly available
data for comparable entities.</font></font></p>

<p style="border:none;margin-bottom:18.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;font-style:normal;line-height:12.0pt;">We evaluated
the collective results of the procedures performed to assess the sufficiency of
the audit evidence obtained related to the impairment of the United States CGU.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;text-indent:11.9pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">/s/&#160; </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">KPMG Auditores,
S.L.</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;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:12.0pt;">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;"><font style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:12.0pt;">Madrid, Spain</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=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:12.0pt;">February 28, 2020</font></font></p>



<font face=Arial,sans-serif 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>


</DIV>
<p style="border:none;margin-bottom:6.0pt;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;"><img border=0 height=35 id="Imagen 9" src="d20f2019x244x0.jpg" width=100></font></p>

<p style="border:none;margin-bottom:6.0pt;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;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">Consolidated
balance sheets for the years ended December 31, 2019, 2018 and 2017</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_EEFF_ACTIVO_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:15.75pt;">
  <td colspan=5 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=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif style="font-size:5.5pt;">ASSETS (Millions of
  Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:29.25pt;">
  <td nowrap width=54% 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=red face=Arial,sans-serif style="border:none;"><b><font color=red face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">CASH, CASH
  BALANCES AT CENTRAL BANKS AND OTHER DEMAND DEPOSITS</font></b></font></p>
  </td>
 <td nowrap 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 style="font-size:5.5pt;">9</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">44,303</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">58,196</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">42,680</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">FINANCIAL
  ASSETS HELD FOR TRADING</font></b></font></p>
  </td>
 <td nowrap 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 style="font-size:5.5pt;">10</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">102,688</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">90,117</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">64,695</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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:5.5pt;">Derivatives</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">33,185</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">30,536</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">35,265</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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:5.5pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">8,892</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">5,254</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">6,801</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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:5.5pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">26,309</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">25,577</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">22,573</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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=EN-US style="font-size:5.5pt;">Loans and
  advances to central banks</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">535</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">2,163</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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=EN-US style="font-size:5.5pt;">Loans and
  advances to credit institutions</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">21,286</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">14,566</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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=EN-US style="font-size:5.5pt;">Loans and
  advances to customers</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">12,482</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">12,021</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">56</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">NON-TRADING
  FINANCIAL ASSETS MANDATORILY AT FAIR VALUE THROUGH PROFIT OR LOSS</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=center style="border:none;margin:0cm;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:5.5pt;">11</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">5,557</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">5,135</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:silver;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:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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:5.5pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">4,327</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">3,095</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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:5.5pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">110</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">237</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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=EN-US style="font-size:5.5pt;">Loans and
  advances to central banks</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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=EN-US style="font-size:5.5pt;">Loans and
  advances to credit institutions</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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=EN-US style="font-size:5.5pt;">Loans and
  advances to customers</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">1,120</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">1,803</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">FINANCIAL
  ASSETS DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS</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 style="font-size:5.5pt;">12</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">1,214</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">1,313</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">2,709</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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:5.5pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:silver;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">1,888</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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:5.5pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">1,214</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">1,313</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">174</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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=EN-US style="font-size:5.5pt;">Loans and
  advances to customers</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">648</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">FINANCIAL
  ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME</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 style="font-size:5.5pt;">13</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">61,183</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">56,337</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">69,476</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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:5.5pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">2,420</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">2,595</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">3,224</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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:5.5pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">58,731</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">53,709</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">66,251</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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=EN-US style="font-size:5.5pt;">Loans and
  advances to credit institutions</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">33</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">33</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">FINANCIAL
  ASSETS AT AMORTIZED COST</font></b></font></p>
  </td>
 <td nowrap 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 style="font-size:5.5pt;">14</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">439,162</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">419,660</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">445,275</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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:5.5pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">38,877</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">32,530</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">24,093</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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=EN-US style="font-size:5.5pt;">Loans and
  advances to central banks</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">4,275</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">3,941</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">7,300</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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=EN-US style="font-size:5.5pt;">Loans and
  advances to credit institutions</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">13,649</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">9,163</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">26,261</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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=EN-US style="font-size:5.5pt;">Loans and
  advances to customers</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">382,360</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">374,027</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">387,621</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">DERIVATIVES - HEDGE
  ACCOUNTING</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=center style="border:none;margin:0cm;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:5.5pt;">15</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">1,729</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">2,892</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">2,485</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=54% 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=EN-US style="font-size:5.5pt;">FAIR VALUE
  CHANGES OF THE HEDGED ITEMS IN PORTFOLIO HEDGES OF INTEREST RATE RISK</font></b></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">15</font></b></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">28</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(25)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">JOINT VENTURES AND
  ASSOCIATES</font></b></font></p>
  </td>
 <td nowrap 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 style="font-size:5.5pt;">16</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">1,488</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">1,578</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">1,588</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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:5.5pt;">Joint ventures</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">154</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">173</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">256</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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:5.5pt;">Associates</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">1,334</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">1,405</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">1,332</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">INSURANCE AND
  REINSURANCE ASSETS</font></b></font></p>
  </td>
 <td nowrap 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 style="font-size:5.5pt;">23</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">341</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">366</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">421</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">TANGIBLE ASSETS</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=center style="border:none;margin:0cm;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:5.5pt;">17</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">10,068</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">7,229</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">7,191</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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:5.5pt;">Properties, plant and
  equipment</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">9,816</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">7,066</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">6,996</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% style="height:11.1pt;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:5.5pt;">For own use</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">9,554</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">6,756</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">6,581</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% style="height:11.1pt;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=EN-US style="font-size:5.5pt;">Other assets
  leased out under an operating lease</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">263</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">310</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">415</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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:5.5pt;">Investment properties</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">252</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">163</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">195</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">INTANGIBLE ASSETS </font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">18</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">6,966</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">8,314</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">8,464</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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:5.5pt;">Goodwill</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">4,955</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">6,180</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">6,062</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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:5.5pt;">Other intangible
  assets</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">2,010</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">2,134</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">2,402</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">TAX ASSETS</font></b></font></p>
  </td>
 <td nowrap 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 style="font-size:5.5pt;">19</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">17,083</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">18,100</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">16,888</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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:5.5pt;">Current tax assets</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">1,765</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">2,784</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">2,163</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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:5.5pt;">Deferred tax assets </font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">15,318</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">15,316</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">14,725</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">OTHER ASSETS </font></b></font></p>
  </td>
 <td nowrap 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 style="font-size:5.5pt;">20</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">3,800</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">5,472</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">4,359</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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=EN-US style="font-size:5.5pt;">Insurance
  contracts linked to pensions</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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:5.5pt;">Inventories</font></font></p>
  </td>
 <td nowrap width=12% style="height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">581</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">635</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">229</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=54% 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:5.5pt;">Other</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">3,220</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">4,837</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">4,130</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">NON-CURRENT
  ASSETS AND DISPOSAL GROUPS CLASSIFIED AS HELD FOR SALE </font></b></font></p>
  </td>
 <td width=12% 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:5.5pt;">21</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">3,079</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=right style="border:none;margin:0cm;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:5.5pt;">2,001</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=right style="border:none;margin:0cm;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:5.5pt;">23,853</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=54% style="background:#5AC4C4;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:5.5pt;">TOTAL ASSETS</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:5.5pt;">698,690</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:5.5pt;">676,689</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:5.5pt;">690,059</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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The accompanying Notes are an integral part of the 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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_246"></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;"><img border=0 height=35 src="d20f2019x245x0.jpg" width=100></font></p>

<p style="border:none;margin-bottom:6.0pt;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;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">Consolidated
balance sheets for the years ended December 31, 2019, 2018 and 2017</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_EEFF_PASIVO_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:15.75pt;">
  <td colspan=5 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=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">LIABILITIES
  AND EQUITY (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td nowrap width=54% 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=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Notes</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2018</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">FINANCIAL
  LIABILITIES HELD FOR TRADING </font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">10</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">89,633</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">80,774</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">46,182</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=54% style="border:none;height:9.95pt;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:5.5pt;">Derivatives</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:9.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:9.95pt;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 style="font-size:5.5pt;">35,019</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.95pt;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 style="font-size:5.5pt;">31,815</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.95pt;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 style="font-size:5.5pt;">36,169</font></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=54% style="height:9.95pt;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:5.5pt;">Short positions</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;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 style="font-size:5.5pt;">12,249</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">11,025</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">10,013</font></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=54% style="height:9.95pt;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:5.5pt;">Deposits from central
  banks</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;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 style="font-size:5.5pt;">7,635</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">10,511</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=54% style="height:9.95pt;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:5.5pt;">Deposits from credit
  institutions</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;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 style="font-size:5.5pt;">24,969</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">15,687</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=54% style="height:9.95pt;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:5.5pt;">Customer deposits</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;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 style="font-size:5.5pt;">9,761</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">11,736</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=54% style="height:9.95pt;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:5.5pt;">Debt certificates</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=54% style="border:none;border-bottom:solid black 1.0pt;height:9.95pt;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:5.5pt;">Other financial
  liabilities</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:9.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:9.95pt;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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.95pt;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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.95pt;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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">FINANCIAL
  LIABILITIES DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS </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=center style="border:none;margin:0cm;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:5.5pt;">12</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">10,010</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">6,993</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">2,222</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=54% style="border:none;height:9.95pt;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:5.5pt;">Deposits from central
  banks</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:9.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:9.95pt;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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.95pt;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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.95pt;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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=54% style="height:9.95pt;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:5.5pt;">Deposits from credit
  institutions</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=54% style="height:9.95pt;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:5.5pt;">Customer deposits</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;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 style="font-size:5.5pt;">944</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">976</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=54% style="height:9.95pt;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:5.5pt;">Debt certificates</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;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 style="font-size:5.5pt;">4,656</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">2,858</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=54% style="height:9.95pt;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:5.5pt;">Other financial
  liabilities</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;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 style="font-size:5.5pt;">4,410</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">3,159</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">2,222</font></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=54% style="border:none;border-bottom:solid black 1.0pt;height:9.95pt;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;"><i><font color=gray face=Arial,sans-serif style="font-size:5.5pt;">Memorandum item:
  Subordinated liabilities</font></i></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:9.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:9.95pt;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 style="font-size:5.5pt;">-</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.95pt;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 style="font-size:5.5pt;">-</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.95pt;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 style="font-size:5.5pt;">-</font></i></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">FINANCIAL
  LIABILITIES AT AMORTIZED COST </font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">22</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">516,641</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">509,185</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">543,713</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=54% style="border:none;height:9.95pt;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:5.5pt;">Deposits from central
  banks</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:9.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:9.95pt;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 style="font-size:5.5pt;">25,950</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.95pt;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 style="font-size:5.5pt;">27,281</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.95pt;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 style="font-size:5.5pt;">37,054</font></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=54% style="height:9.95pt;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:5.5pt;">Deposits from credit
  institutions</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;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 style="font-size:5.5pt;">28,751</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">31,978</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">54,516</font></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=54% style="height:9.95pt;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:5.5pt;">Customer deposits</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;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 style="font-size:5.5pt;">384,219</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">375,970</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">376,379</font></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=54% style="height:9.95pt;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:5.5pt;">Debt certificates</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;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 style="font-size:5.5pt;">63,963</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">61,112</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">63,915</font></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=54% style="height:9.95pt;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:5.5pt;">Other financial
  liabilities</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;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 style="font-size:5.5pt;">13,758</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">12,844</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">11,850</font></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=54% style="border:none;border-bottom:solid black 1.0pt;height:9.95pt;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;"><i><font color=gray face=Arial,sans-serif style="font-size:5.5pt;">Memorandum item:
  Subordinated liabilities</font></i></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:9.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:9.95pt;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 style="font-size:5.5pt;">18,018</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.95pt;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 style="font-size:5.5pt;">18,047</font></i></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.95pt;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 style="font-size:5.5pt;">17,316</font></i></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">DERIVATIVES - HEDGE
  ACCOUNTING</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">15</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">2,233</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">2,680</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">2,880</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">FAIR VALUE
  CHANGES OF THE HEDGED ITEMS IN PORTFOLIO HEDGES OF INTEREST RATE RISK</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=center style="border:none;margin:0cm;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:5.5pt;">15</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">-</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">-</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(7)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">LIABILITIES
  UNDER INSURANCE AND REINSURANCE CONTRACTS </font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">23</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">10,606</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">9,834</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">9,223</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">PROVISIONS</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">24</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">6,538</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">6,772</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">7,477</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=54% style="border:none;height:9.95pt;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=EN-US style="font-size:5.5pt;">Pensions and
  other post employment defined benefit obligations</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:9.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:9.95pt;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 style="font-size:5.5pt;">4,631</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.95pt;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 style="font-size:5.5pt;">4,787</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.95pt;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 style="font-size:5.5pt;">5,407</font></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=54% style="height:9.95pt;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=EN-US style="font-size:5.5pt;">Other long term
  employee benefits</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;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 style="font-size:5.5pt;">61</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">62</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">67</font></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=54% style="height:9.95pt;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=EN-US style="font-size:5.5pt;">Provisions for
  taxes and other legal contingencies</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;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 style="font-size:5.5pt;">677</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">686</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">756</font></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=54% style="height:9.95pt;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:5.5pt;">Commitments and
  guarantees given</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.95pt;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 style="font-size:5.5pt;">711</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">636</font></font></p>
  </td>
 <td nowrap width=11% style="height:9.95pt;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 style="font-size:5.5pt;">578</font></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=54% style="border:none;border-bottom:solid black 1.0pt;height:9.95pt;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:5.5pt;">Other provisions</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:9.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:9.95pt;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 style="font-size:5.5pt;">457</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.95pt;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 style="font-size:5.5pt;">601</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.95pt;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 style="font-size:5.5pt;">669</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">TAX LIABILITIES </font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">19</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">2,808</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">3,276</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">3,298</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=54% style="border:none;height:9.95pt;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:5.5pt;">Current tax
  liabilities</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:9.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:9.95pt;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 style="font-size:5.5pt;">880</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.95pt;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 style="font-size:5.5pt;">1,230</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:9.95pt;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 style="font-size:5.5pt;">1,114</font></font></p>
  </td>
 </tr>
<tr style="height:9.95pt;">
  <td width=54% style="border:none;border-bottom:solid black 1.0pt;height:9.95pt;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:5.5pt;">Deferred tax
  liabilities</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:9.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:9.95pt;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 style="font-size:5.5pt;">1,928</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.95pt;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 style="font-size:5.5pt;">2,046</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:9.95pt;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 style="font-size:5.5pt;">2,184</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">OTHER LIABILITIES </font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">20</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">3,742</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">4,301</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">4,550</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">LIABILITIES
  INCLUDED IN DISPOSAL GROUPS CLASSIFIED AS HELD FOR SALE</font></b></font></p>
  </td>
 <td nowrap width=12% 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=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">1,554</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">-</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">17,197</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=54% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:5.5pt;">TOTAL LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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=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=12% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:5.5pt;">643,765</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:5.5pt;">623,814</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:5.5pt;">636,736</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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The accompanying Notes are an integral part of the 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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_247"></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;"><img border=0 height=35 id="Imagen 2" src="d20f2019x246x0.jpg" width=100></font></p>

<p style="border:none;margin-bottom:6.0pt;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;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">Consolidated
balance sheets for the years ended December 31, 2019, 2018 and 2017</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_EEFF_P.NETO_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:15.75pt;">
  <td colspan=5 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=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">LIABILITIES
  AND EQUITY (Continued) (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td nowrap width=54% 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 lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Notes</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">SHAREHOLDERS&#8217; FUNDS</font></b></font></p>
  </td>
 <td nowrap width=12% 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;"><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">55,958</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">54,326</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">53,283</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">Capital</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">26</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">3,267</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">3,267</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">3,267</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=54% style="border:none;height:10.5pt;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:5.5pt;">Paid up capital</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">3,267</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 style="font-size:5.5pt;">3,267</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 style="font-size:5.5pt;">3,267</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=54% style="height:10.5pt;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=EN-US style="font-size:5.5pt;">Unpaid capital
  which has been called up</font></font></p>
  </td>
 <td nowrap width=12% 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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">-</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 style="font-size:5.5pt;">-</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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=54% style="height:9.0pt;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:5.5pt;">Share premium</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;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:5.5pt;">27</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:5.5pt;">23,992</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">23,992</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">23,992</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% style="height:8.25pt;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=EN-US style="font-size:5.5pt;">Equity
  instruments issued other than capital</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;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:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;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:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;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:5.5pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=54% style="height:9.0pt;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:5.5pt;">Other equity</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#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 nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:5.5pt;">56</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">50</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">54</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=54% style="height:9.0pt;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:5.5pt;">Retained earnings</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;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:5.5pt;">28</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:5.5pt;">26,402</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">23,076</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">23,746</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=54% style="height:9.0pt;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:5.5pt;">Revaluation
  reserves</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;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:5.5pt;">28</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:5.5pt;">-</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">3</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">12</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=54% style="height:9.0pt;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:5.5pt;">Other reserves</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;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:5.5pt;">28</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:5.5pt;">(125)</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(58)</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(35)</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=54% style="height:16.5pt;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=EN-US style="font-size:5.5pt;">Reserves or
  accumulated losses of investments in joint ventures and associates</font></font></p>
  </td>
 <td nowrap width=12% style="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 lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">(125)</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 style="font-size:5.5pt;">(58)</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 style="font-size:5.5pt;">(35)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=54% 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 style="font-size:5.5pt;">Other</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</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 style="font-size:5.5pt;">-</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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=54% style="height:9.0pt;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:5.5pt;">Less: treasury
  shares</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;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:5.5pt;">29</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:5.5pt;">(62)</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(296)</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(96)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% style="height:8.25pt;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=EN-US style="font-size:5.5pt;">Profit or
  loss attributable to owners of the parent</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;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:5.5pt;">3,512</font></b></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;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:5.5pt;">5,400</font></b></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;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:5.5pt;">3,514</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">Less: interim
  dividends</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(1,084)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(1,109)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(1,172)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">ACCUMULATED OTHER
  COMPREHENSIVE INCOME</font></b></font></p>
  </td>
 <td nowrap 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 style="font-size:5.5pt;">30</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(7,235)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(7,215)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(6,939)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% style="border:none;height:8.25pt;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=EN-US style="font-size:5.5pt;">Items that
  will not be reclassified to profit or loss</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(1,875)</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(1,284)</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(1,183)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=EN-US style="font-size:5.5pt;">Actuarial gains
  (losses) on defined benefit pension plans</font></font></p>
  </td>
 <td nowrap width=12% 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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(1,498)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(1,245)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(1,183)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=EN-US style="font-size:5.5pt;">Non-current
  assets and disposal groups classified as held for sale</font></font></p>
  </td>
 <td nowrap width=12% 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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=54% 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 lang=EN-US style="font-size:5.5pt;">&#160;Share of other
  recognized income and expense of investments joint ventures and associates</font></font></p>
  </td>
 <td nowrap width=12% style="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 lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">-</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 style="font-size:5.5pt;">-</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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=54% 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 lang=EN-US style="font-size:5.5pt;">Fair value
  changes of equity instruments measured at fair value through other
  comprehensive income</font></font></p>
  </td>
 <td nowrap width=12% style="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 lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">(403)</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 style="font-size:5.5pt;">(155)</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=54% 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 lang=EN-US style="font-size:5.5pt;">Hedge
  ineffectiveness of fair value hedges for equity instruments measured at fair
  value through other comprehensive income</font></font></p>
  </td>
 <td nowrap width=12% style="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 lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">-</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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=54% style="height:16.5pt;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=EN-US style="font-size:5.5pt;">Fair value
  changes of equity instruments measured at fair value through other
  comprehensive income (hedged item)</font></font></p>
  </td>
 <td nowrap width=12% style="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 lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">-</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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=54% style="height:16.5pt;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=EN-US style="font-size:5.5pt;">Fair value
  changes of equity instruments measured at fair value through other
  comprehensive income (hedging instrument)</font></font></p>
  </td>
 <td nowrap width=12% style="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 lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">-</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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=54% 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;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">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=12% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></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;"><font color=black face=Arial,sans-serif style="font-size:5.5pt;">24</font></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;"><font color=black face=Arial,sans-serif style="font-size:5.5pt;">116</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">Items that
  may be reclassified to profit or loss</font></b></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:5.5pt;">(5,359)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(5,932)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(5,755)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=EN-US style="font-size:5.5pt;">Hedge of net
  investments in foreign operations (effective portion)</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(896)</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 style="font-size:5.5pt;">(218)</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 style="font-size:5.5pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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:5.5pt;">Foreign currency
  translation </font></font></p>
  </td>
 <td nowrap width=12% 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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(6,161)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(6,643)</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 style="font-size:5.5pt;">(7,297)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=EN-US style="font-size:5.5pt;">Hedging
  derivatives. Cash flow hedges (effective portion)</font></font></p>
  </td>
 <td nowrap width=12% 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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(44)</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(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 style="font-size:5.5pt;">(34)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=EN-US style="font-size:5.5pt;">Financial
  assets available for sale</font></font></p>
  </td>
 <td nowrap width=12% 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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:silver;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&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 style="font-size:5.5pt;">1,641</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=54% 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 lang=EN-US style="font-size:5.5pt;">Fair value
  changes of debt instruments measured at fair value through other
  comprehensive income</font></font></p>
  </td>
 <td nowrap width=12% style="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 lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">1,760</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 style="font-size:5.5pt;">943</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=EN-US style="font-size:5.5pt;">Hedging
  instruments (non-designated items)</font></font></p>
  </td>
 <td nowrap width=12% 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=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;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;"><font color=#094FA4 face=Arial,sans-serif style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;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;"><font color=#094FA4 face=Arial,sans-serif style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=EN-US style="font-size:5.5pt;">Non-current
  assets and disposal groups classified as held for sale</font></font></p>
  </td>
 <td nowrap width=12% 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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(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 style="font-size:5.5pt;">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 style="font-size:5.5pt;">(26)</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=54% 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;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">Share of other
  recognized income and expense of investments in joint ventures and associates</font></font></p>
  </td>
 <td nowrap width=12% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></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;"><font color=black face=Arial,sans-serif style="font-size:5.5pt;">1</font></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;"><font color=black face=Arial,sans-serif style="font-size:5.5pt;">(9)</font></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;"><font color=black face=Arial,sans-serif style="font-size:5.5pt;">(40)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">MINORITY
  INTERESTS (NON-CONTROLLING INTERESTS)</font></b></font></p>
  </td>
 <td nowrap 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 style="font-size:5.5pt;">31</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">6,201</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">5,764</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">6,979</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=54% 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:5.5pt;">Accumulated other
  comprehensive income</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(3,526)</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">(3,236)</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.5pt;">(2,550)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=54% 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 style="font-size:5.5pt;">Other items</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">9,727</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 style="font-size:5.5pt;">9,000</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 style="font-size:5.5pt;">9,530</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=54% style="background:#5AC4C4;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 style="font-size:5.5pt;">TOTAL EQUITY</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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=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=12% style="background:#5AC4C4;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 style="font-size:5.5pt;">54,925</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:5.5pt;">52,874</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:5.5pt;">53,323</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=54% style="background:#5AC4C4;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=EN-US style="font-size:5.5pt;">TOTAL EQUITY
  AND TOTAL LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:5.5pt;">698,690</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:5.5pt;">676,689</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:5.5pt;">690,059</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% style="border:none;height:8.25pt;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:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#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 nowrap width=12% 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=#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 nowrap width=11% 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=#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 nowrap width=11% 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=#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>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=54% 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=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">MEMORANDUM
  ITEM (OFF-BALANCE SHEET EXPOSURES) (Millions of Euros)</font></font></p>
  </td>
 <td width=12% style="background:#E9E9E9;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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=12% style="background:#E9E9E9;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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="background:#E9E9E9;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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% style="background:#E9E9E9;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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=54% 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 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Notes</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2019</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2018</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=54% 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:5.5pt;">Loan commitments
  given</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">33</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">130,923</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 style="font-size:5.5pt;">118,959</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 style="font-size:5.5pt;">94,268</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=54% 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:5.5pt;">Financial guarantees
  given</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">33</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">10,984</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 style="font-size:5.5pt;">16,454</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 style="font-size:5.5pt;">16,545</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=54% 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:5.5pt;">Other commitments
  given</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">33</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">39,209</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 style="font-size:5.5pt;">35,098</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 style="font-size:5.5pt;">45,738</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:6.0pt;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%;">The accompanying Notes are an integral part of the 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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_248"></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;"><img border=0 height=35 id="Imagen 3" src="d20f2019x247x0.jpg" width=100></font></p>

<p style="border:none;margin-bottom:6.0pt;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;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">Consolidated
income statements for the years ended December 31, 2019, 2018 and 2017</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_EEFF_RESULTADOS_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:9.75pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;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=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">CONSOLIDATED
  INCOME STATEMENTS (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.75pt;">
  <td nowrap width=52% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;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=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Notes</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2019</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2018</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% 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:5.5pt;">Interest and other
  income</font></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">37.1</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">31,061</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">29,831</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">29,296</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% 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:5.5pt;">Interest expense</font></font></p>
  </td>
 <td nowrap 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 style="font-size:5.5pt;">37.2</font></b></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">(12,859)</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">(12,239)</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">(11,537)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">NET INTEREST INCOME</font></b></font></p>
  </td>
 <td width=12% 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 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 nowrap width=12% 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 style="font-size:5.5pt;">18,202</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">17,591</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">17,758</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% 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:5.5pt;">Dividend income </font></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">38</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">162</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">157</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">334</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=52% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">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=center style="border:none;margin:0cm;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:5.5pt;">39</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 style="font-size:5.5pt;">(42)</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 style="font-size:5.5pt;">(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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.5pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% 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:5.5pt;">Fee and commission
  income </font></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">40</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">7,522</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">7,132</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">7,150</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% 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:5.5pt;">Fee and commission
  expense</font></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">40</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(2,489)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(2,253)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(2,229)</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=52% 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=EN-US style="font-size:5.5pt;">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=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">41</font></b></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">239</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">216</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">985</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=52% 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 lang=EN-US style="font-size:5.5pt;">Gains (losses)
  on financial assets and liabilities held for trading, net</font></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">41</font></b></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">451</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">707</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">218</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=52% 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 lang=EN-US style="font-size:5.5pt;">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: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:5.5pt;">41</font></b></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">143</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">96</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=52% 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 lang=EN-US style="font-size:5.5pt;">Gains (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: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:5.5pt;">41</font></b></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">(94)</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">143</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">(56)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% 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=EN-US style="font-size:5.5pt;">Gains (losses)
  from hedge accounting, net </font></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">41</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">59</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">72</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(209)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% 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:5.5pt;">Exchange differences,
  net</font></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">41</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">586</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(9)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">1,030</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% 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:5.5pt;">Other operating
  income </font></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">42</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">671</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">949</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">1,439</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% 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:5.5pt;">Other operating
  expense</font></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">42</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(2,006)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(2,101)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(2,223)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% 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=EN-US style="font-size:5.5pt;">Income from
  insurance and reinsurance contracts</font></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">43</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">2,890</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">2,949</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">3,342</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% 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=EN-US style="font-size:5.5pt;">Expense from
  insurance and reinsurance contracts</font></font></p>
  </td>
 <td nowrap 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 style="font-size:5.5pt;">43</font></b></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">(1,751)</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">(1,894)</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">(2,272)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">GROSS INCOME</font></b></font></p>
  </td>
 <td width=12% 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 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 nowrap width=12% 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 style="font-size:5.5pt;">24,542</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">23,747</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">25,270</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% 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:5.5pt;">Administration costs</font></font></p>
  </td>
 <td nowrap width=12% 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=#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 nowrap width=12% 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 style="font-size:5.5pt;">(10,303)</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(10,494)</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(11,112)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% 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:5.5pt;">&#160;&#160;&#160;&#160; Personnel
  expense</font></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">44.1</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(6,340)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(6,120)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(6,571)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% 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:5.5pt;">&#160;&#160;&#160;&#160; Other
  administrative expense</font></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">44.2</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(3,963)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(4,374)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(4,541)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% 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:5.5pt;">Depreciation and
  amortization</font></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">45</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(1,599)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(1,208)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(1,387)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% 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=EN-US style="font-size:5.5pt;">Provisions or
  reversal of provisions</font></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">46</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(617)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(373)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(745)</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=52% 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=EN-US style="font-size:5.5pt;">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:24.75pt;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:5.5pt;">47</font></b></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">(4,151)</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">(3,981)</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">(4,803)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% 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=EN-US style="font-size:5.5pt;">&#160;&#160;&#160;&#160; Financial
  assets measured at amortized cost</font></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(4,069)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(3,980)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(3,676)</font></font></p>
  </td>
 </tr>
<tr style="height:7.5pt;">
  <td width=52% 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 lang=EN-US style="font-size:5.5pt;">&#160;&#160;&#160;&#160; Financial
  assets at fair value through other comprehensive income</font></font></p>
  </td>
 <td nowrap width=12% style="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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(82)</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(1)</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(1,127)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">NET OPERATING
  INCOME</font></b></font></p>
  </td>
 <td width=12% 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 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 nowrap width=12% 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 style="font-size:5.5pt;">7,872</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">7,691</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">7,222</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=52% 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=EN-US style="font-size:5.5pt;">Impairment or
  reversal of impairment of investments in joint ventures and associates</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></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 style="font-size:5.5pt;">(46)</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 style="font-size:5.5pt;">-</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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=52% 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 lang=EN-US style="font-size:5.5pt;">Impairment or
  reversal of impairment on non-financial assets</font></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">48</font></b></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">(1,447)</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">(138)</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">(364)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% 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:5.5pt;">&#160;&#160;&#160;&#160; Tangible assets</font></font></p>
  </td>
 <td nowrap width=12% 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=#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 nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(94)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(5)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(42)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% 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:5.5pt;">&#160;&#160;&#160;&#160; Intangible
  assets</font></font></p>
  </td>
 <td nowrap width=12% 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=#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 nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(1,330)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(83)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(16)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=52% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.5pt;">&#160;&#160;&#160;&#160; Other assets</font></font></p>
  </td>
 <td nowrap width=12% 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=#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 nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(23)</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(51)</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(306)</font></font></p>
  </td>
 </tr>
<tr style="height:17.25pt;">
  <td width=52% 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=EN-US style="font-size:5.5pt;">Gains (losses)
  on derecognition of non - financial assets and subsidiaries, net</font></font></p>
  </td>
 <td nowrap width=12% style="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 style="font-size:5.5pt;">49</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(3)</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">78</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">47</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=52% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">Negative
  goodwill recognized in profit or loss</font></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=52% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">Gains (losses)
  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=12% 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:5.5pt;">50</font></b></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.5pt;">21</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.5pt;">815</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.5pt;">26</font></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">PROFIT (LOSS)
  BEFORE TAX FROM CONTINUING OPERATIONS</font></b></font></p>
  </td>
 <td nowrap width=12% 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=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">6,398</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">8,446</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">6,931</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;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">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: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=EN-US style="font-size:5.0pt;">&nbsp;</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;"><font color=black face=Arial,sans-serif style="font-size:5.5pt;">(2,053)</font></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;"><font color=black face=Arial,sans-serif style="font-size:5.5pt;">(2,219)</font></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;"><font color=black face=Arial,sans-serif style="font-size:5.5pt;">(2,174)</font></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">PROFIT (LOSS)
  AFTER TAX FROM CONTINUING OPERATIONS</font></b></font></p>
  </td>
 <td nowrap width=12% 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=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">4,345</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">6,227</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">4,757</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;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">Profit (loss)
  after tax from discontinued operations</font></font></p>
  </td>
 <td nowrap width=12% 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=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</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;"><font color=black face=Arial,sans-serif style="font-size:5.5pt;">-</font></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;"><font color=black face=Arial,sans-serif style="font-size:5.5pt;">-</font></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;"><font color=black face=Arial,sans-serif style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% style="background:#5AC4C4;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 style="font-size:5.5pt;">PROFIT FOR THE YEAR</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 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 nowrap width=12% style="background:#5AC4C4;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 style="font-size:5.5pt;">4,345</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:5.5pt;">6,227</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:5.5pt;">4,757</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">ATTRIBUTABLE
  TO MINORITY INTEREST (NON-CONTROLLING INTERESTS)</font></b></font></p>
  </td>
 <td nowrap 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 style="font-size:5.5pt;">31</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">833</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">827</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">1,243</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">ATTRIBUTABLE
  TO OWNERS OF THE PARENT</font></b></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:5.5pt;">3,512</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">5,400</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">3,514</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=52% 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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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=#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 nowrap width=12% 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 style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Notes</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2019</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2018</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">EARNINGS PER SHARE&#160;
  (Euros)</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 style="font-size:5.5pt;">5</font></b></font></p>
  </td>
 <td nowrap width=12% 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 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 nowrap width=12% 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 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 nowrap width=12% 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 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>
 </tr>
<tr style="height:9.75pt;">
  <td width=52% 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=EN-US style="font-size:5.5pt;">Basic earnings
  per share from continued operations</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:9.75pt;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=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">0.47</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">0.75</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">0.46</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=52% 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=EN-US style="font-size:5.5pt;">Diluted
  earnings per share from continued operations</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.75pt;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=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">0.47</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">0.75</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">0.46</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=52% 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=EN-US style="font-size:5.5pt;">Basic earnings
  per share from discontinued operations</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.75pt;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=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=52% 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=EN-US style="font-size:5.5pt;">Diluted
  earnings per share from discontinued operations</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.75pt;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=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">-</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:6.0pt;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%;">The accompanying Notes 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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_249"></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;"><img border=0 height=35 id="Imagen 4" src="d20f2019x248x0.jpg" width=100></font></p>

<p style="border:none;margin-bottom:6.0pt;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;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">Consolidated
statements of recognized income and expense for the years ended December 31,
2019, 2018 and 2017</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_EEFF_IYG_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:9.0pt;">
  <td colspan=5 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=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">CONSOLIDATED
  STATEMENTS OF RECOGNIZED INCOME AND EXPENSE (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td nowrap width=54% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;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=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2019</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2018</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">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 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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">4,345</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">6,227</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">4,757</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">OTHER RECOGNIZED
  INCOME (EXPENSE)</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(310)</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(4,439)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">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 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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(584)</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(91)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=54% style="border:none;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=EN-US style="font-size:5.5pt;">Actuarial gains
  (losses) from defined benefit pension plans</font></font></p>
  </td>
 <td nowrap width=11% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(364)</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(79)</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 style="font-size:5.5pt;">(96)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=54% 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=EN-US style="font-size:5.5pt;">Non-current
  assets and disposal groups held for sale</font></font></p>
  </td>
 <td nowrap width=11% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">2</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=54% 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=EN-US style="font-size:5.5pt;">Share of other
  recognized income and expense of entities accounted for using the equity
  method</font></font></p>
  </td>
 <td nowrap width=11% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=EN-US style="font-size:5.5pt;">Fair value
  changes of equity instruments measured at fair value through other
  comprehensive income, net</font></font></p>
  </td>
 <td nowrap width=11% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(229)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(172)</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=EN-US style="font-size:5.5pt;">Gains (losses)
  from hedge accounting of equity instruments at fair value through other comprehensive
  income, net</font></font></p>
  </td>
 <td nowrap width=11% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=EN-US style="font-size:5.5pt;">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:8.25pt;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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(133)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">166</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=54% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">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:8.25pt;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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">140</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">(56)</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 style="font-size:5.5pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">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 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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">274</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(4,348)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">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: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=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:5.5pt;">(687)</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(244)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">80</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% style="border:none;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=EN-US style="font-size:5.5pt;">Valuation gains
  (losses) taken to equity</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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(687)</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(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 style="font-size:5.5pt;">112</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% 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=EN-US style="font-size:5.5pt;">Transferred to
  profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% style="border:none;border-bottom:solid black 1.0pt;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 style="font-size:5.5pt;">Other
  reclassifications</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 style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">-</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 style="font-size:5.5pt;">(32)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">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 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 nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">132</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(5,080)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% style="border:none;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=EN-US style="font-size:5.5pt;">Translation
  gains (losses) taken to equity</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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">113</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(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 style="font-size:5.5pt;">(5,089)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% 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=EN-US style="font-size:5.5pt;">Transferred to
  profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">1</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">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 style="font-size:5.5pt;">(22)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% style="border:none;border-bottom:solid black 1.0pt;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 style="font-size:5.5pt;">Other
  reclassifications</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 style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">18</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">-</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 style="font-size:5.5pt;">31</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">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 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=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(109)</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(67)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% style="border:none;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=EN-US style="font-size:5.5pt;">Valuation gains
  (losses) taken to equity</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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(99)</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(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 style="font-size:5.5pt;">(122)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% 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=EN-US style="font-size:5.5pt;">Transferred to
  profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(10)</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">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 style="font-size:5.5pt;">55</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% 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=EN-US style="font-size:5.5pt;">Transferred to
  initial carrying amount of hedged items</font></font></p>
  </td>
 <td nowrap width=11% style="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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% style="border:none;border-bottom:solid black 1.0pt;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 style="font-size:5.5pt;">Other
  reclassifications</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 style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">-</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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">Available-for-sale
  financial 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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:silver;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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:silver;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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">719</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% style="border:none;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=EN-US style="font-size:5.5pt;">Valuation gains
  (losses) taken to equity</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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:silver;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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:silver;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=EN-US style="font-size:5.0pt;">&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 style="font-size:5.5pt;">384</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% 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=EN-US style="font-size:5.5pt;">Transferred to
  profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:silver;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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:silver;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=EN-US style="font-size:5.0pt;">&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 style="font-size:5.5pt;">347</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% style="border:none;border-bottom:solid black 1.0pt;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 style="font-size:5.5pt;">Other
  reclassifications</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 style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:silver;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 style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:silver;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 style="font-size:5.0pt;">&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 style="font-size:5.5pt;">(12)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">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 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=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">1,278</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(901)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:silver;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=#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>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% style="border:none;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=EN-US style="font-size:5.5pt;">Valuation gains
  (losses) taken to equity</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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">1,401</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(766)</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;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 style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% 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=EN-US style="font-size:5.5pt;">Transferred to
  profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(122)</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(135)</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;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 style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% style="border:none;border-bottom:solid black 1.0pt;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 style="font-size:5.5pt;">Other
  reclassifications</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 style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="background:silver;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 style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">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: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=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:5.5pt;">(19)</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">20</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(20)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% style="border:none;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=EN-US style="font-size:5.5pt;">Valuation gains
  (losses) taken to equity</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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(8)</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">-</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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% 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=EN-US style="font-size:5.5pt;">Transferred to
  profit or loss</font></font></p>
  </td>
 <td nowrap width=11% style="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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% style="border:none;border-bottom:solid black 1.0pt;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 style="font-size:5.5pt;">Other
  reclassifications</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 style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(11)</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">-</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 style="font-size:5.5pt;">(20)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">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: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=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:5.5pt;">10</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">9</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(14)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">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: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=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:5.5pt;">(332)</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">244</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">35</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=54% style="background:#5AC4C4;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:5.5pt;">TOTAL RECOGNIZED
  INCOME/EXPENSE</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:5.5pt;">4,036</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:5.5pt;">3,704</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:5.5pt;">318</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">Attributable
  to minority interest (non-controlling interests)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:5.5pt;">543</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(420)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">127</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">Attributable
  to the parent company</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:5.5pt;">3,493</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">4,124</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">191</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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The accompanying Notes are an integral part of the consolidated financial
statements.</font></font></p>





<font face=Arial,sans-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-9</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_250"></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:12.0pt;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;"><img border=0 height=35 id="Imagen 5" src="d20f2019x249x0.jpg" width=100></font></p>

<p style="border:none;margin-bottom:6.0pt;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;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">Consolidated
statements of changes in equity for the years ended December 31, 2019, 2018 and
2017</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_EEFF_Var.Patrimonio1_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:9.0pt;">
  <td colspan=15 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=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">CONSOLIDATED
  STATEMENTS OF CHANGES IN EQUITY (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap valign=bottom width=21% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td rowspan=2 width=6% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Capital</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">(Note 26)</font></b></font></p>
  </td>
 <td rowspan=2 width=6% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Share Premium (Note 27)</font></b></font></p>
  </td>
 <td rowspan=2 width=6% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Other Equity </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td rowspan=2 width=6% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Retained earnings </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">(Note 28)</font></b></font></p>
  </td>
 <td rowspan=2 width=6% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Revaluation reserves</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">&#160;(Note 28)</font></b></font></p>
  </td>
 <td rowspan=2 width=6% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Other reserves</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">(Note 28)</font></b></font></p>
  </td>
 <td rowspan=2 width=6% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">(-) Treasury shares (Note 29)</font></b></font></p>
  </td>
 <td rowspan=2 width=6% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">(-) Interim dividends (Note 4)</font></b></font></p>
  </td>
 <td rowspan=2 width=5% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">Accumulated other comprehensive income</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">&#160;(Note 30)</font></b></font></p>
  </td>
 <td colspan=2 width=10% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Non-controlling interest</font></b></font></p>
  </td>
 <td rowspan=2 width=5% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:48.75pt;">
  <td width=21% style="border:none;border-bottom:solid black 1.0pt;height:48.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2019</font></b></font></p>
  </td>
 <td width=5% style="border:none;border-bottom:solid black 1.0pt;height:48.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">Accumulated other comprehensive income (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:48.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Other</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">(Note 31)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">Balances as
  of January 1, 2019 as originally filed (*)</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">3,267</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">23,992</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">50</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">23,017</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">3</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">(58)</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">(296)</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">5,324</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(975)</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(7,215)</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(3,236)</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">9,000</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">52,874</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=21% 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=EN-US style="font-size:5.5pt;">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: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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">58</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">76</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(134)</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% style="background:#5AC4C4;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 style="font-size:5.5pt;">Balance as of January
  1, 2019</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">3,267</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">23,992</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">50</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">23,076</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">3</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">(58)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">(296)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">5,400</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">(1,109)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">(7,215)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">(3,236)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">9,000</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">52,874</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">Total
  income/expense recognized</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">3,512</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(19)</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(291)</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">833</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">4,036</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">Other changes in
  equity</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">6</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">3,327</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">(3)</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">(68)</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">234</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">(5,400)</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">25</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(106)</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(1,985)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=21% 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:5.5pt;">Issuances of common
  shares</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=21% 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:5.5pt;">Issuances of
  preferred shares</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=21% 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=EN-US style="font-size:5.5pt;">Issuance of
  other equity instruments</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=21% 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=EN-US style="font-size:5.5pt;">Settlement or
  maturity of other equity instruments issued </font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=21% 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=EN-US style="font-size:5.5pt;">Conversion of
  debt on equity</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=21% 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:5.5pt;">Common Stock
  reduction</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=21% 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:5.5pt;">Dividend distribution</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">(1,059)</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">(4)</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(1,084)</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(142)</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(2,289)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=21% 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:5.5pt;">Purchase of treasury
  shares</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">(1,088)</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(1,088)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=21% 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=EN-US style="font-size:5.5pt;">Sale or
  cancellation of treasury shares</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">13</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">1,322</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">1,335</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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=EN-US style="font-size:5.5pt;">Reclassification
  of other equity instruments to financial liabilities</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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=EN-US style="font-size:5.5pt;">Reclassification
  of financial liabilities to other equity instruments</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=21% 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:5.5pt;">Transfers within
  total equity</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">4,360</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">(3)</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">(66)</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">(5,400)</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">1,109</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=21% 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=EN-US style="font-size:5.5pt;">Increase/Reduction
  of equity due to business combinations</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=21% 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:5.5pt;">Share based payments</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">(4)</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(4)</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=21% 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=EN-US style="font-size:5.5pt;">Other increases
  or (-) decreases in equity</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">11</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">14</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">1</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">36</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">62</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% style="background:#5AC4C4;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 style="font-size:5.5pt;">Balances as of
  December 31, 2019</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">3,267</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">23,992</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">56</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">26,402</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">(125)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">(62)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">3,512</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">(1,084)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">(7,235)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">(3,526)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">9,727</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">54,925</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;page-break-after:avoid;text-align:justify;"><a name="XBRL_FS_891734151dd14f608d6818433"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*)&#160;&#160; Balances as of December 31, 2018 as originally reported in
the consolidated Financial Statements for the year 2018.</font></font><a name="XBRL_FS_891734151dd14f608d6818433_bclEnd"></a></p>

<p style="border:none;margin:0cm;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:8.0pt;line-height:115%;">The accompanying Notes 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-10</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_251"></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:12.0pt;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;"><img border=0 height=35 id="Imagen 6" src="d20f2019x250x0.jpg" width=100></font></p>

<p style="border:none;margin-bottom:6.0pt;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;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">Consolidated
statements of changes in equity for the years ended December 31, 2019, 2018 and
2017</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_EEFF_Var.Patrimonio2_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:9.0pt;">
  <td colspan=15 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=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">CONSOLIDATED
  STATEMENTS OF CHANGES IN EQUITY (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=21% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Capital</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">(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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Share Premium (Note 27)</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Other Equity </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">&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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Retained earnings </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">(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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Revaluation reserves</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">&#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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Other reserves</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">(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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">(-) Treasury shares (Note 29)</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">(-) Interim dividends (Note 4)</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">Accumulated other comprehensive income</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">&#160;(Note 30)</font></b></font></p>
  </td>
 <td colspan=2 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:54.0pt;">
  <td width=21% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2018</font></b></font></p>
  </td>
 <td width=5% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">Accumulated other comprehensive income (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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Other</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">(Note 31)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">Balances as
  of January 1, 2018 as originally filed (*)</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">3,267</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">23,992</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">54</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">25,474</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">12</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">(44)</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">(96)</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">3,519</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(1,043)</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(8,792)</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(3,378)</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">10,358</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">53,323</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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=EN-US style="font-size:5.5pt;">Effect of
  changes in accounting policies</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">(2,579)</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">9</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">(5)</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(129)</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">1,756</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">850</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(822)</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(919)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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;"><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">&#160;&#160;&#160; Of which:
  prospective changes in accounting policies (**)</font></i></font></p>
  </td>
 <td nowrap width=6% 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 face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=6% 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 face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=6% 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 face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=6% 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 face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:5.5pt;">(851)</font></i></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:5.5pt;">-</font></i></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:5.5pt;">-</font></i></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:5.5pt;">-</font></i></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:5.5pt;">-</font></i></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:5.5pt;">-</font></i></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:5.5pt;">(97)</font></i></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:5.5pt;">23</font></i></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:5.5pt;">7</font></i></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:5.5pt;">(919)</font></i></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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;"><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">&#160;&#160;&#160; Of which:
  retrospective changes in accounting policies</font></i></font></p>
  </td>
 <td nowrap width=6% 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 face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=6% 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 face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=6% 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 face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=6% 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 face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=6% 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;"><i><font color=black face=Arial,sans-serif style="font-size:5.5pt;">(1,728)</font></i></font></p>
  </td>
 <td nowrap width=6% 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;"><i><font color=black face=Arial,sans-serif style="font-size:5.5pt;">-</font></i></font></p>
  </td>
 <td nowrap width=6% 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;"><i><font color=black face=Arial,sans-serif style="font-size:5.5pt;">9</font></i></font></p>
  </td>
 <td nowrap width=6% 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;"><i><font color=black face=Arial,sans-serif style="font-size:5.5pt;">-</font></i></font></p>
  </td>
 <td nowrap width=6% 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;"><i><font color=black face=Arial,sans-serif style="font-size:5.5pt;">(5)</font></i></font></p>
  </td>
 <td nowrap width=5% 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;"><i><font color=black face=Arial,sans-serif style="font-size:5.5pt;">(129)</font></i></font></p>
  </td>
 <td nowrap width=5% 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;"><i><font color=black face=Arial,sans-serif style="font-size:5.5pt;">1,853</font></i></font></p>
  </td>
 <td nowrap width=5% 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;"><i><font color=black face=Arial,sans-serif style="font-size:5.5pt;">828</font></i></font></p>
  </td>
 <td nowrap width=5% 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;"><i><font color=black face=Arial,sans-serif style="font-size:5.5pt;">(828)</font></i></font></p>
  </td>
 <td nowrap width=5% 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;"><i><font color=black face=Arial,sans-serif style="font-size:5.5pt;">-</font></i></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% style="background:#5AC4C4;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 style="font-size:5.5pt;">Adjusted initial
  balance (**)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">3,267</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">23,992</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">54</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">22,895</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">12</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">(34)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">(96)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">3,514</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">(1,172)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">(7,036)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">(2,528)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">9,536</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">52,404</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">Total
  income/expense recognized</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">5,400</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(1,276)</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(1,247)</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">827</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">3,704</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">Other changes in
  equity</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">(4)</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">180</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">(10)</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">(23)</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">(199)</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">(3,514)</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">63</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">1,096</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">540</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(1,364)</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(3,234)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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:5.5pt;">Issuances of common
  shares</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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:5.5pt;">Issuances of
  preferred shares</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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=EN-US style="font-size:5.5pt;">Issuance of
  other equity instruments</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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=EN-US style="font-size:5.5pt;">Settlement or
  maturity of other equity instruments issued </font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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=EN-US style="font-size:5.5pt;">Conversion of
  debt on equity</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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:5.5pt;">Common Stock
  reduction</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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:5.5pt;">Dividend distribution</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(992)</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(4)</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(1,109)</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(378)</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(2,483)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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:5.5pt;">Purchase of treasury
  shares</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(1,684)</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(1,684)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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=EN-US style="font-size:5.5pt;">Sale or
  cancellation of treasury shares</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(24)</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">1,484</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">1,460</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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=EN-US style="font-size:5.5pt;">Reclassification
  of other equity instruments to financial liabilities</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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=EN-US style="font-size:5.5pt;">Reclassification
  of financial liabilities to other equity instruments</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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=EN-US style="font-size:5.5pt;">Transfers
  within total equity (see Note 2.2.20)</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">1,274</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(10)</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(19)</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(3,514)</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">1,172</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">1,096</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">540</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(540)</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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=EN-US style="font-size:5.5pt;">Increase/Reduction
  of equity due to business combinations</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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:5.5pt;">Share based payments</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(19)</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(19)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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=EN-US style="font-size:5.5pt;">Other increases
  or (-) decreases in equity</font></font></p>
  </td>
 <td nowrap width=6% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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:5.5pt;">15</font></font></p>
  </td>
 <td nowrap width=6% 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:5.5pt;">(77)</font></font></p>
  </td>
 <td nowrap width=6% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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:5.5pt;">(446)</font></font></p>
  </td>
 <td nowrap width=5% 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:5.5pt;">(508)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% style="background:#5AC4C4;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 style="font-size:5.5pt;">Balances as of
  December 31, 2018</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">3,267</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">23,992</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">50</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">23,076</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">3</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">(58)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">(296)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">5,400</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">(1,109)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">(7,215)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">(3,236)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">9,000</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">52,874</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;page-break-after:avoid;text-align:justify;"><a name="XBRL_FS_983a54a66a20413aa6e19a150"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*)&#160;&#160; Balances as of December 31, 2017 as originally reported in
the consolidated Financial Statements for the year 2017.</font></font><a name="XBRL_FS_983a54a66a20413aa6e19a150_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_FS_76ae8feaf5134f228d4f0623f"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(**) The balance as of January 1, 2018, is the adjusted initial
balance less the prospective changes in accounting </font></font><a name="XBRL_FS_76ae8feaf5134f228d4f0623f_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">policies.</font></font></p>

<p style="border:none;margin:0cm;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:8.0pt;line-height:115%;">The accompanying Notes 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-11</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_252"></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:12.0pt;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;"><img border=0 height=35 id="Imagen 7" src="d20f2019x251x0.jpg" width=100></font></p>

<p style="border:none;margin-bottom:6.0pt;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;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">Consolidated
statements of changes in equity for the years ended December 31, 2019, 2018 and
2017</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_EEFF_Var.Patrimonio3_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:9.0pt;">
  <td colspan=15 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=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">CONSOLIDATED
  STATEMENTS OF CHANGES IN EQUITY (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=21% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Capital</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">(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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Share Premium (Note 27)</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Other Equity </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">&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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Retained earnings </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">(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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Revaluation reserves</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">&#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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Other reserves</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">(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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">(-) Treasury shares (Note 29)</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">(-) Interim dividends (Note 4)</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">Accumulated other comprehensive income</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">&#160;(Note 30)</font></b></font></p>
  </td>
 <td colspan=2 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:54.0pt;">
  <td width=21% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2017</font></b></font></p>
  </td>
 <td width=5% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">Accumulated other comprehensive income (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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Other</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">(Note 31)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=21% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">Balances as
  of January 1, 2017 as originally filed (*)</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">3,218</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">23,992</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">54</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">23,688</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">20</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">(67)</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">(48)</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">3,475</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(1,510)</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(5,458)</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(2,246)</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">10,310</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">55,428</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=21% 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=EN-US style="font-size:5.5pt;">Effect of
  changes in accounting policies</font></font></p>
  </td>
 <td nowrap width=6% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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:5.5pt;">(1,813)</font></font></p>
  </td>
 <td nowrap width=6% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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:5.5pt;">7</font></font></p>
  </td>
 <td nowrap width=6% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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:5.5pt;">82</font></font></p>
  </td>
 <td nowrap width=5% 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:5.5pt;">(111)</font></font></p>
  </td>
 <td nowrap width=5% 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:5.5pt;">1,836</font></font></p>
  </td>
 <td nowrap width=5% 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:5.5pt;">817</font></font></p>
  </td>
 <td nowrap width=5% 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:5.5pt;">(817)</font></font></p>
  </td>
 <td nowrap width=5% 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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=21% style="background:#5AC4C4;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 style="font-size:5.5pt;">Balance as of January
  1, 2017</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">3,218</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">23,992</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">54</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">21,875</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">20</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">(60)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">(48)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">3,557</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">(1,621)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">(3,622)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">(1,429)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">9,493</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">55,428</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=21% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">Total
  income/expense recognized</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">3,514</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(3,317)</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(1,122)</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">1,243</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">318</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=21% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">Other changes in
  equity</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">50</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">1,872</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">(8)</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">25</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">(48)</font></b></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">(3,557)</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">449</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(1,207)</font></b></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">(2,423)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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:5.5pt;">Issuances of common
  shares</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">50</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">(50)</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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:5.5pt;">Issuances of
  preferred shares</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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=EN-US style="font-size:5.5pt;">Issuance of
  other equity instruments</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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=EN-US style="font-size:5.5pt;">Settlement or
  maturity of other equity instruments issued </font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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=EN-US style="font-size:5.5pt;">Conversion of
  debt on equity</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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:5.5pt;">Common Stock reduction</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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:5.5pt;">Dividend distribution</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">9</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(9)</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(1,029)</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(290)</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(1,318)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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:5.5pt;">Purchase of treasury
  shares</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(1,674)</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(1,674)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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=EN-US style="font-size:5.5pt;">Sale or
  cancellation of treasury shares</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">1</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">1,626</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">1,627</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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=EN-US style="font-size:5.5pt;">Reclassification
  of other equity instruments to financial liabilities</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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=EN-US style="font-size:5.5pt;">Reclassification
  of financial liabilities to other equity instruments</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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:5.5pt;">Transfers within
  total equity</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">1,902</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(8)</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">41</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(3,557)</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">1,621</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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=EN-US style="font-size:5.5pt;">Increase/Reduction
  of equity due to business combinations</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=21% 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:5.5pt;">Share based payments</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(22)</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(22)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=21% 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=EN-US style="font-size:5.5pt;">Other increases
  or (-) decreases in equity</font></font></p>
  </td>
 <td nowrap width=6% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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:5.5pt;">22</font></font></p>
  </td>
 <td nowrap width=6% 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:5.5pt;">9</font></font></p>
  </td>
 <td nowrap width=6% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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:5.5pt;">(6)</font></font></p>
  </td>
 <td nowrap width=6% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=6% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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:5.5pt;">(144)</font></font></p>
  </td>
 <td nowrap width=5% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=5% 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:5.5pt;">(917)</font></font></p>
  </td>
 <td nowrap width=5% 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:5.5pt;">(1,035)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=21% style="background:#5AC4C4;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 style="font-size:5.5pt;">Balances as of
  December 31, 2017</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">3,267</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">23,992</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">-</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">54</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">23,746</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">12</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">(34)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">(96)</font></b></font></p>
  </td>
 <td nowrap width=6% style="background:#5AC4C4;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 style="font-size:5.5pt;">3,514</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">(1,172)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">(6,939)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">(2,551)</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">9,529</font></b></font></p>
  </td>
 <td nowrap width=5% style="background:#5AC4C4;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 style="font-size:5.5pt;">53,323</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;page-break-after:avoid;text-align:justify;"><a name="XBRL_FS_7d1d99e69cce4f4c932bf7b0c"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*)&#160;&#160; Balances as of December 31, 2016 as originally reported in
the consolidated Financial Statements for the year 2016.</font></font><a name="XBRL_FS_7d1d99e69cce4f4c932bf7b0c_bclEnd"></a></p>

<p style="border:none;margin:0cm;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:8.0pt;line-height:115%;">The accompanying Notes are an integral part of the consolidated financial
statements.</font></font></p>



<font face=Arial,sans-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-12</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_253"></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;"><img border=0 height=35 id="Imagen 8" src="d20f2019x252x0.jpg" width=100></font></p>

<p style="border:none;margin-bottom:6.0pt;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;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">Consolidated
statements of cash flows for the years ended December 31, 2019, 2018 and 2017</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_EEFF_Flujos_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:9.0pt;">
  <td colspan=5 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=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">CONSOLIDATED
  FINANCIAL STATEMENTS OF CASH FLOWS (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=52% 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 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2019</font></b></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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2018</font></b></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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">A) CASH FLOWS
  FROM OPERATING ACTIVITIES&#160; (1 + 2 + 3 + 4 + 5)</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">(8,214)</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">9,249</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">1,722</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">1. Profit for the
  year</font></b></font></p>
  </td>
 <td nowrap width=12% 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 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 nowrap width=12% 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 style="font-size:5.5pt;">4,345</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">6,227</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">4,757</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">2.
  Adjustments to obtain the cash flow from operating activities</font></b></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:5.5pt;">9,582</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">7,619</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">8,531</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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:5.5pt;">Depreciation and
  amortization</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">1,599</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">1,208</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">1,387</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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:5.5pt;">Other adjustments</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">7,983</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">6,411</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">7,144</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">3. Net
  increase/decrease in operating assets </font></b></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:5.5pt;">(36,747)</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(12,094)</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(5,227)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=EN-US style="font-size:5.5pt;">Financial
  assets held for trading</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(11,664)</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">1,379</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">5,662</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% 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=EN-US style="font-size:5.5pt;">Non-trading
  financial assets mandatorily at fair value through profit or loss</font></font></p>
  </td>
 <td width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(318)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(643)</font></font></p>
  </td>
 <td nowrap width=12% style="background:#A7A7A7;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=EN-US style="font-size:5.5pt;">Other financial
  assets designated at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">99</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">349</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(783)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=52% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">Financial
  assets at fair value through other comprehensive income</font></font></p>
  </td>
 <td nowrap width=12% style="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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(3,755)</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(206)</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">5,032</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=EN-US style="font-size:5.5pt;">Financial
  assets at amortized cost</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(24,119)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(12,067)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(14,836)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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:5.5pt;">Other operating
  assets</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">3,010</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">(906)</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">(302)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">4. Net
  increase/decrease in operating liabilities </font></b></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:5.5pt;">16,208</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">10,286</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(3,916)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=EN-US style="font-size:5.5pt;">Financial
  liabilities held for trading</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">8,061</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(466)</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(6,057)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=EN-US style="font-size:5.5pt;">Other financial
  liabilities designated at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">2,680</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">1,338</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">19</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=EN-US style="font-size:5.5pt;">Financial
  liabilities at amortized cost</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">8,016</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">10,481</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">2,111</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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:5.5pt;">Other operating
  liabilities</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">(2,549)</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">(1,067)</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">11</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">5.
  Collection/Payments for income tax</font></b></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:5.5pt;">(1,602)</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(2,789)</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(2,423)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">B) CASH FLOWS
  FROM INVESTING ACTIVITIES&#160; (1 + 2)</font></b></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:5.5pt;">98</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">7,516</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">2,902</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">1. Investment </font></b></font></p>
  </td>
 <td nowrap width=12% 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 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 nowrap width=12% 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 style="font-size:5.5pt;">(1,494)</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(2,154)</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(2,339)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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:5.5pt;">Tangible assets</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(852)</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(943)</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(777)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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:5.5pt;">Intangible assets</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(528)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(552)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(564)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=EN-US style="font-size:5.5pt;">Investments in
  joint ventures and associates</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(114)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(150)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(101)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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:5.5pt;">Other business units</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(20)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(897)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=EN-US style="font-size:5.5pt;">Non-current
  assets classified as held for sale and associated liabilities</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(489)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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:5.5pt;">Held-to-maturity
  investments</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:#A7A7A7;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:#A7A7A7;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=EN-US style="font-size:5.5pt;">Other
  settlements related to investing activities</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">2. Divestments</font></b></font></p>
  </td>
 <td nowrap width=12% 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 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 nowrap width=12% 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 style="font-size:5.5pt;">1,592</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">9,670</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">5,241</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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:5.5pt;">Tangible assets</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">128</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">731</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">518</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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:5.5pt;">Intangible assets</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">47</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=EN-US style="font-size:5.5pt;">Investments in
  joint ventures and associates</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">98</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">558</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">18</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=EN-US style="font-size:5.5pt;">Subsidiaries
  and other business units</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">5</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">4,268</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">936</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=EN-US style="font-size:5.5pt;">Non-current
  assets classified as held for sale and associated liabilities</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">1,198</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">3,917</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">1,002</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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:5.5pt;">Held-to-maturity
  investments</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:#A7A7A7;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:#A7A7A7;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">2,711</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=EN-US style="font-size:5.5pt;">Other
  collections related to investing activities</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">162</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">196</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">9</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">C) CASH FLOWS
  FROM FINANCING ACTIVITIES&#160;&#160; (1 + 2)</font></b></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:5.5pt;">(2,702)</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(5,092)</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(98)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">1. Payments</font></b></font></p>
  </td>
 <td nowrap width=12% 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 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 nowrap width=12% 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 style="font-size:5.5pt;">(7,418)</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(8,995)</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(5,763)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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:5.5pt;">Dividends</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(2,147)</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(2,107)</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(1,698)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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:5.5pt;">Subordinated
  liabilities</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(3,571)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(4,825)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(2,098)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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:5.5pt;">Treasury stock
  amortization</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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:5.5pt;">Treasury stock
  acquisition</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(1,088)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(1,686)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">(1,674)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=EN-US style="font-size:5.5pt;">Other items
  relating to financing activities</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">(612)</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">(377)</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">(293)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.5pt;">2. Collections</font></b></font></p>
  </td>
 <td nowrap width=12% 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 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 nowrap width=12% 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 style="font-size:5.5pt;">4,716</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">3,903</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">5,665</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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:5.5pt;">Subordinated
  liabilities</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">3,381</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">2,451</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">4,038</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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:5.5pt;">Treasury shares
  increase</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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:5.5pt;">Treasury shares
  disposal</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">1,335</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">1,452</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.5pt;">1,627</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=EN-US style="font-size:5.5pt;">Other items
  relating to financing activities</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% 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:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">D) EFFECT OF
  EXCHANGE RATE CHANGES</font></b></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:5.5pt;">(258)</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(2,498)</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">(4,266)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">E) NET
  INCREASE/DECREASE IN CASH OR CASH EQUIVALENTS (A+B+C+D)</font></b></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:5.5pt;">(11,077)</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">9,175</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">261</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">F) CASH AND
  CASH EQUIVALENTS AT BEGINNING OF THE YEAR</font></b></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:5.5pt;">54,167</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">44,992</font></b></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">44,978</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% style="background:#5AC4C4;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=EN-US style="font-size:5.5pt;">G) CASH AND
  CASH EQUIVALENTS AT END OF THE YEAR (E+F)</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:5.5pt;">43,090</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:5.5pt;">54,167</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:5.5pt;">45,239</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap valign=bottom width=52% style="border:none;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif lang=EN-US style="font-size:5.5pt;">COMPONENTS OF
  CASH AND EQUIVALENT AT END OF THE YEAR (Millions of Euros)</font></font></p>
  </td>
 <td nowrap width=12% style="background:#E9E9E9;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=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=12% style="background:#E9E9E9;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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=12% style="background:#E9E9E9;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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=12% style="background:#E9E9E9;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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">Notes</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2019</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2018</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.5pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=52% 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:5.5pt;">Cash</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">9</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">7,060</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">6,346</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">6,220</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=52% 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=EN-US style="font-size:5.5pt;">Balance of cash
  equivalent in central banks</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">9, 14</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">36,031</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">47,821</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">39,018</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=52% 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:5.5pt;">Other financial
  assets</font></font></p>
  </td>
 <td nowrap width=12% 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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=52% 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=EN-US style="font-size:5.5pt;">Less: Bank
  overdraft refundable on demand</font></font></p>
  </td>
 <td nowrap width=12% 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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:5.5pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=52% style="background:#5AC4C4;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=EN-US style="font-size:5.5pt;">TOTAL CASH AND
  CASH EQUIVALENTS AT END OF THE YEAR</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:5.5pt;">43,090</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:5.5pt;">54,167</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:5.5pt;">45,239</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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The accompanying Notes are an integral part of the consolidated financial
statements.</font></font></p>

<p style="-sec-extract:summary;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="_Toc376972273"></a><a name="_Toc376949865"></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-13</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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<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 color=#072146 face=Arial,sans-serif style="border:none;"><img border=0 height=35 src="d20f2019x253x0.jpg" width=100></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_b586253abe9a449a8b6ae01bd"></a><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;line-height:115%;">Notes to the accompanying Consolidated Financial
Statements</font></b></font><a name="XBRL_TS_b586253abe9a449a8b6ae01bd_bclEnd"></a><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;line-height:115%;"> &nbsp;</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:avoid;text-align:justify;text-indent:0cm;"><a name="_Toc376972274"></a><a name="_Toc376949866"></a><a name="XBRL_TS_d4ce379f213e4417be60106de"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">1.&#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_d4ce379f213e4417be60106de_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;"> &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:avoid;text-align:justify;"><a name="XBRL_TS_fc67be817be84abfbe6c289f5"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">1.1&#160;&#160;
Introduction</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:8.0pt;line-height:115%;">Banco Bilbao
Vizcaya Argentaria, S.A. (hereinafter &#8220;the Bank&#8221; or &#8220;BBVA&quot;) is 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.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">The Bylaws and
other public information are available for inspection at the Bank&#8217;s registered
address (Plaza San Nicol&#225;s, 4 Bilbao) as noted on its web site (www.bbva.com).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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, the &#8220;Group&#8221; or the &#8220;BBVA Group&#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></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">As of December 31,
2019, the BBVA Group had 288 consolidated entities and 54 entities accounted
for using the equity method (see Notes 3 and 16 and Appendix I to V).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">The Consolidated
Financial Statements of the BBVA Group for the year ended December 31, 2019 have
been authorized for issue on February 28, 2020.</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;"><a name="XBRL_TS_bd0de0be2d79495d8d05b2278"></a><a name="_Toc376972275"></a><a name="_Toc376949867"></a><a name="XBRL_TS_fc67be817be84abfbe6c289f5_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">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:10.0pt;">Consolidated Financial Statements</font></b></font><a name="XBRL_TS_bd0de0be2d79495d8d05b2278_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_3abc92c6be2e4d338f00e3712"></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%;">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, 2019,
considering the Bank of Spain Circular 4/2017, and with any other legislation
governing financial reporting applicable to the Group in Spain (see Note 1.3). </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:8.0pt;line-height:115%;">The BBVA Group&#8217;s
accompanying Consolidated Financial Statements for the year ended December 31,
2019 were prepared by the Group&#8217;s Directors (through the Board of Directors
meeting held on February 10, 2020) 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, 2019, together with the consolidated results of its
transactions and cash flows generated during the year ended December 31, 2019.</font></font><a name="XBRL_TS_3abc92c6be2e4d338f00e3712_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_13735247dafa4a7abffe17be7"></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%;">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></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">All effective
accounting standards and valuation criteria with a significant effect in the
Consolidated Financial Statements were applied in their preparation.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">The percentage
changes in amounts have been calculated using figures expressed in thousands of
euros.</font></font><a name="XBRL_TS_13735247dafa4a7abffe17be7_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_9102ec3274b64f3c8becd080e"></a><a name="XBRL_TS_04a599abbd83471e8b3ecff3f"></a><a name="_Toc376972276"></a><a name="_Toc376949868"></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-14</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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:avoid;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:10.0pt;">1.3&#160;&#160;
Comparative 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-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:8.0pt;line-height:115%;">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:8.0pt;line-height:115%;">As of January 1,
2019, IFRS 16 &#8220;Leases&#8221; replaced IAS 17 &#8220;Leases&#8221; and includes changes in the
lessee accounting model (see Note 2.2.19). This amendment was applied using the
modified retrospective method and the previous years have not been restated for
comparison purposes as allowed by the standard (see Note 2.3).</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;"><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Income taxes</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:8.0pt;line-height:115%;">As mentioned in Note 2.3 and
derived from the Annual improvements cycle to IFRSs 2015-2017, the amendment to
IAS 12 &#8211; &#8220;Income Taxes&#8221;&#160; requires that the tax impacts of the distribution of
dividends should be recorded under &quot;Tax expense or income related to
profit or loss from continuing operations&quot; in the consolidated income
statement for the year. Previously they were recorded under total equity. </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:8.0pt;line-height:115%;">In order for the information to be
comparable, the information for the years 2018 and 2017 has been restated,
recognizing a &#8364;76 million profit and a &#8364;5 million loss in the consolidated
financial statements for such years, respectively, under &#8220;Retained earnings&#8220;
and &#8220;Less: Interim dividends&#8221;. This has meant an increase of 1.4% and a
decrease of 0.1% in the &#8220;Profit or loss attributable to owners of the parent&#8221;
for the years 2018 and 2017, respectively with respect to amounts previously
presented in the consolidated Financial Statements for the year ended December
31, 2018 and 2017. This reclassification has had no impact on the consolidated
total equity.</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 color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Operating segments</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:8.0pt;line-height:115%;">During 2019, there have been
changes to the BBVA Group business segments in comparison to the segment
structure in 2018 (See Note 6). The information related to business segments as
of and for the years ended December 31, 2018 and 2017 has been restated in
order to make them comparable, as required by IFRS 8 &#8220;Information by business
segments&#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;"><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Hyperinflationary economies</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:8.0pt;line-height:115%;">In 2018, the information as of
December 31, 2017 was restated for comparative purposes taking into account the
change in accounting policies for hyperinflationary economies in accordance
with IAS 29 &quot;Financial information in hyperinflationary economies&quot;
(see Note 2.2.20). </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 color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Application of IFRS 9</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:8.0pt;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 included 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 was not applied retrospectively for previous years. As a
consequence of the application of IFRS 9, the comparative information for the
financial year 2017 included in these Consolidated Financial Statements was
subject to some non-significant modifications in order to improve the
comparability.</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;"><a name="_Toc376972277"></a><a name="_Toc376949869"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">1.4&#160;&#160; Seasonal nature of income and expense</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:8.0pt;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, and are
not significantly affected by seasonal factors within the same year.</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;"><a name="_Toc376972278"></a><a name="_Toc376949870"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">1.5&#160;&#160; Responsibility for the information and for the estimates
made</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:8.0pt;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></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:8.0pt;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, expense and commitments.
These estimates relate mainly to 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 color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">Loss allowances on certain
financial assets (see Notes 7, 12, 13, 14 and 16).</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=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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:36.0pt;margin-right:0cm;margin-top:12.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">The recoverability of deferred tax
assets (see Note 19).</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-15</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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:8.0pt;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></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">During 2019 there
were no significant changes to the assumptions and estimations performed as of
December 31, 2018, except as indicated in these Consolidated Financial
Statements.</font></font><a name="XBRL_TS_04a599abbd83471e8b3ecff3f_bclEnd"></a><a name="XBRL_TS_9102ec3274b64f3c8becd080e_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-36.0pt;"><a name="XBRL_TS_eb8c421fd5a24b1994e898c8e"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">1.6&#160;&#160; BBVA Group&#8217;s Internal
Control over Financial Reporting</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:8.0pt;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 support that the transactions are
processed in accordance with the applicable laws and regulations.</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:8.0pt;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:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">The establishment of an appropriate
control framework.</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=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">The monitoring activities over the
controls to support they perform correctly and are effective over time.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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></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:8.0pt;line-height:115%;">&#160;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:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">A control system organi</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:8.0pt;line-height:115%;">zed into three lines of defense that has been
updated&#160; and strengthened in 2019 :</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:57.55pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</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:8.0pt;line-height:115%;">The first line of
defense (1LoD) is located within the business and support units, which are
responsible for identifying risks associated with their processes, as well as
for implementing and executing the necessary controls to mitigate them. In
2019, in order to reinforce the adequate risk management in each areas
processes, the role of the Risk Control Assurer was created. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:57.55pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</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:8.0pt;line-height:115%;">The second line of
defense (2LoD) comprises the specialized control units for each type of risk
(Legal, IT, Third Party, Finance, Compliance or Processes among others). This
second line defines the mitigation and control frameworks for their areas of
responsibility across the entire organization and performs challenge to the
control model (supervises the implementation and design of the controls and
assesses their effectiveness). </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:57.55pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</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:8.0pt;line-height:115%;">The third line of
defense (3LoD) 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:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">A </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">committee</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:8.0pt;line-height:115%;">
structure, called Corporate Assurance, which enables the escalation of possible
weaknesses and 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_eb8c421fd5a24b1994e898c8e_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:8.0pt;line-height:115%;">The internal control units within Finance comply with a common and
standard methodology established at the 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=185 src="d20f2019x255x0.gif" width=597></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_bcae07edd3a0452e9ae2a0aef"></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%;">The ICFR Model is subject to annual evaluations by the Group&#8217;s
Internal Audit Unit. It is also supervised by the Audit Committee of the Bank&#8217;s
Board of Directors.</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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_257"></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:8.0pt;line-height:115%;">The BBVA Group is also required to comply with the 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 support
the quality and accuracy of the financial information.</font></font><a name="XBRL_TS_bcae07edd3a0452e9ae2a0aef_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;text-indent:0cm;"><a name="XBRL_TS_dadc63f006d24ccd88bea0c28"></a><a name="_Toc505355935"></a><a name="_Toc495478116"></a><a name="_Toc481589064"></a><a name="_Toc457490009"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">2.&#160;&#160;
Principles of consolidation, accounting policies and measurement bases applied
and recent IFRS pronouncements</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:8.0pt;line-height:115%;">The Glossary
includes the definition of some of the financial and economic terms used in
Note 2 and subsequent Notes of the accompanying consolidated Financial
Statements.<a name="Nota_2_1"></a><a name="Nota_2_1_bclEnd"></a></font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-36.0pt;"><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:10.0pt;">2.1&#160;&#160; Principles of consolidation</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:8.0pt;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:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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 style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Subsidiaries</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:17.85pt;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:8.0pt;line-height:115%;">Subsidiaries are entities
controlled by the Group (for definition of control, see Glossary). 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:17.85pt;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:8.0pt;line-height:115%;">Note 3 includes information related
to the main subsidiaries in the Group as of December 31, 2019. Appendix I
includes other significant information on all entities.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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 style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Joint ventures</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:17.85pt;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:8.0pt;line-height:115%;">Joint ventures are those entities
for 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:17.85pt;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:8.0pt;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 as of
December 31, 2019. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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 style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Associates</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:17.85pt;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:8.0pt;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></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:17.85pt;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:8.0pt;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 </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">&#8220;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:8.0pt;line-height:115%;">&#8221; or &#8220;Non-trading financial assets mandatorily 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:8.0pt;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:8.0pt;line-height:115%;"> &nbsp;</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:17.85pt;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:8.0pt;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, 2019, 2018 and 2017 these entities are not significant to the Group. </font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:17.85pt;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:8.0pt;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:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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 style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Structured Entities</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:17.85pt;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:8.0pt;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>

<p style="border:none;margin-bottom:4.0pt;margin-left:17.85pt;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:8.0pt;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></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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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:4.0pt;margin-left:17.85pt;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:8.0pt;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, assessing whether the Group has
control over the relevant elements, exposure to variable returns from
involvement with the investee and the ability to use control 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:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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 style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Structured entities subject
to consolidation</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:17.85pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;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;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:6.0pt;margin-left:54.0pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:6.0pt;margin-left:54.0pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Potential existence of a special
relationship with the investee.</font></font><a name="XBRL_TS_dadc63f006d24ccd88bea0c28_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:54.0pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><a name="XBRL_TS_36664610199c463baf319b8f4"></a><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Implicit or explicit Group
commitments to support the investee.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:54.0pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:6.0pt;margin-left:18.0pt;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:8.0pt;line-height:115%;">This type of entities include 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:6.0pt;margin-left:18.0pt;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:8.0pt;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:6.0pt;margin-left:18.0pt;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:8.0pt;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:4.0pt;margin-left:17.85pt;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:8.0pt;line-height:115%;">For additional information on the
accounting treatment for the transfer and derecognition of financial
instruments, see Note 2.2.2. &#8220;Transfers and derecognition of financial assets
and liabilities&#8221;.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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 style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Non-consolidated structured
entities</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:14.2pt;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:8.0pt;line-height:115%;">&#160;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 IFRS 10 &#8211; &#8220;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:14.2pt;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:8.0pt;line-height:115%;">As of December 31, 2019, 2018 and
2017 there was no material financial support from the Bank or its subsidiaries
to unconsolidated structured entities.</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:14.2pt;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:8.0pt;line-height:115%;">The Group does not consolidate any
of the mutual funds it manages since the necessary control conditions are not
met. 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:14.2pt;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:8.0pt;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 carrying 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></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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 year only include 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:8.0pt;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, 2019, financial
statements as of December 31 of all Group entities were utilized except for the
case of the consolidated financial statements of 6 associates deemed
non-significant for which financial statements as of November 30, 2019 were
used for 5 of them and the financial statements as of October 31, 2019 were
used for 1 of them.</font></font><a name="XBRL_TS_36664610199c463baf319b8f4_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-36.0pt;"><a name="XBRL_TS_2d6bd4f5b07e46c7893af0537"></a><a name="XBRL_TS_37d69cd3f14b4672bd2bc2e86"></a><a name="_Toc376972283"></a><a name="_Toc376949875"></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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-36.0pt;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">2.2&#160;&#160; Accounting
policies and valuation criteria applied</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:8.0pt;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:8.0pt;line-height:115%;">The accounting
standards and policies and valuation criteria used in preparing the
accompanying Consolidated Financial Statements are as follows:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:49.6pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-49.6pt;"><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:9.0pt;">2.2.1&#160;&#160; <a name="XBRL_TS_f9d236eb1e29427099315c7a1"></a>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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">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. Currently, the Group has
elected to continue the application of IAS 39 for hedge accounting, as
permitted by IFRS 9. The disclosures for the financial year 2017 related to the
measurement of financial assets and liabilities, the definition of impaired
financial assets, and the method for calculating the impairment on financial
assets, which are presented for the purpose of comparability, are based on the
accounting policies and valuation criteria applicable under IAS 39.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">The main aspects
regarding IAS 39, applicable until December 31, 2017, are as follows:</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 color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Measurement
of financial instruments</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:8.0pt;line-height:115%;">IAS 39 established the following three categories for the
recognition of financial assets, not applicable under IFRS 9, valued 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=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">&#8220;Available-for-sale financial
assets&#8221;: Assets recognized under this heading were measured at their fair
value. Subsequent changes in fair value (gains or losses) were recognized
temporarily net of tax effect, under the heading &#8220;Accumulated other
comprehensive income- Items that may be reclassified to profit or loss
-Available-for-sale financial assets&#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=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">&#8220;Loans and receivables&#8221; and
&#8220;Held-to-maturity investments&#8221;: Assets and liabilities recognized under these
headings were subsequently measured at &#8220;amortized cost&#8221; using the &#8220;effective
interest rate&#8221; method. This was because the consolidated entities generally
intend to hold such financial instruments to maturity.</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=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">Equity instruments whose fair value
could not 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 were recorded at acquisition cost;
adjusted, where appropriate, for any impairment loss.</font></font><a name="XBRL_TS_f9d236eb1e29427099315c7a1_bclEnd"></a></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 color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Impairment
losses on 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:8.0pt;line-height:115%;">The method for
calculating the impairment of financial assets under IAS 39 was based on
incurred losses; impairment losses were recognized only if there was objective
evidence of impairment. In other words, an event of a loss had to occur after
initial recognition, so that the impairment loss could have been recognized.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">First, the Group
would determine whether there was objective evidence of impairment individually
for individually significant debt instruments, and collectively for debt
instruments that were not individually significant. If the Group determined
that there was no objective evidence of impairment, the assets were classified
in groups of debt instruments based on similar risk characteristics and
impairment was 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:8.0pt;line-height:115%;">The impairment on
financial assets was determined by type of instrument and other circumstances
that could have affected it, taking into account the guarantees received to
assure (in part or in full) the performance of the 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:8.0pt;line-height:115%;">The information
used under such model was past information, adjusted in order to reflect the
effect of the conditions in such reporting period, which did not affect the
period matching past information, and avoid the effect of the conditions that
did not exist. The model did not allow the use of prospective 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:8.0pt;line-height:115%;">In the case of
equity instruments classified as available for sale, valued at fair value, when
there was objective evidence that the negative differences that arose on
measurement of these equity instruments were due to impairment, they were no
longer registered as &#8220;Accumulated other comprehensive income - Items that may
be reclassified to profit or loss - Available-for-sale financial assets&#8221; and
were recognized in the consolidated income statement. In general, the Group
considered that there was objective evidence of impairment on equity
instruments classified as available-for-sale when significant unrealized losses
had 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. When applying this evidence
of impairment, the Group took into account the volatility in the price of each
individual equity instrument to determine whether it was a percentage that
could be recovered through its sale in the market; other different thresholds
could have existed for certain equity instruments or specific sectors. In
addition, for individually significant investments, the Group compared 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;page-break-after:avoid;text-align:justify;text-indent:0cm;"><a name="XBRL_CS_ca8c1d737f734e2ba863ac3a9"></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:8.0pt;line-height:115%;">Classification and measurement of financial assets</font></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:0cm;"><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Classification
of financial assets</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:8.0pt;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><a name="XBRL_TS_37d69cd3f14b4672bd2bc2e86_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_7ff01cb57aa34a69bca4b3d3f"></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-19</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_260"></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: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:8.0pt;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;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:8.0pt;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:8.0pt;line-height:115%;">the two following conditions are fulfilled:</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=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">The financial asset is managed within
a business model whose purpose is to maintain the financial assets to maturity,
to receive contractual cash flows; 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 color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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;page-break-after:avoid;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:8.0pt;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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">The contractual characteristics of
the instrument generate 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:8.0pt;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:8.0pt;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 &#8220;other comprehensive income&#8221;.</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:8.0pt;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></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 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:normal;">Measurement of financial assets</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:8.0pt;line-height:115%;">All financial
instruments are initially recognized at fair value, plus those transaction
costs which are directly attributable to the issue of the particular instrument
for those cases in which financial assets are not classified 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:8.0pt;line-height:115%;">Excluding all
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:8.0pt;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 assets.</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 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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></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:8.0pt;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. Financial
assets are classified in &#8220;Financial assets designated at fair value through
profit or loss&#8221; 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:8.0pt;line-height:115%;">The assets recognized under these
headings of the consolidated balance sheet are measured upon acquisition at
fair value and changes in the fair value (gains or losses) are recognized as
their net value under the headings &#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 and loss, net&#8221; and &#8220;Gains
(losses) on financial assets designated at fair value through profit or loss,
net&#8221; in the accompanying consolidated income statement &#160;(see Note 41). Changes
in fair value resulting from variations in foreign exchange rates are
recognized under the heading Gains (losses) on financial assets and
liabilities, net in the accompanying consolidated income statements (Note 41).</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 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:normal;">&#8221;Financial assets at fair value through other comprehensive
income&#8221;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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:8.0pt;line-height:115%;">Assets recognized under this
heading in the consolidated balance sheets are measured at their fair value.
This category of valuation implies the recognition of the information in the
income statement as if it were an instrument valued at amortized cost, while
the instrument is valued at fair value in the balance sheet. Thus, both the
interests of these instruments and the exchange differences and impairment that
arise in their case are recorded in the profit and loss account, while subsequent
changes in its fair value (gains or losses) are recognized temporarily (by the
amount 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><a name="XBRL_TS_7ff01cb57aa34a69bca4b3d3f_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_2d78b04d97344b52a555938ff"></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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_261"></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: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:8.0pt;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; continue to form
part of the Group's consolidated equity until the corresponding asset is
derecognized from the consolidated balance sheet or until a loss allowance 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; (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:8.0pt;line-height:115%;">The net loss allowances in
&#8220;Financial assets at fair value through other comprehensive income&#8221; over the
year are recognized under the heading &#8220;Loss allowances on financial assets, net
&#8211; Financial assets at fair value through other comprehensive income&#8221; (see Note
47) in the consolidated income statement 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:8.0pt;line-height:115%;">Interests of these instruments are
recorded in the consolidated profit and loss account (see Note 37). Changes in
foreign exchange rates 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:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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:8.0pt;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></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 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:normal;">&#8220;Financial assets at amortized cost&#8221;</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:8.0pt;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:8.0pt;line-height:115%;">Net loss allowances 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_CS_ca8c1d737f734e2ba863ac3a9_bclEnd"></a></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 color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Classification
and measurement of financial liabilities </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;"><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:normal;">Classification of financial liabilities</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:8.0pt;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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">Financial liabilities at amortized
cost;</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=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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 the
initial moment of 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></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 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:normal;">Measurement of financial liabilities</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:8.0pt;line-height:115%;">All financial
instruments are initially recognized at fair value except for those transaction
costs which are directly attributable to the issue of the </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:8.0pt;line-height:115%;">particular </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:8.0pt;line-height:115%;">financial liability, </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:8.0pt;line-height:115%;">for those cases in which financial </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:8.0pt;line-height:115%;">liabilities are not classified 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:8.0pt;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:8.0pt;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></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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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:avoid;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:8.0pt;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></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:8.0pt;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 headings &#8220;Gains (losses) on financial assets and liabilities
held for trading, net&#8221; and &#8220;Gains (losses) on financial assets and liabilities
designated at fair value through profit or loss, 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:8.0pt;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:8.0pt;line-height:115%;">.
However, changes in fair value resulting from variations in foreign exchange
rates are recognized under the heading Gains (losses) on financial assets and
liabilities, net in the accompanying consolidated income statements (Note 41).</font></font><a name="XBRL_TS_2d78b04d97344b52a555938ff_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_c8d710b7387749a694b6026b3"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:normal;">&#8220;Financial
liabilities at amortized cost&#8221;</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:8.0pt;line-height:115%;">The liabilities under this category
are subsequently measured at amortized cost, using the &#8220;effective interest rate&#8221;
method.</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="XBRL_TS_c3b275e5894048a69af5f6408"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&#8220;</font></b></font><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Derivatives-Hedge Accounting&#8221; and &#8220;Fair value changes of the
hedged items in portfolio hedges of interest-rate risk</font></b></font><font face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&#8221;</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:8.0pt;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:8.0pt;line-height:115%;"> </font><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">value.&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-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%;">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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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 (losses) from hedge
accounting, net&#8221; in the consolidated income statement, with a </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">corresponding</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> offset under the
headings where hedging items (&quot;Hedging derivatives&quot;) and the hedged
items are recognized, as applicable, except for interest-rate risks hedges
(which are almost all of the hedges used by the Group), for which 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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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, with counterpart on the
headings &#8220;Derivatives-Hedge Accounting&#8221; 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 (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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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 &#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 </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Assets</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> or Liabilities of the
consolidated balance sheets as applicable. These differences are recognized 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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">Differences in the measurement of
the hedging items corresponding to the ineffective portions of cash flow hedges
are recognized directly </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">in</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> the heading &#8220;Gains (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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">In the </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">hedges</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> 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_c3b275e5894048a69af5f6408_bclEnd"></a></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="XBRL_TS_0e6715049e064d5f911a52c9e"></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:8.0pt;">Loss allowances
on financial assets</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:avoid;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:8.0pt;">Definition of
impaired 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:8.0pt;line-height:115%;">The 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:8.0pt;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:8.0pt;line-height:115%;">.</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-22</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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:8.0pt;line-height:115%;">The 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;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%;">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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">Expected </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">loss</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> 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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">Expected </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">loss</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> 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:8.0pt;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><a name="XBRL_TS_c8d710b7387749a694b6026b3_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_636fcf3ca358437ab1932f9f5"></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%;">The BBVA
Group has applied the following definitions:</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:-21.25pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Default</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:21.3pt;margin-right:0cm;margin-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%;">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. Both qualitative and
quantitative indicators have been considered.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:21.3pt;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:8.0pt;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:57.55pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-17.85pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:57.55pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:21.3pt;margin-right:0cm;margin-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%;">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:8.0pt;line-height:115%;">As of December 31, 2019, 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:35.45pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-21.25pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Credit impaired asset</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:21.3pt;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:8.0pt;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:57.55pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Significant financial difficulty of
the issuer or the borrower,</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:57.55pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:57.55pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:57.55pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:57.55pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The disappearance of an active
market for that financial asset because of financial difficulties, or</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:57.55pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:21.3pt;margin-right:0cm;margin-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%;">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:21.3pt;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:8.0pt;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:35.45pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-21.25pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Significant increase in credit risk
</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:1.0cm;margin-right:0cm;margin-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%;">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 align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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:1.0cm;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:8.0pt;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:57.55pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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 the age of transactions
at the time of 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:57.55pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:35.45pt;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:8.0pt;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:57.55pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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. </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">As of December 31, 2019, 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:57.55pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Watch list: They are subject to
special watch by the Risk 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:57.55pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Refinance or restructuring that
does not show evidence of impairment.</font></font><a name="XBRL_TS_636fcf3ca358437ab1932f9f5_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_ca6b596a2e1240bca47b2b612"></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%;">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;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%;">Thus the classification of financial instruments subject to
impairment under IFRS 9 is as follows:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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:21.3pt;margin-right:0cm;margin-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%;">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 derived from defaults.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">Stage 2&#8211; significant
increases in credit risk</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:21.3pt;margin-right:0cm;margin-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%;">When the credit risk of a financial asset has increased
significantly since the initial recognition, the loss allowances 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:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=ES style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">Stage 3 &#8211; Impaired</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:17.85pt;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:8.0pt;line-height:115%;">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;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%;">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></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="XBRL_TS_0a66587342a544239793bd7ea"></a><a name="XBRL_TS_0e6715049e064d5f911a52c9e_bclEnd"></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:8.0pt;">Method for calculating expected credit loss </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;"><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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;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%;">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-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">the time value of money, 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 color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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:8.0pt;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>


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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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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;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%;">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-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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;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%;">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:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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><a name="XBRL_TS_ca6b596a2e1240bca47b2b612_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_589eb7a8dbf14c6ca78417ff8"></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%;">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:8.0pt;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 monitors 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;page-break-after:avoid;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:8.0pt;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:8.0pt;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:8.0pt;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 low. 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:8.0pt;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), interest rates,
unemployment rate and price of real estate properties.</font></font><a name="_Toc376972285"></a><a name="_Toc376949877"></a><a name="Nota_2_2_2"></a><a name="Nota_2_2_2_bclEnd"></a><a name="XBRL_TS_0a66587342a544239793bd7ea_bclEnd"></a><a name="XBRL_TS_2d6bd4f5b07e46c7893af0537_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;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">2.2.2&#160;&#160;
<a name="XBRL_TS_a86cd7c5d2704e209336781ac"></a>Transfers and derecognition of
financial assets and liabilities</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:9.0pt;"> &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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:8.0pt;">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;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%;">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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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>


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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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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;text-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">Both the income generated on the
transferred (but not derecognized) financial asset and the expense of the new
financial liability continue to be recognized.</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 color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Treatment of securitizations</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:8.0pt;line-height:115%;">The securitizations to which the Group entities transfer their
credit portfolios are consolidated entities of the Group. For more information,
refer to Note 2.1 &#8220;Principles of consolidation&#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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The Group considers that the risks and benefits of the
securitizations are substantially retained if the subordinated bonds are held
and/ or if subordination funding has been granted to those securitization funds,
which means that the credit loss risk of the securitized assets will be
assumed. Consequently, the Group is not derecognizing those transferred loan
portfolios.</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:8.0pt;line-height:115%;">On the other hand, the Group has carried out synthetic
securitizations, which are transactions where risk is transferred through
derivatives or financial guarantees and in which the exposure of these
securitizations remains in the balance sheet of the Group. The Group has
established the synthetic securitizations through received financial
guarantees. As for the commissions paid, they are accrued during the term of
the financial guarantee.</font></font><a name="XBRL_TS_a86cd7c5d2704e209336781ac_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:49.6pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-49.6pt;"><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:9.0pt;">2.2.3&#160;&#160; </font></b></font><a name="XBRL_TS_fdc23e22bf394ed183f231793"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">Financial guarantees</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:8.0pt;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><a name="XBRL_TS_589eb7a8dbf14c6ca78417ff8_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_cac3631a365045199370ad435"></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%;">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 recognizes 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>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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 loss allowances 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:8.0pt;line-height:115%;">The provisions
recognized for financial guarantees 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:8.0pt;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></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">Synthetic
securitizations made by the Group to date meet the requirements of the
accounting regulations for accounting as guarantees. </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Consideration as a financial guarantee means recognition of the
commission paid for it over the period.</font></font><a name="XBRL_TS_fdc23e22bf394ed183f231793_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_922bafdc8cb0437c81015044a"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">2.2.4&#160;&#160; Non-current assets
and disposal groups classified as held for sale and liabilities included in
disposal groups classified as held for sale</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:8.0pt;line-height:115%;">The headings
&#8220;Non-current assets and disposal groups classified as held for sale&#8221; and
&#8220;Liabilities included in disposal groups classified as held for sale&#8221; in the
consolidated balance sheet include 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:8.0pt;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
&#8220;Non-current assets and disposal groups classified as held for sale&#8221; 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:8.0pt;line-height:115%;">Symmetrically, the
heading &#8220;Liabilities included in disposal groups classified as held for sale&#8221;
in the consolidated balance sheet reflects the balances payable arising from
disposal groups and discontinued 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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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:8.0pt;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:8.0pt;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>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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 classified as 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:8.0pt;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 classified as 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:8.0pt;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:8.0pt;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;Gains (losses) 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><a name="XBRL_TS_cac3631a365045199370ad435_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_da82483747ff4efaaf23f2e36"></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%;">Income and expense 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 (loss) after tax 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_922bafdc8cb0437c81015044a_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="_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:9.0pt;">2.2.5&#160;&#160; Tangible
assets</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:avoid;text-align:justify;"><a name="XBRL_TS_be3b898f3d4c40fe95e0a2e1e"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Property, plant
and equipment 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:8.0pt;line-height:115%;">This heading
includes the assets under ownership or acquired under lease terms (right to
use), 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 which are 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:8.0pt;line-height:115%;">For more
information regarding the accounting treatment of right to use assets under
lease terms, see Note 2.2.19 &quot;Leases&quot;.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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:8.0pt;line-height:115%;">Depreciation is
calculated using the straight-line method, during the useful life of the asset,
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></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:8.0pt;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_be3b898f3d4c40fe95e0a2e1e_bclEnd"></a><a name="XBRL_TS_da82483747ff4efaaf23f2e36_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_2.3_001_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td colspan=2 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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=57% 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=EN-US style="font-size:10.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=43% 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=EN-US style="font-size:10.0pt;">&nbsp;</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Type of assets</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Annual Percentage</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 style="font-size:8.0pt;">Buildings for own use</font></font></p>
  </td>
 <td nowrap width=43% 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 style="font-size:8.0pt;">1% - 4%</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 style="font-size:8.0pt;">Furniture</font></font></p>
  </td>
 <td nowrap width=43% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">8% - 10%</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 style="font-size:8.0pt;">Fixtures</font></font></p>
  </td>
 <td nowrap width=43% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">6% - 12%</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 style="font-size:8.0pt;">Office supplies and
  hardware</font></font></p>
  </td>
 <td nowrap width=43% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">8% - 25%</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-align:justify;"><a name="XBRL_TS_ca9647fbe0a143e99427980c9"></a><a name="XBRL_TS_faa1e214de9f46b3baa5ad1b8"></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-27</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_268"></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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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 (defined 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:8.0pt;line-height:115%;">Similarly, if
there is any indication that the value of a previously impaired 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:8.0pt;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
analyses 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:8.0pt;line-height:115%;">Operating and
maintenance expense 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
expense - Property, fixtures and materials&quot; (see Note 44.2).</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 color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Other assets
leased out under an operating lease</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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></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 color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Investment
properties</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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:8.0pt;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><a name="XBRL_TS_faa1e214de9f46b3baa5ad1b8_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_fd3892e783b941278c4e8c601"></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%;">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 such date. This fair value will be determined taking as references the
valuations performed by independent experts.</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;text-indent:0cm;"><a name="_Toc376949881"></a><a name="_Toc376972289"></a><a name="XBRL_TS_ca9647fbe0a143e99427980c9_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">2.2.6&#160;&#160; <a name="XBRL_TS_3287049c52aa4ff385b33d15d"></a>Inventories</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:8.0pt;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:8.0pt;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:8.0pt;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:8.0pt;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 net realizable value of the property, 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_3287049c52aa4ff385b33d15d_bclEnd"></a></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="XBRL_TS_3af36de1d7564acdb57c68340"></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-28</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</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;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-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=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">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:8.0pt;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 for the year in which they are
incurred (see Note 48).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">In the case of the
above mentioned real-estate assets, if the net realizable value 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_3af36de1d7564acdb57c68340_bclEnd"></a></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="XBRL_TS_93f743f0845c4bb6976bc02e9"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Inventory sales</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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 expense &#8211; Change 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; Gains from sales of non-financial
services&#8221; in the consolidated income statements (see Note 42).</font></font><a name="XBRL_TS_93f743f0845c4bb6976bc02e9_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="_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:9.0pt;">2.2.7&#160;&#160; </font></b></font><a name="XBRL_TS_c13298dd32684efd99d7e73a1"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">Business combinations</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:8.0pt;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 &#8220;acquisition
method&#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:8.0pt;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>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">In a business
combination achieved in stages, the acquirer shall measure 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;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%;">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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">the net fair value of the assets
acquired and liabilities assumed.</font></font><a name="XBRL_TS_fd3892e783b941278c4e8c601_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_5ba4629b369d4aec8f53cdc35"></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%;">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:8.0pt;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_c13298dd32684efd99d7e73a1_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="_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:9.0pt;">2.2.8&#160;&#160; Intangible assets</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:avoid;text-align:justify;"><a name="XBRL_TS_10ae7397c1464e21a2abaa232"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Goodwill</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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;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%;">Goodwill is assigned to one or more CGUs that expect to be the
beneficiaries of the synergies derived from the business combinations. The CGUs
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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">Is the lowest level at which the
entity manages goodwill internally.</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-29</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_270"></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:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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:8.0pt;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:8.0pt;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>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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:8.0pt;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:8.0pt;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_10ae7397c1464e21a2abaa232_bclEnd"></a></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="XBRL_TS_daceff10e2e84a9ebe122022b"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">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:8.0pt;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:8.0pt;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 amortization
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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The consolidated
entities recognize any impairment losses 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). 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_daceff10e2e84a9ebe122022b_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="_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:9.0pt;">2.2.9&#160;&#160; </font></b></font><a name="XBRL_TS_e19a2eff766540a4990918dd1"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">Insurance and reinsurance
contracts</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:8.0pt;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><a name="XBRL_TS_5ba4629b369d4aec8f53cdc35_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_30028c7120204fe2b63776f24"></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%;">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:8.0pt;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>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">The income or
expense 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:8.0pt;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:8.0pt;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>


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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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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;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%;">According to the type of
product, the provisions may be as follows:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">Life insurance provisions:</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:18.0pt;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:8.0pt;">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:6.0pt;margin-left:57.55pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Provisions for unearned premiums.
These are intended for the accrual, at the date of calculation, of the premiums
written. </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Their</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> 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:6.0pt;margin-left:57.55pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">Non-life insurance provisions:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:57.55pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:6.0pt;margin-left:57.55pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">Provision for claims:</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:35.4pt;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:8.0pt;">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:8.0pt;">claims incurred prior to year-end. Insurance subsidiaries calculate
this</font><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;"> </font><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">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:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">Provision for bonuses and rebates:</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:35.4pt;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:8.0pt;">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:8.0pt;">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>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">Technical provisions for
reinsurance ceded:</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:35.4pt;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:8.0pt;">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:8.0pt;">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:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=ES style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">Other technical provisions:</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:35.4pt;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:8.0pt;">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:8.0pt;">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:8.0pt;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_e19a2eff766540a4990918dd1_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="_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:9.0pt;">2.2.10&#160;&#160; </font></b></font><a name="XBRL_TS_09d4c6dc94574bd4becf39354"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">Tax assets and liabilities</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:8.0pt;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:8.0pt;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_09d4c6dc94574bd4becf39354_bclEnd"></a><a name="XBRL_TS_30028c7120204fe2b63776f24_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_1a2404a59ff1456ba613b8076"></a><a name="XBRL_TS_7d8b6586ab2d4284874256854"></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%;">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. These amounts
are registered by applying to each temporary difference the tax rates that are
expected to apply when the asset is realized or the liability settled (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:8.0pt;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>


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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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_272"></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:8.0pt;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 probable that the consolidated entities will generate enough taxable
profits to make deferred tax assets settle and do not correspond to those from
initial recognition (except in the case of business combinations), which also
does not affect the fiscal outcome.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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. 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_7d8b6586ab2d4284874256854_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_4fd29bdfdb92404ebb0772e0d"></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%;">The income and expense 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_4fd29bdfdb92404ebb0772e0d_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="_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:9.0pt;">2.2.11&#160;&#160; </font></b></font><a name="XBRL_TS_ed32705508b74929b4ca50d08"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">Provisions, contingent assets
and contingent liabilities</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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: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:8.0pt;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:8.0pt;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: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:8.0pt;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:8.0pt;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: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:8.0pt;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:8.0pt;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:8.0pt;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:8.0pt;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:8.0pt;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:8.0pt;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_ed32705508b74929b4ca50d08_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;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">2.2.12&#160;&#160;
<a name="XBRL_TS_2e740dd9c69844a38b1e8037b"></a>Pensions and other post-employment
commitments</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:8.0pt;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><a name="XBRL_TS_1a2404a59ff1456ba613b8076_bclEnd"></a></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="XBRL_TS_baeb91269aac476a8ed679a60"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">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:8.0pt;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 expense.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">Costs are charged
and recognized under the heading &#8220;Administration costs &#8211; Personnel expense &#8211;
Other personnel expense&#8221; of the consolidated income statement (see Note 44.1).</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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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:avoid;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:8.0pt;">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:8.0pt;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:8.0pt;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 expense&#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:avoid;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:8.0pt;">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:8.0pt;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:8.0pt;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:8.0pt;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:8.0pt;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:8.0pt;line-height:115%;">Current service
cost is charged and recognized under the heading &#8220;Administration costs &#8211; Personnel
expense &#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:8.0pt;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:8.0pt;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:avoid;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:8.0pt;">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:8.0pt;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>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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:avoid;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:8.0pt;">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:8.0pt;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;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%;">In establishing the actuarial assumptions we take into account
that:</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:8.0pt;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:8.0pt;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: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:8.0pt;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:8.0pt;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: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:8.0pt;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:8.0pt;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><a name="XBRL_TS_baeb91269aac476a8ed679a60_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_03d9e5c7a3a44c8d9b56d6c94"></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%;">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_2e740dd9c69844a38b1e8037b_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="_Toc376949888"></a><a name="_Toc376972296"></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-33</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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:avoid;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:9.0pt;">2.2.13&#160;&#160;
<a name="XBRL_TS_d658e75a471941be9be379782"></a>Equity-settled share-based payment transactions</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:8.0pt;line-height:115%;">Equity &#8211;settled
share-based payment transactions, provided they constitute the delivery of such
equity instruments once completion of a specific period of services has
occurred, 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:8.0pt;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_d658e75a471941be9be379782_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="_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:9.0pt;">2.2.14&#160;&#160; </font></b></font><a name="XBRL_TS_94dd8e0f134540d59ec2a6d36"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">Termination benefits</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:8.0pt;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_94dd8e0f134540d59ec2a6d36_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="_Toc376949890"></a><a name="_Toc376972298"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">2.2.15&#160;&#160; </font></b></font><a name="XBRL_TS_5c2dbecf688b411ea1725a7a9"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">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:9.0pt;">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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:8.0pt;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_5c2dbecf688b411ea1725a7a9_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="_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:9.0pt;">2.2.16&#160;&#160; </font></b></font><a name="XBRL_TS_61876357f693492caa81d674e"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">Foreign-currency transactions
and exchange differences</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:8.0pt;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;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%;">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: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:8.0pt;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:8.0pt;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: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:8.0pt;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:8.0pt;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_61876357f693492caa81d674e_bclEnd"></a></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="XBRL_TS_d802c1b01c2b4be79137d21d6"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">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;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%;">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: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:8.0pt;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:8.0pt;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: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:8.0pt;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:8.0pt;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: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:8.0pt;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:8.0pt;line-height:115%;">Monetary items are converted to the
functional currency at the closing exchange rate.</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:8.0pt;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:8.0pt;line-height:115%;">Income and expense 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><a name="XBRL_TS_03d9e5c7a3a44c8d9b56d6c94_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_4aec158f74b542b7b4ef0cd56"></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%;">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 recorded to equity
under the heading &#8220;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Accumulated other
comprehensive income or loss - Items not subject to reclassification to income
statement</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> - Fair value changes of equity
instruments measured at fair value through other comprehensive income&#8221; in the
consolidated balance sheets (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-34</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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:avoid;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:8.0pt;">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;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%;">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:35.45pt;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:8.0pt;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:8.0pt;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:35.45pt;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:8.0pt;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:8.0pt;line-height:115%;">Income and expense 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 during the year.</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:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:8.0pt;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:8.0pt;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:8.0pt;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 &#8220;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:8.0pt;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:8.0pt;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: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:8.0pt;">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:8.0pt;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.
Venezuela is a country with strong exchange restrictions that has different
rates officially published, and, since December 31, 2015, the Board of
Directors considers that the use of these 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 this country. Therefore, since
the year ended December 31, 2015, the exchange rate for converting bolivars
into euros is an estimation taking into account 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:8.0pt;line-height:115%;">As of December 31,
2019, 2018 and 2017, 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 (see Note 2.2.20).</font></font><a name="XBRL_TS_d802c1b01c2b4be79137d21d6_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;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">2.2.17&#160;&#160;
<a name="XBRL_TS_dd68f49de8f741f8bed6e6b83"></a>Recognition of income and expense</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The most significant policies used by the BBVA Group to recognize
its income and expense are as follows.</font></font><a name="XBRL_TS_dd68f49de8f741f8bed6e6b83_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-18.0pt;"><a name="XBRL_TS_ebf5bd9daee247aaa0605dcc7"></a><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:8.0pt;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:8.0pt;line-height:115%;">Interest income and expense and
similar items:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.4pt;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:8.0pt;line-height:115%;">As a general rule, </font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">interest income and expense 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:4.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;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:8.0pt;line-height:115%;">T</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">hey shall be recognized within the consolidated income statement according
to the following criteria, independently from the financial instruments&#8217;
portfolio which generates the income or expense:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.3pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:10.0pt;margin-left:53.3pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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 </font></font><font color=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">received</font></font><font color=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.4pt;margin-right:0cm;margin-top:0cm;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:8.0pt;line-height:115%;">The financial fees and commissions that arise on
the arrangement of loans and advances (basically origination and analysis</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> fees) are deferred and recognized in the income statement over
the expected life of the loan. 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: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:8.0pt;line-height:115%;">Once a 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_4aec158f74b542b7b4ef0cd56_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-18.0pt;"><a name="XBRL_TS_952bd784c06645e6936e57ddf"></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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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:18.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:8.0pt;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:8.0pt;line-height:115%;">Income from dividends received:</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;"><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Dividends shall be recognized 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:8.0pt;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:8.0pt;line-height:115%;">criteria,
independently from the financial instruments&#8217; portfolio which generates this
income:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.3pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:10.0pt;margin-left:53.3pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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_ebf5bd9daee247aaa0605dcc7_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-18.0pt;"><a name="XBRL_TS_45979ba187cf48aba3ca8a514"></a><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:8.0pt;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:8.0pt;line-height:115%;">Commissions, fees and similar
items:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.4pt;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:8.0pt;line-height:115%;">Income and expense relating to commissions and similar fees are
recognized in the consolidated income statement using criteria that vary
according to the nature of such items. The most significant items in this
connection are:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.3pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Those</font></font><font color=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> 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:10.0pt;margin-left:53.3pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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 </font></font><font color=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">transactions</font></font><font color=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> or services.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:53.3pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Those</font></font><font color=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> relating to a
singular transaction, which are recognized when this singular transaction is
carried out.</font></font><a name="XBRL_TS_45979ba187cf48aba3ca8a514_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-18.0pt;"><a name="XBRL_TS_e054bd245453457e8076a6eec"></a><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:8.0pt;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:8.0pt;line-height:115%;">Non-financial income and expense:</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:8.0pt;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:18.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-18.0pt;"><font face=Symbol style="border:none;"><font color=black face=Symbol lang=EN-US style="font-size:8.0pt;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:8.0pt;line-height:115%;">Deferred collections and payments:</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:8.0pt;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_e054bd245453457e8076a6eec_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="_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:9.0pt;">2.2.18&#160;&#160; </font></b></font><a name="XBRL_TS_43ec257d21264deb9ac6e4fa8"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">Sales of assets and income
from the provision of non-financial services</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:8.0pt;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_43ec257d21264deb9ac6e4fa8_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="_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:9.0pt;">2.2.19&#160;&#160; </font></b></font><a name="XBRL_TS_f80c1a1657cc45d19f9440108"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">Leases</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:8.0pt;line-height:115%;">Effective January 1, 2019, IFRS 16
replaced IAS 17 &#8220;Leases&#8221; (see Note 2.3). The single lessee accounting model
requires the lessee to record assets and liabilities for all lease contracts.
The standard provides two exceptions to the recognition of lease assets and
liabilities that can be applied in the case of short-term contracts and those
in which the underlying assets have low value. BBVA has elected to apply both
exceptions. A lessee is required to recognize a right-of-use asset representing
its right to use the underlying leased asset, which is recorded under the
headings &#8216;&#8216; Tangible assets &#8211; Property plants and equipment&#8217;&#8217; and&#8216;&#8216; Tangible assets
&#8211; Investment properties&#8217;&#8217; of the consolidated balance sheet (see Note 17) and a
lease liability representing its obligation to make lease payments which is
recorded under the heading &#8216;&#8216; Financial liabilities at amortized cost &#8211; Other
financial liabilities&#8217;&#8217; in the consolidated balance sheet (see Note 22.5).</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:8.0pt;line-height:115%;">At the initial date of the lease,
the lease liability represents the present value of all lease unpaid payments.
The liabilities registered under this heading of the consolidated balance
sheets are measured after their initial recognition at amortized cost, this
being determined in accordance with the &#8220;effective interest rate&#8221; method.</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:8.0pt;line-height:115%;">The right to
use assets are initially recorded at cost. This cost consists of the initial
measurement of the lease liability, any payment made before the initial date
less any lease incentives received, all direct initial expenses incurred, as
well as an estimate of the expenses to be incurred by the lessee, such as
expenses related to the removal and dismantling of the underlying asset. The right
to use assets recorded under this heading of the consolidated balance sheets
are measured after their initial recognition at cost less:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">The accumulated depreciation and
accumulated impairment</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=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">Any remeasurement of the lease liability.</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-36</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_277"></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:8.0pt;line-height:115%;">The interest
expense on the lease liability is recorded in the consolidated income
statements under the heading &#8220;Interest expense&#8221; (see note 37). Variable
payments not included in the initial measurement of the lease liability are recorded
under the heading &#8220;Administration costs &#8211; Other administrative expense&#8221; (see Note
44).</font></font><a name="XBRL_TS_952bd784c06645e6936e57ddf_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_ae8f3db0ccb0468599c3a79f3"></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 is calculated using the straight-line method over the
lifetime of the lease contract, on the basis of the cost of the assets. The
tangible asset depreciation charges are 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:0cm;margin-bottom: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%;">In case of electing one of the
exceptions in order not to recognize the corresponding right to use and the
liability in the consolidated balance sheets, payments related to the
corresponding lease are recognized in the consolidated income statements, over
the contract period, lineally, or in the way that best represents the structure
of the lease operation, under the heading &quot;Other administrative expense&#8221;
(see Note 44).</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:8.0pt;line-height:115%;">Operating lease and sublease
incomes are recognized in the consolidated income statements under the headings
&#8220;Other operating income&#8221; (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:8.0pt;line-height:115%;">As a lessor, 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:8.0pt;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:8.0pt;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 &#8220;Other
operating income&#8221; and &quot;Other operating expense&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:8.0pt;line-height:115%;">If a fair value
sale and leaseback results in a lease, the profit or loss generated from the
effectively transferred part of the sale is recognized in the consolidated
income statement at the time of sale (only for the effective transmitted part).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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_ae8f3db0ccb0468599c3a79f3_bclEnd"></a><a name="XBRL_TS_f80c1a1657cc45d19f9440108_bclEnd"></a></p>

<p style="border:none;margin:0cm;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_62eb4cce9037455c8ef9c432b"></a><a name="_Toc376949898"></a><a name="_Toc376972306"></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:9.0pt;line-height:115%;">2.2.20&#160;&#160; <a name="XBRL_TS_31966abeba6d4fde92aa54e6e"></a>Entities
and branches located in countries with hyperinflationary economies</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:8.0pt;line-height:115%;">In accordance with the IFRS-IASB
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:avoid;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:8.0pt;line-height:normal;">Argentina</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">Since 2018, the
economy of Argentina has been considered hyperinflationary under the above
criteria. As a result, the financial statements of the BBVA Group&#8217;s entities
located in Argentina have therefore been adjusted to correct for the effects of
inflation in accordance with IAS 29 &#8220;Financial reporting in hyperinflationary
economies&#8220;. </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:8.0pt;line-height:115%;">During 2019 and 2018, the increase
in the reserves of Group entities located in Argentina derived from the
re-expression for hyperinflation (IAS 29) amounts to &#8364;470 and &#8364;703 million,
respectively, of which &#8364;313 and &#8364;463 million, respectively, have been recorded
within &#8220;Shareholders&#8217; funds - Retained earnings&#8221; and &#8364;157 and &#8364;240 million,
respectively, within &#8220;Minority interests &#8211; Other&#8221;. Furthermore, during 2019 and
2018 the decrease in the reserves of Group entities located in Argentina
derived from the conversion (IAS 21) amounted to &#8364;460 and &#8364;773 million,
respectively, of which &#8364;305 and &#8364;515 million, respectively, have been recorded
within &#8220;Shareholders&#8217; funds - Retained earnings&#8221;, and &#8364;155 and &#8364;258 million,
respectively, 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 years ended
December 31, 2019 and 2018. The net loss in the profit attributable to the
parent company of the Group in 2019 and 2018 derived from the application of
IAS 29 amounted to &#8364;190 and &#8364;209 million, respectively. In addition, there is a
net loss in the profit attributable to the parent company of the Group in 2019 and
2018 derived from the application of IAS 21 which amounted to &#8364;34 and &#8364;57 million,
respectively.</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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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;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%;">The breakdown of the General Price Index (&#8220;GPI&#8221;) and the inflation
index used as of December 31, 2019 and 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_31966abeba6d4fde92aa54e6e_bclEnd"></a><a name="XBRL_TS_62eb4cce9037455c8ef9c432b_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 title="F_I_2.2_002_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:7.0pt;">General Price Index
  </font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=64% 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;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=18% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2019</font></b></font></p>
  </td>
 <td width=18% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=64% 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;">GPI</font></font></p>
  </td>
 <td nowrap width=18% 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 style="font-size:7.0pt;">285</font></font></p>
  </td>
 <td nowrap width=18% 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 style="font-size:7.0pt;">184</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=64% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">Average GPI</font></font></p>
  </td>
 <td nowrap width=18% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">233</font></font></p>
  </td>
 <td nowrap width=18% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">152</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=64% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">Inflation of the
  period</font></font></p>
  </td>
 <td nowrap width=18% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">55%</font></font></p>
  </td>
 <td nowrap width=18% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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:avoid;text-align:justify;"><a name="XBRL_TS_2feb5282c70f4ae5bfbfd4b08"></a><a name="XBRL_TS_ecc471f8ff444bc2a6c117724"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:8.0pt;line-height:115%;">Since 2009, the
economy of Venezuela has been 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;.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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;8, &#8364;12 and &#8364;13 million in 2019, 2018 and 2017, respectively (see Note
2.2.16).</font></font><a name="XBRL_TS_2feb5282c70f4ae5bfbfd4b08_bclEnd"></a><a name="XBRL_TS_ecc471f8ff444bc2a6c117724_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="_Toc376949899"></a><a name="_Toc376972307"></a><a name="XBRL_TS_9c4b2ac370bc4b05bc4d32e80"></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;line-height:115%;">2.3&#160;&#160;
Recent IFRS pronouncements</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;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;line-height:115%;">Standards and interpretations that became effective
in 2019</font></b></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:8.0pt;line-height:115%;">The following amendments to the IFRS standards or their
interpretations (hereinafter &#8220;IFRIC&#8221;) became effective in 2019.</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 color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">IFRS 16 &#8211;
&#8220;Leases&#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:8.0pt;line-height:115%;">Effective January 1, 2019, IFRS 16
replaced IAS 17 &#8220;Leases&#8221;. The new standard introduces a single lessee
accounting model and requires a lessee to recognize assets and liabilities for
all leases. The standard provides two exceptions to the recognition of lease
assets and liabilities that can be applied in the case of short-term contracts
and those in which the underlying assets have low value. BBVA has elected to
apply both exceptions. A lessee is required to recognize a right-of-use asset
representing its right to use the underlying leased asset, which is recorded
under the headings &#8220;Tangible assets &#8211; Property plants and equipment&#8221; or
&#8220;Tangible assets &#8211; Investment properties&#8221; of the consolidated balance sheet
(see Note 17) and a lease liability representing its obligation to make lease
payments which is recorded under the heading &#8220;Financial liabilities at
amortized cost &#8211; Other financial liabilities&#8221; in the consolidated balance sheet
(see Note 22.5). In the consolidated income statement, the amortization of the
right to use assets is recorded in the heading &#8220;Depreciation and amortization &#8211;
tangible asset&#8221; (see Note 45) and the financial cost associated with the lease
liability is recorded in the heading &#8220;Interest expense&#8221; (see Note 37.2).</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:8.0pt;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 to 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:8.0pt;line-height:115%;">At the transition date, the Group
decided to apply the modified retrospective approach which requires recognition
of a lease liability equal to the present value of the future payments
committed to as of January 1, 2019. Regarding the measurement of the
right-of-use asset, the Group elected to record an amount equal to the lease
liability, adjusted for the amount of any advance or accrued lease payment
related to that lease recognized in the balance sheet before the date of
initial application.</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:8.0pt;line-height:115%;">The Group&#180;s lease liabilities, as a
consequence of the first application of IFRS 16, correspond to the present
value of the future lease payments obligations during the lease term (see Note
22.5). This liability on January 1, 2019 does not match with the future minimum
payments for operating leases which had been disclosed in Note 35 of the
consolidated financial statements for the year 2018 and which were calculated
under the previous standard IAS 17. The difference is mainly the result of the
discount rate used to determine the present value of the future lease payments
as well as the lease term which includes the options to extend and/or early
terminate, provided that it is reasonably certain that this option will/will
not be exercised. The discount rate used in Spain, the geography which
represents the biggest part of the IFRS 16 impact was 1,67% at the moment of
the first application.</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:8.0pt;line-height:115%;">As of January 1, 2019, the Group
recognized assets for the right-of-use and lease liabilities for an amount of
&#8364;3,419 and &#8364;3,472 million, respectively. The impact in terms of capital (CET1)
of the Group amounted to -11 basis points.</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 color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">IFRIC 23 &#8211;
&#8220;Uncertainty over income tax treatments&#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:8.0pt;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 color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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>


<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-38</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_279"></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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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></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:8.0pt;line-height:115%;">The implementation of
this standard as of January 1, 2019 has not had a significant impact on the
Group&#8217;s consolidated financial statements.</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 color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Amended IAS 28
&#8211; &#8220;Long-term Interests in associates and joint ventures&#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:8.0pt;line-height:115%;">The amendments </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:8.0pt;line-height:115%;">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></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:8.0pt;line-height:115%;">The implementation of
this standard as of January 1, 2019 has not had a significant impact on the
Group&#8217;s consolidated financial statements.</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 color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Annual
improvements cycle to IFRSs 2015-2017</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:8.0pt;line-height:115%;">The annual improvements cycle to
IFRSs 2015-2017 includes minor changes and clarifications to IFRS 3- &#8220;Business
Combinations&#8221;, IFRS 11 &#8211; &#8220;Joint Arrangements&#8221;, IAS 12 &#8211; &#8220;Income Taxes&#8221; and IAS
23 &#8211; &#8220;Borrowing Costs&#8221;. The implementation of these standards as of January 1,
2019 has not had a significant impact on the Group&#8217;s consolidated financial
statements.</font></font><a name="XBRL_TS_9c4b2ac370bc4b05bc4d32e80_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_ffa62eb6f29a48559a975d163"></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%;">Additionally, this project has introduced an amendment to IAS 12
that became effective on January 1, 2019 and meant that the tax impact of the
distribution of generated benefits must be recorded in the &quot;Tax expense or
income related to profit or loss from continuing operations&quot; line of the
consolidated income statement for the year. The amount derived from this
amendment to IAS 12 resulted in a credit of &#8364;91 million in the consolidated
income statement for the year 2019 (see Note 1.3).</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 color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Amended IAS 19
&#8211; &#8220;Plan Amendment, Curtailment or Settlement&#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:8.0pt;line-height:115%;">The minor amendments in
IAS 19 concern the cases if an employee benefit 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></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:8.0pt;line-height:115%;">The implementation of
this standard as of January 1, 2019 has not had a significant impact on the
Group&#180;s 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;"><a name="_Toc256000010"></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:9.0pt;line-height:115%;">Standards and
interpretations issued but not yet effective as of December 31, 2019</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:8.0pt;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, 2019. Although in some
cases the </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">International Accounting Standards
Board (&#8220;IASB&#8221;) </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">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:avoid;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:8.0pt;line-height:115%;">IAS 1 and IAS 8 &#8211; Definition of Material</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:8.0pt;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></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:8.0pt;line-height:115%;">This Standard will be applied to
the accounting years starting on or after January 1, 2020. No significant impact
on the consolidated financial statements is expected.</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 color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">IFRS 3 &#8211; Definition of a business</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:8.0pt;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:36.0pt;margin-right:0cm;margin-top:12.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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>


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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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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:12.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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></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:8.0pt;line-height:115%;">This Standard will be applied to
the accounting years starting on or after January 1, 2020. No significant
impact on the consolidated financial statements is expected.</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 color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Amendments to IFRS 9, IAS 39 and IFRS 7- IBOR Reform</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:8.0pt;line-height:115%;">The IBOR Reform (Phase 1) refers to
the amendments to IFRS 9, IAS 39 and IFRS 7 issued by the IASB to prevent some
hedge accounting from having to be discontinued in the period before the reform
of the interest rate references takes place.</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:8.0pt;line-height:115%;">In some cases and / or
jurisdictions, there may be uncertainty about the future of some interest rate
references or their impact on the contracts held by the entity, which directly
causes uncertainty about the timing or amounts of the cash flows of the hedged
instrument or hedging instrument. Due to such uncertainties, some entities may
be forced to discontinue their hedge accounting, or not be able to designate
new hedging relationships.</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:8.0pt;line-height:115%;">For this reason, the amendments
include several reliefs that apply to all hedging relationships that are
affected by the uncertainty arising from the IBOR reform; A hedging
relationship is affected by the reform if it generates uncertainty about the
timing or amount of the cash flows of the hedged instrument or that of a
hedging instrument referenced to the particular interest rate benchmark.</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:8.0pt;line-height:115%;">Since the purpose of the
modification is to provide some relief to the application of certain specific
requirements of hedge accounting, these exceptions must end once the
uncertainty will be resolved or the hedging relationship ceases to exist.</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:8.0pt;line-height:115%;">The modifications will be
applicable to the accounting years beginning on or after January 1, 2020
although early application is allowed.</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> The Group
has not applied these modifications in advance as of December 31, 2019 because
it considers that the existing uncertainty does not affect its hedging
relationships to the point that some had to be discontinued. Since 2020, they
are not expected to have a significant impact on the consolidated financial
statements of the Group.</font></font><a name="XBRL_TS_ffa62eb6f29a48559a975d163_bclEnd"></a></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="XBRL_TS_845ce2cef50e4ea38349ca429"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">IFRS 17 &#8211; Insurance Contracts</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:8.0pt;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;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%;">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:36.0pt;margin-right:0cm;margin-top:12.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-18.0pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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:8.0pt;line-height:115%;">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:8.0pt;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></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:8.0pt;line-height:115%;">This Standard will be applied to
the accounting years starting on or after January 1, 2022. During 2019, the
Group has established an IFRS 17 implementation project with the objective of
harmonizing the criteria in the Group and with the participation of all the
affected areas.</font></font><a name="XBRL_TS_845ce2cef50e4ea38349ca429_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="_Toc376949902"></a><a name="_Toc347755839"></a><a name="_Toc331260301"></a><a name="_Toc299032860"></a><a name="_Toc299031521"></a><a name="_Toc299029438"></a><a name="_Toc298431703"></a><a name="XBRL_TS_7dcb0c230a8245fd9cf11b6d5"></a><a name="_Toc457490010"></a><a name="_Toc481589065"></a><a name="_Toc495478117"></a><a name="_Toc505355936"></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-40</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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:11.0pt;">3.&#160;&#160; BBVA
Group</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The BBVA Group is an international diversified financial group
with a significant presence in retail banking, wholesale banking and asset
management. The Group also operates in the insurance sector.</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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The following information is detailed in the appendices of these
consolidated financial statements of the Group for the year ended December 31,
2019:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:38.8pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:38.8pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Appendix II shows relevant
information related to investments in joint ventures and associates accounted
for using the equity method.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:38.8pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:38.8pt;margin-right:0cm;margin-top:10.0pt;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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;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%;">The
following table sets forth information related to the Group&#8217;s total assets as
of December 31, 2019, 2018 and 2017, broken down by the Group&#8217;s entities
according to their activity:</font></font><a name="XBRL_TS_7dcb0c230a8245fd9cf11b6d5_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_3_001_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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=60% 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=EN-US 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 lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=60% 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=EN-US style="font-size:8.0pt;">Banking 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">667,319</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 style="font-size:8.0pt;">647,164</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 style="font-size:8.0pt;">659,414</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=60% 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=EN-US 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">29,300</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 style="font-size:8.0pt;">26,732</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 style="font-size:8.0pt;">26,134</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=60% 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: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 style="font-size:8.0pt;">&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 style="font-size:8.0pt;">2,071</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 style="font-size:8.0pt;">2,793</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 style="font-size:8.0pt;">4,511</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=60% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">698,690</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">676,689</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">690,059</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_d03f757091fc4ff5ad229776e"></a><font color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The total assets and results of operations broken down by
operating segments are included in Note 6.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;page-break-after:avoid;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:8.0pt;line-height:115%;">The
BBVA Group&#8217;s activities are mainly located in Spain, Mexico, South America, the
United States and Turkey, with active presence in other countries, as shown
below:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-17.85pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=ES style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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 face=Arial,sans-serif lang=ES style="font-size:8.0pt;line-height:115%;">Spain</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The Group&#8217;s
activity in Spain is mainly carried out through Banco Bilbao Vizcaya
Argentaria, S.A. The Group also has other entities that mainly operate in
Spain&#8217;s banking sector and insurance sector.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-17.85pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Mexico</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:0cm;"><font color=#0D0D0D style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The BBVA Group operates in
Mexico, not only in the banking sector, but also in the insurance sector
through BBVA Mexico.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-17.85pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=ES style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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 face=Arial,sans-serif lang=ES style="font-size:8.0pt;line-height:115%;">South America</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:0cm;"><font color=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The BBVA Group&#8217;s activities in South America
are mainly focused on the banking, financial and insurance sectors, in the
following countries: Argentina, Colombia, Peru, Uruguay and Venezuela. It has a
representative office in Sao Paulo (Brazil).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:0cm;"><font color=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The Group owns more 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, 2019, are
consolidated (see Note 2.1).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-17.85pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=ES style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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 face=Arial,sans-serif lang=ES style="font-size:8.0pt;line-height:115%;">The United States</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The Group&#8217;s
activity in the United States is mainly carried out through a group of entities
with BBVA USA Bancshares, Inc. at their head, as well as through the New York
BBVA, S.A. branch and a representative office in Silicon Valley (California).</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-41</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</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">

<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:35.7pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-17.85pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=ES style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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 face=Arial,sans-serif lang=ES style="font-size:8.0pt;line-height:115%;">Turkey</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;"><font color=#0D0D0D face=Arial,sans-serif style="border:none;"><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The
Group&#8217;s activity in Turkey is mainly carried out through the Garanti BBVA
Group.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-17.85pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=ES style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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 face=Arial,sans-serif lang=ES style="font-size:8.0pt;line-height:115%;">Rest of Europe</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The Group&#8217;s
activity in Europe is carried out through banks and financial institutions in
Switzerland, Italy, Germany, Netherlands, 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:35.7pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-17.85pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=ES style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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 face=Arial,sans-serif lang=ES style="font-size:8.0pt;line-height:115%;">Asia-Pacific</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.4pt;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:8.0pt;line-height:115%;">The Group&#8217;s
activity in this region is carried out through the Bank branches (in Taipei,
Tokyo, Hong Kong, Singapore and Shanghai) and representative offices (in
Beijing, Seoul, Mumbai, Abu Dhabi and Jakarta).</font></font><a name="XBRL_TS_d03f757091fc4ff5ad229776e_bclEnd"></a></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="XBRL_TS_534280b1dd624c3ba68027907"></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:9.0pt;">Significant
transactions in the Group in 2019</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: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:8.0pt;">Divestitures </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 color=#009EE5 face=Arial,sans-serif style="border:none;"><font color=#009EE5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Sale
of BBVA&#8217;s stake in BBVA Paraguay</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">On August 7, 2019,
BBVA reached an agreement with Banco GNB Paraguay, S.A., an affiliate of Grupo
Financiero Gilinski, for the sale of its wholly-owned subsidiary Banco Bilbao
Vizcaya Argentaria Paraguay, S.A. (&#8220;BBVA Paraguay&#8221;).</font></font></p>

<p style="border:none;margin:0cm;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:8.0pt;line-height:115%;">The consideration for the acquisition of BBVA Paraguay&#8217;s shares
amounts to approximately $270 million. The above mentioned consideration is
subject to regular adjustments for these kind of transactions between the
signing and closing dates of the transaction. It is expected that the
transaction would result in a capital gain, net of taxes, calculated as of the
date of this Annual Report, of approximately &#8364;40 million and in a positive
impact on the BBVA Group&#8217;s Common Equity Tier 1 of approximately 6 basis
points. The closing of the transaction is expected during the first quarter of
2020 after obtaining regulatory authorizations from the competent authorities.</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 color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">Significant
transactions in the Group in 2018</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: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:8.0pt;">Divestitures </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 color=#009EE5 face=Arial,sans-serif style="border:none;"><font color=#009EE5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">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:8.0pt;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.). BBVA owned approximately,
directly and indirectly, 68.19% of BBVA Chile 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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The consideration
received in cash by BBVA as consequence of the referred sale amounted to,
approximately, USD 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:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:0cm;"><font color=#009EE5 face=Arial,sans-serif style="border:none;"><font color=#009EE5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:8.0pt;line-height:115%;">On </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:8.0pt;line-height:115%;">November</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:8.0pt;line-height:115%;"> 29, 2017, 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;). </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:8.0pt;line-height:115%;">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;5,000 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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_283"></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 color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">On October
10, 2018, after obtaining all required authorizations, BBVA completed the
transfer of the real estate business in Spain. Closing of </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:8.0pt;line-height:115%;">the</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:8.0pt;line-height:115%;">
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.</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:8.0pt;line-height:115%;">Divarian is the company to which the BBVA Group
has contributed the Business provided that the effective transfer of several
real estate assets (REOs) remains subject to the fulfilment of certain
conditions precedent. The final price payable by Cerberus will be adjusted
depending on </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:8.0pt;line-height:115%;">the</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:8.0pt;line-height:115%;"> volume of REOs 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:8.0pt;line-height:115%;">The transaction did not have a significant impact
on BBVA Group&#8217;s attributable profit of 2018 or the Common Equity Tier 1 as of
December 31, 2018.</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 color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">Significant
transactions in the Group in 2017</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: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:9.0pt;">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:8.0pt;line-height:115%;">&#160;On February 21, 2017, 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&#8221;), amounting to 9.95% of the total issued share
capital of Garanti Bank. On March 22, 2017, the sale and purchase agreement was
completed, and therefore BBVA&#180;s total stake in Garanti as of December 31, 2017
amounts to 49.85% (See Note 31).</font></font><a name="XBRL_TS_534280b1dd624c3ba68027907_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;text-indent:0cm;"><a name="XBRL_TS_690e7b73a9ac4e9f9680e0ae0"></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:11.0pt;">4.&#160;&#160;
Shareholder remuneration system</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 color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">As announced on February 1, 2017, BBVA&#8217;s Board of
Directors, at its meeting held on March, 29, 2017, 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. </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:8.0pt;line-height:115%;">This fully in-cash shareholders&#8217; remuneration
policy would be composed 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:avoid;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:8.0pt;">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:8.0pt;line-height:115%;">Until 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:8.0pt;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:8.0pt;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; in that year. As a result
of this increase, the Bank&#8217;s share capital increased by &#8364;49,622,955.62 through
the issuance of 101,271,338 newly-issued BBVA ordinary shares at 0.49 euros par
value, given that 83.28% of owners of the rights of free allocation opted to
receive newly issued BBVA ordinary shares. The remaining 16.72% of the owners
of the rights of free allocation exercised the commitment assumed by BBVA, and
as a result, BBVA acquired 1,097,962,903 rights (at a gross price of &#8364;0.131
each) for a total amount of &#8364;143,833,140.29. This amount is recorded in &#8220;Total
equity- Interim dividends&#8221; of the consolidated balance sheet 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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_284"></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:avoid;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:8.0pt;">Cash Dividends</font></font></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:8.0pt;line-height:115%;">Throughout 2017, 2018 and 2019, 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; and &#8220;Total Equity &#8211;
Retained earnings&#8221; of the consolidated balance sheet of the relevant year:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The Board of Directors, at its meeting held on September 27, 2017,
approved the payment in cash of &#8364;0.09 (&#8364;0.0729 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;599 million and is
recognized under the headings &#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:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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;0.15 (&#8364;0.1215 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;996 million and is recognized under heading &#8220;Total
equity-&#160; Retained earnings&#8221; of the consolidated balance sheet as of December
31, 2018. </font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The Board of Directors, at its meeting held on September 26, 2018,
approved the payment in cash of &#8364;0.10 (&#8364;0.081 net of withholding tax) per BBVA
share, as gross interim dividend against 2018 results. The total amount paid to
shareholders on October 10, 2018, after deducting treasury shares held by the
Group's companies, amounted to &#8364;663 million and is recognized under the heading
&#8220;Total equity- Interim dividends&#8221; of the consolidated balance sheet as of
December 31, 2018.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The Annual General Meeting of BBVA held on March 15, 2019,
approved, under item 1 of the Agenda, the payment of a final dividend for 2018,
in addition to other dividends previously paid, in cash for an amount equal to
&#8364;0.16 (&#8364;0.1296 withholding tax) per BBVA share. The total amount paid to
shareholders on April 10, 2019, after deducting treasury shares held by the
Group&#8217;s Companies, amounted to &#8364;</font></font><font color=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">1,064 </font></font><font color=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">million and is recognized
under the heading &#8220;Total equity- Retained earnings&#8221; of the consolidated balance
sheet as of December 31, 2019.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The Board of Directors, at its meeting held on October 2, 2019,
approved the payment in cash of &#8364;0.10 (&#8364;0.081 net of withholding tax rate of
19%) per BBVA share, as gross interim dividend based on 2019 results. The total
amount paid to shareholders on October 15, 2019, after deducting treasury
shares held by the Group&#180;s companies, amounted to &#8364;</font></font><font color=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">665 </font></font><font color=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">million and is
recognized under the heading &#8220;Total equity-&#160; Interim dividends&#8221; of the
consolidated balance sheet as of December 31, 2019.</font></font><a name="XBRL_TS_690e7b73a9ac4e9f9680e0ae0_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><a name="_Toc331260302"></a><a name="_Toc347755840"></a><a name="_Toc376949903"></a><a name="XBRL_TS_1b70720f66d0461d908ef6671"></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%;">The unaudited
accounting statements prepared in accordance with legal requirements evidencing
the existence of sufficient liquidity for the distribution of the amounts
agreed on October 2, 2019, mentioned above are as follows:</font></font><a name="XBRL_TS_1b70720f66d0461d908ef6671_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_N4_001anual_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:20.45pt;">
  <td colspan=2 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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=77% 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;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=23% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">August, 31, 2019</font></b></font></p>
  </td>
 </tr>
<tr style="height:20.45pt;">
  <td width=77% 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 lang=EN-US style="font-size:8.0pt;">Profit&#160; of
  BBVA, S.A., after the provision for income tax</font></font></p>
  </td>
 <td nowrap width=23% 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 style="font-size:8.0pt;">1,137</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=77% 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 lang=EN-US style="font-size:8.0pt;">Additional
  Tier I capital instruments remuneration</font></font></p>
  </td>
 <td nowrap width=23% 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 style="font-size:8.0pt;">276</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=77% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Maximum amount
  distributable</font></b></font></p>
  </td>
 <td nowrap width=23% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">861</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=77% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Amount of
  proposed interim dividend</font></b></font></p>
  </td>
 <td nowrap width=23% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">667</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=77% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=23% 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 style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=77% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">BBVA cash
  balance available to the date</font></b></font></p>
  </td>
 <td nowrap width=23% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">6,691</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:avoid;text-align:justify;"><a name="XBRL_TS_0baab8e18070421eb6dcb8092"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-GB style="font-size:8.0pt;">Proposal on
allocation of earnings for 2019</font></b></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:8.0pt;line-height:115%;">The
allocation of earnings for 2019 subject to the approval of the Board of
Directors at the Annual Shareholders Meeting is presented below:</font></font><a name="XBRL_TS_0baab8e18070421eb6dcb8092_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_N4_002anual_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Allocation of
  earnings of BBVA, S.A. (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:25.15pt;">
  <td width=76% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=24% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 2019</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=76% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Profit for year</font></b></font></p>
  </td>
 <td nowrap width=24% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">2,241</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=76% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Distribution</font></b></font></p>
  </td>
 <td nowrap width=24% 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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=76% 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;">Interim dividends</font></font></p>
  </td>
 <td width=24% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">667</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=76% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Final dividend</font></font></p>
  </td>
 <td width=24% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,067</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=76% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Additional Tier 1
  securities</font></font></p>
  </td>
 <td width=24% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">419</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td width=76% 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 style="font-size:8.0pt;">Voluntary reserves</font></font></p>
  </td>
 <td width=24% 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 style="font-size:8.0pt;">88</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 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-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_e78f4648e1dd46b19a70167fb"></a><a name="_Toc457490012"></a><a name="_Toc481589067"></a><a name="_Toc495478119"></a><a name="_Toc505355938"></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-44</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_285"></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;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:11.0pt;">5.&#160;&#160; Earnings per share</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:8.0pt;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;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%;">The
calculation of earnings per share is as follows:</font></font><a name="XBRL_TS_e78f4648e1dd46b19a70167fb_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_5_001_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Basic and
  Diluted Earnings per Share</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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018 </font></b></font><sup><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">(4)</font></b></font></sup></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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017 </font></b></font><sup><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">(4)</font></b></font></sup></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=64% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Numerator for
  basic and diluted earnings per share (millions of euros)</font></b></font></p>
  </td>
 <td nowrap width=12% 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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=EN-US 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 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=EN-US 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 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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=64% 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=EN-US style="font-size:8.0pt;">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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,512</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 style="font-size:8.0pt;">5,400</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 style="font-size:8.0pt;">3,514</font></font></p>
  </td>
 </tr>
<tr style="height:16.15pt;">
  <td width=64% 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 style="font-size:8.0pt;">Adjustment:
  Additional Tier 1 securities (1)</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">(419)</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">(447)</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">(430)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=64% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Profit
  adjusted (millions of euros) (A)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">3,093</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">4,953</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">3,084</font></b></font></p>
  </td>
 </tr>
<tr style="height:20.45pt;">
  <td width=64% style="border:none;border-bottom:solid black 1.0pt;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;"><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Of which:
  profit from discontinued operations (net of non-controlling interest) (B)</font></i></font></p>
  </td>
 <td nowrap width=12% 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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=12% 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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=12% 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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=64% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Denominator
  for basic earnings per share (number of shares outstanding)</font></b></font></p>
  </td>
 <td nowrap width=12% 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=EN-US 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 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=EN-US 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 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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=64% 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=EN-US style="font-size:8.0pt;">Weighted average
  number of shares outstanding (2)</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 style="font-size:8.0pt;">6,668</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 style="font-size:8.0pt;">6,668</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 style="font-size:8.0pt;">6,642</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td 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=EN-US style="font-size:8.0pt;">Weighted
  average number of shares outstanding x corrective factor (3)</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 style="font-size:8.0pt;">6,668</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 style="font-size:8.0pt;">6,668</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 style="font-size:8.0pt;">6,642</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=64% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Adjusted
  number of shares - Basic earnings per share (C)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">6,648</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">6,636</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">6,642</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=64% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Adjusted
  number of shares - diluted earnings per share&#160; (D)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">6,648</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">6,636</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">6,642</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=64% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Earnings per share
  (*)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">0.47</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">0.75</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">0.46</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=64% 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=EN-US 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=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 style="font-size:8.0pt;">0.47</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 style="font-size:8.0pt;">0.75</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 style="font-size:8.0pt;">0.46</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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=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 style="font-size:8.0pt;">0.47</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 style="font-size:8.0pt;">0.75</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 style="font-size:8.0pt;">0.46</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Basic earnings
  per share from discontinued operations (Euros per share)B/C</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 style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Diluted
  earnings per share from discontinued operations (Euros per share)B/D</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 style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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;page-break-after:avoid;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_TS_0392edd690854a459953d7f90"></a><a name="XBRL_FS_653b8b1ad9ae43e3b8b4cd80d"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(1)&#160;&#160;
Remuneration in the year related to contingent convertible securities, recognized
in equity (see Note 22.4).</font></font><a name="XBRL_FS_653b8b1ad9ae43e3b8b4cd80d_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_4c8305c6422e4358910ee6894"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(2)&#160;&#160; Weighted average number
of shares outstanding (millions of euros), excluding weighted average of
treasury shares during the year.</font></font><a name="XBRL_FS_4c8305c6422e4358910ee6894_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_433fd186207c4c35b8d9d9949"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(3)&#160;&#160; Corrective factor, due
to the capital increase with pre-emptive subscription right, applied for the
previous years.</font></font><a name="XBRL_FS_433fd186207c4c35b8d9d9949_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_634d980d075f4834acad9e99a"></a><a name="XBRL_FS_36020771319946da9118eb4d0"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(4)&#160;&#160; The figures
corresponding to 2018 and 2017 have been restated (see Note 1.3)</font></font><a name="XBRL_FS_36020771319946da9118eb4d0_bclEnd"></a><a name="XBRL_FS_634d980d075f4834acad9e99a_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:35.45pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:0cm;"><a name="XBRL_FS_441e16d232794be58ffd35f35"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*)&#160;&#160; In 2019 the weighted
average number of shares outstanding was 6,668 million (6,668 million and 6,642
million in 2018 and 2017, respectively) and the adjustment of additional Tier 1
securities amounted to &#8364;419 million (&#8364;447 and &#8364;430 million in 2018 and 2017,
respectively).</font></font><a name="XBRL_FS_441e16d232794be58ffd35f35_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:8.0pt;line-height:115%;">As of December 31, 2019, 2018 and 2017, 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.<a name="Nota_6"></a><a name="Nota_6_bclEnd"></a> For this
reason, basic and diluted earnings per share are the same.</font></font><a name="XBRL_TS_0392edd690854a459953d7f90_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_66ec627876ee47319b16116c7"></a><a name="_Toc457490013"></a><a name="_Toc481589068"></a><a name="_Toc495478120"></a><a name="_Toc505355939"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">6.&#160;&#160;
Operating segment reporting</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:8.0pt;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: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:8.0pt;line-height:115%;">During 2019, the reporting structure of the BBVA Group&#8217;s business
areas differs from the one presented at the end of the year 2018, as a result
of the integration of the Non-Core Real Estate business area into Banking
Activity in Spain, which has been renamed &#8220;Spain&#8221;. Additionally, balance sheet
intra-group adjustments between Corporate Center and the operating segments
have been reallocated to the corresponding operating segments. In addition,
certain expenses related to global projects and activities have been
reallocated between the Corporate Center and the corresponding operating
segments. In order to make the 2019 information comparable as required by IFRS
8 &#8220;Information by business segments&#8221;, figures as of December 31, 2018 and 2017
have been restated in conformity with the new segment reporting structure. The
BBVA Group's operating segments are summarized below:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-17.85pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Spain </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:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Includes mainly the banking and
insurance business that the Group carries out in Spain. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-17.85pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The United States</font></font></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:36.0pt;margin-right:0cm;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;line-height:115%;">Includes </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:8.0pt;line-height:115%;">the
financial business activity of BBVA USA in the country and the activity of the
branch of BBVA, S.A., in New York.</font></font></p>


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</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">

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-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:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-17.85pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Mexico</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:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Includes banking and insurance
businesses in this country as well as the activity of its branch in Houston.</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> &nbsp;</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-17.85pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Turkey</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:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Reports the activity of Garanti
BBVA group that is mainly carried out in this country and, to a lesser extent,
in Romania and the Netherlands. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-17.85pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">South America</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:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Primarily includes the Group&#180;s
banking and insurance businesses in the region. In relation to the sale of BBVA
Paraguay, the closing is expected to take place during the first quarter of
2020 (see Note 3).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-17.85pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Rest of Eurasia </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:0cm;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Includes the banking business
activity carried out by the Group in Europe and Asia, excluding Spain.</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:8.0pt;line-height:115%;">Lastly, Corporate Center performs
centralized Group functions, including: the costs of the head offices with a
corporate function; management of structural exchange rate positions; some
equity instruments issuances to support an adequate management of the Group's
global solvency. It also includes portfolios whose management is not linked to
customer relationships, such as industrial holdings, certain tax assets and
liabilities; funds due to commitments to employees; goodwill and other
intangible assets.</font></font></p>

<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%;">The breakdown of
the BBVA Group&#8217;s total assets by operating segments as of December 31, 2019,
2018 and 2017, is as follows:</font></font><a name="XBRL_TS_66ec627876ee47319b16116c7_bclEnd"></a></p>

<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%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_06_001_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Total assets
  by operating segments (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=61% 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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018 (1)</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017 (1)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=61% 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;">Spain</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 style="font-size:8.0pt;">365,374</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 style="font-size:8.0pt;">354,901</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 style="font-size:8.0pt;">350,520</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">The United States</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 style="font-size:8.0pt;">88,529</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 style="font-size:8.0pt;">82,057</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 style="font-size:8.0pt;">75,775</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Mexico</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 style="font-size:8.0pt;">109,079</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 style="font-size:8.0pt;">97,432</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 style="font-size:8.0pt;">90,214</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Turkey </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 style="font-size:8.0pt;">64,416</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 style="font-size:8.0pt;">66,250</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 style="font-size:8.0pt;">78,789</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">South America</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 style="font-size:8.0pt;">54,996</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 style="font-size:8.0pt;">54,373</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 style="font-size:8.0pt;">75,320</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=61% 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;">Rest of Eurasia</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 style="font-size:8.0pt;">23,248</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 style="font-size:8.0pt;">18,834</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 style="font-size:8.0pt;">17,265</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=61% style="background:#5AC4C4;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=EN-US style="font-size:8.0pt;">Subtotal assets
  by Operating Segments</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">705,641</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">673,848</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">687,884</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=61% 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;">Corporate Center and
  adjustments</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 style="font-size:8.0pt;">(6,951)</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 style="font-size:8.0pt;">2,841</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 style="font-size:8.0pt;">2,175</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=61% style="background:#5AC4C4;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 assets BBVA
  Group</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">698,690</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">676,689</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">690,059</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:21.25pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><a name="XBRL_TS_e5d9c8060c294366bd26926ad"></a><a name="XBRL_FS_d17edd6e0c5b40abb72ad381b"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(1)&#160;&#160; The
figures corresponding to 2018 and 2017 have been restated (see Note 1.3).</font></font><a name="XBRL_FS_d17edd6e0c5b40abb72ad381b_bclEnd"></a></p>

<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%;">The following
table sets forth certain summarized information relating to the income of each
operating segment and Corporate Center for the years ended December 31, 2019,
2018 and 2017 and reconciles the income statement of the various operating
segments to the consolidated income statement of the Group:</font></font><a name="XBRL_TS_e5d9c8060c294366bd26926ad_bclEnd"></a></p>

<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%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_06_004_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:40.5pt;">
  <td width=26% 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 lang=EN-US style="font-size:6.0pt;">&nbsp;</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 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=EN-US style="font-size:6.0pt;">&nbsp;</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">BBVA Group</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">The United States</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">South America</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Rest of Eurasia</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Corporate Center</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td width=26% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">2019</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Notes</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=26% 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 style="font-size:6.0pt;">Net interest income</font></font></p>
  </td>
 <td width=9% 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 style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">18,202</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">3,645</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">2,395</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">6,209</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">2,814</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">3,196</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">175</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">(233)</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=26% 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:6.0pt;">Gross income</font></font></p>
  </td>
 <td width=9% 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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">24,542</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">5,734</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">3,223</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">8,029</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">3,590</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">3,850</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">454</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">(339)</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=26% 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=EN-US style="font-size:6.0pt;">Operating
  profit /(loss) before tax</font></font></p>
  </td>
 <td width=9% 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=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">6,398</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">1,878</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">705</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">3,691</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">1,341</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">1,396</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">163</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">(2,775)</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=26% style="background:#5AC4C4;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 style="font-size:6.0pt;">Profit</font></b></font></p>
  </td>
 <td width=9% style="background:#5AC4C4;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 style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:6.0pt;">3,512</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:6.0pt;">1,386</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:6.0pt;">590</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:6.0pt;">2,699</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:6.0pt;">506</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:6.0pt;">721</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:6.0pt;">127</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:6.0pt;">(2,517)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td width=26% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">2018 (1)</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 0cm 0cm 0cm;">
  <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 nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=26% 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 style="font-size:6.0pt;">Net interest income</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">17,591</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">3,698</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">2,276</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">5,568</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">3,135</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">3,009</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">175</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">(269)</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=26% 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:6.0pt;">Gross income</font></font></p>
  </td>
 <td nowrap width=9% 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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">23,747</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">5,968</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">2,989</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">7,193</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">3,901</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">3,701</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">414</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">(420)</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=26% 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=EN-US style="font-size:6.0pt;">Operating
  profit /(loss) before tax</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">8,446</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">1,840</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">920</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">3,269</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">1,444</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">1,288</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">148</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">(463)</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=26% style="background:#5AC4C4;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 style="font-size:6.0pt;">Profit</font></b></font></p>
  </td>
 <td width=9% style="background:#5AC4C4;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 style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:6.0pt;">5,400</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:6.0pt;">1,400</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:6.0pt;">736</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:6.0pt;">2,367</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:6.0pt;">567</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:6.0pt;">578</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:6.0pt;">96</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:6.0pt;">(343)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td width=26% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">2017 (1)</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 0cm 0cm 0cm;">
  <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 nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:12.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=26% 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 style="font-size:6.0pt;">Net interest income</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">17,758</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">3,810</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">2,119</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">5,476</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">3,331</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">3,200</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">180</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">(357)</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=26% 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:6.0pt;">Gross income</font></font></p>
  </td>
 <td nowrap width=9% 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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">25,270</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">6,162</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">2,876</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">7,122</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">4,115</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">4,451</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">468</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">74</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=26% 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=EN-US style="font-size:6.0pt;">Operating
  profit /(loss) before tax</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">6,931</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">1,189</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">749</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">2,960</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">2,143</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">1,671</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">181</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">(1,962)</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=26% style="background:#5AC4C4;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 style="font-size:6.0pt;">Profit</font></b></font></p>
  </td>
 <td width=9% style="background:#5AC4C4;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 style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:6.0pt;">3,514</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:6.0pt;">877</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:6.0pt;">486</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:6.0pt;">2,170</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:6.0pt;">823</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:6.0pt;">847</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:6.0pt;">128</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:6.0pt;">(1,817)</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:21.25pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><a name="XBRL_FS_2ee785c4d1854968800cb135b"></a><a name="XBRL_FS_64d536481f45411f966116eff"></a><a name="XBRL_TS_7fec4605ea834a5a9a950159d"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(1)&#160;&#160; The
figures corresponding to 2018 and 2017 have been restated (see Note 1.3).</font></font><a name="XBRL_FS_2ee785c4d1854968800cb135b_bclEnd"></a><a name="XBRL_FS_64d536481f45411f966116eff_bclEnd"></a><a name="XBRL_TS_7fec4605ea834a5a9a950159d_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_cf96262fe0cf4386aae056aa7"></a><a name="_Toc505356836"></a><a name="_Toc474142221"></a><a name="_Toc495478121"></a><a name="_Toc481589069"></a><a name="_Toc457490014"></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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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;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:11.0pt;layout-grid-mode:char;">7.&#160;&#160; Risk management</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;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;line-height:115%;">7.1&#160;&#160; Credit risk</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:8.0pt;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;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%;">The general
principles governing credit risk management in the BBVA Group are:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Risks taken
should comply with the general risk policy established by the Board of
Directors of BBVA.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Risks taken
should be in line with the level of equity and generation of recurring revenue
of the BBVA Group prioritizing risk diversification and avoiding relevant
concentrations.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Risks taken
should be identified, measured and assessed and there should be management and
monitoring procedures, in addition to sound mitigation and control mechanisms.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Risks should
be managed in a prudent and integrated manner during their life cycle and their
treatment should be based on the type of risk. In addition, portfolios should
be actively managed on the basis of a common metric (economic capital).</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The main
criterion when granting credit risks is the capability of the borrower or
obligor to fulfill on a timely basis all financial obligations with its
business income or source of income without depending upon guarantors, bondsmen
or pledged assets.</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:8.0pt;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:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">At Group
level: frameworks for action and standard rules of conduct are defined for
handling risk, specifically, the channels, procedures, structure and
supervision.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-17.85pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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 channel:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;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:8.0pt;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;
&nbsp;</font></font><font color=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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 style="border:none;margin-bottom:10.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;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:8.0pt;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;
&nbsp;</font></font><font color=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">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></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:8.0pt;line-height:115%;">The risk function has a
decision-making process supported by a structure of committees with a solid
governance scheme, which describes their purposes and functioning for a proper
performance of their tasks.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><a name="_Toc376949908"></a><a name="_Toc376972316"></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:9.0pt;line-height:115%;">7.1.1&#160;&#160; Measurement Expected Credit Loss (ECL)</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:8.0pt;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:8.0pt;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:avoid;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:8.0pt;line-height:115%;">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:8.0pt;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;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%;">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:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Step 1:
Analysis and transformation of time series data.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Step 2: For
each dependent variable find conditional forecasting models that are
economically consistent.</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:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Step 3:
Select the best conditional forecasting model from the set of candidates
defined in Step 2, based on their forecasting capacity.</font></font><a name="XBRL_TS_cf96262fe0cf4386aae056aa7_bclEnd"></a></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="XBRL_TS_a55452cbd67b470bbb18b1f24"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">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:8.0pt;line-height:115%;">The forward
looking component is added to the calculation of the ECL through the
introduction of macroeconomic scenarios as an input. Inputs highly depend on
the particular combination of region and portfolio, so inputs are adapted to
available data regarding each of them.</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:8.0pt;line-height:115%;">Based on economic theory and analysis, the main indicators most
directly relevant for explaining and forecasting the selected risk parameters
(PD, LGD and EAD) are:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The net
income of families, corporates or public administrations.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The outstanding
payment amounts on the principal and interest on the financial instruments.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">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:8.0pt;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;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%;">Only a single specific indicator for each of the three categories
can be used and only one of the following core macroeconomic indicators should
be chosen as first option:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The real
GDP growth for the purpose of conditional forecasting can be seen as the only
&#8220;factor&#8221; required for capturing the influence of all potentially relevant
macro-financial scenarios on internal PDs and LGD.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The most
representative short term interest rate (typically the policy rate or the most
liquid sovereign yield or interbank rate) or exchange rates expressed in real terms.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">A
comprehensive and representative index of the price of real estate properties
expressed in real terms in the case of mortgage loans and a representative and
real term index of the price of the relevant commodity for corporate loan
portfolios concentrated in exporters or producer of such commodity.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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:avoid;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:8.0pt;line-height:115%;">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:8.0pt;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:8.0pt;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:8.0pt;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:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:avoid;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:8.0pt;line-height:115%;">Alternative macroeconomic scenarios</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">For each of
the macro-financial variables, BBVA Research produces three scenarios.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">BBVA
Research tracks, analyzes and forecasts the economic environment to provide a
consistent forward looking assessment about the most likely scenario and risks
that impact BBVA&#8217;s footprint. To build economic scenarios, BBVA Research
combines official data, econometric techniques and expert knowledge.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The
non-linearity overlay is defined as the ratio between the probability-weighted
ECL under the alternative scenarios and the baseline scenario, where the
scenario&#8217;s probability depends on the distance of the alternative scenarios
from the base one.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">BBVA Group
establishes equally weighted scenarios, being the probability 34% for the
baseline scenario, 33% for the worst alternative scenario and 33% for the best
alternative scenario.</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-48</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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:8.0pt;line-height:115%;">BBVA Group considers three prospective macroeconomic scenarios
which are updated periodically (currently every three months). BBVA Research projects
a maximum of five years for the macroeconomic variables. The estimation for the
next five years of the GDP used in the estimation of the measurement of
expected credit loss as of December 31, 2019 is as follows:</font></font><a name="XBRL_TS_a55452cbd67b470bbb18b1f24_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_eff1aba0e9694a798f4570274"></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%;">GDP for the
main geographies:</font></font><a name="XBRL_TS_eff1aba0e9694a798f4570274_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_INDICES_02_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:8.25pt;">
  <td colspan=13 nowrap valign=bottom 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">GDP for the
  main geographies</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap valign=bottom width=5% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 nowrap width=24% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Spain</font></b></font></p>
  </td>
 <td colspan=3 nowrap width=24% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Mexico</font></b></font></p>
  </td>
 <td colspan=3 nowrap width=24% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Turkey</font></b></font></p>
  </td>
 <td colspan=3 nowrap width=23% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">The United States</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=5% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Date</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">GDP negative scenario</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">GDP base scenario</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">GDP positive scenario</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">GDP negative scenario</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">GDP base scenario</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">GDP positive scenario</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">GDP negative scenario</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">GDP base scenario</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">GDP positive scenario</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">GDP negative scenario</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">GDP base scenario</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">GDP positive scenario</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap valign=bottom width=5% 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;">2019</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">0.96%</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">1.54%</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">2.15%</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">-0.58%</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">0.23%</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">1.06%</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">-0.60%</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">3.32%</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">7.06%</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">1.16%</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">2.12%</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:6.0pt;">3.13%</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap valign=bottom width=5% 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;">2020</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 style="font-size:6.0pt;">1.35%</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 style="font-size:6.0pt;">1.87%</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 style="font-size:6.0pt;">2.42%</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 style="font-size:6.0pt;">0.93%</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 style="font-size:6.0pt;">1.66%</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 style="font-size:6.0pt;">2.39%</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 style="font-size:6.0pt;">-0.68%</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 style="font-size:6.0pt;">2.48%</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 style="font-size:6.0pt;">5.27%</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 style="font-size:6.0pt;">1.00%</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 style="font-size:6.0pt;">1.81%</font></font></p>
  </td>
 <td nowrap width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2.62%</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap valign=bottom width=5% 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;">2021</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 style="font-size:6.0pt;">2.01%</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 style="font-size:6.0pt;">2.10%</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 style="font-size:6.0pt;">2.19%</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 style="font-size:6.0pt;">2.05%</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 style="font-size:6.0pt;">2.14%</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 style="font-size:6.0pt;">2.23%</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 style="font-size:6.0pt;">4.60%</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 style="font-size:6.0pt;">4.74%</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 style="font-size:6.0pt;">4.91%</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 style="font-size:6.0pt;">1.84%</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 style="font-size:6.0pt;">1.92%</font></font></p>
  </td>
 <td nowrap width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2.03%</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap valign=bottom width=5% 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;">2022</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 style="font-size:6.0pt;">1.85%</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 style="font-size:6.0pt;">1.89%</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 style="font-size:6.0pt;">1.88%</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 style="font-size:6.0pt;">2.07%</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 style="font-size:6.0pt;">2.14%</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 style="font-size:6.0pt;">2.19%</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 style="font-size:6.0pt;">4.28%</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 style="font-size:6.0pt;">4.38%</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 style="font-size:6.0pt;">4.47%</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 style="font-size:6.0pt;">1.83%</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 style="font-size:6.0pt;">1.86%</font></font></p>
  </td>
 <td nowrap width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1.91%</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap valign=bottom width=5% 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;">2023</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 style="font-size:6.0pt;">1.81%</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 style="font-size:6.0pt;">1.85%</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 style="font-size:6.0pt;">1.85%</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 style="font-size:6.0pt;">2.11%</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 style="font-size:6.0pt;">2.15%</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 style="font-size:6.0pt;">2.17%</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 style="font-size:6.0pt;">4.31%</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 style="font-size:6.0pt;">4.38%</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 style="font-size:6.0pt;">4.50%</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 style="font-size:6.0pt;">1.88%</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 style="font-size:6.0pt;">1.91%</font></font></p>
  </td>
 <td nowrap width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1.94%</font></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;"><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>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_INDICES_02BIS_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:8.25pt;">
  <td nowrap valign=bottom width=6% 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 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 nowrap width=33% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Peru</font></b></font></p>
  </td>
 <td colspan=3 nowrap width=31% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Argentina</font></b></font></p>
  </td>
 <td colspan=3 nowrap width=30% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Colombia</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=6% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Date</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">GDP negative scenario</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">GDP base scenario</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">GDP positive scenario</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">GDP negative scenario</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">GDP base scenario</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">GDP positive scenario</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">GDP negative scenario</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">GDP base scenario</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">GDP positive scenario</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap valign=bottom width=6% 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;">2019</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 style="font-size:6.0pt;">0.34%</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 style="font-size:6.0pt;">2.92%</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 style="font-size:6.0pt;">5.43%</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 style="font-size:6.0pt;">-7.41%</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 style="font-size:6.0pt;">-2.47%</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 style="font-size:6.0pt;">2.40%</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 style="font-size:6.0pt;">1.93%</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 style="font-size:6.0pt;">3.29%</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 style="font-size:6.0pt;">4.58%</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap valign=bottom width=6% 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;">2020</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">0.32%</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 style="font-size:6.0pt;">2.46%</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4.56%</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-6.62%</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 style="font-size:6.0pt;">-2.57%</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 style="font-size:6.0pt;">0.85%</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 style="font-size:6.0pt;">1.71%</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 style="font-size:6.0pt;">2.73%</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 style="font-size:6.0pt;">3.74%</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap valign=bottom width=6% 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;">2021</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3.07%</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3.28%</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3.49%</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 style="font-size:6.0pt;">2.08%</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 style="font-size:6.0pt;">2.30%</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 style="font-size:6.0pt;">2.51%</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 style="font-size:6.0pt;">3.61%</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 style="font-size:6.0pt;">3.61%</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 style="font-size:6.0pt;">3.61%</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap valign=bottom width=6% 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;">2022</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3.39%</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3.39%</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3.39%</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1.64%</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 style="font-size:6.0pt;">1.78%</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 style="font-size:6.0pt;">1.88%</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 style="font-size:6.0pt;">3.59%</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 style="font-size:6.0pt;">3.59%</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 style="font-size:6.0pt;">3.59%</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap valign=bottom width=6% 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;">2023</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3.86%</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3.86%</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3.86%</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1.95%</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 style="font-size:6.0pt;">2.10%</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 style="font-size:6.0pt;">2.23%</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 style="font-size:6.0pt;">3.59%</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 style="font-size:6.0pt;">3.59%</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 style="font-size:6.0pt;">3.59%</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;"><a name="XBRL_TS_59448c0a6b944ae0b1041ecad"></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%;">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:8.0pt;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></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;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:9.0pt;line-height:115%;">7.1.2&#160;&#160; Credit risk
exposure</font></b></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:8.0pt;line-height:115%;">In accordance
with IFRS 7 &#8220;Financial instruments: Disclosures&#8221;, the BBVA Group&#8217;s credit risk
exposure by headings in the balance sheets as of December 31, 2019 and 2018 is
provided below. It does not consider the loss allowances and the availability
of collateral or other credit enhancements to enable compliance with payment
obligations. The details are broken down by financial instruments and
counterparties:</font></font><a name="XBRL_TS_59448c0a6b944ae0b1041ecad_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.2_001EXP_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Maximum
  credit risk exposure (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=50% 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=EN-US style="font-size:7.0pt;">&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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Notes</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Stage 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Stage 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Stage 3</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Financial
  assets held for trading </font></b></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;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">69,503</font></b></font></p>
  </td>
 <td 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=#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;height:10.5pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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=#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>
 </tr>
<tr style="height:10.5pt;">
  <td width=50% 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;">Debt securities</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td 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 style="font-size:7.0pt;">26,309</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=50% 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;">Equity instruments</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">8,892</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td 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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Loans and advances</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">34,303</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=50% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Non-trading
  financial assets mandatorily at fair value through profit or loss</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</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 style="font-size:7.0pt;">5,557</font></b></font></p>
  </td>
 <td width=10% style="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 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="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 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="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 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>
 </tr>
<tr style="height:10.5pt;">
  <td width=50% 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</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">11</font></font></p>
  </td>
 <td 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 style="font-size:7.0pt;">1,120</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=50% 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;">Debt securities</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">11</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">110</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td 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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Equity instruments</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">11</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">4,327</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=50% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Financial
  assets designated at fair value through profit or loss</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=center style="border:none;margin:0cm;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;">12</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 style="font-size:7.0pt;">1,214</font></b></font></p>
  </td>
 <td width=10% style="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 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="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 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="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 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>
 </tr>
<tr style="height:10.5pt;">
  <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Derivatives
  (trading and hedging) </font></b></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=#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:10.5pt;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:7.0pt;">39,462</font></b></font></p>
  </td>
 <td width=10% 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=#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="height:10.5pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% 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=#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>
 </tr>
<tr style="height:18.75pt;">
  <td width=50% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Financial
  assets at fair value through other comprehensive income</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</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 style="font-size:7.0pt;">61,293</font></b></font></p>
  </td>
 <td width=10% 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 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:18.75pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% 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 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>
 </tr>
<tr style="height:10.5pt;">
  <td width=50% 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;">Debt securities</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">13</font></font></p>
  </td>
 <td 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 style="font-size:7.0pt;">58,841</font></font></p>
  </td>
 <td 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 style="font-size:7.0pt;">58,590</font></font></p>
  </td>
 <td 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 style="font-size:7.0pt;">250</font></font></p>
  </td>
 <td 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=50% 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;">Equity instruments</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">13</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">2,420</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td 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;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Loans and
  advances to credit institutions</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">13</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">33</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">33</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Financial
  assets at amortized cost</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">451,640</font></b></font></p>
  </td>
 <td width=10% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">402,024</font></b></font></p>
  </td>
 <td width=10% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">33,624</font></b></font></p>
  </td>
 <td width=10% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">15,993</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=50% 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=EN-US style="font-size:7.0pt;">Loans and
  advances to central banks</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=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td 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 style="font-size:7.0pt;">4,285</font></font></p>
  </td>
 <td 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 style="font-size:7.0pt;">4,285</font></font></p>
  </td>
 <td 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=50% 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=EN-US style="font-size:7.0pt;">Loans and
  advances to credit institutions</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=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">13,664</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">13,500</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">158</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">6</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=50% 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=EN-US style="font-size:7.0pt;">Loans and
  advances to customers</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=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">394,763</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">345,449</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">33,360</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">15,954</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td 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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Debt securities</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 style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">38,930</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">38,790</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">106</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">33</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Total financial
  assets risk</font></b></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;"><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;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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">628,670</font></b></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=right style="border:none;margin:0cm;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=10% 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=#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:10.5pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Total loan
  commitments and financial guarantees</font></b></font></p>
  </td>
 <td width=10% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">33</font></b></font></p>
  </td>
 <td width=10% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">181,116</font></b></font></p>
  </td>
 <td width=10% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">169,663</font></b></font></p>
  </td>
 <td width=10% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">10,452</font></b></font></p>
  </td>
 <td width=10% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">1,001</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=50% style="background:#5AC4C4;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 style="font-size:7.0pt;">Total maximum credit
  exposure</font></b></font></p>
  </td>
 <td width=10% style="background:#5AC4C4;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 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 width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">809,786</font></b></font></p>
  </td>
 <td width=10% style="background:#5AC4C4;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 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 width=10% style="background:#5AC4C4;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 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 width=10% style="background:#5AC4C4;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 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>
 </tr>
</table></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: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:9.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.2_002EXP_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Maximum
  credit risk exposure (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=50% 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=EN-US style="font-size:7.0pt;">&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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Notes</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">December 2018</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Stage 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Stage 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Stage 3</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Financial
  assets held for trading </font></b></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;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">59,581</font></b></font></p>
  </td>
 <td 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=#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;height:10.5pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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=#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>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=50% 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;">Debt securities</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td 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 style="font-size:7.0pt;">25,577</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=50% 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;">Equity instruments</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">5,254</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Loans and advances</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">28,750</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Non-trading
  financial assets mandatorily at fair value through profit or loss</font></b></font></p>
  </td>
 <td width=10% 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 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">5,135</font></b></font></p>
  </td>
 <td width=10% 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=#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="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=10% 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=#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>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=50% 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</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">11</font></font></p>
  </td>
 <td 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 style="font-size:7.0pt;">1,803</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=50% 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;">Debt securities</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">11</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">237</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Equity instruments</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">11</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">3,095</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td valign=bottom width=50% 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=EN-US style="font-size:7.0pt;">Financial
  assets designated at fair value through profit or loss</font></b></font></p>
  </td>
 <td width=10% 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:7.0pt;">12</font></b></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">1,313</font></b></font></p>
  </td>
 <td width=10% style="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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="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:7.0pt;">&nbsp;</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Derivatives
  (trading and hedging) </font></b></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=#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:10.5pt;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:7.0pt;">38,249</font></b></font></p>
  </td>
 <td width=10% 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=#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="height:10.5pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% 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=#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>
 </tr>
<tr style="height:23.25pt;">
  <td valign=bottom width=50% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Financial
  assets at fair value through other comprehensive income</font></b></font></p>
  </td>
 <td width=10% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">56,365</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:23.25pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:23.25pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:23.25pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=50% 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;">Debt securities</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">13</font></font></p>
  </td>
 <td 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 style="font-size:7.0pt;">53,737</font></font></p>
  </td>
 <td 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 style="font-size:7.0pt;">53,734</font></font></p>
  </td>
 <td 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 style="font-size:7.0pt;">3</font></font></p>
  </td>
 <td 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=50% 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;">Equity instruments</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">13</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">2,595</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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:7.0pt;">&nbsp;</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;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Loans and
  advances to credit institutions</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">13</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">33</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">33</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Financial
  assets at amortized cost</font></b></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;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">431,927</font></b></font></p>
  </td>
 <td width=10% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">384,632</font></b></font></p>
  </td>
 <td width=10% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">30,902</font></b></font></p>
  </td>
 <td width=10% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">16,394</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=50% 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=EN-US style="font-size:7.0pt;">Loans and
  advances to central banks</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=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td 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 style="font-size:7.0pt;">3,947</font></font></p>
  </td>
 <td 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 style="font-size:7.0pt;">3,947</font></font></p>
  </td>
 <td 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=50% 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=EN-US style="font-size:7.0pt;">Loans and
  advances to credit institutions</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=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">9,175</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">9,131</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">34</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">10</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=50% 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=EN-US style="font-size:7.0pt;">Loans and
  advances to customers</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=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">386,225</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">339,204</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">30,673</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">16,348</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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Debt securities</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 style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">32,580</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">32,350</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">195</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">35</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Total financial
  assets risk</font></b></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=#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:10.5pt;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:7.0pt;">592,571</font></b></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=right style="border:none;margin:0cm;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=10% 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=#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:10.5pt;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:7.0pt;">&nbsp;</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Total loan
  commitments and financial guarantees</font></b></font></p>
  </td>
 <td width=10% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">33</font></b></font></p>
  </td>
 <td width=10% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">170,511</font></b></font></p>
  </td>
 <td width=10% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">161,404</font></b></font></p>
  </td>
 <td width=10% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">8,120</font></b></font></p>
  </td>
 <td width=10% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">987</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td valign=bottom width=50% style="background:#5AC4C4;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 style="font-size:7.0pt;">Total maximum credit
  exposure</font></b></font></p>
  </td>
 <td width=10% style="background:#5AC4C4;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 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 width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">763,082</font></b></font></p>
  </td>
 <td width=10% style="background:#5AC4C4;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 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 width=10% style="background:#5AC4C4;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 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 width=10% style="background:#5AC4C4;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 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>
 </tr>
</table></div>



<p style="border:none;margin:0cm;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_0222453465f7408c9e20d6629"></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%;">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:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">In the case
of financial instruments recognized in the consolidated balance sheets,
exposure to credit risk is considered equal to its carrying amount (not
including loss allowances) with the only exception of trading and hedging
derivatives.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The maximum
credit risk exposure on financial commitments and guarantees granted is the
maximum that the Group would be liable for if these guarantees were called in, or
the higher amount pending to be disposed from the customer in the case of
commitments.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:14.2pt;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:8.0pt;line-height:115%;">The breakdown by
geographical location and Stage of the maximum credit risk exposure, the
accumulated allowances recorded and the carrying amount of the loans and
advances to customers as of December 31, 2019 and 2018 is shown below:</font></font><a name="XBRL_TS_0222453465f7408c9e20d6629_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.2_provisionesareasdic19_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=13 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:7.0pt;">December 2019</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=13% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=4 width=30% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Gross exposure</font></b></font></p>
  </td>
 <td colspan=4 width=29% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Accumulated allowances</font></b></font></p>
  </td>
 <td colspan=4 width=28% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Carrying amount</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Total</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Stage 1</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Stage 2</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Stage 3</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Total</font></b></font></p>
  </td>
 <td width=7% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Stage 1</font></b></font></p>
  </td>
 <td width=7% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Stage 2</font></b></font></p>
  </td>
 <td width=7% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Stage 3</font></b></font></p>
  </td>
 <td width=7% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Total</font></b></font></p>
  </td>
 <td width=7% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Stage 1</font></b></font></p>
  </td>
 <td width=7% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Stage 2</font></b></font></p>
  </td>
 <td width=7% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Stage 3</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=13% 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;">Spain (*)</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 style="font-size:7.0pt;">197,058</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 style="font-size:7.0pt;">173,843</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:7.0pt;">14,599</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:7.0pt;">8,616</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 style="font-size:7.0pt;">(5,311)</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:7.0pt;">(712)</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:7.0pt;">(661)</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:7.0pt;">(3,939)</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:7.0pt;">191,747</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:7.0pt;">173,131</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:7.0pt;">13,939</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:7.0pt;">4,677</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=13% 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;">The United States</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">57,387</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 style="font-size:7.0pt;">49,744</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">7,011</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:7.0pt;">(688)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(165)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(342)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(182)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">56,699</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">49,580</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">6,670</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">450</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=13% 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;">Mexico</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">60,099</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">54,748</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3,873</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,478</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(2,013)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(697)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(404)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(912)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">58,087</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">54,052</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3,469</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">566</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=13% 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;">Turkey (**)</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">43,113</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">34,536</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">5,127</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3,451</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(2,613)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(189)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(450)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1,974)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">40,500</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">34,347</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,677</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,477</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=13% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">South America (***)</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 style="font-size:7.0pt;">36,265</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 style="font-size:7.0pt;">31,754</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,742</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,769</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 style="font-size:7.0pt;">(1,769)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(366)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(323)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1,079)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">34,497</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">31,388</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,419</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">690</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=13% 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;">Others </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 style="font-size:7.0pt;">839</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 style="font-size:7.0pt;">824</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">7</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">9</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 style="font-size:7.0pt;">(8)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(6)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">832</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">823</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">6</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=13% style="background:#5AC4C4;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:7.0pt;">Total (****)</font></b></font></p>
  </td>
 <td width=8% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">394,763</font></b></font></p>
  </td>
 <td width=8% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">345,449</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">33,360</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">15,954</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">(12,402)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">(2,129)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">(2,181)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">(8,093)</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">382,360</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">343,320</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">31,179</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">7,861</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:1.0cm;margin-right:0cm;margin-top:3.0pt;page-break-after:avoid;text-align:justify;text-indent:-1.0cm;"><a name="XBRL_TS_a3774991e8904346bf1732dcc"></a><a name="XBRL_FS_0d2b2f1374294538948efde32"></a><a name="XBRL_FS_cd6a26d2fbae4aab8f2887359"></a><a name="XBRL_FS_785c06289932418d9f9481a7d"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.5pt;line-height:115%;">(</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">*)&#160;&#160;&#160; Spain includes all countries where BBVA, S.A. operates.</font></font><a name="XBRL_FS_0d2b2f1374294538948efde32_bclEnd"></a><a name="XBRL_FS_785c06289932418d9f9481a7d_bclEnd"></a><a name="XBRL_FS_cd6a26d2fbae4aab8f2887359_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:1.0cm;page-break-after:avoid;text-align:justify;text-indent:-1.0cm;"><a name="XBRL_FS_e6f71f36d0124b2a817cb3f3b"></a><a name="XBRL_FS_e9ff33ad0416421284559ac90"></a><a name="XBRL_FS_18bf64107eb24a27b30cd5794"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(**)&#160;&#160; Turkey
includes all countries in which Garanti BBVA operates.</font></font><a name="XBRL_FS_18bf64107eb24a27b30cd5794_bclEnd"></a><a name="XBRL_FS_e6f71f36d0124b2a817cb3f3b_bclEnd"></a><a name="XBRL_FS_e9ff33ad0416421284559ac90_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:1.0cm;page-break-after:avoid;text-align:justify;text-indent:-1.0cm;"><a name="XBRL_FS_c9ecd04918294e19a1e0165b1"></a><a name="XBRL_FS_c49a016d53a94ea89d4f644b3"></a><a name="XBRL_FS_6a5fe338e81a41c98e67b6311"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(***)&#160; In
South America, BBVA Group operates in Argentina, Colombia, Peru, Uruguay and
Venezuela.</font></font><a name="XBRL_FS_6a5fe338e81a41c98e67b6311_bclEnd"></a><a name="XBRL_FS_c49a016d53a94ea89d4f644b3_bclEnd"></a><a name="XBRL_FS_c9ecd04918294e19a1e0165b1_bclEnd"></a></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:-1.0cm;"><a name="XBRL_FS_0edf35a6ec3e4cd19a2383ee7"></a><a name="XBRL_FS_9102fb9a768f4d4395f4dfa89"></a><a name="XBRL_FS_2bcdbddb5dd34d52aab90521b"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(****) The
amount of the accumulated impairment includes the provisions recorded for
credit risk over the remaining expected lifetime of purchased financial
instruments. Those provisions were determined at the moment of the Purchase
Price Allocation and were originated mainly in the acquisition of Catalunya
Banc S.A. (as of December 31, 2019, the remained balance was &#8364;433 million).
These valuation adjustments are recognized in the income statement during the
residual life of the operations or are applied to the value corrections when
the losses materialize.</font></font><a name="XBRL_FS_0edf35a6ec3e4cd19a2383ee7_bclEnd"></a><a name="XBRL_FS_2bcdbddb5dd34d52aab90521b_bclEnd"></a><a name="XBRL_FS_9102fb9a768f4d4395f4dfa89_bclEnd"></a><a name="XBRL_TS_a3774991e8904346bf1732dcc_bclEnd"></a></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:6.0pt;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-50</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.2_provisionesareasdic18_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=13 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:7.0pt;">December 2018</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=12% style="border:none;height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 width=31% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Gross exposure</font></b></font></p>
  </td>
 <td colspan=4 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Accumulated allowances</font></b></font></p>
  </td>
 <td colspan=4 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Carrying amount</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Total</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Stage 1</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Stage 2</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Stage 3</font></b></font></p>
  </td>
 <td width=7% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Total</font></b></font></p>
  </td>
 <td width=7% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Stage 1</font></b></font></p>
  </td>
 <td width=7% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Stage 2</font></b></font></p>
  </td>
 <td width=7% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Stage 3</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Total</font></b></font></p>
  </td>
 <td width=7% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Stage 1</font></b></font></p>
  </td>
 <td width=7% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Stage 2</font></b></font></p>
  </td>
 <td width=7% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Stage 3</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=12% 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;">Spain (*)</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 style="font-size:7.0pt;">195,447</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 style="font-size:7.0pt;">172,599</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 style="font-size:7.0pt;">12,827</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:7.0pt;">10,021</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:7.0pt;">(5,874)</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:7.0pt;">(713)</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:7.0pt;">(877)</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:7.0pt;">(4,284)</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 style="font-size:7.0pt;">189,574</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:7.0pt;">171,886</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:7.0pt;">11,951</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:7.0pt;">5,737</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=12% 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;">The United States</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">57,321</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">50,665</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">5,923</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">733</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(658)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(206)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(299)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(153)</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">56,663</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">50,459</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">5,624</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">580</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=12% 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;">Mexico</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">52,858</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">48,354</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3,366</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,138</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1,750)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(640)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(373)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(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 style="font-size:7.0pt;">51,107</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">47,714</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,992</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">401</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=12% 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;">Turkey (**)</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">43,718</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">34,883</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">6,113</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,722</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(2,241)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(171)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(591)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1,479)</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">41,479</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">34,712</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">5,523</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,244</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">South America (***)</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 style="font-size:7.0pt;">36,098</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 style="font-size:7.0pt;">31,947</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 style="font-size:7.0pt;">2,436</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 style="font-size:7.0pt;">1,715</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 style="font-size:7.0pt;">(1,656)</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 style="font-size:7.0pt;">(338)</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 style="font-size:7.0pt;">(234)</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 style="font-size:7.0pt;">(1,084)</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 style="font-size:7.0pt;">34,442</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 style="font-size:7.0pt;">31,609</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 style="font-size:7.0pt;">2,202</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 style="font-size:7.0pt;">631</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=12% 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;">Others </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 style="font-size:7.0pt;">783</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 style="font-size:7.0pt;">756</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 style="font-size:7.0pt;">8</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">19</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(19)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(18)</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 style="font-size:7.0pt;">763</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">755</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">7</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=12% style="background:#5AC4C4;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:7.0pt;">Total (****)</font></b></font></p>
  </td>
 <td width=8% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">386,225</font></b></font></p>
  </td>
 <td width=8% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">339,204</font></b></font></p>
  </td>
 <td width=8% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">30,673</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">16,348</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">(12,199)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">(2,070)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">(2,374)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">(7,755)</font></b></font></p>
  </td>
 <td width=8% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">374,027</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">337,134</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">28,299</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">8,593</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:1.0cm;margin-right:0cm;margin-top:3.0pt;page-break-after:avoid;text-align:justify;text-indent:-1.0cm;"><a name="XBRL_TS_808d3f66f068400c85705e256"></a><a name="XBRL_FS_e9724831a76a4f509b91ecd23"></a><a name="XBRL_FS_ce4a7a4560f94fc9be282c8d3"></a><a name="XBRL_FS_75bbff09989e4b7f8063d6114"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.5pt;line-height:115%;">(</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">*)&#160;&#160;&#160; Spain includes all countries where BBVA, S.A. operates.</font></font><a name="XBRL_FS_75bbff09989e4b7f8063d6114_bclEnd"></a><a name="XBRL_FS_ce4a7a4560f94fc9be282c8d3_bclEnd"></a><a name="XBRL_FS_e9724831a76a4f509b91ecd23_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:1.0cm;page-break-after:avoid;text-align:justify;text-indent:-1.0cm;"><a name="XBRL_FS_ba3478386bcd435db93ad3f90"></a><a name="XBRL_FS_232e22d2ce594725883208145"></a><a name="XBRL_FS_8ed710bf10924cd894b7812c0"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(**)&#160;&#160; Turkey
includes all countries in which Garanti BBVA operates.</font></font><a name="XBRL_FS_232e22d2ce594725883208145_bclEnd"></a><a name="XBRL_FS_8ed710bf10924cd894b7812c0_bclEnd"></a><a name="XBRL_FS_ba3478386bcd435db93ad3f90_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-left:1.0cm;page-break-after:avoid;text-align:justify;text-indent:-1.0cm;"><a name="XBRL_FS_4f05fc42648b46abbba624be9"></a><a name="XBRL_FS_8fd97930ece2423b974bcf8d6"></a><a name="XBRL_FS_d21047c99cd84134935781879"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(***)&#160; In
South America, BBVA Group operates in Argentina, Chile, Colombia, Peru, Uruguay
and Venezuela.</font></font><a name="XBRL_FS_4f05fc42648b46abbba624be9_bclEnd"></a><a name="XBRL_FS_8fd97930ece2423b974bcf8d6_bclEnd"></a><a name="XBRL_FS_d21047c99cd84134935781879_bclEnd"></a></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:-1.0cm;"><a name="XBRL_FS_1c7caf6afbaf455ebd8f98f8d"></a><a name="XBRL_FS_edd0248ad7d6430aad1644697"></a><a name="XBRL_FS_44d2b2b60cd04b1fabe263b88"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(****) The
amount of the accumulated impairment includes the provisions recorded for
credit risk over the remaining expected lifetime of purchased financial
instruments. Those provisions were determined at the moment of the Purchase
Price Allocation and were originated mainly in the acquisition of Catalunya
Banc S.A. (as of December 31, 2018 the remained balance was &#8364;540 million). These
valuation adjustments are recognized in the income statement during the
residual life of the operations or are applied to the value corrections when
the losses materialize.</font></font><a name="XBRL_FS_1c7caf6afbaf455ebd8f98f8d_bclEnd"></a><a name="XBRL_FS_44d2b2b60cd04b1fabe263b88_bclEnd"></a><a name="XBRL_FS_edd0248ad7d6430aad1644697_bclEnd"></a><a name="XBRL_TS_808d3f66f068400c85705e256_bclEnd"></a></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;vertical-align:top;"><a name="XBRL_TS_d28cdaae1e864a10b858969b8"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:12.0pt;">The
breakdown by counterparty of the maximum credit risk exposure, the accumulated
allowances recorded, as well as the carrying amount by stages of loans and
advances to customers as of December 31, 2019 and 2018 is shown below:</font></font><a name="XBRL_TS_d28cdaae1e864a10b858969b8_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.1_CLIENTELA19_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=13 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:7.0pt;">December 2019
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=12% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 nowrap width=31% 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:7.0pt;">Gross exposure</font></b></font></p>
  </td>
 <td colspan=4 nowrap width=28% 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:7.0pt;">Accumulated allowances</font></b></font></p>
  </td>
 <td colspan=4 nowrap width=29% 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:7.0pt;">Net amount</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=12% 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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</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=center style="border:none;margin:0cm;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;">Total</font></b></font></p>
  </td>
 <td nowrap width=8% 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:7.0pt;">Stage 1</font></b></font></p>
  </td>
 <td nowrap width=8% 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><i><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Stage 2</font></i></b></font></p>
  </td>
 <td nowrap width=7% 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><i><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Stage 3</font></i></b></font></p>
  </td>
 <td nowrap width=7% 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:7.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=7% 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:7.0pt;">Stage 1</font></b></font></p>
  </td>
 <td nowrap width=7% 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><i><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Stage 2</font></i></b></font></p>
  </td>
 <td nowrap width=7% 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><i><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Stage 3</font></i></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=center style="border:none;margin:0cm;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;">Total</font></b></font></p>
  </td>
 <td nowrap width=7% 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:7.0pt;">Stage 1</font></b></font></p>
  </td>
 <td nowrap width=7% 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><i><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Stage 2</font></i></b></font></p>
  </td>
 <td nowrap width=7% 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><i><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Stage 3</font></i></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=12% 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;">Public
  administrations</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 style="font-size:7.0pt;">28,281</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 style="font-size:7.0pt;">27,511</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 style="font-size:7.0pt;">682</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:7.0pt;">88</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:8.0pt;">(59)</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:8.0pt;">(15)</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:8.0pt;">(22)</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:8.0pt;">(21)</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 style="font-size:7.0pt;">28,222</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:7.0pt;">27,496</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:7.0pt;">660</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:7.0pt;">66</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=12% 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;">Other financial
  corporations</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">11,239</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">11,085</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">136</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">17</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(31)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(19)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(2)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(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 style="font-size:7.0pt;">11,207</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">11,066</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">134</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">8</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=12% 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;">Non-financial
  corporations</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">173,254</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 style="font-size:7.0pt;">148,768</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 style="font-size:7.0pt;">16,018</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">8,468</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(6,465)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(811)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(904)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(4,750)</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 style="font-size:7.0pt;">166,789</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">147,957</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">15,114</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3,718</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=12% 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;">Individuals</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 style="font-size:7.0pt;">181,989</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 style="font-size:7.0pt;">158,085</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 style="font-size:7.0pt;">16,523</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">7,381</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(5,847)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1,283)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1,252)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(3,312)</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 style="font-size:7.0pt;">176,142</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">156,801</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">15,272</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,069</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=12% style="background:#5AC4C4;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=EN-US style="font-size:7.0pt;">Loans and
  advances to customers</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:7.0pt;">394,763</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:7.0pt;">345,449</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:7.0pt;">33,360</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:7.0pt;">15,954</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:8.0pt;">(12,402)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:8.0pt;">(2,129)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:8.0pt;">(2,181)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:8.0pt;">(8,093)</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:7.0pt;">382,360</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:7.0pt;">343,320</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:7.0pt;">31,179</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:7.0pt;">7,861</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;vertical-align:top;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;line-height:12.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.1_CLIENTELA18_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=13 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:7.0pt;">December 2018
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=12% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 nowrap width=31% 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:7.0pt;">Gross exposure</font></b></font></p>
  </td>
 <td colspan=4 nowrap width=29% 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:7.0pt;">Accumulated allowances</font></b></font></p>
  </td>
 <td colspan=4 nowrap width=28% 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:7.0pt;">Net amount</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=12% 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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</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=center style="border:none;margin:0cm;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;">Total</font></b></font></p>
  </td>
 <td nowrap width=8% 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><i><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Stage 1</font></i></b></font></p>
  </td>
 <td nowrap width=8% 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><i><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Stage 2</font></i></b></font></p>
  </td>
 <td nowrap width=7% 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><i><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Stage 3</font></i></b></font></p>
  </td>
 <td nowrap width=7% 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:7.0pt;">Total</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=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:7.0pt;">Stage 1</font></i></b></font></p>
  </td>
 <td nowrap width=7% 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><i><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Stage 2</font></i></b></font></p>
  </td>
 <td nowrap width=7% 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><i><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Stage 3</font></i></b></font></p>
  </td>
 <td nowrap width=7% 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><i><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Total</font></i></b></font></p>
  </td>
 <td nowrap width=7% 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><i><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Stage 1</font></i></b></font></p>
  </td>
 <td nowrap width=7% 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><i><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Stage 2</font></i></b></font></p>
  </td>
 <td nowrap width=7% 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:7.0pt;">Stage 3</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=12% 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;">Public
  administrations</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 style="font-size:8.0pt;">28,632</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 style="font-size:8.0pt;">27,740</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 style="font-size:8.0pt;">764</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:8.0pt;">128</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:8.0pt;">(84)</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 style="font-size:8.0pt;">(21)</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:8.0pt;">(25)</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:8.0pt;">(38)</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:8.0pt;">28,549</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:8.0pt;">27,719</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:8.0pt;">739</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:8.0pt;">91</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=12% 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;">Other financial
  corporations</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">9,490</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">9,189</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">291</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">11</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(22)</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(13)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(4)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(4)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">9,468</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">9,176</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">286</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">6</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=12% 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;">Non-financial
  corporations</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">169,764</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 style="font-size:8.0pt;">145,875</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">15,516</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">8,372</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(6,260)</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(730)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1,190)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(4,341)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">163,503</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">145,145</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">14,327</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,031</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=12% 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;">Individuals</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 style="font-size:8.0pt;">178,339</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 style="font-size:8.0pt;">156,400</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 style="font-size:8.0pt;">14,102</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">7,838</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(5,833)</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 style="font-size:8.0pt;">(1,305)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1,155)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(3,372)</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">172,506</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">155,094</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">12,946</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,466</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=12% style="background:#5AC4C4;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=EN-US style="font-size:7.0pt;">Loans and
  advances to customers</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">386,225</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">339,204</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">30,673</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:8.0pt;">16,348</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:8.0pt;">(12,199)</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">(2,070)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:8.0pt;">(2,374)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:8.0pt;">(7,755)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:8.0pt;">374,027</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:8.0pt;">337,134</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:8.0pt;">28,299</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:8.0pt;">8,593</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;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_e16e50a6dce8498a88ad6cf79"></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%;">The breakdown by counterparty and product of loans and advances,
net of loss allowances, as well as the gross carrying amount by type of
product, classified in different headings of the assets, as of December 31,
2019, 2018 and 2017 is shown below:</font></font><a name="XBRL_TS_e16e50a6dce8498a88ad6cf79_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7_011_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:9.0pt;">
  <td colspan=9 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:5.0pt;">December 2019
  (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=#0066CC face=Arial,sans-serif style="border:none;"><b><font color=#0066CC face=Arial,sans-serif style="font-size:5.0pt;">&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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">General governments</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Other financial corporations</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Non-financial corporations</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Households</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Total</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Gross carrying amount</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:5.0pt;">By product</font></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom 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=EN-US style="font-size:5.0pt;">On demand and
  short notice</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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">9</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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">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 style="font-size:5.0pt;">2,328</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">595</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">3,050</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">3,251</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom 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 style="font-size:5.0pt;">Credit card debt</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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">10</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 style="font-size:5.0pt;">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 style="font-size:5.0pt;">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 style="font-size:5.0pt;">1,940</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">14,401</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 style="font-size:5.0pt;">16,355</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">17,608</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom 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 style="font-size:5.0pt;">Commercial debtors</font></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;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:5.0pt;">&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 style="font-size:5.0pt;">971</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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">230</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">15,976</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">99</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">17,276</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">17,617</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom 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 style="font-size:5.0pt;">Finance leases</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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">227</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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">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 style="font-size:5.0pt;">8,091</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">387</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">8,711</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 style="font-size:5.0pt;">9,095</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom 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 style="font-size:5.0pt;">Reverse repurchase
  loans</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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">1,817</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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">1,843</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">1,848</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom 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 style="font-size:5.0pt;">Other term loans</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 style="font-size:5.0pt;">4,240</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">26,734</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 style="font-size:5.0pt;">4,121</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">7,795</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">137,934</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 style="font-size:5.0pt;">160,223</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">341,047</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 style="font-size:5.0pt;">351,230</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom 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=EN-US style="font-size:5.0pt;">Advances that
  are not loans</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 style="font-size:5.0pt;">35</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 style="font-size:5.0pt;">865</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 style="font-size:5.0pt;">7,743</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 style="font-size:5.0pt;">3,056</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 style="font-size:5.0pt;">951</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 style="font-size:5.0pt;">506</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 style="font-size:5.0pt;">13,156</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 style="font-size:5.0pt;">13,214</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=26% style="background:#5AC4C4;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:5.0pt;">LOANS AND ADVANCES</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:5.0pt;">4,275</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:5.0pt;">28,816</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:5.0pt;">13,682</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:5.0pt;">11,208</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:5.0pt;">167,246</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:5.0pt;">176,211</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:5.0pt;">401,438</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:5.0pt;">413,863</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:5.0pt;">By secured loans</font></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=26% 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;"><i><font color=gray face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Of which:
  mortgage loans collateralized by immovable property</font></i></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;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=EN-US style="font-size:5.0pt;">&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 style="font-size:5.0pt;">1,067</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 style="font-size:5.0pt;">15</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">261</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">23,575</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">111,085</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">136,003</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">139,317</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=26% 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;"><i><font color=gray face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Of which: other
  collateralized loans</font></i></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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">10,447</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 style="font-size:5.0pt;">93</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">2,106</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 style="font-size:5.0pt;">29,009</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">6,893</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">48,548</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">49,266</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">By purpose of
  the loan</font></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=26% 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;"><i><font color=gray face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Of which: credit for consumption</font></i></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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=EN-US style="font-size:5.0pt;">&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 style="font-size:5.0pt;">46,356</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">46,356</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">49,474</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=26% 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;"><i><font color=gray face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Of which:
  lending for house purchase</font></i></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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=EN-US style="font-size:5.0pt;">&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 style="font-size:5.0pt;">110,178</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">110,178</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">111,636</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:5.0pt;">By subordination</font></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=26% 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;"><i><font color=gray face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Of which:
  project finance loans</font></i></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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=EN-US style="font-size:5.0pt;">&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 style="font-size:5.0pt;">12,259</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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:5.0pt;">&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 style="font-size:5.0pt;">12,259</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">12,415</font></font></p>
  </td>
 </tr>
</table></div>




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<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;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:9.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7_012_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:5.0pt;">December 2018
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:29.25pt;">
  <td width=27% 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 face=Arial,sans-serif style="border:none;"><b><font color=#0066CC face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Households</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Total</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Gross carrying amount</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:5.0pt;">By product</font></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&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=EN-US style="font-size:5.0pt;">On demand and
  short notice</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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">151</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 style="font-size:5.0pt;">2,833</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 style="font-size:5.0pt;">648</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 style="font-size:5.0pt;">3,641</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 style="font-size:5.0pt;">3,834</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:5.0pt;">Credit card debt</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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">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 style="font-size:5.0pt;">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 style="font-size:5.0pt;">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 style="font-size:5.0pt;">2,328</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 style="font-size:5.0pt;">13,108</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 style="font-size:5.0pt;">15,446</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 style="font-size:5.0pt;">16,495</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:5.0pt;">Commercial debtors</font></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&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 style="font-size:5.0pt;">948</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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">195</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 style="font-size:5.0pt;">16,190</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 style="font-size:5.0pt;">103</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 style="font-size:5.0pt;">17,436</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 style="font-size:5.0pt;">17,716</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:5.0pt;">Finance leases</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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">226</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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">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 style="font-size:5.0pt;">8,014</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 style="font-size:5.0pt;">406</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 style="font-size:5.0pt;">8,650</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 style="font-size:5.0pt;">9,077</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:5.0pt;">Reverse repurchase
  loans</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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">293</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 style="font-size:5.0pt;">477</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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">770</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 style="font-size:5.0pt;">772</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:5.0pt;">Other term loans</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 style="font-size:5.0pt;">3,911</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 style="font-size:5.0pt;">26,839</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 style="font-size:5.0pt;">2,947</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 style="font-size:5.0pt;">7,030</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 style="font-size:5.0pt;">133,573</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 style="font-size:5.0pt;">157,760</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 style="font-size:5.0pt;">332,060</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 style="font-size:5.0pt;">342,264</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=EN-US style="font-size:5.0pt;">Advances that
  are not loans</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 style="font-size:5.0pt;">29</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 style="font-size:5.0pt;">1,592</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 style="font-size:5.0pt;">5,771</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 style="font-size:5.0pt;">2,088</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 style="font-size:5.0pt;">984</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 style="font-size:5.0pt;">498</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 style="font-size:5.0pt;">10,962</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 style="font-size:5.0pt;">11,025</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=27% style="background:#5AC4C4;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 style="font-size:5.0pt;">LOANS AND ADVANCES</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:5.0pt;">3,941</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:5.0pt;">29,917</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:5.0pt;">9,196</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:5.0pt;">9,468</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:5.0pt;">163,922</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:5.0pt;">172,522</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:5.0pt;">388,966</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:5.0pt;">401,183</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:5.0pt;">By secured loans</font></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=27% style="height:11.1pt;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;"><i><font color=gray face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Of which:
  mortgage loans collateralized by immovable property</font></i></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <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=EN-US style="font-size:5.0pt;">&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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">1,056</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">15</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">219</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">26,784</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">111,809</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">139,883</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">144,005</font></i></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=27% style="height:11.1pt;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;"><i><font color=gray face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Of which: other
  collateralized loans</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">-</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">7,179</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">285</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">1,389</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">31,393</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">6,835</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">47,081</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">47,855</font></i></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=27% style="height:11.1pt;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=EN-US style="font-size:5.0pt;">By purpose of
  the loan</font></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <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=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <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=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <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=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <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=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <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=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <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=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <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=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <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=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=27% 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;"><i><font color=gray face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Of which: credit
  for consumption</font></i></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">40,124</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">40,124</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">42,736</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=27% 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;"><i><font color=gray face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Of which:
  lending for house purchase</font></i></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">111,007</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">111,007</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">112,952</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=27% 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:5.0pt;">By subordination</font></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=27% 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;"><i><font color=gray face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Of which:
  project finance loans</font></i></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">13,973</font></i></font></p>
  </td>
 <td nowrap width=9% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">&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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">13,973</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">14,286</font></i></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;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7_013anual_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:5.0pt;">December 2017
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td width=29% 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 face=Arial,sans-serif style="border:none;"><b><font color=#0066CC face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Central banks</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">General governments</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Credit institutions</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Other financial corporations</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Non-financial corporations</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Households</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=29% 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=EN-US style="font-size:5.0pt;">On demand and
  short notice</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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">222</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">270</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 style="font-size:5.0pt;">7,663</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 style="font-size:5.0pt;">2,405</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 style="font-size:5.0pt;">10,560</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=29% 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:5.0pt;">Credit card debt</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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">6</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">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 style="font-size:5.0pt;">1,862</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 style="font-size:5.0pt;">13,964</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 style="font-size:5.0pt;">15,835</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=29% 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:5.0pt;">Trade receivables</font></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</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 style="font-size:5.0pt;">1,624</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">497</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 style="font-size:5.0pt;">20,385</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 style="font-size:5.0pt;">198</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 style="font-size:5.0pt;">22,705</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=29% 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:5.0pt;">Finance leases</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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">205</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">36</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 style="font-size:5.0pt;">8,040</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 style="font-size:5.0pt;">361</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 style="font-size:5.0pt;">8,642</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=29% 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:5.0pt;">Reverse repurchase
  loans</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 style="font-size:5.0pt;">305</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 style="font-size:5.0pt;">1,290</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.0pt;">13,793</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 style="font-size:5.0pt;">10,912</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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">-</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 style="font-size:5.0pt;">26,300</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=29% 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:5.0pt;">Other term loans</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 style="font-size:5.0pt;">6,993</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 style="font-size:5.0pt;">26,983</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.0pt;">4,463</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 style="font-size:5.0pt;">5,763</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 style="font-size:5.0pt;">125,228</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 style="font-size:5.0pt;">155,418</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 style="font-size:5.0pt;">324,848</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td valign=bottom width=29% 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=EN-US style="font-size:5.0pt;">Advances that
  are not loans</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 style="font-size:5.0pt;">2</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 style="font-size:5.0pt;">1,964</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:5.0pt;">8,005</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 style="font-size:5.0pt;">1,044</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 style="font-size:5.0pt;">1,459</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 style="font-size:5.0pt;">522</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 style="font-size:5.0pt;">12,995</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=29% style="background:#5AC4C4;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 style="font-size:5.0pt;">LOANS AND ADVANCES</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:5.0pt;">7,301</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:5.0pt;">32,294</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:5.0pt;">26,261</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:5.0pt;">18,525</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:5.0pt;">164,637</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:5.0pt;">172,868</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:5.0pt;">421,886</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=29% style="border:none;height:11.1pt;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;"><i><font color=gray face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Of which:
  mortgage loans (Loans collateralized by immovable property)</font></i></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">998</font></i></font></p>
  </td>
 <td nowrap width=11% 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">-</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">308</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">37,353</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">116,938</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">155,597</font></i></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=29% style="height:11.1pt;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;"><i><font color=gray face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Of which: other
  collateralized loans</font></i></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <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=EN-US style="font-size:5.0pt;">&nbsp;</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">7,167</font></i></font></p>
  </td>
 <td nowrap width=11% 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">13,501</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">12,907</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">24,100</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">9,092</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">66,767</font></i></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=29% style="height:11.1pt;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;"><i><font color=gray face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Of which: credit
  for consumption</font></i></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <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=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <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=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="background:#E9E9E9;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <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=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <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=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <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=EN-US style="font-size:5.0pt;">&nbsp;</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">40,705</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">40,705</font></i></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=29% style="height:11.1pt;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;"><i><font color=gray face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Of which:
  lending for house purchase</font></i></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <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=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <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=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="background:#E9E9E9;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <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=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <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=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <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=EN-US style="font-size:5.0pt;">&nbsp;</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">114,709</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">114,709</font></i></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td width=29% style="height:11.1pt;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;"><i><font color=gray face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Of which:
  project finance loans</font></i></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <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=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <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=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="background:#E9E9E9;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <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=EN-US style="font-size:5.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <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=EN-US style="font-size:5.0pt;">&nbsp;</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">16,412</font></i></font></p>
  </td>
 <td nowrap width=10% style="background:#E9E9E9;height:11.1pt;padding:0cm 0cm 0cm 0cm;">
  <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 style="font-size:5.0pt;">&nbsp;</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">16,412</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:10.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_6c0cc1a0a35d440b8e04ae4ca"></a><a name="_Toc105960"></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:9.0pt;line-height:115%;">7.1.3&#160;&#160; Mitigation of
credit risk, collateralized credit risk and other credit enhancements</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:8.0pt;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;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%;">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;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Assessment
of the repayment risk (asset liquidity) of the guarantees received.</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-52</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">This is carried out through a prudent risk policy that consists of
the analysis of the financial risk, based on the capacity for reimbursement or
generation of resources of the borrower, the analysis of the guarantee,
assessing, among others, the efficiency, the robustness and the risk, the
adequacy of the guarantee with the operation and other aspects such as the
location, currency, concentration or the existence of limitations.
Additionally, the necessary tasks for the constitution of guarantees must be
carried out - in any of the generally accepted forms (collaterals, personal
guarantees and financial hedge instruments) - appropriate to the risk 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:8.0pt;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. The criteria for the systematic, standardized and effective
treatment of collateral in credit transaction procedures in BBVA Group&#8217;s
wholesale and retail banking are included in the Specific Collateral Rules.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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;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%;">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;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Debt instruments
held for trading: The guarantees or credit enhancements obtained directly from
the issuer or counterparty are implicit in the clauses of the instrument (mainly
guarantees of the issuer).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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 (mainly collaterals).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The summary
of the compensation effect (via netting and collateral) for derivatives and
securities operations is presented in Note 7.2.2.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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 (mainly personal guarantees).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">As of December
31, 2019 and 2018, BBVA Group had no credit risk exposure of impaired financial
assets at fair value through other comprehensive income (see Note 7.1.2).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Financial
assets at amortized cost:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:57.55pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Loans and advances to credit
institutions: These usually have the counterparty&#8217;s personal guarantee or
pledged securities in the case of repos.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:57.55pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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 or insurances).</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:57.55pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-17.85pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Financial </font></font><font color=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">guarantees</font></font><font color=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">, other contingent risks and drawable by third
parties: these have the counterparty&#8217;s personal guarantee or other types of
collaterals.</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:8.0pt;line-height:115%;">The
disclosure of impaired loans and advances at amortized cost covered by
collateral (see Note 7.1.2), by type of collateral, as of December 31, 2019 and
2018, is the following:</font></font><a name="XBRL_TS_6c0cc1a0a35d440b8e04ae4ca_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.2_098_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">December 2019
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=28% 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 style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td rowspan=2 width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.5pt;">Maximum exposure to credit risk</font></b></font></p>
  </td>
 <td colspan=5 width=60% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.5pt;">Of which secured by collateral</font></b></font></p>
  </td>
 </tr>
<tr style="height:20.25pt;">
  <td width=28% style="border:none;border-bottom: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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.5pt;">Residential properties</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.5pt;">Commercial properties</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.5pt;">Cash</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.5pt;">Others</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.5pt;">Financial</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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=EN-US style="font-size:8.0pt;">Impaired loans
  and advances at amortized cost</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">15,959</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">3,396</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">939</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">35</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">221</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">542</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=28% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">15,959</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">3,396</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">939</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">35</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">221</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">542</font></b></font></p>
  </td>
 </tr>
</table></div>



<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:9.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.2_098.1_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">December 2018
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% 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 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.5pt;">Maximum exposure to credit risk</font></b></font></p>
  </td>
 <td colspan=5 width=56% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.5pt;">Of which secured by collateral</font></b></font></p>
  </td>
 </tr>
<tr style="height:20.25pt;">
  <td width=33% style="border:none;border-bottom: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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.5pt;">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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.5pt;">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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.5pt;">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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.5pt;">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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.5pt;">Financial</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=33% 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=EN-US style="font-size:8.0pt;">Impaired loans
  and advances 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 style="font-size:8.0pt;">16,359</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">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 style="font-size:8.0pt;">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 style="font-size:8.0pt;">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 style="font-size:8.0pt;">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 style="font-size:8.0pt;">502</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=33% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">16,359</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">3,484</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">1,255</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">13</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">317</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">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;page-break-after:avoid;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_fa3e3033285b482eb738341a9"></a><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The value of guarantees received as of December 31, 2019 and 2018,
is the following:</font></font><a name="XBRL_TS_fa3e3033285b482eb738341a9_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.2_004IPP_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Guarantees
  received (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=65% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=65% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Value of collateral</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">152,454 </font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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;">158,268 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=65% 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=EN-US style="font-size:8.0pt;">Of which:
  guarantees normal risks under special monitoring</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">14,623 </font></i></font></p>
  </td>
 <td nowrap width=17% 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">14,087 </font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=65% 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;"><i><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Of which:
  guarantees non-performing risks</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">4,590 </font></i></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">5,068 </font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=65% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Value of other
  guarantees</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">35,464 </font></b></font></p>
  </td>
 <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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;">16,897 </font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=65% 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=EN-US style="font-size:8.0pt;">Of which:
  guarantees normal risks under special monitoring</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">3,306 </font></i></font></p>
  </td>
 <td nowrap width=17% 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">1,519 </font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=65% 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;"><i><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Of which:
  guarantees non-performing risks</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">542 </font></i></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">502 </font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=65% style="background:#5AC4C4;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=EN-US style="font-size:8.0pt;">Total value of
  guarantees received</font></b></font></p>
  </td>
 <td width=18% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">187,918 </font></b></font></p>
  </td>
 <td width=17% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">175,165 </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-53</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_294"></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:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:0cm;"><a name="XBRL_TS_f0333cab0e7b454dac00e502c"></a><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The maximum credit risk exposure of impaired financial guarantees
and other commitments at December 31, 2019 and 2018 amounts to &#8364;1,001 and &#8364;987
million, respectively (see Note 7.1.2).</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;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:9.0pt;line-height:115%;">7.1.4&#160;&#160; Credit
quality of financial assets that are neither past due nor impaired</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:8.0pt;line-height:115%;">The BBVA Group has
tools 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:avoid;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:8.0pt;">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:8.0pt;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>

<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:8.0pt;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;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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 style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">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-approve 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:avoid;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:8.0pt;">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:8.0pt;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:8.0pt;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:8.0pt;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:8.0pt;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>


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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-54</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_295"></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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The table below shows the
abridged scale used to classify the BBVA Group&#8217;s outstanding risk as of
December 31, 2019:</font></font><a name="XBRL_TS_f0333cab0e7b454dac00e502c_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.2_031_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:24.75pt;">
  <td width=23% 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;">External rating</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: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;">Internal rating</font></b></font></p>
  </td>
 <td colspan=3 width=61% 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=EN-US 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 lang=EN-US style="font-size:8.0pt;">(basic points)</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.95pt;">
  <td width=23% 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 style="font-size:8.0pt;">Standard&amp;Poor's List</font></b></font></p>
  </td>
 <td width=16% 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 style="font-size:8.0pt;">Reduced List (22 groups)</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 style="font-size:8.0pt;">Average</font></b></font></p>
  </td>
 <td width=20% 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 style="font-size:8.0pt;">Minimum from &gt;=</font></b></font></p>
  </td>
 <td width=20% 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 style="font-size:8.0pt;">Maximum </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 align=center style="border:none;margin: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;">AAA</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">AAA</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 style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">0</font></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">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 align=center style="border:none;margin: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;">AA+</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">AA+</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 style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3</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 align=center style="border:none;margin: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;">AA</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">AA</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 style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4</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 align=center style="border:none;margin: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;">AA-</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">AA-</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 style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5</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 align=center style="border:none;margin: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;">A+</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">A+</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 style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6</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 align=center style="border:none;margin: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;">A</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">A</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 style="font-size:8.0pt;">8</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">9</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 align=center style="border:none;margin: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;">A-</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">A-</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 style="font-size:8.0pt;">10</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">9</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">11</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 align=center style="border:none;margin: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;">BBB+</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">BBB+</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 style="font-size:8.0pt;">14</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">11</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">17</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 align=center style="border:none;margin: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;">BBB</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">BBB</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 style="font-size:8.0pt;">20</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">17</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">24</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 align=center style="border:none;margin: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;">BBB-</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">BBB-</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 style="font-size:8.0pt;">31</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">24</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">39</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 align=center style="border:none;margin: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;">BB+</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">BB+</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 style="font-size:8.0pt;">51</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">39</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">67</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 align=center style="border:none;margin: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;">BB</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">BB</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 style="font-size:8.0pt;">88</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">67</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">116</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 align=center style="border:none;margin: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;">BB-</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">BB-</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 style="font-size:8.0pt;">150</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">116</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">194</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 align=center style="border:none;margin: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;">B+</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">B+</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 style="font-size:8.0pt;">255</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">194</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">335</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 align=center style="border:none;margin: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;">B</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">B</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 style="font-size:8.0pt;">441</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">335</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">581</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 align=center style="border:none;margin: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;">B-</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">B-</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 style="font-size:8.0pt;">785</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">581</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,061</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 align=center style="border:none;margin: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;">CCC+</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">CCC+</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 style="font-size:8.0pt;">1,191</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,061</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,336</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 align=center style="border:none;margin: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;">CCC</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">CCC</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 style="font-size:8.0pt;">1,500</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,336</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,684</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 align=center style="border:none;margin: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;">CCC-</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">CCC-</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 style="font-size:8.0pt;">1,890</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,684</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,121</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 align=center style="border:none;margin: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;">CC+</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">CC+</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 style="font-size:8.0pt;">2,381</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,121</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,673</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 align=center style="border:none;margin: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;">CC</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">CC</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 style="font-size:8.0pt;">3,000</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,673</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,367</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 align=center style="border:none;margin: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;">CC-</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">CC-</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 style="font-size:8.0pt;">3,780</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,367</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,243</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:3.0pt;text-align:justify;"><a name="XBRL_TS_51afbc9e3a644ad583bc270f2"></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%;">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:8.0pt;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:8.0pt;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 terms of the BBVA Group as of December 31,
2019 and 2018</font></font><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_51afbc9e3a644ad583bc270f2_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.2_UNIFICADA032_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:9.0pt;">
  <td colspan=5 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Probability
  of default (basis points)</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=20% style="border:none;height:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 nowrap width=40% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">December 2019</font></b></font></p>
  </td>
 <td colspan=2 nowrap width=40% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">December 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.75pt;">
  <td width=20% style="height:27.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=20% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Subject to 12 month ECL (</font></b><b><i><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Stage&nbsp;</font></i></b></font><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;"> 1)</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Subject to lifetime ECL (</font></b><b><i><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Stage&nbsp;</font></i></b></font><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;"> 2)</font></b></font></p>
  </td>
 <td width=20% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Subject to 12 month ECL (</font></b></font><font color=#072146 face=Arial,sans-serif style="border:none;"><b><i><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Stage</font></i></b></font><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;"> 1)</font></b></font></p>
  </td>
 <td width=20% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Subject to lifetime ECL </font></b></font><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(</font></b><b><i><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Stage&nbsp;</font></i></b><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;"> 2)</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=20% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=20% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">%</font></b></font></p>
  </td>
 <td width=20% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">%</font></b></font></p>
  </td>
 <td width=20% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">%</font></b></font></p>
  </td>
 <td width=20% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">%</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap valign=bottom 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 style="font-size:7.0pt;">0 to 2</font></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:7.0pt;">5.5 </font></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:7.0pt;">9.6 </font></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap valign=bottom 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:7.0pt;">2 to 5</font></font></p>
  </td>
 <td nowrap width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">6.3 </font></font></p>
  </td>
 <td nowrap width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">10.8 </font></font></p>
  </td>
 <td nowrap width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">0.1 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap valign=bottom 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:7.0pt;">5 to 11</font></font></p>
  </td>
 <td nowrap width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">14.6 </font></font></p>
  </td>
 <td nowrap width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">0.2 </font></font></p>
  </td>
 <td nowrap width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">6.3 </font></font></p>
  </td>
 <td nowrap width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap valign=bottom 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:7.0pt;">11 to 39</font></font></p>
  </td>
 <td nowrap width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">24.5 </font></font></p>
  </td>
 <td nowrap width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">0.8 </font></font></p>
  </td>
 <td nowrap width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">20.9 </font></font></p>
  </td>
 <td nowrap width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">0.4 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap valign=bottom 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:7.0pt;">39 to 194</font></font></p>
  </td>
 <td nowrap width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">24.5 </font></font></p>
  </td>
 <td nowrap width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">1.6 </font></font></p>
  </td>
 <td nowrap width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">30.1 </font></font></p>
  </td>
 <td nowrap width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">1.8 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap valign=bottom 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:7.0pt;">194 to 1,061</font></font></p>
  </td>
 <td nowrap width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">14.0 </font></font></p>
  </td>
 <td nowrap width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">3.6 </font></font></p>
  </td>
 <td nowrap width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">12.2 </font></font></p>
  </td>
 <td nowrap width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">3.6 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap valign=bottom 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:7.0pt;">1,061 to 2,121</font></font></p>
  </td>
 <td nowrap width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">1.4 </font></font></p>
  </td>
 <td nowrap width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">1.2 </font></font></p>
  </td>
 <td nowrap width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">1.6 </font></font></p>
  </td>
 <td nowrap width=20% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">1.2 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap valign=bottom width=20% 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;">&gt; 2,121</font></font></p>
  </td>
 <td nowrap width=20% 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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">0.4 </font></font></p>
  </td>
 <td nowrap width=20% 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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">1.5 </font></font></p>
  </td>
 <td nowrap width=20% 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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">0.2 </font></font></p>
  </td>
 <td nowrap width=20% 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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">1.2 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=20% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td width=20% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">91.0 </font></b></font></p>
  </td>
 <td width=20% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">9.0 </font></b></font></p>
  </td>
 <td width=20% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">91.7 </font></b></font></p>
  </td>
 <td width=20% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">8.3 </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;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_e4503a15077f4000810d67793"></a><a name="_Toc449684191"></a><a name="_Toc376949910"></a><a name="_Toc376972318"></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:9.0pt;line-height:115%;">7.1.5&#160;&#160; Impaired secured loan risks</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;"><a name="_Toc376949914"></a><a name="_Toc376972322"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;line-height:115%;">T</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">he breakdown of loans and
advances, within financial assets at amortized cost, non-performing and
accumulated impairment, as well as the gross carrying amount, by counterparties
as of December 31, 2019, 2018 and 2017 is as follows:</font></font><a name="XBRL_TS_e4503a15077f4000810d67793_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7_052_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">December 2019
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:90.75pt;">
  <td width=41% style="border:none;border-bottom:solid black 1.0pt;height:90.75pt;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:90.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Gross carrying amount</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:90.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Non-performing loans and advances</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:90.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Accumulated impairment </font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:90.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Non-performing loans and advances as a % of the total</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=41% 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 style="font-size:8.0pt;">Central banks</font></b></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:8.0pt;">4,285</font></b></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:8.0pt;">(9)</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">General governments</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">28,281</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">88</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(60)</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">0.3%</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Credit institutions</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">13,664</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">6</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(15)</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Other financial
  corporations</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">11,239</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">17</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(31)</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Non-financial
  corporations</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">173,254</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">8,467</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(6,465)</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">4.9%</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 style="font-size:8.0pt;">Agriculture, forestry
  and fishing</font></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:8.0pt;">3,758</font></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:8.0pt;">154</font></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:8.0pt;">(124)</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">4.1%</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 style="font-size:8.0pt;">Mining and quarrying</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,669</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(86)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2.1%</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 style="font-size:8.0pt;">Manufacturing</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">39,517</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,711</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1,242)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4.3%</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=EN-US style="font-size:8.0pt;">Electricity,
  gas, steam and air conditioning supply</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">12,305</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">684</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(575)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5.6%</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;">Water supply</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">900</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">14</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(16)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1.6%</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;">Construction</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">10,945</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,377</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(876)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">12.6%</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;">Wholesale and retail
  trade</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">27,467</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,799</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1,448)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6.6%</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;">Transport and storage</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">9,638</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">507</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(392)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5.3%</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=EN-US style="font-size:8.0pt;">Accommodation
  and food service activities</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">8,703</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">279</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(203)</font></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;"><font color=black face=Arial,sans-serif 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 style="font-size:8.0pt;">Information and
  communications</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">6,316</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">95</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(65)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1.5%</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;">Financial and
  insurance activities</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">6,864</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">191</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(140)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2.8%</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 style="font-size:8.0pt;">Real estate
  activities</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">19,435</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">782</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(527)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4.0%</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=EN-US style="font-size:8.0pt;">Professional,
  scientific and technical activities</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,375</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">167</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(140)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3.8%</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=EN-US style="font-size:8.0pt;">Administrative
  and support service activities</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3,415</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">118</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(134)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3.4%</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 lang=EN-US style="font-size:8.0pt;">Public
  administration and defense; compulsory social security</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">282</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">5</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(6)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1.7%</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;">Education</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">903</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">41</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(38)</font></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;"><font color=black face=Arial,sans-serif 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 lang=EN-US style="font-size:8.0pt;">Human health
  services and social work activities</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,696</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">66</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(55)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1.4%</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;">Arts, entertainment
  and recreation</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,396</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">47</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(39)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3.4%</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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other services</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 style="font-size:8.0pt;">7,671</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 style="font-size:8.0pt;">331</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 style="font-size:8.0pt;">(360)</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4.3%</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Households</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">181,989</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">7,381</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(5,847)</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">4.1%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=41% style="background:#5AC4C4;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;">LOANS AND ADVANCES</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">412,711</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">15,959</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">(12,427)</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">3.9%</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-55</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_296"></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: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:9.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7_053anual_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">December 2018
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:67.5pt;">
  <td width=44% style="border:none;border-bottom:solid black 1.0pt;height:67.5pt;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:67.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Gross carrying amount</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:67.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Non-performing loans and advances</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:67.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Accumulated impairment </font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:67.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Non-performing loans and advances as a % of the total</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=44% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Central Banks</font></b></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">3,947</font></b></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">(6)</font></b></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=44% 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 style="font-size:8.0pt;">General governments</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">28,198</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">128</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">(84)</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">0.4%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=44% 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 style="font-size:8.0pt;">Credit institutions</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">9,175</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">10</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">(12)</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">0.1%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=44% 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 style="font-size:8.0pt;">Other financial
  corporations</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">9,490</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">11</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">(22)</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">0.1%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=44% 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 style="font-size:8.0pt;">Non-financial
  corporations</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">170,182</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">8,372</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">(6,260)</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">4.9%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">Agriculture, forestry
  and fishing</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">3,685</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">122</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">(107)</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">3.3%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">Mining and quarrying</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,952</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">96</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(70)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1.9%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">Manufacturing</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">36,772</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,695</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(1,134)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4.6%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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=EN-US style="font-size:8.0pt;">Electricity,
  gas, steam and air conditioning supply</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">13,853</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">585</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(446)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4.2%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">Water supply</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,061</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">19</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(15)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1.8%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">Construction</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">11,899</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,488</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(1,007)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">12.5%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">Wholesale and retail
  trade</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">25,833</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,624</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(1,259)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6.3%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">Transport and storage</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">9,798</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">459</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(374)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4.7%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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=EN-US style="font-size:8.0pt;">Accommodation and food service activities</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7,882</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">315</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(204)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4.0%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">Information and
  communication</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5,238</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">113</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(72)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2.1%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">Financial and
  insurance activities</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6,929</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">147</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(128)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2.1%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">Real estate
  activities</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">17,272</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">834</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(624)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4.8%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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=EN-US style="font-size:8.0pt;">Professional,
  scientific and technical activities</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5,096</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">204</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(171)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4.0%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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=EN-US style="font-size:8.0pt;">Administrative
  and support service activities</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,162</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">128</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(125)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4.0%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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=EN-US style="font-size:8.0pt;">Public
  administration and defense, compulsory social security</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">319</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(7)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1.6%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">Education</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">912</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">31</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(31)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3.4%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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=EN-US style="font-size:8.0pt;">Human health
  services and social work activities</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,406</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">63</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(63)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1.4%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">Arts, entertainment
  and recreation</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,323</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">59</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(41)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4.5%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=44% 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;">Other services</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">9,791</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">386</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(382)</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3.9%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=44% 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 style="font-size:8.0pt;">Households</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">178,355</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">7,838</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">(5,833)</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">4.4%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=44% style="background:#5AC4C4;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;">LOANS AND ADVANCES</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">399,347</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">16,359</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">(12,217)</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">4.1%</font></b></font></p>
  </td>
 </tr>
</table></div>




<DIV bclFooter>

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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-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: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 title="F_I_7_054DIC_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">December 2017
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:45.0pt;">
  <td width=48% style="border:none;border-bottom:solid black 1.0pt;height:45.0pt;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=18% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Non-performing</font></b></font></p>
  </td>
 <td width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Accumulated impairment or Accumulated changes in fair value due
  to credit risk</font></b></font></p>
  </td>
 <td width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=48% 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 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">171</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(111)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">0.5%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=48% 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 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">11</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(36)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">0.3%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=48% 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 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">12</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(26)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">0.1%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=48% 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 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">10,791</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(7,538)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">6.3%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=48% 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;">Agriculture, forestry
  and fishing</font></font></p>
  </td>
 <td nowrap width=18% 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 style="font-size:8.0pt;">166</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(123)</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4.3%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=48% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Mining and quarrying</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">177</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 style="font-size:8.0pt;">(123)</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 style="font-size:8.0pt;">3.7%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=48% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Manufacturing</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,239</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 style="font-size:8.0pt;">(955)</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 style="font-size:8.0pt;">3.6%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=48% 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=EN-US 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 style="font-size:8.0pt;">213</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(289)</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1.8%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=48% 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;">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 style="font-size:8.0pt;">29</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(11)</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4.5%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=48% 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;">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 style="font-size:8.0pt;">2,993</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1,708)</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">20.1%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=48% 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;">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 style="font-size:8.0pt;">1,706</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1,230)</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">5.9%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=48% 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;">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 style="font-size:8.0pt;">441</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(353)</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4.2%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=48% 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=EN-US 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 style="font-size:8.0pt;">362</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(222)</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4.3%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=48% 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;">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 style="font-size:8.0pt;">984</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(256)</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">17.0%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=48% 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;">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 style="font-size:8.0pt;">1,171</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1,100)</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">7.9%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=48% 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=EN-US 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 style="font-size:8.0pt;">252</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(183)</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3.8%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=48% 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=EN-US 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 style="font-size:8.0pt;">188</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(130)</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">6.3%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=48% 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=EN-US 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 style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(6)</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1.9%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=48% 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;">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 style="font-size:8.0pt;">31</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(25)</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3.4%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=48% 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=EN-US 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 style="font-size:8.0pt;">75</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(68)</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1.7%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=48% 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;">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 style="font-size:8.0pt;">69</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(38)</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4.6%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=48% 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 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 style="font-size:8.0pt;">690</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(716)</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4.3%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=48% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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:12.75pt;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;">8,417</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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;">(5,073)</font></b></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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;">4.7%</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=48% style="background:#5AC4C4;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;">LOANS AND ADVANCES</font></b></font></p>
  </td>
 <td nowrap width=18% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">19,401</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">(12,784)</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 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: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-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_5a37ef2b1f43477f99e593059"></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-57</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_298"></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;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%;">The changes during the years 2019, 2018 and 2017 of impaired
financial assets and contingent risks are as follow:</font></font><a name="XBRL_TS_5a37ef2b1f43477f99e593059_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.2_061_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Changes in
  impaired financial assets and contingent risks (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=#0066CC face=Arial,sans-serif style="border:none;"><b><font color=#0066CC face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=15% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2019</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2018</font></b></font></p>
  </td>
 <td width=15% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="background:#5AC4C4;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:7.0pt;">Balance at the
  beginning </font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">17,134</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">20,590</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">23,877</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:7.0pt;">Additions</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 style="font-size:7.0pt;">9,857</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 style="font-size:7.0pt;">9,792</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 style="font-size:7.0pt;">10,856</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 style="font-size:7.0pt;">Decreases (*)</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 style="font-size:7.0pt;">(5,874)</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 style="font-size:7.0pt;">(6,909)</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 style="font-size:7.0pt;">(7,771)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Net additions</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">3,983</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">2,883</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">3,085</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:7.0pt;">Amounts written-off</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 style="font-size:7.0pt;">(3,803)</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 style="font-size:7.0pt;">(5,076)</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 style="font-size:7.0pt;">(5,758)</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 style="font-size:7.0pt;">Exchange differences
  and other</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 style="font-size:7.0pt;">(544)</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 style="font-size:7.0pt;">(1,264)</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 style="font-size:7.0pt;">(615)</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=56% style="background:#5AC4C4;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 style="font-size:7.0pt;">Balance at the end </font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">16,770</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">17,134</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">20,590</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:49.65pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_TS_70f9a08b85ae4bbc8598b0ae2"></a><a name="XBRL_FS_7c31b45805784c52a0584772f"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*)&#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 Note 21).</font></font><a name="XBRL_FS_7c31b45805784c52a0584772f_bclEnd"></a></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:8.0pt;line-height:115%;">The changes
during the years 2019, 2018 and 2017 in financial assets derecognized from the
accompanying consolidated balance sheet as their recovery is considered
unlikely (&quot;write-offs&quot;), is shown below:</font></font><a name="XBRL_TS_70f9a08b85ae4bbc8598b0ae2_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.3_030_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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=44% 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 face=Arial,sans-serif style="border:none;"><b><font color=#0066CC face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=44% style="background:#5AC4C4;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;">Balance at the
  beginning </font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">32,343</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">30,139</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">29,347</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=44% 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=EN-US style="font-size:8.0pt;">Acquisition
  of&nbsp;subsidiaries&nbsp;in the year</font></font></p>
  </td>
 <td width=14% 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;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">Increase</font></font></p>
  </td>
 <td width=14% 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 style="font-size:8.0pt;">&nbsp;</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,712</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 style="font-size:8.0pt;">6,164</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 style="font-size:8.0pt;">5,986</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 style="font-size:8.0pt;">Decrease:</font></font></p>
  </td>
 <td width=14% 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 style="font-size:8.0pt;">&nbsp;</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(11,039)</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 style="font-size:8.0pt;">(4,210)</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 style="font-size:8.0pt;">(4,442)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=44% 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;">Re-financing or
  restructuring</font></font></p>
  </td>
 <td nowrap width=14% 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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(2)</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(10)</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(9)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=44% 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 recovery</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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;">47</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(919)</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(589)</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(558)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=44% 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;">Foreclosed assets</font></font></p>
  </td>
 <td nowrap width=14% 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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(617)</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(625)</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(149)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=44% 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;">Sales&#160; (*)</font></font></p>
  </td>
 <td nowrap width=14% 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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(8,325)</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(1,805)</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(2,284)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=44% 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;">Debt forgiveness</font></font></p>
  </td>
 <td nowrap width=14% 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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(493)</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(889)</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(1,121)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=44% 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=EN-US style="font-size:8.0pt;">Time-barred
  debt and other causes </font></font></p>
  </td>
 <td nowrap width=14% 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;"><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(682)</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(292)</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(321)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=44% 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;">Net exchange differences</font></font></p>
  </td>
 <td width=14% 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=#666666 face=Arial,sans-serif style="border:none;"><b><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">230</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">250</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(752)</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=44% style="background:#5AC4C4;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 style="font-size:8.0pt;">Balance at the end</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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 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=14% style="background:#5AC4C4;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 style="font-size:8.0pt;">26,245</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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 style="font-size:8.0pt;">32,343</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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 style="font-size:8.0pt;">30,139</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;"><a name="XBRL_TS_eae1d805471246af920aefbaa"></a><a name="XBRL_FS_c2c60f1cab8b48d0a822d6253"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*) &#160;&#160;Includes principal and
interest.</font></font><a name="XBRL_FS_c2c60f1cab8b48d0a822d6253_bclEnd"></a></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:8.0pt;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 a time-barred financial asset, the
financial asset is condoned, or other reasons.</font></font><a name="XBRL_TS_eae1d805471246af920aefbaa_bclEnd"></a></p>

<p style="border:none;margin:0cm;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_9cbd07f66c304efa953de2e72"></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:9.0pt;line-height:115%;">7.1.6&#160;&#160; Loss allowances</font></b></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:8.0pt;line-height:115%;">Movements in
gross accounting balances and accumulated allowances for loan losses during
2019 are recorded on the accompanying consolidated balance sheet as of December
31, 2019, in order to cover the estimated loss allowances in loans and advances
and debt securities measured at amortized cost. As for the years ended December
31, 2018 and 2017, the changes in the accumulated allowances are presented):</font></font><a name="XBRL_TS_9cbd07f66c304efa953de2e72_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_GRM_RIESGO_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Changes in
  gross accounting balances of loans and advances at amortized cost. </font></font><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:7.0pt;">December 2019 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:29.25pt;">
  <td nowrap valign=bottom 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=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 width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Stage 1</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Stage 2</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Stage 3</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=35% style="background:#5AC4C4;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;">Opening balance</font></b></font></p>
  </td>
 <td width=17% style="background:#5AC4C4;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 style="font-size:7.0pt;">352,282</font></b></font></p>
  </td>
 <td width=16% style="background:#5AC4C4;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 style="font-size:7.0pt;">30,707</font></b></font></p>
  </td>
 <td width=16% style="background:#5AC4C4;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 style="font-size:7.0pt;">16,359</font></b></font></p>
  </td>
 <td width=16% style="background:#5AC4C4;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 style="font-size:7.0pt;">399,347</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=35% 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;">Transfers of
  financial assets:</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:7.0pt;">(9,021)</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">6,279</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">2,741</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=35% 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=EN-US style="font-size:7.0pt;">Transfers from
  stage 1 to Stage 2</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(13,546)</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">13,546</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=35% 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=EN-US style="font-size:7.0pt;">Transfers from
  stage 2 to Stage 1</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">5,656</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(5,656)</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=35% 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 style="font-size:7.0pt;">Transfers to Stage 3</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1,571)</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(2,698)</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,269</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=35% 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 style="font-size:7.0pt;">Transfers from Stage
  3</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">440</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,087</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1,527)</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=35% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Net annual
  origination of financial assets</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">20,296</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(2,739)</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">246</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">17,804</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=35% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">Becoming&nbsp;</font></font><font color=#181818 face=Arial,sans-serif style="border:none;"><font color=#181818 face=Arial,sans-serif style="font-size:7.0pt;">write-</font></font><font color=#0C0C0C face=Arial,sans-serif style="border:none;"><font color=#0C0C0C face=Arial,sans-serif style="font-size:7.0pt;">offs</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(152)</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(349)</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(3,407)</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(3,908)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=35% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">Changes in model /
  methodology</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=35% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">Foreign exchange</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,611</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">35</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">16</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,662</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=35% 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=EN-US style="font-size:7.0pt;">Modifications
  that do not result in derecognition</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:7.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">(27)</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">15</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">(13)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=35% 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;">Other</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:7.0pt;">(1,782)</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">(388)</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">(11)</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">(2,180)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=35% style="background:#5AC4C4;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;">Closing balance</font></b></font></p>
  </td>
 <td width=17% style="background:#5AC4C4;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 style="font-size:7.0pt;">363,234</font></b></font></p>
  </td>
 <td width=16% style="background:#5AC4C4;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 style="font-size:7.0pt;">33,518</font></b></font></p>
  </td>
 <td width=16% style="background:#5AC4C4;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 style="font-size:7.0pt;">15,959</font></b></font></p>
  </td>
 <td width=16% style="background:#5AC4C4;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 style="font-size:7.0pt;">412,711</font></b></font></p>
  </td>
 </tr>
</table></div>




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<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_GRM_PROVISION_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Changes in
  allowances of loans and advances at amortized cost. </font></font><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:7.0pt;">December 2019 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td nowrap valign=bottom width=32% 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=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 width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Stage 1</font></b></font></p>
  </td>
 <td width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Stage 2</font></b></font></p>
  </td>
 <td width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Stage 3</font></b></font></p>
  </td>
 <td width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=32% style="background:#5AC4C4;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;">Opening balance</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;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 style="font-size:6.0pt;">(2,082)</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;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 style="font-size:6.0pt;">(2,375)</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;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 style="font-size:6.0pt;">(7,761)</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;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 style="font-size:6.0pt;">(12,217)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=32% 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;">Transfers of
  financial assets:</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:7.0pt;">176</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:7.0pt;">(227)</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:7.0pt;">(1,574)</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:7.0pt;">(1,626)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=32% 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=EN-US style="font-size:7.0pt;">Transfers from
  stage 1 to Stage 2</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">126</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(649)</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(523)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=32% 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=EN-US style="font-size:7.0pt;">Transfers from
  stage 2 to Stage 1</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(38)</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">273</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">235</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=32% 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 style="font-size:7.0pt;">Transfers to Stage 3</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">89</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">234</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1,810)</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1,487)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=32% 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 style="font-size:7.0pt;">Transfers from Stage
  3</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1)</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(86)</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">236</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">149</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=32% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Net annual
  origination of allowances</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(542)</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(116)</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1,711)</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(2,370)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=32% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">Becoming&nbsp;</font></font><font color=#181818 face=Arial,sans-serif style="border:none;"><font color=#181818 face=Arial,sans-serif style="font-size:7.0pt;">write-</font></font><font color=#0C0C0C face=Arial,sans-serif style="border:none;"><font color=#0C0C0C face=Arial,sans-serif style="font-size:7.0pt;">offs</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">130</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">337</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,789</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3,256</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=32% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">Changes in model /
  methodology</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=32% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">Foreign exchange</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(30)</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(18)</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">69</font></font></p>
  </td>
 <td nowrap width=17% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">20</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=32% 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=EN-US style="font-size:7.0pt;">Modifications
  that do not result in derecognition</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:7.0pt;">(15)</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:7.0pt;">(149)</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:7.0pt;">(89)</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:7.0pt;">(254)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=32% 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;">Other</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:7.0pt;">215</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:7.0pt;">366</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:7.0pt;">183</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:7.0pt;">764</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=32% style="background:#5AC4C4;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;">Closing balance</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;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 style="font-size:6.0pt;">(2,149)</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;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 style="font-size:6.0pt;">(2,183)</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;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 style="font-size:6.0pt;">(8,094)</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;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 style="font-size:6.0pt;">(12,427)</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.3_084AC_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:9.75pt;">
  <td colspan=6 nowrap width=100% style="background:#E9E9E9;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=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Financial
  assets at amortized cost. </font></font><font color=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif style="font-size:6.0pt;">December 2018 (Millions of
  Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=40% style="border:none;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 style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=36% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Not credit-impaired</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Credit-impaired</font></b></font></p>
  </td>
 <td rowspan=2 width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:29.25pt;">
  <td width=40% style="height:29.25pt;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 style="font-size:6.0pt;">&nbsp;</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Stage 1</font></b></font></p>
  </td>
 <td colspan=2 width=24% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Stage 2</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">(Stage 3)</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=40% 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 face=Arial,sans-serif style="border:none;"><b><font color=#0066CC face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Loss allowances</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Loss allowances (collectively assessed)</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Loss allowances (individually assessed)</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Loss allowances</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Loss allowances</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=40% style="background:#5AC4C4;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 style="font-size:6.0pt;">Opening balance</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:6.0pt;">(2,237)</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:6.0pt;">(1,827)</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:6.0pt;">(525)</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:6.0pt;">(9,371)</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:6.0pt;">(13,960)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=40% 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;">Transfers of
  financial assets:</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=40% 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=EN-US style="font-size:6.0pt;">Transfers from</font><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">
  Stage </font></i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">1 to </font><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Stage&nbsp;</font></i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;"> 2 (not credit-impaired)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">208</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(930)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(218)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(940)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=40% 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=EN-US style="font-size:6.0pt;">Transfers from </font><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Stage
  </font></i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">2 (not credit - impaired) to </font><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Stage&nbsp;</font></i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;"> 1</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(125)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">619</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">50</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">544</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=40% 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 to </font><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Stage&nbsp;</font></i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">
  3</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">55</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">282</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">564</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(2,127)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1,226)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=40% 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=EN-US style="font-size:6.0pt;">Transfers from </font><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Stage&nbsp;</font></i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">
  3 to </font><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Stage&nbsp;</font></i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;"> 1 or 2</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(7)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(126)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(68)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">333</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">132</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=40% 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=EN-US style="font-size:6.0pt;">Changes without
  transfers between </font></font><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Stages</font></i></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">358</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(53)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(260)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(3,775)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(3,730)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=40% 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;">New financial assets
  originated</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1,072)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(375)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(244)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1,692)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=40% 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;">Purchased</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=40% 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;">Disposals</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">110</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">115</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=40% 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;">Repayments</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">641</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">432</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">118</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,432</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,623</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=40% 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;">Write-offs</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">13</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">14</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,433</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,461</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=40% 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;">Changes in model/
  methodology</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=40% 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;">Foreign exchange</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(84)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">72</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(93)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">343</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">239</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=40% 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=EN-US style="font-size:6.0pt;">Modifications
  that result in derecognition</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">5</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">10</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">25</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">98</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">138</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=40% 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=EN-US style="font-size:6.0pt;">Modifications
  that do not result in derecognition</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(8)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(362)</font></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(366)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=40% 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</font></font></p>
  </td>
 <td nowrap width=12% 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;">135</font></font></p>
  </td>
 <td nowrap width=12% 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;">133</font></font></p>
  </td>
 <td nowrap width=12% 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;">20</font></font></p>
  </td>
 <td nowrap width=12% 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;">1,111</font></font></p>
  </td>
 <td nowrap width=12% 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;">1,399</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=40% style="background:#5AC4C4;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 style="font-size:6.0pt;">Closing balance</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:6.0pt;">(2,106)</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:6.0pt;">(1,753)</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:6.0pt;">(628)</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:6.0pt;">(7,777)</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:6.0pt;">(12,264)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td valign=bottom 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Of which:
  Loans and advances</font></i></font></p>
  </td>
 <td nowrap width=12% 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=12% 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=12% 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=12% 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=12% 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">(12,217)</font></i></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td valign=bottom width=40% 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;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">Of which: Debt
  certificates</font></i></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;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 style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;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 style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;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 style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;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 style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=12% style="height:8.25pt;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 style="font-size:6.0pt;">(46)</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:8.0pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;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-59</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_300"></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 title="F_I_7_081dic_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:9.75pt;">
  <td colspan=9 nowrap valign=bottom width=100% style="background:#E9E9E9;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=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Financial assets at amortized cost. </font></font><font color=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif style="font-size:6.0pt;">December 2017 (Millions of Euros) (*)</font></font></p>
  </td>
 </tr>
<tr style="height:41.25pt;">
  <td width=25% 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=#0066CC face=Arial,sans-serif style="border:none;"><b><font color=#0066CC face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Opening balance</font></b></font></p>
  </td>
 <td width=10% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Increases due to amounts set aside&#160; for estimated loan losses
  during the year</font></b></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Decreases due to amounts&#160; reversed for estimated loan losses
  during the year</font></b></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Decreases due to amounts taken against allowances</font></b></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Transfers between allowances</font></b></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Other adjustments</font></b></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Closing balance</font></b></font></p>
  </td>
 <td width=10% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Recoveries &#160;recorded directly to the statement of profit or loss</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=25% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">(7,484)</font></b></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">2,878</font></b></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">4,503</font></b></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">1,810</font></b></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">526</font></b></font></p>
  </td>
 <td nowrap width=9% 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 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: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 style="font-size:6.0pt;">558</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:6.0pt;">Debt securities</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 style="font-size:6.0pt;">(144)</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 style="font-size:6.0pt;">(26)</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 style="font-size:6.0pt;">6</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 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 style="font-size:6.0pt;">123</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 style="font-size:6.0pt;">13</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 style="font-size:6.0pt;">(28)</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=25% 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 style="font-size:6.0pt;">Central banks</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">-</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">-</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=25% 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 style="font-size:6.0pt;">General governments</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">-</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">-</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:6.6pt;">
  <td width=25% style="height:6.6pt;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:6.0pt;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=10% style="height:6.6pt;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;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">(15)</font></font></p>
  </td>
 <td nowrap width=10% style="height:6.6pt;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;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">(5)</font></font></p>
  </td>
 <td nowrap width=9% style="height:6.6pt;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;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td nowrap width=9% style="height:6.6pt;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;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:6.6pt;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;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">16</font></font></p>
  </td>
 <td nowrap width=9% style="height:6.6pt;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;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:6.6pt;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;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:6.6pt;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;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=25% 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 style="font-size:6.0pt;">Other financial
  corporations</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">(26)</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">(4)</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">(16)</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=25% 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 style="font-size:6.0pt;">Non-financial
  corporations</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">(103)</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">(17)</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">(12)</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=25% 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;">Loans and advances</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 style="font-size:6.0pt;">(10,793)</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 style="font-size:6.0pt;">(7,458)</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,872</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,503</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,687</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:6.0pt;">(8,675)</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 style="font-size:6.0pt;">558</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=25% 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 style="font-size:6.0pt;">Central banks</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">-</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">-</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=25% 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 style="font-size:6.0pt;">General governments</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">(39)</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">(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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">37</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">14</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">15</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">(42)</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=25% 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 style="font-size:6.0pt;">Credit 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">(7)</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">(6)</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=25% 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 style="font-size:6.0pt;">Other financial
  corporations</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">(25)</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">(287)</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">38</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">227</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">38</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">(7)</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=25% 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 style="font-size:6.0pt;">Non-financial
  corporations</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">(7,402)</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">(3,627)</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">1,993</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">3,029</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">(228)</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">636</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">(5,599)</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">345</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=25% 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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 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;"><font color=gray face=Arial,sans-serif 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:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">(3,472)</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">837</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">1,422</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">1,687</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">(177)</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">212</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=25% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">(1,783)</font></b></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">2,159</font></b></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">1,537</font></b></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">(1,328)</font></b></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">557</font></b></font></p>
  </td>
 <td nowrap width=9% 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 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: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 style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:6.0pt;">Debt securities</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 style="font-size:6.0pt;">(46)</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 style="font-size:6.0pt;">(8)</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 style="font-size:6.0pt;">30</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 style="font-size:6.0pt;">1</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 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 style="font-size:6.0pt;">3</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 style="font-size:6.0pt;">(21)</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=25% 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;">Loans and advances</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 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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1,776)</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 style="font-size:6.0pt;">2,128</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 style="font-size:6.0pt;">1,536</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 style="font-size:6.0pt;">(1,328)</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 style="font-size:6.0pt;">554</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 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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=25% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">(16,206)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">(9,267)</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">5,037</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">6,038</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">482</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">1,083</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">(12,833)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">558</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_FS_8e829b46c235444e95ef1dab0"></a><a name="XBRL_FS_a58d12d85e8a478ba3e3f0877"></a><a name="XBRL_FS_62f41d015f6e4622ba9484339"></a><a name="XBRL_FS_8b93c914ad504537a7d2b83ea"></a><a name="XBRL_FS_0083d3c9022b4a2d992b1592b"></a><a name="XBRL_FS_e62a262b522b4778b405e3477"></a><a name="XBRL_FS_ba21ad12748e40579ff64f964"></a><a name="XBRL_FS_3a55c49286284e2f8360a8f06"></a><a name="XBRL_FS_b58a995b08ef4ee8b38165e0b"></a><a name="XBRL_FS_93304f8ce5ad4615a8fc8d459"></a><a name="XBRL_FS_978d34a86dc7408a86bcfe1c0"></a><a name="XBRL_FS_a52b200ccec34386b5b8844c2"></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%;">(*) Figures
originally reported in the year 2017 in accordance to the applicable regulation.</font></font><a name="XBRL_FS_0083d3c9022b4a2d992b1592b_bclEnd"></a><a name="XBRL_FS_3a55c49286284e2f8360a8f06_bclEnd"></a><a name="XBRL_FS_62f41d015f6e4622ba9484339_bclEnd"></a><a name="XBRL_FS_8b93c914ad504537a7d2b83ea_bclEnd"></a><a name="XBRL_FS_8e829b46c235444e95ef1dab0_bclEnd"></a><a name="XBRL_FS_93304f8ce5ad4615a8fc8d459_bclEnd"></a><a name="XBRL_FS_978d34a86dc7408a86bcfe1c0_bclEnd"></a><a name="XBRL_FS_a52b200ccec34386b5b8844c2_bclEnd"></a><a name="XBRL_FS_a58d12d85e8a478ba3e3f0877_bclEnd"></a><a name="XBRL_FS_b58a995b08ef4ee8b38165e0b_bclEnd"></a><a name="XBRL_FS_ba21ad12748e40579ff64f964_bclEnd"></a><a name="XBRL_FS_e62a262b522b4778b405e3477_bclEnd"></a></p>

<p style="border:none;margin:0cm;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_cdc8056fd5844b43bbd8c5e26"></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:9.0pt;line-height:115%;">7.1.7&#160;&#160; Refinancing and restructuring transactions </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:avoid;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:8.0pt;">Group policies
and principles with respect to refinancing and restructuring 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:8.0pt;line-height:115%;">Refinancing and
restructuring transactions (see definition in the Glossary) are carried out
with customers who have requested such a transaction 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:8.0pt;line-height:115%;">The basic aim of a
refinancing and restructuring transaction 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;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%;">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;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">With the aim of increasing the solvency of the transaction, 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;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Refinancing and restructuring transactions do not in general
increase the amount of the customer&#8217;s loan, except for the expense inherent to
the transaction itself. </font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The capacity to refinance and restructure a 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;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:8.0pt;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>


<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-60</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_301"></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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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 a 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 the 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;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Analysis of the viability of transactions 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
transaction 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;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Refinancing and restructuring of transactions is only allowed on
those loans in which the BBVA Group originally entered into.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Customers subject to refinancing and restructuring transactions
are excluded from marketing campaigns of any kind.</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:8.0pt;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;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:8.0pt;line-height:115%;">In accordance with
the Group&#8217;s policy, the conclusion of a loan refinancing and restructuring
transaction does not mean the loan is reclassified from &quot;impaired&quot; or
&quot;significant increase in credit risk&quot; to normal 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;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%;">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;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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;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%;">The assets classified as &quot;Impaired assets&quot; should comply
with the following conditions in order to be reclassified to &quot;Significant
increase in credit risk&quot;:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The customer has to have paid a significant part of the pending
exposure.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">At least one year must have elapsed since its classification as
&quot;Impaired asset&quot;.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The customer does not have past due payments.</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:8.0pt;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;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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; and</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:8.0pt;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:8.0pt;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>

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<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;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:9.0pt;line-height:115%;">7.1.8&#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:avoid;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:8.0pt;">Policies for
preventing excessive risk concentration</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:8.0pt;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:8.0pt;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:8.0pt;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;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%;">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;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:avoid;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:8.0pt;">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:8.0pt;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:avoid;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:8.0pt;">Sovereign 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:avoid;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:8.0pt;">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:8.0pt;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:8.0pt;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:8.0pt;line-height:115%;">For additional
information on sovereign risk in Europe see 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:avoid;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:8.0pt;">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:8.0pt;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>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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:avoid;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:8.0pt;">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:8.0pt;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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-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:avoid;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:8.0pt;">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:8.0pt;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:8.0pt;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 cyclical</font></font><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-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:avoid;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:8.0pt;">Specific
policies for analysis and granting 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:8.0pt;line-height:115%;">In the analysis of
new transactions, the assessment of the commercial operation in terms of the
economic and financial viability of the project has been linear.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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 transactions. 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 assures 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:8.0pt;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 transactions.
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:8.0pt;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:avoid;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:8.0pt;">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:8.0pt;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 developments, 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:8.0pt;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:8.0pt;line-height:115%;">BBVA has a
classification of debtors according to the provisions in each country, in
general, categorizing the degree of problem of each 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:8.0pt;line-height:115%;">The volume of
restructurings during 2019 and 2018 has not been significant, being close to
zero.</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 color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">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:8.0pt;line-height:115%;">Regarding the financing of real
estate, a new regulation has been updated in 2018 in which recommendations for
the development 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:8.0pt;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:8.0pt;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:8.0pt;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:8.0pt;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_cdc8056fd5844b43bbd8c5e26_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-63</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;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;line-height:115%;">7.2&#160;&#160; Market risk</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;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:9.0pt;line-height:115%;">7.2.1&#160;&#160; Market risk
in trading portfolios </font></b></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:8.0pt;line-height:115%;">Market risk originates in the possibility that there may be losses
in the value of positions held due to 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-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:8.0pt;line-height:115%;">The metrics
developed to assess market risk in the 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:8.0pt;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:8.0pt;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 various risks, such as
credit spread risk, basis risk, as well as volatility and correlation 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:8.0pt;line-height:115%;">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 BBVA, S.A. and BBVA Mexico
trading book, which jointly accounted for around 72%, 76% and 70% of the
Group&#8217;s trading-book market risk as of December 31, 2019, 2018 and 2017. For
the rest of the geographical areas where the Group operates (applicable mainly
to the Group&#180;s South America subsidiaries, Garanti BBVA and BBVA USA), bank
capital for the risk positions in the trading book is calculated using the
Standardized Approach defined by the Basel Committee on Banking Supervision
(which is referred to herein as the &quot;standard model&#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;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-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;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%;">The main headings
in the consolidated balance sheet of the Group which are exposed to market
risk, are positions whose main metric to measure the market risk is the VaR.
The table below shows, by accounting line of the consolidated balance sheet as
of December 31, 2019, 2018 and 2017, the traded financial products and assets
of trading for those geographical areas that use Internal Model (BBVA, S.A. and
BBVA Mexico):</font></font><a name="XBRL_TS_90dd68c228bb45f28099c24d0_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.2_001dic_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Headings of the
  balance sheet under market risk (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:20.25pt;">
  <td nowrap valign=bottom width=34% style="border:none;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;"><b><font color=black face=Arial,sans-serif lang=EN-US 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">December 2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">December 2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td nowrap 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=#0066CC face=Arial,sans-serif style="border:none;"><b><font color=#0066CC 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Main market risk metrics - </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Main market risk metrics - </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Main market risk metrics - </font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Others (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">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=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif lang=EN-US 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 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=EN-US 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 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=EN-US 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 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=EN-US 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 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=EN-US 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 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=EN-US style="font-size:6.0pt;">&nbsp;</font></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=EN-US style="font-size:6.0pt;">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 style="font-size:6.0pt;">96,461</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 style="font-size:6.0pt;">1,671</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 style="font-size:6.0pt;">114,156</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 style="font-size:6.0pt;">124</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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">441</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 lang=EN-US style="font-size:6.0pt;">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 style="font-size:6.0pt;">7,089</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 style="font-size:6.0pt;">24,691</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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">24,083</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=34% 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;">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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">1,783</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">2,046</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">2,404</font></i></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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Derivatives - Hedge
  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 style="font-size:6.0pt;">628</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">840</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">1,397</font></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></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=EN-US style="font-size:6.0pt;">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 style="font-size:6.0pt;">74,967</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 style="font-size:6.0pt;">12,677</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 style="font-size:6.0pt;">67,859</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 style="font-size:6.0pt;">11,011</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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">2,526</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:6.0pt;">Derivatives - 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 style="font-size:6.0pt;">671</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,183</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">638</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:21.25pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_TS_149bdcaeb10b423c9ff90ad87"></a><a name="XBRL_FS_506fa9432dee4277978294e61"></a><a name="XBRL_FS_ab78e0dbd8cf40af9914de632"></a><a name="XBRL_FS_6bde4213b0934f99933b7bf91"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*)&#160;&#160; Includes mainly assets
and liabilities managed by ALCO.</font></font><a name="XBRL_FS_506fa9432dee4277978294e61_bclEnd"></a><a name="XBRL_FS_6bde4213b0934f99933b7bf91_bclEnd"></a><a name="XBRL_FS_ab78e0dbd8cf40af9914de632_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:.3pt;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:8.0pt;line-height:115%;">Although the table above provides information on certain 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>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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:8.0pt;line-height:115%;">The model used
estimates VaR in accordance with the historical simulation 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.</font></font></p>

<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:8.0pt;line-height:115%;">VaR figures are
estimated with the following methodologies:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><a name="_Toc411000601"></a><a name="_Toc411000321"></a><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><a name="_Toc411000602"></a><a name="_Toc411000322"></a><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">VaR with
smoothing, which gives a greater weight to more recent market information. This
metric supplements the previous one.</font></font></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:8.0pt;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 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:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><a name="_Toc411000603"></a><a name="_Toc411000323"></a><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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 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-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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 IRC charge is exclusively applied in entities
in respect of which the internal market risk model is used (i.e., BBVA, S.A.
and BBVA Mexico). 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-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Specific
Risk - Securitization and correlation portfolios. 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>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="_Toc411000606"></a><a name="_Toc411000326"></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%;">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 supporting 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>


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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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_306"></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:avoid;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:8.0pt;">Market risk in 2019</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;"><a name="_Toc411000608"></a><a name="_Toc411000328"></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%;">The Group&#8217;s market risk related to its trading portfolio remained
at low levels compared to other risks managed by BBVA, particularly credit
risk. This is due to the nature of the business. In 2019 the average VaR was &#8364;19
million, below the figure of 2018, with a high on September 13, 2019 of &#8364;25
million. The evolution in the BBVA Group&#8217;s market risk during 2019, measured as
VaR without smoothing (see Glossary) with a 99% confidence level and a 1-day
horizon (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:8.0pt;line-height:115%;">:</font></font><a name="XBRL_TS_149bdcaeb10b423c9ff90ad87_bclEnd"></a></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=413 src="d20f2019x305x0.gif" width=605></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_815a2d6b6d3b4b9f810757528"></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%;">By type of
market risk assumed by the Group's trading portfolio, the main risk factor for
the Group continued to be that linked to interest rates, with a weight of 58%
of the total at December 31, 2019 (this figure includes the spread risk). The
relative weight of this risk has increased compared with the close of 2018 (55%).
Exchange-rate risk accounted for 13% of the total risk, decreasing its weight with
respect to December 2018 (14%), while equity, volatility and correlation risk
has decreased, with a weight of 29% at the close of 2019 (vs. 31% at the close
of 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-66</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_307"></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:8.0pt;line-height:115%;">As of December 31, 2019, 2018
and 2017 the VaR was &#8364;20 million, &#8364;17 million and &#8364;22 million, respectively.
The total VaR figures for 2019, 2018 and 2017 can be broken down as follows:</font></font><a name="XBRL_TS_815a2d6b6d3b4b9f810757528_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.2_002dic_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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=20% 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 face=Arial,sans-serif style="border:none;"><b><font color=#0066CC face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Interest/Spread risk</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Currency risk</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Stock-market risk</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Vega/Correlation risk</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Diversification effect(*)</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=20% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 2019</font></b></font></p>
  </td>
 <td nowrap 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=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 nowrap 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=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 nowrap width=13% 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=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 nowrap width=13% 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=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 nowrap width=13% 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=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 nowrap width=13% 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=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>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=20% 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=EN-US style="font-size:7.0pt;">VaR average in
  the year</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">21</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">6</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 style="font-size:7.0pt;">4</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 style="font-size:7.0pt;">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 style="font-size:7.0pt;">(20)</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 style="font-size:7.0pt;">19</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=20% 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=EN-US style="font-size:7.0pt;">VaR max in the
  year</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">28</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">6</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 style="font-size:7.0pt;">3</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 style="font-size:7.0pt;">9</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 style="font-size:7.0pt;">(21)</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 style="font-size:7.0pt;">25</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=20% 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=EN-US style="font-size:7.0pt;">VaR min in the
  year</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">13</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">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 style="font-size:7.0pt;">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 style="font-size:7.0pt;">9</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 style="font-size:7.0pt;">(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 style="font-size:7.0pt;">14</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=20% style="height:12.75pt;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 style="font-size:7.0pt;">End of period VaR</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">24</font></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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">8</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">(22)</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">20</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td nowrap valign=bottom width=20% 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 style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 2018</font></b></font></p>
  </td>
 <td nowrap width=14% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top: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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top: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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=13% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top: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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=13% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top: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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=13% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top: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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=13% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top: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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=20% 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=EN-US style="font-size:7.0pt;">VaR average in
  the year</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">20</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">6</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 style="font-size:7.0pt;">4</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 style="font-size:7.0pt;">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 style="font-size:7.0pt;">(20)</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 style="font-size:7.0pt;">21</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=20% 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=EN-US style="font-size:7.0pt;">VaR max in the
  year</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">23</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">7</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 style="font-size:7.0pt;">6</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 style="font-size:7.0pt;">11</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 style="font-size:7.0pt;">(21)</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 style="font-size:7.0pt;">26</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=20% 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=EN-US style="font-size:7.0pt;">VaR min in the
  year</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">17</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">6</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 style="font-size:7.0pt;">4</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 style="font-size:7.0pt;">7</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 style="font-size:7.0pt;">(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 style="font-size:7.0pt;">16</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=20% style="height:12.75pt;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 style="font-size:7.0pt;">End of period VaR</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">19</font></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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">3</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">7</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">(17)</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">17</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td nowrap valign=bottom width=20% 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 style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 2017</font></b></font></p>
  </td>
 <td nowrap width=14% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top: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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top: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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=13% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top: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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=13% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top: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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=13% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top: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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=13% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top: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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=20% 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=EN-US style="font-size:7.0pt;">VaR average in
  the year</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">25</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">10</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 style="font-size:7.0pt;">3</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 style="font-size:7.0pt;">13</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 style="font-size:7.0pt;">(23)</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 style="font-size:7.0pt;">27</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=20% 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=EN-US style="font-size:7.0pt;">VaR max in the
  year</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">27</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">11</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 style="font-size:7.0pt;">2</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 style="font-size:7.0pt;">12</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 style="font-size:7.0pt;">(19)</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 style="font-size:7.0pt;">34</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=20% 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=EN-US style="font-size:7.0pt;">VaR min in the
  year</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">23</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">7</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 style="font-size:7.0pt;">4</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 style="font-size:7.0pt;">14</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 style="font-size:7.0pt;">(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 style="font-size:7.0pt;">22</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=20% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">End of period VaR</font></b></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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;"><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">23</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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;"><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">7</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">14</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">(26)</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">22</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:21.25pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_TS_3ea2c480757f4a91a40de89ad"></a><a name="XBRL_FS_0a836911f47041d3b90d35841"></a><a name="XBRL_FS_e4f1922f369c41ca9898a99c4"></a><a name="XBRL_FS_3003fd3b5ff6438284f691018"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*)&#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><a name="XBRL_FS_0a836911f47041d3b90d35841_bclEnd"></a><a name="XBRL_FS_3003fd3b5ff6438284f691018_bclEnd"></a><a name="XBRL_FS_e4f1922f369c41ca9898a99c4_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;"><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Validation of the internal market risk 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:8.0pt;line-height:115%;">The internal
market risk model is validated on a regular basis by backtesting in both, BBVA,
S.A. and Global Markets Mexico (BBVA Mexico). 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 99% 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 BBVA Mexico
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;page-break-after:avoid;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;">Two types of backtesting have been carried out in 2019, 2018 and
2017:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:8.0pt;line-height:115%;">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-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">For the period
between the year ended December 31, 2018 and the year ended December 31, 2019,
the backtesting of the internal VaR calculation model was carried out,
comparing the daily results obtained to the risk level estimated 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 (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-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:avoid;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:8.0pt;">Stress testing</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:8.0pt;line-height:115%;">A number of stress tests are carried out on the 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:8.0pt;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-67</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_308"></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:avoid;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:8.0pt;">Historical scenarios</font></font></p>

<p style="border:none;margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;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:8.0pt;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:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:avoid;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:8.0pt;">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:8.0pt;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 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 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-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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-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:8.0pt;line-height:115%;">The impact of the stress test under multivariable simulation of
the risk factors of the portfolio based on the expected shortfall (expected
shortfall calculated at a 95% confidence level, 20 days) as of December 31,
2019 is as follows:</font></font><a name="XBRL_TS_3ea2c480757f4a91a40de89ad_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.2_003_F_XBRL" 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 style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Impact of the
  stress test&#160; (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td width=18% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Europe</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Mexico</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Peru</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Venezuela</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Argentina</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Colombia</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Turkey</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">The United States</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap width=18% 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 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 style="font-size:8.0pt;">(112)</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 style="font-size:8.0pt;">(68)</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 style="font-size:8.0pt;">(23)</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 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 style="font-size:8.0pt;">(4)</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 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 style="font-size:8.0pt;">(9)</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 style="font-size:8.0pt;">(3)</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;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_55ae1942214e4fc8915d60aee"></a><a name="_Toc505356846"></a><a name="_Toc474142231"></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:9.0pt;line-height:115%;">7.2.2&#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 lang=EN-US style="font-size:9.0pt;line-height:115%;">offset</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:8.0pt;line-height:115%;">Financial assets and liabilities
may be netted in certain cases. In particular, they are presented for a net
amount on the consolidated balance sheet only when the Group's entities satisfy
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:8.0pt;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 the net amount. 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:8.0pt;line-height:115%;">In the current market context,
derivatives are contracted under different framework contracts the most
widespread having been 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 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:8.0pt;line-height:115%;">Moreover, many of the transactions
involving assets purchased or sold under a repurchase agreement are transacted
through clearing houses that articulate mechanisms to reduce counterparty risk,
as well as through the signing of various master agreements for bilateral
transactions, the most widely used being the Global Master Repurchase Agreement
(GMRA), published by the 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;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%;">A summary of
the effect of offsetting (via netting and collateral) for derivatives and
securities operations is presented below as of December 31, 2019, 2018 and
2017:</font></font><a name="XBRL_TS_55ae1942214e4fc8915d60aee_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.1_031dic_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">December 2019
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.75pt;">
  <td nowrap valign=bottom width=29% style="border:none;height:27.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#003366 face=Arial,sans-serif style="border:none;"><font color=#003366 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:27.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:27.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:27.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:27.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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:27.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:66.0pt;">
  <td nowrap width=29% style="border:none;border-bottom:solid black 1.0pt;height:66.0pt;padding:0cm 0cm 0cm 0cm;">
  <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=EN-US style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:66.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Notes</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:66.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Gross amounts recognized (A)</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:66.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Gross amounts offset in the consolidated balance sheets (B)</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:66.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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:66.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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:66.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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:66.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=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:8.0pt;">Trading and hedging
  derivatives</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 style="font-size:8.0pt;">10, 15</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 style="font-size:8.0pt;">37,302</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 style="font-size:8.0pt;">2,388</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 style="font-size:8.0pt;">34,914</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 style="font-size:8.0pt;">25,973</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 style="font-size:8.0pt;">8,210</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 style="font-size:8.0pt;">731</font></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td width=29% 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 lang=EN-US style="font-size:8.0pt;">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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">35,805</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 style="font-size:8.0pt;">21</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 style="font-size:8.0pt;">35,784</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 style="font-size:8.0pt;">35,618</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 style="font-size:8.0pt;">204</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 style="font-size:8.0pt;">(39)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=29% style="background:#5AC4C4;border:none;border-bottom:solid 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 Assets</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">73,107</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">2,409</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">70,698</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">61,591</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">8,415</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">692</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom width=29% 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 style="font-size:8.0pt;">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=right style="border:none;margin: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;">10, 15</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">39,646</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">2,394</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">37,252</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 style="font-size:8.0pt;">25,973</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">10,613</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">667</font></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td width=29% 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 lang=EN-US style="font-size:8.0pt;">Repurchase,
  securities lending and similar agreements</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height: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;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">45,977</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 style="font-size:8.0pt;">21</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 style="font-size:8.0pt;">45,956</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 style="font-size:8.0pt;">45,239</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 style="font-size:8.0pt;">420</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 style="font-size:8.0pt;">297</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=29% style="background:#5AC4C4;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 Liabilities</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">85,623</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">2,414</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">83,209</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">71,212</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">11,033</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">964</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>
<p style="border:none;margin:0cm;margin-bottom: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;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.1_032_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">December 2018
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:36.0pt;">
  <td nowrap valign=bottom width=30% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=20% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:72.0pt;">
  <td nowrap width=30% style="border:none;border-bottom:solid black 1.0pt;height:72.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:72.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Notes</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:72.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Gross amounts recognized (A)</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:72.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Gross amounts offset in the consolidated balance sheets (B)</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:72.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Net amount presented in the consolidated balance sheets (C=A-B)</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:72.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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:72.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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:72.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=30% 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 style="font-size:8.0pt;">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=right style="border:none;margin: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;">10, 15</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">49,908</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">16,480</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">33,428</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">25,024</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">7,790</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">613</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=30% 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=EN-US style="font-size:8.0pt;">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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">28,074</font></font></p>
  </td>
 <td nowrap 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">42</font></font></p>
  </td>
 <td nowrap 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">28,032</font></font></p>
  </td>
 <td nowrap 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">28,022</font></font></p>
  </td>
 <td nowrap 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">169</font></font></p>
  </td>
 <td nowrap 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(159)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=30% style="background:#5AC4C4;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:8.0pt;">Total Assets</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=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=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">77,982</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">16,522</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">61,460</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">53,046</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">7,959</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">454</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 style="font-size:8.0pt;">Trading and hedging
  derivatives</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 style="font-size:8.0pt;">10, 15</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 style="font-size:8.0pt;">51,596</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 style="font-size:8.0pt;">17,101</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 style="font-size:8.0pt;">34,494</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 style="font-size:8.0pt;">25,024</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 style="font-size:8.0pt;">6,788</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 style="font-size:8.0pt;">2,682</font></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td width=30% 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;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Repurchase,
  securities lending and similar agreements</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height: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=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">43,035</font></font></p>
  </td>
 <td nowrap width=10% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">42</font></font></p>
  </td>
 <td nowrap width=10% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">42,993</font></font></p>
  </td>
 <td nowrap width=10% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">42,877</font></font></p>
  </td>
 <td nowrap width=10% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">34</font></font></p>
  </td>
 <td nowrap width=10% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">82</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=30% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total liabilities</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:11.25pt;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">94,631</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">17,143</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">77,487</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">67,901</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">6,822</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">2,765</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;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.1_033anual_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">December 2017
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:39.0pt;">
  <td nowrap valign=bottom width=30% 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=#003366 face=Arial,sans-serif style="border:none;"><font color=#003366 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=20% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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:39.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:60.0pt;">
  <td nowrap width=30% 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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Notes</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Gross amounts recognized (A)</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Gross amounts offset in the consolidated balance sheets (B)</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Net amount presented in the consolidated balance sheets (C=A-B)</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=30% 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 style="font-size:8.0pt;">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=right style="border:none;margin: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;">10, 15</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">49,333</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">11,584</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">37,749</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">27,106</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">7,442</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">3,202</font></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td width=30% 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 lang=EN-US style="font-size:8.0pt;">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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">26,426</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 style="font-size:8.0pt;">56</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 style="font-size:8.0pt;">26,369</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 style="font-size:8.0pt;">26,612</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 style="font-size:8.0pt;">141</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 style="font-size:8.0pt;">(384)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=30% style="background:#5AC4C4;border:none;border-bottom:solid 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 Assets</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">75,759</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">11,641</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">64,118</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">53,717</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">7,583</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">2,818</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:8.0pt;">Trading and hedging
  derivatives</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 style="font-size:8.0pt;">10, 15</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 style="font-size:8.0pt;">50,693</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 style="font-size:8.0pt;">11,644</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 style="font-size:8.0pt;">39,049</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 style="font-size:8.0pt;">27,106</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 style="font-size:8.0pt;">8,328</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 style="font-size:8.0pt;">3,615</font></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td width=30% 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 lang=EN-US style="font-size:8.0pt;">Repurchase,
  securities lending and similar agreements</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height: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;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">40,134</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 style="font-size:8.0pt;">56</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 style="font-size:8.0pt;">40,078</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 style="font-size:8.0pt;">40,158</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 style="font-size:8.0pt;">21</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 style="font-size:8.0pt;">(101)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=30% style="background:#5AC4C4;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 Liabilities</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 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=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">90,827</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">11,701</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">79,126</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">67,264</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">8,349</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">3,514</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:5.0pt;">&nbsp;</font></font></p>

<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_9a9981c496af4f21a697b6f53"></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%;">The amount
of recognized financial instruments within derivatives includes the effect in
case of compensation with counterparties with which the Group holds netting
agreements, while, for repos, it reflects the market value of the collateral
associated with the transaction.</font></font><a name="XBRL_TS_9a9981c496af4f21a697b6f53_bclEnd"></a></p>

<h2 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_51b045e79e7340ef805bca9a2"></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-69</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_310"></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:avoid;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;layout-grid-mode:char;">7.3&#160;&#160;
Structural risk &#8211; Non-trading activities</font></b></font></h2>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">The structural
risks are defined, in general terms, as the possibility of sustaining losses
due to adverse movements in market risk factors as a result of mismatches in
the financial structure of an entity&#180;s balance sheet.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">In the Group, the
following types of structural risks are defined, according to the nature and
the following market factors: interest rate, exchange rate and 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:8.0pt;line-height:115%;">The scope of
structural risks in the Group is limited to the banking book, excluding market
risks in the trading book that are clearly delimited and separated and make up
the Market 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:8.0pt;line-height:115%;">The Assets and
Liabilities Committee (ALCO) is the main responsible body for the management of
structural risks regarding liquidity/ funding interest rate, currency, equity
and solvency. Every month, with the participation of the CEO and
representatives from the areas of Finance, Risks and Business Areas, this
committee monitors the structural 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 achieving recurrent earnings and financial stability and preserving
the entity's solvency. &#160;All balance management units have a local ALCO, which
is permanently attended by members of the corporate center, and there is a
corporate ALCO where management strategies are monitored and presented in the
Group's 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:8.0pt;line-height:115%;">Global Risk
Management (GRM) area acts as an independent unit, enabling adequate separation
between the management and risk control functions, and is responsible for assisting
the goal that the structural risks in the Group are managed according to the
strategy approved by 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-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%;">Consequently, GRM
deals with the identification, measurement, monitoring and control of those
risks and their reporting to the corresponding corporate bodies. Through the
Global Risk Management Committee (GRMC), it performs the function of control
and risk assessment and is responsible for developing the strategies, policies,
procedures and infrastructure necessary to identify, evaluate, measure and
manage the significant risks that the BBVA Group faces. To this end, GRM,
through the corporate unit of Structural Risks, proposes a scheme of limits and
alerts that defines the risk appetite set for each of the relevant structural
risk types, both at Group level and by management units, which will be reviewed
annually, reporting the situation periodically to the Group&#8217;s corporate bodies
as well as to the GRMC.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">In addition, both,
the management as well as the control and measurement system of the structural
risks need to be adjusted necessarily to the Group&#8217;s internal control model, in
compliance with the related evaluation and certification processes. In this
regard, the required tasks and controls have been identified and documented,
which allows the Bank to have a regulatory framework that includes precise
processes and measures for structural risks with a global perspective from a
geographical point of view.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">BBVA&#8217;s internal
control model, which is based on high standards, is included within the three
lines of defense. The Finance area is the first line of defense, by being in
charge of the structural risk management, whereas GRM is in charge of the
identification of the risks and establishes policies and control models, which
are periodically evaluated with regard to their performance.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">Within the second
line of defense there is Internal Risk Control, which independently reviews the
structural risk controls, and one entity of Internal Financial Control, which
reviews the design and the effectiveness of the operating management controls.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">Internal Audit,
which works with total independence, represents the third line of defense and
reviews specific controls and processes.</font></font></p>

<h3 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 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">7.3.1&#160;&#160; Structural interest rate risk</font></b></font></h3>

<p style="border:none;margin:0cm;margin-bottom: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%;">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 with an integral vision, combining 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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The exposure of a financial entity
to adverse interest rates movements is a risk inherent to the development of
the banking business, which is also, in turn, an opportunity to create economic
value. Therefore, interest rate risk must be effectively managed so that it is
limited in accordance with the entity&#8217;s equity and in line with the expected
economic result.</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:8.0pt;line-height:115%;">This function falls to the Global
ALM (Asset &amp; Liability Management) unit, within the Finance area, who,
through ALCO, aims to support the recurrence of results and preserve the
solvency of the entity, always adhering to the risk profile defined by the
management bodies of the BBVA Group. The interest rate risk management of the
balance sheet aims to promote the stability of the net interest income and book
value with respect to changes in market interest rates in the different
balance-sheets, while respecting solvency and internal limits, as well as
complying with current and future regulatory requirements. Likewise, a specific
monitoring of the banking book instruments registered at market value (fair
value) is developed, which due to their accounting treatment have an impact on
results and / or equity.</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:8.0pt;line-height:115%;">In this regard, the BBVA Group
maintains an exposure to fluctuations on interest rates according to its
objective strategy and risk profile, being carried out in a decentralized and
independent manner in each of the banking entities that compose its structural
balance-sheet.</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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_311"></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:8.0pt;line-height:115%;">The
management is carried out in accordance with the guidelines established by the
European Banking Authority (EBA), with a monitoring of interest rate risk
metrics, with the aim of analyzing the potential impact that could be derived
from the range of scenarios in the different balance-sheets of the Group.</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:8.0pt;">Nature of 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:8.0pt;line-height:115%;">Repricing risk arises due to the
difference between the repricing or maturity terms of the assets and
liabilities, and represents the most frequent interest rate risk faced by
financial entities. However, other sources of risk as changes in the slope and
shape of the yield curve, the reference to different indexes and the
optionality risk embedded in certain banking transactions, are also taken into
account by the risk control 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:8.0pt;line-height:115%;">BBVA's structural interest-rate
risk management process is formed by a set of metrics and tools that allows for
the precise monitorization of the risk profile of the Group, backed-up by an
assumptions set that aims to characterize the behavior of the balance sheet
items with the maximum accuracy.</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:8.0pt;line-height:115%;">The IRRBB measurement is carried
out on a monthly basis, and includes probabilistic measures based on methods of
scenario simulation, which enables to capture additional sources of risk to the
parallel shifts, as the changes in slope and shape of the yield curve.
Additionally, sensitivity analysis to multiple parallel shocks of different
magnitude are also assessed on a regular basis. The process is run separately
for each currency to which the Group is exposed, considering, at a later stage,
the diversification effect among currencies and business units.</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:8.0pt;line-height:115%;">The risk measurement model is
complemented by the assessment of ad-hoc scenarios and stress tests. As stress
testing has become more relevant during the recent years, the evaluation of extreme
scenarios of rupture of historical interest rates levels, correlations and
volatility has continued to be enhanced, while assessing, also, BBVA Research
market scenarios.</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:8.0pt;line-height:115%;">During 2019 the Group has worked on
the enhancement of the control and management model according to the guidelines
established by the EBA on the management of interest rate risk in the banking
book. It is worth highlighting, among other aspects, the reinforcement of
stress analysis incorporating the assessment of the impacts on the main balance
sheets of the Group that could derive from the range of interest rate scenarios
defined in accordance with the aforementioned EBA guidelines.</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:8.0pt;">Key assumptions of the model</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:8.0pt;line-height:115%;">In order to measure structural
interest rate risk, the setting of assumptions on the evolution and behavior of
certain balance sheet items is particularly relevant, especially those related
to products without an explicit or contractual maturity.</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:8.0pt;line-height:115%;">The assumptions that characterize
these balance sheet items must be understandable for the areas and bodies
involved in risk management and control and remain duly justified and
documented. The modeling of these assumptions must be conceptually reasonable
and consistent with the evidence based on historical experience, reviewed at least
once a year.</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:8.0pt;line-height:115%;">In view of the heterogeneity of the
financial markets and the availability of historical data, each one of the
entities of the Group is responsible for determining the behavior assumptions
to be applied to the balance sheet items, always under the guidelines and the
applicability of the corporate models existing in 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:8.0pt;line-height:115%;">Among the balance sheet assumptions
stand out those established for the treatment of items without contractual
maturity, mainly for demand customer deposits, and those related to the
expectations on the exercise of interest rate options, especially those
relating to loans and deposits subject to prepayment 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:8.0pt;line-height:115%;">For the modeling of demand
deposits, a segmentation of the accounts in several categories is previously
carried out depending on the characteristics of the customer (retail /
wholesale) and the product (type of account / transactionality / remuneration),
in order to outline the specific behavior of each segment.</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:8.0pt;line-height:115%;">In order to establish the
remuneration of each segment, the relationship between the evolution of market
interest rates and the interest rates of managed accounts is analyzed, with the
aim of determining the translation dynamic (percentages and lags) of interest
rates variations to the remuneration of the accounts.</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:8.0pt;line-height:115%;">The behavior assigned to each
category of accounts is determined by an analysis of the historical evolution
of the balances and the probability of cancellation of the accounts. For this,
the volatile part of the balance assigned to a short-term maturity is isolated,
thus avoiding fluctuations in the level of risk caused by specific variations
in the balances and promoting stability in the management of the balance. Once
the stable part is identified, a medium / long term maturity model is applied through
a decay distribution based on the average term of the accounts and the
conditional cancellation probabilities throughout the life of the product.</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:8.0pt;line-height:115%;">Additionally, the relationship of
the evolution of the balance of deposits with the levels of market interest
rates is taken into account, where appropriate, including the potential
migration between the different types of deposits (on demand / time deposits)
in the different interest rate scenarios.</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-71</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_312"></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:8.0pt;line-height:115%;">Equally
relevant is the treatment of early cancelation options embedded in credit
loans, mortgage portfolios and customer deposits. The evolution of market
interest rates may condition, along with other variables, the incentive that
customers have to prepay loans or deposits, modifying the future behavior of the
balance amounts with respect to the forecasted contractual maturity schedule.</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:8.0pt;line-height:115%;">The detailed analysis of the
historical information related to prepayment data, both partial and total
prepayment, combined with other variables such as interest rates, allows estimating
future amortizations and, where appropriate, their behavior linked to the
evolution of such variables.</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:8.0pt;line-height:115%;">The approval and updating of the
risk behavior models of structural interest rate risk are subject to corporate
governance under the scope of GRM-Analytics. In this way, the models must be
properly inventoried and cataloged and comply with the requirements established
in the internal procedures for their development, updating and management of
the changes. The models are also subject to the corresponding internal
validations based on their relevance and the established monitoring
requirements.</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:8.0pt;line-height:115%;">The table
below shows the profile of average interest rate risk in terms of sensitivities
of the main banks in the BBVA Group in 2019:</font></font><a name="XBRL_TS_51b045e79e7340ef805bca9a2_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.2_011dic_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Sensitivity
  to interest-rate analysis - December 2019</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td nowrap valign=bottom width=36% style="border:none;height:25.5pt;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;"><font color=white face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Impact on net interest income (*)</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Impact on economic value (**)</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td nowrap width=36% style="border:none;border-bottom: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=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 width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">100 basis-point increase</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">100 basis-point decrease</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">100 basis-point increase</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=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;">Europe (***)</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 style="font-size:8.0pt;">+ (5% - 10%)</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 style="font-size:8.0pt;">- (0% - 5%)</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 style="font-size:8.0pt;">+ (0% - 5%)</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 style="font-size:8.0pt;">- (0% - 5%)</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;">Mexico</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 style="font-size:8.0pt;">+ (0% - 5%)</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 style="font-size:8.0pt;">- (0% - 5%)</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 style="font-size:8.0pt;">+ (0% - 5%)</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 style="font-size:8.0pt;">- (0% - 5%)</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;">The United States</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 style="font-size:8.0pt;">+ (5% - 10%)</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 style="font-size:8.0pt;">- (5% - 10%)</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 style="font-size:8.0pt;">- (5% - 10%)</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 style="font-size:8.0pt;">+ (0% - 5%)</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;">Turkey</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 style="font-size:8.0pt;">+ (0% - 5%)</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 style="font-size:8.0pt;">- (0% - 5%)</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 style="font-size:8.0pt;">- (0% - 5%)</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 style="font-size:8.0pt;">+ (0% - 5%)</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 style="font-size:8.0pt;">South America</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 style="font-size:8.0pt;">+ (0% - 5%)</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 style="font-size:8.0pt;">- (0% - 5%)</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 style="font-size:8.0pt;">- (0% - 5%)</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 style="font-size:8.0pt;">+ (0% - 5%)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=36% style="background:#5AC4C4;border:none;border-bottom:solid 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;">BBVA Group</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">+ (0% - 5%)</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">- (0% - 5%)</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">- (0% - 5%)</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">- (0% - 5%)</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;page-break-after:avoid;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_TS_cd084893e9f5489b959e998aa"></a><a name="XBRL_FS_fcf02553075c4323b7a702485"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*)&#160;&#160;&#160; Percentage of &quot;1
year&quot; net interest income forecast for each unit.</font></font><a name="XBRL_FS_fcf02553075c4323b7a702485_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_9f8049ce086340e79615c14e7"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(**)&#160;&#160; Percentage of Core
Capital for each unit.</font></font><a name="XBRL_FS_9f8049ce086340e79615c14e7_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_f906488b90c94e44bb7030136"></a><a name="XBRL_FS_a0d03e80df2f46aaa202c9c92"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(***) In Europe, includes falling
interest rates at more negative level than current rates.</font></font><a name="XBRL_FS_a0d03e80df2f46aaa202c9c92_bclEnd"></a><a name="XBRL_FS_f906488b90c94e44bb7030136_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:8.0pt;line-height:115%;">In 2019 in Europe monetary policy
has remained expansionary, implementing in the last part of the year a new
package of measures to boost the economy and the financial system in response
to a weaker global economic environment. This environment, coupled with
uncertainty about trade policy and low inflation led the Federal Reserve of the
United States to begin a process of interest rate cuts. Both monetary
authorities, taking into account the recent signals regarding a stabilization
of the economic growth, have not changed the interest rates during the last
months. In Mexico and Turkey, a bearish cycle was initiated in the second half
of the year due to economic weakness and inflation prospects. In South America,
monetary policy has been expansive, with declines in the economies of Chile and
Peru, caused by the slowdown of the activity and the contained inflation, while
in Colombia interest rates have remained flat. On the other hand, in Argentina
there is a restrictive monetary policy, with a strong increase in interest
rates due to the strong volatility of the markets after the election result.</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:8.0pt;line-height:115%;">BBVA maintains, at the aggregate
level, a favorable position in net interest income in the event of an increase in
interest rates, as well as a moderate risk profile, in line with its target,
through effective management of structural balance sheet risk. The higher net
interest income sensitivities are observed in, particularly the Euro and USD.</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:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">In Europe, the risk of a decrease
in interest rates is limited given the current levels, preventing extremely
adverse scenarios.</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:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">In the United States, the net
interest margin sensitivity has decreased during 2019 due to the downward trend
of interest rates, showing therefore a moderate risk profile.</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:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Mexico shows a high level of
stability between the balance sheets referenced to fixed and variable interest
rates, keeping limited net interest income sensitivity throughout 2019.</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:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">In Turkey, the evolution of the
balance sheets in Turkish lira and USD has been positive, with very moderate
interest rate risk, which has allowed to reduce sensitivity during the year.</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:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">In South America, the balance sheet
profiles in the countries which this business area comprises have remained
stable, showing a low interest rate risk with an almost stable sensitivity
during the year.</font></font></p>

<h3 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 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">7.3.2&#160;&#160; Structural exchange-rate risk </font></b></font></h3>

<p style="border:none;margin:0cm;margin-bottom: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%;">Structural exchange rate risk,
inherent to the business of international banking groups that develop their
activities in different geographies and currencies, is defined as the
possibility of impacts on solvency, equity value and results driven by
fluctuations in the exchange rates due to exposures in foreign currencies.</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:8.0pt;line-height:115%;">In the 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 management of permanent foreign currency
exposures, taking diversification into account.</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-72</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_313"></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:8.0pt;line-height:115%;">The
corporate Global ALM unit, through ALCO, designs and executes hedging
strategies with the main purpose of preserving the stability of consolidated
capital ratios and income flows generated in a currency other than the euro in
the BBVA Group, keeping a value generation perspective to preserve the Group&#8217;s
equity in the long term. To this end, a dynamic management strategy is carried
out, considering hedge transactions according to market expectations and their
costs.</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:8.0pt;line-height:115%;">The risk monitoring metrics
included in the framework of limits, in line with the Risk Appetite Framework,
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 (&#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>

<p style="border:none;margin:0cm;margin-bottom: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%;">The suitability of these risk
assessment metrics is reviewed on a regular basis through back-testing
exercises. The final element of structural exchange-rate risk control is the
stress and scenario analysis aimed to assess the vulnerabilities of foreign
currency structural exposure not contemplated by the risk metrics and to serve
as an additional tool when making management decisions. 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:8.0pt;line-height:115%;">As of December 31, 2019, it is
worth mentioning the appreciation of the main currencies of the geographies
where the Group operates against the euro, especially the Mexican peso (6%) and
the US Dollar (2%). The Turkish lira (-9%) and the Argentinian peso (-36%) have
depreciated, the latter being 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:8.0pt;line-height:115%;">The Group's structural
exchange-rate risk exposure level has slightly increased since the end of 2018
driven by the effect of currencies appreciation. The hedging policy intends to
keep low levels of sensitivity to movements in the exchange rates of emerging markets
currencies against the euro and focuses mainly on the Mexican peso and the Turkish
lira. The risk mitigation level in the capital ratio due to the book value of the
BBVA Group's holdings in foreign emerging markets currencies stood at around
65% and, as of the end of 2019, CET1 ratio sensitivity to the depreciation of
10% in the euro exchange rate for each currency was: USD +11 bp; Mexican peso
-4 bps; Turkish Lira -2 bps; other currencies -1 bp (excluding hyperinflation
economies). On the other hand, hedging of emerging markets currency denominated
earnings in 2019 was 52%, concentrated in Mexican peso, Turkish lira and the
main Latin American currencies.</font></font></p>

<h3 style="border:none;margin-bottom:10.0pt;margin-left:49.6pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-49.6pt;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">7.3.3&#160;&#160; Structural equity risk</font></b></font></h3>

<p style="border:none;margin:0cm;margin-bottom: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%;">Structural equity risk refers to
the possibility of suffering losses in the value of positions in shares and
other equity instruments held in the banking book with long or medium term
investment horizons due to fluctuations in the value of equity indexes or 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:8.0pt;line-height:115%;">BBVA Group's exposure to structural
equity risk arises largely from minority shareholdings held on industrial and
financial companies. This exposure is modulated in some portfolios with
positions held on 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:8.0pt;line-height:115%;">The management of structural equity
portfolios is a responsibility of Global ALM and other 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:8.0pt;line-height:115%;">The structural equity risk metrics,
designed by GRM according to the corporate model, contribute to the effective
monitoring of the risk by estimating the sensitivity and the capital necessary
to cover the possible unexpected losses due to changes in the value of the
shareholdings in the Group's investment portfolio, with a level of confidence
that corresponds to the objective rating of the entity, taking into account the
liquidity of the positions and the statistical behavior of the assets to be
considered.</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:8.0pt;line-height:115%;">In order to analyze the risk
profile in depth, stress tests and scenario analysis of sensitivity to different
simulated scenarios are carried out. They are based on both past crisis
situations and forecasts made by BBVA Research. These analyses are carried out
regularly to assess the vulnerabilities of structural equity exposure not
contemplated by the risk metrics and to serve as an additional tool when making
management decisions.</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:8.0pt;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:8.0pt;line-height:115%;">With regard to the equity markets,
the world indexes have closed the year 2019 with generalized gains and
volatility moderation in a macro environment of global growth slowdown.</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:8.0pt;line-height:115%;">Structural equity risk, measured in
terms of economic capital, has remained fairly stable in the period. </font><font color=black face=Arial,sans-serif lang=EN-US style="background:white;font-size:8.0pt;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 decreased to -&#8364;26 million as of
December 31, 2019, compared to -&#8364;29 million as of December 31, 2018. 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 portfolios) and the net delta-equivalent positions in derivatives on the
same underlyings.</font></font><a name="Nota_8"></a><a name="_Toc341276318"></a><a name="Nota_8_bclEnd"></a><a name="XBRL_TS_cd084893e9f5489b959e998aa_bclEnd"></a></p>



<font face=Arial,sans-serif style="border:none;">
&nbsp;</font>



<h2 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_26c319f7c1744bffb979054eb"></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;layout-grid-mode:char;">7.4&#160;&#160; Liquidity and funding risk</font></b></font></h2>

<p style="border:none;margin:0cm;margin-bottom: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%;">Liquidity and funding risk is
defined as the incapacity of a bank to meet its payment commitments for missing
resources or that, to face those commitments, should have to make use of
funding under burdensome terms.</font></font></p>

<h3 style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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;page-break-after:avoid;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:9.0pt;">7.4.1&#160;&#160; Liquidity and Funding Strategy and Planning</font></b></font></h3>

<p style="border:none;margin:0cm;margin-bottom: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%;">The BBVA Group is a multinational
financial institution whose business is focused mainly on retail and commercial
banking activities. In addition to the retail business model, which forms the
core of its business, the Group engages in corporate and investment banking,
through the global CIB (Corporate &amp; Investment Banking) division.</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:8.0pt;line-height:115%;">Liquidity
and funding risk management aims to maintain a solid balance sheet structure
which allows a sustainable business model. The Group&#8217;s liquidity and funding
strategy is based on the following pillars:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The
principle of the funding self-sufficiency of its subsidiaries, meaning that
each of the Liquidity Management Units (LMUs) must cover its funding needs
independently on the markets where it operates. This avoids possible contagion
due to a crisis affecting one or more of the Group&#8217;s LMUs.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Stable
customer deposits as the main source of funding in all the LMUs, in accordance
with the Group&#8217;s business model.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Diversification
of the sources of wholesale funding, in terms of maturity, market, instruments,
counterparties and currencies, with recurring access to the markets.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Compliance
with regulatory requirements, enabling the availability of ample liquidity
buffers, as well as sufficient instruments as required by regulations with the
capacity to absorb losses.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Compliance
with the internal Liquidity Risk and Funding metrics, while adhering to the
Risk Appetite level established for each LMU at any time.</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:8.0pt;line-height:115%;">Liquidity and funding risk
management aims to support that in the short term a bank does not have any
difficulties in meeting its payment commitments in due time and form, and that
it does not have to make use of funding under burdensome terms, or conditions
that deteriorate its image or reputation.</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:8.0pt;line-height:115%;">In the medium term the aim is to
support that the Group&#8217;s financing structure is ideal and that it is moving in
the right direction with respect to the economic situation, the markets and
regulatory 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:8.0pt;line-height:115%;">This management of structural and
liquidity funding is based on the principle of financial self-sufficiency of
the entities that make it up. This approach helps prevent and limit liquidity
risk by reducing the Group&#8217;s vulnerability during periods of high risk. This
decentralized management prevents possible contagion from a crisis affecting
only one or a few Group entities, which must act independently to meet their
liquidity requirements in the markets where they operate.</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:8.0pt;line-height:115%;">As one aspect of this strategy,
BBVA Group is organized into eleven LMUs composed of the parent and the banking
subsidiaries in each geographical area, plus the independent branches.</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:8.0pt;line-height:115%;">In addition, the policy for
managing liquidity and funding risk is also based on the model&#8217;s robustness and
on the planning and integration of risk management into the budgeting process
of each LMU, according to the appetite for funding risk it decides to assume in
its business. </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:8.0pt;line-height:115%;">Liquidity and funding planning is
drawn up as part of the strategic processes for the Group&#8217;s budgetary and
business planning. It allows a recurring growth of the banking business with
suitable maturities and costs within the established risk tolerance levels by
using a wide range of instruments which allow the diversification of the
funding sources and the maintenance of a high volume of available liquid
assets.</font></font></p>

<h3 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 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">7.4.2&#160;&#160; Governance and monitoring</font></b></font></h3>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;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%;">The responsibility for liquidity
and funding management in normal business activity lies with the Finance area
as a first line of defense in managing the risks inherent to this activity, in
accordance with the principles established by the European Banking Authority
EBA and in line with the standards, policies, procedures and controls in the
framework established by the governing bodies. The Finance department, through
the Balance-Sheet Management area, plans and executes the funding of the
structural long-term gap of each LMU and proposes to the Assets and Liabilities
Committee (ALCO) the actions to be taken on this matter, in accordance with the
policies established by the Risk and Compliance Committee in line with the
metrics of the Risk Appetite Framework approved by the Board of 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:8.0pt;line-height:115%;">The Finance area, in its regulatory
liquidity reporting function, coordinates the processes necessary to meet any reporting
requirements that may be generated at corporate and regulatory level, with the
areas responsible for this reporting in each LMU, thereby monitoring the
integrity of the information supplied.</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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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 face=Calibri,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Times New Roman;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 style="border:none;margin:0cm;margin-bottom: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%;">GRM is
responsible for promoting that liquidity and funding risk in the Group is
managed according to the strategy approved by the Board of Directors. It is
also responsible for identifying, measuring, monitoring and controlling those
risks and reporting to the proper corporate governing bodies. To carry out this
work adequately, the risk function in the Group has been set up as a single,
global function that is independent of the management areas.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:12.0pt;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:8.0pt;line-height:115%;">In addition, the Group has an Internal Risk Control unit that
conducts an independent review of Liquidity and Funding Risk control and
management, independently of the functions performed in this area by Internal Audit.
Additionally, the Group has in its second line of defense an Internal Risk
Control unit, which performs independent reviews of the Liquidity and Funding
risk controls, and an Internal Financial Control unit, which reviews the design
and effectiveness of the operating management controls and the liquidity
reporting.</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:8.0pt;line-height:115%;">As a third line of defense in the
Group&#8217;s internal control model, Internal Audit is in charge of reviewing
specific controls and processes in accordance with an annual work plan.</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:8.0pt;line-height:115%;">The Group&#8217;s fundamental objectives
regarding the liquidity and funding risk are determined through the Liquidity
Coverage Ratio (LCR) and through the Loan-to-Stable Customer Deposits (LtSCD)
ratio.</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:8.0pt;line-height:115%;">The LCR ratio is a regulatory
metric that aims to enable the resilience of entities in a scenario of
liquidity tension within a time horizon of 30 days. Within its risk appetite
framework and system of limits and alerts, BBVA has established a required LCR
compliance level for the entire Group and for each individual LMU. The required
internal levels aim to comply efficiently and sufficiently in advance with the
implementation of the regulatory requirement at a level above 100%.</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:8.0pt;line-height:115%;">The LtSCD ratio measures the
relationship between net lending and stable customer funds. The aim is to
preserve a stable funding structure in the medium term for each LMU making up the
BBVA Group, taking into account that maintaining an adequate volume of stable
customer funds is key to achieving a sound liquidity profile. In geographical
areas with balance sheets with two currencies, the indicator is also controlled
by currency to manage the mismatches that might occur.</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:8.0pt;line-height:115%;">Stable customer funds can be
considered as those obtained and managed by the LMUs among their target
customers. Those funds are characterized by their low sensitivity to market
changes and by their less volatile behavior at aggregated level per operation
due to the loyalty of the customer to the entity. The stable resources are
calculated by applying to each identified customer segment a haircut determined
by the analysis of the stability if the balances by which different aspects are
evaluated (concentration, stability, level of loyalty). The main source of
stable resources arises from wholesale funding and retail customer 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:8.0pt;line-height:115%;">In order to establish the target
(maximum) levels of LtSCD in each LMU and provide an optimal funding structure
reference in terms of risk appetite, the corporate Structural Risks unit of GRM
identifies and assesses the economic and financial variables that condition the
funding structures in the different geographical 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:8.0pt;line-height:115%;">Additionally, liquidity and funding
risk management aims to achieve a proper diversification of the funding
structure, avoiding excessive reliance on short-term funding by establishing a
maximum level for the short-term funds raised, including both wholesale funding
and customer funds. The residual maturity profile of long-term wholesale
funding has no significant concentrations, which matches the schedule of
planned issues to the best possible financial conditions of markets, as shown
in the table below. Finally, concentration risk is monitored at LMU level, with
the aim of allowing a correct diversification of both the counterparty and type
of instrument.</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:8.0pt;line-height:115%;">One of the fundamental metrics within
the general management framework of the liquidity and funding risk is the
maintaining of a liquidity buffer consisting of high quality assets free of
charges which can be sold or offered as guarantees to obtain funding, either
under normal market conditions or in stress situations.</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:8.0pt;line-height:115%;">The Finance area is responsible for
the collateral management and determining the liquidity buffer within the BBVA
Group. According to the principle of auto-sufficiency of the subsidiaries,
every LMU is responsible for the holding of a buffer of liquid assets which
comply with the regulatory requirements applicable under each jurisdiction. In
addition, the liquidity buffer of each LMU should be aligned with the liquidity
and funding risk tolerance as well as the management limits set and approved
for each case.</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:8.0pt;line-height:115%;">In this context, the short-term
resistance of the liquidity risk profile is promoted, enabling that each LMU
has sufficient collateral to deal with the risk of the close of wholesale
markets. 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 up to one year, with special relevance being given to 30-day
90-day maturities, in order to maintain the survivability period above the 3
months with the available buffer, not taking into consideration the inflows of
the balance sheet.</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-75</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-fareast-font-family:Calibri;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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 face=Calibri,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Times New Roman;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 style="border:none;margin:0cm;margin-bottom: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%;">Stress tests
are carried out as a fundamental element of the liquidity and funding risk
monitoring scheme. They enable anticipating deviations from the liquidity
targets and the limits set in the appetite, and establishing tolerance ranges
in the different management areas. They also play a major role in the design of
the Liquidity Contingency Plan and the definition of specific measures to be
adopted to rectify the risk profile if necessary.</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:8.0pt;line-height:115%;">For each scenario, it is checked
whether BBVA has a sufficient stock of liquid assets to assist its capacity to
meet the liquidity commitments/outflows in the different periods analyzed. The
analysis considers four scenarios: one central 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 entity&#8217;s
customers; and a mixed scenario, as a combination of the two aforementioned
scenarios). Each scenario considers the following factors: existing market
liquidity, customer behavior and sources of funding, the impact of rating
downgrades, market values of liquid assets and collateral, and the interaction
between liquidity requirements and the development of the LMU&#8217;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:8.0pt;line-height:115%;">The stress tests conducted on a regular
basis reveal that BBVA maintains a sufficient buffer of liquid assets to deal
with the estimated liquidity outflows in a scenario resulting from the
combination of a systemic crisis and an unexpected internal crisis, during a
period of longer than 3 months in general for the different LMUs, including in
the scenario of a significant downgrade of the Bank&#8217;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:8.0pt;line-height:115%;">Together with the results of the
stress tests and the risk metrics, the early warning indicators play an
important role within the corporate model and the Liquidity Contingency Plan.
They are mainly indicators of the funding structure, in relation to asset
encumbrance, counterparty concentration, flights of customer deposits,
unexpected use of credit facilities, and of the market, which help anticipate
possible risks and capture market expectations.</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:8.0pt;line-height:115%;">Finance is the area responsible for
the elaboration, monitoring, execution and update of the liquidity and funding
plan and of the market access strategy to assist and improve the stability and
diversification of the wholesale funding sources.</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:8.0pt;line-height:115%;">In order to implement and establish
management in an anticipated manner, limits are set on an annual basis for the
main management metrics that form part of the budgeting process for the
liquidity and funding plan. This framework of limits contributes to the
planning of the joint future performance of:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The loan
book, considering the types of assets and their degree of liquidity, as well as
their validity as collateral in collateralized funding.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Stable
customer funds, based on the application of a methodology for establishing
which segments and customer balances are considered to be stable or volatile
funds based on the principle of sustainability and recurrence of these funds.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Projection of
the credit gap, in order to require a degree of self-funding that is defined in
terms of the difference between the loan-book and stable customer funds.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Incorporating
the planning of securities portfolios into the banking book, which include both
fixed-interest and equity securities, and are classified as financial assets at
fair value through other comprehensive income and at amortized cost, and
additionally on trading portfolios.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The
structural gap projection, as a result of assessing the funding needs generated
both from the credit gap and by the securities portfolio in the banking book,
together with the rest of on-balance-sheet wholesale funding needs, excluding
trading portfolios. This gap therefore needs to be funded with customer funds
that are not considered stable or on wholesale markets.</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:8.0pt;line-height:115%;">As a result of these funding needs,
BBVA Group plans the target wholesale funding structure according to the
tolerance set in each LMU target.</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:8.0pt;line-height:115%;">Thus, once the structural gap has
been identified and after resorting to wholesale markets, the amount and
composition of wholesale structural funding is established in subsequent years,
in order to maintain a diversified funding mix and support that there is not a
high reliance on short-term funding (short-term wholesale funding plus volatile
customer 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:8.0pt;line-height:115%;">In practice, the execution of the
principles of planning and self-funding at the different LMUs results in the
Group&#8217;s main source of funding being customer deposits, which consist mainly of
demand deposits, savings deposits and time deposits. </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:8.0pt;line-height:115%;">As sources of funding, customer
deposits are complemented by access to the interbank market and the domestic
and international capital markets in order to address additional liquidity
requirements, implementing domestic and international programs for the issuance
of commercial paper and medium and long-term debt.</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-76</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-fareast-font-family:Calibri;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</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;"><font face=Calibri,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Times New Roman;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 style="border:none;margin:0cm;margin-bottom: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%;">The process
of analysis and assessment of the liquidity and funding situation and of the
inherent risks is a process carried out on an ongoing basis in the BBVA Group,
with the participation of all the Group areas involved in liquidity and funding
risk management. This process is carried out at both local and corporate level.
It is incorporated into the decision- making process for liquidity and funding
management, with integration between the risk appetite strategy and
establishment and the planning process, the funding plan and the limits scheme.</font></font></p>

<h3 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 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">7.4.3&#160;&#160; Liquidity and funding performance</font></b></font></h3>

<p style="border:none;margin:0cm;margin-bottom: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%;">During 2019, the BBVA Group has
maintained a robust and dynamic funding structure with a predominantly retail
nature, where customer resources represent the main source of funding.</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:8.0pt;line-height:115%;">The performance of the indicators
show that the funding structure remained steady during 2019, 2018 and 2017, in
the sense that all LMUs held self-funding levels with stable customer resources
above the requirements.</font></font><a name="XBRL_TS_26c319f7c1744bffb979054eb_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.5_041_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">LtSCD by LMU</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap width=28% 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=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 width=24% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 2019</font></b></font></p>
  </td>
 <td width=24% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 2018</font></b></font></p>
  </td>
 <td width=24% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap valign=bottom width=28% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Group (average)</font></b></font></p>
  </td>
 <td nowrap width=24% 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 style="font-size:8.0pt;">108%</font></b></font></p>
  </td>
 <td nowrap width=24% 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 style="font-size:8.0pt;">106%</font></b></font></p>
  </td>
 <td nowrap width=24% 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 style="font-size:8.0pt;">110%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap valign=bottom width=28% 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 style="font-size:8.0pt;">Eurozone</font></font></p>
  </td>
 <td nowrap width=24% 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 style="font-size:8.0pt;">108%</font></font></p>
  </td>
 <td nowrap width=24% 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 style="font-size:8.0pt;">101%</font></font></p>
  </td>
 <td nowrap width=24% 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 style="font-size:8.0pt;">108%</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap valign=bottom width=28% 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 style="font-size:8.0pt;">BBVA Mexico</font></font></p>
  </td>
 <td nowrap width=24% 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 style="font-size:8.0pt;">116%</font></font></p>
  </td>
 <td nowrap width=24% 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 style="font-size:8.0pt;">114%</font></font></p>
  </td>
 <td nowrap width=24% 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 style="font-size:8.0pt;">109%</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap valign=bottom width=28% 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 style="font-size:8.0pt;">BBVA USA</font></font></p>
  </td>
 <td nowrap width=24% 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 style="font-size:8.0pt;">111%</font></font></p>
  </td>
 <td nowrap width=24% 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 style="font-size:8.0pt;">119%</font></font></p>
  </td>
 <td nowrap width=24% 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 style="font-size:8.0pt;">109%</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap valign=bottom width=28% 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 style="font-size:8.0pt;">Garanti BBVA</font></font></p>
  </td>
 <td nowrap width=24% 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 style="font-size:8.0pt;">99%</font></font></p>
  </td>
 <td nowrap width=24% 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 style="font-size:8.0pt;">110%</font></font></p>
  </td>
 <td nowrap width=24% 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 style="font-size:8.0pt;">122%</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap valign=bottom width=28% 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 style="font-size:8.0pt;">Other LMUs</font></font></p>
  </td>
 <td nowrap width=24% 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 style="font-size:8.0pt;">103%</font></font></p>
  </td>
 <td nowrap width=24% 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 style="font-size:8.0pt;">99%</font></font></p>
  </td>
 <td nowrap width=24% 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 style="font-size:8.0pt;">108%</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:8.0pt;line-height:115%;">With respect to LCR, the Group has
maintained a liquidity buffer at both consolidated and individual level in
2019. This has maintained the ratio above 100%, with the consolidated ratio as
of December 2019 standing at 129%.</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:8.0pt;line-height:115%;">Although this requirement is only
established at Group level and for banks in the Eurozone, the minimum level
required was exceeded in all the subsidiaries. It should be noted that the
calculation of the Consolidated LCR does not allow for the transfer of liquidity
between subsidiaries, so no excess of liquidity is transferred from entities
abroad to the consolidated ratio. If the impact of these highly liquid assets
was excluded, the LCR would be 158%, or +29 basis points above the required
level.</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.5_101_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">LCR main LMU</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap width=31% 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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">0</font></b></font></p>
  </td>
 <td width=23% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 2019</font></b></font></p>
  </td>
 <td width=23% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 2018</font></b></font></p>
  </td>
 <td width=23% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap valign=bottom width=31% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Group </font></b></font></p>
  </td>
 <td nowrap width=23% 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 style="font-size:8.0pt;">129%</font></b></font></p>
  </td>
 <td nowrap width=23% 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 style="font-size:8.0pt;">127%</font></b></font></p>
  </td>
 <td nowrap width=23% 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 style="font-size:8.0pt;">128%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap valign=bottom width=31% 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 style="font-size:8.0pt;">Eurozone</font></font></p>
  </td>
 <td nowrap width=23% 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 style="font-size:8.0pt;">147%</font></font></p>
  </td>
 <td nowrap width=23% 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 style="font-size:8.0pt;">145%</font></font></p>
  </td>
 <td nowrap width=23% 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 style="font-size:8.0pt;">151%</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap valign=bottom width=31% 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 style="font-size:8.0pt;">BBVA Mexico</font></font></p>
  </td>
 <td nowrap width=23% 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 style="font-size:8.0pt;">147%</font></font></p>
  </td>
 <td nowrap width=23% 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 style="font-size:8.0pt;">154%</font></font></p>
  </td>
 <td nowrap width=23% 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 style="font-size:8.0pt;">148%</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap valign=bottom width=31% 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 style="font-size:8.0pt;">BBVA USA (*)</font></font></p>
  </td>
 <td nowrap width=23% 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 style="font-size:8.0pt;">145%</font></font></p>
  </td>
 <td nowrap width=23% 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 style="font-size:8.0pt;">143%</font></font></p>
  </td>
 <td nowrap width=23% 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 style="font-size:8.0pt;">144%</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td nowrap valign=bottom width=31% 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 style="font-size:8.0pt;">Garanti BBVA</font></font></p>
  </td>
 <td nowrap width=23% 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 style="font-size:8.0pt;">206%</font></font></p>
  </td>
 <td nowrap width=23% 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 style="font-size:8.0pt;">209%</font></font></p>
  </td>
 <td nowrap width=23% 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 style="font-size:8.0pt;">134%</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_fa3b161099ce41e39c48d90e2"></a><a name="XBRL_TS_3e076f7c4e5641ba91e05fefc"></a><a name="XBRL_FS_49f84a9e15a54fca9fe7c2377"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*)BBVA USA
LCR calculated according to local regulation (Fed Modified LCR).</font></font><a name="XBRL_FS_49f84a9e15a54fca9fe7c2377_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:8.0pt;line-height:115%;">Each entity maintains an individual
liquidity buffer, both BBVA, S.A. and each of its subsidiaries, including BBVA
USA, BBVA Mexico, Garanti BBVA and the Latin American subsidiaries.</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:8.0pt;line-height:115%;">The table
below shows the liquidity available by instrument as of December 31, 2019, 2018
and 2017 for the most significant entities based on prudential supervisor&#8217;s
information (Commission Implementing Regulations (EU) 2017/2114 of November 9,
2017):</font></font><a name="XBRL_TS_3e076f7c4e5641ba91e05fefc_bclEnd"></a><a name="XBRL_TS_fa3b161099ce41e39c48d90e2_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.5_051dic_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">December 2019
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:24.95pt;">
  <td nowrap width=40% 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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">BBVA Eurozone</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">BBVA Mexico</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">BBVA USA</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Garanti BBVA</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Other</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=40% 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=EN-US style="font-size:8.0pt;">Cash and
  withdrawable central bank reserves</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 style="font-size:8.0pt;">14,516</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 style="font-size:8.0pt;">6,246</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 style="font-size:8.0pt;">4,949</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 style="font-size:8.0pt;">6,450</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 style="font-size:8.0pt;">6,368</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=40% 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;">Level 1 tradable
  assets</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">41,961</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">7,295</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">11,337</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">7,953</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">3,593</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=40% 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 style="font-size:8.0pt;">Level 2A tradable
  assets</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">403</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">316</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">344</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=40% 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 style="font-size:8.0pt;">Level 2B tradable
  assets</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">5,196</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">219</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">12</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=40% 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 style="font-size:8.0pt;">Other tradable assets</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">22,213</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">1,269</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">952</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">669</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">586</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=40% 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 lang=EN-US style="font-size:8.0pt;">Non tradable
  assets eligible for central banks</font></font></p>
  </td>
 <td nowrap width=12% 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,935</font></font></p>
  </td>
 <td nowrap width=12% 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=12% 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td nowrap width=40% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Cumulated
  counterbalancing capacity</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">84,288</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">15,344</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">20,516</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">15,072</font></b></font></p>
  </td>
 <td nowrap width=12% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">10,559</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 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 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-77</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-fareast-font-family:Calibri;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_318"></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 face=Calibri,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Times New Roman;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>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.5_053_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">December 2018 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td nowrap width=40% 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=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">BBVA Eurozone</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">BBVA Mexico</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">BBVA USA</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Garanti BBVA</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Other</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom 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=EN-US style="font-size:8.0pt;">Cash and
  withdrawable central bank reserves</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 style="font-size:8.0pt;">26,506</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 style="font-size:8.0pt;">7,666</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 style="font-size:8.0pt;">1,667</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 style="font-size:8.0pt;">7,633</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 style="font-size:8.0pt;">6,677</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=40% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Level 1 tradable
  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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">29,938</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 style="font-size:8.0pt;">4,995</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 style="font-size:8.0pt;">10,490</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 style="font-size:8.0pt;">6,502</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 style="font-size:8.0pt;">3,652</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=40% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Level 2A tradable
  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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">449</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 style="font-size:8.0pt;">409</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 style="font-size:8.0pt;">510</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 style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=40% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Level 2B tradable
  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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,040</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 style="font-size:8.0pt;">33</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 style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=40% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 tradable 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">8,772</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 style="font-size:8.0pt;">1,372</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 style="font-size:8.0pt;">1,043</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 style="font-size:8.0pt;">499</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 style="font-size:8.0pt;">617</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=40% 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=EN-US style="font-size:8.0pt;">Non tradable
  assets eligible for central banks</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 style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,314</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 style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=40% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Cumulated
  counterbalancing capacity</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">69,705</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">14,475</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">16,024</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">14,634</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">10,946</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_FS_ac11c30e38bf4be68815a8276"></a><a name="XBRL_TS_aaf2fc15689d445a8f95da6bc"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*) The
balance of &#8220;BBVA Eurozone&#8221; has been reexpressed including the available funding
in the European Central Bank (ECB)</font></font><a name="XBRL_FS_ac11c30e38bf4be68815a8276_bclEnd"></a><a name="XBRL_TS_aaf2fc15689d445a8f95da6bc_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.5_054_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">December 2017
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=35% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;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=13% style="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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">BBVA Eurozone (1)</font></b></font></p>
  </td>
 <td width=13% style="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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">BBVA Mexico</font></b></font></p>
  </td>
 <td width=13% style="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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">BBVA USA</font></b></font></p>
  </td>
 <td width=13% style="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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Garanti BBVA</font></b></font></p>
  </td>
 <td width=13% style="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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Other</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% 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=EN-US style="font-size:8.0pt;">Cash and
  withdrawable central bank reserves</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 style="font-size:8.0pt;">15,634</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 style="font-size:8.0pt;">8,649</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 style="font-size:8.0pt;">2,150</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 style="font-size:8.0pt;">6,692</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 style="font-size:8.0pt;">6,083</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% 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;">Level 1 tradable
  assets</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 style="font-size:8.0pt;">38,954</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 style="font-size:8.0pt;">3,805</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 style="font-size:8.0pt;">9,028</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 style="font-size:8.0pt;">5,705</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 style="font-size:8.0pt;">6,141</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% 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;">Level 2A tradable
  assets</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 style="font-size:8.0pt;">386</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 style="font-size:8.0pt;">418</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 style="font-size:8.0pt;">753</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 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 style="font-size:8.0pt;">10</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% 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;">Level 2B tradable
  assets</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 style="font-size:8.0pt;">4,995</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 style="font-size:8.0pt;">69</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 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 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 style="font-size:8.0pt;">21</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% 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 tradable assets
  (*)</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 style="font-size:8.0pt;">10,192</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 style="font-size:8.0pt;">1,703</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 style="font-size:8.0pt;">1,252</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 style="font-size:8.0pt;">962</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 style="font-size:8.0pt;">1,573</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap 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;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Non tradable
  assets eligible for central banks</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">2,800</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Cumulated
  counterbalancing capacity</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">70,163</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">14,644</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">15,983</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">13,359</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">13,828</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;"><a name="XBRL_TS_f853a8001d3f451bbbc4c4a79"></a><a name="XBRL_FS_da0916fd164948b98db9e7107"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=ES style="font-size:6.0pt;line-height:115%;">(1) Includes Banco
Bilbao Vizcaya Argentaria, S.A. and Banco Bilbao Vizcaya Argentaria (Portugal),
S.A.</font></font><a name="XBRL_FS_da0916fd164948b98db9e7107_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_FS_7a28234892bd4cdebe0f1df09"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*) The balance of &#8220;BBVA Eurozone&#8221; has been reexpressed including
the available funding in the European Central Bank (ECB)</font></font><a name="XBRL_FS_7a28234892bd4cdebe0f1df09_bclEnd"></a><a name="XBRL_TS_f853a8001d3f451bbbc4c4a79_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_724175e6173e4cb1b347843f5"></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%;">The Net
Stable Funding Ratio (NSFR), defined as the ratio between the amount of stable
funding available and the amount of stable funding required, is one of the
Basel Committee's essential reforms, and requires banks to maintain a stable
funding profile in relation to the composition of their assets and
off-balance-sheet activities. This ratio should be at least 100% at all times. </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:8.0pt;line-height:115%;">The NSFR of
BBVA Group and its main LMUs at December 31, 2019, calculated based on the
Basel requirements, is the following:</font></font><a name="XBRL_TS_724175e6173e4cb1b347843f5_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.5_NSFR_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:9.0pt;">
  <td colspan=2 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:7.0pt;">NSFR main LMU</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=26% 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=#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=74% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">December 2019</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap valign=bottom width=26% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Group </font></b></font></p>
  </td>
 <td nowrap width=74% 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 style="font-size:7.0pt;">120%</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap valign=bottom 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 style="font-size:7.0pt;">BBVA Eurozone</font></font></p>
  </td>
 <td nowrap width=74% 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 style="font-size:7.0pt;">113%</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:7.0pt;">BBVA Mexico</font></font></p>
  </td>
 <td nowrap width=74% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">130%</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:7.0pt;">BBVA USA</font></font></p>
  </td>
 <td nowrap width=74% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">116%</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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:7.0pt;">Garanti BBVA</font></font></p>
  </td>
 <td nowrap width=74% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">151%</font></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_e967822a54c84d919c348d054"></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%;">Below is a
matrix of residual maturities by contractual periods based on supervisory
prudential reporting as of December 31, 2019, 2018 and 2017:</font></font><a name="XBRL_TS_e967822a54c84d919c348d054_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.5_061dic_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">December
  2019. Contractual maturities (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:62.25pt;">
  <td nowrap width=23% style="border:none;border-bottom:solid black 1.0pt;height:62.25pt;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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:62.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Demand </font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:62.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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:62.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">1 to 3 months</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:62.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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:62.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">6 to 9 months</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:62.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">9 to 12 months</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:62.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">1 to 2 years</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:62.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2 to 3 years</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:62.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">3 to 5 years </font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:62.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Over 5 years</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:62.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:28.5pt;">
  <td width=23% style="border:none;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 lang=EN-US 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: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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">20,954</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">20,654</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;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 style="font-size:8.0pt;">41,608</font></b></font></p>
  </td>
 </tr>
<tr style="height:17.25pt;">
  <td width=23% 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 style="font-size:8.0pt;">Deposits in credit
  entities</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">3,591</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">283</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">488</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">585</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">503</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">189</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">24</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">120</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">432</font></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">6,216</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=23% 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=EN-US style="font-size:8.0pt;">Deposits in
  other financial institutions</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">1,336</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">1,120</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">796</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">589</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">991</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">1,420</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">1,072</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">672</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">2,089</font></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">10,084</font></b></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td width=23% 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 lang=EN-US style="font-size:8.0pt;">Reverse repo,
  securities borrowing and margin lending</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">21,612</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,858</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,287</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">561</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">808</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,121</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,838</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">411</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">803</font></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">36,299</font></b></font></p>
  </td>
 </tr>
<tr style="height:17.25pt;">
  <td width=23% 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 style="font-size:8.0pt;">Loans and advances</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">157</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">22,015</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">25,056</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">24,994</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">15,777</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">16,404</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">42,165</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">35,917</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">54,772</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">122,098</font></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">359,354</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=23% 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:8.0pt;">Securities' portfolio settlement</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,622</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,873</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6,620</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,017</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7,292</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">21,334</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6,115</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">13,240</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">46,022</font></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">108,136</font></b></font></p>
  </td>
 </tr>
</table></div>




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<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:8.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.5_062dic_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">December
  2019. Contractual maturities (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:52.5pt;">
  <td nowrap width=23% 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 lang=EN-US 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">1 to 3 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">6 to 9 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">9 to 12 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">1 to 2 years</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2 to 3 years</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">3 to 5 years </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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Over 5 years</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=23% 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;">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 style="font-size:8.0pt;">1</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 style="font-size:8.0pt;">1,393</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 style="font-size:8.0pt;">1,714</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 style="font-size:8.0pt;">4,208</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 style="font-size:8.0pt;">1,645</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 style="font-size:8.0pt;">4,386</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 style="font-size:8.0pt;">8,328</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 style="font-size:8.0pt;">10,608</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 style="font-size:8.0pt;">10,803</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 style="font-size:8.0pt;">27,840</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">70,927</font></b></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 style="font-size:8.0pt;">Deposits in financial
  institutions</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">7,377</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">7,608</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">493</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">1,122</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">172</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">1,514</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">386</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">614</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">206</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">510</font></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">20,004</font></b></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td width=23% 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 lang=EN-US style="font-size:8.0pt;">Deposits in
  other financial institutions and international agencies</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">10,177</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,859</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">867</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">381</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">367</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">257</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">982</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">503</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">499</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">952</font></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">18,843</font></b></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 style="font-size:8.0pt;">Customer deposits</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">271,638</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">43,577</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">18,550</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">10,013</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">7,266</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">6,605</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">3,717</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">2,062</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">854</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">1,039</font></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">365,321</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=23% 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;">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 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 style="font-size:8.0pt;">45,135</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 style="font-size:8.0pt;">3,202</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 style="font-size:8.0pt;">15,801</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 style="font-size:8.0pt;">1,456</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 style="font-size:8.0pt;">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 style="font-size:8.0pt;">3,393</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 style="font-size:8.0pt;">7,206</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 style="font-size:8.0pt;">759</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 style="font-size:8.0pt;">1,308</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">78,914</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=23% 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;">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 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 style="font-size:8.0pt;">(66)</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 style="font-size:8.0pt;">(25)</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 style="font-size:8.0pt;">29</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 style="font-size:8.0pt;">(11)</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 style="font-size:8.0pt;">1,097</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 style="font-size:8.0pt;">(830)</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 style="font-size:8.0pt;">(278)</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 style="font-size:8.0pt;">(333)</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 style="font-size:8.0pt;">(420)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(838)</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;"><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 title="F_I_7.5_063_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">December
  2018. Contractual maturities (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:61.5pt;">
  <td nowrap width=23% 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 lang=EN-US 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">1 to 3 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">6 to 9 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">9 to 12 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">1 to 2 years</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2 to 3 years</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">3 to 5 years </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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Over 5 years</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:27.75pt;">
  <td width=23% style="border:none;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 lang=EN-US 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: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 style="font-size:8.0pt;">9,550</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;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 style="font-size:8.0pt;">40,599</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% style="border:none;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 style="font-size:8.0pt;">50,149</font></b></font></p>
  </td>
 </tr>
<tr style="height:17.25pt;">
  <td width=23% 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 style="font-size:8.0pt;">Deposits in credit
  entities</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">801</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">3,211</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">216</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">141</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">83</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">152</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">133</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">178</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">27</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">1,269</font></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">6,211</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=23% 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=EN-US style="font-size:8.0pt;">Deposits in
  other financial institutions</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">1,408</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">750</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">664</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">647</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">375</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">1,724</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">896</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">1,286</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">2,764</font></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">10,515</font></b></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td width=23% 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 lang=EN-US style="font-size:8.0pt;">Reverse repo,
  securities borrowing and margin lending</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">21,266</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,655</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,158</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">805</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">498</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">205</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,352</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">390</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">210</font></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">27,539</font></b></font></p>
  </td>
 </tr>
<tr style="height:17.25pt;">
  <td width=23% 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 style="font-size:8.0pt;">Loans and Advances</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">132</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">19,825</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">25,939</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">23,265</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">15,347</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">16,433</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">42,100</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">32,336</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">53,386</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">120,571</font></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">349,334</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=23% 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:8.0pt;">Securities' portfolio
  settlement</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,875</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,379</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5,990</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,148</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6,823</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">8,592</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">12,423</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">11,533</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">42,738</font></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">96,501</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;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%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.5_064_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">December
  2018. Contractual Maturities (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:52.5pt;">
  <td nowrap width=23% 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 lang=EN-US 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">1 to 3 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">6 to 9 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">9 to 12 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">1 to 2 years</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2 to 3 years</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">3 to 5 years </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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Over 5 years</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=23% 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;">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 style="font-size:8.0pt;">1</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 style="font-size:8.0pt;">2,678</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 style="font-size:8.0pt;">1,652</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 style="font-size:8.0pt;">2,160</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 style="font-size:8.0pt;">2,425</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 style="font-size:8.0pt;">2,736</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 style="font-size:8.0pt;">7,225</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 style="font-size:8.0pt;">8,578</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 style="font-size:8.0pt;">16,040</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 style="font-size:8.0pt;">26,363</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">69,858</font></b></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 style="font-size:8.0pt;">Deposits in financial
  institutions</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">7,107</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">5,599</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">751</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">1,992</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">377</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">1,240</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">1,149</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">229</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">196</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">904</font></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">19,544</font></b></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td width=23% 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 lang=EN-US style="font-size:8.0pt;">Deposits in
  other financial institutions and international agencies</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">10,680</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,327</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,580</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">458</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">302</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">309</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">781</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">304</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">825</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,692</font></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">21,258</font></b></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 style="font-size:8.0pt;">Customer deposits</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">252,630</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">44,866</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">18,514</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">10,625</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">6,217</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">7,345</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">5,667</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">2,137</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">1,207</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">1,310</font></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">350,518</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=23% 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;">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 style="font-size:8.0pt;">40</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 style="font-size:8.0pt;">46,489</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 style="font-size:8.0pt;">2,219</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 style="font-size:8.0pt;">2,274</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 style="font-size:8.0pt;">114</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 style="font-size:8.0pt;">97</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 style="font-size:8.0pt;">22,911</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 style="font-size:8.0pt;">526</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 style="font-size:8.0pt;">218</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 style="font-size:8.0pt;">1,627</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">76,515</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=23% 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;">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 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 style="font-size:8.0pt;">(75)</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 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 style="font-size:8.0pt;">(68)</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 style="font-size:8.0pt;">(5)</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 style="font-size:8.0pt;">(117)</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 style="font-size:8.0pt;">498</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 style="font-size:8.0pt;">(91)</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 style="font-size:8.0pt;">(67)</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 style="font-size:8.0pt;">(392)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(840)</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;"><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>


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<p style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow: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-bidi-font-family:Times New Roman;mso-fareast-font-family:Calibri;"><font face=Calibri,sans-serif lang=ES style="font-size:11.0pt;line-height:.7pt;">&nbsp;</font></font></p>


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<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.5_065_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">December 2017. Contractual Maturities (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:61.5pt;">
  <td nowrap width=23% 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 lang=EN-US 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">1 to 3 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">6 to 9 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">9 to 12 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">1 to 2 years</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2 to 3 years</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">3 to 5 years </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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Over 5 years</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=23% 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=EN-US 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: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 style="font-size:8.0pt;">8,179</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:8.0pt;">31,029</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">39,208</font></b></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 style="font-size:8.0pt;">Deposits in credit
  entities</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">252</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">4,391</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">181</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">169</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">120</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">122</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">116</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">112</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">157</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">1,868</font></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">7,488</font></b></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=EN-US style="font-size:8.0pt;">Deposits in
  other financial institutions</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">939</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">758</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">796</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">628</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">447</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">1,029</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">681</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">806</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">1,975</font></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">8,060</font></b></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td width=23% 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 lang=EN-US style="font-size:8.0pt;">Reverse repo,
  securities borrowing and margin lending</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">18,979</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,689</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,921</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">541</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">426</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">815</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">30</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">727</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">226</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">26,354</font></b></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 style="font-size:8.0pt;">Loans and Advances</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">267</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">21,203</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">26,323</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">23,606</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">15,380</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">17,516</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">43,973</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">35,383</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">50,809</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">123,568</font></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">358,028</font></b></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 style="font-size:8.0pt;">Securities' portfolio
  settlement</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">1,579</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">4,159</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">4,423</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">2,380</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">13,391</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">5,789</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">11,289</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">12,070</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">44,666</font></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">99,747</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;"><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 title="F_I_7.5_066_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">December
  2017. Contractual maturities (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:52.5pt;">
  <td nowrap width=23% 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 lang=EN-US 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">1 to 3 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">6 to 9 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">9 to 12 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">1 to 2 years</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2 to 3 years</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">3 to 5 years </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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Over 5 years</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=23% 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;">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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">3,648</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 style="font-size:8.0pt;">4,209</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 style="font-size:8.0pt;">4,238</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 style="font-size:8.0pt;">1,227</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 style="font-size:8.0pt;">2,456</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 style="font-size:8.0pt;">5,772</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 style="font-size:8.0pt;">6,432</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 style="font-size:8.0pt;">18,391</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 style="font-size:8.0pt;">30,162</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">76,535</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=23% 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 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 style="font-size:8.0pt;">6,831</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 style="font-size:8.0pt;">5,863</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 style="font-size:8.0pt;">1,082</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 style="font-size:8.0pt;">2,335</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 style="font-size:8.0pt;">392</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 style="font-size:8.0pt;">1,714</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 style="font-size:8.0pt;">930</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 style="font-size:8.0pt;">765</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 style="font-size:8.0pt;">171</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 style="font-size:8.0pt;">1,429</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">21,512</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=23% 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=EN-US 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 style="font-size:8.0pt;">10,700</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 style="font-size:8.0pt;">4,827</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 style="font-size:8.0pt;">3,290</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 style="font-size:8.0pt;">1,959</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 style="font-size:8.0pt;">554</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 style="font-size:8.0pt;">1,328</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 style="font-size:8.0pt;">963</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 style="font-size:8.0pt;">286</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 style="font-size:8.0pt;">355</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 style="font-size:8.0pt;">1,045</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">25,307</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=23% 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;">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 style="font-size:8.0pt;">233,068</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 style="font-size:8.0pt;">45,171</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 style="font-size:8.0pt;">18,616</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 style="font-size:8.0pt;">11,428</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 style="font-size:8.0pt;">8,711</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 style="font-size:8.0pt;">10,368</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 style="font-size:8.0pt;">7,607</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 style="font-size:8.0pt;">2,612</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 style="font-size:8.0pt;">1,833</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 style="font-size:8.0pt;">2,034</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">341,448</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=23% 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;">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 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 style="font-size:8.0pt;">35,502</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 style="font-size:8.0pt;">2,284</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 style="font-size:8.0pt;">1,405</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 style="font-size:8.0pt;">396</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 style="font-size:8.0pt;">973</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 style="font-size:8.0pt;">64</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 style="font-size:8.0pt;">23,009</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 style="font-size:8.0pt;">338</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 style="font-size:8.0pt;">1,697</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">65,668</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=23% 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;">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 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 style="font-size:8.0pt;">(18)</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 style="font-size:8.0pt;">(110)</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 style="font-size:8.0pt;">(116)</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 style="font-size:8.0pt;">(135)</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 style="font-size:8.0pt;">(117)</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 style="font-size:8.0pt;">(336)</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 style="font-size:8.0pt;">(91)</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 style="font-size:8.0pt;">(106)</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 style="font-size:8.0pt;">(419)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(1,448)</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_d94af6d4862749358695188ee"></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%;">The matrix
shows the retail nature of the funding structure, with a loan portfolio being
mostly funded by customer deposits. 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 receive a better treatment.</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:8.0pt;line-height:115%;">In the Euro Liquidity Management
Unit (LMU), the liquidity and funding position continued to be solid and stable
with a slightly increase of the credit gap in 2019. During 2019, BBVA, S.A.
made 7 issues in the public market for an aggregate of &#8364;5,750 million and USD
1,000 million; two issues of Senior Non Preferred (&#8220;SNP&#8221;) securities at 5 years
for &#8364;1,000 million each and another one at 7 years for &#8364;1,000 million; a T2
issue at 10 years with an early amortization option after the fifth year for &#8364;750
million; two AT1 issues for &#8364;1,000 million and USD 1,000 million respectively
with an early amortization option after five and a half years for the first and
5 years for the second; and a Senior Preferred securities issue at 7 years for
&#8364;1,000 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:8.0pt;line-height:115%;">In Mexico, there was a sound
liquidity position despite the credit gap increase in 2019. This increase is
mainly due to a lower increase in deposits as a result of higher market
competition. During the financial year 2019, BBVA Mexico made a Tier II issuance
on international markets for USD 750 million as well as carried out a
repurchase for the same amount as part of two subordinated issuances with a
maturity in 2020 and 2021 which were no longer computing in capital ratios.
They also made an issuance on the local market for 10,000 million of Mexican
pesos in 2 tranches: 5,000 million at 3 years and 5,000 million at 8 years.</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:8.0pt;line-height:115%;">In the United States, a positive
liquidity situation has been maintained with a decrease in the credit gap
during the year mainly as a result of an increase in the deposits which has
allowed to reduce the dependency on brokered deposits. During the third quarter
of 2019, BBVA USA issued successfully a Senior debt note of USD 600 million at
5 years.</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-80</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-fareast-font-family:Calibri;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</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">

<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 face=Calibri,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Times New Roman;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 style="border:none;margin:0cm;margin-bottom: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%;">In Turkey we
closed the year with a satisfactory liquidity situation, with Garanti BBVA
showing an evolution of the credit gap in foreign currency and therefore
reducing the wholesale financing, allowing throughout a passable buffer of
liquid assets. The main operations during the year were two syndicated loans
for USD 1,600 million, a subordinated issuance for an amount of 252 million of
Turkish lira (&#8364;39 million) and a securitization (Diversified Payment Rights)
for USD 150 million. In addition, Garanti BBVA financed itself with a bilateral
loan for an amount of USD 322 million and issued a green bond for USD 50
million in December 2019. Furthermore, additional bilateral funds for USD 110
million have been signed in December 2019.</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:8.0pt;line-height:115%;">Argentina was affected by the
change in the political situation generating a reduction of deposits and
credits in foreign currency in the banking system. In this context, BBVA
Argentina has maintained at any time a satisfactory liquidity position
supported by higher requirements of regulatory reserve regulations. BBVA
Argentina issued 1,619 million of Argentine pesos (&#8364;24 million) in the local
market in the first quarter of 2019 and later, in the fourth quarter, issued an
additional 1,967 million of Argentine pesos (&#8364;29 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:8.0pt;line-height:115%;">The liquidity position of the rest
of subsidiaries has continued to be sound, maintaining a satisfactory liquidity
position in all the jurisdictions in which the Group operates.</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:8.0pt;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 enabling 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></p>

<h3 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 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">7.4.4&#160;&#160; Asset encumbrance</font></b></font></h3>

<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:8.0pt;line-height:115%;">As of
December 31, 2019, 2018 and 2017, the encumbered (those provided as collateral
for certain liabilities) and unencumbered assets are broken down as follows:</font></font><a name="XBRL_TS_d94af6d4862749358695188ee_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.5_071dic_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">December 2019
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td nowrap valign=bottom width=34% 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=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=33% 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Encumbered assets</font></b></font></p>
  </td>
 <td colspan=2 width=33% 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Non-encumbered assets</font></b></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td nowrap 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=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 width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Book value </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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Market value</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Book value </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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Market value </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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">101,792</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 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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">596,898</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 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 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 style="font-size:8.0pt;">3,526</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 style="font-size:8.0pt;">3,526</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 style="font-size:8.0pt;">12,113</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 style="font-size:8.0pt;">12,113</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;">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 style="font-size:8.0pt;">29,630</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 style="font-size:8.0pt;">29,567</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 style="font-size:8.0pt;">95,611</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 style="font-size:8.0pt;">95,611</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=EN-US 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 style="font-size:8.0pt;">68,636</font></font></p>
  </td>
 <td nowrap width=16% style="background:#A7A7A7;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin: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=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 style="font-size:8.0pt;">489,174</font></font></p>
  </td>
 <td nowrap width=17% style="background:#A7A7A7;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin: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>
 </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:8.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.5_072_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">December 2018
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td nowrap valign=bottom width=35% 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=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 colspan=2 width=32% 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Encumbered assets</font></b></font></p>
  </td>
 <td colspan=2 width=33% 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Non-encumbered assets</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 align=center style="border:none;margin:0cm;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=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Book value </font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Market value</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Book value </font></b></font></p>
  </td>
 <td width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Market value</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=35% 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 style="font-size:8.0pt;">Assets</font></b></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 style="font-size:8.0pt;">107,950</font></font></p>
  </td>
 <td nowrap width=16% 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 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=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 style="font-size:8.0pt;">567,573</font></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=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>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=35% 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;">Equity instruments</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 style="font-size:8.0pt;">1,864</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 style="font-size:8.0pt;">1,864</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 style="font-size:8.0pt;">6,485</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 style="font-size:8.0pt;">6,485</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 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 style="font-size:8.0pt;">31,157</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 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 style="font-size:8.0pt;">82,209</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 style="font-size:8.0pt;">82,209</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 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Loans and
  Advances and other assets</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 style="font-size:8.0pt;">74,928</font></font></p>
  </td>
 <td nowrap width=16% style="background:#A7A7A7;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#A7A7A7 face=Arial,sans-serif style="border:none;"><font color=#A7A7A7 face=Arial,sans-serif style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">478,880</font></font></p>
  </td>
 <td nowrap width=17% style="background:#A7A7A7;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#A7A7A7 face=Arial,sans-serif style="border:none;"><font color=#A7A7A7 face=Arial,sans-serif style="font-size:8.0pt;">-</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;"><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 title="F_I_7.5_073_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=5 nowrap width=100% style="background:#E9E9E9;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">December 2017
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td nowrap valign=bottom width=35% 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=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 colspan=2 width=32% 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Encumbered assets</font></b></font></p>
  </td>
 <td colspan=2 width=33% 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Non-encumbered assets</font></b></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td nowrap width=35% 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 style="font-size:8.0pt;">&nbsp;</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Book value</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Market value</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Book value</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Market value</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=35% 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 style="font-size:8.0pt;">Assets</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 style="font-size:8.0pt;">110,600</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 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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">579,459</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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=35% 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;">Equity instruments</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 style="font-size:8.0pt;">2,297</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 style="font-size:8.0pt;">2,297</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 style="font-size:8.0pt;">9,616</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 style="font-size:8.0pt;">9,616</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 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 style="font-size:8.0pt;">28,700</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 style="font-size:8.0pt;">29,798</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 style="font-size:8.0pt;">84,391</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 style="font-size:8.0pt;">84,391</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 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Loans and
  Advances and other assets</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 style="font-size:8.0pt;">79,604</font></font></p>
  </td>
 <td nowrap width=16% style="background:#A7A7A7;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin: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=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 style="font-size:8.0pt;">485,451</font></font></p>
  </td>
 <td nowrap width=17% style="background:#A7A7A7;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin: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>
 </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_1b1bad4e15ad4ddbbcdc97491"></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-81</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-fareast-font-family:Calibri;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_322"></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 face=Calibri,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Times New Roman;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 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:8.0pt;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 22.4) 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 enable 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:8.0pt;line-height:115%;">As of December 31, 2019, 2018 and
2017, collateral pledges received 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_1b1bad4e15ad4ddbbcdc97491_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.5_081dic_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">December
  2019. Collateral received (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:72.75pt;">
  <td nowrap width=41% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:72.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Fair value of encumbered collateral received or own debt
  securities issued</font></b></font></p>
  </td>
 <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:72.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=20% style="border:none;border-bottom:solid black 1.0pt;height:72.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=41% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Collateral received</font></b></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">38,496</font></b></font></p>
  </td>
 <td nowrap width=19% 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 style="font-size:8.0pt;">9,208</font></b></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">48</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:8.0pt;">Equity instruments</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 style="font-size:8.0pt;">65</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 style="font-size:8.0pt;">70</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:8.0pt;">Debt securities</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 style="font-size:8.0pt;">38,431</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 style="font-size:8.0pt;">9,130</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 style="font-size:8.0pt;">38</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=41% 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=EN-US style="font-size:8.0pt;">Loans and
  advances and other assets</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 style="font-size:8.0pt;">-</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 2.0pt;">
  <p align=right style="border:none;margin: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;">8</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 style="font-size:8.0pt;">10</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=41% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Own debt
  securities issued other than own covered bonds or ABSs</font></b></font></p>
  </td>
 <td nowrap width=20% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=19% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">82</font></b></font></p>
  </td>
 <td nowrap width=20% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">-</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%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.5_082_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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=41% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:72.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Fair value of encumbered collateral received or own debt
  securities issued</font></b></font></p>
  </td>
 <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:72.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=20% style="border:none;border-bottom:solid black 1.0pt;height:72.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=41% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Collateral received</font></b></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">27,474</font></b></font></p>
  </td>
 <td nowrap width=19% 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 style="font-size:8.0pt;">5,633</font></b></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">319</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:8.0pt;">Equity instruments</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 style="font-size:8.0pt;">89</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 style="font-size:8.0pt;">82</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:8.0pt;">Debt securities</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 style="font-size:8.0pt;">27,385</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 style="font-size:8.0pt;">5,542</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 style="font-size:8.0pt;">300</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=41% 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=EN-US style="font-size:8.0pt;">Loans and
  advances and other assets</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 style="font-size:8.0pt;">-</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 2.0pt;">
  <p align=right style="border:none;margin: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;">8</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 style="font-size:8.0pt;">19</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=41% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Own debt
  securities issued other than own covered bonds or ABSs</font></b></font></p>
  </td>
 <td nowrap width=20% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">78</font></b></font></p>
  </td>
 <td nowrap width=19% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">87</font></b></font></p>
  </td>
 <td nowrap width=20% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">-</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%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.5_083_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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=41% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:72.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Fair value of encumbered collateral received or own debt
  securities issued</font></b></font></p>
  </td>
 <td width=19% style="border:none;border-bottom:solid black 1.0pt;height:72.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=20% style="border:none;border-bottom:solid black 1.0pt;height:72.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=41% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Collateral received</font></b></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">23,881</font></b></font></p>
  </td>
 <td nowrap width=19% 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 style="font-size:8.0pt;">9,630</font></b></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">201</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:8.0pt;">Equity instruments</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 style="font-size:8.0pt;">103</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 style="font-size:8.0pt;">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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:8.0pt;">Debt securities</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 style="font-size:8.0pt;">23,715</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 style="font-size:8.0pt;">9,619</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 style="font-size:8.0pt;">121</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=41% 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=EN-US style="font-size:8.0pt;">Loans and
  Advances and other assets</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 style="font-size:8.0pt;">63</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 2.0pt;">
  <p align=right style="border:none;margin: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;">6</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 style="font-size:8.0pt;">80</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=41% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Own debt
  securities issued other than own covered bonds or ABSs</font></b></font></p>
  </td>
 <td nowrap width=20% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">3</font></b></font></p>
  </td>
 <td nowrap width=19% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">161</font></b></font></p>
  </td>
 <td nowrap width=20% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">-</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_b55660db74e4444eb8289ba53"></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%;">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_0"></a><a name="_Toc341276318_0"></a><a name="Nota_8_0_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%;">As of December 31, 2019, 2018
and 2017, 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:8.0pt;line-height:115%;">:</font></font><a name="XBRL_TS_b55660db74e4444eb8289ba53_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_7.5_UNIFICADA091_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:9.0pt;">
  <td colspan=7 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:6.5pt;">Sources of
  encumbrance (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td nowrap valign=bottom width=19% style="border:none;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 lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 nowrap width=28% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.5pt;">December 2019</font></b></font></p>
  </td>
 <td colspan=2 nowrap width=27% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.5pt;">December 2018</font></b></font></p>
  </td>
 <td colspan=2 nowrap width=26% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.5pt;">December 2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:54.0pt;">
  <td nowrap width=19% style="border:none;border-bottom:solid black 1.0pt;height:54.0pt;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.5pt;">Matching liabilities, contingent liabilities or securities lent</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.5pt;">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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.5pt;">debt securities issued other than covered bonds and ABSs
  encumbered</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.5pt;">Matching liabilities, contingent liabilities or securities lent</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.5pt;">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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.5pt;">debt securities issued other than covered bonds and ABSs
  encumbered</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.5pt;">Matching liabilities, contingent liabilities or securities lent</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.5pt;">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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.5pt;">debt securities issued other than covered bonds and ABSs
  encumbered</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td valign=bottom width=19% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:6.5pt;">Book value of
  financial liabilities</font></b></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.5pt;">124,252</font></b></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.5pt;">135,500</font></b></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.5pt;">113,498</font></b></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:6.5pt;">131,172</font></b></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:6.5pt;">118,704</font></b></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:6.5pt;">133,312</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom width=19% 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 style="font-size:6.5pt;">Derivatives</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.5pt;">19,066</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.5pt;">20,004</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.5pt;">8,972</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:6.5pt;">11,036</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:6.5pt;">11,843</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:6.5pt;">11,103</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom width=19% 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 style="font-size:6.5pt;">Loans and advances</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.5pt;">87,906</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.5pt;">94,240</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.5pt;">85,989</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:6.5pt;">97,361</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:6.5pt;">87,484</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:6.5pt;">98,478</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom 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 style="font-size:6.5pt;">Outstanding
  subordinated debt</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.5pt;">17,280</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.5pt;">21,256</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.5pt;">18,538</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:6.5pt;">22,775</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:6.5pt;">19,377</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:6.5pt;">23,732</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td valign=bottom width=19% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.5pt;">Other sources</font></b></font></p>
  </td>
 <td nowrap width=14% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.5pt;">449</font></b></font></p>
  </td>
 <td nowrap width=14% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.5pt;">4,788</font></b></font></p>
  </td>
 <td nowrap width=14% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.5pt;">3,972</font></b></font></p>
  </td>
 <td nowrap width=13% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.5pt;">4,330</font></b></font></p>
  </td>
 <td nowrap width=13% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.5pt;">305</font></b></font></p>
  </td>
 <td nowrap width=13% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.5pt;">1,028</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-82</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-fareast-font-family:Calibri;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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 face=Calibri,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Times New Roman;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>
<h2 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_ce19e18fdf434808a001a9956"></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;layout-grid-mode:char;">7.5&#160;&#160; Legal risk factors</font></b></font></h2>

<p style="border:none;margin:0cm;margin-bottom: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%;">The financial sector is exposed to
increasing litigation, so the financial institutions face a large number of
proceedings of every kind, civil, criminal, administrative, litigation, as well
as investigations from the supervisor or other governmental authorities, along
several jurisdictions, which consequences are difficult to determine (including
those procedures in which an undetermined number of applicants is involved, in
which damages claimed are not easy to estimate, in which an exorbitant amount
is claimed, in which new jurisdictional issues are introduced under creative
non &#8211; contrasted legal arguments and those which are at a very initial stage).</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:8.0pt;line-height:115%;">In Spain, in many of the existing
procedures, applicants claim, both at Spanish courts and through preliminary
rulings towards the European Union Court of Justice that various clauses
usually included under a mortgage loan with credit institutions are stated
abusive (including mortgage fees clauses, early redemption right clause,
referenced interest rate type and opening fee).</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:8.0pt;line-height:115%;">In particular, with regards to
consumer mortgage loan agreements linked to the mortgage loan reference index
(&#205;ndice de Referencia de los Pr&#233;stamos Hipotecarios &#8212; mortgage loan reference
index) (IRPH), which is the average interest rate calculated by the Bank of
Spain and published in the Official Spanish Gazette (Bolet&#237;n Oficial del
Estado) for mortgage loans of more than three years for freehold housing
purchases granted by Spanish credit institutions and which is considered the
&#8220;official interest rate&#8221; by mortgage transparency regulations, on 14th
December, 2017 the Spanish Supreme Court, in its Ruling No 669/2017 (the
Ruling), held that it was not possible to determine that a loan's interest rate
was not transparent simply due to it making reference to one official rate or
another, nor can its terms then be confirmed as unfair under the provisions of
Directive 93/13/EEC of 5th April, 1993. As of the date of this Annual Report, a
preliminary ruling is pending in which the Ruling is being challenged before
the Court of Justice of the European Union. BBVA considers that the Ruling is
clear and well founded.</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:8.0pt;line-height:115%;">On 10th September, 2019, the
Advocate General of the Court of Justice of the European Union issued a report
on this matter.</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:8.0pt;line-height:115%;">In that report, the Advocate
General of the Court of Justice of the European Union concluded that the bank
to which the preliminary ruling relates (Bankia, S.A.) complied with the
requirement of transparency imposed by the applicable European regulation. The
Advocate General also indicated that it is for the national courts to carry out
the checks they consider necessary in order to analyze compliance with the
applicable transparency obligations in each individual case.</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:8.0pt;line-height:115%;">The Advocate General's report does
not bind the decision which the Court of Justice of the European Union may take
finally on this matter in the future.</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:8.0pt;line-height:115%;">It is therefore necessary to await
the Court of Justice of the European Union&#8217;s ruling on the matter referred in
the preliminary ruling in order to determine whether it may have any effect on
BBVA.</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:8.0pt;line-height:115%;">The impact of any potential
unfavorable ruling by the Court of Justice of the European Union is difficult
to predict at this time, but could be material. The impact of such a resolution
may vary depending on matters such as (i) the decision of the Court of Justice
of the European Union on what interest rate should be applied to the applicable
loans; and (ii) whether the effects of the judgment are applied retroactively.
According to the latest available information, the amount of mortgage loans to
individuals linked to IRPH and up to date with the payment is approximately
&#8364;2,800 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:8.0pt;line-height:115%;">In addition, there are also claims
before the Spanish courts challenging the application of certain interest rates
and other mandatory rules to certain revolving credit card agreements. The
resolutions in this type of proceedings against the Group or other banking
entities may directly or indirectly affect 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:8.0pt;line-height:115%;">The Group is involved in several
competition investigations and other legal actions related to competition
initiated by third parties in various countries which may give raise to
penalties and claims 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-83</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-fareast-font-family:Calibri;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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 face=Calibri,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Times New Roman;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 style="border:none;margin:0cm;margin-bottom: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%;">Spanish
judicial authorities are investigating the activities of Centro Exclusivo de
Negocios y Transacciones, S.L. (&#8220;Cenyt&#8221;). Such investigation includes the
provision of services by Cenyt to the Bank. On July 29, 2019, the Bank was
named as an investigated party (investigado) in a criminal judicial
investigation (Preliminary Proceeding No. 96/2017 &#8211; Piece No. 9, Central
Investigating Court No. 6 of the National High Court) for alleged facts which
could represent the crimes of bribery, revelation of secrets and corruption. As
at the date of this Annual Report, no formal accusation against the Bank has
been made. Certain current and former officers and employees of the Group, as
well as former directors of the Bank, have also been named as investigated
parties in connection with this investigation. The Bank has been and continues
to be proactively collaborating with the Spanish judicial authorities,
including sharing with the courts information from its on-going forensic
investigation regarding its relationship with Cenyt. The Bank has also
testified before the judge and prosecutors at the request of the Central Investigating
Court No. 6 of the National High Court. </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:8.0pt;line-height:115%;">On February 3, 2020, the Bank was
notified by the Central Investigating Court No. 6 of the National High Court of
the order lifting the secrecy of the proceedings. </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:8.0pt;line-height:115%;">This criminal judicial proceeding
is at a preliminary stage. Therefore, it is not possible at this time to
predict the scope or duration of such proceeding or any related proceeding or
its or their possible outcomes or implications for the Group, including any
fines, damages or harm to the Group&#8217;s reputation caused thereby.</font></font><a name="XBRL_TS_ce19e18fdf434808a001a9956_bclEnd"></a></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:10.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_b7671db054624edb981b9715f"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">8.&#160;&#160; Fair value of financial
instruments</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;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:8.0pt;line-height:115%;">Framework and processes control</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:8.0pt;line-height:115%;">As part of the process established
in the Group for determining the fair value in order to support 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 are members
of these committees.</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:8.0pt;line-height:115%;">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 valuation global area and using models that have been
validated and approved by the responsible areas.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;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:8.0pt;line-height:115%;">Fair value hierarchy</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:8.0pt;line-height:115%;">The fair value of
financial instruments is commonly 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 (market-based 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:8.0pt;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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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 such 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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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>


<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-84</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-fareast-font-family:Calibri;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</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">

<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 face=Calibri,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-family:Times New Roman;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 style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Level 3:
Valuation of financial instruments with valuation techniques that use
significant unobservable inputs in the market. As of December 31, 2019, the
affected instruments at fair value accounted for approximately 0.57% of
financial assets and 0.14% of the Group&#8217;s financial liabilities. Model
selection and validation is undertaken by control areas outside the business
areas.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-36.0pt;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">8.1&#160;&#160; Fair value of financial
instruments </font></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;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The fair value of the Group&#8217;s financial
instruments in the accompanying consolidated balance sheets and its
corresponding carrying amounts, as of December 31, 2019, 2018 and 2017 are
presented below:</font></font><a name="XBRL_TS_b7671db054624edb981b9715f_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_8.1_001_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:9.0pt;">
  <td colspan=6 nowrap width=100% style="background:#E9E9E9;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Fair Value
  and carrying amount (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=45% 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 lang=EN-US style="font-size:7.0pt;">&nbsp;</font></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:14.25pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=22% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2019</font></b></font></p>
  </td>
 <td colspan=2 width=22% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2018</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 style="border: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=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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=right style="border:none;margin:0cm;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 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=#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 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=#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 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=#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 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=#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>
 </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 lang=EN-US 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=right style="border:none;margin: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;">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 style="font-size:7.0pt;">44,303</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 style="font-size:7.0pt;">44,303</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 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 style="font-size:7.0pt;">58,196</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=EN-US 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=right style="border:none;margin: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;">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 style="font-size:7.0pt;">102,688</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">102,688</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:7.0pt;">90,117</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 lang=EN-US 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=right style="border:none;margin: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;">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 style="font-size:7.0pt;">5,557</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 style="font-size:7.0pt;">5,557</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 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 style="font-size:7.0pt;">5,135</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td nowrap 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 lang=EN-US 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=right style="border:none;margin: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;">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 style="font-size:7.0pt;">1,214</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 style="font-size:7.0pt;">1,214</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 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 style="font-size:7.0pt;">1,313</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td nowrap 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 lang=EN-US 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=right style="border:none;margin: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;">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 style="font-size:7.0pt;">61,183</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 style="font-size:7.0pt;">61,183</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 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 style="font-size:7.0pt;">56,337</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=EN-US 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=right style="border:none;margin: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;">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 style="font-size:7.0pt;">439,162</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">442,788</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:7.0pt;">419,857</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 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=right style="border:none;margin: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;">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 style="font-size:7.0pt;">1,729</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 style="font-size:7.0pt;">1,729</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 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 style="font-size:7.0pt;">2,892</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=right style="border:none;margin:0cm;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 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=#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 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=#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 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=#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 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=#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>
 </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 lang=EN-US 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=right style="border:none;margin: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;">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 style="font-size:7.0pt;">89,633</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 style="font-size:7.0pt;">89,633</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 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 style="font-size:7.0pt;">80,774</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 lang=EN-US 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=right style="border:none;margin: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;">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 style="font-size:7.0pt;">10,010</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 style="font-size:7.0pt;">10,010</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 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 style="font-size:7.0pt;">6,993</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=EN-US 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=right style="border:none;margin: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;">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 style="font-size:7.0pt;">516,641</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 style="font-size:7.0pt;">515,910</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 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 style="font-size:7.0pt;">510,300</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 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=right style="border:none;margin: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;">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 style="font-size:7.0pt;">2,233</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 style="font-size:7.0pt;">2,233</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 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 style="font-size:7.0pt;">2,680</font></font></p>
  </td>
 </tr>
</table></div>



<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:8.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_8.1_001.2017_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Fair value
  and carrying amount (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=58% 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=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=28% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=58% 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 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Notes</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Carrying amount</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Fair value</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=58% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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:9.75pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=14% 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=#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 nowrap width=14% 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=#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>
 </tr>
<tr style="height:17.25pt;">
  <td width=58% 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=EN-US 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: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 style="font-size:7.0pt;">9</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">42,680</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">42,680</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Financial
  assets held for trading</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">10</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">64,695</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">64,695</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=58% 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=EN-US style="font-size:7.0pt;">Financial
  assets designated at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">12</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">2,709</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">2,709</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=58% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Available-for-sale
  financial assets</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 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 style="font-size:7.0pt;">69,476</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 style="font-size:7.0pt;">69,476</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=58% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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 receivables</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 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 style="font-size:7.0pt;">431,521</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 style="font-size:7.0pt;">438,991</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap 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:7.0pt;">Held-to-maturity
  investments</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">13,754</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">13,865</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=58% 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 style="font-size:7.0pt;">Derivatives &#8211; Hedge
  accounting</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">15</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">2,485</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">2,485</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=58% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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:9.75pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=14% 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=#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 nowrap width=14% 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=#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>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=58% 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=EN-US style="font-size:7.0pt;">Financial
  liabilities held for trading </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 style="font-size:7.0pt;">10</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 style="font-size:7.0pt;">46,182</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 style="font-size:7.0pt;">46,182</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=58% 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=EN-US style="font-size:7.0pt;">Financial
  liabilities designated at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">12</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">2,222</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">2,222</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=58% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Financial
  liabilities at amortized cost</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 style="font-size:7.0pt;">22</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 style="font-size:7.0pt;">543,713</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 style="font-size:7.0pt;">544,604</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=58% 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;">Derivatives &#8211; Hedge
  accounting</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">15</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">2,880</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">2,880</font></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;"><a name="XBRL_TS_4eab9fb7d8064b76a1d21b5d7"></a><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-36.0pt;"><a name="_Toc474142239"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">8.1.1&#160;&#160;
Fair value of financial instruments recognized at fair value, according to
valuation criteria</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:8.0pt;line-height:115%;">Below are the different elements
used in the valuation technique of financial instruments.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;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:8.0pt;line-height:115%;">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:8.0pt;line-height:115%;">BBVA considers active
market as 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.</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:8.0pt;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>


<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-85</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-fareast-font-family:Calibri;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_326"></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 color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Furthermore,
BBVA would consider as traded in an &#8220;Organized Market&#8221; quotations for assets or
liabilities from Over The Counter (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;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%;">The following table shows the financial instruments carried at
fair value in the accompanying consolidated balance sheets, broken down by
level used to determine their fair value:</font></font><a name="XBRL_TS_4eab9fb7d8064b76a1d21b5d7_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_8.1_002_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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=52% style="border:none;height:8.25pt;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=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 width=24% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">2019</font></b></font></p>
  </td>
 <td colspan=3 width=24% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=52% 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 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Level 1</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Level 2</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Level 3</font></b></font></p>
  </td>
 <td width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Level 1</font></b></font></p>
  </td>
 <td width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Level 3</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#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 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=#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 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=#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 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=#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 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=#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 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=#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:8.25pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Financial
  assets held for trading</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">31,135</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">70,045</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">1,508</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">26,730</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">404</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% style="border:none;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</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">697</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">32,321</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">1,285</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">47</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">28,642</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">60</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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;">Debt securities </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 style="font-size:6.0pt;">18,076</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 style="font-size:6.0pt;">8,178</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 style="font-size:6.0pt;">55</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 style="font-size:6.0pt;">17,884</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 style="font-size:6.0pt;">7,494</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 style="font-size:6.0pt;">199</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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;">Equity instruments </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 style="font-size:6.0pt;">8,832</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">59</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 style="font-size:6.0pt;">5,194</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">60</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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 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 style="font-size:6.0pt;">3,530</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 style="font-size:6.0pt;">29,546</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 style="font-size:6.0pt;">109</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 style="font-size:6.0pt;">3,605</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 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 style="font-size:6.0pt;">85</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=52% 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=EN-US 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=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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">4,305</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">92</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">1,160</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">3,127</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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: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;">1,929</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% style="border:none;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</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">82</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">1,038</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">25</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">1,778</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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;">Debt securities </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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">91</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 style="font-size:6.0pt;">19</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 style="font-size:6.0pt;">90</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 style="font-size:6.0pt;">71</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 style="font-size:6.0pt;">76</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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 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:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,223</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 style="font-size:6.0pt;">1</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 style="font-size:6.0pt;">103</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 style="font-size:6.0pt;">3,012</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 style="font-size:6.0pt;">8</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 style="font-size:6.0pt;">75</font></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Financial
  assets 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: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 style="font-size:6.0pt;">1,214</font></b></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">1,313</font></b></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% style="border:none;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</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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;">Debt securities </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 style="font-size:6.0pt;">1,214</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">1,313</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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 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:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US 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: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 style="font-size:6.0pt;">50,896</font></b></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">9,203</font></b></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">1,084</font></b></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">45,824</font></b></font></p>
  </td>
 <td nowrap width=8% 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 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: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 style="font-size:6.0pt;">1,190</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% style="border:none;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</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">33</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">33</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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;">Debt securities </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 style="font-size:6.0pt;">49,070</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 style="font-size:6.0pt;">9,057</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 style="font-size:6.0pt;">604</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 style="font-size:6.0pt;">43,788</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 style="font-size:6.0pt;">9,211</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 style="font-size:6.0pt;">711</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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 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:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,794</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 style="font-size:6.0pt;">146</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 style="font-size:6.0pt;">480</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 style="font-size:6.0pt;">2,003</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 style="font-size:6.0pt;">113</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 style="font-size:6.0pt;">479</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">44</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">1,685</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">-</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">7</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">3</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#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 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=#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 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=#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 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=#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 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=#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 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=#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:8.25pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Financial
  liabilities held for trading </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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">26,266</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">62,541</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">827</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">22,932</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">57,573</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">269</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% style="border:none;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;">Deposits</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">9,595</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">32,121</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">649</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">7,989</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">29,945</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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;">Trading 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 style="font-size:6.0pt;">4,425</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 style="font-size:6.0pt;">30,419</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 style="font-size:6.0pt;">175</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 style="font-size:6.0pt;">3,919</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 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 style="font-size:6.0pt;">267</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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 style="font-size:6.0pt;">Other financial
  liabilities</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 style="font-size:6.0pt;">12,246</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 style="font-size:6.0pt;">1</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 style="font-size:6.0pt;">2</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 style="font-size:6.0pt;">11,024</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">1</font></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US 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: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 style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">9,984</font></b></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">27</font></b></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% 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 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: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 style="font-size:6.0pt;">2,515</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% style="border:none;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;">Customer deposits</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">944</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">976</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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;">Debt certificates</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">4,629</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 style="font-size:6.0pt;">27</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">2,858</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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 style="font-size:6.0pt;">Other financial
  liabilities</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">4,410</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">643</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 style="font-size:6.0pt;">2,515</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Derivatives &#8211; Hedge
  accounting</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">30</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">2,192</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">11</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">223</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">2,454</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">3</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=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 title="F_I_8.1_002.2017_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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=67% style="border:none;height:8.25pt;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=EN-US style="font-size:6.0pt;">&nbsp;</font></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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">2017</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 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Level 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Level 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Level 3</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=67% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=right style="border:none;margin:0cm;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 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=#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 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=#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:8.25pt;">
  <td width=67% 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=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif lang=EN-US 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:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif style="font-size:6.0pt;">29,057</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=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif style="font-size:6.0pt;">35,349</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=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif style="font-size:6.0pt;">289</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=67% style="border:none;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=EN-US style="font-size:6.0pt;">Loans and
  advances to customers</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 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 style="font-size:6.0pt;">56</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=67% 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;">Debt securities </font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:6.0pt;">1,444</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">22</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=67% 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;">Equity instruments </font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 style="font-size:6.0pt;">80</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=67% 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 style="font-size:6.0pt;">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=right style="border:none;margin: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;">1,262</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 style="font-size:6.0pt;">33,815</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 style="font-size:6.0pt;">187</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=67% 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=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif lang=EN-US 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:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif style="font-size:6.0pt;">2,061</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=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif style="font-size:6.0pt;">648</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=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=67% style="border:none;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=EN-US style="font-size:6.0pt;">Loans and
  advances to customers</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 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 style="font-size:6.0pt;">648</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=67% 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=EN-US 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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=67% 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;">Debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=67% 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 style="font-size:6.0pt;">Equity instruments</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 style="font-size:6.0pt;">1,888</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 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=67% 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=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Available-for-sale
  financial assets </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=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif style="font-size:6.0pt;">57,381</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=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif style="font-size:6.0pt;">11,082</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=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif style="font-size:6.0pt;">544</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=67% style="border:none;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;">Debt securities</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 style="font-size:6.0pt;">54,850</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 style="font-size:6.0pt;">10,948</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 style="font-size:6.0pt;">454</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=67% 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 style="font-size:6.0pt;">Equity instruments</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 style="font-size:6.0pt;">2,531</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 style="font-size:6.0pt;">134</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">90</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=67% 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=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif 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:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif style="font-size:6.0pt;">-</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=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif style="font-size:6.0pt;">2,483</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=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif style="font-size:6.0pt;">2</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=67% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=right style="border:none;margin:0cm;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 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=#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 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=#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:8.25pt;">
  <td width=67% 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=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Financial
  liabilities held for trading </font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif style="font-size:6.0pt;">11,191</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=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif style="font-size:6.0pt;">34,866</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=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif style="font-size:6.0pt;">125</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=67% style="border:none;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;">Derivatives</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 style="font-size:6.0pt;">1,183</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 style="font-size:6.0pt;">34,866</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 style="font-size:6.0pt;">119</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=67% 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 style="font-size:6.0pt;">Short positions </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 style="font-size:6.0pt;">10,008</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 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 style="font-size:6.0pt;">6</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=67% 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=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">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:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif style="font-size:6.0pt;">-</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=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif style="font-size:6.0pt;">2,222</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=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=67% 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=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif style="font-size:6.0pt;">Derivatives &#8211; Hedge
  accounting</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=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif style="font-size:6.0pt;">274</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=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif style="font-size:6.0pt;">2,606</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=#004581 face=Arial,sans-serif style="border:none;"><b><font color=#004581 face=Arial,sans-serif style="font-size:6.0pt;">-</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:avoid;text-align:justify;"><a name="XBRL_TS_d6dc592f992a4f0aa8e93fc45"></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-86</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_327"></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: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%;">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, 2019 and 2018:</font></font><a name="XBRL_TS_d6dc592f992a4f0aa8e93fc45_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_8.2_NIVELES1_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Fair value of
  financial Instruments by levels. </font></font><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:5.0pt;">December 2019
  (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=24% 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 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=15% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Level 2</font></b></font></p>
  </td>
 <td width=15% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Level 3</font></b></font></p>
  </td>
 <td width=15% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Valuation technique(s)</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Observable inputs</font></b></font></p>
  </td>
 <td width=15% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Unobservable inputs</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=24% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">ASSETS</font></b></font></p>
  </td>
 <td nowrap width=15% 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 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 nowrap width=15% 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 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 nowrap width=15% 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 face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=16% 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 face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=24% style="border:none;height:8.25pt;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=EN-US style="font-size:5.0pt;">Financial
  assets held for trading</font></b></font></p>
  </td>
 <td nowrap width=15% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">70,045</font></b></font></p>
  </td>
 <td nowrap width=15% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">1,508</font></b></font></p>
  </td>
 <td nowrap width=15% 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=#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 rowspan=2 width=16% 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=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- Current
  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 lang=EN-US style="font-size:5.0pt;">- Funding
  interest rates observed in the market or in consensus services</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:5.0pt;">- Exchange rates</font></font></p>
  </td>
 <td rowspan=2 width=15% 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=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- Funding
  interest rates not observed in the market or in consensus services</font></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td width=24% style="height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">Loans and advances</font></font></p>
  </td>
 <td width=15% style="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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">32,321</font></font></p>
  </td>
 <td width=15% style="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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1,285</font></font></p>
  </td>
 <td width=15% style="height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">(Discounted
  future cash flows)</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=24% 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:5.0pt;">Debt securities </font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">8,178</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">55</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">(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 lang=EN-US style="font-size:5.0pt;">Observed prices
  in non active markets</font></font></p>
  </td>
 <td width=16% 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=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- Current
  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:5.0pt;">- Non active markets prices</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- 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:5.0pt;">- Recovery rates</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=24% 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:5.0pt;">Equity instruments </font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">59</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">Comparable
  pricing (Observable price in a similar market)</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:5.0pt;">Present-value method</font></font></p>
  </td>
 <td width=16% 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=EN-US style="font-size:5.0pt;">- Brokers
  quotes</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=EN-US style="font-size:5.0pt;">- Market
  operations</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=EN-US style="font-size:5.0pt;">- NAVs
  published</font></font></p>
  </td>
 <td width=15% 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:5.0pt;">- NAV not published</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=24% 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:5.0pt;">Derivatives</font></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:5.0pt;">29,546</font></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:5.0pt;">109</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=16% 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 face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:49.5pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Interest rate</font></font></p>
  </td>
 <td width=15% style="border:none;height:49.5pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="border:none;height:49.5pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 style="font-size:5.0pt;">Constant Maturity
  Swaps: SABR</font></font></p>
  </td>
 <td rowspan=5 width=16% style="border:none;border-bottom:solid black 1.0pt;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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#160; Market
  listed correlations</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- interest
  rates volatility</font></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Equity</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">Equity Options:
  Local Volatility, Momentum adjustment </font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- Implicit
  dividends and long term repos</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Foreign exchange
  and gold</font></font></p>
  </td>
 <td width=15% 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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">Foreign
  exchange Options: Local volatility, moments adjustment</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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:5.0pt;">- Long term implicit
  correlations</font></font></p>
  </td>
 </tr>
<tr style="height:41.25pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Credit</font></font></p>
  </td>
 <td width=15% style="height:41.25pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="height:41.25pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">Credit
  Derivatives: Default model and Gaussian copula</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- Default
  volatility</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Commodities</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">Commodities:
  Momentum adjustment and discounted cash flows</font></font></p>
  </td>
 <td width=15% style="background:#DADADA;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap width=24% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Non-trading
  financial assets mandatorily at fair value through profit or loss</font></b></font></p>
  </td>
 <td nowrap width=15% 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:5.0pt;">92</font></b></font></p>
  </td>
 <td nowrap width=15% 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:5.0pt;">1,160</font></b></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:40.5pt;">
  <td nowrap width=24% style="border:none;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">Loans and advances</font></font></p>
  </td>
 <td width=15% style="border:none;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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td width=15% style="border:none;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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1,038</font></font></p>
  </td>
 <td width=15% style="border:none;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Specific
  liquidation criteria regarding losses of the EPA proceedings</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=EN-US style="font-size:5.0pt;">PD and LGD of
  the internal models, valuations and specific criteria of the EPA proceedings </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:5.0pt;">Discounted future
  cash flows</font></font></p>
  </td>
 <td width=16% style="background:#D9D9D9;border:none;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 style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="border:none;height:40.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- Business plan
  of the underlying asset, WACC, macro scenario</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:5.0pt;">- Property valuation</font></font></p>
  </td>
 </tr>
<tr style="height:36.0pt;">
  <td nowrap width=24% 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:5.0pt;">Debt securities</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">91</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">19</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">(Discounted
  future cash flows)</font></font></p>
  </td>
 <td width=16% 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 lang=EN-US style="font-size:5.0pt;">- Issuer 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=EN-US style="font-size:5.0pt;">- Current
  market interest rates</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- Issuer 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=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td nowrap width=24% 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:5.0pt;">Equity instruments</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">103</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">Comparable
  pricing (Observable price in a similar market)</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:5.0pt;">Present-value method</font></font></p>
  </td>
 <td width=16% 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=EN-US style="font-size:5.0pt;">- Brokers
  quotes</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=EN-US style="font-size:5.0pt;">- Market
  operations</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=EN-US style="font-size:5.0pt;">- NAVs
  published</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">- NAV provided
  by the administrator of the fund</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=24% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Financial
  assets at fair value through other comprehensive income</font></b></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:5.0pt;">9,203</font></b></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:5.0pt;">1,084</font></b></font></p>
  </td>
 <td nowrap width=15% 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=#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 nowrap width=16% 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=#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 nowrap width=15% 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=#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>
 </tr>
<tr style="height:24.75pt;">
  <td width=24% 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 style="font-size:5.0pt;">Debt securities</font></font></p>
  </td>
 <td width=15% style="border:none;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">9,057</font></font></p>
  </td>
 <td width=15% style="border:none;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">604</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">(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 lang=EN-US style="font-size:5.0pt;">Observed prices
  in non active markets</font></font></p>
  </td>
 <td width=16% 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=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- Current
  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:5.0pt;">- Non active market
  prices</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- Issuer 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=EN-US style="font-size:5.0pt;">- Recovery
  rates</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=24% 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:5.0pt;">Equity instruments</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">146</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">480</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">Comparable
  pricing (Observable price in a similar market)</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:5.0pt;">Present-value method</font></font></p>
  </td>
 <td width=16% 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=EN-US style="font-size:5.0pt;">- Brokers
  quotes</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=EN-US style="font-size:5.0pt;">- Market
  operations</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=EN-US style="font-size:5.0pt;">- NAVs
  published</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">- NAV provided
  by the administrator of the fund</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=24% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">Hedging derivatives</font></b></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:5.0pt;">1,685</font></b></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:5.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=15% 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=#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 nowrap width=16% 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=#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 nowrap width=15% 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=#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>
 </tr>
<tr style="height:49.5pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Interest rate</font></font></p>
  </td>
 <td width=15% style="border:none;height:49.5pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="border:none;height:49.5pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 style="font-size:5.0pt;">Constant maturity
  Swaps: SABR</font></font></p>
  </td>
 <td rowspan=5 width=16% style="border:none;border-bottom:solid black 1.0pt;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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#160; Market
  listed correlations</font></font></p>
  </td>
 <td width=15% style="background:#D9D9D9;border:none;height:49.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#D9D9D9 face=Arial,sans-serif style="border:none;"><font color=#D9D9D9 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Equity</font></font></p>
  </td>
 <td width=15% style="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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">Equity Options:
  Local volatility, Momentum adjustment </font></font></p>
  </td>
 <td width=15% style="background:#D9D9D9;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#D9D9D9 face=Arial,sans-serif style="border:none;"><font color=#D9D9D9 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Foreign exchange
  and gold</font></font></p>
  </td>
 <td width=15% style="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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">Foreign
  exchange Options: Local volatility, moments adjustment</font></font></p>
  </td>
 <td width=15% style="background:#D9D9D9;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#D9D9D9 face=Arial,sans-serif style="border:none;"><font color=#D9D9D9 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=24% 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:5.0pt;">Credit</font></font></p>
  </td>
 <td width=15% 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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">Credit
  Derivatives: Default model and Gaussian copula</font></font></p>
  </td>
 <td width=15% style="background:#D9D9D9;height:8.25pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#D9D9D9 face=Arial,sans-serif style="border:none;"><font color=#D9D9D9 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Commodities</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">Commodities:
  Momentum adjustment and Discounted cash flows</font></font></p>
  </td>
 <td width=15% style="background:#D9D9D9;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=#D9D9D9 face=Arial,sans-serif style="border:none;"><font color=#D9D9D9 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&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>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_8.2_NIVELES2_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Fair Value of financial Instruments by Levels. </font></font><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:5.0pt;">December 2019 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=24% style="border:none;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;"><b><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td rowspan=2 width=15% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Level 2</font></b></font></p>
  </td>
 <td rowspan=2 width=15% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Level 3</font></b></font></p>
  </td>
 <td rowspan=2 width=15% 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 style="font-size:5.0pt;">Valuation technique(s)</font></b></font></p>
  </td>
 <td rowspan=2 width=16% 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 style="font-size:5.0pt;">Observable inputs</font></b></font></p>
  </td>
 <td rowspan=2 width=15% 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 style="font-size:5.0pt;">Unobservable inputs</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=24% 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 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=24% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=15% 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 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 nowrap width=15% 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 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 nowrap width=15% 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=#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 nowrap width=16% 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=#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 nowrap width=15% 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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=24% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Financial
  liabilities held for trading </font></b></font></p>
  </td>
 <td width=15% 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 style="font-size:5.0pt;">62,541</font></b></font></p>
  </td>
 <td width=15% 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 style="font-size:5.0pt;">827</font></b></font></p>
  </td>
 <td nowrap width=15% 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=#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 nowrap width=16% 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=#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 nowrap width=15% 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=#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>
 </tr>
<tr style="height:42.75pt;">
  <td width=24% style="border:none;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">Deposits</font></font></p>
  </td>
 <td width=15% style="border:none;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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">32,121</font></font></p>
  </td>
 <td width=15% style="border:none;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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">649</font></font></p>
  </td>
 <td width=15% style="border:none;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">(Discounted
  future cash flows)</font></font></p>
  </td>
 <td width=16% style="border:none;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- Funding
  interest rates observed in the market or in consensus services</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:5.0pt;">-&#160; Exchange rates</font></font></p>
  </td>
 <td width=15% style="border:none;height:42.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">- Funding
  interest rates not observed in the market or in consensus services</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=24% 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:5.0pt;">Derivatives</font></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:5.0pt;">30,419</font></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:5.0pt;">175</font></font></p>
  </td>
 <td width=15% style="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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=16% style="background:#DADADA;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="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:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:49.5pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Interest rate</font></font></p>
  </td>
 <td width=15% style="height:49.5pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="height:49.5pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 style="font-size:5.0pt;">Constant Maturity
  Swaps: SABR</font></font></p>
  </td>
 <td rowspan=5 width=16% 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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#160; Market
  listed correlations</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- Interest
  rates volatility</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Equity</font></font></p>
  </td>
 <td width=15% style="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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">Equity Options:
  Local volatility, momentum adjustment </font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- Assets
  correlation</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Foreign exchange
  and gold</font></font></p>
  </td>
 <td width=15% style="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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">Foreign
  exchange Options: Local volatility, moments adjustment</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- Assets
  correlation</font></font></p>
  </td>
 </tr>
<tr style="height:41.25pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Credit</font></font></p>
  </td>
 <td width=15% style="height:41.25pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="height:41.25pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">Credit
  Derivatives: Default model and Gaussian copula</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- Default
  volatility</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=24% 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:5.0pt;">Commodities</font></font></p>
  </td>
 <td width=15% 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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">Commodities:
  Momentum adjustment and discounted cash flows</font></font></p>
  </td>
 <td width=15% style="background:#DADADA;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 lang=EN-US style="font-size:5.0pt;">&nbsp;</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 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">Short positions </font></font></p>
  </td>
 <td nowrap width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td nowrap width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">2</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">(Discounted
  future cash flows)</font></font></p>
  </td>
 <td width=16% style="background:#DADADA;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- 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:5.0pt;">- Current market
  interest rates</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=24% 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=EN-US style="font-size:5.0pt;">Financial
  liabilities designated at fair value through profit or loss</font></b></font></p>
  </td>
 <td nowrap width=15% 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:5.0pt;">9,984</font></b></font></p>
  </td>
 <td nowrap width=15% 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:5.0pt;">27</font></b></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">(Discounted
  future cash flows)</font></font></p>
  </td>
 <td width=16% 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=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- 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:5.0pt;">- Current market
  interest rates</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- 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:5.0pt;">- Current market
  interest rates</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=24% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">Derivatives &#8211; Hedge
  accounting</font></b></font></p>
  </td>
 <td width=15% 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 style="font-size:5.0pt;">2,192</font></b></font></p>
  </td>
 <td width=15% 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 style="font-size:5.0pt;">11</font></b></font></p>
  </td>
 <td nowrap width=15% 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=#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 nowrap width=16% 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=#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 nowrap width=15% 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=#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>
 </tr>
<tr style="height:49.5pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Interest rate</font></font></p>
  </td>
 <td width=15% style="border:none;height:49.5pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="border:none;height:49.5pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 style="font-size:5.0pt;">Constant Maturity
  Swaps: SABR</font></font></p>
  </td>
 <td rowspan=5 width=16% style="border:none;border-bottom:solid black 1.0pt;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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#160; Market
  listed correlations</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- interest
  rates volatility</font></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Equity</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">Equity Options:
  Local volatility, momentum adjustment </font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- Implicit
  dividends and long term repos</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Foreign exchange
  and gold</font></font></p>
  </td>
 <td width=15% 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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">Foreign
  exchange Options: Local Volatility, moments adjustment</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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:5.0pt;">- Long term implicit
  correlations</font></font></p>
  </td>
 </tr>
<tr style="height:41.25pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Credit</font></font></p>
  </td>
 <td width=15% style="height:41.25pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="height:41.25pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">Credit
  Derivatives: Default model and Gaussian copula</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- Default
  volatility</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Commodities</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">Commodities:
  Momentum adjustment and discounted cash flows</font></font></p>
  </td>
 <td width=15% style="background:#DADADA;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
</table></div>



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<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_8.2_NIVELES3_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:9.75pt;">
  <td colspan=6 nowrap width=100% style="background:#E9E9E9;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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Fair Value of financial Instruments by Levels. </font></font><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:5.0pt;">December 2018 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td width=24% 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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=15% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Level 2</font></b></font></p>
  </td>
 <td width=15% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Level 3</font></b></font></p>
  </td>
 <td width=15% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Valuation technique(s)</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Observable inputs</font></b></font></p>
  </td>
 <td width=15% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Unobservable inputs</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=24% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">ASSETS</font></b></font></p>
  </td>
 <td nowrap width=15% 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=#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 nowrap width=15% 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=#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 nowrap width=15% 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 face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=16% 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 face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=24% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Financial
  assets held for trading</font></b></font></p>
  </td>
 <td nowrap width=15% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">62,983</font></b></font></p>
  </td>
 <td nowrap width=15% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">404</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;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:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td rowspan=2 width=16% 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=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- Current
  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 lang=EN-US style="font-size:5.0pt;">- Funding
  interest rates observed in the market or in consensus services</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:5.0pt;">- Exchange rates</font></font></p>
  </td>
 <td rowspan=2 width=15% 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=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- 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:5.0pt;">- Recovery rates</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=24% 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 style="font-size:5.0pt;">Loans and advances</font></font></p>
  </td>
 <td width=15% 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 style="font-size:5.0pt;">28,642</font></font></p>
  </td>
 <td width=15% 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 style="font-size:5.0pt;">60</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">(Discounted
  future cash flows)</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=24% 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:5.0pt;">Debt securities </font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">7,494</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">199</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">(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 lang=EN-US style="font-size:5.0pt;">Observed prices
  in non active markets</font></font></p>
  </td>
 <td width=16% 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=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- Current
  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:5.0pt;">- Non active markets
  prices</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- 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:5.0pt;">- Recovery rates</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=24% 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:5.0pt;">Equity instruments </font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">60</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">Comparable
  pricing (Observable price in a similar market)</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:5.0pt;">Present-value method</font></font></p>
  </td>
 <td width=16% 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=EN-US style="font-size:5.0pt;">- Brokers
  quotes</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=EN-US style="font-size:5.0pt;">- Market
  operations</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=EN-US style="font-size:5.0pt;">- NAVs
  published</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">- NAV provided
  by the administrator of the funds</font></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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">Derivatives</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">26,846</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">85</font></font></p>
  </td>
 <td width=15% 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:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=16% 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:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=15% 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:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:66.0pt;">
  <td nowrap width=24% style="height:66.0pt;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:5.0pt;">Interest rate</font></font></p>
  </td>
 <td width=15% style="height:66.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="height:66.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="border:none;height:66.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 style="font-size:5.0pt;">Constant Maturity
  Swaps: SABR</font></font></p>
  </td>
 <td rowspan=5 width=16% style="border:none;border-bottom:solid black 1.0pt;height:66.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#160; Market
  listed correlations</font></font></p>
  </td>
 <td width=15% style="border:none;height:66.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- interest
  rates volatility</font></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Equity</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">Equity Options:
  Local Volatility, Momentum adjustment </font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- Implicit
  dividends and long term repos</font></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Foreign exchange
  and gold</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">Foreign
  exchange Options: Local volatility, moments adjustment</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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:5.0pt;">- Long term implicit
  correlations</font></font></p>
  </td>
 </tr>
<tr style="height:41.25pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Credit</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">Credit
  Derivatives: Default model and Gaussian copula</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- Default
  volatility</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap width=24% style="border:none;border-bottom:solid black 1.0pt;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 style="font-size:5.0pt;">Commodities</font></font></p>
  </td>
 <td width=15% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Commodities:
  Momentum adjustment and discounted cash flows</font></font></p>
  </td>
 <td width=15% style="background:#DADADA;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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=24% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Non-trading
  financial assets mandatorily at fair value through profit or loss</font></b></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:5.0pt;">78</font></b></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:5.0pt;">1,929</font></b></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td nowrap width=24% style="border:none;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:5.0pt;">Loans and advances</font></font></p>
  </td>
 <td width=15% style="border:none;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:5.0pt;">-</font></font></p>
  </td>
 <td width=15% style="border:none;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:5.0pt;">1,778</font></font></p>
  </td>
 <td width=15% style="border:none;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=EN-US style="font-size:5.0pt;">-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 lang=EN-US style="font-size:5.0pt;">(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 lang=EN-US style="font-size:5.0pt;">Specific
  criteria for the liquidation of losses established by the EPA protocol</font></font></p>
  </td>
 <td width=16% style="background:#D9D9D9;border:none;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 lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="border:none;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=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- Issuer 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=EN-US style="font-size:5.0pt;">- 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:5.0pt;">- PD and LGD</font></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td nowrap width=24% 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:5.0pt;">Debt securities</font></font></p>
  </td>
 <td width=15% 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:5.0pt;">71</font></font></p>
  </td>
 <td width=15% 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:5.0pt;">76</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">(Discounted
  future cash flows)</font></font></p>
  </td>
 <td width=16% 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 lang=EN-US style="font-size:5.0pt;">- Issuer 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=EN-US style="font-size:5.0pt;">- Current
  market interest rates</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- Issuer 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=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">&nbsp;</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 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">Equity instruments</font></font></p>
  </td>
 <td width=15% 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 style="font-size:5.0pt;">8</font></font></p>
  </td>
 <td width=15% 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 style="font-size:5.0pt;">75</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">(Discounted
  future cash flows)</font></font></p>
  </td>
 <td width=16% 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=EN-US style="font-size:5.0pt;">- Issuer 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=EN-US style="font-size:5.0pt;">- Current
  market interest rates</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- Issuer 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=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=24% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Financial
  assets at fair value through other comprehensive income</font></b></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:5.0pt;">9,323</font></b></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:5.0pt;">1,190</font></b></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=24% 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 style="font-size:5.0pt;">Debt securities</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">9,211</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">711</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">(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 lang=EN-US style="font-size:5.0pt;">Observed prices
  in non active markets</font></font></p>
  </td>
 <td width=16% 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=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- Current
  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:5.0pt;">- Non active market
  prices</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- Issuer 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=EN-US style="font-size:5.0pt;">- Recovery
  rates</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=24% 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:5.0pt;">Equity instruments</font></font></p>
  </td>
 <td width=15% 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:5.0pt;">113</font></font></p>
  </td>
 <td width=15% 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:5.0pt;">479</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">Comparable
  pricing (Observable price in a similar market)</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:5.0pt;">Present-value method</font></font></p>
  </td>
 <td width=16% 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=EN-US style="font-size:5.0pt;">- Brokers
  quotes</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=EN-US style="font-size:5.0pt;">- Market
  operations</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=EN-US style="font-size:5.0pt;">- NAVs
  published</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">- NAV provided
  by the administrator of the fund</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">Hedging derivatives</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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;">2,882</font></b></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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;">3</font></b></font></p>
  </td>
 <td nowrap width=15% 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=#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 nowrap width=16% 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=#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 nowrap width=15% 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=#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>
 </tr>
<tr style="height:66.0pt;">
  <td nowrap width=24% style="border:none;height:66.0pt;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:5.0pt;">Interest rate</font></font></p>
  </td>
 <td width=15% style="border:none;height:66.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="border:none;height:66.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="border:none;height:66.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 style="font-size:5.0pt;">Constant maturity
  Swaps: SABR</font></font></p>
  </td>
 <td rowspan=5 width=16% style="border:none;height:66.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#160; Market
  listed correlations</font></font></p>
  </td>
 <td width=15% style="background:#D9D9D9;border:none;height:66.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#D9D9D9 face=Arial,sans-serif style="border:none;"><font color=#D9D9D9 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Equity</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">Equity Options:
  Local volatility, Momentum adjustment </font></font></p>
  </td>
 <td width=15% style="background:#D9D9D9;height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#D9D9D9 face=Arial,sans-serif style="border:none;"><font color=#D9D9D9 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Foreign exchange
  and gold</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">Foreign
  exchange Options: Local volatility, moments adjustment</font></font></p>
  </td>
 <td width=15% style="background:#D9D9D9;height:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#D9D9D9 face=Arial,sans-serif style="border:none;"><font color=#D9D9D9 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Credit</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">Credit
  Derivatives: Default model and Gaussian copula</font></font></p>
  </td>
 <td width=15% style="background:#D9D9D9;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#D9D9D9 face=Arial,sans-serif style="border:none;"><font color=#D9D9D9 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Commodities</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">Commodities:
  Momentum adjustment and Discounted cash flows</font></font></p>
  </td>
 <td width=15% style="background:#D9D9D9;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#D9D9D9 face=Arial,sans-serif style="border:none;"><font color=#D9D9D9 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&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>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_8.2_NIVELES4_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Fair Value of financial Instruments by Levels. </font></font><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:5.0pt;">December 2018 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=24% 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;"><b><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td rowspan=2 width=15% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Level 2</font></b></font></p>
  </td>
 <td rowspan=2 width=15% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Level 3</font></b></font></p>
  </td>
 <td rowspan=2 width=15% 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 style="font-size:5.0pt;">Valuation technique(s)</font></b></font></p>
  </td>
 <td rowspan=2 width=16% 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 style="font-size:5.0pt;">Observable inputs</font></b></font></p>
  </td>
 <td rowspan=2 width=15% 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 style="font-size:5.0pt;">Unobservable inputs</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=24% 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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:5.0pt;">&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=#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 nowrap width=15% 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;"><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Financial
  liabilities held for trading </font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">57,573</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">269</font></b></font></p>
  </td>
 <td nowrap width=15% 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=#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 nowrap width=16% 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=#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 nowrap width=15% 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=#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>
 </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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">Deposits</font></font></p>
  </td>
 <td width=15% 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 style="font-size:5.0pt;">29,945</font></font></p>
  </td>
 <td width=15% 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 style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td width=15% 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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=16% 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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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:5.0pt;">&nbsp;</font></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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">Derivatives</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">27,628</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">267</font></font></p>
  </td>
 <td width=15% 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;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=16% style="background:#DADADA;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:66.0pt;">
  <td nowrap width=24% style="height:66.0pt;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:5.0pt;">Interest rate</font></font></p>
  </td>
 <td width=15% style="height:66.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="height:66.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin: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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="height:66.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 style="font-size:5.0pt;">Constant Maturity
  Swaps: SABR</font></font></p>
  </td>
 <td rowspan=5 width=16% style="height:66.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#160; Market
  listed correlations</font></font></p>
  </td>
 <td width=15% style="height:66.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- Interest
  rates volatility</font></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Equity</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">Equity Options:
  Local volatility, momentum adjustment </font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- Assets
  correlation</font></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Foreign exchange
  and gold</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">Foreign
  exchange Options: Local volatility, moments adjustment</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- Assets
  correlation</font></font></p>
  </td>
 </tr>
<tr style="height:41.25pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Credit</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">Credit
  Derivatives: Default model and Gaussian copula</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- Default
  volatility</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Commodities</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">Commodities:
  Momentum adjustment and discounted cash flows</font></font></p>
  </td>
 <td width=15% style="background:#DADADA;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=EN-US style="font-size:5.0pt;">&nbsp;</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 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">Short positions </font></font></p>
  </td>
 <td nowrap width=15% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:5.0pt;">1</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">(Discounted
  future cash flows)</font></font></p>
  </td>
 <td width=16% style="background:#D9D9D9;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 lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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:5.0pt;">- Interest rate yield</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=24% 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=EN-US style="font-size:5.0pt;">Financial
  liabilities designated at fair value through profit or loss</font></b></font></p>
  </td>
 <td nowrap width=15% 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:5.0pt;">4,478</font></b></font></p>
  </td>
 <td nowrap width=15% 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:5.0pt;">2,515</font></b></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">(Discounted
  future cash flows)</font></font></p>
  </td>
 <td width=16% 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=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- 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:5.0pt;">- Current market
  interest rates</font></font></p>
  </td>
 <td width=15% 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=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- 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:5.0pt;">- Current market
  interest rates</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:5.0pt;">Derivatives &#8211; Hedge
  accounting</font></b></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=right style="border:none;margin:0cm;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;">2,454</font></b></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=right style="border:none;margin:0cm;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;">3</font></b></font></p>
  </td>
 <td nowrap width=15% 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=#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 nowrap width=16% 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=#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 nowrap width=15% 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=#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>
 </tr>
<tr style="height:74.25pt;">
  <td nowrap width=24% style="border:none;height:74.25pt;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:5.0pt;">Interest rate</font></font></p>
  </td>
 <td width=15% style="border:none;height:74.25pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="border:none;height:74.25pt;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% style="border:none;height:74.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">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 style="font-size:5.0pt;">Constant Maturity
  Swaps: SABR</font></font></p>
  </td>
 <td rowspan=5 width=16% style="border:none;height:74.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#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 lang=EN-US style="font-size:5.0pt;">-&#160; Market
  listed correlations</font></font></p>
  </td>
 <td width=15% style="border:none;height:74.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- interest
  rates volatility</font></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Equity</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">Equity Options:
  Local volatility, momentum adjustment </font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- Implicit
  dividends and long term repos</font></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Foreign exchange
  and gold</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">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 lang=EN-US style="font-size:5.0pt;">Foreign
  exchange Options: Local Volatility, moments adjustment</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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:5.0pt;">- Long term implicit
  correlations</font></font></p>
  </td>
 </tr>
<tr style="height:41.25pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Credit</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">Credit
  Derivatives: Default model and Gaussian copula</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- 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=EN-US style="font-size:5.0pt;">- 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 lang=EN-US style="font-size:5.0pt;">- Default
  volatility</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap width=24% 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 style="font-size:5.0pt;">Commodities</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=15% 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 lang=EN-US style="font-size:5.0pt;">Commodities:
  Momentum adjustment and discounted cash flows</font></font></p>
  </td>
 <td width=15% style="background:#DADADA;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=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
</table></div>



<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>

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</DIV>
<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;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:8.0pt;line-height:115%;">Main valuation techniques</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The net
present value (net present value method): This technique uses the future cash
flows of each financial instrument, 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:2.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><font color=#0070C0 face=Symbol style="border:none;"><font color=#0070C0 face=Symbol lang=EN-US style="font-size:8.0pt;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;&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:8.0pt;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:2.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><font color=#0070C0 face=Symbol style="border:none;"><font color=#0070C0 face=Symbol lang=EN-US style="font-size:8.0pt;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;&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:8.0pt;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:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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>

<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 style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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><a name="XBRL_TS_78031854265f4bdab43caf4b3_bclEnd"></a></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="XBRL_TS_ae0a7972a81b4168bb3199228"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Adjustments to
the valuation for risk of default</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:8.0pt;">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 observable data of probabilities of
default and recoveries 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:8.0pt;line-height:115%;">These adjustments are calculated by
estimating Exposure At Default, Probability of Default and Loss Given Default,
which are based on the recovery levels for all derivative products on any
instrument, deposits and repos 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:8.0pt;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:8.0pt;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>


<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-91</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_332"></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:8.0pt;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:8.0pt;line-height:115%;">The amounts recognized in the
consolidated balance sheet as of December 31, 2019 and 2018 related to the
valuation adjustments to the credit assessment of the derivative asset as
&#8220;Credit Valuation Adjustments&#8221; (&#8220;CVA&#8221;) was &#8364;-106 and &#8364;-163 million
respectively, and the valuation adjustments to the derivative liabilities as
&#8220;Debit Valuation Adjustment&#8221; (DVA) was &#8364;117 million and &#8364;214 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 of December, 2019 and 2018&#160; corresponding to the mentioned
adjustments was a net impact of &#8364;67 million and &#8364;-24 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:8.0pt;line-height:115%;">Additionally, as of December, 2019
and 2018, &#8364;-8 and &#8364;-12 million related to the &#8220;Funding Valuation Adjustments&#8221;
(&#8220;FVA&#8221;) were recognized in the consolidated balance sheet, being the impact on
results &#8364;4 million and &#8364;-2 million, respectively.</font></font><a name="XBRL_TS_ae0a7972a81b4168bb3199228_bclEnd"></a></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="XBRL_TS_7496590a4afe48c4af724448e"></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:8.0pt;">Unobservable inputs</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Quantitative information of unobservable inputs used to calculate
Level 3 valuations is presented below as of December 31, 2019 and 2018:</font></font><a name="XBRL_TS_7496590a4afe48c4af724448e_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:8.0pt;line-height:115%;">December 31, 2019:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_8.2_001_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:27.0pt;">
  <td width=22% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Financial instrument</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Valuation technique(s)</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Significant unobservable inputs</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Min</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Average</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Max</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Units</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=22% 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;">Loans and advances
  (*)</font></font></p>
  </td>
 <td width=13% 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;">Present value method</font></font></p>
  </td>
 <td width=13% 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;">Repo funding curve</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">(6)</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">16</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">100</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">b.p</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td rowspan=3 width=22% 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;">Debt securities</font></font></p>
  </td>
 <td rowspan=2 width=13% 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;">Net present&#160; value</font></font></p>
  </td>
 <td width=13% 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;">Credit spread</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">18</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">83</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">504</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">b.p</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=13% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Recovery rate</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.00%</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">28.38%</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">40.00%</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">%</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td width=13% 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:8.0pt;">Comparable pricing</font></font></p>
  </td>
 <td width=13% style="background:#E9E9E9;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 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 width=13% 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 style="font-size:8.0pt;">0.01%</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">98.31%</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">135.94%</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">%</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td rowspan=2 width=22% 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:8.0pt;">Equity instruments
  (**)</font></font></p>
  </td>
 <td width=13% 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;">Net&#160; asset Value</font></font></p>
  </td>
 <td width=13% style="background:#E9E9E9;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=4 rowspan=2 width=52% style="background:#E9E9E9;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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=13% 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:8.0pt;">Comparable pricing</font></font></p>
  </td>
 <td width=13% style="background:#E9E9E9;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=22% 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:8.0pt;">Credit option</font></font></p>
  </td>
 <td width=13% 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:8.0pt;">Gaussian Copula</font></font></p>
  </td>
 <td width=13% 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:8.0pt;">Correlation default</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">19.37%</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">44.33%</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">61.08%</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=22% 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;">Corporate Bond option</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 style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Black 76</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 style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Price volatility</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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=center style="border:none;margin: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;">Vegas</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td rowspan=3 width=22% 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;">Equity OTC option</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">Heston</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">Forward volatility
  skew</font></font></p>
  </td>
 <td width=13% style="border:none;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">35.12</font></font></p>
  </td>
 <td width=13% style="border:none;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">35.12</font></font></p>
  </td>
 <td width=13% style="border:none;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">35.12</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">Vegas</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td rowspan=2 width=13% 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;">Local volatility</font></font></p>
  </td>
 <td width=13% 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;">Dividends (***)</font></font></p>
  </td>
 <td colspan=4 width=52% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=13% 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;">Volatility</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">2.49</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">23.21</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">60.90</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">Vegas</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=22% 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;">FX OTC options</font></font></p>
  </td>
 <td width=13% 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;">Black Scholes/Local
  Vol</font></font></p>
  </td>
 <td width=13% 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;">Volatility</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">3.70</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">6.30</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">10.05</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">Vegas</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td rowspan=3 width=22% 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;">Interest rate options</font></font></p>
  </td>
 <td rowspan=3 width=13% 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;">Libor Market Model</font></font></p>
  </td>
 <td width=13% 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;">Beta</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">0.25</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">2.00</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">18.00</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">%</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=13% 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;">Correlation
  rate/Credit</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">(100)</font></font></p>
  </td>
 <td width=13% style="background:#E9E9E9;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">100</font></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=13% 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;">Credit default
  Volatility</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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=center style="border:none;margin: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;">Vegas</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;page-break-after:avoid;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_TS_7e9f4db5fbbd460a8dceec1ea"></a><a name="XBRL_FS_e9910816eddf46e6961ef0874"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*)&#160;&#160; Other valuation
techniques such as specific liquidation criteria regarding losses of the EPA
proceedings, PD and LGD of the internal models, valuations and specific criteria
of the EPA proceedings or Discounted future cash flows are used for specific
financial instruments.</font></font><a name="XBRL_FS_e9910816eddf46e6961ef0874_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;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:6.0pt;">(**)&#160;
Due to the diversity of valuation models of equity instruments, we don&#8217;t
include all the unobservable inputs or the quantitative ranges of them.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;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:6.0pt;">(***)
The range of non-observable dividends has too wide range to be relevant.</font></font><a name="XBRL_TS_7e9f4db5fbbd460a8dceec1ea_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;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:6.0pt;">&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-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%;">December 31, 2018:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_8.2_001b_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:22.5pt;">
  <td width=23% 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Financial instrument</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Significant unobservable inputs</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:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Average</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:22.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Units</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td rowspan=3 width=23% 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;">Debt securities</font></font></p>
  </td>
 <td rowspan=2 width=19% 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;">Net present&#160; value</font></font></p>
  </td>
 <td width=18% 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;">Credit spread</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">37</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">152.22</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">385.00</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">b.p.</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=18% 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;">Recovery rate</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 style="font-size:8.0pt;">0.00%</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 style="font-size:8.0pt;">32.06%</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 style="font-size:8.0pt;">40.00%</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 style="font-size:8.0pt;">%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">Comparable pricing</font></font></p>
  </td>
 <td width=18% style="background:#E9E9E9;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 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 style="font-size:8.0pt;">1.00%</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 style="font-size:8.0pt;">88.00%</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 style="font-size:8.0pt;">275.00%</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 style="font-size:8.0pt;">%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td rowspan=2 width=23% 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;">Equity instruments</font></font></p>
  </td>
 <td width=19% 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;">Net&#160; asset Value</font></font></p>
  </td>
 <td width=18% style="background:#E9E9E9;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=4 rowspan=2 width=40% style="background:#E9E9E9;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">Comparable pricing</font></font></p>
  </td>
 <td width=18% style="background:#E9E9E9;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>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=23% 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;">Credit option</font></font></p>
  </td>
 <td width=19% 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;">Gaussian Copula</font></font></p>
  </td>
 <td width=18% 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;">Correlation default</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 style="font-size:8.0pt;">0.00%</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 style="font-size:8.0pt;">37.98%</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 style="font-size:8.0pt;">60.26%</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 style="font-size:8.0pt;">%</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=top width=23% 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;">Corporate Bond option</font></font></p>
  </td>
 <td width=19% 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;">Black 76</font></font></p>
  </td>
 <td width=18% 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;">Price volatility</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">Vegas</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td rowspan=3 width=23% 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;">Equity OTC option</font></font></p>
  </td>
 <td width=19% 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;">Heston</font></font></p>
  </td>
 <td width=18% 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;">Forward volatility
  skew</font></font></p>
  </td>
 <td width=10% style="height:12.75pt;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 style="font-size:8.0pt;">47.05</font></font></p>
  </td>
 <td width=10% style="height:12.75pt;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 style="font-size:8.0pt;">47.05</font></font></p>
  </td>
 <td width=10% style="height:12.75pt;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 style="font-size:8.0pt;">47.05</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 style="font-size:8.0pt;">Vegas</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td rowspan=2 width=19% 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;">Local volatility</font></font></p>
  </td>
 <td width=18% 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;">Dividends</font></font></p>
  </td>
 <td colspan=4 width=40% style="background:#E9E9E9;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=18% 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;">Volatility</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 style="font-size:8.0pt;">13.79</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 style="font-size:8.0pt;">27.24</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 style="font-size:8.0pt;">65.02</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 style="font-size:8.0pt;">Vegas</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=23% 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;">FX OTC options</font></font></p>
  </td>
 <td width=19% 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;">Black Scholes/Local
  Vol</font></font></p>
  </td>
 <td width=18% 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;">Volatility</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 style="font-size:8.0pt;">5.05</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 style="font-size:8.0pt;">7.73</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 style="font-size:8.0pt;">9.71</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 style="font-size:8.0pt;">Vegas</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=23% 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;">Interest rate options</font></font></p>
  </td>
 <td width=19% 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;">Libor Market Model</font></font></p>
  </td>
 <td width=18% 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;">Beta</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 style="font-size:8.0pt;">0.25</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 style="font-size:8.0pt;">9.00</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 style="font-size:8.0pt;">18.00</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 style="font-size:8.0pt;">%</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-92</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_333"></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;"><a name="XBRL_TS_fdf16fafca3e484bb2bd44bdb"></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:8.0pt;">Financial assets and liabilities classified as Level 3</font></b></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:8.0pt;line-height:115%;">The changes
in the balance of Level 3 financial assets and liabilities included in the
accompanying consolidated balance sheets are as follows:</font></font><a name="XBRL_TS_fdf16fafca3e484bb2bd44bdb_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_8.1_013_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Financial
  assets Level 3: Changes in the year (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=36% 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 lang=EN-US 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=36% 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 style="font-size:9.0pt;">&nbsp;</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Liabilities</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Assets</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Liabilities</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=36% style="background:#5AC4C4;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;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">3,527</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">2,787</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">835</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">125</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">822</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">116</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=36% 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;">Group additions</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 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 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 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=36% 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=EN-US style="font-size:8.0pt;">Changes in fair
  value recognized in profit and loss (*)</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 style="font-size:8.0pt;">112</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 style="font-size:8.0pt;">44</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 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 style="font-size:8.0pt;">(95)</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">(24)</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">(21)</font></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td width=36% 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 lang=EN-US style="font-size:8.0pt;">Changes in fair
  value not recognized in profit and loss</font></font></p>
  </td>
 <td nowrap width=11% style="height:23.25pt;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 style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="height:23.25pt;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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:23.25pt;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 style="font-size:8.0pt;">(4)</font></font></p>
  </td>
 <td nowrap width=11% style="height:23.25pt;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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="height:23.25pt;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 style="font-size:8.0pt;">(45)</font></font></p>
  </td>
 <td nowrap width=10% style="height:23.25pt;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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=36% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Acquisitions,
  disposals and liquidations (**)</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 style="font-size:8.0pt;">5</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 style="font-size:8.0pt;">595</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 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 style="font-size:8.0pt;">2,710</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">32</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">320</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=36% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 transfers to
  Level 3</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 style="font-size:8.0pt;">77</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 style="font-size:8.0pt;">(2,751)</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 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 style="font-size:8.0pt;">47</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">106</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">(39)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=36% 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;">Exchange differences
  and others</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 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 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 style="font-size:8.0pt;">189</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 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">(55)</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">(250)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=36% style="background:#5AC4C4;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;">Balance at the end</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">3,753</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">865</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">3,527</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">2,787</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">835</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">125</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:21.25pt;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_TS_6a8441be9ed34351b6c13b88f"></a><a name="XBRL_FS_81ffcc910b4f4a8d9fa2388e6"></a><a name="XBRL_FS_abd50ee9a4074c49bb95fa029"></a><a name="XBRL_FS_b237caddc3524627810257f12"></a><a name="XBRL_FS_d0dff11d58f64097b4e0f79fa"></a><a name="XBRL_FS_b7ea118c016a42678c63d4bb9"></a><a name="XBRL_FS_4fdc533ea26747b7aacf19372"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*)&#160;&#160;&#160; Profit or loss that is
attributable to gains or losses relating to those financial assets and
liabilities held as of December 31, 2019, 2018 and 2017. Valuation adjustments
are recorded under the heading &#8220;Gains (losses) on financial assets and
liabilities (net)&#8221;.</font></font><a name="XBRL_FS_4fdc533ea26747b7aacf19372_bclEnd"></a><a name="XBRL_FS_81ffcc910b4f4a8d9fa2388e6_bclEnd"></a><a name="XBRL_FS_abd50ee9a4074c49bb95fa029_bclEnd"></a><a name="XBRL_FS_b237caddc3524627810257f12_bclEnd"></a><a name="XBRL_FS_b7ea118c016a42678c63d4bb9_bclEnd"></a><a name="XBRL_FS_d0dff11d58f64097b4e0f79fa_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:21.25pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_bfe078e3557f442f9115b9375"></a><a name="XBRL_FS_58c3fddc912d4f8cb5e76fc85"></a><a name="XBRL_FS_932f22a3619c4b61bf3317953"></a><a name="XBRL_FS_0691b8ad8f294596a9b56c6d3"></a><a name="XBRL_FS_fa27f2322ddb41b78d23a97ef"></a><a name="XBRL_FS_a7c4b49753b74d05a83b692b8"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(**)&#160;&#160; Of which, in 2019, the
assets roll forward is comprised of &#8364;1,525 million of acquisitions, &#8364;1,102
million of disposals and &#8364;417 million of liquidations. The liabilities roll
forward is comprised of &#8364;858 million of acquisitions, &#8364;53 million of sales and
&#8364;210 million of liquidations.</font></font><a name="XBRL_FS_0691b8ad8f294596a9b56c6d3_bclEnd"></a><a name="XBRL_FS_58c3fddc912d4f8cb5e76fc85_bclEnd"></a><a name="XBRL_FS_932f22a3619c4b61bf3317953_bclEnd"></a><a name="XBRL_FS_a7c4b49753b74d05a83b692b8_bclEnd"></a><a name="XBRL_FS_bfe078e3557f442f9115b9375_bclEnd"></a><a name="XBRL_FS_fa27f2322ddb41b78d23a97ef_bclEnd"></a><a name="XBRL_TS_6a8441be9ed34351b6c13b88f_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_73e07196e1734d1da53512d6e"></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%;">During 2019,
certain </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">interest rate yields</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> have been adapted to those observable in the market, which mainly
affects the valuation of certain deposit classes recorded under &#8220;Financial
liabilities at amortized cost&#8221; and certain insurance products recorded under
&#8220;Financial liabilities designated at fair value through profit or loss - Other
financial liabilities&#8221;, and, a result thereof, their classification as
instruments has changed from Level 3 to Level 2. </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Additionally, in Level 3, &#8364;1,285 million in assets held for
trading and &#8364;649 in liabilities held for trading have been classified, mainly
due to certain reverse repurchase and repurchase agreements, due to the non-observability
and liquidity in the interest rate yield for the financing of assets applied in
the calculation of its fair value.</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:8.0pt;line-height:115%;">As of December 31, 2019, 2018 and 2017, 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>

<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=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">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:8.0pt;line-height:115%;">The Global Valuation Area, in
collaboration with the Group, has established the rules for a proper financial
instruments held for trading classification according to the fair value
hierarchy defined by IFRS.</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:8.0pt;line-height:115%;">On a monthly basis, any new assets
added to the portfolio are classified, according to this criterion, by the
subsidiaries. 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;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%;">The
financial instruments transferred between the different levels of measurement for
the year ended December 31, 2019 and 2018, are at the following amounts in the
accompanying consolidated balance sheets as of December 31, 2019 and 2018:</font></font><a name="XBRL_TS_73e07196e1734d1da53512d6e_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_8.1_014_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Transfer
  between Levels. December 2019 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=26% 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 lang=EN-US style="font-size:6.0pt;">&nbsp;</font></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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">From:</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Level 1</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Level 2</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Level 3</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap valign=bottom width=26% 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 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=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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">To:</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Level 3</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Level 3</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Level2</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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: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 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 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 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 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 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 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 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 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 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 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 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>
 </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=EN-US style="font-size:6.0pt;">Financial
  assets held for trading</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=EN-US 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 style="font-size:6.0pt;">74</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">1,119</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 style="font-size:6.0pt;">502</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 style="font-size:6.0pt;">1</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 style="font-size:6.0pt;">160</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 lang=EN-US style="font-size:6.0pt;">Non-trading
  financial assets mandatorily at fair value through profit or loss</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">23</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 style="font-size:6.0pt;">2</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">44</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 lang=EN-US style="font-size:6.0pt;">Financial
  assets designated at fair value through profit or loss</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">1</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 style="font-size:6.0pt;">-</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 lang=EN-US style="font-size:6.0pt;">Financial
  assets at fair value through other comprehensive income</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</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 style="font-size:6.0pt;">6</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 style="font-size:6.0pt;">6</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 style="font-size:6.0pt;">4</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 style="font-size:6.0pt;">209</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">454</font></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 style="font-size:6.0pt;">Derivatives</font></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 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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</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 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 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 style="font-size:6.0pt;">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 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 style="font-size:6.0pt;">10</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=26% style="background:#5AC4C4;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 style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 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:#5AC4C4;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 style="font-size:6.0pt;">79</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:6.0pt;">6</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:6.0pt;">1,145</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:6.0pt;">739</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:6.0pt;">2</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:6.0pt;">667</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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 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 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 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 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 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 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 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 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 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 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 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 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 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>
 </tr>
<tr style="height:8.25pt;">
  <td 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;">Derivatives</font></font></p>
  </td>
 <td nowrap width=8% 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 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;height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</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 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 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 style="font-size:6.0pt;">27</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 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 style="font-size:6.0pt;">125</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 lang=EN-US style="font-size:6.0pt;">Financial
  liabilities held for trading</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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 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 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 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 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 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=26% 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;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Financial
  liabilities designated at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=8% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">27</font></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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">2,679</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=26% style="background:#5AC4C4;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 style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 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:#5AC4C4;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 style="font-size:6.0pt;">1</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:6.0pt;">54</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:6.0pt;">2,804</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-93</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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:0cm;margin-bottom: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%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_8.1_014b_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=8 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Transfer
  between Levels. December 2018 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom 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 lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=7% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">From:</font></b></font></p>
  </td>
 <td colspan=2 width=20% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Level 1</font></b></font></p>
  </td>
 <td colspan=2 width=20% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Level 2</font></b></font></p>
  </td>
 <td colspan=2 width=20% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Level 3</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap valign=bottom width=33% 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=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=7% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">To:</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Level 1 </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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Level 1</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Level2</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=33% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">ASSETS</font></b></font></p>
  </td>
 <td nowrap width=7% 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 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 nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;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 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 nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;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 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 nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;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 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 nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;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 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 nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;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 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 nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;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 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>
 </tr>
<tr style="height:12.75pt;">
  <td 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=EN-US style="font-size:6.0pt;">Financial
  assets held for trading</font></font></p>
  </td>
 <td nowrap width=7% 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=EN-US style="font-size:6.0pt;">&nbsp;</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 style="font-size:6.0pt;">1,171</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 style="font-size:6.0pt;">2</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 style="font-size:6.0pt;">2</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 style="font-size:6.0pt;">6</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=33% 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 lang=EN-US style="font-size:6.0pt;">Non-trading
  financial assets mandatorily at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=7% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap 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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap 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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td nowrap 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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">67</font></font></p>
  </td>
 <td nowrap 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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap 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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">24</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=33% 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 lang=EN-US style="font-size:6.0pt;">Financial
  assets at fair value through other comprehensive income</font></font></p>
  </td>
 <td nowrap width=7% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">134</font></font></p>
  </td>
 <td nowrap 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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">72</font></font></p>
  </td>
 <td nowrap 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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap 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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">515</font></font></p>
  </td>
 <td nowrap 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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap 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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=33% 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;">Derivatives</font></font></p>
  </td>
 <td nowrap width=7% 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 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=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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">52</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 style="font-size:6.0pt;">118</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 style="font-size:6.0pt;">49</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=33% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 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=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">1,305</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">74</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">11</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">641</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">118</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">75</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=33% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=7% 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 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 nowrap width=10% 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 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 nowrap width=10% 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 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 nowrap width=10% 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 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 nowrap width=10% 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 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 nowrap width=10% 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 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 nowrap width=10% 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 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>
 </tr>
<tr style="height:12.75pt;">
  <td width=33% 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=EN-US style="font-size:6.0pt;">Financial
  liabilities held for trading</font></font></p>
  </td>
 <td nowrap width=7% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">138</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">37</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=33% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 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=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">138</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">37</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%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_50958b0e7a4c4edfb32a97196"></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%;">The amount
of financial instruments that were transferred between levels of valuation
during the year ended December 31, 2019, 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:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Transfers between Levels 1 and 2 represent mainly debt securities
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:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Transfers from Level 2 to Level 3 are mainly due to transactions
of financial assets held for trading, derivatives and financial liabilities
designated at fair value through profit or loss.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Transfers from Level 3 to Level 2 generally affect derivative and
debt securities transactions, for which inputs observable in the market have
been obtained.</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 color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Sensitivity analysis</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="_Toc376972328"></a><a name="_Toc376949920"></a><a name="_Toc474142240"></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%;">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;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%;">As of
December 31, 2019 and 2018, the effect on profit for the year 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_50958b0e7a4c4edfb32a97196_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_8.1_015_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Financial
  instruments Level 3 2019: Sensitivity analysis (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:35.25pt;">
  <td nowrap valign=bottom width=34% style="border:none;height:35.25pt;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=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=34% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&#160;income statement </font></b></font></p>
  </td>
 <td colspan=2 width=32% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">other comprehensive income</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td nowrap valign=bottom width=34% 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=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Most favorable hypothesis</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Least favorable hypothesis</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Most favorable hypothesis</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Least favorable hypothesis</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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 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 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 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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=34% 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=EN-US style="font-size:8.0pt;">Financial
  assets held for trading</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(60)</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=34% 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 style="font-size:8.0pt;">Loans and Advances</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(10)</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=34% 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 style="font-size:8.0pt;">Debt securities</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">3</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=34% 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 style="font-size:8.0pt;">Equity instruments</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">1</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(48)</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=34% 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 style="font-size:8.0pt;">Derivatives</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">2</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(2)</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Non-trading financial assets mandatorily at fair value through
  profit or loss</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:8.0pt;">367</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:8.0pt;">(66)</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=34% 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 style="font-size:8.0pt;">Loans and advances</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">354</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(61)</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=34% 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 style="font-size:8.0pt;">Debt securities</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">7</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=34% 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 style="font-size:8.0pt;">Equity instruments</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">5</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(6)</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Financial
  assets designated at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td 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;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Financial
  assets at fair value through other comprehensive income</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">10</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=34% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">372</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">(126)</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">10</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">(1)</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">LIABILITIES</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 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 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 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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap 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;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Financial
  liabilities held for trading</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(3)</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=34% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">3</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">(3)</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">-</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">-</font></b></font></p>
  </td>
 </tr>
</table></div>




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<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:8.0pt;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_8.1_015b_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Financial
  instruments Level 3 2018: Sensitivity analysis (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td nowrap valign=bottom width=35% style="border:none;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=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=32% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&#160;income statement </font></b></font></p>
  </td>
 <td colspan=2 width=33% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Potential impact on Total Equity</font></b></font></p>
  </td>
 </tr>
<tr style="height:29.25pt;">
  <td nowrap valign=bottom 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Most favorable hypothesis</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Least favorable hypothesis</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Most favorable hypothesis</font></b></font></p>
  </td>
 <td width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Least favorable hypothesis</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=35% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">ASSETS</font></b></font></p>
  </td>
 <td nowrap width=16% 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 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=16% 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 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=16% 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 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=17% 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 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:12.75pt;">
  <td width=35% 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=EN-US style="font-size:8.0pt;">Financial
  assets held for trading</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">6</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">(13)</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=35% 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;">Loans and Advances</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=35% 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;">Debt securities</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=35% 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;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(9)</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=35% 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;">Derivatives</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=35% 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=EN-US style="font-size:8.0pt;">Non-trading
  financial assets mandatorily at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">291</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">(181)</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=35% 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;">Loans and advances</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">285</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(161)</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=35% 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;">Debt securities</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(12)</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=35% 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;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(8)</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=35% 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=EN-US style="font-size:8.0pt;">Financial
  assets designated at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=35% 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=EN-US style="font-size:8.0pt;">Financial
  assets at fair value through other comprehensive income</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">10</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=35% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=16% 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 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=16% 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 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=16% 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 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=17% 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 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:12.75pt;">
  <td nowrap width=35% 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=EN-US style="font-size:8.0pt;">Financial
  liabilities held for trading</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1)</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=35% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">297</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">(194)</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">-</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:avoid;text-align:justify;"><a name="XBRL_TS_35de2367ee1942b8a2d14a2b8"></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;">8.2&#160;&#160;
Fair value of financial instruments carried at cost, by valuation criteria</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The valuation technique used to calculate the fair value of
financial assets and liabilities carried at cost as of December 31, 2019 are
presented below:</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 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=ES style="font-size:8.0pt;font-style:normal;letter-spacing:0pt;line-height:115%;">Financial
assets</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Debt
securities: Fair value estimated based on the available market price or by
using internal valuation methodologies.</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-95</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=ES style="font-size:8.0pt;font-style:normal;letter-spacing:0pt;line-height:115%;">Financial liabilities</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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: 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:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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;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%;">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, 2019 and 2018, broken down according to the method of
valuation used for the estimation:</font></font><a name="XBRL_TS_35de2367ee1942b8a2d14a2b8_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_8.1_016_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Fair value of
  financial instruments at amortized cost by levels (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td nowrap valign=bottom width=35% style="border:none;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=EN-US style="font-size:6.0pt;">&nbsp;</font></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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">2019</font></b></font></p>
  </td>
 <td colspan=3 width=32% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td nowrap valign=bottom width=35% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;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=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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Level 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Level 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Level 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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:18.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Level 3</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=right style="border:none;margin:0cm;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 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=#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 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=#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 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=#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 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=#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 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=#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:16.5pt;">
  <td width=35% 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=EN-US style="font-size:6.0pt;">Cash, cash
  balances at central banks and other demand deposits</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 style="font-size:6.0pt;">44,111</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">192</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 style="font-size:6.0pt;">58,024</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">172</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=35% 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=EN-US style="font-size:6.0pt;">Financial
  assets at amortized cost</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 style="font-size:6.0pt;">29,391</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 style="font-size:6.0pt;">217,279</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 style="font-size:6.0pt;">196,119</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 style="font-size:6.0pt;">21,419</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 style="font-size:6.0pt;">204,619</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">193,819</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=35% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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:11.25pt;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 nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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 nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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 nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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 nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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 nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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>
 </tr>
<tr style="height:8.25pt;">
  <td 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=EN-US style="font-size:6.0pt;">Financial
  liabilities at amortized cost </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 style="font-size:6.0pt;">67,229</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 style="font-size:6.0pt;">289,599</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 style="font-size:6.0pt;">159,082</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 style="font-size:6.0pt;">58,225</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 style="font-size:6.0pt;">269,128</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 style="font-size:6.0pt;">182,948</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:avoid;text-align:justify;"><a name="XBRL_TS_3a1ffc1d2a24485eacbc39f66"></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%;">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, 2019 and 2018:</font></font><a name="XBRL_TS_3a1ffc1d2a24485eacbc39f66_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_8.3_001_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Fair Value of
  financial Instruments at amortized cost by valuation technique. </font></font><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">December 2019 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=20% style="border:none;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;"><font color=#094FA4 face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td rowspan=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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Level 2</font></b></font></p>
  </td>
 <td rowspan=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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Level 3</font></b></font></p>
  </td>
 <td rowspan=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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Valuation technique(s)</font></b></font></p>
  </td>
 <td rowspan=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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Main inputs used</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 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>
 </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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">ASSETS </font></b></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=20% 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=20% 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:22.5pt;">
  <td width=20% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Financial
  assets at amortized cost</font></b></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">217,279</font></b></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">196,119</font></b></font></p>
  </td>
 <td rowspan=5 width=20% style="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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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 lang=EN-US style="font-size:8.0pt;">(Discounted future cash flows)</font></font></p>
  </td>
 <td width=20% style="border:none;height:22.5pt;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=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td width=20% style="border:none;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Central banks</font></font></p>
  </td>
 <td nowrap width=20% style="border:none;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=20% style="border:none;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2</font></font></p>
  </td>
 <td width=20% style="height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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 lang=EN-US 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=EN-US style="font-size:8.0pt;">- Interest rate
  yield</font></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td width=20% style="height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Loans and
  advances to credit institutions</font></font></p>
  </td>
 <td nowrap width=20% style="height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">9,049</font></font></p>
  </td>
 <td nowrap width=20% style="height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,628</font></font></p>
  </td>
 <td width=20% style="height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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 lang=EN-US 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=EN-US style="font-size:8.0pt;">- Interest rate
  yield</font></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td width=20% style="height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Loans and
  advances to customers</font></font></p>
  </td>
 <td nowrap width=20% style="height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">194,897</font></font></p>
  </td>
 <td nowrap width=20% style="height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">190,144</font></font></p>
  </td>
 <td width=20% style="height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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 lang=EN-US 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=EN-US style="font-size:8.0pt;">- Interest rate
  yield</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=20% 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;">Debt securities</font></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">13,333</font></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">1,345</font></font></p>
  </td>
 <td width=20% 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=EN-US 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 lang=EN-US style="font-size:8.0pt;">- Interest rate
  yield</font></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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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 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=20% 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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=20% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Financial
  liabilities at amortized cost </font></b></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">289,599</font></b></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">159,082</font></b></font></p>
  </td>
 <td nowrap width=20% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=20% 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=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 width=20% 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 style="font-size:8.0pt;">Deposits from central
  banks</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 style="font-size:8.0pt;">129</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td rowspan=5 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=EN-US 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 lang=EN-US style="font-size:8.0pt;">(Discounted future cash flows)</font></font></p>
  </td>
 <td rowspan=5 width=20% 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=EN-US 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 lang=EN-US 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:12.75pt;">
  <td width=20% style="height:12.75pt;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;">Deposits from credit
  institutions</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">21,575</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">6,831</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=20% 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 style="font-size:8.0pt;">Deposits from
  customers</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 style="font-size:8.0pt;">245,720</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 style="font-size:8.0pt;">135,514</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=20% 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 style="font-size:8.0pt;">Debt certificates</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 style="font-size:8.0pt;">14,194</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 style="font-size:8.0pt;">11,133</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=20% 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 style="font-size:8.0pt;">Other financial
  liabilities</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 style="font-size:8.0pt;">7,981</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 style="font-size:8.0pt;">5,604</font></font></p>
  </td>
 </tr>
</table></div>



<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:8.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_8.3_001b_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Fair Value of
  financial Instruments at amortized cost by valuation technique. </font></font><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">December 2018 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=20% style="border:none;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td rowspan=2 width=20% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Level 2</font></b></font></p>
  </td>
 <td rowspan=2 width=20% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Level 3</font></b></font></p>
  </td>
 <td rowspan=2 width=20% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Valuation technique(s)</font></b></font></p>
  </td>
 <td rowspan=2 width=20% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Main inputs used</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=20% 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 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>
 </tr>
<tr style="height:12.75pt;">
  <td width=20% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">ASSETS </font></b></font></p>
  </td>
 <td nowrap width=20% 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 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=20% 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 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=20% 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 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=20% 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 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:22.5pt;">
  <td width=20% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Financial
  assets at amortized cost</font></b></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">204,619</font></b></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">193,819</font></b></font></p>
  </td>
 <td rowspan=5 width=20% 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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif lang=EN-US style="font-size:7.5pt;">Present-value
  method</font></b></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=EN-US style="font-size:9.0pt;">(Discounted
  future cash flows)</font></font></p>
  </td>
 <td width=20% style="border:none;height:22.5pt;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=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td width=20% style="border:none;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Central banks</font></font></p>
  </td>
 <td nowrap width=20% style="border:none;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=20% style="border:none;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1</font></font></p>
  </td>
 <td width=20% style="height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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 lang=EN-US 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=EN-US style="font-size:8.0pt;">- Interest rate
  yield</font></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td width=20% style="height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Loans and
  advances to credit institutions</font></font></p>
  </td>
 <td nowrap width=20% style="height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,934</font></font></p>
  </td>
 <td nowrap width=20% style="height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,291</font></font></p>
  </td>
 <td width=20% style="height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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 lang=EN-US 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=EN-US style="font-size:8.0pt;">- Interest rate
  yield</font></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td width=20% style="height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Loans and
  advances to customers</font></font></p>
  </td>
 <td nowrap width=20% style="height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">190,666</font></font></p>
  </td>
 <td nowrap width=20% style="height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">183,645</font></font></p>
  </td>
 <td width=20% style="height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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 lang=EN-US 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=EN-US style="font-size:8.0pt;">- Interest rate
  yield</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=20% 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;">Debt securities</font></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">9,019</font></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">5,881</font></font></p>
  </td>
 <td width=20% 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=EN-US 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 lang=EN-US style="font-size:8.0pt;">- Interest rate
  yield</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=20% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=20% 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 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=20% 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 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=20% 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 nowrap width=20% 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>
 </tr>
<tr style="height:22.5pt;">
  <td width=20% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Financial
  liabilities at amortized cost </font></b></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">269,128</font></b></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">182,948</font></b></font></p>
  </td>
 <td nowrap width=20% 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=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=20% 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=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:12.75pt;">
  <td width=20% style="border:none;height:12.75pt;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;">Central Banks</font></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">196</font></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td rowspan=5 width=20% style="border:none;height:12.75pt;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=EN-US style="font-size:7.5pt;">Present-value
  method</font></b></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=EN-US style="font-size:9.0pt;">(Discounted
  future cash flows)</font></font></p>
  </td>
 <td rowspan=5 width=20% 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=EN-US 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 lang=EN-US 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:22.5pt;">
  <td width=20% style="height:22.5pt;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=EN-US style="font-size:8.0pt;">Loans and
  advances to credit institutions</font></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">22,281</font></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">9,852</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=20% style="height:22.5pt;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=EN-US style="font-size:8.0pt;">Loans and
  advances to customers</font></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">240,547</font></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">135,270</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=20% style="height:12.75pt;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;">Debt securities</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">6,104</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">25,096</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=20% style="height:12.75pt;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;">Other financial
  liabilities</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=20% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">12,730</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_337"></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=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-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_12250b56e51b4bbf9e1a9d3d7"></a><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;font-style:normal;letter-spacing:0pt;line-height:115%;">Equity
instruments at 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:8.0pt;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 in a sufficiently reliable
manner for the amount of &#8364;469 million, as of December 31, 2017.</font></font><a name="XBRL_TS_12250b56e51b4bbf9e1a9d3d7_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_078a0a0666304231b46b6ab19"></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:11.0pt;">9.&#160;&#160;
Cash, cash balances at central banks and other demand deposits</font></b></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:8.0pt;line-height:115%;">The
breakdown of the balance under the heading &#8220;Cash, cash balances at central
banks and other demand deposits&#8221; in the accompanying consolidated balance
sheets is as follows:</font></font><a name="XBRL_TS_078a0a0666304231b46b6ab19_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalance_001_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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=51% 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=#44546A face=Arial,sans-serif style="border:none;"><b><font color=#44546A face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=51% 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;">Cash on hand</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 style="font-size:8.0pt;">7,060</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 style="font-size:8.0pt;">6,346</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 style="font-size:8.0pt;">6,220</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=51% 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=EN-US style="font-size:8.0pt;">Cash balances
  at central banks</font></font></p>
  </td>
 <td nowrap width=17% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">31,755</font></font></p>
  </td>
 <td nowrap width=16% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">43,880</font></font></p>
  </td>
 <td nowrap width=16% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">31,718</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=51% 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;">Other demand deposits</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 style="font-size:8.0pt;">5,488</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 style="font-size:8.0pt;">7,970</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 style="font-size:8.0pt;">4,742</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=51% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;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 style="font-size:8.0pt;">44,303</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;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 style="font-size:8.0pt;">58,196</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;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 style="font-size:8.0pt;">42,680</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_TS_73385591b1d649559f1430a8a"></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%;">The change
in &#8220;Cash balances at central banks&#8221; is mainly due to the decrease in cash held
at the Bank of Spain.</font></font><a name="XBRL_TS_73385591b1d649559f1430a8a_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="_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_e9a074c871c34edb82a6815ee"></a><a name="_Toc457490017"></a><a name="_Toc474142243"></a><a name="_Toc481589072"></a><a name="_Toc495478124"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">10.&#160;&#160;
Financial assets and liabilities held for trading</font></b></font></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-36.0pt;"><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;">10.1&#160;&#160; Breakdown
of the balance</font></b></font></h2>

<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:8.0pt;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_e9a074c871c34edb82a6815ee_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalance_2dic_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:22.5pt;">
  <td colspan=5 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Financial
  assets and liabilities held for trading (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td width=50% 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=#44546A face=Arial,sans-serif style="border:none;"><b><font color=#44546A face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td nowrap width=50% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">ASSETS</font></b></font></p>
  </td>
 <td width=13% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=13% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#E7E6E6 face=Arial,sans-serif style="border:none;"><b><font color=#E7E6E6 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:22.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#E7E6E6 face=Arial,sans-serif style="border:none;"><b><font color=#E7E6E6 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:22.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#E7E6E6 face=Arial,sans-serif style="border:none;"><b><font color=#E7E6E6 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 style="font-size:8.0pt;">Derivatives</font></font></p>
  </td>
 <td nowrap width=13% 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=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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">33,185</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 style="font-size:8.0pt;">30,536</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 style="font-size:8.0pt;">35,265</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap 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;">Equity instruments</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7.1.2</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">8,892</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 style="font-size:8.0pt;">5,254</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 style="font-size:8.0pt;">6,801</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=50% 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;">Credit institutions</font></font></p>
  </td>
 <td nowrap 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 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=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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,037</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">880</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">962</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=50% 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;">Other sectors</font></font></p>
  </td>
 <td nowrap 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 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=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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">7,855</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">5,839</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 style="font-size:8.0pt;">Debt securities</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7.1.2</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">26,309</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 style="font-size:8.0pt;">25,577</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 style="font-size:8.0pt;">22,573</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=50% 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;">Issued by central
  banks</font></font></p>
  </td>
 <td nowrap 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 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=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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">840</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,001</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,371</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=50% 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;">Issued by public
  administrations</font></font></p>
  </td>
 <td nowrap 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 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=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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">23,918</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">22,950</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">19,344</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=50% 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;">Issued by financial
  institutions</font></font></p>
  </td>
 <td nowrap 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 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=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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">679</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">790</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">816</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=50% 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;">Other debt
  securities</font></font></p>
  </td>
 <td nowrap 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 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=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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">872</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">836</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,041</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 style="font-size:8.0pt;">Loans and advances </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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7.1.2</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">34,303</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 style="font-size:8.0pt;">28,750</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 style="font-size:8.0pt;">56</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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=EN-US style="font-size:8.0pt;">Loans and
  advances to central banks</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">535</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,163</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</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;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Reverse repurchase
  agreement</font></i></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">35</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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">535</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,163</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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=EN-US style="font-size:8.0pt;">Loans and
  advances to credit institutions</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">21,286</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">14,566</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</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;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Reverse repurchase
  agreement</font></i></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">35</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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">21,219</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">13,305</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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=EN-US style="font-size:8.0pt;">Loans and
  advances to customers</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">12,482</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">12,021</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">56</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 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;">Reverse repurchase
  agreement</font></i></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">35</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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">12,187</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">11,794</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=50% style="background:#5AC4C4;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&#160; assets</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;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=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">102,688</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">90,117</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">64,695</font></b></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 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;">LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=13% 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=#E7E6E6 face=Arial,sans-serif style="border:none;"><b><font color=#E7E6E6 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:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#E7E6E6 face=Arial,sans-serif style="border:none;"><b><font color=#E7E6E6 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:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#E7E6E6 face=Arial,sans-serif style="border:none;"><b><font color=#E7E6E6 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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 style="font-size:8.0pt;">Derivatives</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">35,019</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 style="font-size:8.0pt;">31,815</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 style="font-size:8.0pt;">36,169</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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 style="font-size:8.0pt;">Short positions</font></font></p>
  </td>
 <td nowrap 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 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=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 style="font-size:8.0pt;">12,249</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 style="font-size:8.0pt;">11,025</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 style="font-size:8.0pt;">10,013</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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 style="font-size:8.0pt;">Deposits</font></font></p>
  </td>
 <td nowrap 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 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=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 style="font-size:8.0pt;">42,365</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 style="font-size:8.0pt;">37,934</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">Deposits from
  central banks </font></font></p>
  </td>
 <td nowrap 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 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=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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">7,635</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">10,511</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</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;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Repurchase
  agreement</font></i></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">35</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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">7,635</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">10,511</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">Deposits from
  credit institutions </font></font></p>
  </td>
 <td nowrap 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 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=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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">24,969</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">15,687</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</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;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Repurchase
  agreement</font></i></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">35</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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">24,578</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">14,839</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">Customer deposits</font></font></p>
  </td>
 <td nowrap 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 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=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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">9,761</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">11,736</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</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 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;">Repurchase
  agreement</font></i></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">35</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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">9,689</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">11,466</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=50% style="background:#5AC4C4;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&#160; liabilities</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;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=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">89,633</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">80,774</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">46,182</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-97</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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:0cm;margin-bottom: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%;">&nbsp;</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_aca178380b9e4c61b2f4b2e68"></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%;">As of December 31, 2019, 2018 and 2017 &#8220;Short positions&#8221; include
&#8364;11,649 million, 10,255 million and 7,243 million, respectively, held with
general governments.</font></font></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-36.0pt;"><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;">10.2&#160;&#160;
Derivatives</font></b></font></h2>

<p style="border:none;margin:0cm;margin-bottom: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%;">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, 2019, 2018 and 2017, trading derivatives were mainly contracted in
over-the-counter (OTC) markets, with counterparties, consisting primarily of
foreign credit institutions and other non financial corporations, and are
related to foreign-exchange, interest-rate and equity risk.</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:8.0pt;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_aca178380b9e4c61b2f4b2e68_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_10.4_unificada006_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:9.0pt;">
  <td colspan=10 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Derivatives
  by type of risk and by product or by type of market (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap valign=bottom width=19% 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=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 nowrap width=27% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2019</font></b></font></p>
  </td>
 <td colspan=3 nowrap width=27% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2018</font></b></font></p>
  </td>
 <td colspan=3 nowrap width=27% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:20.25pt;">
  <td nowrap valign=bottom width=19% style="border:none;border-bottom:solid black 1.0pt;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:7.0pt;">&nbsp;</font></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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Assets</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Liabilities</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Notional amount - Total</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Assets</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Liabilities</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Notional amount - Total</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Assets</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Liabilities</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Notional amount - Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Interest rate</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">21,479</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">20,853</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">3,024,794</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">19,146</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">18,769</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">2,929,371</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">22,606</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">22,546</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">2,152,490</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% 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;">OTC </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 style="font-size:7.0pt;">21,479</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 style="font-size:7.0pt;">20,852</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 style="font-size:7.0pt;">2,997,443</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 style="font-size:7.0pt;">19,146</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 style="font-size:7.0pt;">18,769</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 style="font-size:7.0pt;">2,910,016</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 style="font-size:7.0pt;">22,606</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 style="font-size:7.0pt;">22,546</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 style="font-size:7.0pt;">2,129,474</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% 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;">Organized market</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">1</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">27,351</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">19,355</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">23,016</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Equity instruments</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">2,263</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">3,499</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">84,140</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">2,799</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">2,956</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">114,184</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">1,778</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">2,336</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">95,573</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% 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;">OTC</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 style="font-size:7.0pt;">353</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 style="font-size:7.0pt;">1,435</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 style="font-size:7.0pt;">40,507</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 style="font-size:7.0pt;">631</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 style="font-size:7.0pt;">463</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 style="font-size:7.0pt;">39,599</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 style="font-size:7.0pt;">578</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 style="font-size:7.0pt;">1,207</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 style="font-size:7.0pt;">42,298</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% 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;">Organized market</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">1,910</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">2,065</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">43,633</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">2,168</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">2,492</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">74,586</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">1,200</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">1,129</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">53,275</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=19% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Foreign exchange
  and gold</font></b></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">9,086</font></b></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">10,266</font></b></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">472,194</font></b></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">8,355</font></b></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">9,693</font></b></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">432,283</font></b></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">10,371</font></b></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">10,729</font></b></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">380,404</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% 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;">OTC</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 style="font-size:7.0pt;">9,049</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 style="font-size:7.0pt;">10,260</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 style="font-size:7.0pt;">463,662</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 style="font-size:7.0pt;">8,344</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 style="font-size:7.0pt;">9,638</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 style="font-size:7.0pt;">426,952</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 style="font-size:7.0pt;">10,337</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 style="font-size:7.0pt;">10,688</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 style="font-size:7.0pt;">373,303</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% 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;">Organized market</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">37</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">6</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">8,532</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">11</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">55</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">5,331</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">34</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">40</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">7,101</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Credit</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">353</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">397</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">29,077</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">232</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">393</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">25,452</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">489</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">517</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">30,181</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% 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;">Credit default swap</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 style="font-size:7.0pt;">338</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 style="font-size:7.0pt;">283</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 style="font-size:7.0pt;">26,702</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 style="font-size:7.0pt;">228</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 style="font-size:7.0pt;">248</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 style="font-size:7.0pt;">22,791</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 style="font-size:7.0pt;">480</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 style="font-size:7.0pt;">507</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 style="font-size:7.0pt;">27,942</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">Credit spread option</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">2</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 style="font-size:7.0pt;">150</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 style="font-size:7.0pt;">2</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">500</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">200</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">Total return swap</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 style="font-size:7.0pt;">14</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 style="font-size:7.0pt;">113</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 style="font-size:7.0pt;">2,225</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 style="font-size:7.0pt;">2</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 style="font-size:7.0pt;">145</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 style="font-size:7.0pt;">2,161</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 style="font-size:7.0pt;">9</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 style="font-size:7.0pt;">9</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 style="font-size:7.0pt;">2,039</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% 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;">Other</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Commodities</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">4</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">4</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">64</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">3</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">3</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">67</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">3</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">3</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">36</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Other</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">18</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">38</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">561</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">DERIVATIVES</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">33,185</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">35,019</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">3,610,269</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">30,536</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">31,815</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">3,501,358</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">35,265</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">36,169</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">2,659,246</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% 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=EN-US style="font-size:7.0pt;">Of which: OTC - credit institutions</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">20,706</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">23,717</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">1,000,243</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">16,979</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">18,729</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">897,384</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">21,016</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">22,804</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">898,209</font></i></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% 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;"><i><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Of which: OTC
  - other financial corporations</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">6,153</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">6,214</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">2,370,988</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">7,372</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">7,758</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">2,355,784</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">8,695</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">9,207</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">1,548,919</font></i></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% 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;"><i><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">Of which: OTC -
  other</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">4,378</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">3,016</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">159,521</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">4,005</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">2,780</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">148,917</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">4,316</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">2,986</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:7.0pt;">128,722</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-98</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_339"></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="XBRL_TS_24c84142040d47b3a1d194207"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">11.&#160;&#160; Non-trading financial
assets mandatorily at fair value through profit or loss</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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_24c84142040d47b3a1d194207_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalance_003_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:24.75pt;">
  <td colspan=5 nowrap 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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=59% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Notes</font></b></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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=59% 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;">Equity instruments</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 style="font-size:8.0pt;">7.1.2</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 style="font-size:8.0pt;">4,327</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 style="font-size:8.0pt;">3,095</font></font></p>
  </td>
 <td width=10% style="background:#E9E9E9;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=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>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=59% 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;">Debt securities</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 style="font-size:8.0pt;">7.1.2</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 style="font-size:8.0pt;">110</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 style="font-size:8.0pt;">237</font></font></p>
  </td>
 <td width=10% style="background:#E9E9E9;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>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=59% 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=EN-US 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:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">7.1.2</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 style="font-size:8.0pt;">1,120</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 style="font-size:8.0pt;">1,803</font></font></p>
  </td>
 <td width=10% style="background:#E9E9E9;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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=59% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 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=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">5,557</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">5,135</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="border:none;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</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;page-break-after:avoid;text-align:justify;"><a name="_Toc299029447"></a><a name="_Toc299031529"></a><a name="_Toc299032868"></a><a name="_Toc298431711"></a><a name="_Toc331260309"></a><a name="_Toc347755847"></a><a name="_Toc376949934"></a><a name="XBRL_TS_70570573ea794439a48581bbc"></a><a name="_Toc457490018"></a><a name="_Toc474142248"></a><a name="_Toc481589073"></a><a name="_Toc495478125"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">12.&#160;&#160; Financial assets and liabilities
designated at fair value through profit or loss</font></b></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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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_70570573ea794439a48581bbc_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalance_004_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:23.25pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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:12.75pt;">
  <td width=45% 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=#44546A face=Arial,sans-serif style="border:none;"><b><font color=#44546A face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">ASSETS</font></b></font></p>
  </td>
 <td width=14% 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=#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=14% 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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% 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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% 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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=14% 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=14% style="background:silver;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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% style="background:silver;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:5.0pt;">&nbsp;</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,888</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 style="font-size:8.0pt;">Debt securities</font></font></p>
  </td>
 <td nowrap width=14% 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=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 style="font-size:8.0pt;">1,214</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 style="font-size:8.0pt;">1,313</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">174</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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;">Loans and advances </font></font></p>
  </td>
 <td nowrap width=14% 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=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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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=right style="border:none;margin: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;">648</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=45% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total assets</font></b></font></p>
  </td>
 <td width=14% style="background:#5AC4C4;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 style="font-size:8.0pt;">7.1.2</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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 style="font-size:8.0pt;">1,214</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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 style="font-size:8.0pt;">1,313</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;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 style="font-size:8.0pt;">2,709</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">LIABILITIES</font></b></font></p>
  </td>
 <td width=14% 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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% 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 width=14% 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 width=13% 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 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 style="font-size:8.0pt;">Deposits</font></font></p>
  </td>
 <td nowrap width=14% 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=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 style="font-size:8.0pt;">944</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 style="font-size:8.0pt;">976</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">Debt certificates</font></font></p>
  </td>
 <td nowrap width=14% 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=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 style="font-size:8.0pt;">4,656</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 style="font-size:8.0pt;">2,858</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 lang=EN-US style="font-size:8.0pt;">Other financial
  liabilities: Unit-linked products</font></font></p>
  </td>
 <td nowrap width=14% 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=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">4,410</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 style="font-size:8.0pt;">3,159</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,222</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=45% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total liabilities</font></b></font></p>
  </td>
 <td width=14% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">10,010</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">6,993</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">2,222</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><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:10.0pt;text-align:justify;"><a name="XBRL_TS_6206e0f6902547f8a50d582e3"></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%;">As of
December 31, 2019, 2018 and 2017, within &#8220;Financial liabilities designated at
fair value through profit or loss&#8221;, liabilities linked to insurance products
where the policyholder bears the risk (&quot;</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Unit-Link</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">&quot;) are
recorded.&#160; 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></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:8.0pt;line-height:115%;">In addition, the assets and
liabilities are included in these headings to reduce inconsistencies
(asymmetries) in the valuation of those operations and those used to manage
their risk.</font></font><a name="XBRL_TS_6206e0f6902547f8a50d582e3_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_b77f01a158c54893a476b167e"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">13.&#160;&#160; Financial assets at
fair value through other comprehensive income</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;"><a name="_Toc474142250"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">13.1&#160;&#160; B</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:10.0pt;">reakdown
of the balance</font></b></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:8.0pt;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_b77f01a158c54893a476b167e_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalance_005_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:23.25pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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=48% 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;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=48% 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;">Equity instruments</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;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 style="font-size:8.0pt;">7.1.2</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 style="font-size:8.0pt;">2,420</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 style="font-size:8.0pt;">2,595</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 style="font-size:8.0pt;">4,488</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=48% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Loss allowances</font></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=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 style="font-size:8.0pt;">&nbsp;</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(1,264)</font></i></font></p>
  </td>
 </tr>
<tr style="height:13.35pt;">
  <td nowrap width=48% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border: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</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.35pt;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=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">2,420</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">2,595</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.35pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">3,224</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=48% 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;">Debt securities</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;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 style="font-size:8.0pt;">7.1.2</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 style="font-size:8.0pt;">58,841</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 style="font-size:8.0pt;">53,737</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 style="font-size:8.0pt;">66,273</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=48% 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Loss allowances</font></i></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=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 style="font-size:8.0pt;">&nbsp;</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(110)</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(28)</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(21)</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap width=48% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;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 style="font-size:8.0pt;">58,731</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;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 style="font-size:8.0pt;">53,709</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;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 style="font-size:8.0pt;">66,251</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=48% 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=EN-US style="font-size:8.0pt;">Loans and
  advances to credit institutions</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=center style="border:none;margin: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;">7.1.2</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 style="font-size:8.0pt;">33</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 style="font-size:8.0pt;">33</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=48% style="background:#5AC4C4;border:none;border-bottom:solid 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 </font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">61,183</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">56,337</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">69,476</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-99</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_340"></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:avoid;text-align:justify;"><a name="XBRL_TS_48f2a6f13ba44d72bbaff4a75"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">13.2&#160;&#160;
Equity instruments</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The breakdown of the balance under the heading &quot;Equity
instruments&quot; of the accompanying consolidated financial statements as of
December 31, 2019 and 2018 is as follows:</font></font><a name="XBRL_TS_48f2a6f13ba44d72bbaff4a75_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_12.2_UNIFICADA011_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:23.25pt;">
  <td colspan=9 width=100% style="background:#E9E9E9;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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Financial
  assets at fair value through other comprehensive income. </font></font><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:7.0pt;">Equity instruments. (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=20% style="border:none;height:9.0pt;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 style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=4 width=40% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2019</font></b></font></p>
  </td>
 <td colspan=4 width=40% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=20% style="border:none;border-bottom:solid black 1.0pt;height:18.0pt;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 style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% 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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:7.0pt;">Amortized cost</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: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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:7.0pt;">Unrealized</font></b></font></p>
  <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 style="font-size:7.0pt;">gains</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: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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:7.0pt;">Unrealized</font></b></font></p>
  <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 style="font-size:7.0pt;">losses</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: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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:7.0pt;">Fair</font></b></font></p>
  <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 style="font-size:7.0pt;">&#160;value &nbsp;</font></b></font></p>
  </td>
 <td width=10% 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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:7.0pt;">Amortized cost</font></b></font></p>
  </td>
 <td width=10% 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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:7.0pt;">Unrealized</font></b></font></p>
  <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 style="font-size:7.0pt;">gains</font></b></font></p>
  </td>
 <td width=10% 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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:7.0pt;">Unrealized</font></b></font></p>
  <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 style="font-size:7.0pt;">losses</font></b></font></p>
  </td>
 <td width=10% 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=#003366 face=Arial,sans-serif style="border:none;"><b><font color=#003366 face=Arial,sans-serif style="font-size:7.0pt;">Fair</font></b></font></p>
  <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 style="font-size:7.0pt;">&#160;value &nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=20% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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:11.25pt;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:11.25pt;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:11.25pt;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:11.25pt;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:11.25pt;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:11.25pt;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:11.25pt;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:11.25pt;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:11.25pt;">
  <td width=20% 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 style="font-size:8.0pt;">Spanish companies
  shares</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">2,181</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">(507)</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">1,674</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">2,172</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">(210)</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">1,962</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=20% 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 style="font-size:8.0pt;">Foreign companies
  shares</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 style="font-size:7.0pt;">136</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 style="font-size:7.0pt;">87</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 style="font-size:7.0pt;">(11)</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 style="font-size:7.0pt;">213</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 style="font-size:7.0pt;">90</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 style="font-size:7.0pt;">43</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 style="font-size:7.0pt;">(12)</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 style="font-size:7.0pt;">121</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=20% style="height:11.25pt;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;">The United States</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 style="font-size:7.0pt;">30</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 style="font-size:7.0pt;">47</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">78</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 style="font-size:7.0pt;">20</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 style="font-size:7.0pt;">17</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">37</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=20% style="height:11.25pt;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;">Mexico</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 style="font-size:7.0pt;">1</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 style="font-size:7.0pt;">33</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">34</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 style="font-size:7.0pt;">1</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 style="font-size:7.0pt;">25</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">26</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=20% style="height:11.25pt;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;">Turkey</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 style="font-size:7.0pt;">3</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 style="font-size:7.0pt;">2</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">5</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 style="font-size:7.0pt;">3</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">(1)</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 style="font-size:7.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=20% 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">Other countries</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">102</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">5</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">(11)</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">96</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">66</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">1</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">(11)</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">56</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=20% style="background:#5AC4C4;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 style="font-size:8.0pt;">Subtotal equity instruments
  listed</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">2,317</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">87</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">(518)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">1,886</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">2,262</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">43</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">(222)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">2,083</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=20% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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:11.25pt;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:11.25pt;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:11.25pt;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:11.25pt;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:11.25pt;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:11.25pt;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:11.25pt;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:11.25pt;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:11.25pt;">
  <td width=20% 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 style="font-size:8.0pt;">Spanish companies
  shares</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">5</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">1</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">5</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">6</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">1</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">7</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=20% 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 style="font-size:8.0pt;">Foreign companies
  shares </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 style="font-size:7.0pt;">450</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 style="font-size:7.0pt;">79</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 style="font-size:7.0pt;">(1)</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 style="font-size:7.0pt;">528</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 style="font-size:7.0pt;">453</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 style="font-size:7.0pt;">54</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 style="font-size:7.0pt;">(1)</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 style="font-size:7.0pt;">506</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=20% style="height:11.25pt;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;">The United States</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 style="font-size:7.0pt;">387</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 style="font-size:7.0pt;">32</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">419</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 style="font-size:7.0pt;">388</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 style="font-size:7.0pt;">23</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">411</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=20% style="height:11.25pt;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;">Mexico</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=20% style="height:11.25pt;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;">Turkey</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 style="font-size:7.0pt;">5</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 style="font-size:7.0pt;">4</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">9</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 style="font-size:7.0pt;">6</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 style="font-size:7.0pt;">4</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">10</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=20% 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">Other countries</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">57</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">43</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">99</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">59</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">27</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:7.0pt;">85</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=20% style="background:#5AC4C4;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 style="font-size:8.0pt;">Subtotal unlisted
  equity instruments</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">454</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">80</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">(1)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">533</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">459</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">55</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">(1)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">513</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=20% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">2,772</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">167</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">(519)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">2,420</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">2,721</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">98</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">(223)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">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:10.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_a806a890d6724f4782deee873"></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%;">The
breakdown of the balance under the heading &quot;Equity instruments&quot; of the
accompanying consolidated financial statements as of December 31, 2017 is as
follows:</font></font><a name="XBRL_TS_a806a890d6724f4782deee873_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_12.2_010anual_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:22.5pt;">
  <td colspan=6 width=100% style="background:#F2F2F2;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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Available-for-sale
  financial assets. Equity instruments. December 2017 (Millions of Euros)</font></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 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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% 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=EN-US style="font-size:8.0pt;">&nbsp;</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Amortized cost</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Unrealized</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">gains</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Unrealized</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">losses</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Fair</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">value </font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Equity instruments
  listed</font></b></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=13% 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=13% 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=13% 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=13% 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 nowrap width=34% 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;">Spanish companies
  shares</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">2,189</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">2,188</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap 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 style="font-size:8.0pt;">Foreign companies
  shares</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">&nbsp;</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">215</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">33</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(7)</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">241</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=34% 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 style="font-size:8.0pt;">United States</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 0cm 0cm 9.0pt;">
  <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;">&nbsp;</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">11</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">11</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=34% 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 style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 0cm 0cm 9.0pt;">
  <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;">&nbsp;</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">8</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">25</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">33</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=34% 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 style="font-size:8.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 0cm 0cm 9.0pt;">
  <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;">&nbsp;</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=34% 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 style="font-size:8.0pt;">Other countries</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 9.0pt;">
  <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;">&nbsp;</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=right style="border:none;margin: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;">192</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=right style="border:none;margin: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;">7</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=right style="border:none;margin: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;">(7)</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=right style="border:none;margin: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;">192</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=34% style="background:#5AC4C4;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;">Subtotal equity
  instruments listed</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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=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=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">2,404</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">33</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">(8)</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">2,429</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Unlisted equity
  instruments</font></b></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=13% 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=13% 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=13% 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=13% 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 nowrap width=34% 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;">Spanish companies
  shares</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">33</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">29</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">62</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Foreign companies
  shares </font></font></p>
  </td>
 <td nowrap width=14% 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 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">665</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">77</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(8)</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">734</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=34% 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 style="font-size:8.0pt;">United States</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 0cm 0cm 9.0pt;">
  <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;">&nbsp;</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">498</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">40</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(6)</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">532</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=34% 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 style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 0cm 0cm 9.0pt;">
  <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;">&nbsp;</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=34% 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 style="font-size:8.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 0cm 0cm 9.0pt;">
  <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;">&nbsp;</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">15</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">19</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=34% 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 style="font-size:8.0pt;">Other countries</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 0cm 0cm 9.0pt;">
  <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;">&nbsp;</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=right style="border:none;margin: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;">151</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=right style="border:none;margin: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;">31</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=right style="border:none;margin: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;">-</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=right style="border:none;margin: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;">182</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=34% style="background:#5AC4C4;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;">Subtotal unlisted
  equity instruments</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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=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=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">698</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">106</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">(8)</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">796</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=34% style="background:#5AC4C4;border:none;border-bottom:solid 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</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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=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=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">3,102</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">139</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">(16)</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">3,224</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-100</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_341"></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:avoid;text-align:justify;"><a name="XBRL_TS_0665d165f2724f709f3a109cb"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">13.3&#160;&#160;
Debt securities</font></b></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:8.0pt;line-height:115%;">The
breakdown of the balance under the heading &#8220;Debt securities&#8221; of the
accompanying consolidated financial statements as of December 31, 2019 and
2018, broken down by issuers, is as follows:</font></font><a name="XBRL_TS_0665d165f2724f709f3a109cb_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_12.2_UNIFICADA003_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:8.25pt;">
  <td colspan=9 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Financial
  assets at fair value through other comprehensive income. </font></font><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:6.0pt;">(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=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=4 nowrap width=38% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">2019</font></b></font></p>
  </td>
 <td colspan=4 nowrap width=36% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=26% 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 face=Arial,sans-serif style="border:none;"><b><font color=#0066CC 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Amortized&#160;&#160;&#160;&#160;&#160; cost </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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Unrealized</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">gains</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Unrealized</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">losses</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Fair</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">value</font></b></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Amortized&#160;&#160;&#160;&#160;&#160; cost </font></b></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Unrealized</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">gains</font></b></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Unrealized</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">losses</font></b></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Fair</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">value</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Domestic debt securities</font></b></font></p>
  </td>
 <td nowrap width=10% 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;"><b><font color=black face=Arial,sans-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: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;"><b><font color=black face=Arial,sans-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: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;"><b><font color=black face=Arial,sans-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: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;"><b><font color=black face=Arial,sans-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: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;"><b><font color=black face=Arial,sans-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: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;"><b><font color=black face=Arial,sans-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: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;"><b><font color=black face=Arial,sans-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: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;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</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=EN-US style="font-size:7.0pt;">Government and
  other government agency debt securities</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">20,740</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">830</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 style="font-size:6.0pt;">(20)</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 style="font-size:6.0pt;">21,550</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 style="font-size:6.0pt;">17,205</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 style="font-size:6.0pt;">661</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 style="font-size:6.0pt;">(9)</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 style="font-size:6.0pt;">17,857</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:7.0pt;">Central banks</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 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 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 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 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 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 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 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 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:7.0pt;">Credit institutions</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 style="font-size:6.0pt;">959</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 style="font-size:6.0pt;">65</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 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 style="font-size:6.0pt;">1,024</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 style="font-size:6.0pt;">793</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 style="font-size:6.0pt;">63</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 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 style="font-size:6.0pt;">855</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% 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;">Other issuers</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 style="font-size:6.0pt;">907</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 style="font-size:6.0pt;">40</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">947</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">804</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">37</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">841</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="background:#5AC4C4;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;">Subtotal </font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:6.0pt;">22,607</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:6.0pt;">935</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:6.0pt;">(21)</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:6.0pt;">23,521</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:6.0pt;">18,802</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:6.0pt;">761</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:6.0pt;">(10)</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:6.0pt;">19,553</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Foreign debt
  securities</font></b></font></p>
  </td>
 <td nowrap width=10% 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;"><b><font color=black face=Arial,sans-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: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;"><b><font color=black face=Arial,sans-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: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;"><b><font color=black face=Arial,sans-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: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;"><b><font color=black face=Arial,sans-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: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;"><b><font color=black face=Arial,sans-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: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;"><b><font color=black face=Arial,sans-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: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;"><b><font color=black face=Arial,sans-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: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;"><b><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Mexico</font></b></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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">7,790</font></b></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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">22</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">(26)</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">7,786</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">6,299</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">6</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">(142)</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">6,163</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=EN-US style="font-size:7.0pt;">Government and
  other government agency debt securities</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">6,869</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">18</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 style="font-size:6.0pt;">(19)</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 style="font-size:6.0pt;">6,868</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 style="font-size:6.0pt;">5,286</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 style="font-size:6.0pt;">4</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 style="font-size:6.0pt;">(121)</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 style="font-size:6.0pt;">5,169</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:7.0pt;">Central banks</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 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 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 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 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 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 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 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 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:7.0pt;">Credit institutions</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 style="font-size:6.0pt;">77</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 style="font-size:6.0pt;">2</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 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 style="font-size:6.0pt;">78</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 style="font-size:6.0pt;">35</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 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 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 style="font-size:6.0pt;">34</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% 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;">Other issuers</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 style="font-size:6.0pt;">843</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 style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">(6)</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">840</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">978</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">(20)</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">961</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">The United States</font></b></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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">11,376</font></b></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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">68</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">(51)</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">11,393</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">14,507</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">47</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">(217)</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">14,338</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 style="font-size:7.0pt;">Government securities
  </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 style="font-size:6.0pt;">8,570</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 style="font-size:6.0pt;">42</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 style="font-size:6.0pt;">(12)</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 style="font-size:6.0pt;">8,599</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 style="font-size:6.0pt;">11,227</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 style="font-size:6.0pt;">37</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 style="font-size:6.0pt;">(135)</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 style="font-size:6.0pt;">11,130</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=26% style="height:18.0pt;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=EN-US style="font-size:7.0pt;">Treasury and
  other government agencies</font></font></p>
  </td>
 <td nowrap width=10% 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">5,595</font></font></p>
  </td>
 <td nowrap width=10% 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">32</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">(2)</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">5,624</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">7,285</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">29</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">(56)</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">7,258</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="height:9.0pt;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:7.0pt;">States and political
  subdivisions </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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">2,975</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">10</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">(10)</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">2,975</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">3,942</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">(79)</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:6.0pt;">3,872</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:7.0pt;">Central banks</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 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 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 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 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 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 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 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 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:7.0pt;">Credit institutions</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 style="font-size:6.0pt;">122</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 style="font-size:6.0pt;">2</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 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 style="font-size:6.0pt;">124</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 style="font-size:6.0pt;">49</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 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 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 style="font-size:6.0pt;">50</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% 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;">Other issuers</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 style="font-size:6.0pt;">2,684</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 style="font-size:6.0pt;">24</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">(39)</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">2,670</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">3,231</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">9</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">(82)</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">3,158</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Turkey</font></b></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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">3,752</font></b></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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif 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:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">(76)</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">3,713</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">4,164</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">20</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">(269)</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">3,916</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=EN-US style="font-size:7.0pt;">Government and
  other government agency debt securities</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">3,752</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">38</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 style="font-size:6.0pt;">(76)</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 style="font-size:6.0pt;">3,713</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 style="font-size:6.0pt;">4,007</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 style="font-size:6.0pt;">20</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 style="font-size:6.0pt;">(256)</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 style="font-size:6.0pt;">3,771</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:7.0pt;">Central banks</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 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 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 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 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 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 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 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 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:7.0pt;">Credit institutions</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 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 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 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 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 style="font-size:6.0pt;">157</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 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 style="font-size:6.0pt;">(13)</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 style="font-size:6.0pt;">145</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% 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;">Other issuers</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Other countries</font></b></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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">11,870</font></b></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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">554</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">(106)</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">12,318</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">9,551</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">319</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">(130)</font></b></font></p>
  </td>
 <td nowrap width=9% 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=#002060 face=Arial,sans-serif style="border:none;"><b><font color=#002060 face=Arial,sans-serif style="font-size:6.0pt;">9,740</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=EN-US style="font-size:7.0pt;">Other foreign
  governments and other government agency debt securities</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">6,963</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">383</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 style="font-size:6.0pt;">(78)</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 style="font-size:6.0pt;">7,269</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 style="font-size:6.0pt;">4,510</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 style="font-size:6.0pt;">173</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 style="font-size:6.0pt;">(82)</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 style="font-size:6.0pt;">4,601</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:7.0pt;">Central banks</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 style="font-size:6.0pt;">1,005</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 style="font-size:6.0pt;">9</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 style="font-size:6.0pt;">(4)</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 style="font-size:6.0pt;">1,010</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 style="font-size:6.0pt;">987</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 style="font-size:6.0pt;">2</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 style="font-size:6.0pt;">(4)</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 style="font-size:6.0pt;">986</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:7.0pt;">Credit institutions</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 style="font-size:6.0pt;">1,795</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 style="font-size:6.0pt;">109</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 style="font-size:6.0pt;">(12)</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 style="font-size:6.0pt;">1,892</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 style="font-size:6.0pt;">1,856</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 style="font-size:6.0pt;">111</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 style="font-size:6.0pt;">(20)</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 style="font-size:6.0pt;">1,947</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% 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;">Other issuers</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 style="font-size:6.0pt;">2,106</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 style="font-size:6.0pt;">53</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">(12)</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">2,147</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">2,197</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">33</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">(25)</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">2,206</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="background:#5AC4C4;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;">Subtotal </font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:6.0pt;">34,788</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:6.0pt;">681</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:6.0pt;">(259)</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:6.0pt;">35,210</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:6.0pt;">34,521</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:6.0pt;">392</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:6.0pt;">(758)</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:6.0pt;">34,157</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=26% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:6.0pt;">57,395</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:6.0pt;">1,617</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:6.0pt;">(280)</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:6.0pt;">58,731</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:6.0pt;">53,323</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:6.0pt;">1,153</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:6.0pt;">(768)</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:6.0pt;">53,709</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;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_d00d2c6288b24100b788589b2"></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%;">The breakdown of the balance under the heading &#8220;Debt securities&#8221;
of the accompanying consolidated financial statements as of December 31, 2017,
broken down by issuers, is as follows:</font></font><a name="XBRL_TS_d00d2c6288b24100b788589b2_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_12.2_004anual_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:17.45pt;">
  <td colspan=6 width=100% style="background:#F2F2F2;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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Available-for-sale
  financial assets. </font></font><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">December 2017 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=44% 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 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 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 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Amortized&#160;&#160;&#160;&#160;&#160;&#160; 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Unrealized</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Unrealized</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Fair</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">value</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=44% 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 style="font-size:8.0pt;">Domestic debt
  securities</font></b></font></p>
  </td>
 <td width=12% 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 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=#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: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 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=#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: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>
 </tr>
<tr style="height:9.75pt;">
  <td width=44% 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=EN-US style="font-size:8.0pt;">Government and
  other government agency debt securities</font></font></p>
  </td>
 <td width=12% style="border:none;height:9.75pt;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=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:8.0pt;">22,765</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:8.0pt;">791</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:8.0pt;">(17)</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:8.0pt;">23,539</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:8.0pt;">Central banks</font></font></p>
  </td>
 <td width=12% 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 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 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 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 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td width=12% 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 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 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 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 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 style="font-size:8.0pt;">962</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=44% 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;">Other issuers</font></font></p>
  </td>
 <td width=12% 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: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 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 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 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 style="font-size:8.0pt;">1,103</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=44% style="background:#5AC4C4;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 style="font-size:8.0pt;">Subtotal Spanish debt
  securities</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;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=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:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">24,716</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">906</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">(17)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">25,605</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=44% 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 style="font-size:8.0pt;">Foreign debt
  securities</font></b></font></p>
  </td>
 <td width=12% 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 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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 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:13.5pt;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 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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 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:13.5pt;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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=44% 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 style="font-size:8.0pt;">Mexico</font></b></font></p>
  </td>
 <td width=12% 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 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">9,658</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=44% 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=EN-US style="font-size:8.0pt;">Government and
  other government agency debt securities</font></font></p>
  </td>
 <td width=12% 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=EN-US 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 style="font-size:8.0pt;">8,101</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 style="font-size:8.0pt;">34</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 style="font-size:8.0pt;">(120)</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 style="font-size:8.0pt;">8,015</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:8.0pt;">Central banks</font></font></p>
  </td>
 <td width=12% 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 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 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 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 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td width=12% 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 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 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 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 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 style="font-size:8.0pt;">209</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=44% 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;">Other issuers</font></font></p>
  </td>
 <td width=12% 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: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 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 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 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 style="font-size:8.0pt;">1,434</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=44% 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 style="font-size:8.0pt;">The United States</font></b></font></p>
  </td>
 <td width=12% 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 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">12,317</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=44% 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;">Government securities
  </font></font></p>
  </td>
 <td width=12% 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: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 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 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 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 style="font-size:8.0pt;">8,500</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=44% 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=EN-US style="font-size:8.0pt;">Treasury and
  other government agencies</font></font></p>
  </td>
 <td width=12% style="height:12.0pt;padding:0cm 0cm 0cm 9.0pt;">
  <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=EN-US 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 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 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 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 style="font-size:8.0pt;">3,018</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=44% 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;">States
  and political subdivisions </font></font></p>
  </td>
 <td width=12% style="height:12.0pt;padding:0cm 0cm 0cm 9.0pt;">
  <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;">&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 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 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 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 style="font-size:8.0pt;">5,482</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:8.0pt;">Central banks</font></font></p>
  </td>
 <td width=12% 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 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 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 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 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td width=12% 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 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 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 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 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 style="font-size:8.0pt;">57</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=44% 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;">Other issuers</font></font></p>
  </td>
 <td width=12% 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: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 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 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 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 style="font-size:8.0pt;">3,759</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=44% 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 style="font-size:8.0pt;">Turkey</font></b></font></p>
  </td>
 <td width=12% 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 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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:13.5pt;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;">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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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:13.5pt;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;">4,985</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=44% 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=EN-US style="font-size:8.0pt;">Government and
  other government agency debt securities</font></font></p>
  </td>
 <td width=12% 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=EN-US 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 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 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 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 style="font-size:8.0pt;">4,967</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:8.0pt;">Central banks</font></font></p>
  </td>
 <td width=12% 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 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 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 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 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td width=12% 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 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 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 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 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 style="font-size:8.0pt;">19</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=44% 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;">Other issuers</font></font></p>
  </td>
 <td width=12% 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: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 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 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 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=44% 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 style="font-size:8.0pt;">Other countries</font></b></font></p>
  </td>
 <td width=12% 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 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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:13.5pt;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;">533</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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:13.5pt;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;">13,687</font></b></font></p>
  </td>
 </tr>
<tr style="height:17.25pt;">
  <td width=44% 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=EN-US style="font-size:8.0pt;">Other foreign
  governments and other government agency debt securities</font></font></p>
  </td>
 <td width=12% style="border:none;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=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">6,774</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 style="font-size:8.0pt;">325</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 style="font-size:8.0pt;">(77)</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 style="font-size:8.0pt;">7,022</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:8.0pt;">Central banks</font></font></p>
  </td>
 <td width=12% 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 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 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 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 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 style="font-size:8.0pt;">1,331</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:8.0pt;">Credit institutions</font></font></p>
  </td>
 <td width=12% 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 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 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 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 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 style="font-size:8.0pt;">2,654</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=44% 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;">Other issuers</font></font></p>
  </td>
 <td width=12% 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: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 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 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 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 style="font-size:8.0pt;">2,679</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=44% style="background:#5AC4C4;border:none;border-bottom:solid 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 </font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;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=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:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">40,557</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">661</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">(572)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">40,647</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=44% style="background:#5AC4C4;border:none;border-bottom:solid 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</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;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=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:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">65,273</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,567</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">(589)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">66,251</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-101</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_342"></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;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_bd5b142593b343a4b1b5184e1"></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%;">The credit ratings of the issuers of debt securities as of
December 31, 2019, 2018, and 2017 are as follows:</font></font><a name="XBRL_TS_bd5b142593b343a4b1b5184e1_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_12.2_007_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:22.5pt;">
  <td colspan=7 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">Debt securities by
  rating</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=24% style="border:none;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;"><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="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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td colspan=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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td colspan=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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td width=24% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;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=13% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(Millions of Euros)</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:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">%</font></b></font></p>
  </td>
 <td width=13% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(Millions of Euros)</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">%</font></b></font></p>
  </td>
 <td width=13% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(Millions of Euros)</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">AAA</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">3,669</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">6.2%</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">531</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 style="font-size:8.0pt;">1.0%</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">687</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 style="font-size:8.0pt;">1.0%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=24% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">AA+</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7,279</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">12.4%</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">13,100</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 style="font-size:8.0pt;">24.4%</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">10,738</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 style="font-size:8.0pt;">16.2%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=24% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">AA</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">317</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.5%</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">222</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 style="font-size:8.0pt;">0.4%</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">507</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 style="font-size:8.0pt;">0.8%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=24% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">AA-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">265</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.5%</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">409</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 style="font-size:8.0pt;">0.8%</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">291</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 style="font-size:8.0pt;">0.4%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=24% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">A+</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,367</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5.7%</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">632</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 style="font-size:8.0pt;">1.2%</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">664</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 style="font-size:8.0pt;">1.0%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=24% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">A</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">12,895</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">22.0%</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">687</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 style="font-size:8.0pt;">1.3%</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">683</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 style="font-size:8.0pt;">1.0%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=24% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">A-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">10,947</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">18.6%</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">18,426</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 style="font-size:8.0pt;">34.3%</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,330</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 style="font-size:8.0pt;">2.0%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=24% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">BBB+</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">9,946</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">16.9%</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">9,195</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 style="font-size:8.0pt;">17.1%</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">35,175</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 style="font-size:8.0pt;">53.1%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=24% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">BBB</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,966</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5.1%</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,607</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 style="font-size:8.0pt;">8.6%</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7,958</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 style="font-size:8.0pt;">12.0%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=24% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">BBB-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,927</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3.3%</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,003</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 style="font-size:8.0pt;">1.9%</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5,583</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 style="font-size:8.0pt;">8.4%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=24% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">BB+ or below</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,712</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">8.0%</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,453</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 style="font-size:8.0pt;">8.3%</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,564</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 style="font-size:8.0pt;">2.4%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=24% 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;">Without rating</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=right style="border:none;margin: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;">441</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=right style="border:none;margin: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;">0.8%</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=right style="border:none;margin: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;">445</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 style="font-size:8.0pt;">0.8%</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=right style="border:none;margin: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;">1,071</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 style="font-size:8.0pt;">1.6%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=24% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">58,731</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">100.0%</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">53,709</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">100.0%</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">66,251</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">100.0%</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_77c40f71520848b7939a3fce9"></a><a name="_Toc376949933"></a><a name="_Toc376972341"></a><a name="_Toc474142253"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">13.4&#160;&#160;
Gains/losses</font></b></font></p>

<p 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=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Changes in gains / losses</font></b></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:8.0pt;line-height:115%;">The changes
in the gains/losses (net of taxes) in December 31, 2019 and 2018 of debt
securities recognized under the equity heading &#8220;Accumulated other comprehensive
income &#8211; 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;
and equity instruments recognized under the equity heading &#8220;Accumulated other
comprehensive income &#8211; Items </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">that will not be
reclassified to profit or loss</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> &#8211; Changes in fair
value of equity instruments designated at fair value through other
comprehensive income&#8221; in the accompanying consolidated balance sheets are as
follows:</font></font><a name="XBRL_TS_77c40f71520848b7939a3fce9_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_12.3_PRUEBA013_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=6 valign=top 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Other
  comprehensive income - Changes in gains / losses (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=40% 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 lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=24% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Debt securities </font></b></font></p>
  </td>
 <td colspan=2 width=24% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Equity instruments</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=40% 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;"><font color=black face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=40% style="background:#5AC4C4;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;">Balance at the
  beginning </font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">943</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">1,557</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">(155)</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">84</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=40% 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=EN-US style="font-size:8.0pt;">Effect of
  changes in accounting policies (IFRS 9)</font></font></p>
  </td>
 <td nowrap width=12% 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=#004FA4 face=Arial,sans-serif style="border:none;"><font color=#004FA4 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">(58)</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">(40)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=40% 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;">Valuation gains and
  losses</font></font></p>
  </td>
 <td nowrap 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=#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=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 style="font-size:8.0pt;">1,267</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 style="font-size:8.0pt;">(640)</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 style="font-size:8.0pt;">(238)</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 style="font-size:8.0pt;">(174)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=40% 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;">Amounts transferred
  to income</font></font></p>
  </td>
 <td nowrap 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=#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=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 style="font-size:8.0pt;">(119)</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 style="font-size:8.0pt;">(137)</font></font></p>
  </td>
 <td nowrap width=12% style="background:#BFBFBF;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:#BFBFBF;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=40% 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
  reclassifications</font></font></p>
  </td>
 <td nowrap 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=#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=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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=40% 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;">Income tax</font></font></p>
  </td>
 <td nowrap width=12% 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=#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=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 style="font-size:8.0pt;">(331)</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 style="font-size:8.0pt;">221</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 style="font-size:8.0pt;">(10)</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 style="font-size:8.0pt;">(25)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=40% style="background:#5AC4C4;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;">Balance at the end</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:8.0pt;">30</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">1,760</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">943</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">(403)</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">(155)</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-102</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</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:10.0pt;text-align:justify;"><a name="XBRL_TS_d35416dca47645a18822f79a4"></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%;">In 2019, 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 net gains by modification&#8211; Financial assets at fair value through other
comprehensive income&#8221; in the accompanying consolidated income statement
amounted to &#8364;83 million (see Note 47) as a result of the </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">decrease in the rating of debt securities in BBVA Argentina during
the last quarter of 2019.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">In 2018, 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 net gains by modification&#8211; Financial assets at fair value through other
comprehensive income&#8221; in the accompanying consolidated income statement
amounted to &#8364;1 million (see Note 47).</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:8.0pt;line-height:115%;">During 2019 and 2018 </font></font><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 has been no significant impairment registered in equity
instruments under the heading &#8220;Impairment or reversal of impairment on financial
assets not measured at fair value through profit or loss net gains by
modification- </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:8.0pt;line-height:115%;">&#8221; (see Note
47).</font></font><a name="XBRL_TS_d35416dca47645a18822f79a4_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_fd5093c276424e1fb4d3a462c"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">14.&#160;&#160; Financial assets at
amortized cost</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-36.0pt;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">14.1&#160;&#160; Breakdown of the balance</font></b></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:8.0pt;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_fd5093c276424e1fb4d3a462c_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalance_6dic_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:23.1pt;">
  <td nowrap width=52% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:23.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Financial
  assets at amortized cost (Millions of Euros)</font></font></p>
  </td>
 <td nowrap width=12% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:23.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:23.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:23.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:#E9E9E9;border:none;border-bottom:solid black 1.0pt;height:23.1pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:23.1pt;">
  <td width=52% style="border:none;border-bottom:solid black 1.0pt;height:23.1pt;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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:23.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:23.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:23.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:23.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Debt securities</font></b></font></p>
  </td>
 <td nowrap width=12% 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 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:12.75pt;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;">38,877</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">32,530</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">24,093</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=52% style="border:none;height:12.75pt;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;">Government</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">&nbsp;</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">31,526</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">25,014</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">17,030</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=52% style="height:12.75pt;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;">Credit institutions</font></font></p>
  </td>
 <td nowrap 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 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=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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">719</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">644</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">1,152</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=52% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other sectors </font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">&nbsp;</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">6,632</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">6,872</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">5,911</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Loans and
  advances to central banks</font></b></font></p>
  </td>
 <td nowrap width=12% 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=EN-US 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:12.75pt;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;">4,275</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">3,941</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">7,300</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Loans and
  advances to credit institutions</font></b></font></p>
  </td>
 <td nowrap width=12% 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=EN-US 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:12.75pt;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;">13,649</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">9,163</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">26,261</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=52% style="border:none;height:12.75pt;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;">Reverse repurchase
  agreements</font></font></p>
  </td>
 <td nowrap width=12% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">35</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">1,817</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">478</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">13,861</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=52% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other loans and
  advances</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">&nbsp;</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">11,832</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">8,685</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">12,400</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Loans and
  advances to customers</font></b></font></p>
  </td>
 <td nowrap width=12% 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=EN-US 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:12.75pt;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;">382,360</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">374,027</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">387,621</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=52% style="border:none;height:12.75pt;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;">Government</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">28,222</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 style="font-size:8.0pt;">28,114</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 style="font-size:8.0pt;">31,645</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=52% style="height:12.75pt;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;">Other financial
  corporations</font></font></p>
  </td>
 <td nowrap 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 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=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 style="font-size:8.0pt;">11,207</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 style="font-size:8.0pt;">9,468</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 style="font-size:8.0pt;">18,173</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=52% style="height:12.75pt;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;">Non-financial
  corporations</font></font></p>
  </td>
 <td nowrap 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 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=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 style="font-size:8.0pt;">166,789</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 style="font-size:8.0pt;">163,922</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 style="font-size:8.0pt;">164,510</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=52% style="height:12.75pt;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;">Other</font></font></p>
  </td>
 <td nowrap 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 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=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 style="font-size:8.0pt;">176,142</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 style="font-size:8.0pt;">172,522</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 style="font-size:8.0pt;">173,293</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=52% style="background:#5AC4C4;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 style="border: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</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top: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=12% style="background:#5AC4C4;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=right style="border:none;margin:0cm;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;">439,162</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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=right style="border:none;margin:0cm;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;">419,660</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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=right style="border:none;margin:0cm;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;">445,275</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=52% 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=EN-US style="font-size:8.0pt;">Of which:
  impaired assets of loans and advances to customers</font></i></font></p>
  </td>
 <td nowrap width=12% 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">15,954</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">16,349</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">19,390</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=52% 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=EN-US style="font-size:8.0pt;">Of which:
  loss allowances of loans and advances</font></i></font></p>
  </td>
 <td nowrap 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">(12,427)</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">(12,217)</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">(12,784)</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=52% 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=EN-US style="font-size:8.0pt;">Of which:
  loss allowances of debt securities</font></i></font></p>
  </td>
 <td nowrap 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">(52)</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">(51)</font></i></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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">(15)</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_200b5e521b7a4f99be4ce28ad"></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%;">During
financial years 2019 and 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></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-36.0pt;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">14.2&#160;&#160; Debt securities</font></b></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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">The
breakdown of the balance under the heading &#8220;Debt securities&#8221; in the
accompanying consolidated balance sheets, according to the issuer of the debt
securities, is as follows:</font></font><a name="XBRL_TS_200b5e521b7a4f99be4ce28ad_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_14.3_UNIFICADA001_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=9 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Financial
  assets at amortized cost. </font></font><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">(Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=16% 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=4 nowrap width=43% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td colspan=4 nowrap 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:28.5pt;">
  <td width=16% 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=#0066CC face=Arial,sans-serif style="border:none;"><b><font color=#0066CC 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Amortized&#160;&#160;&#160;&#160;&#160; cost </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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Unrealized</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">gains</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Unrealized</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">losses</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Fair</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&#160;value &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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Amortized&#160;&#160;&#160;&#160;&#160; cost </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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Unrealized</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">gains</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Unrealized</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">losses</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Fair</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&#160;value&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=16% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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:22.5pt;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=10% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;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:22.5pt;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:22.5pt;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=10% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;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=10% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;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=10% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;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:22.5pt;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:22.5pt;">
  <td width=16% 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=EN-US style="font-size:8.0pt;">Government and
  other government agencies</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">12,755</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">630</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">(21)</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">13,363</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">10,953</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">458</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">(265)</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">11,146</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=16% 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;">Central banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</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 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 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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=16% 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;">Credit 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 style="font-size:8.0pt;">26</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 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 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 style="font-size:8.0pt;">26</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 style="font-size:8.0pt;">53</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 style="font-size:8.0pt;">-</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 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 style="font-size:8.0pt;">53</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=16% 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 issuers</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 style="font-size:8.0pt;">4,903</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 style="font-size:8.0pt;">38</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 style="font-size:8.0pt;">(10)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,931</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 style="font-size:8.0pt;">5,014</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 style="font-size:8.0pt;">41</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 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 style="font-size:8.0pt;">5,030</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=16% style="background:#5AC4C4;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;">Subtotal </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">17,684</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">668</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">(31)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">18,320</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">16,019</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">499</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">(290)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">16,228</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=16% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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:22.5pt;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=10% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;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:22.5pt;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:22.5pt;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=10% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;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=10% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;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=10% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;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:22.5pt;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:12.75pt;">
  <td width=16% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-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:12.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">6,374</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">168</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 style="font-size:8.0pt;">(18)</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 style="font-size:8.0pt;">6,525</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">5,148</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">10</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">5,157</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td width=16% style="border:none;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Government and
  other government agencies debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">5,576</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">166</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">5,742</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,571</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">9</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,579</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=16% 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;">Central banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</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 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 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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=16% 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;">Credit 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 style="font-size:8.0pt;">526</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 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 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 style="font-size:8.0pt;">529</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 style="font-size:8.0pt;">350</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 style="font-size:8.0pt;">1</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 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 style="font-size:8.0pt;">351</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=16% 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 issuers</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 style="font-size:8.0pt;">272</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">(18)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">254</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 style="font-size:8.0pt;">227</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">227</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=16% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-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:12.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">6,125</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">111</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 style="font-size:8.0pt;">(20)</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 style="font-size:8.0pt;">6,217</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">2,559</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">15</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(3)</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 style="font-size:8.0pt;">2,570</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=16% 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;">Government securities
  </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 style="font-size:8.0pt;">5,690</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 style="font-size:8.0pt;">111</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 style="font-size:8.0pt;">(18)</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 style="font-size:8.0pt;">5,783</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 style="font-size:8.0pt;">2,070</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">2,070</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=16% style="height:22.5pt;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=EN-US style="font-size:8.0pt;">Treasury and
  other government agencies</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,161</font></font></p>
  </td>
 <td nowrap width=10% 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">50</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">(17)</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,193</font></font></p>
  </td>
 <td nowrap width=10% 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">118</font></font></p>
  </td>
 <td nowrap width=10% 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">118</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=16% style="height:22.5pt;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 style="font-size:8.0pt;">States and political
  subdivisions </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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">4,530</font></font></p>
  </td>
 <td nowrap width=10% 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">61</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">(1)</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">4,590</font></font></p>
  </td>
 <td nowrap width=10% 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,952</font></font></p>
  </td>
 <td nowrap width=10% 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,952</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=16% 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;">Central banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=16% 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;">Credit 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 style="font-size:8.0pt;">25</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 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 style="font-size:8.0pt;">(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 style="font-size:8.0pt;">25</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 style="font-size:8.0pt;">23</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 style="font-size:8.0pt;">9</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 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 style="font-size:8.0pt;">30</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=16% 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 issuers</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 style="font-size:8.0pt;">410</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">409</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 style="font-size:8.0pt;">466</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 style="font-size:8.0pt;">6</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 style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">470</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=16% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-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:12.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">4,113</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">48</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 style="font-size:8.0pt;">(65)</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 style="font-size:8.0pt;">4,097</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">4,062</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">-</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(261)</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 style="font-size:8.0pt;">3,801</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td width=16% style="border:none;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Government and
  other government agencies debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,105</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">47</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(65)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,088</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,054</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(261)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3,793</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=16% 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;">Central banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</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 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 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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=16% 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;">Credit 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 style="font-size:8.0pt;">7</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 style="font-size:8.0pt;">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 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 style="font-size:8.0pt;">8</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 style="font-size:8.0pt;">7</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 style="font-size:8.0pt;">-</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 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 style="font-size:8.0pt;">7</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=16% 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 issuers</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 style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=16% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Other countries</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">4,581</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 5.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">82</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 style="font-size:8.0pt;">(26)</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 style="font-size:8.0pt;">4,637</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">4,741</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">32</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(152)</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 style="font-size:8.0pt;">4,622</font></b></font></p>
  </td>
 </tr>
<tr style="height:45.0pt;">
  <td width=16% style="border:none;height:45.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Other foreign
  governments and other government agency debt securities</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,400</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">82</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(22)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,459</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,366</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">27</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(152)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,242</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=16% 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;">Central banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</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 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 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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">64</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 style="font-size:8.0pt;">-</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 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 style="font-size:8.0pt;">64</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=16% 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;">Credit 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 style="font-size:8.0pt;">135</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 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 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 style="font-size:8.0pt;">135</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 style="font-size:8.0pt;">147</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 style="font-size:8.0pt;">-</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 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 style="font-size:8.0pt;">147</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=16% 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 issuers</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 style="font-size:8.0pt;">1,047</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">(4)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,043</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 style="font-size:8.0pt;">1,164</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 style="font-size:8.0pt;">5</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">1,169</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=16% style="background:#5AC4C4;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;">Subtotal </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">21,194</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">409</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">(129)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">21,476</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">16,510</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">57</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">(416)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">16,150</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=16% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">38,877</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">1,077</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">(160)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">39,796</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">32,530</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">556</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">(706)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">32,378</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-103</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_f6479158e6c149a699f23c440"></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%;">As of
December 31, 2019 and 2018, the credit ratings of the issuers of debt
securities classified as follows:</font></font><a name="XBRL_TS_f6479158e6c149a699f23c440_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_14.3_002_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:22.5pt;">
  <td colspan=5 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">Debt securities by
  rating</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=42% style="border:none;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;"><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="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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td colspan=2 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:38.25pt;">
  <td width=42% style="border:none;border-bottom:solid black 1.0pt;height:38.25pt;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=15% style="border:none;border-bottom:solid black 1.0pt;height:38.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(Millions of Euros)</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:38.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">%</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:38.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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:38.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">%</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=42% 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:9.0pt;">AAA</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 style="font-size:8.0pt;">39</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 style="font-size:8.0pt;">0.1%</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">49</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">0.2%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=42% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">AA+</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 style="font-size:8.0pt;">6,481</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 style="font-size:8.0pt;">16.7%</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,969</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">6.1%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=42% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">AA</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 style="font-size:8.0pt;">14</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">62</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">0.2%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=42% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">AA-</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 style="font-size:8.0pt;">713</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 style="font-size:8.0pt;">1.8%</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=42% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">A+</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">607</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1.9%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=42% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">A</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 style="font-size:8.0pt;">16,806</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 style="font-size:8.0pt;">43.2%</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">21</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">0.1%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=42% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">A-</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 style="font-size:8.0pt;">607</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 style="font-size:8.0pt;">1.6%</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">6,117</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">18.8%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=42% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">BBB+</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 style="font-size:8.0pt;">3,715</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 style="font-size:8.0pt;">9.6%</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">13,894</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">42.7%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=42% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">BBB</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 style="font-size:8.0pt;">551</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 style="font-size:8.0pt;">1.4%</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,623</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">5.0%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=42% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">BBB-</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 style="font-size:8.0pt;">3,745</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 style="font-size:8.0pt;">9.6%</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,694</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">8.3%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=42% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">BB+ or below</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 style="font-size:8.0pt;">5,123</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 style="font-size:8.0pt;">13.2%</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,371</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">13.4%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=42% 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;">Without rating</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 style="font-size:8.0pt;">1,083</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 style="font-size:8.0pt;">2.8%</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,123</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3.5%</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=42% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">38,877</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">100.0%</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">32,530</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">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-104</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-36.0pt;"><a name="XBRL_TS_5acfa734001a45faba46bc3b2"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">14.3&#160;&#160; Loans and advances to
customers</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;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_5acfa734001a45faba46bc3b2_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalance_6.3_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Loans and
  advances to customers (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=44% 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=#44546A face=Arial,sans-serif style="border:none;"><b><font color=#44546A face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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=EN-US style="font-size:8.0pt;">On demand and
  short notice</font></font></p>
  </td>
 <td nowrap width=14% 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=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">3,050</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">3,641</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">10,560</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">Credit card debt</font></font></p>
  </td>
 <td nowrap width=14% 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=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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">16,354</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">15,445</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">15,835</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">Trade receivables</font></font></p>
  </td>
 <td nowrap width=14% 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=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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">17,276</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">17,436</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">22,705</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">Finance leases</font></font></p>
  </td>
 <td nowrap width=14% 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=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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">8,711</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">8,650</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">8,642</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">Reverse repurchase agreements</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">35 </font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">26</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">294</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">11,554</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">Other term loans</font></font></p>
  </td>
 <td nowrap width=14% 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=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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">332,160</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">324,767</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">313,336</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=44% 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=EN-US style="font-size:8.0pt;">Advances that
  are not loans</font></font></p>
  </td>
 <td nowrap width=14% 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=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,784</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3,794</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,989</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=44% style="background:#5AC4C4;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 </font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">382,360</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">374,027</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">387,621</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:avoid;text-align:justify;"><a name="XBRL_TS_e051c79b758841038f064a71e"></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%;">The
following table sets forth a breakdown of the gross carrying amount &quot;Loans
and advances to customers&quot; with maturity greater than one year by fixed
and variable rate as of December 31, 2019:</font></font><a name="XBRL_TS_e051c79b758841038f064a71e_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_14.3_003_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:24.0pt;">
  <td colspan=4 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">'Interest
  sensitivity of outstanding loans and advances maturing in more than one year
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=31% 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=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=20% 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=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=23% style="border:none;height:12.0pt;padding:0cm 27.0pt 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=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=26% style="border:none;height:12.0pt;padding:0cm 36.0pt 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=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=31% 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=#0066CC face=Arial,sans-serif style="border:none;"><b><font color=#0066CC face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Domestic</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Foreign</font></b></font></p>
  </td>
 <td width=26% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:8.0pt;">Fixed rate</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 style="font-size:8.0pt;">55,920</font></font></p>
  </td>
 <td nowrap width=23% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">68,915</font></font></p>
  </td>
 <td nowrap width=26% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">124,835</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:8.0pt;">Variable rate</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 style="font-size:8.0pt;">79,329</font></font></p>
  </td>
 <td nowrap width=23% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">97,765</font></font></p>
  </td>
 <td nowrap width=26% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">177,095</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=31% style="background:#5AC4C4;border:none;border-bottom:solid 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</font></b></font></p>
  </td>
 <td width=20% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">135,249</font></b></font></p>
  </td>
 <td width=23% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">166,680</font></b></font></p>
  </td>
 <td width=26% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">301,929</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_61b2f71b52684f5da093585a5"></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%;">As of
December 31, 2019, 2018 and 2017, 41%, 38% and 38%, respectively, of
&quot;Loans and advances to customers&quot; with maturity greater than one year
have fixed-interest rates and 59%, 62% and 62%, 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:8.0pt;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;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%;">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_61b2f71b52684f5da093585a5_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalance_6.3.1_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Securitized
  loans (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=49% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=49% 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;">Securitized mortgage
  assets</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">26,169</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">26,556</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">28,950</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=49% 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;">Other securitized
  assets</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,249</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,221</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,143</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=49% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total securitized
  assets</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">30,418</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">29,777</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">33,093</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:avoid;text-align:justify;"><a name="XBRL_TS_329b4719a22a48d8876c60787"></a><a name="_Toc457490022"></a><a name="_Toc474142259"></a><a name="_Toc481589077"></a><a name="_Toc495478129"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">15.&#160;&#160;
Hedging derivatives and fair value changes of the hedged items in portfolio
hedges of interest rate risk</font></b></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:8.0pt;line-height:115%;">The balance
of these headings in the accompanying consolidated balance sheets is as
follows:</font></font><a name="XBRL_TS_329b4719a22a48d8876c60787_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalance_007_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=5 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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:12.75pt;">
  <td width=55% 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=#44546A face=Arial,sans-serif style="border:none;"><b><font color=#44546A face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&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=#44546A face=Arial,sans-serif style="border:none;"><b><font color=#44546A face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=55% style="background:#5AC4C4;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:7.0pt;">ASSETS</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 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:#5AC4C4;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 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=11% style="background:#5AC4C4;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 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=11% style="background:#5AC4C4;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 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>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=55% 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 style="font-size:7.0pt;">Derivatives - Hedge accounting</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:11.25pt;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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:7.0pt;">1,729</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 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 style="font-size:7.0pt;">2,485</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=55% 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=EN-US 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 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=EN-US style="font-size:7.0pt;">&nbsp;</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 style="font-size:7.0pt;">28</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 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 style="font-size:7.0pt;">(25)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=55% style="background:#5AC4C4;border:none;border-bottom:solid 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;">LIABILITIES</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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 style="font-size:7.0pt;">Hedging derivatives</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=#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=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 style="font-size:7.0pt;">2,233</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 style="font-size:7.0pt;">2,680</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 style="font-size:7.0pt;">2,880</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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=EN-US 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: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=EN-US style="font-size:7.0pt;">&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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">(7)</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-105</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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>


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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;"><a name="XBRL_TS_d715d7c6295d4ea2977b854a7"></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%;">As of
December 31, 2019, 2018 and 2017, 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:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Fair value hedging:</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=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:8.0pt;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;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">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.</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=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:8.0pt;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;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:10.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:8.0pt;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;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:10.0pt;margin-left:2.0cm;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><font color=#666666 face=Symbol style="border:none;"><font color=#666666 face=Symbol lang=EN-US style="font-size:8.0pt;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;&nbsp;&nbsp;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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;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%;">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_d715d7c6295d4ea2977b854a7_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_15.1_008_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:24.0pt;">
  <td colspan=7 nowrap 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=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Derivatives -
  Hedge accounting breakdown by type of risk and type of hedge. </font></font><font color=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif style="font-size:8.0pt;">(Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td nowrap 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 style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 nowrap 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 style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td colspan=2 nowrap 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 style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td colspan=2 nowrap 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 style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=34% 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;"><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:12.75pt;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;">Assets</font></b></font></p>
  </td>
 <td nowrap width=11% 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=right style="border:none;margin:0cm;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;">Liabilities</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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:12.75pt;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;">Liabilities</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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:12.75pt;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;">Liabilities</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Interest rate</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">920</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">488</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">982</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">513</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">1,141</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">850</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:8.0pt;">OTC </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 style="font-size:8.0pt;">920</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 style="font-size:8.0pt;">488</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 style="font-size:8.0pt;">982</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 style="font-size:8.0pt;">513</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 style="font-size:8.0pt;">1,141</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 style="font-size:8.0pt;">850</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:8.0pt;">Organized market </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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Equity</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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;">3</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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:12.75pt;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;">-</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:8.0pt;">OTC </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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">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 style="font-size:8.0pt;">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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:8.0pt;">Organized market</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Foreign exchange
  and gold</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">420</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">316</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">587</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">398</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">625</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">511</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:8.0pt;">OTC</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 style="font-size:8.0pt;">420</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 style="font-size:8.0pt;">316</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 style="font-size:8.0pt;">587</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 style="font-size:8.0pt;">398</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 style="font-size:8.0pt;">625</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 style="font-size:8.0pt;">511</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:8.0pt;">Organized market</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Credit</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Commodities</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Other</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">FAIR VALUE HEDGES</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">1,341</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">808</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">1,575</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">912</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">1,766</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">1,362</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Interest rate</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">224</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">850</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">221</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">562</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">244</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">533</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:8.0pt;">OTC </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 style="font-size:8.0pt;">224</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 style="font-size:8.0pt;">839</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 style="font-size:8.0pt;">219</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 style="font-size:8.0pt;">562</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 style="font-size:8.0pt;">242</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 style="font-size:8.0pt;">533</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:8.0pt;">Organized market</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">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 style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</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 style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Equity</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:8.0pt;">OTC </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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:8.0pt;">Organized market</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Foreign exchange
  and gold</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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:12.75pt;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;">18</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">873</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">119</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">714</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:8.0pt;">OTC </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 style="font-size:8.0pt;">115</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 style="font-size:8.0pt;">18</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 style="font-size:8.0pt;">955</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 style="font-size:8.0pt;">873</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 style="font-size:8.0pt;">119</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 style="font-size:8.0pt;">714</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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:8.0pt;">Organized market</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Credit</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Commodities</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Other</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">CASH FLOW HEDGES</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">339</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">868</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">1,176</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">1,435</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">363</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">1,247</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 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=EN-US style="font-size:8.0pt;">HEDGE OF NET
  INVESTMENTS IN A FOREIGN OPERATION</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">12</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">242</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">92</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">231</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">301</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">15</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 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=EN-US style="font-size:8.0pt;">PORTFOLIO
  FAIR VALUE HEDGES OF INTEREST RATE RISK</font></b></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:8.0pt;">37</font></b></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:8.0pt;">216</font></b></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:8.0pt;">33</font></b></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:8.0pt;">90</font></b></font></p>
  </td>
 <td nowrap width=11% 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 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: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 style="font-size:8.0pt;">256</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.75pt;">
  <td width=34% style="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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">PORTFOLIO
  CASH FLOW HEDGES OF INTEREST RATE RISK</font></b></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">1</font></b></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">99</font></b></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">15</font></b></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">12</font></b></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">9</font></b></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:17.25pt;">
  <td width=34% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">DERIVATIVES-HEDGE
  ACCOUNTING</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">1,729</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">2,233</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">2,892</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">2,680</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">2,485</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">2,880</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=34% 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=EN-US style="font-size:8.0pt;">of which: OTC
  - credit institutions</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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,423</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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,787</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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,534</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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,462</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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,829</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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,527</font></i></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=34% style="height:22.5pt;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=EN-US style="font-size:8.0pt;">of which: OTC
  - other financial corporations</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">306</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">426</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">355</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">216</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">651</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">234</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=34% 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:8.0pt;">of which: OTC -
  other</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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">8</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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2</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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2</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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2</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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">120</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-106</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_347"></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;"><a name="XBRL_TS_49b7c7d53a6a4682a720b68e0"></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%;">The cash
flows forecasts for the coming years for cash flow hedging recognized on the
accompanying consolidated balance sheet as of December 31, 2019 are:</font></font><a name="XBRL_TS_49b7c7d53a6a4682a720b68e0_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_15.1_006_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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=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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">3 months or less</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">From 3 months to 1 year</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">From 1 to 5 years</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">More than 5 years</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=35% 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;">Receivable cash
  inflows</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">447</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">488</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,076</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,061</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5,071</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=35% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Payable cash outflows</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">395</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">411</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,003</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5,032</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_847e94e8ab964499a1d03381e"></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%;">The above
cash flows will have an impact on the Group&#8217;s consolidated income statements
until 2057.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">In 2019, 2018 and
2017, 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:8.0pt;line-height:115%;">The amount for
derivatives designated as accounting hedges that did not pass the effectiveness
test in December 31, 2019, 2018 and 2017 were not material.</font></font><a name="Nota_16"></a><a name="Nota_16_bclEnd"></a><a name="XBRL_TS_847e94e8ab964499a1d03381e_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_6d36b7f151ae4f9e8666581fa"></a><a name="_Toc298431716"></a><a name="_Toc299029452"></a><a name="_Toc299031534"></a><a name="_Toc299032873"></a><a name="_Toc331260314"></a><a name="_Toc347755852"></a><a name="_Toc376949949"></a><a name="_Toc457490023"></a><a name="_Toc474142260"></a><a name="_Toc481589078"></a><a name="_Toc495478130"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">16.&#160;&#160; Investments in joint ventures and
associates</font></b></font><a name="_Toc298431717"></a><a name="_Toc299029453"></a><a name="_Toc299031535"></a><a name="_Toc299032874"></a><a name="_Toc331260315"></a><a name="_Toc347755853"></a><a name="_Toc376949950"></a></p>

<h2 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 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">16.1&#160;&#160; Joint
ventures and associates</font></b></font></h2>

<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:8.0pt;line-height:115%;">The
breakdown of the balance of &#8220;Investments in joint ventures and associates&#8221; in
the accompanying consolidated balance sheets is as follows:</font></font><a name="XBRL_TS_6d36b7f151ae4f9e8666581fa_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_16_002_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Joint
  ventures and associates. Breakdown by entities (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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=15% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=15% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Joint ventures</font></b></font></p>
  </td>
 <td width=15% 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 width=15% 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 width=14% 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:12.75pt;">
  <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=EN-US style="font-size:8.0pt;">Altura Markets
  S.V., S.A.</font></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:8.0pt;">73</font></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:8.0pt;">69</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">64</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:8.0pt;">RCI Colombia</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">37</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">32</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">19</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:8.0pt;">Desarrollo
  Metropolitanos del Sur, S.L.</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">14</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">13</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">12</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:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">30</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">59</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">160</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="background:#5AC4C4;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;">Subtotal</font></b></font></p>
  </td>
 <td width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">154</font></b></font></p>
  </td>
 <td width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">173</font></b></font></p>
  </td>
 <td width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">256</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Associates</font></b></font></p>
  </td>
 <td width=15% 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 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=15% 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 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=14% 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 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:12.75pt;">
  <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 style="font-size:8.0pt;">Divarian Propiedad,
  S.A.U.</font></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:8.0pt;">630</font></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:8.0pt;">591</font></font></p>
  </td>
 <td nowrap width=14% 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 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 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Metrovacesa, S.A.</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">443</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">508</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">697</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:8.0pt;">ATOM Bank PLC</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">136</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">138</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">66</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:8.0pt;">Solarisbank AG</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">36</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">37</font></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;"><font color=black face=Arial,sans-serif 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 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Cofides</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">23</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">22</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">21</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:8.0pt;">Redsys servicios de
  procesamiento, S.L.</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">14</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">12</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">10</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:8.0pt;">Servicios Electr&#243;nicos
  Globales S.A. de CV</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">11</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">9</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6</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:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">41</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">88</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">533</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="background:#5AC4C4;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;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,334</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,405</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,332</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,488</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,578</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,588</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-107</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_348"></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:8.0pt;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_61f95479a2374d079d6fbafd0"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Details of the joint ventures
and associates as of December 31, 2019 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;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%;">The following is a summary of the
changes in the in December 31, 2019, 2018 and 2017 under this heading in the
accompanying consolidated balance sheets:</font></font><a name="XBRL_TS_61f95479a2374d079d6fbafd0_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_16_003_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Joint
  ventures and associates. Changes in the year (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:22.9pt;">
  <td width=52% 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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=52% style="background:#5AC4C4;border:none;border-bottom:solid 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;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,578</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,588</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">765</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=52% 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;">Acquisitions and
  capital increases</font></font></p>
  </td>
 <td nowrap width=12% 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=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 style="font-size:8.0pt;">161</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 style="font-size:8.0pt;">309</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 style="font-size:8.0pt;">868</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=52% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Disposals and capital
  reductions</font></font></p>
  </td>
 <td nowrap width=12% 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=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 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 style="font-size:8.0pt;">(516)</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 style="font-size:8.0pt;">(8)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=52% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Transfers and
  changes of consolidation method</font></font></p>
  </td>
 <td nowrap width=12% 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=EN-US 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 style="font-size:8.0pt;">(27)</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 style="font-size:8.0pt;">211</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=52% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Share of profit
  and loss</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">39</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 style="font-size:8.0pt;">(42)</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 style="font-size:8.0pt;">(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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=52% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Exchange differences</font></font></p>
  </td>
 <td nowrap width=12% 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=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 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 style="font-size:8.0pt;">2</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 style="font-size:8.0pt;">(29)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=52% 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=EN-US style="font-size:8.0pt;">Dividends,
  valuation adjustments and others</font></font></p>
  </td>
 <td nowrap width=12% 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=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">(43)</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 style="font-size:8.0pt;">(8)</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 style="font-size:8.0pt;">(12)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=52% style="background:#5AC4C4;border:none;border-bottom:solid 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;">Balance at the end </font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,488</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,578</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,588</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_eddd179b67cd45288f0cc8629"></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%;">The
variation during the year 2017 was 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:0cm;margin-bottom: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%;">The variation during the year 2018
was mainly explained by the decrease of BBVA Group stakes in Testa Residencial,
S.A., Metrovacesa Suelo y Promoci&#243;n, S.A. and the contribution of assets and
subsequent sale to Cerberus of 80% of the capital stake in 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;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%;">During the year 2019, there was no significant change in the
heading &#8220;Investment in joint ventures and associates&#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:8.0pt;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.<a name="_Toc106014"></a><a name="_Toc106015"></a></font></font></p>

<h2 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 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">16.2&#160;&#160; Other
information about associates and joint ventures </font></b></font></h2>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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:8.0pt;line-height:115%;">As of December 31,
2019, 2018 and 2017 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:8.0pt;line-height:115%;">As of December 31,
2019, 2018 and 2017 there was no contingent liability in connection with the
investments in joint ventures and associates (see Note 53.2). </font></font></p>

<h2 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 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">16.3&#160;&#160;
Impairment</font></b></font></h2>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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, 2019, 2018 and 2017, there
were no significant impairments recognized.</font></font><a name="XBRL_TS_eddd179b67cd45288f0cc8629_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_57595ec593d44c57a5acead15"></a><a name="_Toc457490024"></a><a name="_Toc474142264"></a><a name="_Toc481589079"></a><a name="_Toc495478131"></a><a name="_Toc505355950"></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-108</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_349"></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:11.0pt;">17.&#160;&#160;
Tangible assets</font></b></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:8.0pt;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_57595ec593d44c57a5acead15_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_17.1_001_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:22.5pt;">
  <td colspan=11 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Tangible
  assets: Breakdown by type of assets and changes in the year 2019. </font></font><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">(Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td valign=bottom width=25% style="border:none;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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 width=25% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=2% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Right to use asset</font></b></font><sup><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">(*)</font></b></font></sup></p>
  </td>
 <td rowspan=3 width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Investment properties</font></b></font></p>
  </td>
 <td rowspan=3 width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Assets leased out under an operating lease</font></b></font></p>
  </td>
 <td rowspan=3 width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td rowspan=2 width=25% 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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td rowspan=2 width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Notes</font></b></font></p>
  </td>
 <td rowspan=2 width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Land and buildings</font></b></font></p>
  </td>
 <td rowspan=2 width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Work in progress</font></b></font></p>
  </td>
 <td rowspan=2 width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Furniture, fixtures and vehicles</font></b></font></p>
  </td>
 <td width=2% style="height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Own use</font></b></font></p>
  </td>
 <td rowspan=2 width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Investment properties</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=25% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Cost </font></b></font></p>
  </td>
 <td nowrap width=8% 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;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=2% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=25% style="background:#5AC4C4;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 style="font-size:8.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">5,939</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">70</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">6,314</font></b></font></p>
  </td>
 <td nowrap width=2% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:11.25pt;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">201</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">386</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">12,910</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=25% 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 style="font-size:8.0pt;">Additions</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">90</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">63</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">335</font></font></p>
  </td>
 <td nowrap width=2% style="border:none;height:11.25pt;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=8% 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 style="font-size:8.0pt;">3,574</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">101</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">12</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">4,175</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td 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 style="font-size:8.0pt;">Retirements</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">(44)</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">(20)</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">(302)</font></font></p>
  </td>
 <td nowrap width=2% style="height:11.25pt;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=8% 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 style="font-size:8.0pt;">(57)</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">(10)</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">(433)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td 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=EN-US style="font-size:8.0pt;">Acquisition of
  subsidiaries in the year </font></font></p>
  </td>
 <td nowrap width=8% 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=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=2% style="height:11.25pt;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=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td 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=EN-US style="font-size:8.0pt;">Disposal of
  entities in the year</font></font></p>
  </td>
 <td nowrap width=8% 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=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=2% style="height:11.25pt;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=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td 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 style="font-size:8.0pt;">Transfers</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">(41)</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">(51)</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">(8)</font></font></p>
  </td>
 <td nowrap width=2% style="height:11.25pt;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=8% 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 style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">13</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">(88)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=25% 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 style="font-size:8.0pt;">Exchange difference
  and other</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">57</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">(6)</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">12</font></font></p>
  </td>
 <td nowrap width=2% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">(49)</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">14</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=25% style="background:#5AC4C4;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 style="font-size:8.0pt;">Balance at the end</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">6,001</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">56</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">6,351</font></b></font></p>
  </td>
 <td nowrap width=2% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:11.25pt;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">3,516</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">101</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">216</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">337</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">16,578</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom width=25% 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=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=2% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=25% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Accrued
  depreciation </font></b></font></p>
  </td>
 <td nowrap width=8% 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;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=2% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=25% style="background:#5AC4C4;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 style="font-size:8.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">1,138</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">4,212</font></b></font></p>
  </td>
 <td nowrap width=2% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:11.25pt;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">11</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">76</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">5,437</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=25% 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 style="font-size:8.0pt;">Additions</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">45</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">126</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">457</font></font></p>
  </td>
 <td nowrap width=2% style="border:none;height:11.25pt;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=8% 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 style="font-size:8.0pt;">381</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">11</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">979</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td 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 style="font-size:8.0pt;">Retirements</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">(38)</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">(255)</font></font></p>
  </td>
 <td nowrap width=2% style="height:11.25pt;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=8% 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 style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">(296)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td 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=EN-US style="font-size:8.0pt;">Acquisition of
  subsidiaries in the year </font></font></p>
  </td>
 <td nowrap width=8% 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=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=2% style="height:11.25pt;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=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td 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=EN-US style="font-size:8.0pt;">Disposal of
  entities in the year</font></font></p>
  </td>
 <td nowrap width=8% 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=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=2% style="height:11.25pt;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=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td 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 style="font-size:8.0pt;">Transfers</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">(16)</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">(13)</font></font></p>
  </td>
 <td nowrap width=2% style="height:11.25pt;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=8% 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 style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">(30)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=25% 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 style="font-size:8.0pt;">Exchange difference
  and other</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">43</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(57)</font></font></p>
  </td>
 <td nowrap width=2% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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=8% 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 style="font-size:8.0pt;">(7)</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">(23)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=25% style="background:#5AC4C4;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 style="font-size:8.0pt;">Balance at the end</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">1,253</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">4,344</font></b></font></p>
  </td>
 <td nowrap width=2% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:11.25pt;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">370</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">11</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">15</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">74</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">6,067</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom width=25% 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=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=2% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=25% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Impairment </font></b></font></p>
  </td>
 <td nowrap width=8% 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;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=2% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=25% style="background:#5AC4C4;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 style="font-size:8.0pt;">Balance at the beginning</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">217</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=2% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:11.25pt;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">27</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">244</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=25% 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 style="font-size:8.0pt;">Additions</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">48</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">14</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">20</font></font></p>
  </td>
 <td nowrap width=2% style="border:none;height:11.25pt;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=8% 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 style="font-size:8.0pt;">60</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">94</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td 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 style="font-size:8.0pt;">Retirements</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=2% style="height:11.25pt;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=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td 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=EN-US style="font-size:8.0pt;">Acquisition of
  subsidiaries in the year</font></font></p>
  </td>
 <td nowrap width=8% 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=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=2% style="height:11.25pt;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=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td 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=EN-US style="font-size:8.0pt;">Disposal of
  entities in the year</font></font></p>
  </td>
 <td nowrap width=8% 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=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=2% style="height:11.25pt;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=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td 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 style="font-size:8.0pt;">Transfers</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">(16)</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=2% style="height:11.25pt;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=8% 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 style="font-size:8.0pt;">127</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">14</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">(4)</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">121</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=25% 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 style="font-size:8.0pt;">Exchange difference
  and other</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(20)</font></font></p>
  </td>
 <td nowrap width=2% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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=8% 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 style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">(13)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=25% style="background:#5AC4C4;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 style="font-size:8.0pt;">Balance at the end</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">212</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=2% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:11.25pt;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">191</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">14</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">26</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">443</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=25% 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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif 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:13.5pt;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;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=2% 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 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=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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Net tangible assets</font></b></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=2% 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=25% 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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif 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:13.5pt;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;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=2% 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 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=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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Balance at the
  beginning </font></b></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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 style="font-size:8.0pt;">4,584</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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 style="font-size:8.0pt;">70</font></b></font></p>
  </td>
 <td nowrap 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">2,102</font></b></font></p>
  </td>
 <td nowrap width=2% 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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 style="font-size:8.0pt;">163</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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 style="font-size:8.0pt;">310</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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 style="font-size:8.0pt;">7,229</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Balance at the end</font></b></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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 style="font-size:8.0pt;">4,536</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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 style="font-size:8.0pt;">56</font></b></font></p>
  </td>
 <td nowrap 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">2,007</font></b></font></p>
  </td>
 <td nowrap width=2% 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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 style="font-size:8.0pt;">2,955</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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 style="font-size:8.0pt;">76</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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 style="font-size:8.0pt;">175</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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 style="font-size:8.0pt;">263</font></b></font></p>
  </td>
 <td nowrap width=8% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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 style="font-size:8.0pt;">10,068</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_53f92cb9f82a4f8aa6a588bd2"></a><a name="XBRL_FS_69f2756ed315426f81c361d03"></a><a name="XBRL_FS_05937d9a2249412da064cc096"></a><a name="XBRL_FS_83dba1d5435f4dca8df9d39d3"></a><a name="XBRL_TS_acf3fb2079db439a992c48fa4"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*)&#160;&#160; The right to use is
included at the date of implementation of IFRS 16 as of January 1, 2019. The
right to use asset consists mainly of the rental of commercial real estate
premises for central services and the network branches located in the countries
where the Group operates whose average term is between 5 and 20 years. The
clauses included in rental contracts correspond to a large extent to rental
contracts under normal market conditions in the country where the property is
rented (see Note 2.3). During 2019, there have been no significant changes in
the right to use assets for leases.</font></font><a name="XBRL_FS_05937d9a2249412da064cc096_bclEnd"></a><a name="XBRL_FS_53f92cb9f82a4f8aa6a588bd2_bclEnd"></a><a name="XBRL_FS_69f2756ed315426f81c361d03_bclEnd"></a><a name="XBRL_FS_83dba1d5435f4dca8df9d39d3_bclEnd"></a><a name="XBRL_TS_acf3fb2079db439a992c48fa4_bclEnd"></a></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-109</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_17.1_002_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Tangible assets. Breakdown by type of assets and changes in the
  year 2018 (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 nowrap valign=bottom 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=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#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 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 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=#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 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 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=#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 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 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=#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 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 height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td style="background:#5AC4C4;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;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;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 style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">5,490</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">234</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">6,628</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">12,352</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">228</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">492</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">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 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;">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 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 style="font-size:8.0pt;">445</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 style="font-size:8.0pt;">78</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 style="font-size:8.0pt;">404</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 style="font-size:8.0pt;">927</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 style="font-size:8.0pt;">11</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 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 style="font-size:8.0pt;">938</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;">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 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 style="font-size:8.0pt;">(98)</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 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 style="font-size:8.0pt;">(492)</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 style="font-size:8.0pt;">(607)</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 style="font-size:8.0pt;">(149)</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 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 style="font-size:8.0pt;">(757)</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=EN-US 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 lang=EN-US 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 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 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 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 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 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 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 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 lang=EN-US 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 lang=EN-US 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 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 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 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 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 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 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 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;">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 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 style="font-size:8.0pt;">64</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 style="font-size:8.0pt;">(177)</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 style="font-size:8.0pt;">(12)</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 style="font-size:8.0pt;">(125)</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 style="font-size:8.0pt;">(5)</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 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 style="font-size:8.0pt;">(130)</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 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 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 style="font-size:8.0pt;">38</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 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 style="font-size:8.0pt;">(214)</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 style="font-size:8.0pt;">(224)</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 style="font-size:8.0pt;">116</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 style="font-size:8.0pt;">(105)</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 style="font-size:8.0pt;">(213)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td style="background:#5AC4C4;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;">Balance at the end</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;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 style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">5,939</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">70</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">6,314</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">12,323</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">201</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">386</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">12,910</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 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 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=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 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=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 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=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 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=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 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=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 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=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 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=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 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#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 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 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=#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 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 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=#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 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 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=#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 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 height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td style="background:#5AC4C4;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;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;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 style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,076</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">&#160;-&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">4,380</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">5,456</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">13</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">77</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">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 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;">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 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 style="font-size:8.0pt;">120</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 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 style="font-size:8.0pt;">469</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 style="font-size:8.0pt;">589</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 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 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 style="font-size:8.0pt;">594</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;">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 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 style="font-size:8.0pt;">(36)</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 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 style="font-size:8.0pt;">(403)</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 style="font-size:8.0pt;">(439)</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 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 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 style="font-size:8.0pt;">(447)</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=EN-US 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 lang=EN-US 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 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 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 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 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 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 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 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 lang=EN-US 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 lang=EN-US 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 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 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 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 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 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 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 style="font-size:8.0pt;">(3)</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;">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 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 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 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 style="font-size:8.0pt;">(22)</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 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 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 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 style="font-size:8.0pt;">(55)</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 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 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 style="font-size:8.0pt;">12</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 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 style="font-size:8.0pt;">(212)</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 style="font-size:8.0pt;">(200)</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 style="font-size:8.0pt;">3</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 style="font-size:8.0pt;">(1)</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 style="font-size:8.0pt;">(198)</font></font></p>
  </td>
 <td height=14 style="border:none;height:10.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td style="background:#5AC4C4;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;">Balance at the end</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;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 style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,138</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">4,212</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">5,350</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">11</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">76</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">5,437</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 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 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=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 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=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 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=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 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=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 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=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 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=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 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=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 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#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 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 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=#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 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 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=#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 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 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=#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 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 height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td style="background:#5AC4C4;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;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;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 style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">315</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">&#160;-&nbsp;</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">315</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">20</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">335</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 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 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 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 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 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 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 style="font-size:8.0pt;">(25)</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 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 style="font-size:8.0pt;">5</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;">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 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 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 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 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 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 style="font-size:8.0pt;">(27)</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 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 style="font-size:8.0pt;">(27)</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=EN-US 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 lang=EN-US 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 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 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 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 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 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 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 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 lang=EN-US 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 lang=EN-US 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 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 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 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 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 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 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 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;">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 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 style="font-size:8.0pt;">(77)</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 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 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 style="font-size:8.0pt;">(77)</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 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 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 style="font-size:8.0pt;">(80)</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 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 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 style="font-size:8.0pt;">(51)</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 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 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 style="font-size:8.0pt;">(51)</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 style="font-size:8.0pt;">62</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 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 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:13.5pt;">
  <td style="background:#5AC4C4;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;">Balance at the end</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;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 style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">217</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">217</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">27</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">244</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 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 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif 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 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 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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 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 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif 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=#094FA4 face=Arial,sans-serif style="border:none;"><b><font color=#094FA4 face=Arial,sans-serif 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 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 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 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 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 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 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 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 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 style="font-size:8.0pt;">7,191</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 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 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 style="font-size:8.0pt;">4,584</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 style="font-size:8.0pt;">70</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 style="font-size:8.0pt;">2,102</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 style="font-size:8.0pt;">6,756</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 style="font-size:8.0pt;">163</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 style="font-size:8.0pt;">310</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 style="font-size:8.0pt;">7,229</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 align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><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 style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-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 title="F_I_17.1_003_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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 nowrap valign=bottom 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=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=center style="border:none;margin:0cm;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 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=#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 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 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=#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 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 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=#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 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 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=#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 height=16 style="border:none;height:12.0pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap style="background:#5AC4C4;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;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;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 style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">6,176</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">240</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">7,059</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">13,473</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,163</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">958</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">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 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;">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 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 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 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 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 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 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 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 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 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;">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 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 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 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 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 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 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 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 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 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=EN-US 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 lang=EN-US 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 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 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 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 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 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 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 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=EN-US 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 lang=EN-US 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 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 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 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 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 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 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 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 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;">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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 nowrap style="background:#5AC4C4;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;">Balance at the end</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;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 style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">5,490</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">234</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">6,628</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">12,352</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">228</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">492</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">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 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 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 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=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 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=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 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=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 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=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 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=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 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=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 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=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 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#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 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 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=#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 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 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=#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 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 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=#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 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 height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap style="background:#5AC4C4;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;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;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 style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,116</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">4,461</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">5,577</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">63</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">216</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">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 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;">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 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 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 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 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 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 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 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 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 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;">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 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 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 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 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 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 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 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 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 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=EN-US 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 lang=EN-US 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 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 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 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 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 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 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 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=EN-US 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 lang=EN-US 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 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 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 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 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 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 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 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 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;">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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 nowrap style="background:#5AC4C4;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;">Balance at the end</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;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 style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,076</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">4,380</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">5,456</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">13</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">77</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">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 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 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 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=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 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=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 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=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 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=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 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=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 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=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 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=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 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#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 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 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=#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 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 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=#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 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 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=#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 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 height=18 style="border:none;height:13.5pt;">&nbsp;</td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap style="background:#5AC4C4;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;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;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 style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">379</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">379</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">409</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">10</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">798</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 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 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 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 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 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 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 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 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 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 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;">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 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 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 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 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 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 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 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 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: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=EN-US 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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 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 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 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 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 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 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 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=EN-US 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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 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 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 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 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 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 style="font-size:8.0pt;">(10)</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 style="font-size:8.0pt;">(10)</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;">Transfers</font></font></p>
  </td>
 <td nowrap 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 style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(58)</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 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 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 style="font-size:8.0pt;">(58)</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 style="font-size:8.0pt;">(276)</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 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 style="font-size:8.0pt;">(334)</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 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 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 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 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 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 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 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 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 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 nowrap style="background:#5AC4C4;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;">Balance at the end</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;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 style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">315</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">315</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">20</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">-</font></b></font></p>
  </td>
 <td nowrap style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">335</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 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;"><b><font color=#094FA4 face=Arial,sans-serif 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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">-</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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">-</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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">-</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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">-</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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">-</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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">-</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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">-</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 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=#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 style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">-</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">-</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">-</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">-</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">-</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">-</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">-</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=#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 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 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=#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 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 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=#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 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 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=#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 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 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=#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 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 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=#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 style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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 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 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=#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 style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;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;">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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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>



<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_84e5f152409d4124ba66d0307"></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%;">As of
December 31, 2019, 2018 and 2017, the cost of fully amortized tangible assets
that remained in use were &#8364;2,658 &#8364;2,624 and &#8364;2,660 million respectively while
its recoverable residual value was not significant.</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:8.0pt;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, 2019, 2018 and 2017:</font></font><a name="XBRL_TS_84e5f152409d4124ba66d0307_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_17.1_006_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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=55% 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 lang=EN-US 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 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=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=55% 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;">BBVA and Spanish
  subsidiaries</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">4,865</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 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 style="font-size:8.0pt;">2,574</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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 style="font-size:8.0pt;">Foreign subsidiaries</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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">5,203</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 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 style="font-size:8.0pt;">4,617</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=55% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">10,068</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">7,229</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">7,191</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:avoid;text-align:justify;"><a name="XBRL_TS_70724fa607ad485194297424b"></a><a name="_Toc457382016"></a><a name="_Toc481574670"></a><a name="_Toc495479971"></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-111</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</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">

<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:11.0pt;">18.&#160;&#160;
Intangible</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:11.0pt;"> 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;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">18.1&#160;&#160; Goodwill</font></b></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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The breakdown of the balance under
this heading in the accompanying consolidated balance sheets, according to the
cash-generating unit (hereinafter &#8220;CGU&#8221;) to which goodwill has been allocated,
is as follows:</font></font><a name="XBRL_TS_70724fa607ad485194297424b_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_18.1_001nueva_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td colspan=8 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=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif lang=EN-US 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:15.0pt;">
  <td width=26% 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=#44546A face=Arial,sans-serif style="border:none;"><b><font color=#44546A face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</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 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:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">Turkey</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 style="font-size:8.0pt;">Mexico</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 style="font-size:8.0pt;">Colombia</font></b></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=right style="border:none;margin:0cm;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;">Chile</font></b></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=right style="border:none;margin:0cm;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;">Other</font></b></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=right style="border:none;margin:0cm;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;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=26% 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=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 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=#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: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:8.0pt;">&nbsp;</font></b></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=right style="border:none;margin:0cm;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: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:8.0pt;">&nbsp;</font></b></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=right style="border:none;margin:0cm;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=10% 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:8.0pt;">&nbsp;</font></b></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=right style="border:none;margin:0cm;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>
 </tr>
<tr style="height:15.0pt;">
  <td width=26% style="background:#5AC4C4;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 style="font-size:8.0pt;">Balance as of
  December 31, 2016</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">5,503</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">624</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">523</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">191</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">68</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">28</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">6,937</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=26% 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:8.0pt;">Additions </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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">24</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">24</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=26% 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:8.0pt;">Exchange difference</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 style="font-size:8.0pt;">(666)</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 style="font-size:8.0pt;">(115)</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 style="font-size:8.0pt;">(44)</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 style="font-size:8.0pt;">(22)</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(3)</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(1)</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(851)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=26% 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:8.0pt;">Impairment</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 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 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 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 style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(4)</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(4)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=26% 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</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">(10)</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">(33)</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">(43)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=26% style="background:#5AC4C4;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 style="font-size:8.0pt;">Balance as of
  December 31, 2017</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">4,837</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">509</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">493</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">168</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">32</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">23</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">6,062</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=26% 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:8.0pt;">Additions </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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=26% 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:8.0pt;">Exchange difference</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 style="font-size:8.0pt;">229</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 style="font-size:8.0pt;">(127)</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 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 style="font-size:8.0pt;">(7)</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(3)</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">118</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=26% 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:8.0pt;">Impairment</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 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 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 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 style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=26% 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</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=26% style="background:#5AC4C4;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 style="font-size:8.0pt;">Balance as of December
  31, 2018</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">5,066</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">382</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">519</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">161</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">29</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">23</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">6,180</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=26% 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:8.0pt;">Additions </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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=26% 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:8.0pt;">Exchange difference</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 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 style="font-size:8.0pt;">(36)</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 style="font-size:8.0pt;">31</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 style="font-size:8.0pt;">3</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(2)</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(1)</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">93</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=26% 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:8.0pt;">Impairment</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 style="font-size:8.0pt;">(1,318)</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 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 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 style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(1,318)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=26% 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</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=26% style="background:#5AC4C4;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 style="font-size:8.0pt;">Balance as of
  December 31, 2019</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">3,846</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">346</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">550</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">164</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">27</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">22</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">4,955</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;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_210d4d1a83144e2ca1dac6348"></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:8.0pt;line-height:115%;">Goodwill in business combinations</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:8.0pt;line-height:115%;">There were no
significant business combinations during 2019, 2018 and 2017.</font></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;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Impairment Test</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 style="font-size:8.0pt;line-height:115%;">As mentioned in
Note 2.2.8</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">, the 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:8.0pt;line-height:115%;">The BBVA Group
performs estimations on the recoverable amount of certain CGU&#180;s by calculating
the value in use through the discounted value of future cash flows 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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The main hypotheses used for the value in use calculation are the
following:</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The forecast cash flows, including net interest margin, estimated
by the Group's management, and based on the latest available budgets for the next
3 to 5 years, considering the macroeconomic variables of each CGU, regarding
the existing balance structure as well as macroeconomic variables such as the
evolution of interest rates and the CPI of the geography where the CGU is
located, among others.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The constant sustainable growth rate for extrapolating cash flows,
starting in the third or fifth year, beyond the period covered by the budgets
or forecasts.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">The focus used by
the Group's management to determine the values of the assumptions is based both
on its projections and past experience. These values are verified and use
external sources of information, wherever possible. Additionally, the
valuations of the goodwill of the CGUs of The United States and Turkey have
been reviewed by independent experts (not the Group's external auditors).
However, certain changes to the valuation assumptions used could cause
differences in the impairment test result.</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-112</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">As a result of the goodwill impairment tests performed by the
Group as of December 31, 2019, the Group estimated impairment losses in the
United States CGU, which have been recognized under &#8220;Impairment or reversal of
impairment on non-financial assets - Intangible assets&#8221; in the accompanying
consolidated income statement as of December 31, 2019, assigned to the Group
Corporate Center. This impairment had a net negative impact on the &#8220;Profit for
the year &#8211; attributable to owners of the parent&#8221; of &#8364;1,318 million, which is
mainly as a result </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">of</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> the negative evolution of interest rates, especially in the
second half of the year, which accompanied by the slowdown of the economy
causes the expected evolution of results below the previous estimation. This
recognition does not affect the Tangible Net Equity or the solvency ratio of
the BBVA Group.</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:8.0pt;line-height:115%;">As of December 31, 2018 and 2017,
no impairment has been identified in any of the main CGUs.</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 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Goodwill - The United States CGU</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="background:white;border:none;"><font face=Arial,sans-serif lang=EN-US style="background:white;font-size:8.0pt;line-height:115%;">The Group&#8217;s most significant goodwill corresponds
to the CGU in the United States, the main significant assumptions used in the
impairment test of this mentioned CGU are:</font></font><a name="XBRL_TS_210d4d1a83144e2ca1dac6348_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_18.2_007anual_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Impairment
  test assumptions CGU goodwill in the United States </font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=60% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=60% 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:8.0pt;">Discount rate</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">10.0%</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">10.5%</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">10.0%</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=60% 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:8.0pt;">Sustainable growth
  rate</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3.5%</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4.0%</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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_27dceca95a73423191bbb9398"></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%;">In
accordance with paragraph 33.c of IAS 36, as of December 31, 2019, the Group
used a steady growth rate of 3.5% based on the real GDP growth rate of the
United States, the expected inflation and the potential growth of the banking
sector in the United States. This 3.5% rate is lower 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><a name="XBRL_TS_27dceca95a73423191bbb9398_bclEnd"></a></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;"><a name="XBRL_TS_90b14e77496f49aca477ba806"></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%;">The
assumptions with a greater relative weight and whose volatility could have a
greater impact 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 CGU recoverable amount as a
result of a reasonable variation (in basis points) of each of the key
assumptions as of December 31, 2019:</font></font><a name="XBRL_TS_90b14e77496f49aca477ba806_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_18.2_006anual_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Sensitivity
  analysis for main assumptions - The United States (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:36.0pt;">
  <td width=44% style="border:none;border-bottom:solid black 1.0pt;height:36.0pt;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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=28% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Increase of 50 basis points (*)</font></b></font></p>
  </td>
 <td width=28% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Decrease of 50 basis points (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=44% 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;">Discount rate</font></font></p>
  </td>
 <td nowrap width=28% 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 style="font-size:8.0pt;">(871)</font></font></p>
  </td>
 <td nowrap width=28% 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 style="font-size:8.0pt;">1,017</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=44% 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;">Sustainable growth
  rate</font></font></p>
  </td>
 <td nowrap width=28% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">340</font></font></p>
  </td>
 <td nowrap width=28% style="height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(292)</font></font></p>
  </td>
 </tr>
</table></div>



<p align=left style="border:none;margin-bottom:10.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:3.0pt;text-align:left;text-indent:-14.2pt;"><a name="XBRL_TS_bfda71e9ab0a42ff90f21ed68"></a><a name="XBRL_FS_040903d0bfca4e93b0c728cf3"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*)&#160;&#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><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_040903d0bfca4e93b0c728cf3_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="background:white;border:none;"><font face=Arial,sans-serif lang=EN-US style="background:white;font-size:8.0pt;line-height:115%;">Below is shown the increased (or decreased)
amount of the CGU recoverable amount as a result of a reasonable variation (in
basis points) of each of the key assumptions as of December 31, 2018 and 2017:</font></font><a name="XBRL_TS_bfda71e9ab0a42ff90f21ed68_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_18.2_006anual1817_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Sensitivity
  analysis for main assumptions - The United States (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=28% 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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=18% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Increase of 50 basis points 2018 (*)</font></b></font></p>
  </td>
 <td width=18% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Decrease of 50 basis points 2018 (*)</font></b></font></p>
  </td>
 <td width=18% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Increase of 50 basis point 2017 (*)</font></b></font></p>
  </td>
 <td width=18% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Decrease of 50 basis point 2017 (*)</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 style="font-size:8.0pt;">Discount rate</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 style="font-size:8.0pt;">(1,009)</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 style="font-size:8.0pt;">1,176</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 style="font-size:8.0pt;">(1,159)</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 style="font-size:8.0pt;">1,371</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 style="font-size:8.0pt;">Sustainable growth
  rate</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 style="font-size:8.0pt;">526</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 style="font-size:8.0pt;">(451)</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 style="font-size:8.0pt;">661</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 style="font-size:8.0pt;">(559)</font></font></p>
  </td>
 </tr>
</table></div>



<p align=left style="border:none;margin-bottom:10.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:3.0pt;text-align:left;text-indent:-14.2pt;"><a name="XBRL_TS_e572a8b3d9d14e648ee6ce725"></a><a name="XBRL_FS_402bc87aa2f44605bbc486f52"></a><a name="XBRL_FS_17dba279fd244c77844cb06ac"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*)&#160;&#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><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_17dba279fd244c77844cb06ac_bclEnd"></a><a name="XBRL_FS_402bc87aa2f44605bbc486f52_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;"><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Goodwill - Turkey CGU</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="background:white;border:none;"><font face=Arial,sans-serif lang=EN-US style="background:white;font-size:8.0pt;line-height:115%;">The main significant assumptions used in the
impairment test of the CGU of Turkey are:</font></font><a name="XBRL_TS_e572a8b3d9d14e648ee6ce725_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_18.2_009anual_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Impairment
  test assumptions CGU goodwill in Turkey</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 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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.45pt;">
  <td width=58% 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 style="font-size:8.0pt;">Discount rate</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">17.4%</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">24.3%</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">18.0%</font></font></p>
  </td>
 </tr>
<tr style="height:14.45pt;">
  <td width=58% 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;">Sustainable growth
  rate</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">7.0%</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">7.0%</font></font></p>
  </td>
 <td nowrap width=14% 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 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_6c001c116113471fb4dfd9495"></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-113</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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="background:white;border:none;"><font face=Arial,sans-serif lang=EN-US style="background:white;font-size:8.0pt;line-height:115%;">Given the potential growth of the sector in
Turkey, in accordance with paragraph 33.c of IAS 36, as of December 31, 2019,
2018 and 2017 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: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:8.0pt;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 as of December 31, 2019:</font></font><a name="XBRL_TS_6c001c116113471fb4dfd9495_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_18.2_010_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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=44% style="border:none;border-bottom:solid black 1.0pt;height:23.45pt;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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=28% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Impact of an increase of 50 basis points</font></b></font></p>
  </td>
 <td width=28% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=44% 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 style="font-size:8.0pt;">Discount rate</font></font></p>
  </td>
 <td nowrap width=28% 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 style="font-size:8.0pt;">(192)</font></font></p>
  </td>
 <td nowrap width=28% 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 style="font-size:8.0pt;">212</font></font></p>
  </td>
 </tr>
<tr style="height:13.9pt;">
  <td width=44% 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 style="font-size:8.0pt;">Sustainable growth
  rate</font></font></p>
  </td>
 <td nowrap width=28% 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 style="font-size:8.0pt;">31</font></font></p>
  </td>
 <td nowrap width=28% 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 style="font-size:8.0pt;">(28)</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;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_dae8bf2e51484f468e917c347"></a><font face=Arial,sans-serif style="background:white;border:none;"><font face=Arial,sans-serif lang=EN-US style="background:white;font-size:8.0pt;line-height:115%;">Below is shown the increased (or decreased) amount of the CGU
recoverable amount as a result of a reasonable variation (in basis points) of
each of the key assumptions as of December 31, 2018 and 2017:</font></font><a name="XBRL_TS_dae8bf2e51484f468e917c347_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_18.2_0101817_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Sensitivity
  analysis for main assumptions - Turkey (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=28% 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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=18% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Increase of 50 basis points 2018 (*)</font></b></font></p>
  </td>
 <td width=18% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Decrease of 50 basis points 2018 (*)</font></b></font></p>
  </td>
 <td width=18% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Increase of 50 basis point 2017 (*)</font></b></font></p>
  </td>
 <td width=18% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Decrease of 50 basis point 2017 (*)</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 style="font-size:8.0pt;">Discount rate</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 style="font-size:8.0pt;">(149)</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 style="font-size:8.0pt;">158</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 style="font-size:8.0pt;">(298)</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 style="font-size:8.0pt;">327</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 style="font-size:8.0pt;">Sustainable growth
  rate</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 style="font-size:8.0pt;">40</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 style="font-size:8.0pt;">(37)</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 style="font-size:8.0pt;">214</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 style="font-size:8.0pt;">(196)</font></font></p>
  </td>
 </tr>
</table></div>



<p align=left style="border:none;margin-bottom:10.0pt;margin-left:14.2pt;margin-right:33.75pt;margin-top:3.0pt;text-align:left;text-indent:-14.2pt;"><a name="XBRL_TS_9cdb877fe9044b848531c7ff0"></a><a name="XBRL_FS_28235168f4a34691ba8a94fba"></a><a name="XBRL_FS_a03095cf460b4a7cbcee061c1"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*)&#160;&#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><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_28235168f4a34691ba8a94fba_bclEnd"></a><a name="XBRL_FS_a03095cf460b4a7cbcee061c1_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;"><font color=#004580 face=Arial,sans-serif style="border:none;"><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Goodwill -&#160; Other CGUs</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 color=windowtext face=Arial,sans-serif style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The sensitivity
analysis on the main hypotheses carried out for the rest of the CGUs of the
Group indicate that their value in use would continue to exceed their book
value.</font></font><a name="XBRL_TS_9cdb877fe9044b848531c7ff0_bclEnd"></a></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-36.0pt;"><a name="XBRL_TS_f6178a4bb0f34fc1a28419410"></a><a name="_Toc376949953"></a><a name="_Toc376972361"></a><a name="_Toc474142267"></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;">18.2&#160;&#160; Other
intangible assets</font></b></font><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;"> &nbsp;</font></b></font></h2>

<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:8.0pt;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_f6178a4bb0f34fc1a28419410_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalance_010_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Other
  intangible assets (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.75pt;">
  <td width=53% 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=#44546A face=Arial,sans-serif style="border:none;"><b><font color=#44546A face=Arial,sans-serif lang=EN-US 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 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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;">Computer software
  acquisition expense</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=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 style="font-size:8.0pt;">1,598</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 style="font-size:8.0pt;">1,605</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 style="font-size:8.0pt;">1,682</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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=EN-US style="font-size:8.0pt;">Other
  intangible assets with an infinite useful life</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=EN-US 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 style="font-size:8.0pt;">11</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 style="font-size:8.0pt;">11</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 style="font-size:8.0pt;">12</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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=EN-US style="font-size:8.0pt;">Other
  intangible assets with a definite useful life</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=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">401</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 style="font-size:8.0pt;">518</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 style="font-size:8.0pt;">708</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=53% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">2,010</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">2,134</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">2,402</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_f1909d267af64582b5788cab5"></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%;">The changes
of this heading in December 31, 2019, 2018 and 2017, are as follows:</font></font><a name="XBRL_TS_f1909d267af64582b5788cab5_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_18.2_003anual_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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 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=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=56% style="background:#5AC4C4;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 style="font-size:8.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">2,134</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">2,402</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">2,849</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;">Additions</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">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 style="font-size:8.0pt;">552</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 style="font-size:8.0pt;">564</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 style="font-size:8.0pt;">Amortization in the
  year</font></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;"><font color=black face=Arial,sans-serif 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 style="font-size:8.0pt;">(620)</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 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 style="font-size:8.0pt;">(694)</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 style="font-size:8.0pt;">Exchange differences
  and other </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 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 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 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 style="font-size:8.0pt;">(305)</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 style="font-size:8.0pt;">Impairment</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=center style="border:none;margin: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;">48</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 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 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 style="font-size:8.0pt;">(12)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=56% style="background:#5AC4C4;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 style="font-size:8.0pt;">Balance at the end</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">2,010</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">2,134</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">2,402</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_04cb0be209cc46b783de2688c"></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%;">As of
December 31, 2019, 2018 and 2017, the cost of fully amortized intangible assets
that remained in use were &#8364;2,702 million, &#8364;2,412 million, and &#8364;1,969 million
respectively, while their recoverable value was not significant.</font></font><a name="XBRL_TS_04cb0be209cc46b783de2688c_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_240b5455703c47ca8c16b7e80"></a><a name="_Toc298431721"></a><a name="_Toc299029457"></a><a name="_Toc299031539"></a><a name="_Toc299032878"></a><a name="_Toc331260319"></a><a name="_Toc347755857"></a><a name="_Toc376949961"></a><a name="_Toc457490026"></a><a name="_Toc474142268"></a><a name="_Toc481589081"></a><a name="_Toc495478133"></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-114</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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: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:11.0pt;">19&#160;&#160; Tax
assets and liabilities</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;"><a name="_Toc376949955"></a><a name="_Toc376972363"></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:10.0pt;">19.1&#160;&#160;
Consolidated tax group</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:8.0pt;line-height:115%;">Pursuant to
current legislation, BBVA consolidated tax group in Spain 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:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">The Group&#8217;s
non-Spanish banks and subsidiaries file tax returns in accordance with the tax
legislation in force in each country.</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 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">19.2&#160;&#160; Years open for review by the
tax authorities</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:8.0pt;line-height:115%;">The years open to
review in the BBVA consolidated tax group in Spain as of December 31, 2019 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:8.0pt;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:8.0pt;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. These inspections did not result in any
material amount to record in the Consolidated Annual accounts as their impact
was previously provisioned for.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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></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-115</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_356"></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:avoid;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:10.0pt;">19.3&#160;&#160; Reconciliation</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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_240b5455703c47ca8c16b7e80_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_19_001_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Reconciliation
  of taxation at the Spanish corporation tax rate to the tax expense recorded
  for the year&nbsp;&#160; (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=43% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td colspan=2 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td colspan=2 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.9pt;">
  <td width=43% 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=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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Amount</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Amount</font></b></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">%</font></b></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">%</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=43% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Profit or (-)
  loss before tax</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">6,398</font></b></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=#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=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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">8,446</font></b></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=#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=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=43% 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 style="font-size:8.0pt;">From continuing
  operations</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 style="font-size:8.0pt;">6,398</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">8,446</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=43% 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 style="font-size:8.0pt;">From discontinued
  operations</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:20.45pt;">
  <td width=43% 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=EN-US style="font-size:8.0pt;">Taxation at
  Spanish corporation tax rate 30%</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 style="font-size:8.0pt;">1,920</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">2,534</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=43% 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=EN-US style="font-size:8.0pt;">Lower effective
  tax rate from foreign entities&#160; (*)</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 style="font-size:8.0pt;">(381)</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">(234)</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=43% 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;">Mexico </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 style="font-size:8.0pt;">(112)</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">27%</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 style="font-size:8.0pt;">(78)</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">28%</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">27%</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=43% 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;">Chile </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 style="font-size:8.0pt;">(2)</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">27%</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 style="font-size:8.0pt;">(18)</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">21%</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">21%</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=43% 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;">Colombia </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 style="font-size:8.0pt;">6</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">32%</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 style="font-size:8.0pt;">10</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">33%</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">29%</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=43% 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;">Peru </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 style="font-size:8.0pt;">(12)</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">(12)</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">28%</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">27%</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=43% 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;">Turkey</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 style="font-size:8.0pt;">(86)</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">23%</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 style="font-size:8.0pt;">(132)</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">20%</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">21%</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=43% 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;">Others (***)</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 style="font-size:8.0pt;">(175)</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">(4)</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=43% 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=EN-US style="font-size:8.0pt;">Revenues with
  lower tax rate (dividends/capital gains)</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 style="font-size:8.0pt;">(49)</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">(57)</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=43% 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;">Equity accounted earnings</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 style="font-size:8.0pt;">18</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=43% 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;">Other effects (**)</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 style="font-size:8.0pt;">545</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 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 style="font-size:8.0pt;">(27)</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 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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">457</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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=43% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Income tax</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">2,053</font></b></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=#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=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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">2,219</font></b></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=#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=9% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">2,174</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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=43% 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 style="font-size:8.0pt;">Of which:
  Continuing operations</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,053</font></i></font></p>
  </td>
 <td nowrap width=9% 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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,219</font></i></font></p>
  </td>
 <td nowrap width=9% 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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% 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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,174</font></i></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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=43% 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 style="font-size:8.0pt;">Of which:
  Discontinued operations</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=9% 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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=9% 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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">-</font></i></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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:21.25pt;margin-right:33.75pt;margin-top:6.0pt;page-break-after:avoid;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_TS_261e400511164fe4a5cfc3e9b"></a><a name="XBRL_FS_bd265ee010734d17aed99e589"></a><a name="XBRL_FS_f3a75725e26444d5a82b79e5c"></a><a name="XBRL_FS_4dae82161b2d40318a5779784"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*)&#160;&#160;&#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_4dae82161b2d40318a5779784_bclEnd"></a><a name="XBRL_FS_bd265ee010734d17aed99e589_bclEnd"></a><a name="XBRL_FS_f3a75725e26444d5a82b79e5c_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:21.25pt;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_0078ae3126444d2facd86ae02"></a><a name="XBRL_FS_30dea6f3647a43c3a19021a97"></a><a name="XBRL_FS_ec7fc5aedf37441d852cb82d5"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(**)&#160;&#160; The amount of 2019 is
generated as a result of the impact of the impairment of goodwill in The United
States' CGU (see Note 18.1).</font></font><a name="XBRL_FS_0078ae3126444d2facd86ae02_bclEnd"></a><a name="XBRL_FS_30dea6f3647a43c3a19021a97_bclEnd"></a><a name="XBRL_FS_ec7fc5aedf37441d852cb82d5_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:21.25pt;margin-right:5.65pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_f706e0bb839848ab9e71f2752"></a><a name="XBRL_FS_26fda0c4d5c1471d93d23503b"></a><a name="XBRL_FS_023d3cff0bcc4c3eb0c65f2ea"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(***)&#160; Includes mainly the
United States.</font></font><a name="XBRL_FS_023d3cff0bcc4c3eb0c65f2ea_bclEnd"></a><a name="XBRL_FS_26fda0c4d5c1471d93d23503b_bclEnd"></a><a name="XBRL_FS_f706e0bb839848ab9e71f2752_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:8.0pt;line-height:115%;">The effective income tax rate for the Group in the years ended
December 31, 2019, 2018 and 2017 is as follows:</font></font><a name="XBRL_TS_261e400511164fe4a5cfc3e9b_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_19_002_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Effective tax
  rate (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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=EN-US 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 align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></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 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;">Income from:</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=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: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 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 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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td 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=EN-US style="font-size:8.0pt;">Consolidated
  tax group in Spain</font></font></p>
  </td>
 <td nowrap width=11% 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=EN-US 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 style="font-size:8.0pt;">(718)</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 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 style="font-size:8.0pt;">(678)</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td 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;">Other Spanish
  entities</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 style="font-size:8.0pt;">7</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 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 style="font-size:8.0pt;">29</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 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Foreign entities</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 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 style="font-size:8.0pt;">7,109</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 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 style="font-size:8.0pt;">7,580</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=56% style="background:#5AC4C4;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=EN-US style="font-size:8.0pt;">Gains (losses)
  before taxes from continuing operations</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">6,398</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">8,446</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">6,931</font></b></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 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">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: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=EN-US 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 style="font-size:8.0pt;">2,053</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 style="font-size:8.0pt;">2,219</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 style="font-size:8.0pt;">2,174</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=56% style="background:#5AC4C4;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 style="font-size:8.0pt;">Effective tax rate</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">32.1%</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">26.3%</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">31.4%</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;"><a name="XBRL_TS_1a27eb855beb41cea8c0304af"></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%;">In the year
2019, in the main countries in which the Group has presence, there has been no
changes in the nominal tax rate on corporate income tax except for Colombia,
where the applicable tax rate is 33% compared to the 37% of the previous year.
In the year 2018, the changes in the nominal tax rate on corporate income tax,
in comparison with those existing in the previous years, in the main countries
in which the Group has a presence, have been in the 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%).</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 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">19.4&#160;&#160; Income tax recognized in
equity</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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_1a27eb855beb41cea8c0304af_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_19_003_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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=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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=EN-US 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 align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></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 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;">Charges to total
  equity</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=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: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 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 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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td 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 style="font-size:8.0pt;">Debt securities and
  others</font></font></p>
  </td>
 <td nowrap width=11% 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 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 style="font-size:8.0pt;">(130)</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 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 style="font-size:8.0pt;">(355)</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 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 instruments</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 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 style="font-size:8.0pt;">(40)</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 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 style="font-size:8.0pt;">(74)</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=56% style="background:#5AC4C4;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 style="font-size:8.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">(170)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">(143)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">(429)</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=56% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">(170)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">(143)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">(429)</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-116</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_357"></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:avoid;text-align:justify;"><a name="XBRL_TS_2f3f085c0dbe41d1a6161755b"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">19.5&#160;&#160;
Current and deferred taxes</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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_2f3f085c0dbe41d1a6161755b_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_19_004_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Tax assets
  and liabilities (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:24.95pt;">
  <td width=52% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Tax assets</font></b></font></p>
  </td>
 <td nowrap width=16% 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 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: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 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: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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=52% 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 style="font-size:8.0pt;">Current tax assets</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">1,765</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">2,784</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">2,163</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=52% 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;">Deferred tax assets </font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">15,318</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">15,316</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">14,725</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=52% 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;">Pensions</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">456</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">405</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">395</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=52% 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;">Financial
  Instruments</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">1,386</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">1,401</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">1,453</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=52% 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=EN-US style="font-size:8.0pt;">Other assets
  (investments in subsidiaries)</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">204</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">302</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">357</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=52% 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;">Loss allowances </font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">1,636</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">1,375</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">1,005</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=52% 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</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">841</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">990</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">870</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=52% 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;">Secured tax assets
  (*)</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">9,363</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">9,363</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">9,433</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=52% 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;">Tax losses</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">1,432</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">1,480</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">1,212</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=52% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;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 style="font-size:8.0pt;">17,083</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;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 style="font-size:8.0pt;">18,100</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;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 style="font-size:8.0pt;">16,888</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Tax liabilities</font></b></font></p>
  </td>
 <td nowrap width=16% 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 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: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 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: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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=52% 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 style="font-size:8.0pt;">Current tax
  liabilities</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">880</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">1,230</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">1,114</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=52% 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;">Deferred tax
  liabilities</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">1,928</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">2,046</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">2,184</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=52% 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;">Financial
  Instruments</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">1,014</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">1,136</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">1,427</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=52% 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;">Other</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">914</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">910</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">757</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td width=52% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;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 style="font-size:8.0pt;">2,808</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;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 style="font-size:8.0pt;">3,276</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;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 style="font-size:8.0pt;">3,298</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_8c28ecb9c13f43b4a1a5aeede"></a><a name="XBRL_FS_763f09a8a0cf4a1098cf876eb"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*)&#160;&#160; Law guaranteeing the
deferred tax assets has been approved in Spain in 2013. In 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_763f09a8a0cf4a1098cf876eb_bclEnd"></a></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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The most significant variations of
the deferred assets and liabilities in the years 2019, 2018 and 2017 derived
from the followings causes:</font></font><a name="XBRL_TS_8c28ecb9c13f43b4a1a5aeede_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_19_007_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Deferred tax
  assets and liabilities. Annual variations (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=32% style="border:none;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td colspan=2 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td colspan=2 width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.9pt;">
  <td width=32% 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=9% style="border:none;border-bottom:solid black 1.0pt;height:22.9pt;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 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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Deferred assets</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Deferred liabilities</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Deferred liabilities</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Deferred assets</font></b></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Deferred liabilities</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=32% style="background:#5AC4C4;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 style="font-size:8.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">15,316</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">2,046</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">14,725</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">2,184</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">16,391</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">3,392</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=32% 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 style="font-size:8.0pt;">Pensions</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">51</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">10</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">(795)</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=32% 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;">Financials
  instruments</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">(15)</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 style="font-size:8.0pt;">(122)</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 style="font-size:8.0pt;">(52)</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 style="font-size:8.0pt;">(291)</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 style="font-size:8.0pt;">82</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">(367)</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=32% 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;">Other assets</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">(98)</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">(55)</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">(305)</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=32% 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;">Loss allowances</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">261</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">370</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">(385)</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=32% 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;">Others</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">(149)</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 style="font-size:8.0pt;">4</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 style="font-size:8.0pt;">120</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 style="font-size:8.0pt;">153</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 style="font-size:8.0pt;">(366)</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">(841)</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=32% 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;">Guaranteed tax assets</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">(70)</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=32% 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;">Tax losses</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 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 style="font-size:8.0pt;">(48)</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 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 style="font-size:8.0pt;">268</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 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 style="font-size:8.0pt;">101</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=32% style="background:#5AC4C4;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 style="font-size:8.0pt;">Balance at the end</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">15,318</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">1,928</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">15,316</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">2,046</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">14,725</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">2,184</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:avoid;text-align:justify;"><a name="XBRL_TS_9b09a5cd30c347f89279657d9"></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%;">With respect
to the changes in assets and liabilities due to deferred tax in 2019 contained
in the above table, the following should be pointed out:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Secur</font></font><font color=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN style="font-size:8.0pt;line-height:115%;">ed tax assets maintain the same balance as in the previous year.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN style="font-size:8.0pt;line-height:115%;">The </font></font><font color=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">decrease</font></font><font color=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN style="font-size:8.0pt;line-height:115%;"> in tax losses occurs as a result of the review of the balance of
booked deferred taxes carried out on every accounting closing.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The evolution of the deferred tax assets and liabilities (without
taking into consideration the secured deferred tax asset and the tax losses) in
net terms is a decrease of &#8364;168 million mainly due to 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-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:8.0pt;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-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:8.0pt;line-height:115%;">As of December 31, 2019, 2018 and 2017, 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 473 million euros,
443 million euros and 376 million euros, respectively.</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-117</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_358"></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;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%;">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_9b09a5cd30c347f89279657d9_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_19_005_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Secured tax
  assets (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.15pt;">
  <td width=45% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017 (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=45% 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 style="font-size:8.0pt;">Pensions</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">1,924</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">1,924</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">1,947</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=45% 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;">Loss allowances</font></font></p>
  </td>
 <td nowrap width=13% 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=14% 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 style="font-size:8.0pt;">7,439</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">7,439</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">7,486</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=45% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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 style="font-size:8.0pt;">9,363</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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 style="font-size:8.0pt;">9,363</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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 style="font-size:8.0pt;">9,433</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:21.25pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_TS_85345ee919c54c9b81ee8d195"></a><a name="XBRL_FS_5fb1adad71104dfd8d67d4a36"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*)&#160;&#160; In 2017 guaranteed
deferred tax assets also existed in Portugal but in 2018 they lost the
guarantee.</font></font><a name="XBRL_FS_5fb1adad71104dfd8d67d4a36_bclEnd"></a></p>

<p style="border:none;margin-bottom:4.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;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;">As of December 31, 2019, non-guaranteed net deferred tax assets of
the above table amounted to &#8364;4,027 million (&#8364;3,907 and &#8364;3,108 million as of
December 31, 2018 and 2017 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;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Spain: Net deferred tax assets recognized in Spain totaled &#8364;2,447
million as of December 31, 2019 (&#8364;2,653 and &#8364;2,052 million as of December 31,
2018 and 2017, respectively). &#8364;1,420 million of the figure recorded in the year
ended December 31, 2019 for net deferred tax assets related to tax credits and
tax loss carry forwards and &#8364;1,027 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;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Mexico: Net deferred tax assets recognized in Mexico amounted to
&#8364;1,083 million as of December 31, 2019 (&#8364;826 and &#8364;615 million as of December
31, 2018 and 2017, respectively). Practically all of deferred tax assets as of
December 31, 2019 relate to temporary differences. The remainders are tax
credits carry forwards.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">South America: Net deferred tax assets recognized in South America
amounted to &#8364;84 million as of December 31, 2019 (&#8364;0.4 and &#8364;26 million as of
December 31, 2018 and 2017, respectively). Practically all the deferred tax
assets are related to temporary differences.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The United States: Net deferred tax assets recognized in the
United States amounted to 122 million as of December 31, 2019 (&#8364;164 and &#8364;180 as
of December 31, 2018 and 2017, respectively). All the deferred tax assets
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;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Turkey: Net deferred tax assets recognized in Turkey amounted to
&#8364;278 million as of December 31, 2019 (&#8364;250 and &#8364;224 million as of December 31,
2018 and 2017 respectively). As of December 31, 2019, all the deferred tax
assets correspond to &#8364;10 million of tax credits related to tax losses carry
forwards and deductions and &#8364;268 million relate to temporary differences.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">Based on the
information available as of December 31, 2019, including historical levels of
benefits and projected results available to the Group for the coming 15 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-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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; 2,207 million euros, which are mainly
originated by Catalunya Banc.</font></font><a name="XBRL_TS_85345ee919c54c9b81ee8d195_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_74bcd2593a6c487981a360097"></a><a name="_Toc457490027"></a><a name="_Toc474142274"></a><a name="_Toc481589082"></a><a name="_Toc495478134"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">20.&#160;&#160;
Other assets and liabilities</font></b></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:8.0pt;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_74bcd2593a6c487981a360097_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalance_012_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Other assets
  and liabilities: (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=51% 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=#44546A face=Arial,sans-serif style="border:none;"><b><font color=#44546A face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=51% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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: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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=13% 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 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=12% 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 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=12% 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 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:12.75pt;">
  <td width=51% 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;">Inventories</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">581</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 style="font-size:8.0pt;">635</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 style="font-size:8.0pt;">229</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=51% 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:8.0pt;">Of which:&#160; Real
  estate</font></i></font></p>
  </td>
 <td nowrap 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">579</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">633</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">226</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=51% 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;">Transactions in
  progress</font></font></p>
  </td>
 <td nowrap 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 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=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 style="font-size:8.0pt;">138</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 style="font-size:8.0pt;">249</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 style="font-size:8.0pt;">156</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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 style="font-size:8.0pt;">Accruals</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">&nbsp;</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">804</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 style="font-size:8.0pt;">702</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 style="font-size:8.0pt;">768</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=51% 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;">Prepaid expense</font></font></p>
  </td>
 <td nowrap 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=#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=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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">573</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">465</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">509</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=51% 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=EN-US style="font-size:8.0pt;">Other
  prepayments and accrued income</font></font></p>
  </td>
 <td nowrap 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">231</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">237</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">259</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=51% 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 items</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">2,277</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 style="font-size:8.0pt;">3,886</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 style="font-size:8.0pt;">3,207</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=51% style="background:#5AC4C4;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 other assets</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">3,800</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">5,472</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">4,359</font></b></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 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;">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=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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=13% 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=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 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=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 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:12.75pt;">
  <td width=51% 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;">Transactions in
  progress</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">39</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 style="font-size:8.0pt;">39</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 style="font-size:8.0pt;">165</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=51% 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;">Accruals</font></font></p>
  </td>
 <td nowrap 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 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=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 style="font-size:8.0pt;">2,456</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 style="font-size:8.0pt;">2,558</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 style="font-size:8.0pt;">2,490</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=51% 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;">Accrued expense</font></font></p>
  </td>
 <td nowrap 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=#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=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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">2,064</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">2,119</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">1,997</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=51% 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=EN-US style="font-size:8.0pt;">Other accrued
  expense and deferred income</font></font></p>
  </td>
 <td nowrap 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">392</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">439</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">493</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=51% 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 items</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">1,247</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 style="font-size:8.0pt;">1,704</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 style="font-size:8.0pt;">1,894</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=51% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total other
  liabilities</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">3,742</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">4,301</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">4,550</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:8.0pt;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:avoid;text-align:justify;"><a name="XBRL_TS_3e0e99e8f76b434fae7f30636"></a><a name="_Toc457490028"></a><a name="_Toc474142275"></a><a name="_Toc481589083"></a><a name="_Toc495478135"></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-118</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_359"></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:11.0pt;">21.&#160;&#160; Non-current assets and disposal groups
classified as held for sale</font></b></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:8.0pt;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_3e0e99e8f76b434fae7f30636_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalance_013_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:20.25pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Non-current
  assets and disposal groups classified as held for sale. </font></font><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">Breakdown by items (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=53% 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=#44546A face=Arial,sans-serif style="border:none;"><b><font color=#44546A 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 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">2019</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">2018</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=53% 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;">Foreclosures and
  recoveries (*)</font></font></p>
  </td>
 <td nowrap 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 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=12% 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 style="font-size:6.0pt;">1,647</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:6.0pt;">2,211</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:6.0pt;">6,207</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=53% 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 style="font-size:8.0pt;">Foreclosures</font></font></p>
  </td>
 <td nowrap 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">1,553</font></font></p>
  </td>
 <td nowrap width=12% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">2,135</font></font></p>
  </td>
 <td nowrap width=12% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">6,047</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=53% 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 style="font-size:8.0pt;">Recoveries from
  financial leases</font></font></p>
  </td>
 <td nowrap 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">94</font></font></p>
  </td>
 <td nowrap width=12% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">76</font></font></p>
  </td>
 <td nowrap width=12% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">160</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=53% 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;">Assets from tangible
  assets</font></font></p>
  </td>
 <td nowrap 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 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=12% 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 style="font-size:6.0pt;">310</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:6.0pt;">433</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:6.0pt;">447</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=53% 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;">Business sale -
  Assets (**)</font></font></p>
  </td>
 <td nowrap 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 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=12% 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 style="font-size:6.0pt;">1,716</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:6.0pt;">29</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:6.0pt;">18,623</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=53% 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;">Accrued amortization
  (***)</font></font></p>
  </td>
 <td nowrap 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 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=12% 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 style="font-size:6.0pt;">(51)</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:6.0pt;">(44)</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:6.0pt;">(77)</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap width=53% 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 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: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=12% 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 style="font-size:6.0pt;">(543)</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:6.0pt;">(628)</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:6.0pt;">(1,348)</font></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td width=53% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Total
  non-current assets and disposal groups classified as held for sale</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">3,079</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">2,001</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:6.0pt;">23,853</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;page-break-after:avoid;text-align:justify;text-indent:-21.3pt;"><a name="XBRL_TS_383614ed131647be8a3e7f8d6"></a><a name="XBRL_FS_975b530b8768481298a062186"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*)&#160;&#160;&#160; Corresponds mainly to
the agreement with Cerberus to transfer the &quot;Real Estate&quot; business in
Spain in 2018 (see Note 3).</font></font><a name="XBRL_FS_975b530b8768481298a062186_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:21.3pt;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;text-align:justify;text-indent:-21.3pt;"><a name="XBRL_FS_d07db9b6d9f64c7985074ee3e"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(**)&#160;&#160;
The 2019 balance corresponds mainly to the BBVA&#180;s stake in BBVA Paraguay and
2017 balance corresponds mainly to the BBVA&#180;s stake in BBVA Chile sold in 2018
(see Note 3).</font></font><a name="XBRL_FS_d07db9b6d9f64c7985074ee3e_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:21.25pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_5c15c0e3ae354cdabf7fb5da4"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(***)&#160; Amortization
accumulated until related asset reclassified as &#8220;non-current assets and
disposal groups classified as held for sale&#8221;.</font></font><a name="XBRL_FS_5c15c0e3ae354cdabf7fb5da4_bclEnd"></a></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:8.0pt;line-height:115%;">The changes
in the balances of &#8220;Non-current assets and disposal groups classified as held
for sale&#8221; in 2019, 2018 and 2017 are as follows:</font></font><a name="XBRL_TS_383614ed131647be8a3e7f8d6_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_21_002_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Non-current
  assets and disposal groups classified as held for sale. </font></font><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:6.0pt;">Changes in the year 2019 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=34% 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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Recovered assets from financial leases</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Cost&#160; (1)</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=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 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: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 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 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 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 style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=34% style="background:#5AC4C4;border:none;border-bottom:solid 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
  beginning</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">2,135</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">76</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">389</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">29</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">2,629</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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:6.0pt;">Additions </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: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 style="font-size:6.0pt;">597</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 style="font-size:6.0pt;">68</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 style="font-size:6.0pt;">10</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 style="font-size:6.0pt;">1,676</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 style="font-size:6.0pt;">2,351</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td nowrap 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;">Contributions from
  merger transactions</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">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 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 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 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 style="font-size:6.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td nowrap 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=EN-US style="font-size:6.0pt;">Retirements
  (sales and other decreases)</font></font></p>
  </td>
 <td nowrap 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=EN-US 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 style="font-size:6.0pt;">(967)</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 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 style="font-size:6.0pt;">(206)</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 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 style="font-size:6.0pt;">(1,229)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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=EN-US style="font-size:6.0pt;">Transfers,
  other movements and exchange differences</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=EN-US 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 style="font-size:6.0pt;">(214)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">11</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(131)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=34% style="background:#5AC4C4;border:none;border-bottom:solid 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</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">1,553</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">95</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">258</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">1,716</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">3,622</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 style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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;"><font color=#094FA4 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: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 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 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 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 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 style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Impairment&#160; (2)</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=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 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: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 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 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 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 style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=34% style="background:#5AC4C4;border:none;border-bottom:solid 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
  beginning</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">482</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">22</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">124</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">628</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td nowrap 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 style="font-size:6.0pt;">Additions </font></font></p>
  </td>
 <td nowrap 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 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 style="font-size:6.0pt;">66</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 style="font-size:6.0pt;">6</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 style="font-size:6.0pt;">5</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 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 style="font-size:6.0pt;">77</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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;">Contributions from
  merger transactions</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: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 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 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 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 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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=EN-US style="font-size:6.0pt;">Retirements
  (sales and other decreases)</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=EN-US 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 style="font-size:6.0pt;">(160)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(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 style="font-size:6.0pt;">(22)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(186)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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=EN-US style="font-size:6.0pt;">Other movements
  and exchange differences</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=EN-US 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 style="font-size:6.0pt;">(5)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:6.0pt;">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 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 style="font-size:6.0pt;">24</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=34% style="background:#5AC4C4;border:none;border-bottom:solid 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</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">383</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">28</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">132</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">543</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=34% style="background:#5AC4C4;border:none;border-bottom:solid 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=EN-US style="font-size:6.0pt;">Balance at the
  end of net carrying value (1)-(2)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">1,170</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">67</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">126</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">1,716</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">3,079</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;page-break-after:avoid;text-align:justify;text-indent:-21.3pt;"><a name="XBRL_TS_f9e727b2dcaf4b72aade85361"></a><a name="XBRL_FS_b5d82fb436cd4370b5b6858cd"></a><a name="XBRL_FS_513b5b5ccccc4817aebfc57de"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*)&#160;&#160;&#160; Net
of amortization accumulated until assets were reclassified as non-current
assets classified as held for sale.</font></font><a name="XBRL_FS_513b5b5ccccc4817aebfc57de_bclEnd"></a><a name="XBRL_FS_b5d82fb436cd4370b5b6858cd_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:21.25pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_637dce04f9064ddb9f104ef73"></a><a name="XBRL_FS_ad04835edb7d42e5b6cabc892"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(**)&#160;&#160; The variation
corresponds mainly to the agreement of the sale of BBVA Paraguay (see Note 3).</font></font><a name="XBRL_FS_637dce04f9064ddb9f104ef73_bclEnd"></a><a name="XBRL_FS_ad04835edb7d42e5b6cabc892_bclEnd"></a><a name="XBRL_TS_f9e727b2dcaf4b72aade85361_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-119</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_360"></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 title="F_I_21_003_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Non-current assets and disposal groups classified as held for
  sale. </font></font><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:6.0pt;">Changes in the year 2018 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=40% 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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Foreclosed assets</font></b></font></p>
  </td>
 <td rowspan=2 width=10% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">(*)</font></b></font></p>
  </td>
 <td rowspan=2 width=10% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td rowspan=2 width=10% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td width=40% 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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Notes</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Foreclosed assets through auction proceeding</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Recovered assets from financial leases</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=40% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Cost&#160; (1)</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=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 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 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:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&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 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:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&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 style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=40% style="background:#5AC4C4;border:none;border-bottom:solid 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
  beginning</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">6,047</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">160</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">371</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">18,623</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">25,201</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=40% 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:6.0pt;">Additions </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 style="font-size:6.0pt;">&nbsp;</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 style="font-size:6.0pt;">637</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 style="font-size:6.0pt;">55</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 style="font-size:6.0pt;">4</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">696</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=40% 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;">Contributions from
  merger transactions</font></font></p>
  </td>
 <td nowrap width=10% 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=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 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 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 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 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=40% 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=EN-US style="font-size:6.0pt;">Retirements
  (sales and other decreases)</font></font></p>
  </td>
 <td nowrap width=10% 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=EN-US style="font-size:6.0pt;">&nbsp;</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 style="font-size:6.0pt;">(4,354)</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 style="font-size:6.0pt;">(135)</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 style="font-size:6.0pt;">(227)</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 style="font-size:6.0pt;">(18,594)</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 style="font-size:6.0pt;">(23,310)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=40% 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=EN-US style="font-size:6.0pt;">Transfers,
  other movements and exchange differences</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=EN-US style="font-size:6.0pt;">&nbsp;</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 style="font-size:6.0pt;">(195)</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 style="font-size:6.0pt;">(4)</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 style="font-size:6.0pt;">241</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">42</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=40% style="background:#5AC4C4;border:none;border-bottom:solid 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</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">2,135</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">76</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">389</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">29</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">2,629</font></b></font></p>
  </td>
 </tr>
<tr style="height:6.75pt;">
  <td valign=bottom width=40% 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 style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% 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;"><font color=#094FA4 face=Arial,sans-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: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 style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=40% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Impairment&#160; (2)</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=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 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 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:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&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 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:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&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 style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=40% style="background:#5AC4C4;border:none;border-bottom:solid 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
  beginning</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">1,102</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">52</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">194</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">1,348</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap width=40% 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;">Additions </font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">50</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 style="font-size:6.0pt;">195</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 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 style="font-size:6.0pt;">2</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 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 style="font-size:6.0pt;">208</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=40% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Contributions from
  merger transactions</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:6.0pt;">&nbsp;</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=40% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Retirements
  (sales and other decreases)</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=EN-US style="font-size:6.0pt;">&nbsp;</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 style="font-size:6.0pt;">(793)</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 style="font-size:6.0pt;">(37)</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 style="font-size:6.0pt;">(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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">(931)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=40% 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=EN-US style="font-size:6.0pt;">Other movements
  and exchange differences</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=EN-US style="font-size:6.0pt;">&nbsp;</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 style="font-size:6.0pt;">(22)</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 style="font-size:6.0pt;">(4)</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 style="font-size:6.0pt;">29</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=40% style="background:#5AC4C4;border:none;border-bottom:solid 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</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">482</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">22</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">124</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">628</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=40% style="background:#5AC4C4;border:none;border-bottom:solid 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=EN-US style="font-size:6.0pt;">Balance at the
  end of net carrying value (1)-(2)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">1,653</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">54</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">265</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">29</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">2,001</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;page-break-after:avoid;text-align:justify;text-indent:-21.3pt;"><a name="XBRL_TS_faa2744e59c84709bf859abe5"></a><a name="XBRL_FS_b9310785c9674108a05a13cac"></a><a name="XBRL_FS_f54ee25feefc4ed886151379e"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*)&#160;&#160; Net of
amortization accumulated until assets were reclassified as non-current assets
classified as held for sale.</font></font><a name="XBRL_FS_b9310785c9674108a05a13cac_bclEnd"></a><a name="XBRL_FS_f54ee25feefc4ed886151379e_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:21.25pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_38e20f83fa2e49e59917cccf7"></a><a name="XBRL_FS_a54fe42bf153439ba7b079671"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(**)&#160; 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_FS_38e20f83fa2e49e59917cccf7_bclEnd"></a><a name="XBRL_FS_a54fe42bf153439ba7b079671_bclEnd"></a><a name="XBRL_TS_faa2744e59c84709bf859abe5_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_21_004_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Non-current
  assets and disposal groups classified as held for sale. </font></font><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:6.0pt;">Changes in the year 2017 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=35% 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:6.0pt;">&nbsp;</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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">(**)</font></b></font></p>
  </td>
 <td rowspan=2 width=10% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=35% 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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Recovered assets from financial leases</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=35% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Cost (1)</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=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 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: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 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 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 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:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=35% style="background:#5AC4C4;border:none;border-bottom:solid 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
  beginning</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">4,057</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">168</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">1,065</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">40</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">5,330</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=35% 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:6.0pt;">Additions </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: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 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 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 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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">837</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=35% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Contributions from
  merger transactions</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: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 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 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 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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap 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=EN-US style="font-size:6.0pt;">Retirements
  (sales and other decreases)</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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 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 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 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 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 style="font-size:6.0pt;">(1,217)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=35% 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=EN-US style="font-size:6.0pt;">Transfers,
  other movements and exchange differences</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=EN-US 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 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 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 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 style="font-size:6.0pt;">18,583</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 style="font-size:6.0pt;">20,251</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=35% style="background:#5AC4C4;border:none;border-bottom:solid 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</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">6,047</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">160</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">371</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">18,623</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">25,201</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=35% 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 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=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin: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 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 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 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 style="font-size:6.0pt;">&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 style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=35% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Impairment (2)</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=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 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: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 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 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 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:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=35% style="background:#5AC4C4;border:none;border-bottom:solid 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
  beginning</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">1,237</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">47</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">443</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">1,727</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td nowrap 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 style="font-size:6.0pt;">Additions </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 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 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 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 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 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 style="font-size:6.0pt;">158</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=35% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Contributions from
  merger transactions</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: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 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 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 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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=35% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Retirements
  (sales and other decreases)</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=EN-US 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 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 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 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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">(321)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=35% 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=EN-US style="font-size:6.0pt;">Other movements
  and exchange differences</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=EN-US 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 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 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 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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">(216)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=35% style="background:#5AC4C4;border:none;border-bottom:solid 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</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">1,102</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">52</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">194</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">1,348</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=35% style="background:#5AC4C4;border:none;border-bottom:solid 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=EN-US style="font-size:6.0pt;">Balance at the
  end of net carrying value (1)-(2)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">4,945</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">108</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">177</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">18,623</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">23,853</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:21.25pt;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_TS_3759efdd0f7d4e08aef18b6f6"></a><a name="XBRL_FS_458ce98b4c5640a3a14afd5d6"></a><a name="XBRL_FS_822b3a8265c9489d89a3a2ebd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*)&#160;&#160; Net of
amortization accumulated until assets were reclassified as non-current assets
classified as held for sale.</font></font><a name="XBRL_FS_458ce98b4c5640a3a14afd5d6_bclEnd"></a><a name="XBRL_FS_822b3a8265c9489d89a3a2ebd_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:21.25pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_1a5a71383ebd4395b004ed353"></a><a name="XBRL_FS_7a2ad50795a34502a50fd1f7a"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(**) &#160;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_FS_1a5a71383ebd4395b004ed353_bclEnd"></a><a name="XBRL_FS_7a2ad50795a34502a50fd1f7a_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:8.0pt;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, 2019, 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>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Assets from
foreclosures or recoveries</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:8.0pt;line-height:115%;">As of December 31, 2019, 2018 and
2017, assets from foreclosures and recoveries, net of impairment losses, by
nature of the asset, amounted to &#8364;871, &#8364;1,072 and &#8364;1,924 million in assets for
residential use; &#8364;259, &#8364;182 and &#8364;491 million in assets for tertiary use
(industrial, commercial or office) and &#8364;28 &#8364;19 and &#8364;29 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:8.0pt;line-height:115%;">In December 31, 2019, 2018 and
2017, the average sale time of assets from foreclosures or recoveries was
between 2 and 3 years.</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:8.0pt;line-height:115%;">During the years 2019, 2018 and
2017, 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;79, &#8364;82 and &#8364;207 million, respectively; with an average financing
of 27.5% of the sales price during 2019.</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-120</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_361"></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:8.0pt;line-height:115%;">As of
December 31, 2019, 2018 and 2017, 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;1 million in each financial year.</font></font><a name="XBRL_TS_3759efdd0f7d4e08aef18b6f6_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_888bc907c5b64da7afc26b682"></a><a name="_Toc457490029"></a><a name="_Toc474142276"></a><a name="_Toc481589084"></a><a name="_Toc495478136"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">22.&#160;&#160;
Financial liabilities at amortized cost</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;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">22.1&#160;&#160; Breakdown of the balance</font></b></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:9.0pt;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_888bc907c5b64da7afc26b682_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalance_22_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Financial
  liabilities measured at amortized cost (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.75pt;">
  <td width=46% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=18% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=18% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=18% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">Deposits</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 style="font-size:8.0pt;">438,919</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 style="font-size:8.0pt;">435,229</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 style="font-size:8.0pt;">467,949</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;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;">Deposits from central
  banks</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 style="font-size:8.0pt;">25,950</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 style="font-size:8.0pt;">27,281</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 style="font-size:8.0pt;">37,054</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% 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;">Demand deposits</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">23</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">20</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">2,588</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% 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;">Time deposits</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">25,101</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">26,885</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">28,311</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% 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;">Repurchase
  agreements</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">826</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">375</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">6,155</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;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;">Deposits from credit
  institutions</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 style="font-size:8.0pt;">28,751</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 style="font-size:8.0pt;">31,978</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 style="font-size:8.0pt;">54,516</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% 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;">Demand deposits</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">7,161</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">8,370</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">3,731</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% 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;">Time deposits</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">18,896</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">19,015</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">25,941</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% 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;">Repurchase
  agreements</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">2,693</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">4,593</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">24,843</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% style="height:12.75pt;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;">Customer deposits</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 style="font-size:8.0pt;">384,219</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 style="font-size:8.0pt;">375,970</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 style="font-size:8.0pt;">376,379</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% 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;">Demand deposits</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">280,391</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">260,573</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">240,583</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% 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;">Time deposits</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">103,293</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">114,188</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">126,716</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=46% 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;">Repurchase
  agreements</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">535</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">1,209</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">9,079</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;">Debt certificates</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 style="font-size:8.0pt;">63,963</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 style="font-size:8.0pt;">61,112</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 style="font-size:8.0pt;">63,915</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">Other financial
  liabilities</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 style="font-size:8.0pt;">13,758</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 style="font-size:8.0pt;">12,844</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 style="font-size:8.0pt;">11,850</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=46% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total </font></b></font></p>
  </td>
 <td nowrap width=18% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">516,641</font></b></font></p>
  </td>
 <td nowrap width=18% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">509,185</font></b></font></p>
  </td>
 <td nowrap width=18% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">543,713</font></b></font></p>
  </td>
 </tr>
</table></div>



<h2 style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-36.0pt;"><a name="XBRL_TS_ae8fc8fa2c16453d91df74f25"></a><a name="_Toc376949962"></a><a name="_Toc376972370"></a><a name="_Toc474142277"></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;">22.2&#160;&#160;
Deposits from credit institutions</font></b></font></h2>

<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:9.0pt;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_ae8fc8fa2c16453d91df74f25_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_22_003dic_F_XBRL" 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=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Deposits from
  credit institutions. December 2019 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:41.25pt;">
  <td width=32% 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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Demand deposits </font></b></font></p>
  </td>
 <td width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Time deposits &amp; other (*)</font></b></font></p>
  </td>
 <td width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Repurchase agreements</font></b></font></p>
  </td>
 <td width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=32% 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;">Spain</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 style="font-size:8.0pt;">2,104</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 style="font-size:8.0pt;">1,113</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 style="font-size:8.0pt;">1</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 style="font-size:8.0pt;">3,218</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">The United States</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 style="font-size:8.0pt;">2,082</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 style="font-size:8.0pt;">4,295</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">6,377</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Mexico</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 style="font-size:8.0pt;">432</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 style="font-size:8.0pt;">1,033</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 style="font-size:8.0pt;">168</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 style="font-size:8.0pt;">1,634</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Turkey</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 style="font-size:8.0pt;">302</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 style="font-size:8.0pt;">617</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 style="font-size:8.0pt;">4</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 style="font-size:8.0pt;">924</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">South America</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 style="font-size:8.0pt;">394</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 style="font-size:8.0pt;">2,285</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 style="font-size:8.0pt;">161</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 style="font-size:8.0pt;">2,840</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Rest of Europe</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 style="font-size:8.0pt;">1,652</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 style="font-size:8.0pt;">5,180</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 style="font-size:8.0pt;">2,358</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 style="font-size:8.0pt;">9,190</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=32% 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;">Rest of the world</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 style="font-size:8.0pt;">194</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 style="font-size:8.0pt;">4,374</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 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 style="font-size:8.0pt;">4,568</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=32% style="background:#5AC4C4;border:none;border-bottom:solid 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 </font></b></font></p>
  </td>
 <td width=17% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">7,161</font></b></font></p>
  </td>
 <td width=17% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">18,896</font></b></font></p>
  </td>
 <td width=17% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">2,693</font></b></font></p>
  </td>
 <td width=17% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">28,751</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_3dd3f6c2ff7142cc9a170977f"></a><a name="XBRL_TS_f7605b59a66d43d5921c5cd66"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*)&#160;&#160;&#160; Subordinated deposits
are included amounting &#8364;195 million.</font></font><a name="XBRL_FS_3dd3f6c2ff7142cc9a170977f_bclEnd"></a><a name="XBRL_TS_f7605b59a66d43d5921c5cd66_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-121</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_362"></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 title="F_I_22_004_F_XBRL" 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=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif lang=EN-US 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=31% 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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Demand deposits </font></b></font></p>
  </td>
 <td width=18% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Time deposits &amp; other (*)</font></b></font></p>
  </td>
 <td width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Repurchase agreements</font></b></font></p>
  </td>
 <td width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Total</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 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Spain</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:8.0pt;">1,981</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 style="font-size:8.0pt;">2,527</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:8.0pt;">55</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:8.0pt;">4,563</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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">The United States</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,701</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 style="font-size:8.0pt;">2,677</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,379</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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Mexico</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">280</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 style="font-size:8.0pt;">286</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">566</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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Turkey</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">651</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 style="font-size:8.0pt;">669</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,323</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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">South America</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">442</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 style="font-size:8.0pt;">1,892</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,335</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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Rest of Europe</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3,108</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 style="font-size:8.0pt;">6,903</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,534</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">14,545</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 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Rest of the world</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">207</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 style="font-size:8.0pt;">4,061</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,268</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=31% style="background:#5AC4C4;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 </font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">8,370</font></b></font></p>
  </td>
 <td nowrap width=18% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">19,015</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">4,593</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">31,978</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_30b06be8d7924bee8edc74266"></a><a name="XBRL_TS_808b90100b7244dd850c088a6"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*)&#160;&#160;&#160; Subordinated deposits
are included amounting &#8364;191 million.</font></font><a name="XBRL_FS_30b06be8d7924bee8edc74266_bclEnd"></a><a name="XBRL_TS_808b90100b7244dd850c088a6_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_22_005anual_F_XBRL" 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=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif lang=EN-US 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=32% 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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Demand deposits</font></b></font></p>
  </td>
 <td width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Time deposits &amp; other (*)</font></b></font></p>
  </td>
 <td width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Repurchase agreements</font></b></font></p>
  </td>
 <td width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">Spain</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:8.0pt;">762</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:8.0pt;">3,879</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:8.0pt;">878</font></font></p>
  </td>
 <td nowrap width=17% 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 style="font-size:8.0pt;">5,518</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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;">The United States</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,563</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,398</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3,961</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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;">Mexico</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">282</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">330</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,817</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,429</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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;">Turkey</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">73</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">836</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">44</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">953</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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;">South America</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">448</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,538</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">13</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,999</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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;">Rest of Europe</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">526</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">12,592</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">21,732</font></font></p>
  </td>
 <td nowrap width=17% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">34,849</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=32% 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;">Rest of the world</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">77</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3,369</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">360</font></font></p>
  </td>
 <td nowrap width=17% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3,806</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=32% style="background:#5AC4C4;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 </font></b></font></p>
  </td>
 <td width=17% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">3,731</font></b></font></p>
  </td>
 <td width=17% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">25,941</font></b></font></p>
  </td>
 <td width=17% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">24,843</font></b></font></p>
  </td>
 <td width=17% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">54,516</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_ba3058b9e70d4aa0aa59dbb78"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*)&#160;&#160;&#160; Subordinated deposits
are included amounting &#8364;233 million.</font></font><a name="XBRL_FS_ba3058b9e70d4aa0aa59dbb78_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-122</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_363"></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=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>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-36.0pt;"><a name="XBRL_TS_44762db83d944220b0ee7aa48"></a><a name="_Toc376949963"></a><a name="_Toc376972371"></a><a name="_Toc474142278"></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;">22.3&#160;&#160;
Customer deposits</font></b></font></h2>

<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:9.0pt;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_44762db83d944220b0ee7aa48_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_22_011dic_F_XBRL" 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=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Customer
  deposits. December 2019 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:40.5pt;">
  <td width=31% 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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=EN-US 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Demand deposits</font></b></font></p>
  </td>
 <td width=18% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Time deposits &amp; other (*)</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Repurchase agreements</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:8.0pt;">Spain</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 style="font-size:8.0pt;">146,651</font></font></p>
  </td>
 <td nowrap width=18% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">24,958</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 style="font-size:8.0pt;">2</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 style="font-size:8.0pt;">171,611</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:8.0pt;">The United States</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 style="font-size:8.0pt;">46,372</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">19,810</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">66,181</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:8.0pt;">Mexico</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 style="font-size:8.0pt;">43,326</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">12,714</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 style="font-size:8.0pt;">523</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 style="font-size:8.0pt;">56,564</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:8.0pt;">Turkey</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 style="font-size:8.0pt;">13,775</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">22,257</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 style="font-size:8.0pt;">10</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 style="font-size:8.0pt;">36,042</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:8.0pt;">South America</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 style="font-size:8.0pt;">22,748</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">13,913</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">36,661</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:8.0pt;">Rest of Europe</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 style="font-size:8.0pt;">6,610</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">8,749</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">15,360</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:8.0pt;">Rest of the world</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 style="font-size:8.0pt;">909</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">892</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 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 style="font-size:8.0pt;">1,801</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=31% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total </font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;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 style="font-size:8.0pt;">280,391</font></b></font></p>
  </td>
 <td nowrap width=18% style="background:#5AC4C4;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 style="font-size:8.0pt;">103,293</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;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 style="font-size:8.0pt;">535</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;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 style="font-size:8.0pt;">384,219</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_6ba4b2cef5bf4142b288f0de5"></a><a name="XBRL_TS_7df64d5ddc834aabab4e22023"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*)&#160;&#160;&#160; Subordinated deposits
are included amounting to &#8364;189 million.</font></font><a name="XBRL_FS_6ba4b2cef5bf4142b288f0de5_bclEnd"></a><a name="XBRL_TS_7df64d5ddc834aabab4e22023_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_22_008_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Customer
  deposits. December 2018 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:40.5pt;">
  <td width=31% 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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=EN-US 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Demand deposits</font></b></font></p>
  </td>
 <td width=18% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Time deposits and other (*)</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Repurchase agreements</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 style="font-size:8.0pt;">Spain</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 style="font-size:8.0pt;">138,236</font></font></p>
  </td>
 <td nowrap width=18% style="border:none;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">28,165</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 style="font-size:8.0pt;">3</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 style="font-size:8.0pt;">166,403</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 style="font-size:8.0pt;">The United States</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 style="font-size:8.0pt;">41,222</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">21,317</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">62,539</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 style="font-size:8.0pt;">Mexico</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 style="font-size:8.0pt;">38,383</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">11,837</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 style="font-size:8.0pt;">770</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 style="font-size:8.0pt;">50,991</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 style="font-size:8.0pt;">Turkey</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 style="font-size:8.0pt;">10,856</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">22,564</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 style="font-size:8.0pt;">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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">33,427</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 style="font-size:8.0pt;">South America</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 style="font-size:8.0pt;">23,811</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">14,159</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">37,970</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 style="font-size:8.0pt;">Rest of Europe</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 style="font-size:8.0pt;">7,233</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">14,415</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 style="font-size:8.0pt;">429</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 style="font-size:8.0pt;">22,077</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 style="font-size:8.0pt;">Rest of the world</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 style="font-size:8.0pt;">831</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,731</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 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 style="font-size:8.0pt;">2,563</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=31% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total </font></b></font></p>
  </td>
 <td width=17% style="background:#5AC4C4;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 style="font-size:8.0pt;">260,573</font></b></font></p>
  </td>
 <td width=18% style="background:#5AC4C4;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 style="font-size:8.0pt;">114,188</font></b></font></p>
  </td>
 <td width=17% style="background:#5AC4C4;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 style="font-size:8.0pt;">1,209</font></b></font></p>
  </td>
 <td width=17% style="background:#5AC4C4;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 style="font-size:8.0pt;">375,970</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_07e46284c2d345038260b18b7"></a><a name="XBRL_TS_d11635fe7a014783878ae0749"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*)&#160;&#160;&#160; Subordinated deposits
are included amounting to &#8364;220 million.</font></font><a name="XBRL_FS_07e46284c2d345038260b18b7_bclEnd"></a><a name="XBRL_TS_d11635fe7a014783878ae0749_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_22_009anual_F_XBRL" 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=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Customer
  deposits. December 2017 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:40.5pt;">
  <td width=32% 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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=EN-US 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Demand deposits</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Time deposits &amp; other (*)</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Repurchase agreements</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=32% 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;">Spain</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 style="font-size:8.0pt;">123,382</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 style="font-size:8.0pt;">39,513</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 style="font-size:8.0pt;">2,664</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 style="font-size:8.0pt;">165,559</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">The United States</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 style="font-size:8.0pt;">36,728</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 style="font-size:8.0pt;">21,436</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">58,164</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Mexico</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 style="font-size:8.0pt;">36,492</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 style="font-size:8.0pt;">11,622</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 style="font-size:8.0pt;">4,272</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 style="font-size:8.0pt;">52,387</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Turkey</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 style="font-size:8.0pt;">12,427</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 style="font-size:8.0pt;">24,237</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 style="font-size:8.0pt;">152</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 style="font-size:8.0pt;">36,815</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">South America</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 style="font-size:8.0pt;">23,710</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 style="font-size:8.0pt;">15,053</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 style="font-size:8.0pt;">2</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 style="font-size:8.0pt;">38,764</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Rest of Europe</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 style="font-size:8.0pt;">6,816</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 style="font-size:8.0pt;">13,372</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 style="font-size:8.0pt;">1,989</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 style="font-size:8.0pt;">22,177</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=32% 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;">Rest of the world</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 style="font-size:8.0pt;">1,028</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 style="font-size:8.0pt;">1,484</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 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 style="font-size:8.0pt;">2,511</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total </font></b></font></p>
  </td>
 <td width=17% style="background:#5AC4C4;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 style="font-size:8.0pt;">240,583</font></b></font></p>
  </td>
 <td width=17% style="background:#5AC4C4;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 style="font-size:8.0pt;">126,716</font></b></font></p>
  </td>
 <td width=17% style="background:#5AC4C4;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 style="font-size:8.0pt;">9,079</font></b></font></p>
  </td>
 <td width=17% style="background:#5AC4C4;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 style="font-size:8.0pt;">376,379</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_a4075e876b4f408eae328b143"></a><a name="XBRL_TS_822cf1f1d44f4dc391257a750"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*)&#160;&#160;&#160; Subordinated deposits
are included amounting to &#8364;194 million.</font></font><a name="XBRL_FS_a4075e876b4f408eae328b143_bclEnd"></a><a name="XBRL_TS_822cf1f1d44f4dc391257a750_bclEnd"></a><font face=Arial,sans-serif style="border:none;">
&nbsp;</font></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-36.0pt;"><a name="XBRL_TS_5342fe83d972407b982649cd8"></a><a name="_Toc376949964"></a><a name="_Toc376972372"></a><a name="_Toc474142279"></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-123</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_364"></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:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-36.0pt;"><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;">22.4&#160;&#160;
Debt certificates</font></b></font></h2>

<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:8.0pt;line-height:115%;">The
breakdown of the balance under this heading, by financial instruments and by
currency, is as follows:</font></font><a name="XBRL_TS_5342fe83d972407b982649cd8_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalance_22.4_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Debt
  certificates (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.75pt;">
  <td width=52% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=52% 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 style="font-size:6.0pt;">In Euros</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">40,185</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">37,436</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">38,735</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=52% 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:6.0pt;">Promissory bills and
  notes</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 style="font-size:6.0pt;">737</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 style="font-size:6.0pt;">267</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 style="font-size:6.0pt;">1,309</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=52% 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=EN-US style="font-size:6.0pt;">Non-convertible
  bonds and debentures</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">12,248</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">9,638</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">9,418</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=52% 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;">Covered bonds (*)</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">15,542</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">15,809</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">16,425</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=52% 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;">Hybrid financial
  instruments</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">518</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">814</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">807</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=52% 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;">Securitization bonds</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,354</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,630</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,295</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=52% 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;">Wholesale funding</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,817</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">142</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=52% 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;">Subordinated
  liabilities</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">7,968</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">9,136</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">8,481</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=52% 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:6.0pt;">Convertible
  perpetual certificates</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">5,000</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">5,490</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">4,500</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=52% 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:6.0pt;">Convertible
  subordinated debt</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=52% 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:6.0pt;">Non-convertible
  preferred stock</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">83</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">107</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">107</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=52% 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=EN-US style="font-size:6.0pt;">Other
  non-convertible subordinated liabilities</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">2,885</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">3,540</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">3,875</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=52% 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 style="font-size:6.0pt;">In foreign
  currencies</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">23,778</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">23,676</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">25,180</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=52% 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:6.0pt;">Promissory bills and
  notes</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 style="font-size:6.0pt;">1,210</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 style="font-size:6.0pt;">3,237</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 style="font-size:6.0pt;">3,157</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=52% 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=EN-US style="font-size:6.0pt;">Non-convertible
  bonds and debentures</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">10,587</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">9,335</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">11,109</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=52% 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;">Covered bonds (*)</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">362</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">569</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">650</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=52% 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;">Hybrid financial
  instruments</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,156</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,455</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,809</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=52% 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;">Securitization bonds</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">17</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">38</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">47</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=52% 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;">Wholesale funding</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">780</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">544</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=52% 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;">Subordinated
  liabilities</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">9,666</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">8,499</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">8,407</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=52% 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:6.0pt;">Convertible
  perpetual certificates</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">1,782</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">873</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">2,085</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=52% 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:6.0pt;">Convertible
  subordinated debt</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=52% 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:6.0pt;">Non-convertible
  preferred stock</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">76</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">74</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">55</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=52% 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=EN-US style="font-size:6.0pt;">Other
  non-convertible subordinated liabilities</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">7,808</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">7,552</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">6,268</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=52% style="background:#5AC4C4;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 style="font-size:6.0pt;">&#160; Total</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:6.0pt;">63,963</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:6.0pt;">61,112</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:6.0pt;">63,915</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_553988e91667420d995c5cde8"></a><a name="XBRL_TS_20d186e001594fe79882b3c50"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*) Including mortgage-covered
bonds.</font></font><a name="XBRL_FS_553988e91667420d995c5cde8_bclEnd"></a><a name="XBRL_TS_20d186e001594fe79882b3c50_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_08278b3de4694f828899cf622"></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%;">As of December 31, 2019, 71% of &#8220;Debt certificates&#8221; have
fixed-interest rates and 29% 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:8.0pt;line-height:115%;">Most of the foreign currency issues
are denominated in U.S. dollars.
</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-124</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_365"></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:6.0pt;page-break-after:avoid;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:9.0pt;line-height:115%;">22.4.1&#160;&#160;
Subordinated liabilities</font></b></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:8.0pt;line-height:115%;">The
breakdown of this heading, is as follows:</font></font><a name="XBRL_TS_08278b3de4694f828899cf622_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_22_012dic_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Memorandum
  item: Subordinated liabilities at amortized cost </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=54% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=54% 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;">Subordinated deposits</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:8.0pt;">384</font></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:8.0pt;">411</font></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:8.0pt;">427</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Subordinated
  certificates </font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">17,635</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">17,635</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">16,889</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=54% style="height:12.75pt;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;">Preferred stock</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">159</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">181</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">161</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=54% style="height:12.75pt;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;">Compound convertible
  financial instruments </font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">6,782</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">6,363</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">6,585</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=54% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Other
  non-convertible subordinated liabilities (*)</font></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">10,693</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">11,092</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">10,143</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=54% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">18,018</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">18,047</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">17,316</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_927b4c81b2f64f3a8ef69b6cd"></a><a name="XBRL_TS_f10cc0092bdb42be93f89d63e"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*) The &#8364;40 million
subordinated issuances of BBVA Paraguay as of December 2019 are recorded in the
heading &quot;Liabilities included in disposal groups classified as held for
sale&quot;.</font></font><a name="XBRL_FS_927b4c81b2f64f3a8ef69b6cd_bclEnd"></a><a name="XBRL_TS_f10cc0092bdb42be93f89d63e_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_71c8e66231a442adbd4c5b3c3"></a><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;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:8.0pt;line-height:115%;">Convertible perpetual liabilities</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:8.0pt;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. 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
enable the nominal amount of the capital increases resolved or effectively
carried out to cover the conversion of mandatory convertible issuances made
under 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;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%;">Under that
delegation, BBVA made the following issuances that qualify as additional tier 1
capital of the Bank and the Group in accordance with Regulation (EU) 575/2013:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">In May and November 2017, BBVA carried out both issuances 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;500 million and $1,000 million, respectively. These
issuances are listed in the Global Exchange Market of Euronext Dublin and 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.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">In September 2018 and March 2019, BBVA carried out both issuances
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 each. These issuances are listed in the AIAF
Fixed Income Securities Market and were targeted only at professional clients
and eligible counterparties, and not being offered or sold to any retail
clients.</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:35.7pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-17.85pt;"><font color=#004580 face=Symbol style="border:none;"><font color=#004580 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#004580 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">On September 5, 2019, BBVA carried out an 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 $1,000 million. This issuance is listed in the Global
Exchange Market of Euronext Dublin and was targeted only at qualified
investors, not being offered to, and not being subscribed for, in Spain or by
Spanish residents.</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:8.0pt;line-height:115%;">Additionally,
other issuances:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The additional issuances of perpetual contingent convertible
securities (additional tier 1 instruments) with exclusion of pre-emptive
subscription rights of shareholders were carried out, by virtue of other
delegations conferred by the AGM, in February 2015 for an amount of &#8364;1.5
billion and in April 2016 for an amount of &#8364;1 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. These issuances are listed in the Global Exchange Market of Euronext
Dublin and </font></font><font color=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">qualify as additional tier 1 capital of the Bank and the Group in
accordance with Regulation (EU) 575/2013</font></font><font color=windowtext style="border:none;"><font color=windowtext 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: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%;">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;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%;">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. In particular:</font></font></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">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>


<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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_366"></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;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">On February 19, 2019 the Bank early redeemed 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-bottom:6.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;page-break-after:auto;text-align:justify;text-indent:-18.0pt;"><font color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;line-height:115%;">&#183;</font><font color=#009EE5 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=windowtext style="border:none;"><font color=windowtext face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Additionally, on December 23, 2019, the Bank has notified its
irrevocable decision to early redeem next February 18, 2020 the issuance of
preferred securities contingently convertible (additional tier 1 instrument),
carried out by the Bank on February 18, 2015, 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;page-break-after:avoid;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:8.0pt;line-height:115%;">Preferred securities</font></b></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:8.0pt;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_71c8e66231a442adbd4c5b3c3_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_22_017_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Preferred
  securities by issuer (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:28.5pt;">
  <td width=51% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=17% 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 style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=16% 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 style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=16% 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 style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap 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=EN-US 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 lang=EN-US style="font-size:9.0pt;">(1)</font></font></sup></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 style="font-size:8.0pt;">37</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 style="font-size:8.0pt;">35</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 style="font-size:8.0pt;">36</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 style="font-size:9.0pt;">(2)</font></font></sup></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">83</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">98</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">98</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=51% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 USA</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 style="font-size:8.0pt;">19</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 style="font-size:8.0pt;">19</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 style="font-size:8.0pt;">19</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=51% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 Colombia</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 style="font-size:8.0pt;">20</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 style="font-size:8.0pt;">19</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 style="font-size:8.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=51% 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;">Other</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">9</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 style="font-size:8.0pt;">9</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=51% style="background:#5AC4C4;border:none;border-bottom:solid 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</font></b></font></p>
  </td>
 <td nowrap width=17% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">159</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">181</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">163</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;"><a name="XBRL_TS_1fb1d6c353ab47f493d64ad54"></a><a name="XBRL_FS_0fdd3cee705048999374fd142"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(1) Listed on the London
stock exchange.</font></font><a name="XBRL_FS_0fdd3cee705048999374fd142_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;"><a name="XBRL_FS_d49e5e6086624a00aa49d4cd0"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(2) Unnim Group: Issuances
prior to the acquisition by BBVA.</font></font><a name="XBRL_FS_d49e5e6086624a00aa49d4cd0_bclEnd"></a><a name="XBRL_TS_1fb1d6c353ab47f493d64ad54_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_a9ed084ea5134e7f8b9ae80c1"></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%;">These issuances were fully subscribed at the moment of the issue
by qualified/institutional investors outside the Group and are redeemable,
totally or partially, at the issuer&#8217;s option after five years from the issue
date, depending on the terms of each issuance and with the prior consent from
the Bank of Spain or the relevant authority.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;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:8.0pt;line-height:115%;">Redemption of preferred 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:8.0pt;line-height:115%;">BBVA International Preferred,
S.A.U. carried out the early redemption in full of its Series B preferred
securities on March 20, 2017, for an outstanding amount of &#8364;164,350,000; on
March 22, 2017, the early redemption in full of its Series A preferred
securities for an outstanding amount of &#8364;85,550,000; and on April 18, 2017 the
early redemption in full of its Series C preferred securities for an
outstanding amount of USD 600,000,000, once the prior consent was obtained.</font></font></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-36.0pt;"><a name="_Toc376949968"></a><a name="_Toc376972376"></a><a name="_Toc474142280"></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;">22.5&#160;&#160;
Other financial liabilities</font></b></font></h2>

<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:8.0pt;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_a9ed084ea5134e7f8b9ae80c1_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalance_22.5_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Other
  financial liabilities (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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 style="font-size:8.0pt;">Lease liabilities (*)</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 style="font-size:8.0pt;">3,335</font></font></p>
  </td>
 <td nowrap width=14% style="background:#E7E6E6;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 nowrap width=14% style="background:#E7E6E6;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>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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=EN-US style="font-size:8.0pt;">Creditors for
  other financial liabilities</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 style="font-size:8.0pt;">2,623</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 style="font-size:8.0pt;">2,891</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 style="font-size:8.0pt;">2,835</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 style="font-size:8.0pt;">Collection accounts</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 style="font-size:8.0pt;">3,306</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 style="font-size:8.0pt;">4,305</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 style="font-size:8.0pt;">3,452</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 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Creditors for
  other payment obligations</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 style="font-size:8.0pt;">4,494</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 style="font-size:8.0pt;">5,648</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 style="font-size:8.0pt;">5,563</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=58% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">13,758</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">12,844</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">11,850</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;text-align:justify;"><a name="XBRL_FS_9c52aa7ec18a49d7b2b88d36f"></a><a name="XBRL_TS_1a897ac0bba3400eab54ad3c5"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*) Lease
liabilities are recognized after the implementation of IFRS 16 (see Note 2.1).</font></font><a name="XBRL_FS_9c52aa7ec18a49d7b2b88d36f_bclEnd"></a><a name="XBRL_TS_1a897ac0bba3400eab54ad3c5_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_4eee0f38c52b4b8fa397232cd"></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%;">A breakdown
of the maturity of the lease liabilities, due after December 31, 2019 is
provided below:</font></font><a name="XBRL_TS_4eee0f38c52b4b8fa397232cd_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_35_035.1_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:11.25pt;">
  <td colspan=7 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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=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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% 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 lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Up to 1 year</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">1 to 3 years</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">3 to 5 years</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Over 5 years</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=47% 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 style="font-size:8.0pt;">Leases</font></font></p>
  </td>
 <td nowrap width=8% style="border:none;height:11.25pt;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=9% 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 style="font-size:8.0pt;">269</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">500</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">535</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">2,031</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">3,335</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;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_3259fe8501314d7684667caf7"></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:11.0pt;">23.&#160;&#160;
Assets and liabilities under insurance and reinsurance contracts</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:8.0pt;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>


<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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_367"></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:8.0pt;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-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:8.0pt;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 color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;">&#183;</font><font color=#009EE5 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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">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 color=#009EE5 face=Symbol style="border:none;"><font color=#009EE5 face=Symbol lang=EN-US style="font-size:8.0pt;">&#183;</font><font color=#009EE5 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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">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-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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-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:8.0pt;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:8.0pt;line-height:115%;">As of
December 31, 2019, 2018 and 2017, the balance under this heading amounted to
&#8364;341, &#8364;366 million and &#8364;421 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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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></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:8.0pt;line-height:115%;">The
breakdown of the balance under this heading is as follows:</font></font><a name="XBRL_TS_3259fe8501314d7684667caf7_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_23_004_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Technical
  reserves (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:30.75pt;">
  <td width=64% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=64% 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;">Mathematical reserves</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 style="font-size:8.0pt;">9,247</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 style="font-size:8.0pt;">8,504</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 style="font-size:8.0pt;">7,961</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=64% 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;">Individual life
  insurance&#160; </font></font><sup><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">(1)</font></font></sup></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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">6,731</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">6,201</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">5,359</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=64% 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 style="font-size:8.0pt;">Savings</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">5,906</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">5,180</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">4,392</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=64% 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 style="font-size:8.0pt;">Risk</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">825</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">1,021</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">967</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=64% 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;">Group insurance </font></font><sup><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">(2)</font></font></sup></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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">2,517</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">2,303</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">2,601</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=64% 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 style="font-size:8.0pt;">Savings</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">2,334</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">2,210</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">2,455</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=64% 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 style="font-size:8.0pt;">Risk</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">182</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">93</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">147</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Provision for
  unpaid claims reported</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 style="font-size:8.0pt;">641</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 style="font-size:8.0pt;">662</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 style="font-size:8.0pt;">631</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=64% 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=EN-US style="font-size:8.0pt;">Provisions for
  unexpired risks and other provisions</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 style="font-size:8.0pt;">718</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 style="font-size:8.0pt;">668</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 style="font-size:8.0pt;">631</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=64% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">10,606</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">9,834</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">9,223</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;page-break-after:avoid;text-align:justify;text-indent:-21.3pt;"><a name="XBRL_TS_bd3c6778918e42f4b105664f4"></a><a name="XBRL_FS_b3e58f28111b4f8e884b2bec3"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(1)&#160;&#160; Provides coverage in
the event of death or disability.</font></font><a name="XBRL_FS_b3e58f28111b4f8e884b2bec3_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:21.25pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_223263e22f3d437488e404fa9"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;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_FS_223263e22f3d437488e404fa9_bclEnd"></a></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:8.0pt;line-height:115%;">The cash
flows of those &#8220;Liabilities under insurance and reinsurance contracts&#8221; are
shown below:</font></font><a name="XBRL_TS_bd3c6778918e42f4b105664f4_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_23_002_F_XBRL" 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=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Maturity
  (Millions of euros). Liabilities under insurance and reinsurance contracts</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=35% 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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Up to 1 year</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">1 to 3 years</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">3 to 5 years</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Over 5 years</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=35% 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;">2019</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 style="font-size:8.0pt;">1,571</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 style="font-size:8.0pt;">1,197</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 style="font-size:8.0pt;">1,806</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 style="font-size:8.0pt;">6,032</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 style="font-size:8.0pt;">10,606</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=35% 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;">2018</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 style="font-size:8.0pt;">1,686</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 style="font-size:8.0pt;">1,041</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 style="font-size:8.0pt;">1,822</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 style="font-size:8.0pt;">5,285</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 style="font-size:8.0pt;">9,834</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=35% 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;">2017</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 style="font-size:8.0pt;">1,560</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 style="font-size:8.0pt;">1,119</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 style="font-size:8.0pt;">1,502</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 style="font-size:8.0pt;">5,042</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 style="font-size:8.0pt;">9,223</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_8f009a8d0b6e40d9838538f1e"></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%;">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 support
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></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-127</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_368"></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:8.0pt;line-height:115%;">The table below shows the key assumptions as of December 31, 2019,
used in the calculation of the mathematical reserves for insurance products in
Spain and Mexico, respectively:</font></font><a name="XBRL_TS_8f009a8d0b6e40d9838538f1e_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_23_003_F_XBRL" 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=#5AC4C4 face=Arial,sans-serif style="border:none;"><font color=#5AC4C4 face=Arial,sans-serif style="font-size:8.0pt;">Mathematical
  reserves</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=24% 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;"><b><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Average technical interest type</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=24% 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=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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Spain</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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Mexico</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.75pt;">
  <td width=24% style="border:none;height:33.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Individual life
  insurance (1)</font></font></p>
  </td>
 <td width=19% style="border:none;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">GRMF 80-2, GKMF 80/95.&#160; PASEM, PERMF 2000</font></font></p>
  </td>
 <td width=19% style="border:none;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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: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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.25% -2.91%</font></font></p>
  </td>
 <td width=19% style="border:none;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2.50%</font></font></p>
  </td>
 </tr>
<tr style="height:31.5pt;">
  <td width=24% 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;">Group insurance(2)</font></font></p>
  </td>
 <td width=19% 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;">PERMF 2000</font></font></p>
  </td>
 <td width=19% 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;">Tables of the Comisi&#243;n Nacional de Seguros y Fianzas 2000-grupo</font></font></p>
  </td>
 <td width=19% 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 lang=EN-US style="font-size:8.0pt;">Depending on the related portfolio</font></font></p>
  </td>
 <td width=19% 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;">5.50%</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:21.25pt;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_TS_702e28f7cffa4da19bd29ee91"></a><a name="XBRL_FS_79de8f25f4e94de6ba0ad75ee"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(1)&#160;&#160; Provides coverage in
the case of one or more of the following events: death and disability.</font></font><a name="XBRL_FS_79de8f25f4e94de6ba0ad75ee_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:21.25pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_4369f7f64a11484699ea9a8e1"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(2)&#160; Insurance policies
purchased by companies (other than Group BBVA entities) on behalf of their
employees.</font></font><a name="XBRL_FS_4369f7f64a11484699ea9a8e1_bclEnd"></a><a name="XBRL_TS_702e28f7cffa4da19bd29ee91_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="_Toc298431725"></a><a name="_Toc299029461"></a><a name="_Toc299031543"></a><a name="_Toc299032882"></a><a name="_Toc331260323"></a><a name="_Toc347755861"></a><a name="_Toc376949977"></a><a name="XBRL_TS_bad945a83f944fc5b0cbe0f73"></a><a name="_Toc457490031"></a><a name="_Toc474142282"></a><a name="_Toc481589086"></a><a name="_Toc495478138"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">24.&#160;&#160;
Provisions</font></b></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:8.0pt;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_bad945a83f944fc5b0cbe0f73_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalance_23_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Provisions.
  Breakdown by concepts (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=44% 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=#44546A face=Arial,sans-serif style="border:none;"><b><font color=#44546A face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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=EN-US style="font-size:8.0pt;">Provisions for
  pensions and similar obligations</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">25 </font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">4,631</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">4,787</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">5,407</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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=EN-US style="font-size:8.0pt;">Other long term
  employee benefits</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">25 </font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">61</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">62</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">67</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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=EN-US style="font-size:8.0pt;">Provisions for
  taxes and other legal contingencies</font></font></p>
  </td>
 <td nowrap width=14% 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=EN-US style="font-size:8.0pt;">&nbsp;</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">677</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">686</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">756</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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=EN-US style="font-size:8.0pt;">Provisions for
  contingent risks and commitments</font></font></p>
  </td>
 <td nowrap width=14% 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=EN-US style="font-size:8.0pt;">&nbsp;</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">711</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">636</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">578</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 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 provisions (*)</font></font></p>
  </td>
 <td nowrap width=14% 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 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=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">457</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">601</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">669</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=44% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">6,538</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">6,772</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">7,477</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_788d0733d89041d3825ee1820"></a><a name="XBRL_FS_9ea566c8662f4959a9b607b0f"></a><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*)
Individually insignificant provisions or contingencies, for various concepts in
different geographies.</font></font><a name="XBRL_FS_9ea566c8662f4959a9b607b0f_bclEnd"></a></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:8.0pt;line-height:115%;">The change
in provisions for pensions and similar obligations for the years ended December
31, 2019, 2018, and 2017 is as follows:</font></font><a name="XBRL_TS_788d0733d89041d3825ee1820_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_24_002_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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=53% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=53% style="background:#5AC4C4;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;">Balance at the
  beginning </font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">4,787</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">5,407</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">6,025</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=53% 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;">Add</font></font></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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 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=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 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:12.75pt;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:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=53% 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=EN-US style="font-size:8.0pt;">Charges to
  income for the year </font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&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 style="font-size:8.0pt;">330</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 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 style="font-size:8.0pt;">391</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=53% 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=EN-US style="font-size:8.0pt;">Interest
  expense and similar charges</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&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 style="font-size:8.0pt;">65</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 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 style="font-size:8.0pt;">71</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=53% 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;">Personnel expense</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">44.1</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 style="font-size:8.0pt;">50</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 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 style="font-size:8.0pt;">62</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=53% 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;">Provision expense</font></font></p>
  </td>
 <td nowrap 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 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=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 style="font-size:7.0pt;">215</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 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 style="font-size:8.0pt;">258</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=53% 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 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 style="font-size:9.0pt;">(1)</font></font></sup></p>
  </td>
 <td nowrap width=12% 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 style="font-size:8.0pt;">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 style="font-size:8.0pt;">329</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 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 style="font-size:8.0pt;">140</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=53% 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 style="font-size:8.0pt;">Transfers and other
  changes</font></font></p>
  </td>
 <td nowrap width=12% 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=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 style="font-size:8.0pt;">(32)</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 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 style="font-size:8.0pt;">(264)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=53% 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;">Less</font></font></p>
  </td>
 <td nowrap 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 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=12% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=53% 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;">Benefit payments</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">25</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 style="font-size:8.0pt;">(718)</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 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 style="font-size:8.0pt;">(861)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=53% 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 style="font-size:8.0pt;">Employer
  contributions</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=center style="border:none;margin: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;">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 style="font-size:8.0pt;">(65)</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 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 style="font-size:8.0pt;">(25)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=53% style="background:#5AC4C4;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;">Balance at the end</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">4,631</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">4,787</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">5,407</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:21.25pt;margin-right:0cm;margin-top:6.0pt;text-align:justify;"><a name="XBRL_FS_7533495a778e447298479d517"></a><a name="XBRL_TS_602685fb5a1e431e8b1a3dbe9"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(1)&#160;&#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_7533495a778e447298479d517_bclEnd"></a><a name="XBRL_TS_602685fb5a1e431e8b1a3dbe9_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_24_003_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Provisions
  for taxes, legal contingencies and other provisions. Changes over the year
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=58% 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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=58% style="background:#5AC4C4;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;">Balance at beginning </font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,286</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,425</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">2,028</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 style="font-size:8.0pt;">Additions</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 style="font-size:8.0pt;">396</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 style="font-size:8.0pt;">455</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 style="font-size:8.0pt;">868</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 style="font-size:8.0pt;">Acquisition of
  subsidiaries</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 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 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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=EN-US style="font-size:8.0pt;">Unused amounts
  reversed during the year</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 style="font-size:8.0pt;">(96)</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 style="font-size:8.0pt;">(184)</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 style="font-size:8.0pt;">(164)</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 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Amount used and other variations</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 style="font-size:8.0pt;">(453)</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 style="font-size:8.0pt;">(410)</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 style="font-size:8.0pt;">(1,306)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=58% style="background:#5AC4C4;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;">Balance at the end </font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,134</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,286</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,425</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-128</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_369"></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;"><a name="XBRL_TS_b7fafea8a2a44370b8167bd76"></a><font color=#094580 face=Arial,sans-serif style="border:none;"><b><font color=#094580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Ongoing legal proceedings and litigation</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;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:8.0pt;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 derives 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 standalone Bank. The Group
Management considers that the provisions made in connection with these legal
proceedings are adequate. </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:8.0pt;line-height:115%;">As mentioned in Note
7.5 Legal 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 business, the
financial situation and the results of the Group.</font></font><a name="XBRL_TS_b7fafea8a2a44370b8167bd76_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_2e671bb356734ba0aace8ea7b"></a><a name="_Toc298431726"></a><a name="_Toc299029462"></a><a name="_Toc299031544"></a><a name="_Toc299032883"></a><a name="_Toc331260324"></a><a name="_Toc347755862"></a><a name="_Toc376949978"></a><a name="_Toc457490032"></a><a name="_Toc474142283"></a><a name="_Toc481589087"></a><a name="_Toc495478139"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">25.&#160;&#160; Post-employment and other employee
benefit commitments</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:8.0pt;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-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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: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:8.0pt;line-height:115%;">The breakdown of the net defined
benefit liability recorded on the balance sheet as of December 31, 2019, 2018
and 2017 is provided below:</font></font><a name="XBRL_TS_2e671bb356734ba0aace8ea7b_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_25_001_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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 nowrap width=70% 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=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=70% 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;">Pension commitments</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 style="font-size:8.0pt;">5,050</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 style="font-size:8.0pt;">4,678</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 style="font-size:8.0pt;">4,969</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=70% 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;">Early retirement
  commitments</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 style="font-size:8.0pt;">1,486</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 style="font-size:8.0pt;">1,793</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 style="font-size:8.0pt;">2,210</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=70% 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;">Medical benefits
  commitments</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 style="font-size:8.0pt;">1,580</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 style="font-size:8.0pt;">1,114</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 style="font-size:8.0pt;">1,204</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=70% 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=EN-US style="font-size:8.0pt;">Other long term
  employee benefits</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 style="font-size:8.0pt;">61</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 style="font-size:8.0pt;">62</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 style="font-size:8.0pt;">67</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=70% style="background:#5AC4C4;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 commitments</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">8,177</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">7,647</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">8,451</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=70% 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;">Pension plan assets</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 style="font-size:8.0pt;">1,961</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 style="font-size:8.0pt;">1,694</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 style="font-size:8.0pt;">1,892</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=70% 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;">Medical benefit plan
  assets</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 style="font-size:8.0pt;">1,532</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 style="font-size:8.0pt;">1,146</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 style="font-size:8.0pt;">1,114</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=70% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total plan assets (1)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">3,493</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">2,840</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">3,006</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=70% 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 style="font-size:9.0pt;">&nbsp;</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=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 style="font-size:9.0pt;">&nbsp;</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=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 style="font-size:9.0pt;">&nbsp;</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=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 style="font-size:9.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=70% style="background:#5AC4C4;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 net liability /
  asset </font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">4,684</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">4,807</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">5,445</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=70% style="border:none;height:13.5pt;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=EN-US style="font-size:8.0pt;">Of which: Net
  asset on the consolidated balance sheet&#160; (2)</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:8.0pt;">(8)</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:8.0pt;">(41)</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:8.0pt;">(27)</font></i></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=70% style="height:22.5pt;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=EN-US style="font-size:8.0pt;">Of which:
  +Net liability on the consolidated balance sheet&#160; for provisions for pensions
  and similar obligations (3)</font></i></font></p>
  </td>
 <td width=10% 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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:8.0pt;">4,631</font></i></font></p>
  </td>
 <td width=10% 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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:8.0pt;">4,787</font></i></font></p>
  </td>
 <td width=10% 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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:8.0pt;">5,407</font></i></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=70% style="height:14.25pt;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=EN-US style="font-size:8.0pt;">Of which: Net
  liability on the consolidated balance sheet&#160; for other long term employee
  benefits (4)</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:8.0pt;">61</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:8.0pt;">62</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:8.0pt;">67</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:3.0pt;text-align:justify;"><a name="XBRL_TS_326111fc9ef94990a0de5e337"></a><a name="XBRL_FS_24440e34ec7041b6a87c901cd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:normal;">(1)&#160;&#160; In Turkey, the
foundation responsible for managing the benefit commitments holds an additional
asset of &#8364;252 million as of December 31, 2019 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_24440e34ec7041b6a87c901cd_bclEnd"></a></p>

<p style="border:none;margin-bottom:0cm;margin-left:35.4pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_FS_5f04c2802f8944a79c75b0b51"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:normal;">(2)&#160;&#160;
Recorded under the heading &#8220;Other Assets - Other&#8221; of the consolidated balance
sheet (see Note 20).</font></font><a name="XBRL_FS_5f04c2802f8944a79c75b0b51_bclEnd"></a></p>

<p style="border:none;margin-bottom:0cm;margin-left:35.4pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_FS_e07a53bbcd284f828dd68f926"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:normal;">(3)&#160;&#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_e07a53bbcd284f828dd68f926_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.4pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_FS_2c9c83d8ba54402c8eac24369"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:normal;">(4)&#160;&#160;
Recorded under the heading &#8220;Provisions &#8211; Other long-term employee benefits&#8221; of
the consolidated balance sheet (see Note 24).</font></font><a name="XBRL_FS_2c9c83d8ba54402c8eac24369_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-129</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</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">

<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:8.0pt;line-height:115%;">The amounts relating to benefit commitments charged to
consolidated income statement for the years 2019, 2018 and 2017 are as follows:</font></font><a name="XBRL_TS_326111fc9ef94990a0de5e337_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_25_002_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Consolidated
  income statement impact (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td nowrap width=64% 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=EN-US 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Notes</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=64% 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 style="font-size:8.0pt;">Interest and
  similar expense</font></b></font></p>
  </td>
 <td nowrap width=9% 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;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">65</font></b></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">78</font></b></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">71</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=64% 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 style="font-size:8.0pt;">Interest expense</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">307</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">295</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">294</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=64% 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 style="font-size:8.0pt;">Interest income</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(242)</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(217)</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(223)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=64% 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 style="font-size:8.0pt;">Personnel expense</font></b></font></p>
  </td>
 <td nowrap width=9% 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;"><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">163</font></b></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">147</font></b></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">149</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=64% 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 style="font-size:8.0pt;">Defined contribution
  plan expense</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">44.1</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">113</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">89</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">87</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=64% 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 style="font-size:8.0pt;">Defined benefit plan
  expense</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">44.1</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">50</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">58</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">62</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=64% 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 style="font-size:8.0pt;">Provisions (net)</font></b></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">46 </font></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">214</font></b></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">125</font></b></font></p>
  </td>
 <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">343</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=64% 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 style="font-size:8.0pt;">Early retirement
  expense</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">190</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">141</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">227</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=64% 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 style="font-size:8.0pt;">Past service cost
  expense</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">18</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">(33)</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=64% 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;">Remeasurements </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;">(*)</font></font></sup></p>
  </td>
 <td nowrap width=9% 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:9.0pt;">&nbsp;</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 style="font-size:8.0pt;">7</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 style="font-size:8.0pt;">(10)</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 style="font-size:8.0pt;">31</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=64% 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 style="font-size:8.0pt;">Other provision
  expense</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(2)</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">28</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">82</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=64% style="background:#5AC4C4;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=EN-US style="font-size:8.0pt;">Total impact on
  consolidated income statement: debit (credit)</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">441</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">350</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">563</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:35.4pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_TS_a5f7685644a24a528baec9ba2"></a><a name="XBRL_FS_1b1f4758029e47b8b94f9eb8d"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:normal;">(*)&#160;&#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_1b1f4758029e47b8b94f9eb8d_bclEnd"></a></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:8.0pt;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, 2019, 2018 and 2017 are as follows:</font></font><a name="XBRL_TS_a5f7685644a24a528baec9ba2_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_25_003_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Equity impact
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td nowrap 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=15% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</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 style="font-size:8.0pt;">Defined benefit plans</font></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:8.0pt;">254</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">81</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">(40)</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 style="font-size:8.0pt;">Post-employment
  medical benefits</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">74</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(47)</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">179</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=57% style="background:#5AC4C4;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=EN-US style="font-size:8.0pt;">Total impact on
  equity: debit (credit)</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">329</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">34</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">140</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;text-align:justify;"><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:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-36.0pt;"><a name="XBRL_TS_860f6bcf1c84431e815fa665e"></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-130</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</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>
<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-36.0pt;"><font color=#004480 face=Arial,sans-serif style="border:none;"><b><font color=#004480 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">25.1&#160;&#160; Defined benefit plans</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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, 2019, 2018 and 2017 is presented below:</font></font><a name="XBRL_TS_860f6bcf1c84431e815fa665e_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_25_005dic_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Defined
  benefits (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td nowrap width=21% style="border:none;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;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</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 align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2019</font></b></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 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:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2018</font></b></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 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:24.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td nowrap width=21% 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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Defined benefit obligation</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Plan assets</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Net liability (asset)</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Defined benefit obligation</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Plan assets</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Net liability (asset)</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Net liability (asset)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="background:#5AC4C4;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;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:7.0pt;">7,585</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:7.0pt;">2,839</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:7.0pt;">4,746</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:7.0pt;">8,384</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:7.0pt;">3,006</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:7.0pt;">5,378</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:7.0pt;">8,851</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:7.0pt;">3,022</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:7.0pt;">5,829</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 style="font-size:7.0pt;">Current service cost</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 style="font-size:7.0pt;">53</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">53</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 style="font-size:7.0pt;">61</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">61</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 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 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 style="font-size:7.0pt;">64</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:7.0pt;">Interest
  income/expense</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 style="font-size:7.0pt;">304</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 style="font-size:7.0pt;">242</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 style="font-size:7.0pt;">62</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 style="font-size:7.0pt;">292</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 style="font-size:7.0pt;">217</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 style="font-size:7.0pt;">76</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 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 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 style="font-size:7.0pt;">68</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:7.0pt;">Contributions by plan
  participants</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 style="font-size:7.0pt;">4</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 style="font-size:7.0pt;">4</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">4</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 style="font-size:7.0pt;">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 style="font-size:7.0pt;">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 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 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 style="font-size:7.0pt;">-</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:7.0pt;">Employer
  contributions</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">65</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 style="font-size:7.0pt;">(65)</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">103</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 style="font-size:7.0pt;">(103)</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 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 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 style="font-size:7.0pt;">(25)</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:7.0pt;">Past service costs <sup>(1)</sup></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 style="font-size:7.0pt;">210</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">210</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 style="font-size:7.0pt;">109</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">109</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 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 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 style="font-size:7.0pt;">231</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:7.0pt;">Remeasurements:</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 style="font-size:7.0pt;">783</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 style="font-size:7.0pt;">454</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 style="font-size:7.0pt;">329</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 style="font-size:7.0pt;">(263)</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 style="font-size:7.0pt;">(286)</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 style="font-size:7.0pt;">21</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 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 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 style="font-size:7.0pt;">171</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=#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; Return on
  plan assets </font></font><sup><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">(2)</font></font></sup></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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">454</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 style="font-size:7.0pt;">(454)</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">(286)</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 style="font-size:7.0pt;">286</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 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 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 style="font-size:7.0pt;">(161)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% 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 lang=EN-US style="font-size:7.0pt;">From changes
  in demographic assumptions</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 style="font-size:7.0pt;">(15)</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">(15)</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 style="font-size:7.0pt;">14</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">14</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 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 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 style="font-size:7.0pt;">100</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% 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 lang=EN-US style="font-size:7.0pt;">From changes
  in financial assumptions</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 style="font-size:7.0pt;">688</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">688</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 style="font-size:7.0pt;">(274)</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">(274)</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 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 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 style="font-size:7.0pt;">220</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% 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 lang=EN-US style="font-size:7.0pt;">Other
  actuarial gain and losses</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 style="font-size:7.0pt;">110</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">110</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 style="font-size:7.0pt;">(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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">(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 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 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 style="font-size:7.0pt;">12</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:7.0pt;">Benefit payments</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 style="font-size:7.0pt;">(905)</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 style="font-size:7.0pt;">(187)</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 style="font-size:7.0pt;">(718)</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 style="font-size:7.0pt;">(979)</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 style="font-size:7.0pt;">(200)</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 style="font-size:7.0pt;">(779)</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 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 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 style="font-size:7.0pt;">(861)</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:7.0pt;">Settlement payments</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 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 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 style="font-size:7.0pt;">-</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:7.0pt;">Business combinations
  and disposals</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 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 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 style="font-size:7.0pt;">-</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=EN-US style="font-size:7.0pt;">Effect on
  changes in foreign exchange rates</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 style="font-size:7.0pt;">63</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 style="font-size:7.0pt;">69</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 style="font-size:7.0pt;">(6)</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 style="font-size:7.0pt;">(31)</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 style="font-size:7.0pt;">(9)</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 style="font-size:7.0pt;">(22)</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 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 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 style="font-size:7.0pt;">(19)</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:7.0pt;">Conversions to
  defined contributions</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 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 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 style="font-size:7.0pt;">(82)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% 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;">Other&#160; effects</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">19</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">6</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">13</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">10</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">6</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:7.0pt;">4</font></font></p>
  </td>
 <td nowrap width=9% 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 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 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="background:#5AC4C4;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;">Balance at the end</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:7.0pt;">8,116</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:7.0pt;">3,493</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:7.0pt;">4,623</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:7.0pt;">7,585</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:7.0pt;">2,840</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:7.0pt;">4,745</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:7.0pt;">8,384</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:7.0pt;">3,006</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:7.0pt;">5,378</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 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">Of which: Spain</font></i></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=#A5A5A5 face=Arial,sans-serif style="border:none;"><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">4,592</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">266</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">4,326</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">4,807</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">260</font></i></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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">4,547</font></i></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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">5,442</font></i></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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">320</font></i></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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">5,122</font></i></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">Of which: Mexico</font></i></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=#A5A5A5 face=Arial,sans-serif style="border:none;"><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">2,231</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">2,124</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">107</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">1,615</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">1,587</font></i></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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">28</font></i></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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">1,661</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">1,602</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">60</font></i></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Of which: The
  United States</font></i></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=#A5A5A5 face=Arial,sans-serif style="border:none;"><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">375</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">323</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">52</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">326</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">287</font></i></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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">39</font></i></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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">360</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">309</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">51</font></i></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=21% style="height:9.0pt;padding:0cm 2.0pt 0cm 20.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">Of which: Turkey</font></i></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=#A5A5A5 face=Arial,sans-serif style="border:none;"><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">444</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">359</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">86</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">422</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">339</font></i></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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">83</font></i></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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">520</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">424</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=#A5A5A5 face=Arial,sans-serif style="border:none;"><i><font color=#A5A5A5 face=Arial,sans-serif style="font-size:7.0pt;">96</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:3.0pt;text-align:justify;"><a name="XBRL_TS_9ed650d55b3344d1a541b3b1a"></a><a name="XBRL_FS_6a75e716ee824d458a5174fc7"></a><a name="XBRL_FS_94fef0df93bd4b7bb8de620a4"></a><a name="XBRL_FS_1749d239888146a2b97e1807f"></a><a name="XBRL_FS_db97759bb9534b29af399d93c"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:normal;">(1)&#160;&#160; Including gains and
losses arising from settlements.</font></font><a name="XBRL_FS_1749d239888146a2b97e1807f_bclEnd"></a><a name="XBRL_FS_6a75e716ee824d458a5174fc7_bclEnd"></a><a name="XBRL_FS_94fef0df93bd4b7bb8de620a4_bclEnd"></a><a name="XBRL_FS_db97759bb9534b29af399d93c_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.4pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_FS_2e04bd80c908411faa976a108"></a><a name="XBRL_FS_29849503ccb34b419e0b259cc"></a><a name="XBRL_FS_79dad7c7962543afb3d50d15d"></a><a name="XBRL_FS_fabce6319ca34c8381c0d0d26"></a><a name="XBRL_FS_b5c912cbd8b646aa8c5404b1d"></a><a name="XBRL_FS_834ca541d8ed46c09fa45a039"></a><a name="XBRL_FS_6230cd7adacf41ae903f4ea33"></a><a name="XBRL_FS_6984e507c0eb477baba471e59"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:normal;">(2)&#160;&#160; Excluding interest,
which is recorded under &quot;Interest income or expense&quot;.</font></font><a name="XBRL_FS_29849503ccb34b419e0b259cc_bclEnd"></a><a name="XBRL_FS_2e04bd80c908411faa976a108_bclEnd"></a><a name="XBRL_FS_6230cd7adacf41ae903f4ea33_bclEnd"></a><a name="XBRL_FS_6984e507c0eb477baba471e59_bclEnd"></a><a name="XBRL_FS_79dad7c7962543afb3d50d15d_bclEnd"></a><a name="XBRL_FS_834ca541d8ed46c09fa45a039_bclEnd"></a><a name="XBRL_FS_b5c912cbd8b646aa8c5404b1d_bclEnd"></a><a name="XBRL_FS_fabce6319ca34c8381c0d0d26_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:8.0pt;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, 2019 includes
&#8364;351 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:8.0pt;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:8.0pt;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. In order to enable 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 assist that all decisions are made taking into consideration
all of the associated impacts.</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:8.0pt;line-height:115%;">The
following table sets out the key actuarial assumptions used in the valuation of
these commitments as of December 31, 2019, 2018 and 2017:</font></font><a name="XBRL_TS_9ed650d55b3344d1a541b3b1a_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_25_006_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Actuarial
  assumptions (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=23% 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=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=4 width=28% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">2019</font></b></font></p>
  </td>
 <td colspan=4 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">2018</font></b></font></p>
  </td>
 <td colspan=4 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:34.5pt;">
  <td nowrap width=23% 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 style="font-size:6.0pt;">&nbsp;</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Spain</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:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Mexico</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:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">The United States</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:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Spain </font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Mexico</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">The United States</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Turkey</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Spain</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Mexico</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">The United States</font></b></font></p>
  </td>
 <td width=6% style="border:none;border-bottom:solid black 1.0pt;height:34.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Turkey</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.5pt;">
  <td nowrap width=23% style="border:none;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;">Discount rate</font></font></p>
  </td>
 <td width=7% style="border:none;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 style="font-size:6.0pt;">0.68%</font></font></p>
  </td>
 <td width=7% style="border:none;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 style="font-size:6.0pt;">9.04%</font></font></p>
  </td>
 <td width=7% style="border:none;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 style="font-size:6.0pt;">3.24%</font></font></p>
  </td>
 <td width=7% style="border:none;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 style="font-size:6.0pt;">12.50%</font></font></p>
  </td>
 <td width=7% style="border:none;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 style="font-size:6.0pt;">1.28%</font></font></p>
  </td>
 <td width=6% style="border:none;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 style="font-size:6.0pt;">10.45%</font></font></p>
  </td>
 <td width=6% style="border:none;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 style="font-size:6.0pt;">4.23%</font></font></p>
  </td>
 <td width=6% style="border:none;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 style="font-size:6.0pt;">16.30%</font></font></p>
  </td>
 <td width=6% style="border:none;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 style="font-size:6.0pt;">1.24%</font></font></p>
  </td>
 <td width=6% style="border:none;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 style="font-size:6.0pt;">9.48%</font></font></p>
  </td>
 <td width=6% style="border:none;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 style="font-size:6.0pt;">3.57%</font></font></p>
  </td>
 <td width=6% style="border:none;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 style="font-size:6.0pt;">11.60%</font></font></p>
  </td>
 </tr>
<tr style="height:7.5pt;">
  <td nowrap width=23% style="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;">Rate of salary
  increase</font></font></p>
  </td>
 <td width=7% style="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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=7% style="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 style="font-size:6.0pt;">4.75%</font></font></p>
  </td>
 <td width=7% style="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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=7% style="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 style="font-size:6.0pt;">9.70%</font></font></p>
  </td>
 <td width=7% style="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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="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 style="font-size:6.0pt;">4.75%</font></font></p>
  </td>
 <td width=6% style="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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="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 style="font-size:6.0pt;">14.00%</font></font></p>
  </td>
 <td width=6% style="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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="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 style="font-size:6.0pt;">4.75%</font></font></p>
  </td>
 <td width=6% style="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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% style="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 style="font-size:6.0pt;">9.90%</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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;">Rate of pension
  increase</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">2.47%</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">8.20%</font></font></p>
  </td>
 <td 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 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=right style="border:none;margin: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;">2.51%</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">12.50%</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2.13%</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=6% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">8.40%</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=23% 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:6.0pt;">Medical cost trend
  rate</font></font></p>
  </td>
 <td width=7% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=7% 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 style="font-size:6.0pt;">7.00%</font></font></p>
  </td>
 <td width=7% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=7% 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 style="font-size:6.0pt;">12.40%</font></font></p>
  </td>
 <td width=7% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% 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 style="font-size:6.0pt;">7.00%</font></font></p>
  </td>
 <td width=6% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% 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 style="font-size:6.0pt;">16.70%</font></font></p>
  </td>
 <td width=6% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% 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 style="font-size:6.0pt;">7.00%</font></font></p>
  </td>
 <td width=6% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=6% 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 style="font-size:6.0pt;">12.60%</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td nowrap width=23% 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:6.0pt;">Mortality tables</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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">PERM/F 2000P</font></font></p>
  </td>
 <td 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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">EMSSA09</font></font></p>
  </td>
 <td 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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">RP 2014</font></font></p>
  </td>
 <td 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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CSO2001</font></font></p>
  </td>
 <td 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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PERM/F 2000P</font></font></p>
  </td>
 <td 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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">EMSSA09</font></font></p>
  </td>
 <td 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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">RP 2014</font></font></p>
  </td>
 <td 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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CSO2001</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_4404b32a066b47f7a4f8bae93"></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><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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;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:8.0pt;line-height:115%;">In Spain, the discount rate shown as of December, 31, 2019,
corresponds to the weighted average rate, the actual discount rates used are 0%
and 1% depending on the type of commitment.</font></font><a name="XBRL_TS_4404b32a066b47f7a4f8bae93_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_ebd3a23bc89b4fbab31b4b1fd"></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%;">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 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:8.0pt;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:8.0pt;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: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:8.0pt;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_ebd3a23bc89b4fbab31b4b1fd_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_25_007anual_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Sensitivity
  analysis (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=35% 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=EN-US style="font-size:8.0pt;">&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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</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=#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=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Decrease</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Decrease</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=35% 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;">Discount rate</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 style="font-size:8.0pt;">50</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 style="font-size:8.0pt;">(367)</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 style="font-size:8.0pt;">405</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 style="font-size:8.0pt;">(298)</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 style="font-size:8.0pt;">332</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=35% 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;">Rate of salary
  increase</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 style="font-size:8.0pt;">50</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 style="font-size:8.0pt;">3</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 style="font-size:8.0pt;">(3)</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 style="font-size:8.0pt;">3</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 style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=35% 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;">Rate of pension
  increase</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 style="font-size:8.0pt;">50</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 style="font-size:8.0pt;">27</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 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 style="font-size:8.0pt;">19</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 style="font-size:8.0pt;">(18)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=35% 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;">Medical cost trend
  rate</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 style="font-size:8.0pt;">100</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 style="font-size:8.0pt;">338</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 style="font-size:8.0pt;">(266)</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 style="font-size:8.0pt;">229</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 style="font-size:8.0pt;">(181)</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=35% 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=EN-US style="font-size:8.0pt;">Change in
  obligation from each additional year of longevity</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">137</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">108</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">-</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_3eebade16ab44aaf939ad4130"></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%;">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:8.0pt;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, 2019, 2018 and 2017, the actuarial liabilities for the outstanding awards
amounted to &#8364;61, &#8364;62 million and &#8364;67 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>

<h3 style="border:none;margin-bottom:10.0pt;margin-left:49.6pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-49.6pt;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">25.1.1&#160;&#160; Post-employment commitments and similar
obligations</font></b></font></h3>

<p style="border:none;margin:0cm;margin-bottom: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%;">These commitments relate mostly to
pension payments, 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:0cm;margin-bottom: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%;">In addition, during the year 2019,
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 616 employees (489 and
731 during years 2018 and 2017, respectively). These commitments include the
compensation and indemnities due as well as the contributions payable to
external pension funds during the early retirement period. As of December 31,
2019, 2018 and 2017, the value of these commitments amounted to &#8364;1,486, &#8364;1,793
million and &#8364;2,210 million, 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:8.0pt;line-height:115%;">The change
in the benefit plan obligations and plan assets during the year ended December
31, 2019 was as follows:</font></font><a name="XBRL_TS_3eebade16ab44aaf939ad4130_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_25_009.1dic_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=6 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Post-employment
  commitments&#160; 2019 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td valign=bottom width=44% style="border:none;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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 width=56% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Defined benefit obligation</font></b></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td width=44% 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=#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=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">The United States</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Turkey</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Rest of the world</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=44% style="background:#5AC4C4;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:8.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;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 style="font-size:8.0pt;">4,807</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">512</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">326</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">422</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">402</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=44% 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:8.0pt;">Current service cost</font></font></p>
  </td>
 <td width=12% 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 style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">20</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=44% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 or
  expense</font></font></p>
  </td>
 <td width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">45</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">53</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">14</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">64</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">11</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=44% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Contributions by plan
  participants</font></font></p>
  </td>
 <td width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=44% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Employer
  contributions</font></font></p>
  </td>
 <td width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=44% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Past service costs </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 width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">190</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">15</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=44% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Remeasurements:</font></font></p>
  </td>
 <td width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">298</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">99</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">44</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">49</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=44% 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;">Return on plan
  assets </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;">(2)</font></font></sup></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=44% 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 lang=EN-US style="font-size:8.0pt;">From changes
  in demographic assumptions</font></font></p>
  </td>
 <td width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(13)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=44% 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 lang=EN-US style="font-size:8.0pt;">From changes
  in financial assumptions</font></font></p>
  </td>
 <td width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">239</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">87</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">42</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(41)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">52</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=44% 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 lang=EN-US style="font-size:8.0pt;">Other
  actuarial gain and losses</font></font></p>
  </td>
 <td width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">59</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">12</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">51</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=44% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Benefit payments</font></font></p>
  </td>
 <td width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(766)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(50)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(15)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(21)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(14)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=44% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Settlement payments</font></font></p>
  </td>
 <td width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=44% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Business combinations
  and disposals</font></font></p>
  </td>
 <td width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=44% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Effect on
  changes in foreign exchange rates</font></font></p>
  </td>
 <td width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">32</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">6</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(44)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=44% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Conversions to
  defined contributions</font></font></p>
  </td>
 <td width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=44% 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:8.0pt;">Other&#160; effects</font></font></p>
  </td>
 <td width=12% 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 style="font-size:8.0pt;">14</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">6</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=44% style="background:#5AC4C4;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:8.0pt;">Balance at the end</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;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 style="font-size:8.0pt;">4,592</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">664</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">375</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">444</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">460</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=44% 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=EN-US style="font-size:8.0pt;">Of which:
  Vested benefit obligation relating to current employees</font></i></font></p>
  </td>
 <td width=12% 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=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:5.0pt;">86</font></i></font></p>
  </td>
 <td width=11% style="background:#A7A7A7;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=#A6A6A6 face=Arial,sans-serif style="border:none;"><font color=#A6A6A6 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="background:#A7A7A7;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=#A6A6A6 face=Arial,sans-serif style="border:none;"><font color=#A6A6A6 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="background:#A7A7A7;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=#A6A6A6 face=Arial,sans-serif style="border:none;"><font color=#A6A6A6 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="background:#A7A7A7;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=#A6A6A6 face=Arial,sans-serif style="border:none;"><font color=#A6A6A6 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=44% style="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=EN-US style="font-size:8.0pt;">Of which:
  Vested benefit obligation relating to retired employees</font></i></font></p>
  </td>
 <td width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:5.0pt;">4506</font></i></font></p>
  </td>
 <td width=11% style="background:#A7A7A7;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#A6A6A6 face=Arial,sans-serif style="border:none;"><font color=#A6A6A6 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="background:#A7A7A7;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#A6A6A6 face=Arial,sans-serif style="border:none;"><font color=#A6A6A6 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="background:#A7A7A7;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#A6A6A6 face=Arial,sans-serif style="border:none;"><font color=#A6A6A6 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=11% style="background:#A7A7A7;height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#A6A6A6 face=Arial,sans-serif style="border:none;"><font color=#A6A6A6 face=Arial,sans-serif style="font-size:8.0pt;">-</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:.0001pt;text-align:justify;"><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 title="F_I_25_009.2dic_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td colspan=6 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Post-employment
  commitments&#160; 2019 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td valign=bottom width=55% style="border:none;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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 width=45% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Plan assets</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=55% 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=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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Spain</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Mexico</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">The United States</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Turkey</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Rest of the world</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% style="background:#5AC4C4;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:8.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">260</font></b></font></p>
  </td>
 <td width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">441</font></b></font></p>
  </td>
 <td width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">287</font></b></font></p>
  </td>
 <td width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">339</font></b></font></p>
  </td>
 <td width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">366</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% 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:8.0pt;">Current service cost</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 or
  expense</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">44</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">12</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">53</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">8</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Contributions by plan
  participants</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Employer
  contributions</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">47</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">14</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Past service costs </font></font><sup><font color=#0066CC face=Arial,sans-serif style="border:none;"><font color=#0066CC face=Arial,sans-serif style="font-size:9.0pt;">(1)</font></font></sup></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Remeasurements:</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">67</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">90</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">28</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(5)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">50</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% 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:8.0pt;">Return on plan
  assets </font></font><sup><font color=#0066CC face=Arial,sans-serif style="border:none;"><font color=#0066CC face=Arial,sans-serif style="font-size:9.0pt;">(2)</font></font></sup></p>
  </td>
 <td 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 style="font-size:8.0pt;">67</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">90</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">28</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(5)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">50</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% 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 lang=EN-US style="font-size:8.0pt;">From changes
  in demographic assumptions</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% 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 lang=EN-US style="font-size:8.0pt;">From changes
  in financial assumptions</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% 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 lang=EN-US style="font-size:8.0pt;">Other
  actuarial gains and losses</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Benefit payments</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(64)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(50)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(13)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(10)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(11)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Settlement payments</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Business combinations
  and disposals</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(7)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Effect on
  changes in foreign exchange rates</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">27</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">6</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(34)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Conversions to
  defined contributions</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% 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:8.0pt;">Other&#160; effects</font></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=right style="border:none;margin: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;">-</font></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=right style="border:none;margin: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;">-</font></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=right style="border:none;margin: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;">-</font></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=right style="border:none;margin: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;">-</font></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=right style="border:none;margin: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;">6</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% style="background:#5AC4C4;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:8.0pt;">Balance at the end</font></b></font></p>
  </td>
 <td width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">266</font></b></font></p>
  </td>
 <td width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">592</font></b></font></p>
  </td>
 <td width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">323</font></b></font></p>
  </td>
 <td width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">359</font></b></font></p>
  </td>
 <td width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">422</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:3.0pt;text-align:justify;"><a name="XBRL_TS_9960afc6b1f44adb86e988eab"></a><a name="XBRL_FS_0695de5c3d594ecfa75e2b1f9"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:normal;">(1)&#160;&#160; Including gains and
losses arising from settlements.</font></font><a name="XBRL_FS_0695de5c3d594ecfa75e2b1f9_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_FS_a076be1ac1c940769ed987b76"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:normal;">(2)&#160;&#160;
Excluding interest, which is recorded under &quot;Interest income or expense&quot;.</font></font><a name="XBRL_FS_a076be1ac1c940769ed987b76_bclEnd"></a><a name="XBRL_TS_9960afc6b1f44adb86e988eab_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_25_009.3dic_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:11.25pt;">
  <td colspan=6 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Post-employment
  commitments&#160; 2019 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom width=55% style="border:none;height:11.25pt;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=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 width=45% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Net liability (asset)</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=55% 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=#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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Spain</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Mexico</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">The United States</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Turkey</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Rest of the world</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% style="background:#5AC4C4;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:8.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">4,547</font></b></font></p>
  </td>
 <td width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">71</font></b></font></p>
  </td>
 <td width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">39</font></b></font></p>
  </td>
 <td width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">83</font></b></font></p>
  </td>
 <td width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">36</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% 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:8.0pt;">Current service cost</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">20</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 or
  expense</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">42</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">9</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">11</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Contributions by plan
  participants</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Employer
  contributions</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(47)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(14)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Past service costs <sup>(1)</sup></font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">190</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">15</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Remeasurements:</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">231</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">9</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">16</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% 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:8.0pt;">Return on plan
  assets </font></font><sup><font color=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">(2)</font></font></sup></p>
  </td>
 <td 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 style="font-size:8.0pt;">(67)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(90)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(28)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(50)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% 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 lang=EN-US style="font-size:8.0pt;">From changes
  in demographic assumptions</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(13)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% 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 lang=EN-US style="font-size:8.0pt;">From changes
  in financial assumptions</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">239</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">87</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">42</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(41)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">52</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% 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 lang=EN-US style="font-size:8.0pt;">Other
  actuarial gain and losses</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">59</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">12</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">51</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Benefit payments</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(702)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(1)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(2)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(11)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(3)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Settlement payments</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Business combinations
  and disposals</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">7</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Effect on
  changes in foreign exchange rates</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">(9)</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Conversions to
  defined contributions</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% 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:8.0pt;">Other&#160; effects</font></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=right style="border:none;margin: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;">14</font></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=right style="border:none;margin: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;">-</font></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=right style="border:none;margin: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;">(1)</font></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=right style="border:none;margin: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;">-</font></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=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=55% style="background:#5AC4C4;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:8.0pt;">Balance at the end</font></b></font></p>
  </td>
 <td width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">4,326</font></b></font></p>
  </td>
 <td width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">72</font></b></font></p>
  </td>
 <td width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">52</font></b></font></p>
  </td>
 <td width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">86</font></b></font></p>
  </td>
 <td width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">38</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:3.0pt;text-align:justify;"><a name="XBRL_TS_e117ef1ff5024e19871460c68"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:normal;">(1)&#160;&#160;
Including gains and losses arising from settlements.</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:6.0pt;line-height:normal;">(2)&#160;&#160; Excluding interest, which is
recorded under &quot;Interest income or expense&quot;.
</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-133</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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>
<p style="border:none;margin:0cm;margin-bottom: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%;">The change
in net liabilities (assets) during the years ended 2018 and 2017 was as
follows:</font></font><a name="XBRL_TS_e117ef1ff5024e19871460c68_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_25_012anual_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:8.25pt;">
  <td colspan=11 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Post-employment
  commitments (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td width=30% style="border:none;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;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=5 width=35% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">2018: Net liability (asset)</font></b></font></p>
  </td>
 <td colspan=5 width=35% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">2017: Net liability (asset)</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=30% 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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Spain</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Mexico</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">The United States</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Turkey</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Rest of the world</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Spain</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Mexico</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">The United States</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Turkey</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Rest of the world</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=30% style="background:#5AC4C4;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 style="font-size:6.0pt;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;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 style="font-size:6.0pt;">5,122</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;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 style="font-size:6.0pt;">(18)</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;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 style="font-size:6.0pt;">51</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;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 style="font-size:6.0pt;">96</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;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 style="font-size:6.0pt;">36</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;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 style="font-size:6.0pt;">5,799</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;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 style="font-size:6.0pt;">(59)</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;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 style="font-size:6.0pt;">46</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;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 style="font-size:6.0pt;">99</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;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 style="font-size:6.0pt;">43</font></b></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=30% 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;">Current service cost</font></font></p>
  </td>
 <td width=7% 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 style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td width=7% 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 style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td width=7% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td width=7% 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 style="font-size:6.0pt;">21</font></font></p>
  </td>
 <td width=7% 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 style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td width=7% 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 style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td width=7% 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 style="font-size:6.0pt;">5</font></font></p>
  </td>
 <td width=7% 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 style="font-size:6.0pt;">3</font></font></p>
  </td>
 <td width=7% 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 style="font-size:6.0pt;">21</font></font></p>
  </td>
 <td width=7% 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 style="font-size:6.0pt;">5</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=30% 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;">Interest income or
  expense</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">59</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(2)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">8</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">73</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(6)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">9</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=30% 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;">Contributions by plan
  participants</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=30% 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;">Employer
  contributions</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(2)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(13)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(18)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(16)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(8)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=30% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Past service costs
  (1)</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">148</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">2</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">235</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">3</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=30% 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;">Remeasurements:</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(28)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">88</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(11)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">14</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(67)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">38</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">9</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">12</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=30% 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:6.0pt;">Return on plan
  assets (2)</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">4</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">70</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">17</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">21</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">11</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">(21)</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">(10)</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">(11)</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">(101)</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=30% 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=EN-US style="font-size:6.0pt;">From changes
  in demographic assumptions</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">15</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">22</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(2)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(3)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=30% 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=EN-US style="font-size:6.0pt;">From changes
  in financial assumptions</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(9)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(28)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(45)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(12)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(33)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">18</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">22</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">81</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=30% 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=EN-US style="font-size:6.0pt;">Other
  actuarial gain and losses</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(32)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">27</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">29</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(13)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">7</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">32</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(4)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=30% 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;">Benefit payments</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(763)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(2)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(11)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(3)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(842)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(2)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(11)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(3)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=30% 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;">Settlement payments</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=30% 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;">Business combinations
  and disposals</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=30% 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=EN-US style="font-size:6.0pt;">Effect on
  changes in foreign exchange rates</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(26)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">5</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(5)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(21)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(5)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=30% 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;">Conversions to
  defined contributions</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(82)</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td width=7% style="height:8.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=30% 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&#160; effects</font></font></p>
  </td>
 <td width=7% 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;">5</font></font></p>
  </td>
 <td width=7% 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;">-</font></font></p>
  </td>
 <td width=7% 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;">(1)</font></font></p>
  </td>
 <td width=7% 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;">-</font></font></p>
  </td>
 <td width=7% 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;">-</font></font></p>
  </td>
 <td width=7% 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;">2</font></font></p>
  </td>
 <td width=7% 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;">-</font></font></p>
  </td>
 <td width=7% 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;">(1)</font></font></p>
  </td>
 <td width=7% 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;">-</font></font></p>
  </td>
 <td width=7% 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;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:8.25pt;">
  <td width=30% style="background:#5AC4C4;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 style="font-size:6.0pt;">Balance at the end</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;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 style="font-size:6.0pt;">4,547</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;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 style="font-size:6.0pt;">71</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;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 style="font-size:6.0pt;">39</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;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 style="font-size:6.0pt;">83</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;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 style="font-size:6.0pt;">36</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;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 style="font-size:6.0pt;">5,122</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;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 style="font-size:6.0pt;">(18)</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;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 style="font-size:6.0pt;">51</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;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 style="font-size:6.0pt;">96</font></b></font></p>
  </td>
 <td width=7% style="background:#5AC4C4;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 style="font-size:6.0pt;">36</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:3.0pt;text-align:justify;"><a name="XBRL_TS_c2bc9f0240424d2c8d3b3a7bf"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:normal;">(1)&#160;&#160; Includes
gains and losses from settlements.</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:6.0pt;line-height:normal;">(2)&#160;&#160; Excludes interest which is
reflected in the line item &#8220;Interest income and expense&#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:8.0pt;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></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:8.0pt;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, 2019 the value of
these separate assets was &#8364;2,620 million, (&#8364;2,543 and &#8364;2,689 million as of
December 31, 2018 and 2017, respectively) representing direct rights of the
insured employees held in the consolidated balance sheet, hence these benefits
are effectively fully funded.</font></font><a name="XBRL_TS_c2bc9f0240424d2c8d3b3a7bf_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_c5b3d3404dbd4d0a87805b601"></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%;">On the other hand, some pension commitments have been funded
through insurance contracts with insurance companies not related to the Group.
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, 2019, 2018 and 2017, the value of the aforementioned insurance
policies (&#8364;266, &#8364;260 and &#8364;320 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:8.0pt;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 enable that benefits can be
met when due, enabling 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:8.0pt;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:8.0pt;line-height:115%;">In the United States there are two
defined benefit plans, 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:8.0pt;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:8.0pt;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:8.0pt;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 registered an obligation amounting to &#8364;286
million as of December 31, 2019 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:8.0pt;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>

<h3 style="border:none;margin-bottom:10.0pt;margin-left:49.6pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-49.6pt;">&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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;mso-fareast-font-family:BBVABentonSansLight;"><font face=Arial,sans-serif lang=ES style="font-size:10.0pt;line-height:115%;">F-134</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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>
<h3 style="border:none;margin-bottom:10.0pt;margin-left:49.6pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-49.6pt;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">25.1.2&#160;&#160; Medical
benefit commitments</font></b></font></h3>

<p style="border:none;margin:0cm;margin-bottom: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;">The change in defined benefit obligations and plan assets during
the years 2019, 2018 and 2017 was as follows:</font></font><a name="XBRL_TS_c5b3d3404dbd4d0a87805b601_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_25_018dic_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:7.0pt;">Medical benefits
  commitments</font></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td nowrap width=28% style="border:none;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 nowrap 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2019</font></b></font></p>
  </td>
 <td colspan=3 nowrap 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2018</font></b></font></p>
  </td>
 <td colspan=3 nowrap 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:42.75pt;">
  <td nowrap 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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Net liability (asset)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=28% style="background:#5AC4C4;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;">Balance at the
  beginning</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:7.0pt;">1,114</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:7.0pt;">1,146</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:7.0pt;">(32)</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:7.0pt;">1,204</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:7.0pt;">1,114</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:7.0pt;">91</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:7.0pt;">1,015</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:7.0pt;">1,113</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:7.0pt;">(98)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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 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 style="font-size:7.0pt;">21</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 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 style="font-size:7.0pt;">21</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 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 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 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 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 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 style="font-size:7.0pt;">26</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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;">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 style="font-size:7.0pt;">119</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 style="font-size:7.0pt;">123</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 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 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 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 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 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 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 style="font-size:7.0pt;">(11)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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;">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 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 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 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 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 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 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 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 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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;">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 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 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 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 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 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 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 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 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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;">Past service costs </font></font><sup><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">(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 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 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 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 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 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 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 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 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 style="font-size:7.0pt;">(11)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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;">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 style="font-size:7.0pt;">298</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 style="font-size:7.0pt;">224</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 style="font-size:7.0pt;">74</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 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 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 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 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 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 style="font-size:7.0pt;">179</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=28% 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;">Return on plan
  assets </font></font><sup><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:5.0pt;">(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 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 style="font-size:7.0pt;">224</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 style="font-size:7.0pt;">(224)</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 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 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 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 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 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 style="font-size:7.0pt;">(21)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=28% 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 lang=EN-US 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 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 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 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 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 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 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 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 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 style="font-size:7.0pt;">83</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=28% 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 lang=EN-US 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 style="font-size:7.0pt;">311</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 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 style="font-size:7.0pt;">311</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 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 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 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 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 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 style="font-size:7.0pt;">128</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=28% 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 lang=EN-US 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 style="font-size:7.0pt;">(13)</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 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 style="font-size:7.0pt;">(13)</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 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 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 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 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 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 style="font-size:7.0pt;">(10)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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;">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 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 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 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 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 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 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 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 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 style="font-size:7.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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;">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 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 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 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 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 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 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 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 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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;">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 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 style="font-size:7.0pt;">7</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 style="font-size:7.0pt;">(7)</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 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 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 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 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 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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=EN-US 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 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 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 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 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 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 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 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 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 style="font-size:7.0pt;">8</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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 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 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 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 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 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 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 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 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 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=28% style="background:#5AC4C4;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;">Balance at the end</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:7.0pt;">1,580</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:7.0pt;">1,532</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:7.0pt;">48</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:7.0pt;">1,114</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:7.0pt;">1,146</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:7.0pt;">(32)</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:7.0pt;">1,204</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:7.0pt;">1,114</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:7.0pt;">91</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:35.45pt;margin-right:0cm;margin-top:3.0pt;text-align:justify;"><a name="XBRL_TS_2bbd4204cf13459582fdda9d7"></a><a name="XBRL_FS_027b1615aaa24e93a4cef1e4e"></a><a name="XBRL_FS_bc8307e6e20c4d96a45918142"></a><a name="XBRL_FS_41a7f7b7f78d4c99bdc2347a6"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:normal;">(1)&#160;&#160; Including gains and
losses arising from settlements.</font></font><a name="XBRL_FS_027b1615aaa24e93a4cef1e4e_bclEnd"></a><a name="XBRL_FS_41a7f7b7f78d4c99bdc2347a6_bclEnd"></a><a name="XBRL_FS_bc8307e6e20c4d96a45918142_bclEnd"></a></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:35.4pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_FS_a3dd383713be49ce95145cc3e"></a><a name="XBRL_FS_620826df092d45ea9f08ec986"></a><a name="XBRL_FS_62619607cfe44620affea40a4"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:normal;">(2)&#160;&#160; Excluding interest,
which is recorded under &quot;Interest income or expense&quot;.</font></font><a name="XBRL_FS_620826df092d45ea9f08ec986_bclEnd"></a><a name="XBRL_FS_62619607cfe44620affea40a4_bclEnd"></a><a name="XBRL_FS_a3dd383713be49ce95145cc3e_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:8.0pt;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:8.0pt;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:8.0pt;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></p>

<h3 style="border:none;margin-bottom:10.0pt;margin-left:49.65pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-49.65pt;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">25.1.3&#160;&#160; Estimated benefit payments</font></b></font></h3>

<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:8.0pt;line-height:115%;">As of
December 31, 2019, 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_2bbd4204cf13459582fdda9d7_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_25_017_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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 align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2024</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2025-2029</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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 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 style="font-size:8.0pt;">621</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 style="font-size:8.0pt;">544</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 style="font-size:8.0pt;">449</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 style="font-size:8.0pt;">360</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 style="font-size:8.0pt;">288</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 style="font-size:8.0pt;">903</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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 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 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 style="font-size:8.0pt;">110</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 style="font-size:8.0pt;">117</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 style="font-size:8.0pt;">125</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 style="font-size:8.0pt;">132</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 style="font-size:8.0pt;">808</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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=EN-US style="font-size:8.0pt;">Commitments in
  the 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 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 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 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 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 style="font-size:8.0pt;">20</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 style="font-size:8.0pt;">107</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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 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 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 style="font-size:8.0pt;">22</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 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 style="font-size:8.0pt;">22</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 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 style="font-size:8.0pt;">200</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=28% style="background:#5AC4C4;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 </font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">764</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">694</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">603</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">526</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">465</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">2,018</font></b></font></p>
  </td>
 </tr>
</table></div>



<h3 style="border:none;margin-bottom:10.0pt;margin-left:49.6pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-49.6pt;"><a name="XBRL_TS_33e7fa1c339b4f28b77bb21c1"></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:9.0pt;">25.1.4&#160;&#160; Plan assets </font></b></font></h3>

<p style="border:none;margin:0cm;margin-bottom: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%;">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.</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:8.0pt;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:8.0pt;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>


<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-135</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_376"></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:8.0pt;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><a name="XBRL_TS_33e7fa1c339b4f28b77bb21c1_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_43716f3e03db4991a395ef2aa"></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%;">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:8.0pt;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;page-break-after:avoid;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">The table below shows the allocation of plan assets of the main
companies of the BBVA Group as of December 31, 2019, 2018 and 2017:</font></font><a name="XBRL_TS_43716f3e03db4991a395ef2aa_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_25_016_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Plan assets
  breakdown (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td nowrap width=43% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td nowrap width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td nowrap width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=43% 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;">Cash or cash
  equivalents</font></font></p>
  </td>
 <td nowrap width=19% 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 style="font-size:8.0pt;">56</font></font></p>
  </td>
 <td nowrap width=19% 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 style="font-size:8.0pt;">26</font></font></p>
  </td>
 <td nowrap width=19% 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 style="font-size:8.0pt;">68</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=43% 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;">Debt securities
  (government bonds)</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,668</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,080</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,178</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=43% 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;">Property</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=43% 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;">Mutual funds</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=43% 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;">Insurance contracts</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">142</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">132</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=43% 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 investments</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 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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</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 style="font-size:8.0pt;">10</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=43% style="background:#09C4C4;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</font></b></font></p>
  </td>
 <td nowrap width=19% style="background:#09C4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">2,869</font></b></font></p>
  </td>
 <td nowrap width=19% style="background:#09C4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">2,241</font></b></font></p>
  </td>
 <td nowrap width=19% style="background:#09C4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">2,261</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=43% style="border:none;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=EN-US style="font-size:8.0pt;">Of which:
  Bank account in BBVA</font></i></font></p>
  </td>
 <td nowrap width=19% 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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">4</font></i></font></p>
  </td>
 <td nowrap width=19% 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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">3</font></i></font></p>
  </td>
 <td nowrap width=19% 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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">5</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=43% 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=EN-US style="font-size:8.0pt;">Of which:
  Debt securities issued by BBVA</font></i></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;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 style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;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 style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;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 style="font-size:8.0pt;">3</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=43% 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=EN-US style="font-size:8.0pt;">Of which:
  Property occupied by BBVA</font></i></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;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 style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;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 style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;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 style="font-size:8.0pt;">-</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:10.0pt;text-align:justify;"><a name="XBRL_TS_3cecf8dd3d0643cea2ef703bf"></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%;">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;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%;">The
following table provides details of investments in listed securities (Level 1)
as of December 31, 2019, 2018 and 2017:</font></font><a name="XBRL_TS_3cecf8dd3d0643cea2ef703bf_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_25_016.2_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">Investments in
  listed markets</font></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td nowrap width=43% 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 nowrap width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td nowrap width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td nowrap width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=43% 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;">Cash or cash
  equivalents</font></font></p>
  </td>
 <td nowrap width=19% 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 style="font-size:8.0pt;">56</font></font></p>
  </td>
 <td nowrap width=19% 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 style="font-size:8.0pt;">26</font></font></p>
  </td>
 <td nowrap width=19% 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 style="font-size:8.0pt;">68</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=43% 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;">Debt securities
  (Government bonds)</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,668</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,080</font></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,178</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=43% 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;">Mutual funds</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 style="font-size:8.0pt;">2</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 style="font-size:8.0pt;">2</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 style="font-size:8.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=43% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=19% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">2,727</font></b></font></p>
  </td>
 <td nowrap width=19% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">2,109</font></b></font></p>
  </td>
 <td nowrap width=19% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">2,247</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=43% style="border:none;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=EN-US style="font-size:8.0pt;">Of which: Bank
  account in BBVA</font></i></font></p>
  </td>
 <td nowrap width=19% 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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">4</font></i></font></p>
  </td>
 <td nowrap width=19% 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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">3</font></i></font></p>
  </td>
 <td nowrap width=19% 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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">5</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=43% 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=EN-US style="font-size:8.0pt;">Of which:
  Debt securities issued by BBVA</font></i></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;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 style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;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 style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;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 style="font-size:8.0pt;">3</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=43% 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=EN-US style="font-size:8.0pt;">Of which:
  Property occupied by BBVA</font></i></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;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 style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;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 style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=19% style="height:12.75pt;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 style="font-size:8.0pt;">-</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:10.0pt;text-align:justify;"><a name="XBRL_TS_453ce91df19d41e68246e499f"></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%;">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, 2019, almost all of the assets related to employee
commitments corresponded to fixed income securities.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-36.0pt;"><font color=#004480 face=Arial,sans-serif style="border:none;"><b><font color=#004480 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">25.2&#160;&#160; Defined contribution plans</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:8.0pt;line-height:115%;">Certain </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Group</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> 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-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:8.0pt;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_453ce91df19d41e68246e499f_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_6c423a7536f44681870572711"></a><a name="_Toc457490033"></a><a name="_Toc474142290"></a><a name="_Toc481589088"></a><a name="_Toc495478140"></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-136</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_377"></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:11.0pt;">26.&#160;&#160; Common stock</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:8.0pt;line-height:115%;">As of December 31, 2019, 2018 and
2017, BBVA&#8217;s common stock amounted to &#8364;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">3,267,264,424.20</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> divided into
6,667,886,580 fully subscribed and paid-up registered shares, all of the same
class and series, at &#8364;0.49 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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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:8.0pt;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:8.0pt;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:8.0pt;line-height:115%;">Additionally, as of December 31,
2019, the shares of Banco BBVA Peru, S.A.; Banco Provincial, S.A.; Banco BBVA
Colombia, S.A.; Banco BBVA Argentina, S.A. and Garanti BBVA A.S., were listed
on their respective local stock markets. Banco BBVA Argentina, S.A. was also
quoted in the Latin American market (Latibex) of the Madrid Stock Exchange and
the New York Stock Exchange. Also, the Depositary Receipts (&#8220;DR&#8221;) of Garanti
BBVA, A.S. are listed in the London 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:8.0pt;line-height:115%;">As of December 31, 2019, 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 <a name="XBRL_CS_4f9ae368cce549e39bfac3c3a"></a>11.68%<a name="XBRL_CS_4f9ae368cce549e39bfac3c3a_bclEnd"></a>, <a name="XBRL_CS_d728d0f35e36429a80da9ae79"></a>2.03%<a name="XBRL_CS_d728d0f35e36429a80da9ae79_bclEnd"></a>, and <a name="XBRL_CS_67311d615625411e8b486d002"></a>6.64%<a name="XBRL_CS_67311d615625411e8b486d002_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></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:8.0pt;line-height:115%;">On February 5, 2020, Blackrock,
Inc. reported to the SEC that, as of December 31, 2019, it beneficially owned
6.3% of BBVA&#8217;s 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:8.0pt;line-height:115%;">On February 3, 2020, Norges Bank
reported to the Spanish Securities and Exchange Commission (CNMV) that it had
an indirect holding of BBVA S.A. common stock totaling 3.066%, of which 3.051%
are voting rights attributed to shares, and 0.015% are voting rights through
financial instruments.</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:8.0pt;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: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%;">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_6c423a7536f44681870572711_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;"><a name="XBRL_TS_6e55e434906543dc8d6f26c22"></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:9.0pt;">Resolutions adopted by the Annual General Meeting</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Capital increase</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:8.0pt;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, 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 also 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 and this limit not being applicable to contingent
convertible issues) shall not exceed the nominal maximum overall amount of 20%
of the share capital of BBVA at the time of the authorization.</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:8.0pt;line-height:115%;">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></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&#8220;Dividend Option&#8221;
Program 2017:</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:8.0pt;line-height:115%;">Note 4 introduces
the details of the remuneration system &#8220;Dividend Option&#8221;.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;page-break-after:avoid;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Convertible and/or
exchangeable 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:8.0pt;line-height:115%;">Note 22.4</font></font><font face=Arial,sans-serif style="border:none;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> &nbsp;</font></b></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">introduces the details of the
convertible and/or exchangeable securities.</font></font><a name="XBRL_TS_6e55e434906543dc8d6f26c22_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_3f77fbee431b40a39f7ff43e3"></a><a name="_Toc298431728"></a><a name="_Toc299029464"></a><a name="_Toc299031546"></a><a name="_Toc299032885"></a><a name="_Toc331260326"></a><a name="_Toc347755864"></a><a name="_Toc376949983"></a><a name="_Toc457490034"></a><a name="_Toc474142291"></a><a name="_Toc481589089"></a><a name="_Toc495478141"></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-137</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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">

<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:11.0pt;">27.&#160;&#160; Share
premium</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:8.0pt;line-height:115%;">As of December 31, 2019, 2018 and
2017, 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:8.0pt;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_3f77fbee431b40a39f7ff43e3_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_19a7e1a3500d452e9b5808b0d"></a><a name="_Toc457490035"></a><a name="_Toc474142292"></a><a name="_Toc481589090"></a><a name="_Toc495478142"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">28.&#160;&#160;
Retained earnings, revaluation reserves and other reserves</font></b></font></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">28.1&#160;&#160; Breakdown of the balance </font></b></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:8.0pt;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_19a7e1a3500d452e9b5808b0d_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_28_001_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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=53% 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 lang=EN-US 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 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 lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=53% 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;">Legal reserve</font></font></p>
  </td>
 <td width=11% 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 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=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 style="font-size:8.0pt;">653</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 style="font-size:8.0pt;">653</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 style="font-size:8.0pt;">644</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=53% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</font></font></p>
  </td>
 <td width=11% style="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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">124</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 style="font-size:8.0pt;">133</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 style="font-size:8.0pt;">159</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=53% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Reserves for
  regularizations and balance revaluations</font></font></p>
  </td>
 <td width=11% style="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=EN-US style="font-size:8.0pt;">&nbsp;</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 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 style="font-size:8.0pt;">3</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 style="font-size:8.0pt;">12</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=53% 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;">Voluntary reserves</font></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=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=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 style="font-size:8.0pt;">8,331</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 style="font-size:8.0pt;">8,010</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 style="font-size:8.0pt;">8,643</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=53% style="background:#5AC4C4;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 reserves
  holding company</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;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=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">9,108</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">8,799</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">9,458</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=53% 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=EN-US style="font-size:8.0pt;">Consolidation
  reserves attributed to the Bank and dependent consolidated companies.</font></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;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=EN-US style="font-size:8.0pt;">&nbsp;</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">17,169</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">14,222</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">14,266</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=53% style="background:#5AC4C4;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 </font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;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=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">26,277</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">23,021</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">23,724</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;"><a name="XBRL_TS_e29fd6a0859b4ec5be39539ad"></a><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">28.2&#160;&#160; Legal reserve </font></b></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:8.0pt;line-height:115%;">Under the amended Spanish 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:8.0pt;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></p>

<p style="border:none;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">28.3&#160;&#160; Restricted reserves</font></b></font></p>

<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:8.0pt;">As of December 31, 2019, 2018 and
2017, the Bank&#8217;s restricted reserves are as follows:</font></font><a name="XBRL_TS_e29fd6a0859b4ec5be39539ad_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_28_002_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:13.5pt;">
  <td colspan=5 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Restricted
  reserves. Breakdown by concepts (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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=EN-US 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 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 lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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 lang=EN-US 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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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 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 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 style="font-size:8.0pt;">88</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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 lang=EN-US 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: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=EN-US 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 style="font-size:8.0pt;">34</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">44</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">69</font></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;"><font color=black face=Arial,sans-serif lang=EN-US 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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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 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 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 style="font-size:8.0pt;">2</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=56% style="background:#5AC4C4;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 </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">124</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">133</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">159</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_TS_57a0aa5add8c46a4a86fb5ba2"></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%;">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:8.0pt;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:8.0pt;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></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-138</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:normal;">28.4&#160;&#160; Retained earnings, revaluation reserves and other reserves
by entity</font></b></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:8.0pt;line-height:115%;">The
breakdown, by company or corporate group, under the headings &#8220;Retained
earnings, revaluation reserves&#8221; and &#8220;other reserves&#8221; in the accompanying
consolidated balance sheets is as follows:</font></font><a name="XBRL_TS_57a0aa5add8c46a4a86fb5ba2_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_28_003_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:13.5pt;">
  <td colspan=5 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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=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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=EN-US 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 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 lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Retained
  earnings (losses) and revaluation reserves</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 lang=EN-US 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 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=EN-US 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 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=EN-US 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 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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">Holding Company </font></font></p>
  </td>
 <td width=11% 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 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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">16,623</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 style="font-size:8.0pt;">14,701</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 style="font-size:8.0pt;">15,759</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">BBVA Mexico Group</font></font></p>
  </td>
 <td width=11% style="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 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 style="font-size:8.0pt;">10,645</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:8.0pt;">9,442</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">Garanti BBVA Group</font></font></p>
  </td>
 <td width=11% style="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 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 style="font-size:8.0pt;">1,985</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:8.0pt;">751</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">BBVA Colombia Group</font></font></p>
  </td>
 <td width=11% style="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 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 style="font-size:8.0pt;">1,130</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:8.0pt;">926</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">Corporaci&#243;n General
  Financiera S.A.</font></font></p>
  </td>
 <td width=11% style="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 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 style="font-size:8.0pt;">932</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:8.0pt;">1,202</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">BBVA Per&#250; Group</font></font></p>
  </td>
 <td width=11% style="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 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 style="font-size:8.0pt;">848</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:8.0pt;">681</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">BBV Am&#233;rica, S.L.</font></font></p>
  </td>
 <td width=11% style="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 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 style="font-size:8.0pt;">247</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">217</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">195</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">Catalunyacaixa
  Inmobiliaria, S.A.</font></font></p>
  </td>
 <td width=11% style="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 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 style="font-size:8.0pt;">225</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">233</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">11</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">BBVA Chile Group</font></font></p>
  </td>
 <td width=11% style="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 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 style="font-size:8.0pt;">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 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 style="font-size:8.0pt;">951</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">BBVA Paraguay</font></font></p>
  </td>
 <td width=11% style="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 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 style="font-size:8.0pt;">130</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:8.0pt;">108</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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 lang=EN-US style="font-size:8.0pt;">Bilbao Vizcaya
  Holding, S.A.</font></font></p>
  </td>
 <td width=11% style="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=EN-US 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 style="font-size:8.0pt;">62</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:8.0pt;">(73)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">Compa&#241;&#237;a de Cartera e
  Inversiones, S.A.</font></font></p>
  </td>
 <td width=11% style="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 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 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 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 style="font-size:8.0pt;">(20)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">Gran Jorge Juan, S.A.</font></font></p>
  </td>
 <td width=11% style="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 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 style="font-size:8.0pt;">27</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(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 style="font-size:8.0pt;">(47)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">Banco Industrial de
  Bilbao, S.A.</font></font></p>
  </td>
 <td width=11% style="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 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 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 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 style="font-size:8.0pt;">25</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">BBVA Luxinvest, S.A.</font></font></p>
  </td>
 <td width=11% style="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 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 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 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 style="font-size:8.0pt;">25</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">Pecri Inversi&#243;n S.L.</font></font></p>
  </td>
 <td width=11% style="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 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 style="font-size:8.0pt;">(50)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(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 style="font-size:8.0pt;">(76)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">BBVA Suiza, S.A.</font></font></p>
  </td>
 <td width=11% style="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 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 style="font-size:8.0pt;">(52)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(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 style="font-size:8.0pt;">(57)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">BBVA Portugal Group</font></font></p>
  </td>
 <td width=11% style="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 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 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 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 style="font-size:8.0pt;">(436)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">BBVA Seguros, S.A.</font></font></p>
  </td>
 <td width=11% style="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 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 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 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 style="font-size:8.0pt;">(215)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">BBVA Venezuela Group</font></font></p>
  </td>
 <td width=11% style="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 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 style="font-size:8.0pt;">(125)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(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 style="font-size:8.0pt;">(113)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">Grupo BBVA USA
  Bancshares</font></font></p>
  </td>
 <td width=11% style="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 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 style="font-size:8.0pt;">(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 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 style="font-size:8.0pt;">(794)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">BBVA Argentina Group</font></font></p>
  </td>
 <td width=11% style="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 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 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 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 style="font-size:8.0pt;">999</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">Anida Grupo
  Inmobiliario, S.L.</font></font></p>
  </td>
 <td width=11% style="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 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 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 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 style="font-size:8.0pt;">515</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">Unnim Real Estate</font></font></p>
  </td>
 <td width=11% style="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 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 style="font-size:8.0pt;">(594)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(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 style="font-size:8.0pt;">(576)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">Anida Operaciones
  Singulares, S.L.</font></font></p>
  </td>
 <td width=11% style="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 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 style="font-size:8.0pt;">(5,375)</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 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 style="font-size:8.0pt;">(4,881)</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 style="font-size:8.0pt;">Other</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=right style="border:none;margin: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="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">188</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(618)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(544)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="background:#5AC4C4;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;">Subtotal</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;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:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">26,402</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">23,079</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">23,758</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Other
  reserves or accumulated losses of investments in joint ventures and
  associates</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 lang=EN-US 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 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=EN-US 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 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=EN-US 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 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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">Metrovacesa, S.A.</font></font></p>
  </td>
 <td width=11% 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 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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(75)</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 style="font-size:8.0pt;">(61)</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 style="font-size:8.0pt;">(53)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;">ATOM Bank PLC</font></font></p>
  </td>
 <td width=11% style="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 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 style="font-size:8.0pt;">(56)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(28)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(12)</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other</font></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=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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">6</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 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 style="font-size:8.0pt;">30</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="background:#5AC4C4;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;">Subtotal</font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;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 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:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">(125)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">(58)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">(35)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=56% style="background:#5AC4C4;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 </font></b></font></p>
  </td>
 <td width=11% style="background:#5AC4C4;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 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:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">26,277</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">23,021</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">23,724</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_TS_5eb5e2d366ff4003b0b56e433"></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%;">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_5eb5e2d366ff4003b0b56e433_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="_Toc298431730"></a><a name="_Toc299029466"></a><a name="_Toc299031548"></a><a name="_Toc299032887"></a><a name="_Toc331260328"></a><a name="_Toc376949987"></a><a name="XBRL_TS_452b6afdb5c04c2780ff43b9f"></a><a name="_Toc457490036"></a><a name="_Toc474142296"></a><a name="_Toc481589091"></a><a name="_Toc495478143"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">29.&#160;&#160;
Treasury shares</font></b></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:8.0pt;line-height:115%;">In the years
ended December 31, 2019, 2018 and 2017 the Group entities performed the
following transactions with shares issued by the Bank:</font></font><a name="XBRL_TS_452b6afdb5c04c2780ff43b9f_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_29_001_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Treasury
  shares (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=40% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">2019</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:35.1pt;">
  <td width=40% style="border:none;border-bottom:solid black 1.0pt;height:35.1pt;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-bottom:solid black 1.0pt;height:35.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Millions of Euros</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td nowrap width=40% style="background:#5AC4C4;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 style="font-size:6.0pt;">Balance at beginning</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:7.9pt;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 style="font-size:6.0pt;">47,257,691</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:7.9pt;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 style="font-size:6.0pt;">296</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:7.9pt;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 style="font-size:6.0pt;">13,339,582</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:7.9pt;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 style="font-size:6.0pt;">96</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:7.9pt;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 style="font-size:6.0pt;">7,230,787</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:7.9pt;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 style="font-size:6.0pt;">48</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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 style="font-size:6.0pt;">&#160;+ Purchases</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 style="font-size:6.0pt;">214,925,699</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 style="font-size:6.0pt;">1,088</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 style="font-size:6.0pt;">279,903,844</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 style="font-size:6.0pt;">1,683</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 style="font-size:6.0pt;">238,065,297</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 style="font-size:6.0pt;">1,674</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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;">&#160;- Sales and other
  changes</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 style="font-size:6.0pt;">(249,566,201)</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 style="font-size:6.0pt;">(1,298)</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 style="font-size:6.0pt;">(245,985,735)</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 style="font-size:6.0pt;">(1,505)</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 style="font-size:6.0pt;">(231,956,502)</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 style="font-size:6.0pt;">(1,622)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap 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;">&#160;+/- Derivatives on
  BBVA shares</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 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 style="font-size:6.0pt;">(23)</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 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 style="font-size:6.0pt;">23</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 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 style="font-size:6.0pt;">(4)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap valign=bottom width=40% 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 style="font-size:6.0pt;">&#160;+/- Other changes</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:7.9pt;">
  <td nowrap width=40% style="background:#5AC4C4;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 style="font-size:6.0pt;">Balance at the end</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:7.9pt;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 style="font-size:6.0pt;">12,617,189</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:7.9pt;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 style="font-size:6.0pt;">62</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:7.9pt;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 style="font-size:6.0pt;">47,257,691</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:7.9pt;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 style="font-size:6.0pt;">296</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:7.9pt;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 style="font-size:6.0pt;">13,339,582</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:7.9pt;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 style="font-size:6.0pt;">96</font></b></font></p>
  </td>
 </tr>
<tr style="height:7.5pt;">
  <td nowrap width=40% style="border:none;height:7.5pt;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;"><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">Of which:</font></i></font></p>
  </td>
 <td nowrap width=10% style="border:none;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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=40% style="height:11.25pt;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=EN-US style="font-size:6.0pt;">Held by BBVA,
  S.A.</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=40% style="height:9.75pt;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 style="font-size:6.0pt;">Held by Corporaci&#243;n
  General Financiera, S.A.</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">12,617,189</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">62</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">47,257,691</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">296</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">13,339,582</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">96</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=40% 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 style="font-size:6.0pt;">Held by other
  subsidiaries</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap valign=bottom 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=EN-US style="font-size:6.0pt;">Average
  purchase price in Euros</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 style="font-size:6.0pt;">5.06</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">6.11</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">7.03</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=40% 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=EN-US style="font-size:6.0pt;">Average selling
  price in Euros</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 style="font-size:6.0pt;">5.20</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">6.25</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">6.99</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap valign=bottom width=40% 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=EN-US 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 lang=EN-US 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 style="font-size:6.0pt;">(Shareholders' funds-Reserves)</font></font></p>
  </td>
 <td nowrap width=10% 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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">13</font></font></p>
  </td>
 <td nowrap width=10% 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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">(24)</font></font></p>
  </td>
 <td nowrap width=10% 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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">1</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-139</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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>
<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_43cd9cd2b9564653b294d4ebc"></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%;">The percentages of treasury shares held by the Group in the years
ended December 31, 2019, 2018 and 2017 are as follows:</font></font><a name="XBRL_TS_43cd9cd2b9564653b294d4ebc_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_29_002_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:7.0pt;">Treasury Stock</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=28% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2019</font></b></font></p>
  </td>
 <td colspan=3 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.95pt;">
  <td width=28% 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=#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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Min</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:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Max</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:24.95pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Closing</font></b></font></p>
  </td>
 <td width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Min</font></b></font></p>
  </td>
 <td width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Max</font></b></font></p>
  </td>
 <td width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Closing</font></b></font></p>
  </td>
 <td width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Min</font></b></font></p>
  </td>
 <td width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Max</font></b></font></p>
  </td>
 <td width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Closing</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap valign=bottom 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 style="font-size:7.0pt;">% treasury stock</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 style="font-size:7.0pt;">0.138%</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 style="font-size:7.0pt;">0.746%</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 style="font-size:7.0pt;">0.213%</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 style="font-size:7.0pt;">0.200%</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 style="font-size:7.0pt;">0.850%</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 style="font-size:7.0pt;">0.709%</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 style="font-size:7.0pt;">0.004%</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 style="font-size:7.0pt;">0.278%</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 style="font-size:7.0pt;">0.200%</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;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_697bf067a8b247508ad73b70e"></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%;">The number of BBVA shares accepted by the Group in pledge of loans
as of December 31, 2019, 2018 and 2017 is as follows:</font></font><a name="XBRL_TS_697bf067a8b247508ad73b70e_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_29_003_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Shares of
  BBVA accepted in pledge</font></font></p>
  </td>
 </tr>
<tr style="height:28.5pt;">
  <td width=47% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=47% 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=EN-US style="font-size:8.0pt;">Number of
  shares in pledge</font></font></p>
  </td>
 <td nowrap width=13% 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=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">43,018,382</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">61,632,832</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 style="font-size:8.0pt;">64,633,003</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=47% 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;">Nominal value</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">0.49</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.49</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 style="font-size:8.0pt;">0.49</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=47% 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;">% of share capital</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">0.65%</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.92%</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 style="font-size:8.0pt;">0.97%</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;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_2d7debcc50f74db194fa6d6bf"></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%;">The number of BBVA shares owned by third parties but under
management of a company within the Group as of December 31, 2019, 2018 and 2017
is as follows:</font></font><a name="XBRL_TS_2d7debcc50f74db194fa6d6bf_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_29_004_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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=47% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=47% 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=EN-US style="font-size:8.0pt;">Number of
  shares owned by third parties</font></font></p>
  </td>
 <td nowrap width=13% 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=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">23,807,398</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">25,306,229</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 style="font-size:8.0pt;">34,597,310</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=47% 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;">Nominal value</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">0.49</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.49</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 style="font-size:8.0pt;">0.49</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=47% 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;">% of share capital</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">0.36%</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.38%</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 style="font-size:8.0pt;">0.52%</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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=ES-TRAD style="font-size:8.0pt;">&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-140</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</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>
<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=ES-TRAD style="font-size:8.0pt;">&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="XBRL_TS_c80a309aa47748ab8f091864c"></a><a name="_Toc457490037"></a><a name="_Toc474142297"></a><a name="_Toc481589092"></a><a name="_Toc495478144"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">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:11.0pt;"> (loss)</font></b></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:8.0pt;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_c80a309aa47748ab8f091864c_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalance_030_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Accumulated
  other comprehensive income (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td width=60% style="border:none;border-bottom:solid black 1.0pt;height:19.5pt;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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017(*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=60% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Items that
  will not be reclassified to profit or loss</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US 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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">(1,875)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(1,284)</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">(1,183)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=60% 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=EN-US style="font-size:7.0pt;">Actuarial gains
  (losses) on defined benefit pension 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=EN-US style="font-size:7.0pt;">&nbsp;</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 style="font-size:8.0pt;">(1,498)</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 style="font-size:8.0pt;">(1,245)</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 style="font-size:8.0pt;">(1,183)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Non-current
  assets and disposal groups classified as held for sale</font></font></p>
  </td>
 <td 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=EN-US style="font-size:7.0pt;">&nbsp;</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 style="font-size:8.0pt;">2</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=60% 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=EN-US 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=10% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=60% 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=EN-US 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=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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">13.4</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">(403)</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">(155)</font></font></p>
  </td>
 <td nowrap width=10% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=60% 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=EN-US 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=10% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=60% 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=EN-US 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=10% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">24</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">116</font></font></p>
  </td>
 <td nowrap width=10% style="background:silver;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=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>
 </tr>
<tr style="height:18.0pt;">
  <td width=60% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Items that
  may be reclassified to profit or loss</font></b></font></p>
  </td>
 <td width=10% 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 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US 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: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 style="font-size:8.0pt;">(5,359)</font></b></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">(5,932)</font></b></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">(5,755)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=60% 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=EN-US style="font-size:7.0pt;">Hedge of net
  investments in foreign operations (effective portion)</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=EN-US style="font-size:7.0pt;">&nbsp;</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 style="font-size:8.0pt;">(896)</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 style="font-size:8.0pt;">(218)</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 style="font-size:8.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">Foreign currency
  translation </font></font></p>
  </td>
 <td 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:7.0pt;">&nbsp;</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 style="font-size:8.0pt;">(6,161)</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 style="font-size:8.0pt;">(6,643)</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 style="font-size:8.0pt;">(7,297)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Hedging
  derivatives. Cash flow hedges (effective portion)</font></font></p>
  </td>
 <td 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=EN-US style="font-size:7.0pt;">&nbsp;</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 style="font-size:8.0pt;">(44)</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 style="font-size:8.0pt;">(6)</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 style="font-size:8.0pt;">(34)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Financial
  assets available for sale</font></font></p>
  </td>
 <td 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=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">1,641</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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 lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">13.4</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 style="font-size:8.0pt;">1,760</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 style="font-size:8.0pt;">943</font></font></p>
  </td>
 <td nowrap width=10% 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=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>
 </tr>
<tr style="height:12.75pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Hedging
  instruments (non-designated items)</font></font></p>
  </td>
 <td 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=EN-US style="font-size:7.0pt;">&nbsp;</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Non-current
  assets and disposal groups classified as held for sale</font></font></p>
  </td>
 <td 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=EN-US style="font-size:7.0pt;">&nbsp;</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 style="font-size:8.0pt;">(18)</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 style="font-size:8.0pt;">1</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 style="font-size:8.0pt;">(26)</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=60% 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=EN-US 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=10% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">(9)</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">(40)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=60% style="background:#5AC4C4;border:none;border-bottom:solid 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</font></b></font></p>
  </td>
 <td width=10% style="background:#5AC4C4;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">(7,235)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">(7,215)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">(6,939)</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;text-align:justify;"><a name="XBRL_TS_618740cb20744616aaa2e0e6b"></a><a name="XBRL_FS_39c13d7b85144315833a37458"></a><a name="XBRL_FS_14ad377f249b4e67b84d368b6"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*) See Note 1.3</font></font><a name="XBRL_FS_14ad377f249b4e67b84d368b6_bclEnd"></a><a name="XBRL_FS_39c13d7b85144315833a37458_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;"> &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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The balances recognized under these headings are presented net of
tax.</font></font><a name="XBRL_TS_618740cb20744616aaa2e0e6b_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-141</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_382"></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:8.0pt;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:avoid;text-align:justify;"><a name="XBRL_TS_71f6fb22ebeb499390dd0842b"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">31.&#160;&#160; Non-controlling interest</font></b></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:8.0pt;line-height:115%;">The table
below is a 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_71f6fb22ebeb499390dd0842b_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalance_031_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Non-controlling
  interests: breakdown by subgroups (Millions of Euros)</font></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 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=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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 style="font-size:8.0pt;">Garanti BBVA</font></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:8.0pt;">4,240</font></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:8.0pt;">4,058</font></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:8.0pt;">4,903</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">BBVA Peru</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,334</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,167</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,059</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 style="font-size:8.0pt;">BBVA Argentina</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">422</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">352</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">420</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">BBVA Colombia</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">76</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">67</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">65</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">BBVA Venezuela</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">71</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">67</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">78</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other entities</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">57</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">53</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">454</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=55% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">6,201</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">5,764</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">6,979</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;"><a name="XBRL_TS_bd041ee4cb924542baf80b873"></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%;">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_bd041ee4cb924542baf80b873_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalance_031.1_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Profit
  attributable to non-controlling interests (Millions of Euros)</font></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 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=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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 style="font-size:8.0pt;">Garanti BBVA</font></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:8.0pt;">524</font></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:8.0pt;">585</font></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:8.0pt;">883</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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 style="font-size:8.0pt;">BBVA Peru</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">236</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">227</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">208</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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 style="font-size:8.0pt;">BBVA Argentina</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">60</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(18)</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">93</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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 style="font-size:8.0pt;">BBVA Colombia</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">11</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">9</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">7</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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 style="font-size:8.0pt;">BBVA Venezuela</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1)</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(5)</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other entities</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">30</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">55</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=55% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">833</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">827</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">1,243</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_TS_097e1c4ee6c44cb9b0d0f8bd1"></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%;">Dividends
distributed to non-controlling interest of the Group during the year 2019 are:
BBVA Peru Group &#8364;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">115 </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">million, BBVA Argentina Group &#8364;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">16 </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">million, BBVA Colombia Group
&#8364;3 million and other Group entities accounted for &#8364;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">8 </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">million.</font></font><a name="XBRL_TS_097e1c4ee6c44cb9b0d0f8bd1_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;text-indent:0cm;"><a name="XBRL_TS_17b74a5081d7439694c3a6022"></a><a name="_Toc457490039"></a><a name="_Toc474142299"></a><a name="_Toc481589094"></a><a name="_Toc495478146"></a><a name="_Toc505355965"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">32.&#160;&#160; Capital base and capital management</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;"><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;line-height:115%;">32.1&#160;&#160; Capital
base</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:8.0pt;line-height:115%;">As of December 31, 2019, 2018 and
2017, equity is calculated in accordance to the applicable regulation of each
year 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:8.0pt;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:8.0pt;line-height:115%;">With regard to BBVA, after the
supervisory review and evaluation process (&#8220;SREP&#8221;) carried out by the ECB, the
Group has received the communication to maintain, from January 1, 2020 on a
consolidated basis, a CET1 capital ratio of 9.27% and a total capital ratio of
12.77%.</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:8.0pt;line-height:115%;">This total capital requirement at
consolidated level includes: i) a Pillar 1 requirement of 8% that should be
fulfilled by a minimum of 4.5% of CET1; ii) a Pillar 2 requirement of 1.5% of CET1
that remains at the same level as the one included in the previous SREP
decision; iii) a Capital Conservation buffer of 2.5% of CET1; iv) the Other
Systemic Important Institution buffer (OSII) of 0.75% of CET1; and v) the
Countercyclical Capital buffer 0.02% of CET1.</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:8.0pt;line-height:115%;">The ECB Pillar 2 requirement remains at the same level as the one
established in the last SREP decision, being the sole difference the evolution
of the Countercyclical Capital buffer of 0.01% approximately.</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-142</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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: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:8.0pt;line-height:115%;">A reconciliation of the main
figures between the accounting and regulatory own funds as of December 31,
2019, 2018 and 2017 is shown below:</font></font><a name="XBRL_TS_17b74a5081d7439694c3a6022_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_32_006_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Eligible
  capital resources (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:16.9pt;">
  <td width=57% 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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=57% 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:8.0pt;">Capital</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;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 style="font-size:8.0pt;">26</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:8.0pt;">3,267</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:8.0pt;">3,267</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:8.0pt;">3,267</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=57% 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:8.0pt;">Share premium</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">27</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 style="font-size:8.0pt;">23,992</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 style="font-size:8.0pt;">23,992</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 style="font-size:8.0pt;">23,992</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=57% 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=EN-US style="font-size:8.0pt;">Retained
  earnings, revaluation reserves and other reserves</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">28</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 style="font-size:8.0pt;">26,277</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 style="font-size:8.0pt;">23,021</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 style="font-size:8.0pt;">23,724</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=57% 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:8.0pt;">Other equity
  instruments, net</font></font></p>
  </td>
 <td nowrap width=10% style="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 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: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 style="font-size:8.0pt;">56</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 style="font-size:8.0pt;">50</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 style="font-size:8.0pt;">54</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=57% 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:8.0pt;">Treasury shares</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">29</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 style="font-size:8.0pt;">(62)</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 style="font-size:8.0pt;">(296)</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 style="font-size:8.0pt;">(96)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=57% 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=EN-US style="font-size:8.0pt;">Attributable to
  the parent company</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">6</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 style="font-size:8.0pt;">3,512</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 style="font-size:8.0pt;">5,400</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 style="font-size:8.0pt;">3,514</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=57% 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 style="font-size:8.0pt;">Attributable dividend</font></font></p>
  </td>
 <td nowrap width=10% 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 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: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 style="font-size:8.0pt;">(1,084)</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 style="font-size:8.0pt;">(1,109)</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 style="font-size:8.0pt;">(1,172)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=57% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">Total equity</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=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:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">55,958</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">54,326</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">53,283</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=57% 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:8.0pt;">Accumulated other
  comprehensive income</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;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 style="font-size:8.0pt;">30</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:8.0pt;">(7,235)</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:8.0pt;">(7,215)</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:8.0pt;">(6,939)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=57% 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 style="font-size:8.0pt;">Non-controlling
  interest</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">31</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 style="font-size:8.0pt;">6,201</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 style="font-size:8.0pt;">5,764</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 style="font-size:8.0pt;">6,979</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=57% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">Shareholders' equity</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=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:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">54,925</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">52,874</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">53,323</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=57% 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=EN-US style="font-size:8.0pt;">Goodwill and
  other intangible assets</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:8.0pt;">(6,803)</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:8.0pt;">(8,199)</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:8.0pt;">(6,627)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=57% 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=EN-US style="font-size:8.0pt;">Direct and
  synthetic treasury shares</font></font></p>
  </td>
 <td nowrap width=10% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">(422)</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 style="font-size:8.0pt;">(135)</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 style="font-size:8.0pt;">(182)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=57% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">Deductions</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=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:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(7,225)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(8,334)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(6,809)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=57% 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:8.0pt;">Temporary CET 1
  adjustments</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;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 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: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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=11% 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 style="font-size:8.0pt;">(273)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=57% 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;"><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Capital gains
  from the Available-for-sale debt instruments portfolio</font></i></font></p>
  </td>
 <td nowrap width=10% style="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 face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(256)</font></i></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=57% 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;"><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Capital gains
  from the Available-for-sale equity portfolio</font></i></font></p>
  </td>
 <td nowrap width=10% style="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 face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></i></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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(17)</font></i></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=57% 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=EN-US style="font-size:8.0pt;">Differences
  from solvency and accounting level</font></font></p>
  </td>
 <td nowrap width=10% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">(215)</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 style="font-size:8.0pt;">(176)</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 style="font-size:8.0pt;">(189)</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=57% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Equity not
  eligible at solvency level</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(215)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(176)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(462)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=57% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">Other adjustments and
  deductions (1)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=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:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(3,832)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(4,049)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(3,711)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=57% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">Common Equity Tier 1
  (CET 1)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=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:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">43,653</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">40,313</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">42,341</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=57% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Additional Tier
  1 before Regulatory Adjustments</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">6,048</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">5,634</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">6,296</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=57% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Total
  Regulatory Adjustments of Additional Tier 1</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">(1,657)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=57% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">Tier 1</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=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:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">49,701</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">45,947</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">46,980</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=57% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">Tier 2</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=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:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">8,304</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">8,756</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">8,798</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=57% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">Total Capital (Total
  Capital=Tier 1 + Tier 2)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=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:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">58,005</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">54,703</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">55,778</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap valign=bottom width=57% style="border:none;border-bottom:solid black 1.0pt;height:9.75pt;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=10% 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 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: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=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">-</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=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">-</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=#094FA4 face=Arial,sans-serif style="border:none;"><font color=#094FA4 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=57% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">Total Minimum equity
  required</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=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:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">46,540</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">41,576</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">40,370</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_ab9248df5e644d57b120c1ca3"></a><a name="XBRL_FS_d11282f200594e2eb3d3d3772"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(1) Other adjustments and
deductions includes the amount of minority interest not eligible as capital,
amount of dividends not distributed and other deductions and filters set by the
CRR.</font></font><a name="XBRL_FS_d11282f200594e2eb3d3d3772_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-143</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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>
<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:8.0pt;line-height:115%;">The Group&#8217;s
bank capital in accordance with the aforementioned applicable regulation as of
December 31, 2019, 2018 and 2017 is shown below:</font></font><a name="XBRL_TS_ab9248df5e644d57b120c1ca3_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_32_010_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:9.0pt;">
  <td colspan=4 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Amount of
  capital CC1 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap valign=bottom width=52% 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=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=16% 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=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=16% 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=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=16% 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=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=52% style="border:none;border-bottom:solid black 1.0pt;height:9.0pt;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=EN-US style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2019</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2018</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=52% 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:7.0pt;">Capital and share
  premium </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 style="font-size:7.0pt;">27,259</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 style="font-size:7.0pt;">27,259</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 style="font-size:7.0pt;">27,259</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=52% 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=EN-US style="font-size:7.0pt;">Retained
  earnings and equity instruments</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">26,960</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">23,773</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">23,791</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=52% 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=EN-US style="font-size:7.0pt;">Other
  accumulated income and other reserves</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">(7,157)</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">(7,143)</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">(6,863)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=52% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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</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 style="font-size:7.0pt;">4,404</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 style="font-size:7.0pt;">3,809</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 style="font-size:7.0pt;">5,446</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=52% 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;">Net interim
  attributable profit</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 style="font-size:7.0pt;">1,316</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 style="font-size:7.0pt;">3,188</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 style="font-size:7.0pt;">1,302</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Ordinary Tier
  1 (CET 1) before other reglamentary adjustments</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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:7.0pt;">52,783</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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:7.0pt;">50,887</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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:7.0pt;">50,935</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=52% 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;">Goodwill and
  intangible assets</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 style="font-size:7.0pt;">(6,803)</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 style="font-size:7.0pt;">(8,199)</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 style="font-size:7.0pt;">(6,627)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=52% 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=EN-US style="font-size:7.0pt;">Direct and
  indirect holdings in equity</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(484)</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(432)</font></font></p>
  </td>
 <td nowrap width=16% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(278)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=52% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">Deferred tax assets </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 style="font-size:7.0pt;">(1,420)</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 style="font-size:7.0pt;">(1,260)</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 style="font-size:7.0pt;">(755)</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=52% 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 style="font-size:7.0pt;">Other deductions and
  filters</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">(423)</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">(682)</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">(933)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Total common
  equity Tier 1 reglamentary adjustments</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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:7.0pt;">(9,130)</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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:7.0pt;">(10,573)</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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:7.0pt;">(8,594)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Common equity TIER
  1 (CET1)</font></b></font></p>
  </td>
 <td nowrap width=16% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">43,653</font></b></font></p>
  </td>
 <td nowrap width=16% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">40,313</font></b></font></p>
  </td>
 <td nowrap width=16% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">42,341</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=52% 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=EN-US style="font-size:7.0pt;">Equity
  instruments and share premium classified as liabilities</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">5,400</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">5,005</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">5,893</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=52% 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=EN-US style="font-size:7.0pt;">Qualifying Tier
  1 capital included in consolidated AT1 capital issued by subsidiaries and
  held by third parties</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">648</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">629</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">403</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Additional
  Tier 1 (CET 1) before regulatory adjustments</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">6,048</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">5,634</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">6,296</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap width=52% 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 style="font-size:7.0pt;">Temporary CET 1
  adjustments</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">(1,657)</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 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=EN-US style="font-size:7.0pt;">Total
  regulatory adjustments of additional equity l Tier 1</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">-</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">-</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">(1,657)</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Additional equity
  Tier 1&#160; (AT1) </font></b></font></p>
  </td>
 <td nowrap width=16% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">6,048</font></b></font></p>
  </td>
 <td nowrap width=16% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">5,634</font></b></font></p>
  </td>
 <td nowrap width=16% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">4,639</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=52% style="background:#5AC4C4;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=EN-US style="font-size:7.0pt;">Tier 1 (Common
  equity TIER 1+ additional TIER 1)</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;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 style="font-size:7.0pt;">49,701</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;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 style="font-size:7.0pt;">45,947</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;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 style="font-size:7.0pt;">46,980</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=52% 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=EN-US style="font-size:7.0pt;">Equity
  instruments and share premium accounted as Tier 2</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">3,064</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">3,768</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">1,759</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=52% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">Eligible equity
  instruments </font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,690</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,409</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">6,438</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=52% 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;">Credit risk
  adjustments</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 style="font-size:7.0pt;">550</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 style="font-size:7.0pt;">579</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 style="font-size:7.0pt;">601</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Tier 2 before
  regulatory adjustments</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">8,304</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">8,756</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">8,798</font></b></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 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;">Tier 2 reglamentary
  adjustments </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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">-</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">-</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=52% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Tier 2</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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:7.0pt;">8,304</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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:7.0pt;">8,756</font></b></font></p>
  </td>
 <td nowrap width=16% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;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:7.0pt;">8,798</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=52% style="background:#5AC4C4;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 capital (Total
  capital=Tier 1 + Tier 2)</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;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 style="font-size:7.0pt;">58,005</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;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 style="font-size:7.0pt;">54,703</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;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 style="font-size:7.0pt;">55,778</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=52% style="background:#5AC4C4;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 RWA's</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;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 style="font-size:7.0pt;">364,448</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;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 style="font-size:7.0pt;">348,264</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;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 style="font-size:7.0pt;">362,875</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=52% 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;">CET 1 (phased-in)</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">12.0%</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">11.6%</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:7.0pt;">11.7%</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=52% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">Tier 1 (phased-in)</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">13.6%</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">13.2%</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">12.9%</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td nowrap width=52% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">Total capital
  (phased-in)</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">15.9%</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">15.7%</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">15.4%</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:6.0pt;text-align:justify;"><a name="XBRL_TS_6125b68225a84422a9044d1af"></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-144</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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>
<p style="border:none;margin:0cm;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:8.0pt;line-height:115%;">As of December 2019 Common
Equity Tier 1 (CET1) phased-in ratio(1) stood at 11.98%, including the impact
of IFRS 16 standard&#8217;s implementation that entered into force on January 1, 2019
(-11 basis points). Compared to December 2018, the ratio increased by +40 basis
points supported by the profit generation, net of dividend payments and
remuneration of contingent convertible capital instruments (CoCos),
notwithstanding the moderate growth of risk-weighted 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:8.0pt;line-height:115%;">In addition, the impairment of the
goodwill in the United States CGU recognized by the Group amounting to &#8364;1,318
million has had no impact on the regulatory own funds (see Note 18.1).</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:8.0pt;line-height:115%;">Risk-weighted
assets (RWAs) increased by approximately &#8364;16,100 million in 2019 as a result of
activity growth, mainly in emerging markets, and the impact of regulatory
changes (the application of IFRS 16 and TRIM - Targeted Review of Internal
Models) for approximately &#8364;7,600 million (with an impact on the CET1 ratio of
-25 basis points. It should be noted that during the second quarter of 2019,
the recognition by the European Commission of Argentina as a country whose
supervisory and regulatory requirements(2) are considered equivalent had a
positive effect on the evolution of the RWAs.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">The Additional
tier 1 capital (AT1) phased-in ratio stood at 1.66% as of December 31, 2019. In
this regard, BBVA S.A. carried out an issue of &#8364;1,000 million CoCos, registered
at the Spanish Securities Market Commission (CNMV) and another issue of the
same type of instruments, registered in the Securities and Exchange Commission
(hereinafter, SEC) for USD 1,000 million.</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:8.0pt;">On the other hand, in February 2020
the CoCos issuance of &#8364; 1,500 million issued in February 2015 will be
amortized. As of December 31, 2019, it is no longer included in the capital
ratios.</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:8.0pt;">Finally, in terms of issues
eligible as Tier 2 capital, BBVA S.A. issued &#8364; 750 million of subordinated debt
and carried out the early redemption of two subordinated-debt issues; one for
&#8364;1,500 million redeemed in April 2019, and another issued in June 2009 by Caixa
d'Estalvis de Sabadell with an outstanding nominal amount of &#8364;4.9 million and
redeemed in June 2019.</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:8.0pt;">With regard to the subsidiaries of
the Group, BBVA Mexico carried out a Tier 2 issuance of USD 750 million and
partially repurchased two subordinated debt issuances ($250 million due in 2020
and $500 million due in 2021). Meanwhile, Garanti BBVA issued another Tier 2
issuance of TRY 253 million.</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:8.0pt;line-height:115%;">All of this, together with the evolution of the remaining elements
eligible as Tier 2 capital, set the Tier 2 phased in ratio at 2.28% as of
December 31, 2019. In addition, during the beginning of 2020, two subordinated
debts were issued, BBVA, S.A. issued &#8364;1,000 million, and Garanti BBVA issued
750 million of Turkish Liras. These issuances will be included in the capital
ratios for the first quarter of 2020 with an estimated impact of approximately
+28 basis points on the T2 capital ratio.</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:8.0pt;line-height:115%;">These levels are above the requirements established by the
supervisor in its SREP letter applicable in 2019, also above the applicable
requirements from January 1, 2020.</font></font></p>

<p style="border:none;margin-left:0cm;margin-right:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">In November 2019, BBVA received a new
communication from the Bank of Spain regarding its minimum requirement for own
funds and eligible liabilities (MREL), as determined by the Single Resolution
Board, that was calculated taking into account the financial and supervisory
information as of December 31, 2017.</font></font></p>

<p style="border:none;margin-left:0cm;margin-right:0cm;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">In accordance with such communication, BBVA has
to reach, by January 1, 2021, an amount of own funds and eligible liabilities
equal to 15.16% of the total liabilities and own funds of its resolution group,
on sub-consolidated basis (the MREL requirement). Within this MREL, an amount
equal to 8.01% of the total liabilities and own funds shall be met with
subordinated instruments (the subordination requirement), once the relevant
allowance is applied.</font></font></p>

<p style="border:none;margin-left:0cm;margin-right: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;">This MREL requirement is
equal to 28.50% in terms of risk-weighted assets (RWAs), while the subordination
requirement included in the MREL requirement is equal to 15.05% in terms of
RWAs, once the relevant allowance has been applied.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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;">In order to comply with this
requirement, BBVA has continued its issuance program during 2019 by closing
three senior non-preferred debt issuances, for a total of &#8364; 3,000 million, of
which one consists in green bonds (&#8364; 1,000 million). In addition, BBVA issued
&#8364;1,000 million of senior preferred debt.</font></font></p>

<p style="border:none;margin-left:0cm;margin-right: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;">The Group estimates that the
current own funds and eligible liabilities structure of the resolution group
meets the MREL requirement, as well as the new subordination requirement.</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:6.0pt;">(1)&#160;&#160; </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">This 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, which implementation is voluntary, which seek to phase-in the
impact of IFRS 9 on capital 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:12.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(2)&#160;&#160; </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">On April 1,
2019, the Official Journal of the European Union published Commission
Implementing Decision (EU) 2019/536, which includes Argentina within the list
of third countries and territories whose supervisory and regulatory
requirements are considered equivalent for the purposes of the treatment of
exposures in accordance with Regulation (EU) No. 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-145</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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:0cm;page-break-after:avoid;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:11.0pt;line-height:115%;">32.2&#160;&#160; Leverage ratio</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:8.0pt;line-height:115%;">The leverage ratio (LR) is a
regulatory measure complementing capital designed to guarantee the soundness
and financial strength of institutions in terms of indebtedness. This
measurement can be used to estimate the percentage of the assets and
off-balance sheet arrangements financed with Tier 1 capital,&#160; the carrying
amount of the assets used in this ratio is adjusted to reflect the bank&#8217;s
current or potential leverage with a given balance-sheet position (Leverage
ratio exposure).</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:8.0pt;line-height:115%;">Breakdown of
capital base as of December 31, 2019, 2018 and 2017, calculated according to
CCR, is as follows:</font></font><a name="XBRL_TS_6125b68225a84422a9044d1af_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_32_007_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=5 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">Capital Base </font></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=#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=13% 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=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=47% 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=EN-US style="font-size:8.0pt;">Tier 1
  (millions of euros) (a)</font></font></p>
  </td>
 <td nowrap width=13% 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=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">49,701</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">45,947</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">46,980</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Exposure
  (millions of euros) (b)</font></font></p>
  </td>
 <td nowrap width=13% 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=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">731,087</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">705,299</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">709,758</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=47% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Leverage ratio
  (a)/(b) (percentage)</font></font></p>
  </td>
 <td nowrap width=13% 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=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">6.80%</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6.51%</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6.62%</font></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;"><a name="XBRL_TS_8c7b9eddcb8c477184ae1d9bc"></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:11.0pt;line-height:115%;">32.3&#160;&#160; Capital management</font></b></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:8.0pt;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:35.7pt;margin-right:0cm;margin-top:4.0pt;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:8.0pt;">&#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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">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:35.7pt;margin-right:0cm;margin-top:4.0pt;text-align:justify;text-indent:-17.85pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:8.0pt;">&#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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">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 subordinated 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:8.0pt;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:8.0pt;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_8c7b9eddcb8c477184ae1d9bc_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_7eaec4b356fd45c2a1ed4c491"></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-146</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</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>
<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:11.0pt;">33.&#160;&#160;
Commitments and guarantees given</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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_7eaec4b356fd45c2a1ed4c491_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_33_FINREP9_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Commitments
  and guarantees given (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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Loan commitments
  given</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=right style="border:none;margin:0cm;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;">7.1.2</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">130,923</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">118,959</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">94,268</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=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:8.0pt;">Of which: defaulted</font></i></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:10.5pt;padding:0cm 18.0pt 0cm 0cm;">
  <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 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=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:8.0pt;">270</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=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:8.0pt;">247</font></i></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=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:8.0pt;">537</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% 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;">Central banks</font></font></p>
  </td>
 <td nowrap width=12% style="height:10.5pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=10% 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 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 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=12% style="height:10.5pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif 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 style="font-size:8.0pt;">3,117</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 style="font-size:8.0pt;">2,318</font></i></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">2,198</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% 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;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=12% style="height:10.5pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif 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 style="font-size:8.0pt;">11,742</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 style="font-size:8.0pt;">9,635</font></i></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">946</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% 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;">Other financial
  corporations </font></font></p>
  </td>
 <td nowrap width=12% style="height:10.5pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif 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 style="font-size:8.0pt;">4,578</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 style="font-size:8.0pt;">5,664</font></i></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">3,795</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% 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;">Non-financial
  corporations </font></font></p>
  </td>
 <td nowrap width=12% style="height:10.5pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif 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 style="font-size:8.0pt;">65,475</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 style="font-size:8.0pt;">58,405</font></i></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">58,133</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 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Households </font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif 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 style="font-size:8.0pt;">46,011</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 style="font-size:8.0pt;">42,936</font></i></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">29,195</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Financial
  guarantees given (*) </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=right style="border:none;margin:0cm;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;">7.1.2</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">10,984</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">16,454</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">16,545</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=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:8.0pt;">Of which: defaulted</font></i></font></p>
  </td>
 <td nowrap width=12% 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=#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;height:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:8.0pt;">224</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=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:8.0pt;">332</font></i></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=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif 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 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Central banks</font></font></p>
  </td>
 <td nowrap width=12% 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=#787878 face=Arial,sans-serif style="border:none;"><font color=#787878 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="height:10.5pt;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;"><i><font color=black face=Arial,sans-serif 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 style="font-size:8.0pt;">2</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:10.5pt;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;"><i><font color=black face=Arial,sans-serif 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 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">General governments</font></font></p>
  </td>
 <td nowrap width=12% 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=#787878 face=Arial,sans-serif style="border:none;"><font color=#787878 face=Arial,sans-serif style="font-size:8.0pt;">&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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">125</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 style="font-size:8.0pt;">159</font></i></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">248</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% 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;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=12% 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=#787878 face=Arial,sans-serif style="border:none;"><font color=#787878 face=Arial,sans-serif style="font-size:8.0pt;">&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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">995</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 style="font-size:8.0pt;">1,274</font></i></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">1,158</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% 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;">Other financial
  corporations </font></font></p>
  </td>
 <td nowrap width=12% 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=#787878 face=Arial,sans-serif style="border:none;"><font color=#787878 face=Arial,sans-serif style="font-size:8.0pt;">&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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">583</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 style="font-size:8.0pt;">730</font></i></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">3,105</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% 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;">Non-financial
  corporations</font></font></p>
  </td>
 <td nowrap width=12% 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=#787878 face=Arial,sans-serif style="border:none;"><font color=#787878 face=Arial,sans-serif style="font-size:8.0pt;">&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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">8,986</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 style="font-size:8.0pt;">13,970</font></i></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">11,518</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 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Households </font></font></p>
  </td>
 <td nowrap width=12% 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=#787878 face=Arial,sans-serif style="border:none;"><font color=#787878 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:10.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">295</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 style="font-size:8.0pt;">319</font></i></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">516</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Other commitments
  given </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=right style="border:none;margin:0cm;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;">7.1.2</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">39,209</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">35,098</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">45,738</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=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:8.0pt;">Of which: defaulted</font></i></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:10.5pt;padding:0cm 18.0pt 0cm 0cm;">
  <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 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=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:8.0pt;">506</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=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:8.0pt;">408</font></i></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=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif style="font-size:8.0pt;">461</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% 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;">Central banks</font></font></p>
  </td>
 <td nowrap width=12% style="height:10.5pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif 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 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 style="font-size:8.0pt;">1</font></i></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">7</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% 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;">General governments</font></font></p>
  </td>
 <td nowrap width=12% style="height:10.5pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif 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 style="font-size:8.0pt;">521</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 style="font-size:8.0pt;">248</font></i></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">227</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% 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;">Credit institutions</font></font></p>
  </td>
 <td nowrap width=12% style="height:10.5pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif 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 style="font-size:8.0pt;">5,952</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 style="font-size:8.0pt;">5,875</font></i></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">15,330</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% 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;">Other financial
  corporations</font></font></p>
  </td>
 <td nowrap width=12% style="height:10.5pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif 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 style="font-size:8.0pt;">2,902</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 style="font-size:8.0pt;">2,990</font></i></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">3,820</font></i></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td width=56% 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;">Non-financial
  corporations</font></font></p>
  </td>
 <td nowrap width=12% style="height:10.5pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif 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 style="font-size:8.0pt;">29,682</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 style="font-size:8.0pt;">25,723</font></i></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">25,992</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 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Households </font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;height:10.5pt;padding:0cm 18.0pt 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#787878 face=Arial,sans-serif style="border:none;"><i><font color=#787878 face=Arial,sans-serif 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 style="font-size:8.0pt;">151</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 style="font-size:8.0pt;">261</font></i></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">362</font></i></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=56% style="background:#5AC4C4;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=EN-US style="font-size:8.0pt;">Total
  commitments and guarantees given</font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">7.1.2</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">181,116</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">170,511</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">156,551</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:49.65pt;margin-right:33.75pt;margin-top:0cm;text-align:justify;text-indent:-14.2pt;"><a name="XBRL_TS_c51a79a13e404c31b3be7c044"></a><a name="XBRL_FS_2f6b7d56b2f74334b990b247f"></a><sup><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*)</font></font></sup><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&#160;
Non-performing financial guarantees given amounted to &#8364;730, &#8364;740 and &#8364;739
million, respectively, as of December 31,&#160;&#160; 2019, 2018 and 2017.</font></font><a name="XBRL_FS_2f6b7d56b2f74334b990b247f_bclEnd"></a></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:8.0pt;line-height:115%;">As of December 31, 2019, the provisions for loan commitments
given, financial guarantees given and other commitments given, recorded in the
consolidated balance sheet amounted &#8364;341 million, &#8364;219 million and &#8364;151
million, respectively.</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:8.0pt;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 to be the actual future
requirement for financing or liquidity to be provided by the BBVA Group to
third parties.<a name="Nota_35"></a><a name="Nota_35_bclEnd"></a></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:8.0pt;line-height:115%;">In the years 2019, 2018 and 2017, 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_c51a79a13e404c31b3be7c044_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_edb6beccea1044a5b1e6437ab"></a><a name="_Toc298431736"></a><a name="_Toc299029472"></a><a name="_Toc299031554"></a><a name="_Toc299032893"></a><a name="_Toc331260334"></a><a name="_Toc347755872"></a><a name="_Toc376949993"></a><a name="_Toc457490041"></a><a name="_Toc474142303"></a><a name="_Toc481589096"></a><a name="_Toc495478148"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">34.&#160;&#160; Other contingent assets and liabilities</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:8.0pt;line-height:115%;">As of December, 2019, 2018 and 2017
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_edb6beccea1044a5b1e6437ab_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;text-indent:0cm;"><a name="XBRL_TS_81cf400636464701a4ece1002"></a><a name="_Toc457490042"></a><a name="_Toc474142304"></a><a name="_Toc481589097"></a><a name="_Toc495478149"></a><a name="_Toc505355968"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">35. Purchase and sale commitments and future
payment obligations</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The breakdown of purchase and sale commitments of the BBVA Group
as of December 31, 2019, 2018 and 2017 is as follows:</font></font><a name="XBRL_TS_81cf400636464701a4ece1002_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalance_035_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Purchase and
  sale commitments (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=59% 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 lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Notes</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=59% style="background:#5AC4C4;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=EN-US style="font-size:8.0pt;">Financial
  instruments sold with repurchase commitments</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">45,956</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">42,993</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">40,077</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=59% 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=EN-US style="font-size:8.0pt;">Financial
  liabilities held for trading</font></font></p>
  </td>
 <td nowrap width=11% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">41,902</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 style="font-size:8.0pt;">36,815</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=59% 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 style="font-size:8.0pt;">Central banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">10</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">7,635</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">10,511</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=59% 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 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 style="font-size:8.0pt;">10</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">24,578</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">14,839</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=59% 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 style="font-size:8.0pt;">Customer deposits</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">10</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">9,689</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">11,466</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Financial
  liabilities at amortized cost</font></font></p>
  </td>
 <td nowrap width=11% style="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=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">4,054</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 style="font-size:8.0pt;">6,178</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 style="font-size:8.0pt;">40,077</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=59% 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 style="font-size:8.0pt;">Central banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">22</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">826</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">375</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">6,155</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=59% 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 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 style="font-size:8.0pt;">22</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">2,693</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">4,593</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">24,843</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=59% 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 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 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">22</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">535</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">1,209</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">9,079</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=59% style="background:#5AC4C4;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=EN-US style="font-size:8.0pt;">Financial
  instruments purchased with resale commitments</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">35,784</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">28,034</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">26,368</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=59% 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=EN-US 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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">33,941</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 style="font-size:8.0pt;">27,262</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=59% 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 style="font-size:8.0pt;">Central banks</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">10</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">535</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">2,163</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=59% 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 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 style="font-size:8.0pt;">10</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">21,219</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">13,305</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=59% 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=EN-US style="font-size:8.0pt;">Loans and
  advances to customers</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">10</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">12,187</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">11,794</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Financial
  assets at amortized cost </font></font></p>
  </td>
 <td nowrap width=11% style="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=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">1,843</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 style="font-size:8.0pt;">772</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 style="font-size:8.0pt;">26,368</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=59% 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 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=right style="border:none;margin: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=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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">305</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=59% 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 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 style="font-size:8.0pt;">14</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">1,817</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">13,861</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=59% 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=EN-US style="font-size:8.0pt;">Loans and
  advances to customers</font></font></p>
  </td>
 <td nowrap width=11% 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=EN-US style="font-size:8.0pt;">&nbsp;</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">26</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">294</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">12,202</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-147</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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>
<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_b66df4cec3974d00b371d21bc"></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%;">A breakdown
of the maturity of other payment obligations, not included in previous notes,
due after December 31, 2019 is provided below:</font></font><a name="XBRL_TS_b66df4cec3974d00b371d21bc_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_35_VENCIMIENTOS_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Maturity of
  future payment obligations (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=28% 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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Up to 1 year</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">1 to 3 years</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">3 to 5 years</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Over 5 years</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=28% 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:8.0pt;">Purchase commitments</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">23</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">23</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 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;">Technology and
  systems projects</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=28% 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 style="font-size:8.0pt;">Other projects</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">19</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">19</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=28% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;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 style="font-size:8.0pt;">23</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;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 style="font-size:8.0pt;">23</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:avoid;text-align:justify;text-indent:0cm;"><a name="_Toc298431738"></a><a name="_Toc299029475"></a><a name="_Toc299031556"></a><a name="_Toc299032895"></a><a name="_Toc331260336"></a><a name="_Toc347755874"></a><a name="_Toc376949998"></a><a name="XBRL_TS_6a3dcc0cb0614c43a685a3f7f"></a><a name="_Toc457490043"></a><a name="_Toc474142305"></a><a name="_Toc481589098"></a><a name="_Toc495478150"></a><a name="_Toc505355969"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">36.&#160;&#160; Transactions on behalf of third 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: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%;">As of December 31, 2019, 2018 and 2017 the details of the relevant
transactions on behalf of third parties are as follows:</font></font><a name="XBRL_TS_6a3dcc0cb0614c43a685a3f7f_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_notasbalance_036_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Transactions
  on behalf of third parties. Breakdown by concepts (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=62% 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=#44546A face=Arial,sans-serif style="border:none;"><b><font color=#44546A face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=13% style="border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=62% 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=EN-US style="font-size:8.0pt;">Financial instruments
  entrusted to BBVA by third parties</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 style="font-size:8.0pt;">693,377</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 style="font-size:8.0pt;">628,417</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 style="font-size:8.0pt;">624,822</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=62% 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=EN-US style="font-size:8.0pt;">Conditional
  bills and other securities received for collection</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 style="font-size:8.0pt;">13,133</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 style="font-size:8.0pt;">13,484</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 style="font-size:8.0pt;">14,775</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=62% 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;">Securities lending</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 style="font-size:8.0pt;">7,129</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 style="font-size:8.0pt;">4,866</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 style="font-size:8.0pt;">5,485</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=62% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">713,639</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">646,768</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">645,081</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%;">&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-bottom:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:avoid;text-align:justify;"><a name="_Toc298431739"></a><a name="_Toc299029476"></a><a name="_Toc299031557"></a><a name="_Toc299032896"></a><a name="_Toc331260337"></a><a name="_Toc347755875"></a><a name="_Toc376949999"></a><a name="XBRL_TS_d6e65cd0bb42490797b5b7b4f"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">37.&#160;&#160; Net interest income</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;"><a name="_Toc376949995"></a><a name="_Toc376972403"></a><a name="_Toc474142307"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">37.1&#160;&#160;
Interest </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:10.0pt;">and other income</font></b></font></p>

<p style="border:none;margin:0cm;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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The breakdown of
the interest and other income recognized in the accompanying consolidated
income</font><font color=navy face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> </font><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">statement is as follows:</font></font><a name="XBRL_TS_d6e65cd0bb42490797b5b7b4f_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51_001_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Interest and
  other income. Breakdown by origin (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td nowrap width=55% 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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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=EN-US style="font-size:8.0pt;">Financial assets
  held for trading</font></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:8.0pt;">2,041</font></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:8.0pt;">2,057</font></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:8.0pt;">1,306</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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=EN-US style="font-size:8.0pt;">Financial
  assets designated at fair value through profit or loss</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">159</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">148</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">73</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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=EN-US style="font-size:8.0pt;">Financial
  assets at fair value through other comprehensive income</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,815</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,846</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,485</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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=EN-US style="font-size:8.0pt;">Financial
  assets at amortized cost</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">25,698</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">24,572</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">24,485</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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 style="font-size:8.0pt;">Insurance activity</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,079</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,141</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,058</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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=EN-US style="font-size:8.0pt;">Adjustments of
  income as a result of hedging transactions </font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(74)</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(201)</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">415</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other income</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">343</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">268</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">474</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=55% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;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 style="font-size:8.0pt;">31,061</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;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 style="font-size:8.0pt;">29,831</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;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 style="font-size:8.0pt;">29,296</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-148</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_389"></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_b7df5ae1fa3b4a3b834fe420c"></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%;">The amounts recognized in consolidated equity in connection with
hedging derivatives for the years ended December 31, 2019, 2018 and 2017 and
the amounts derecognized from the consolidated equity and taken to the
consolidated income statements during those years are included in the
accompanying &#8220;Consolidated statements of recognized income and expenses&#8221;.</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:1.0pt;">&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;"><a name="_Toc376949996"></a><a name="_Toc376972404"></a><a name="_Toc474142308"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">37.2&#160;&#160;
Interest expense</font></b></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:8.0pt;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_b7df5ae1fa3b4a3b834fe420c_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51_002_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td colspan=4 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Interest
  expense. Breakdown by origin (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td nowrap width=61% 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=EN-US style="font-size:8.0pt;">&nbsp;</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=61% 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=EN-US style="font-size:8.0pt;">Financial
  liabilities held for trading </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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,230</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,211</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">87</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Financial
  liabilities designated at fair value through 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">41</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Financial
  liabilities at amortized cost (*)</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">10,805</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">10,321</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">9,729</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Adjustments of
  expense as a result of hedging transactions</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(246)</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(352)</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">665</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Insurance activity</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">753</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">832</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">732</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Cost
  attributable to pension funds</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">86</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">73</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">79</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=61% 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;">Other 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">224</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">113</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">245</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=61% style="background:#5AC4C4;border:none;border-bottom:solid 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</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">12,859</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">12,239</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">11,537</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;"><a name="_Toc376949997"></a><a name="_Toc376972405"></a><a name="_Toc474142309"></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>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_FS_73a339acb32c4ed4b49f20df2"></a><a name="XBRL_TS_8aee9cb8e7ca47378abd72a65"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*) Includes
&#8364;114 million as of December 31, 2019 corresponding to interest expense on
leases (see Note 22.5).</font></font><a name="XBRL_FS_73a339acb32c4ed4b49f20df2_bclEnd"></a><a name="XBRL_TS_8aee9cb8e7ca47378abd72a65_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="_Toc298431740"></a><a name="_Toc299029477"></a><a name="_Toc299031558"></a><a name="_Toc299032897"></a><a name="_Toc331260338"></a><a name="_Toc347755876"></a><a name="_Toc376950000"></a><a name="XBRL_TS_6043d655639f4df380d831e45"></a><a name="_Toc457490045"></a><a name="_Toc474142310"></a><a name="_Toc481589100"></a><a name="_Toc495478152"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">38.&#160;&#160;
Dividend income</font></b></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:8.0pt;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 Note 39), as can be seen in
the breakdown below:</font></font><a name="XBRL_TS_6043d655639f4df380d831e45_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51_001.1_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Dividend
  income (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td nowrap width=69% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:23.25pt;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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap valign=bottom width=69% 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 style="font-size:8.0pt;">Dividends from:</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=69% style="height:22.5pt;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=EN-US style="font-size:8.0pt;">Non-trading
  financial assets mandatorily at fair value through profit or loss </font></font></p>
  </td>
 <td nowrap width=7% style="height:22.5pt;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=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">26</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">19</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">145</font></font></p>
  </td>
 </tr>
<tr style="height:20.25pt;">
  <td width=69% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;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=EN-US style="font-size:8.0pt;">Financial
  assets at fair value through other comprehensive income</font></font></p>
  </td>
 <td nowrap width=7% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">136</font></font></p>
  </td>
 <td nowrap width=8% 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">138</font></font></p>
  </td>
 <td nowrap width=8% 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">188</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=69% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">162</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">157</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">334</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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:1.0pt;">&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="_Toc298431741"></a><a name="_Toc299029478"></a><a name="_Toc299031559"></a><a name="_Toc299032898"></a><a name="_Toc331260339"></a><a name="_Toc347755877"></a><a name="_Toc376950001"></a><a name="XBRL_TS_bca1f346db9a43ae85d7ad063"></a><a name="_Toc457490046"></a><a name="_Toc474142311"></a><a name="_Toc481589101"></a><a name="_Toc495478153"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">39.&#160;&#160;
Share of profit or loss of entities accounted for using the equity method</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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Results from &#8220;Share of profit or loss of entities accounted for
using the equity method&#8221; resulted in a negative impact of &#8364;42 million as of
December 31, 2019, compared with the negative impact of &#8364;7 and the positive
impact of &#8364;4 million recorded as of December 31, 2018 and 2017, respectively.</font></font><a name="XBRL_TS_bca1f346db9a43ae85d7ad063_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="_Toc298431742"></a><a name="_Toc299029479"></a><a name="_Toc299031560"></a><a name="_Toc299032899"></a><a name="_Toc331260340"></a><a name="_Toc347755878"></a><a name="_Toc376950002"></a><a name="XBRL_TS_47199b34e9214421a6f9c139f"></a><a name="_Toc474142312"></a><a name="_Toc481589102"></a><a name="_Toc495478154"></a><a name="_Toc457490047"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">40.&#160;&#160;
Fee and commission 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:11.0pt;"> and expense</font></b></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:8.0pt;line-height:115%;">The
breakdown of the balance under these headings in the accompanying consolidated
income statements is as follows:</font></font><a name="XBRL_TS_47199b34e9214421a6f9c139f_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51_003_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Fee and
  commission income (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td nowrap width=55% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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 style="font-size:8.0pt;">Bills receivables</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;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 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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 style="font-size:8.0pt;">46</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Demand accounts</font></font></p>
  </td>
 <td nowrap width=12% style="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 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 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 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 style="font-size:8.0pt;">507</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Credit and
  debit cards and TPVs</font></font></p>
  </td>
 <td nowrap width=12% style="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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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 style="font-size:8.0pt;">3,083</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:8.0pt;">2,834</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Checks</font></font></p>
  </td>
 <td nowrap width=12% style="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 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 style="font-size:8.0pt;">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 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 style="font-size:8.0pt;">212</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Transfers and
  other payment orders</font></font></p>
  </td>
 <td nowrap width=12% style="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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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 style="font-size:8.0pt;">735</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">689</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">648</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Insurance product
  commissions</font></font></p>
  </td>
 <td nowrap width=12% style="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 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 style="font-size:8.0pt;">172</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">178</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">200</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Loan commitments
  given</font></font></p>
  </td>
 <td nowrap width=12% style="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 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 style="font-size:8.0pt;">222</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:8.0pt;">231</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Other
  commitments and financial guarantees given</font></font></p>
  </td>
 <td nowrap width=12% style="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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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 style="font-size:8.0pt;">392</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:8.0pt;">396</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Asset management</font></font></p>
  </td>
 <td nowrap width=12% style="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 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 style="font-size:8.0pt;">1,066</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:8.0pt;">923</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Securities fees</font></font></p>
  </td>
 <td nowrap width=12% style="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 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 style="font-size:8.0pt;">319</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:8.0pt;">385</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Custody securities</font></font></p>
  </td>
 <td nowrap width=12% style="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 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 style="font-size:8.0pt;">123</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:8.0pt;">122</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other fees and
  commissions</font></font></p>
  </td>
 <td nowrap width=12% 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 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:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">642</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 style="font-size:8.0pt;">598</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 style="font-size:8.0pt;">645</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=55% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">7,522</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">7,132</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">7,150</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-149</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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>
<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;"><a name="_Toc298431743"></a><a name="_Toc299029480"></a><a name="_Toc299031561"></a><a name="_Toc299032900"></a><a name="_Toc331260341"></a><a name="_Toc347755879"></a><a name="_Toc376950003"></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:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_3be87ef6652e48b1868ef7d6b"></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%;">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_3be87ef6652e48b1868ef7d6b_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51_004_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Fee and
  commission expense (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td nowrap width=53% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</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;">Demand accounts</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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">36</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 style="font-size:8.0pt;">39</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 style="font-size:8.0pt;">45</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 style="font-size:8.0pt;">Credit and debit
  cards</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 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 style="font-size:8.0pt;">1,662</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 style="font-size:8.0pt;">1,502</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 style="font-size:8.0pt;">1,458</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=EN-US style="font-size:8.0pt;">Transfers and
  other payment orders</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=EN-US 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 style="font-size:8.0pt;">150</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 style="font-size:8.0pt;">96</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 style="font-size:8.0pt;">123</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 style="font-size:8.0pt;">Commissions for
  selling insurance</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 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 style="font-size:8.0pt;">54</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 style="font-size:8.0pt;">48</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 style="font-size:8.0pt;">60</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 style="font-size:8.0pt;">Custody securities</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 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 style="font-size:8.0pt;">30</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 style="font-size:8.0pt;">29</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 style="font-size:8.0pt;">38</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 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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin: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=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 style="font-size:8.0pt;">557</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 style="font-size:8.0pt;">539</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 style="font-size:8.0pt;">506</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=53% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">2,489</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">2,253</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">2,229</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:avoid;text-align:justify;"><a name="XBRL_TS_e3ff3bfd24f64ddab6690a920"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">41. Gains (losses) on
financial assets and liabilities</font></b></font><a name="_46_OTROS_PRODUCTOS_Y_OTRAS_CARGA"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">, hedge accounting and
exchange differences, net</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top: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:8.0pt;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_e3ff3bfd24f64ddab6690a920_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51_005_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:23.25pt;">
  <td colspan=5 width=100% style="background:#E9E9E9;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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Gains
  (losses) on financial assets and liabilities, hedge accounting and exchange
  differences, net. </font></font><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">Breakdown by heading (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:28.5pt;">
  <td width=61% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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:28.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:20.45pt;">
  <td width=61% 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 lang=EN-US style="font-size:8.0pt;">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=9% style="border:none;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=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">239</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 style="font-size:8.0pt;">216</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 style="font-size:8.0pt;">985</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=61% 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=EN-US style="font-size:8.0pt;">Financial
  assets at amortized cost</font></font></p>
  </td>
 <td nowrap width=9% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">65</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">51</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">133</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=61% 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=EN-US style="font-size:8.0pt;">Other
  financial assets and liabilities </font></font></p>
  </td>
 <td nowrap width=9% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">173</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">164</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">852</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Gains (losses)
  on financial assets and liabilities held for trading, net</font></font></p>
  </td>
 <td nowrap width=9% 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=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">451</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 style="font-size:8.0pt;">707</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 style="font-size:8.0pt;">218</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=61% style="height:22.5pt;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=EN-US style="font-size:8.0pt;">Reclassification
  of financial assets from fair value through other comprehensive income</font></font></p>
  </td>
 <td nowrap width=9% style="height:22.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="background:silver;height:22.5pt;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>
 </tr>
<tr style="height:14.25pt;">
  <td width=61% 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=EN-US style="font-size:8.0pt;">Reclassification
  of financial assets from amortized cost</font></font></p>
  </td>
 <td nowrap width=9% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="background:silver;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>
 </tr>
<tr style="height:12.0pt;">
  <td width=61% 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;">Other gains
  (losses)</font></font></p>
  </td>
 <td nowrap width=9% 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=#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=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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">451</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">707</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=61% 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=EN-US 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=9% style="height:22.5pt;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=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">143</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">96</font></font></p>
  </td>
 <td nowrap width=10% style="background:silver;height:22.5pt;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>
 </tr>
<tr style="height:22.5pt;">
  <td width=61% style="height:22.5pt;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=EN-US style="font-size:8.0pt;">Reclassification
  of financial assets from fair value through other comprehensive income</font></font></p>
  </td>
 <td nowrap width=9% style="height:22.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="background:silver;height:22.5pt;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>
 </tr>
<tr style="height:14.25pt;">
  <td width=61% 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=EN-US style="font-size:8.0pt;">Reclassification
  of financial assets from amortized cost</font></font></p>
  </td>
 <td nowrap width=9% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=10% style="background:silver;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>
 </tr>
<tr style="height:12.0pt;">
  <td width=61% 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;">Other gains
  (losses)</font></font></p>
  </td>
 <td nowrap width=9% 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=#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=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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">143</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">96</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:20.45pt;">
  <td width=61% 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=EN-US style="font-size:8.0pt;">Gains (losses) on
  financial assets and liabilities designated at fair value through profit or
  loss, net</font></font></p>
  </td>
 <td nowrap width=9% 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=EN-US 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 style="font-size:8.0pt;">(94)</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 style="font-size:8.0pt;">143</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 style="font-size:8.0pt;">(56)</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=61% 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=EN-US style="font-size:8.0pt;">Gains (losses)
  from hedge accounting, net </font></font></p>
  </td>
 <td nowrap width=9% 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;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.6pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">59</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 style="font-size:8.0pt;">72</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 style="font-size:8.0pt;">(209)</font></font></p>
  </td>
 </tr>
<tr style="height:12.6pt;">
  <td width=61% style="background:#5AC4C4;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=EN-US style="font-size:8.0pt;">Subtotal gains
  (losses) on financial assets and liabilities</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">798</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">1,234</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">938</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=61% 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;">Exchange differences</font></font></p>
  </td>
 <td nowrap width=9% 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 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=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 style="font-size:8.0pt;">586</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">(9)</font></font></p>
  </td>
 <td nowrap 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 style="font-size:8.0pt;">1,030</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=61% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,383</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,223</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,968</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-150</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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">

<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;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_378795cb97d040c39011ea537"></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%;">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_378795cb97d040c39011ea537_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51_006_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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 nowrap 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 style="font-size:8.0pt;">Debt instruments</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 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 style="font-size:8.0pt;">972</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 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 style="font-size:8.0pt;">545</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Equity instruments</font></font></p>
  </td>
 <td nowrap 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 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 style="font-size:8.0pt;">1,337</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(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 style="font-size:8.0pt;">845</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Trading
  derivatives and hedge accounting</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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 style="font-size:8.0pt;">(1,098)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:8.0pt;">(470)</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Loans and
  advances to customers</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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 style="font-size:8.0pt;">103</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(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 style="font-size:8.0pt;">97</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Customer deposits</font></font></p>
  </td>
 <td nowrap 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 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 style="font-size:8.0pt;">(26)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:8.0pt;">(96)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 style="font-size:8.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin: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="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(490)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">138</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">18</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=57% style="background:#5AC4C4;border:none;border-bottom:solid 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</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">798</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,234</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">938</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;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_6aa71abb4b3542c3b1aa18ead"></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%;">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_6aa71abb4b3542c3b1aa18ead_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51_007_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Derivatives -
  Hedge accounting (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:24.95pt;">
  <td nowrap width=54% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% style="border:none;border-bottom:solid black 1.0pt;height:24.95pt;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 style="font-size:8.0pt;">2019</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 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 style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Derivatives</font></b></font></p>
  </td>
 <td width=12% 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=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=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif 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=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif 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=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif style="font-size:8.0pt;">-</font></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 style="font-size:8.0pt;">Interest rate
  agreements</font></font></p>
  </td>
 <td width=12% style="border:none;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=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=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 style="font-size:8.0pt;">(64)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:8.0pt;">165</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 style="font-size:8.0pt;">Securities agreements</font></font></p>
  </td>
 <td width=12% style="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=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=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 style="font-size:8.0pt;">(1,079)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:8.0pt;">(139)</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 style="font-size:8.0pt;">Commodity agreements</font></font></p>
  </td>
 <td width=12% style="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=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=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 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 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 style="font-size:8.0pt;">99</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 style="font-size:8.0pt;">Credit derivative
  agreements</font></font></p>
  </td>
 <td width=12% style="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=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=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 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 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 style="font-size:8.0pt;">(564)</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 style="font-size:8.0pt;">Foreign-exchange
  agreements</font></font></p>
  </td>
 <td width=12% style="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=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=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 style="font-size:8.0pt;">(60)</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:8.0pt;">315</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other agreements</font></font></p>
  </td>
 <td nowrap width=12% 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=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=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 style="font-size:8.0pt;">(35)</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 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 style="font-size:8.0pt;">(137)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=54% style="background:#5AC4C4;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;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">(1,158)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">856</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">(261)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=54% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Hedging derivatives
  ineffectiveness</font></b></font></p>
  </td>
 <td width=12% 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=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=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif 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=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif 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=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=54% 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;">Fair value hedges</font></font></p>
  </td>
 <td width=12% style="border:none;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 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=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 style="font-size:8.0pt;">59</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:8.0pt;">(177)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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 style="font-size:8.0pt;">Hedging derivative</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(236)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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 style="font-size:8.0pt;">Hedged item</font></font></p>
  </td>
 <td nowrap width=12% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><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=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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">45</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;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;"><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">59</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="border:none;margin:0cm;margin-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 flow hedges</font></font></p>
  </td>
 <td nowrap width=12% style="border:none;border-bottom:solid black 1.0pt;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 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=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 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 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 style="font-size:8.0pt;">(32)</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=54% style="background:#5AC4C4;border:none;border-bottom:solid 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</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">59</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">72</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">(209)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=54% style="background:#5AC4C4;border:none;border-bottom:solid 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</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">(1,098)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">927</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">(470)</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_TS_83c0ead7dfd04bdb8e15aa295"></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%;">In addition,
in the years ended December 31, 2019, 2018 and 2017, under the heading
&#8220;Exchange differences, net&#8221; in the accompanying consolidated income statements
amounts of negative &#8364;225 million, positive &#8364;113 million and positive &#8364;235
million, respectively, were recognized for transactions with foreign exchange
trading derivatives.</font></font><a name="XBRL_TS_83c0ead7dfd04bdb8e15aa295_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:avoid;text-align:justify;"><a name="_Toc298431745"></a><a name="_Toc299029483"></a><a name="_Toc299031563"></a><a name="_Toc299032902"></a><a name="_Toc331260343"></a><a name="_Toc347755881"></a><a name="_Toc376950008"></a><a name="XBRL_TS_b3b0a05dead842f18db218732"></a><a name="_Toc457490050"></a><a name="_Toc474142314"></a><a name="_Toc481589104"></a><a name="_Toc495478156"></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-151</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_392"></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:11.0pt;">42.&#160;&#160; Other operating income and expense</font></b></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:8.0pt;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="XBRL_TS_b3b0a05dead842f18db218732_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51_008_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Other
  operating income (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td nowrap width=54% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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 align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</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 align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=54% 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=EN-US style="font-size:8.0pt;">Gains from
  sales of non-financial services</font></font></p>
  </td>
 <td width=12% style="border:none;height:14.25pt;padding:0cm 9.0pt 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=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">258</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 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 style="font-size:8.0pt;">1,109</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Of which: Real
  estate</font></i></font></p>
  </td>
 <td nowrap width=12% style="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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">91</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">283</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">884</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other operating income</font></font></p>
  </td>
 <td width=12% style="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 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=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 style="font-size:8.0pt;">413</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">491</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">330</font></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 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:
  Hyperinflation adjustment&#160; (*)</font></i></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 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=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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">146</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">120</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=54% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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 style="font-size:8.0pt;">671</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">949</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">1,439</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;text-align:justify;"><a name="XBRL_TS_374b2f22d9f34d93aabcca7fa"></a><a name="XBRL_FS_862a6ee6fe8d4a7b8aa9bd8a1"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*) See Note
2.2.20.</font></font><a name="XBRL_FS_862a6ee6fe8d4a7b8aa9bd8a1_bclEnd"></a></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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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_374b2f22d9f34d93aabcca7fa_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51_009_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Other
  operating expense (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td nowrap width=60% 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 lang=EN-US 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 lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=60% 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:8.0pt;">Change in inventories</font></font></p>
  </td>
 <td width=10% style="border:none;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 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=10% 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 style="font-size:8.0pt;">107</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">292</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">886</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=60% 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 style="font-size:8.0pt;">Of which: Real
  estate</font></i></font></p>
  </td>
 <td nowrap width=10% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <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 style="font-size:8.0pt;">&nbsp;</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">68</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">248</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">816</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other operating
  expense</font></font></p>
  </td>
 <td width=10% 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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">1,899</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 style="font-size:8.0pt;">1,808</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 style="font-size:8.0pt;">1,337</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=60% 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=EN-US style="font-size:8.0pt;">Of which:
  Contributions to guaranteed banks deposits funds </font></i></font></p>
  </td>
 <td nowrap width=10% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <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=EN-US style="font-size:8.0pt;">&nbsp;</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">770</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">727</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">703</font></i></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=60% 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;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Of which:
  Hyperinflation adjustment (*)</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">538</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">494</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">31</font></i></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=60% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">2,006</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">2,101</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">2,223</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;text-align:justify;"><a name="XBRL_FS_b8e6547e142346c29c350f4ef"></a><a name="XBRL_TS_51005341e44b47868c02a97ca"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*) See Note
2.2.20.</font></font><a name="XBRL_FS_b8e6547e142346c29c350f4ef_bclEnd"></a><a name="XBRL_TS_51005341e44b47868c02a97ca_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="_Toc457490051"></a><a name="XBRL_TS_c7f3b140626443739a12bd4e0"></a><a name="_Toc474142315"></a><a name="_Toc481589105"></a><a name="_Toc495478157"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">43.&#160;&#160;
Income and expense from insurance and reinsurance contracts</font></b></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:8.0pt;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="XBRL_TS_c7f3b140626443739a12bd4e0_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51_009BIS_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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:21.75pt;">
  <td nowrap width=57% 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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</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=EN-US style="font-size:8.0pt;">Income on
  insurance and reinsurance contracts</font></font></p>
  </td>
 <td nowrap 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 lang=EN-US 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 style="font-size:8.0pt;">2,890</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 style="font-size:8.0pt;">2,949</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 style="font-size:8.0pt;">3,342</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=EN-US style="font-size:8.0pt;">Expense on
  insurance and reinsurance contracts</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=EN-US 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 style="font-size:8.0pt;">(1,751)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1,894)</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(2,272)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=57% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,138</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,055</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,069</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_9eaf0fa62e6845bd8cb065508"></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%;">The table
below shows the contribution of each insurance product to the Group&#180;s income
for the years ended December 31, 2019, 2018 and 2017:</font></font><a name="XBRL_TS_9eaf0fa62e6845bd8cb065508_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_23_005_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Income by
  type of insurance product (Millions of Euros)</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 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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</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 style="font-size:8.0pt;">Life insurance</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">631</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">682</font></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:8.0pt;">604</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Individual</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">477</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">486</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">346</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;">Savings</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">116</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">56</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">38</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;">Risk</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">361</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">430</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">308</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Group insurance</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">154</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">196</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">258</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;">Savings</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">26</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">39</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(4)</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;">Risk</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">127</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">157</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">263</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">Non-Life insurance</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">508</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">373</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">464</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;">Home insurance</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">90</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">110</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">118</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 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=EN-US style="font-size:8.0pt;">Other
  non-life insurance products</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">418</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">263</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">346</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=57% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">1,138</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">1,055</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:8.0pt;">1,069</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-152</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_393"></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:1.0pt;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:avoid;text-align:justify;"><a name="XBRL_TS_b504c23c22364ba9a5b727bb6"></a><a name="_Toc474142317"></a><a name="_Toc481589106"></a><a name="_Toc495478158"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">44.&#160;&#160;
Administration costs</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;"><a name="_Toc376950005"></a><a name="_Toc376972413"></a><a name="_Toc474142318"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">44.1&#160;&#160;
Personnel expense</font></b></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:8.0pt;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_b504c23c22364ba9a5b727bb6_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51_010_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Personnel
  expense (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td nowrap width=49% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Notes</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=49% 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;">Wages and salaries</font></font></p>
  </td>
 <td nowrap width=13% 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 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=13% 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 style="font-size:8.0pt;">4,920</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 style="font-size:8.0pt;">4,786</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">5,163</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=49% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Social security costs</font></font></p>
  </td>
 <td nowrap width=13% style="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 style="font-size:8.0pt;">&nbsp;</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">780</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 style="font-size:8.0pt;">722</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">761</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=49% 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;">Defined contribution
  plan expense</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 style="font-size:8.0pt;">25</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 style="font-size:8.0pt;">113</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 style="font-size:8.0pt;">89</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 style="font-size:8.0pt;">87</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=49% 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;">Defined benefit plan
  expense</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 style="font-size:8.0pt;">25</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 style="font-size:8.0pt;">50</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 style="font-size:8.0pt;">58</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 style="font-size:8.0pt;">62</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=49% 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;">Other personnel
  expense</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">&nbsp;</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=right style="border:none;margin: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;">478</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 style="font-size:8.0pt;">465</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=right style="border:none;margin: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;">497</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=49% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">6,340</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">6,120</font></b></font></p>
  </td>
 <td nowrap width=13% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">6,571</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;"><a name="XBRL_TS_f6568fd7b1804a648a0694ee5"></a><font style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">44.1.1&#160;&#160; Share-based employee remuneration</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:8.0pt;line-height:115%;">The amounts recognized under the heading &#8220;Administration costs -
Personnel expense - Other personnel expense&#8221; in the consolidated income
statements for the year ended December 31, 2019, 2018 and 2017, corresponding&#160;
to the remuneration plans based on equity instruments in each year, amounted to
&#8364;31 million, &#8364;29 million and &#8364;38 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-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:8.0pt;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:0cm;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;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:8.0pt;line-height:115%;">System of Variable
Remuneration in Shares</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:8.0pt;line-height:115%;">BBVA has a specific remuneration
system applicable to those employees whose professional activities may have a
material impact on the risk profile of the Group (hereinafter &#8220;Identified
Staff&#8221;), designed within the framework of applicable regulations to credit
institutions and considering best practices and recommendations at the local
and international levels in this matter.</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:8.0pt;line-height:115%;">In 2019,
this remuneration scheme is reflected in the following remuneration policies: </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;"><a name="_headingh30j0zll"></a><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">BBVA Group Remuneration Policy, </font></b></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">approved by the Board of Directors on 29 of November 2017, that
applies in general to all employees of BBVA and of its subsidiaries that form
part of the consolidated group. This policy includes in a specific chapter the
remuneration system applicable to the members of BBVA Group Identified Staff,
including Senior Management.</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:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><b><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">BBVA Directors&#8217; Remuneration Policy</font></b></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">, approved by the Board of Directors and by the General
Shareholders&#8217; Meeting held on March 15, 2019, that it&#8217;s applicable to BBVA
Directors. The remuneration system for executive directors corresponds,
generally, with the applicable system to the Identified Staff, to which they
belong, incorporating some particularities of their own, derived from their
condition of directors.</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:8.0pt;line-height:115%;">The Annual
Variable Remuneration for the Identified Staff members is subject to specific
rules for settlement and payment established in their corresponding
remuneration policies, 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 color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Variable remuneration for
Identified Staff members for each financial year will be subject to </font><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">ex ante </font></i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">adjustments,
so that it shall be reduced at the time of the performance assessment in the
event of negative performance of the Group&#8217;s results or other parameters such
as the level of achievement of budgeted targets, and it shall not accrue or it
will accrue in a reduced amount, should certain level of profits and capital
ratios not be achieved. </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:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">60% of the Annual Variable
Remuneration will be paid, if conditions are met, in the year following that to
which it corresponds (the &#8220;Upfront Portion&#8221;). For executive directors, members
of the Senior Management and Identified Staff members with particularly high
variable remuneration, the Upfront Portion will be 40% of the Annual Variable
Remuneration. The remaining portion will be deferred in time (hereinafter, the
&#8220;Deferred Component&#8221;) for a 5 year-period for executive directors and members
of the Senior Management, and 3 years for the remaining Identified Staff. </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:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">50% of the Annual Variable
Remuneration, both the Upfront Portion and the Deferred Component, shall be
established in BBVA shares. As regards executive directors and Senior
Management, 60% of the Deferred Component shall be established in shares.</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:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Shares received as Annual Variable
Remuneration shall be withheld for a one-year period after delivery, except for
the transfer of those shares required to honor the payment taxes.</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-153</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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;text-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The Deferred Component of the
Annual Variable Remuneration may be reduced in its entirety, 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, profitability or to the share performance and the
recurring results 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-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Resulting cash portions of the
Deferred Component of Annual Variable Remuneration and subject to the
multi-year performance indicators, finally delivered, shall be updated
following the Consumer Price Index (CPI), measured as the year-on-year change
prices, as agreed by the 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-indent:-18.0pt;"><font color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The entire Annual Variable
Remuneration shall be subject to </font><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">malus&nbsp;</font></i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> and </font><i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">clawback&nbsp;</font></i><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;"> arrangements
during the whole deferral and withholding period, both linked to a downturn in
the financial performance of the Bank as a whole, of a specific unit or area,
or of exposure generated by an Identified Staff member, when such a downturn in
financial performance arises from any of the circumstances expressly named in
the remuneration policies.</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:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">No personal hedging strategies or
insurances shall 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-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:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The variable component of the
remuneration for a financial year shall be limited to a maximum amount of 100%
of the fixed component of the total remuneration, unless the General Meeting
resolves to increase this percentage up to a maximum of 200%.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;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%;">In this regard, the General Meeting
held on March, 15, 2019 resolved to increase this limit to a maximum level of
200% of the fixed component of the total remuneration for a given number of the
Identified Staff members, in the terms indicated in the report issued for this
purpose by the Board of Directors dated February 11, 2019.</font></font><a name="XBRL_TS_f6568fd7b1804a648a0694ee5_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;text-align:justify;"><a name="XBRL_TS_614d937c3b354698ab2eb34b9"></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%;">According to the settlement and payment scheme indicated, during
2019, a total amount of 5,236,123 BBVA shares corresponding to the Upfront Portion
of 2018 Annual Variable Remuneration has been delivered to the Identified
Staff.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;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%;">Additionally, according to the
Remuneration Policy applicable in 2015, during 2019 a total amount of 3,575,777
BBVA shares corresponding to the Deferred Component of 2015 Variable
Remuneration has been delivered to the Identifies Staff. This amount has been
subject to a downward adjustment due to the multi-year performance evaluation
of one of the long-time indicators, relative TSR, which scale has determined a
downward adjustment of the Deferred Component linked to this indicator in a 10%</font><font color=red 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:6.0pt;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%;">Likewise, the aforesaid policy
established that the deferred amounts in shares of the Annual Variable
Remuneration finally vested, subject to multi-year performance indicators, will
be updated in cash, based on the terms established by the Board of Directors.
In this regard, during 2019 a total amount of 3,003,646 euros has been
delivered to the Identified Staff as updates of the corresponding shares of the
Deferred Component of 2015 Annual Variable Remuneration.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;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%;">Detailed information on the
delivery of shares to executive directors and Senior Management is included in
Note 54.</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:8.0pt;line-height:115%;">Lastly, in
line with specific regulation applicable in Portugal and Brazil, BBVA has
identified the staff in these countries whose Annual Variable Remuneration
should be subject to a specific settlement and payment scheme, more
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 color=windowtext face=Symbol style="border:none;"><font color=windowtext face=Symbol lang=EN-US style="font-size:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">A percentage of the Annual Variable
Remuneration is subject to a three years deferral that shall be paid yearly
over the mentioned period.</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:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">50% of the Annual Variable
Remuneration, both the Upfront Portion and Deferred Component, shall be
established in BBVA Shares.</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:8.0pt;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;
&nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">Both the Upfront Portion and the
Deferred Component of the Annual Variable Remuneration may be subject to update
adjustments in cash.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;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%;">According to this remuneration
scheme, during financial year 2019 a total of 21,916 BBVA shares corresponding
to the Upfront Portion of 2018 Annual Variable Remuneration have been delivered
to this staff in Portugal and Brazil.</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:8.0pt;line-height:115%;">Additionally, during 2019 there
have been delivered to this staff in Portugal and Brazil a total of 9,717 BBVA
shares corresponding to the first third of the Deferred Component of 2017
Annual Variable Remuneration, as well as 2,435 euros as adjustments for
updates. A total of 12,365 BBVA shares corresponding to the second third of the
Deferred Component of 2016 Annual Variable Remuneration and 5,810 euros as
adjustments for updates; and a total of 10,460 BBVA shares corresponding to the
last third of the Deferred Component of 2015 Annual Variable Remuneration and
8,786 euros as adjustments for updates.</font></font><a name="XBRL_TS_614d937c3b354698ab2eb34b9_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-154</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</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">

<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:8.0pt;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:avoid;text-align:justify;"><a name="XBRL_TS_d79a73efe9974f76a9769ba0c"></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;">44.2&#160;&#160;
Other administrative expense</font></b></font></h2>

<p align=left style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:left;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;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_d79a73efe9974f76a9769ba0c_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51_014_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Other
  administrative expense (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td nowrap width=58% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 style="font-size:8.0pt;">Technology and
  systems</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;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 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 style="font-size:8.0pt;">1,216</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 style="font-size:8.0pt;">1,133</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 style="font-size:8.0pt;">1,018</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 style="font-size:8.0pt;">Communications </font></font></p>
  </td>
 <td nowrap width=11% style="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 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 style="font-size:8.0pt;">218</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 style="font-size:8.0pt;">235</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 style="font-size:8.0pt;">269</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 style="font-size:8.0pt;">Advertising</font></font></p>
  </td>
 <td nowrap width=11% style="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 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 style="font-size:8.0pt;">317</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 style="font-size:8.0pt;">336</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 style="font-size:8.0pt;">352</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 style="font-size:8.0pt;">Property, fixtures
  and materials</font></font></p>
  </td>
 <td nowrap width=11% style="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 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 style="font-size:8.0pt;">552</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 style="font-size:8.0pt;">982</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 style="font-size:8.0pt;">1,033</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 style="font-size:8.0pt;">Of which: Rent
  expense (*)</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">106</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">552</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">581</font></i></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=EN-US style="font-size:8.0pt;">Taxes other
  than income tax</font></font></p>
  </td>
 <td width=11% style="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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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 style="font-size:8.0pt;">401</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 style="font-size:8.0pt;">417</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 style="font-size:8.0pt;">456</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 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 expense</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;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 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 style="font-size:8.0pt;">1,258</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 style="font-size:8.0pt;">1,271</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 style="font-size:8.0pt;">1,412</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=58% style="background:#5AC4C4;border:none;border-bottom:solid 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</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">3,963</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">4,374</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">4,541</font></b></font></p>
  </td>
 </tr>
</table></div>



<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;"><a name="XBRL_FS_1013e66e654047d7a5e28f63a"></a><a name="XBRL_TS_ec56f118c09c420c92a940655"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*) The change is mainly due
to the implementation of IFRS 16 on January 1, 2019 (see Note 2.1).</font></font><a name="XBRL_FS_1013e66e654047d7a5e28f63a_bclEnd"></a><a name="XBRL_TS_ec56f118c09c420c92a940655_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:avoid;text-align:justify;"><a name="_Toc376950010"></a><a name="_Toc347755883"></a><a name="_Toc331260345"></a><a name="_Toc299032904"></a><a name="_Toc299031565"></a><a name="_Toc299029485"></a><a name="_Toc298431747"></a><a name="XBRL_TS_f5bf70ce10674792a51c93b37"></a><a name="_Toc495478159"></a><a name="_Toc481589107"></a><a name="_Toc474142321"></a><a name="_Toc457490052"></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-155</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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: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:11.0pt;">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:11.0pt;"> and
amortization </font></b></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:8.0pt;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_f5bf70ce10674792a51c93b37_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 title="F_I_37.51_015_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Depreciation
  and amortization (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td nowrap width=52% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Notes</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=52% 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;">Tangible assets</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">17</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 style="font-size:8.0pt;">979</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 style="font-size:8.0pt;">594</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 style="font-size:8.0pt;">694</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=52% 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;">For own use</font></font></p>
  </td>
 <td width=12% 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;"><font color=#666666 face=Arial,sans-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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">584</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">680</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=52% 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;">Investment
  properties</font></font></p>
  </td>
 <td width=12% 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;"><font color=#666666 face=Arial,sans-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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">3</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">5</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">13</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=52% 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;">Right-of-use assets
  (*)</font></font></p>
  </td>
 <td width=12% 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;"><font color=#666666 face=Arial,sans-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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">392</font></font></p>
  </td>
 <td nowrap width=12% style="background:#BFBFBF;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% style="background:#BFBFBF;height:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=52% 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;">Other Intangible
  assets</font></font></p>
  </td>
 <td width=12% 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 style="font-size:8.0pt;">18.2</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 style="font-size:8.0pt;">620</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 style="font-size:8.0pt;">613</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 style="font-size:8.0pt;">694</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=52% style="background:#5AC4C4;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 </font></b></font></p>
  </td>
 <td width=12% style="background:#5AC4C4;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=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,599</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,208</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,387</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;"><a name="XBRL_FS_3030b26a46c24765bfe490801"></a><a name="XBRL_TS_c14ecf3aa41c4b81925314a97"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*) The change is mainly due
to the implementation of IFRS 16 on January 1, 2019 (see Note 2.1).</font></font><a name="XBRL_FS_3030b26a46c24765bfe490801_bclEnd"></a><a name="XBRL_TS_c14ecf3aa41c4b81925314a97_bclEnd"></a></p>

<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:1.0pt;">&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="_Toc376950011"></a><a name="_Toc347755884"></a><a name="_Toc331260346"></a><a name="_Toc299032905"></a><a name="_Toc299031566"></a><a name="_Toc299029486"></a><a name="_Toc298431748"></a><a name="XBRL_TS_c4a566d9547d4dfa94c498d0a"></a><a name="_Toc495478160"></a><a name="_Toc481589108"></a><a name="_Toc474142322"></a><a name="_Toc457490053"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">46.&#160;&#160;
Provisions or (reversal) of provisions</font></b></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:8.0pt;line-height:115%;">For the
years ended December 31, 2019, 2018 and 2017, the net provisions recognized in
this income statement line item were as follows:</font></font><a name="XBRL_TS_c4a566d9547d4dfa94c498d0a_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51_016_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Provisions or
  (reversal) of provisions (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td nowrap width=56% 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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Notes</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 align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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 align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</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 align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</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 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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: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 style="font-size:8.0pt;">25 </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 style="font-size:8.0pt;">214</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 style="font-size:8.0pt;">125</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 style="font-size:8.0pt;">343</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td 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;">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 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 style="font-size:8.0pt;">93</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 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 style="font-size:8.0pt;">(313)</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td 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=EN-US 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 lang=EN-US 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 style="font-size:8.0pt;">170</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 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 style="font-size:8.0pt;">318</font></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;"><font color=black face=Arial,sans-serif 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 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 style="font-size:8.0pt;">140</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 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 style="font-size:8.0pt;">397</font></font></p>
  </td>
 </tr>
<tr style="height:11.45pt;">
  <td nowrap width=56% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">617</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">373</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">745</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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:1.0pt;">&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="_Toc376950012"></a><a name="_Toc347755885"></a><a name="_Toc331260347"></a><a name="_Toc299032906"></a><a name="_Toc299031567"></a><a name="_Toc299029487"></a><a name="_Toc298431749"></a><a name="XBRL_TS_cb32493044744193925f29348"></a><a name="_Toc495478161"></a><a name="_Toc481589109"></a><a name="_Toc474142323"></a><a name="_Toc457490054"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">47.&#160;&#160;
Impairment or (reversal) of impairment on financial assets not measured at fair
value through profit or loss</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:11.0pt;"> or net gains by modification</font></b></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:8.0pt;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_cb32493044744193925f29348_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51_017_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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 (Millions of Euros)</font></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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=56% style="border:none;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 lang=EN-US style="font-size:9.0pt;">Financial
  assets at fair value through other comprehensive income </font></font></p>
  </td>
 <td nowrap width=11% style="border:none;height:24.0pt;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=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">82</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=11% style="border:none;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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,127</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;">Debt securities</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=#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:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">82</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(4)</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;">Equity instruments</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=#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="background:#D9D9D9;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 style="font-size:8.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=11% style="background:#D9D9D9;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 style="font-size:8.0pt;">&nbsp;</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">1,131</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=EN-US style="font-size:9.0pt;">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 lang=EN-US 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 style="font-size:8.0pt;">4,069</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:8.0pt;">3,677</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;"><i><font color=#666666 face=Arial,sans-serif lang=EN-US 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">7.1.5</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">919</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">558</font></i></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:9.0pt;">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 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;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></i></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;"><i><font color=black face=Arial,sans-serif 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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">(1)</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="background:#5AC4C4;border:none;border-bottom:solid 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:9.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">4,151</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">3,981</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">4,803</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: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-156</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_397"></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;"><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>

<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:1.0pt;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:avoid;text-align:justify;"><a name="_Toc376950013"></a><a name="_Toc347755886"></a><a name="_Toc298431750"></a><a name="_Toc331260348"></a><a name="XBRL_TS_ebb22bce079d4328a17df8d1f"></a><a name="_Toc495478162"></a><a name="_Toc481589110"></a><a name="_Toc474142324"></a><a name="_Toc457490055"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">48.&#160;&#160;
Impairment or (reversal) of impairment on non-financial assets</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:11.0pt;">
&nbsp;</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">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_ebb22bce079d4328a17df8d1f_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51_018_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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 nowrap width=52% 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 lang=EN-US 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Notes</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=52% 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;">Tangible assets</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">17</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 style="font-size:8.0pt;">94</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 style="font-size:8.0pt;">5</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 style="font-size:8.0pt;">42</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=52% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Intangible assets (*)</font></font></p>
  </td>
 <td nowrap width=12% 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=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 style="font-size:8.0pt;">1,330</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 style="font-size:8.0pt;">83</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 style="font-size:8.0pt;">16</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=52% 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;">Others&#160;&#160; </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=center style="border:none;margin: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;">20</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 style="font-size:8.0pt;">23</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 style="font-size:8.0pt;">51</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 style="font-size:8.0pt;">306</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=52% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">1,447</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">138</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">364</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;"><a name="XBRL_FS_8fcb95d946574147bf2a0e315"></a><a name="XBRL_TS_f6c76cbd988d404f8d206cb8b"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*) The balance of 2019
mainly corresponds to the impairment of the CGU in The United States (see Note
18).</font></font><a name="XBRL_FS_8fcb95d946574147bf2a0e315_bclEnd"></a><a name="XBRL_TS_f6c76cbd988d404f8d206cb8b_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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:1.0pt;">&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="_Toc376950016"></a><a name="_Toc347755887"></a><a name="_Toc331260349"></a><a name="_Toc298431751"></a><a name="_Toc299032907"></a><a name="_Toc299031568"></a><a name="_Toc299029488"></a><a name="XBRL_TS_147515e1875849ab984677cd9"></a><a name="_Toc495478163"></a><a name="_Toc481589111"></a><a name="_Toc474142325"></a><a name="_Toc457490056"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">49.&#160;&#160;
Gains (losses) on derecognition of non financial assets and subsidiaries, net</font></b></font></p>

<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:8.0pt;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_147515e1875849ab984677cd9_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51_019_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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 nowrap 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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=EN-US 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 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=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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 style="font-size:8.0pt;">&nbsp;</font></b></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=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif 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=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif 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=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif style="font-size:8.0pt;">-</font></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=EN-US 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 9.0pt 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=EN-US 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 style="font-size:8.0pt;">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 style="font-size:8.0pt;">55</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">38</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 style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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 9.0pt 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=EN-US 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 style="font-size:8.0pt;">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 style="font-size:8.0pt;">81</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">69</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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 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=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif 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=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif style="font-size:8.0pt;">-</font></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=EN-US 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 9.0pt 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=EN-US 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 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 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 style="font-size:8.0pt;">(27)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap 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;"><font color=black face=Arial,sans-serif lang=EN-US 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 9.0pt 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=EN-US 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 style="font-size:8.0pt;">(37)</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 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 style="font-size:8.0pt;">(33)</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=56% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total </font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">(3)</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">78</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">47</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:1.0pt;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:avoid;text-align:justify;"><a name="_Toc376950017"></a><a name="_Toc347755888"></a><a name="_Toc331260350"></a><a name="_Toc299032908"></a><a name="_Toc299031569"></a><a name="_Toc299029489"></a><a name="_Toc298431752"></a><a name="XBRL_TS_1d0dc179d1ba407fb7b002795"></a><a name="_Toc495478164"></a><a name="_Toc481589112"></a><a name="_Toc474142326"></a><a name="_Toc457490057"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">50.&#160;&#160;
Gain (losses) from non-current assets and disposal groups classified as held
for sale not qualifying as discontinued operations</font></b></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:8.0pt;line-height:150%;">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_1d0dc179d1ba407fb7b002795_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_37.51_020_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Gain (losses)
  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:12.75pt;">
  <td nowrap width=55% 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=#0A5FB4 face=Arial,sans-serif style="border:none;"><b><font color=#0A5FB4 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Notes</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=55% 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=EN-US style="font-size:8.0pt;">Gains on sale
  of real estate</font></font></p>
  </td>
 <td nowrap width=12% 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=EN-US 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 style="font-size:8.0pt;">89</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 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 style="font-size:8.0pt;">102</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Impairment of
  non-current assets held for sale</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 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 style="font-size:8.0pt;">(77)</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(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 style="font-size:8.0pt;">(158)</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td 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 lang=EN-US style="font-size:8.0pt;">Gains (losses)
  on sale of investments classified as non-current assets held for sale (*)</font></font></p>
  </td>
 <td nowrap width=12% style="height:22.5pt;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=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">10</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 style="font-size:8.0pt;">894</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 style="font-size:8.0pt;">82</font></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;"><font color=black face=Arial,sans-serif lang=EN-US 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=12% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;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=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=55% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;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:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">21</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">815</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">26</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;page-break-after:avoid;text-align:left;"><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:21.25pt;margin-right:33.75pt;margin-top:3.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_e9ec3e1ece1f4e848334d03dc"></a><a name="XBRL_TS_52797e3265a2428b808addd10"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*)&#160;&#160; The variation in year
2018 is mainly due to the sale of the BBVA stake in BBVA Chile (see Note 3).</font></font><a name="XBRL_FS_e9ec3e1ece1f4e848334d03dc_bclEnd"></a><a name="XBRL_TS_52797e3265a2428b808addd10_bclEnd"></a></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:avoid;text-align:justify;"><a name="XBRL_TS_6a30cea519184fb29205f5f91"></a></p>
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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_398"></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:11.0pt;">51.&#160;&#160;
Consolidated statements of cash flows</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:8.0pt;line-height:115%;">In the consolidated statements of cash flows,
balance of &#8220;Cash equivalent in central banks&#8221; includes short-term deposits at
central banks recorded 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-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">The variation between 2019 and 2018
of the financial liabilities from financing activities is the following:</font></font><a name="XBRL_TS_6a30cea519184fb29205f5f91_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_51_001_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Liabilities
  from financing activities (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=37% 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 lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td rowspan=2 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 31, 2018</font></b></font></p>
  </td>
 <td rowspan=2 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Cash flows </font></b></font></p>
  </td>
 <td colspan=4 width=36% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Non-cash changes</font></b></font></p>
  </td>
 <td rowspan=2 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 31, 2019</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td valign=top width=37% style="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=EN-US style="font-size:10.0pt;">&nbsp;</font></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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Acquisition</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Disposal</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Foreign exchange movement</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Fair value changes</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=37% 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=EN-US style="font-size:8.0pt;">Liabilities
  at amortized cost: Debt certificates</font></font></p>
  </td>
 <td width=9% 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=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif style="font-size:8.0pt;">61,112 </font></font></p>
  </td>
 <td width=9% 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=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif style="font-size:8.0pt;">2,643 </font></font></p>
  </td>
 <td width=9% 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=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=9% 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=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=9% 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=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif style="font-size:8.0pt;">209 </font></font></p>
  </td>
 <td width=9% 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=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=9% 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=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif style="font-size:8.0pt;">63,963 </font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=37% style="height:13.5pt;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;"><i><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Of which:
  Issuances of subordinated liabilities (*) </font></i></font></p>
  </td>
 <td 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">17,635 </font></i></font></p>
  </td>
 <td 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(190)</font></i></font></p>
  </td>
 <td 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">229 </font></i></font></p>
  </td>
 <td 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">17,675 </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:6.0pt;"><a name="XBRL_FS_28227a1aeb244b70b10381a0b"></a><a name="XBRL_FS_df090eba47514c2b9887f23e8"></a><a name="XBRL_TS_bbdf7fff5ff2450ab26e9ef88"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*) Additionally, there are
&#8364;384 million of issuances of subordinated liabilities as of December 2019 (see
Note 22 and Appendix VI). The &#8364;40 million subordinated issuances of BBVA
Paraguay as of December 2019 are recorded in the heading &quot;Liabilities
included in disposal groups classified as held for sale&quot;.</font></font><a name="XBRL_FS_28227a1aeb244b70b10381a0b_bclEnd"></a><a name="XBRL_FS_df090eba47514c2b9887f23e8_bclEnd"></a><a name="XBRL_TS_bbdf7fff5ff2450ab26e9ef88_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;"> &nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_51_002_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Liabilities
  from financing activities (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=top width=30% 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 lang=EN-US style="font-size:10.0pt;">&nbsp;</font></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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 31, 2017</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Cash flows </font></b></font></p>
  </td>
 <td colspan=4 width=40% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 31, 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td valign=top width=30% style="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=EN-US style="font-size:10.0pt;">&nbsp;</font></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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Acquisition</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Disposal</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Fair value changes</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td width=30% style="height:24.75pt;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=EN-US style="font-size:8.0pt;">Liabilities
  at amortized cost: Debt certificates</font></font></p>
  </td>
 <td width=10% 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=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif style="font-size:8.0pt;">61,649 </font></font></p>
  </td>
 <td width=10% 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=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif style="font-size:8.0pt;">2,152 </font></font></p>
  </td>
 <td width=10% 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=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=10% 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=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif style="font-size:8.0pt;">(1,828)</font></font></p>
  </td>
 <td width=10% 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=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif style="font-size:8.0pt;">(862)</font></font></p>
  </td>
 <td width=10% 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=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td width=10% 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=#333333 face=Arial,sans-serif style="border:none;"><font color=#333333 face=Arial,sans-serif style="font-size:8.0pt;">61,112 </font></font></p>
  </td>
 </tr>
<tr style="height:18.6pt;">
  <td width=30% style="height:18.6pt;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;"><i><font color=#666666 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Of which:
  Issuances of subordinated liabilities (*) </font></i></font></p>
  </td>
 <td width=10% 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">17,443 </font></i></font></p>
  </td>
 <td width=10% 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">857 </font></i></font></p>
  </td>
 <td width=10% 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td width=10% 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">(694)</font></i></font></p>
  </td>
 <td width=10% 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">29 </font></i></font></p>
  </td>
 <td width=10% 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">-</font></i></font></p>
  </td>
 <td width=10% 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">17,635 </font></i></font></p>
  </td>
 </tr>
</table></div>



<p align=left style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;text-align:left;"><a name="XBRL_FS_1cd6ab13ce784fe9913b24fc2"></a><a name="XBRL_FS_6cf4fd00dfa7417f9c5642ea6"></a><a name="XBRL_TS_c72ce3571e7b4718b3816f5d7"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*) Additionally, there were
&#8364;411 million of issuances of subordinated liabilities as of December 2019 (see
Note 22 and Appendix VI). The &#8364;574 million subordinated issuances of BBVA Chile
as of December 2019 were recorded in the heading &quot;Liabilities included in
disposal groups classified as held for sale&quot;.</font></font><a name="XBRL_FS_1cd6ab13ce784fe9913b24fc2_bclEnd"></a><a name="XBRL_FS_6cf4fd00dfa7417f9c5642ea6_bclEnd"></a><a name="XBRL_TS_c72ce3571e7b4718b3816f5d7_bclEnd"></a></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:avoid;text-align:justify;"><a name="_Toc331260352"></a><a name="_Toc298431754"></a><a name="_Toc299029491"></a><a name="_Toc299031571"></a><a name="_Toc299032910"></a><a name="_Toc347755890"></a><a name="_Toc376950023"></a><a name="XBRL_TS_d9d274feca4c4eb19b4b0de87"></a><a name="_Toc457490059"></a><a name="_Toc474142328"></a><a name="_Toc481589114"></a><a name="_Toc495478166"></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-158</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</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">

<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-bidi-font-size:11.0pt;"><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: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:11.0pt;">52.&#160;&#160; Accountant fees and services</font></b></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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The details of the fees for the
services contracted by entities of the BBVA Group for the years ended December
31, 2019, 2018 and 2017 with their respective auditors and other audit entities
are as follows:</font></font><a name="XBRL_TS_d9d274feca4c4eb19b4b0de87_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_52_001_F_XBRL" 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=#01A5A5 face=Arial,sans-serif style="border:none;"><font color=#01A5A5 face=Arial,sans-serif lang=EN-US 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=57% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=15% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td valign=bottom width=57% 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=EN-US 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=14% 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:8.0pt;">28.1</font></font></p>
  </td>
 <td nowrap width=15% 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:8.0pt;">26.1</font></font></p>
  </td>
 <td nowrap width=14% 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:8.0pt;">27.2</font></font></p>
  </td>
 </tr>
<tr style="height:36.75pt;">
  <td valign=bottom width=57% style="height:36.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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=14% 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 style="font-size:8.0pt;">1.5</font></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:8.0pt;">1.5</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">1.9</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td valign=bottom 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=EN-US style="font-size:8.0pt;">Fees for audits
  conducted by other firms</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% 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 style="font-size:8.0pt;">0.1 </font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">0.1 </font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:21.25pt;margin-right:33.75pt;margin-top:12.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_TS_7ec6e4a30fee4adbb958f755d"></a><a name="XBRL_FS_b8531ab0091d4e0faf83c0450"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(*)&#160;&#160; Including fees
pertaining to annual legal audits (&#8364;24.1, &#8364;22.4 and &#8364;22.6 million as of
December 31, 2019, 2018 and 2017, respectively).</font></font><a name="XBRL_FS_b8531ab0091d4e0faf83c0450_bclEnd"></a></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:21.25pt;margin-right:33.75pt;margin-top:0cm;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_FS_7016f425be434439be58c91d4"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">(**)&#160;&#160; Regardless of the
billed year.</font></font><a name="XBRL_FS_7016f425be434439be58c91d4_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:8.0pt;line-height:115%;">In the years ended December 31, 2019, 2018 and 2017, certain
entities in the BBVA Group contracted other services (other than audits) as
follows:</font></font><a name="XBRL_TS_7ec6e4a30fee4adbb958f755d_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_52_002_F_XBRL" 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=#01A5A5 face=Arial,sans-serif style="border:none;"><font color=#01A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Other
  services rendered (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td width=58% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-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:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</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=EN-US style="font-size:8.0pt;">Firms belonging
  to the KPMG worldwide organization</font></font></p>
  </td>
 <td width=14% 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 style="font-size:8.0pt;">0.3</font></font></p>
  </td>
 <td width=14% 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 style="font-size:8.0pt;">0.3</font></font></p>
  </td>
 <td width=14% 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 style="font-size:8.0pt;">0.5</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_1e880d3f20f74a5cb1998904e"></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%;">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_1e880d3f20f74a5cb1998904e_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_52_003_F_XBRL" 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=#01A5A5 face=Arial,sans-serif style="border:none;"><font color=#01A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Fees for
  audits conducted (*) (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 lang=EN-US style="font-size:8.0pt;">&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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=58% 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=EN-US style="font-size:8.0pt;">Legal audit of
  BBVA, S.A. or its companies under control</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">6.5</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">6.7</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">6.8</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Other audit
  services of BBVA, S.A. or its companies under control</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5.5</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5.9</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5.0</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Limited Review
  of BBVA, S.A. or its companies under control</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.9</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1.1</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.9</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Reports related to
  issuances</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.3</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.3</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.4</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Assurance
  services and other required by the regulator</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.8</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.9</font></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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">0.6</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Other </font></font></p>
  </td>
 <td 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:21.25pt;margin-right:33.75pt;margin-top:12.0pt;text-align:justify;text-indent:-21.25pt;"><a name="XBRL_TS_ef7f2b48c42b4b9aaa0c620bd"></a><a name="XBRL_FS_9c5a183305dc4c1d98378a0e3"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*)&#160;&#160;&#160; </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN style="font-size:6.0pt;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_9c5a183305dc4c1d98378a0e3_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:8.0pt;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_ef7f2b48c42b4b9aaa0c620bd_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_233065ab7934458e82d066b6e"></a><a name="_Toc457490060"></a><a name="_Toc474142329"></a><a name="_Toc481589115"></a><a name="_Toc495478167"></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-159</font></font><font face=Arial,sans-serif style="border:none;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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">

<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:11.0pt;">53.&#160;&#160; Related-party transactions</font></b></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:8.0pt;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. These transactions are
not relevant and are carried out under normal market conditions. As of December
31, 2019, 2018, and 2017 the following are the transactions with related
parties:</font></font></p>

<h2 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="_Toc376950019"></a><a name="_Toc376972427"></a><a name="_Toc474142330"></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;">53.1&#160;&#160;
Transactions with significant shareholders</font></b></font></h2>

<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:8.0pt;line-height:115%;">As of
December 31, 2019, 2018 and 2017, there were no shareholders considered
significant (see Note 26).</font></font><a name="XBRL_TS_233065ab7934458e82d066b6e_bclEnd"></a></p>

<h2 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_63f6a5205bd443feb62510de5"></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;">53.2&#160;&#160;
Transactions with BBVA Group entities</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The balances of the main captions 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_63f6a5205bd443feb62510de5_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_53_001_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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:18.0pt;">
  <td width=45% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Assets</font></b></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">&nbsp;</font></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=EN-US style="font-size:8.0pt;">Loans and
  advances to credit institutions</font></font></p>
  </td>
 <td nowrap width=13% 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=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">26</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 style="font-size:8.0pt;">132</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 style="font-size:8.0pt;">91</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 lang=EN-US style="font-size:8.0pt;">Loans and
  advances to customers</font></font></p>
  </td>
 <td nowrap width=13% 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=EN-US style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">1,682</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 style="font-size:8.0pt;">1,866</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 style="font-size:8.0pt;">510</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Liabilities</font></b></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">&nbsp;</font></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 style="font-size:8.0pt;">Deposits from credit
  institutions</font></font></p>
  </td>
 <td nowrap width=13% 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 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 style="font-size:8.0pt;">3</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 style="font-size:8.0pt;">2</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 style="font-size:8.0pt;">5</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 style="font-size:8.0pt;">Customer deposits</font></font></p>
  </td>
 <td nowrap width=13% 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 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 style="font-size:8.0pt;">453</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 style="font-size:8.0pt;">521</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 style="font-size:8.0pt;">428</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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;">Debt certificates </font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">&nbsp;</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Memorandum accounts</font></b></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td 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;">Contingent
  commitments</font></font></p>
  </td>
 <td nowrap width=13% 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=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=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 style="font-size:8.0pt;">166</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 style="font-size:8.0pt;">152</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 style="font-size:8.0pt;">114</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=45% 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 contingent
  commitments given</font></font></p>
  </td>
 <td nowrap width=13% 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=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 style="font-size:8.0pt;">1,042</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 style="font-size:8.0pt;">1,358</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 style="font-size:8.0pt;">1,175</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 style="font-size:8.0pt;">Financial guarantees
  given</font></font></p>
  </td>
 <td nowrap width=13% 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 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 style="font-size:8.0pt;">106</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 style="font-size:8.0pt;">78</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 style="font-size:8.0pt;">78</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;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_a1bfa0787a894db9a61df6b27"></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%;">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_a1bfa0787a894db9a61df6b27_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_53_002_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Balances of
  consolidated income statement arising from transactions with entities of the
  Group (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=62% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% 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 lang=EN-US style="font-size:8.0pt;">&nbsp;</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2019</font></b></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2018</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">2017</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Income statement</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;"><font color=black face=Arial,sans-serif 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 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 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap 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 style="font-size:8.0pt;">Interest and other
  income</font></font></p>
  </td>
 <td nowrap 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 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=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 style="font-size:8.0pt;">19</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 style="font-size:8.0pt;">55</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 style="font-size:8.0pt;">26</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 style="font-size:8.0pt;">Interest expense</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">1</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 style="font-size:8.0pt;">2</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 style="font-size:8.0pt;">1</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 style="font-size:8.0pt;">Fee and commission
  income</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">4</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 style="font-size:8.0pt;">5</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 style="font-size:8.0pt;">5</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 style="font-size:8.0pt;">Fee and commission
  expense</font></font></p>
  </td>
 <td nowrap width=9% 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 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 style="font-size:8.0pt;">53</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 style="font-size:8.0pt;">48</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 style="font-size:8.0pt;">49</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;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_1f01ec7056e449bbb693b879b"></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 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 commitments (see Note 25) and the derivatives transactions arranged by
BBVA Group with these entities, associates and joint ventures.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">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_1f01ec7056e449bbb693b879b_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-160</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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:8.0pt;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:avoid;text-align:justify;"><a name="XBRL_TS_233bf1ebffbf4e1295a75ca30"></a><a name="_Toc376950021"></a><a name="_Toc376972429"></a><a name="_Toc474142332"></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;">53.3&#160;&#160;
Transactions with members of the Board of Directors and Senior Management</font></b></font></h2>

<p style="border:none;margin:0cm;margin-bottom: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%;">The amount and nature of the
transactions carried out with members of the Board of Directors and Senior
Management of BBVA is given below. These transactions belong to the Bank's ordinary
business or traffic, are of little relevance and are carried out under normal
market 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:8.0pt;line-height:115%;">As of December 31, 2019 and 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;607 and &#8364;611 thousand,
respectively. As of December 31, 2017, there were no loans granted by the
Group&#8217;s entities to the members of the Board of 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:8.0pt;line-height:115%;">As of December 31, 2019, 2018 and
2017, there were no loans granted to parties related to the members of the
Board of 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:8.0pt;line-height:115%;">As of December 31, 2019, 2018 and
2017, the amount availed against the loans granted by the Group&#8217;s entities to
the members of Senior Management (excluding the executive directors) amounted
to &#8364;4,414, &#8364;3,783 and &#8364;4,049 thousand, respectively. The amount availed against
the loans granted to parties related to members of the Senior Management on
those same dates amounted to &#8364;57, &#8364;69 and &#8364;85 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:8.0pt;line-height:115%;">As of December 31, 2019, 2018 and
2017 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;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%;">As of December 31, 2019, 2018 and
2017, the amount availed against guarantees arranged with members of the Senior
Management amounted to &#8364;10, &#8364;38 and &#8364;28 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:8.0pt;line-height:115%;">As of December 31, 2019 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 to &#8364;25 thousand. 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 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;8 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:8.0pt;line-height:115%;">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>

<h2 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="_Toc376950022"></a><a name="_Toc376972430"></a><a name="_Toc474142333"></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;">53.4&#160;&#160;
Transactions with other related parties</font></b></font></h2>

<p style="border:none;margin:0cm;margin-bottom: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%;">As of </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">December 31, 2019, 2018 and 2017</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">, 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_233bf1ebffbf4e1295a75ca30_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-161</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</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">

<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:8.0pt;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:avoid;text-align:justify;"><a name="XBRL_TS_11e84b89892d435e805b07813"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">54.&#160; &#160;Remuneration and other
benefits for the Board of Directors and members of the Bank's Senior Management</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;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 lang=EN-US style="font-size:9.0pt;">Remuneration received by non-executive directors in 2019</font></b></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:8.0pt;line-height:115%;">The
remunerations paid to non-executive members of the Board of Directors during
the 2019 financial year are indicated below, individualized and itemized:</font></font><a name="XBRL_TS_11e84b89892d435e805b07813_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_54_001_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td colspan=10 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Remuneration
  for non-executive directors (Thousands of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:45.75pt;">
  <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:45.75pt;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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:45.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Board of Directors</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:45.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Executive Committee</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:45.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Audit Committee </font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:45.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Risk and Compliance Committee</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:45.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Remunerations Committee </font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:45.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">Appointments and Corporate Governance Committee</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:45.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Technology and Cybersecurity Committee</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:45.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Other functions (1)</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:45.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=10% 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;">Tom&#225;s Alfaro Drake</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">129</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">43</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">43</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">214</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=10% style="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;">Jos&#233; Miguel Andr&#233;s
  Torrecillas </font></font></p>
  </td>
 <td width=10% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">129</font></font></p>
  </td>
 <td width=10% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">104</font></font></p>
  </td>
 <td width=10% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">107</font></font></p>
  </td>
 <td width=10% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">111</font></font></p>
  </td>
 <td width=10% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">33</font></font></p>
  </td>
 <td width=10% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">483</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=10% 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;">Jaime Caruana Lacorte
  </font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">129</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">167</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">110</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">107</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">14</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">527</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=10% 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;">Bel&#233;n Garijo L&#243;pez</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">129</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">68</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">107</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">45</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">348</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=10% 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;">Sunir Kumar Kapoor </font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">129</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">43</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">172</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=10% 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;">Carlos Loring
  Mart&#237;nez de Irujo</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">129</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">167</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">107</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">43</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">445</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=10% 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;">Lourdes M&#225;iz Carro</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">129</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">68</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">43</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">14</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">253</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=10% 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;">Jos&#233; Maldonado Ramos</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">129</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">167</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">45</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">340</font></font></p>
  </td>
 </tr>
<tr style="height:18.0pt;">
  <td width=10% 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;">Ana Peralta Moreno </font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">129</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">68</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">43</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 style="font-size:7.0pt;">240</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=10% 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;">Juan Pi Llorens </font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">129</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">24</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">214</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">31</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">43</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">53</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">493</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td width=10% style="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;">Susana Rodr&#237;guez
  Vidarte </font></font></p>
  </td>
 <td width=10% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">129</font></font></p>
  </td>
 <td width=10% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">167</font></font></p>
  </td>
 <td width=10% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">107</font></font></p>
  </td>
 <td width=10% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">45</font></font></p>
  </td>
 <td width=10% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td width=10% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">447</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=10% 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:7.0pt;">Jan Verplancke </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=right style="border:none;margin: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;">129</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=right style="border:none;margin: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;">-</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=right style="border:none;margin: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;">-</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=right style="border:none;margin: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;">-</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=right style="border:none;margin: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;">-</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=right style="border:none;margin: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;">-</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=right style="border:none;margin: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;">43</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=right style="border:none;margin: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;">-</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=right style="border:none;margin: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;">172</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">Total (2)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">1,545</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">667</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">442</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">642</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">278</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">289</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">186</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">87</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:7.0pt;">4,134</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;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_0fa7bb8271cc454b94f6372ff"></a><a name="XBRL_FS_14b8de567d7e4b41871952e6c"></a><a name="XBRL_FS_461a5d436d7e4c74974566194"></a><a name="XBRL_FS_223ed2c7e544430ab8b4d676d"></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%;">(1)&#160;&#160; Amounts
received during the 2019 financial year by Jos&#233; Miguel Andr&#233;s Torrecillas, in
his capacity as Deputy Chair of the Board of Directors, and by Juan Pi Llorens,
in his capacity as Lead Director, positions for which they were appointed by
resolution of the Board of Directors on 29 April 2019.</font></font><a name="XBRL_FS_14b8de567d7e4b41871952e6c_bclEnd"></a><a name="XBRL_FS_223ed2c7e544430ab8b4d676d_bclEnd"></a><a name="XBRL_FS_461a5d436d7e4c74974566194_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0pt;margin-top:6.0pt;text-align:justify;"><a name="XBRL_FS_0aefdc3ce4ef4d7b96378305d"></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%;">(2)&#160;&#160; This
includes the amounts corresponding to the position of member of the Board and
of the various committees during the 2019 financial year. By resolution of the
Board of Directors on 29 April 2019, the functions of some Board committees
were redistributed, and their associated remunerations adapted to these changes
in some cases.</font></font><a name="XBRL_FS_0aefdc3ce4ef4d7b96378305d_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:8.0pt;">Also, during
the 2019 financial year, &#8364;104 thousand have been paid out in casualty and
healthcare insurance premiums for non-executive members 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;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 lang=EN-US style="font-size:9.0pt;">Remuneration received by executive directors in 2019</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:8.0pt;">Over the
course of financial year 2019, the executive directors have received the amount
of the Annual Fixed Remuneration corresponding to said financial year,
established for each director in the Remuneration Policy for BBVA Directors,
which was approved by the General Meeting held on 15 March 2019.</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:8.0pt;">In addition,
the executive directors have received their Annual Variable Remuneration (AVR)
for the 2018 financial year, which, in accordance with the settlement and
payment system set out in the remuneration policy applicable to said year, was
due to be paid to them during the 2019 financial year.</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-162</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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: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:8.0pt;">In application of this settlement and payment
system:</font></font></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:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:8.0pt;">&#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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">40% of the 2018 Annual Variable Remuneration corresponding to
executive directors has been paid in the 2019 financial year (the &quot;Upfront
Portion&quot;); in equal parts in cash and BBVA shares.</font></font></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:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:8.0pt;">&#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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">The remaining 60% of the Annual Variable Remuneration has been
deferred (40% in cash and 60% in shares) 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
such amount be increased. Provided that the relevant conditions have been met,
the resulting amount will then be paid, in cash and in BBVA shares, according
to the following payment schedule: 60% in 2022, 20% in 2023 and the remaining
20% in 2024.</font></font></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:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:8.0pt;">&#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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">All the shares delivered to the executive directors as Annual
Variable Remuneration, both as part 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: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:8.0pt;">&#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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">The Deferred Portion of the Annual Variable Remuneration payable
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: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:8.0pt;">&#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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">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: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:8.0pt;">&#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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">The variable component of the remuneration for executive directors
corresponding to the 2018 financial year is limited to a maximum amount of 200%
of the fixed component of the total remuneration, as agreed by the General
Shareholders' Meeting held during that financial year.</font></font></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:-18.0pt;"><font face=Symbol style="border:none;"><font face=Symbol lang=EN-US style="font-size:8.0pt;">&#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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Over the entire deferral and withholding period, the Annual
Variable Remuneration for the executive directors will be subject to variable
remuneration reduction and recovery arrangements (malus and clawback).</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:8.0pt;">Additionally,
upon receipt of the shares, executive directors will not be allowed to transfer
a number 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: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:8.0pt;">Similarly,
in accordance with the Remuneration Policy for BBVA Directors applicable in
2015 and in application of the settlement and payment system of the Annual
Variable Remuneration for said financial year, the Group Executive Chairman and
the executive director Head of Global Economics &amp; Public Affairs
(&quot;Head of GE&amp;PA&quot;) have received in 2019 the deferred Annual
Variable Remuneration for the 2015 financial year, delivery of which was due
that year (50% of the Annual Variable Remuneration), after being adjusted
downwards following the result of the TSR indicator. This remuneration has been
paid in equal parts in cash and in shares, together with the corresponding
update in cash, thus concluding payment of the Annual Variable Remuneration to
the executive directors for the 2015 financial year.</font></font><a name="XBRL_TS_0fa7bb8271cc454b94f6372ff_bclEnd"></a></p>

<p style="border:none;margin:0cm;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_a4a94037bca34f37aae62ef8b"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">In accordance with the above,
the remunerations paid to executive directors during the 2019 financial year
are indicated below, individualized and itemized:</font></font><a name="XBRL_TS_a4a94037bca34f37aae62ef8b_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_54_002_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td colspan=3 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Annual Fixed
  Remuneration for 2019 (Thousands of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td colspan=2 width=60% 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 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=40% 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 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td colspan=2 width=60% 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:8.0pt;">Group Executive
  Chairman</font></font></p>
  </td>
 <td nowrap width=40% 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 style="font-size:8.0pt;">2,453</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td colspan=2 width=60% 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:8.0pt;">Chief Executive
  Officer </font></font></p>
  </td>
 <td nowrap width=40% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,179</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td colspan=2 width=60% 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;">Director de GE&amp;PA</font></font></p>
  </td>
 <td nowrap width=40% 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 style="font-size:8.0pt;">834</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=20% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=40% style="background:#5AC4C4;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=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=40% style="background:#5AC4C4;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 style="font-size:8.0pt;">5,466</font></b></font></p>
  </td>
 </tr>
<tr height=0>
  <td width=20% style="border:none;">&nbsp;</td>
 <td width=40% style="border:none;">&nbsp;</td>
 <td width=40% style="border:none;">&nbsp;</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_a643729cf85147d2ba113223e"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">In addition, in accordance
with the current Remuneration Policy for BBVA Directors, during the 2019
financial year, the Chief Executive Officer (</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:8.0pt;">Consejero
Delegado) has </font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">received the</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;"> corresponding amounts of fixed
remuneration for the concepts of cash in lieu of pension, given that he does
not have a retirement pension (see the Pension Commitments section of this
Note), and mobility allowance. The Bank therefore paid the Chief Executive
Officer the amount of &#8364;654 thousand and &#8364;506 thousand, respectively, for these
concepts during the 2019 financial year.</font></font><a name="XBRL_TS_a643729cf85147d2ba113223e_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><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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 title="F_I_54_003_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td colspan=3 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;text-align:justify;"><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">Annual Variable Remuneration for 2018 </font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td rowspan=2 width=43% 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: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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">In cash (1)</font></b></font></p>
  </td>
 <td rowspan=2 width=37% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">In shares (1)</font></b></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">(thousands of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=43% style="border:none;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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Group Executive Chairman </font></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">479</font></font></p>
  </td>
 <td nowrap width=37% 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 style="font-size:8.0pt;">100,436</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=43% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Chief Executive Officer (2)</font></font></p>
  </td>
 <td nowrap width=20% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">200</font></font></p>
  </td>
 <td nowrap width=37% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">41,267</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=43% 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;text-align:justify;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Head of GE&amp;PA </font></font></p>
  </td>
 <td nowrap width=20% 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 style="font-size:8.0pt;">79</font></font></p>
  </td>
 <td nowrap width=37% 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 style="font-size:8.0pt;">16,641</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=43% style="background:#5AC4C4;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 style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=20% style="background:#5AC4C4;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 style="font-size:8.0pt;">758</font></b></font></p>
  </td>
 <td nowrap width=37% style="background:#5AC4C4;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 style="font-size:8.0pt;">158,344</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:.0001pt;margin-top:6.0pt;text-align:justify;"><a name="XBRL_TS_c6c7093593d7467a97e83758e"></a><a name="XBRL_FS_98ee49bb68b443d5af75bb7f2"></a><a name="XBRL_FS_2211872b974440a3b0046bab0"></a><a name="XBRL_FS_0ca108215c3e47688596fadd2"></a><a name="XBRL_FS_4358786a76e3442692b3540ab"></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%;">(1)&#160;&#160; Remunerations
corresponding to the upfront portion (40%) of the AVR for the 2018 financial
year (50% paid in cash and 50% in BBVA shares). For the Group Executive
Chairman and Chief Executive Officer, these variable remunerations are linked
to their previous positions as Chief Executive Officer and President &amp; CEO
of BBVA&nbsp;USA, respectively.</font></font><a name="XBRL_FS_0ca108215c3e47688596fadd2_bclEnd"></a><a name="XBRL_FS_2211872b974440a3b0046bab0_bclEnd"></a><a name="XBRL_FS_4358786a76e3442692b3540ab_bclEnd"></a><a name="XBRL_FS_98ee49bb68b443d5af75bb7f2_bclEnd"></a></p>

<p style="border:none;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><a name="XBRL_FS_f8a90ac240344a368095040be"></a><a name="XBRL_FS_4c5ec3850065482cbae7db787"></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%;">(2)&#160;&#160; Remuneration
received in US dollars. Data in thousands of Euros is for information purposes.</font></font><a name="XBRL_FS_4c5ec3850065482cbae7db787_bclEnd"></a><a name="XBRL_FS_f8a90ac240344a368095040be_bclEnd"></a><a name="XBRL_TS_c6c7093593d7467a97e83758e_bclEnd"></a></p>

<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 style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_54_004_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td colspan=3 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Deferred
  Annual Variable Remuneration for 2015</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td rowspan=2 width=45% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">In cash (1)</font></b></font></p>
  </td>
 <td rowspan=2 width=36% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">In shares (1)</font></b></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">(thousands of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=45% 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:9.0pt;">Group Executive
  Chairman</font></font></p>
  </td>
 <td nowrap width=19% 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 style="font-size:9.0pt;">612</font></font></p>
  </td>
 <td nowrap width=36% 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 style="font-size:9.0pt;">79,157</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=45% 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:9.0pt;">Head of GE&amp;PA</font></font></p>
  </td>
 <td nowrap width=19% 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 style="font-size:9.0pt;">113</font></font></p>
  </td>
 <td nowrap width=36% 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 style="font-size:9.0pt;">14,667</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=45% style="background:#5AC4C4;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 style="font-size:9.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=19% style="background:#5AC4C4;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 style="font-size:9.0pt;">725</font></b></font></p>
  </td>
 <td nowrap width=36% style="background:#5AC4C4;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 style="font-size:9.0pt;">93,824</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_a7455860372c4caaa708f4730"></a><a name="XBRL_FS_4072c143716b4eddadcbba053"></a><a name="XBRL_FS_428610c4f4a34d359f2046bb7"></a><a name="XBRL_FS_922ab0674002457ea21e87da0"></a><a name="XBRL_FS_a14710b90fe44bdb80d296039"></a><a name="XBRL_FS_53fc576a21fc4de2b6e1b9460"></a><a name="XBRL_FS_1fe3a327f6704a1fbe7c5ab65"></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%;">(1)&#160;&#160; Remunerations
corresponding to deferred AVR for financial year 2015 (50% of the AVR for 2015,
in equal parts in cash and shares), payment of which was due in 2019, together
with its corresponding update in cash, and after its downward adjustment
following the result of the TSR indicator. For the Group Executive Chairman,
these variable remunerations relate to his previous position as Chief Executive
Officer.</font></font><a name="XBRL_FS_1fe3a327f6704a1fbe7c5ab65_bclEnd"></a><a name="XBRL_FS_4072c143716b4eddadcbba053_bclEnd"></a><a name="XBRL_FS_428610c4f4a34d359f2046bb7_bclEnd"></a><a name="XBRL_FS_53fc576a21fc4de2b6e1b9460_bclEnd"></a><a name="XBRL_FS_922ab0674002457ea21e87da0_bclEnd"></a><a name="XBRL_FS_a14710b90fe44bdb80d296039_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:8.0pt;">In addition,
the executive directors received remuneration in kind throughout financial year
2019, including insurance premiums and others, amounting to a total of &#8364;411
thousand, of which &#8364;184 thousand correspond to the Group Executive Chairman,
&#8364;144 thousand to the Chief Executive Officer and &#8364;83 thousand to the executive
director Head of GE&amp;PA.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;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 lang=EN-US style="font-size:9.0pt;">Remuneration received by Senior Management in 2019</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:8.0pt;">During the
2019 financial year, the members of Senior Management, excluding executive
directors, have received the amount of the Annual Fixed Remuneration
corresponding to that 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:8.0pt;">In addition,
they have received the Annual Variable Remuneration for financial year 2018,
which, in accordance with the settlement and payment system set out in the
remuneration policy applicable for said financial year, was due to be paid to
them during financial year 2019.</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:8.0pt;">Under this
settlement and payment system, the same rules as set out above for executive
directors are applicable. These include, among others: 40% of the Annual
Variable Remuneration, in equal parts in cash and in BBVA shares, will be paid
in the financial year following the year to which it corresponds (the
&quot;Upfront Portion&quot;), and the remaining 60% will be deferred (40% in
cash and 60% in shares) for a five-year period, with its accrual and payment
being subject to compliance with a series of multi-year indicators (the
&quot;Deferred Portion&quot;), applying the same payment schedule established
for executive directors. The shares received will be withheld for a period of
one year (this will not apply to those shares transferred to honour the payment
of taxes arising therefrom). Likewise, senior management may not use personal
hedging strategies or insurance in connection with the remuneration; the
variable component of the remuneration for Senior Management corresponding to
financial year 2018 will be limited to a maximum amount of 200% of the fixed
component of the total remuneration; and over the entire deferral and
withholding period, the Annual Variable Remuneration will be subject to
reduction and recovery (malus and clawback) 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:8.0pt;">Similarly,
in accordance with the remuneration policy applicable to the executive
directors in 2015 and in application of the settlement and payment system of
the Annual Variable Remuneration for said financial year, the members of the
Senior Management who were beneficiaries of such remuneration, have received in
2019 the deferred portion of the Annual Variable Remuneration for financial
year 2015, after being adjusted downwards following the result of the TSR
indicator, in equal parts in cash and in shares, along with its update in cash,
concluding the payment of this remuneration to the members of the 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-164</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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">

<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;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;">In accordance with the above, the remuneration
paid during the 2019 financial year to all members of the Senior Management as
a whole, who held that position as of 31 December 2019 (15 members), excluding
executive directors, is indicated below (itemized):</font></font><a name="XBRL_TS_a7455860372c4caaa708f4730_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_54_005_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td colspan=2 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Annual Fixed
  Remuneration for 2019 (thousands of Euros) </font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=73% 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 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=27% 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 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=73% 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:8.0pt;">Senior Management
  total</font></font></p>
  </td>
 <td nowrap width=27% 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 style="font-size:8.0pt;">13,883</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;"><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 title="F_I_54_006_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td colspan=3 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">Annual Variable
  Remuneration for 2018 </font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td rowspan=2 width=54% 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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=23% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">In cash </font></b></font></p>
  </td>
 <td rowspan=2 width=23% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">In shares </font></b></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td width=23% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">(thousands of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=54% 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:8.0pt;">Senior Management
  total</font></font></p>
  </td>
 <td nowrap width=23% 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 style="font-size:8.0pt;">887</font></font></p>
  </td>
 <td nowrap width=23% 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 style="font-size:8.0pt;">185,888</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:6.0pt;text-align:justify;"><a name="XBRL_FS_9284cbb972fb4e0e9e517c126"></a><a name="XBRL_FS_51ddd0975a4f4172a3f222b5e"></a><a name="XBRL_TS_e5d12b1c071945f2b6ac5fd5d"></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%;">(1)&#160;&#160; Remunerations
corresponding to the upfront portion (40%) of the AVR for financial year 2018
(paid 50% in cash and 50% in BBVA shares). For those members of the Senior
Management who were appointed by the Board of Directors on 20 December 2018 and
29 April, 30 July and 19 December 2019, this remuneration relates to their
previous positions.</font></font><a name="XBRL_FS_51ddd0975a4f4172a3f222b5e_bclEnd"></a><a name="XBRL_FS_9284cbb972fb4e0e9e517c126_bclEnd"></a><a name="XBRL_TS_e5d12b1c071945f2b6ac5fd5d_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_54_007_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td colspan=3 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">Annual Variable
  Remuneration for 2015 </font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td rowspan=2 width=56% 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:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=22% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">In cash </font></b></font></p>
  </td>
 <td rowspan=2 width=22% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">In shares </font></b></font></p>
  </td>
 </tr>
<tr style="height:23.25pt;">
  <td width=22% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">(thousands of Euros)</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:8.0pt;">Senior Management
  total</font></font></p>
  </td>
 <td nowrap width=22% 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 style="font-size:8.0pt;">1,263</font></font></p>
  </td>
 <td nowrap width=22% 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 style="font-size:8.0pt;">163,215</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:6.0pt;text-align:justify;"><a name="XBRL_TS_7ffe2a22bf4946abaca8cf909"></a><a name="XBRL_FS_19e7230d45284c2196bb8f5cc"></a><a name="XBRL_FS_7f9f8ad50c5b4e17ba3fff0ef"></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%;">(1)&#160;&#160;
Remunerations corresponding to deferred AVR for financial year 2015 (50% of the
AVR for 2015, in equal parts in cash and in shares), payment of which was due
in 2019, together with its corresponding update in cash, and after its downward
adjustment following the result of the TSR indicator.</font></font><a name="XBRL_FS_19e7230d45284c2196bb8f5cc_bclEnd"></a><a name="XBRL_FS_7f9f8ad50c5b4e17ba3fff0ef_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:8.0pt;">In addition,
all members of Senior Management, excluding executive directors, have received
remuneration in kind throughout the 2019 financial year, including insurance
premiums and others, amounting to a total of &#8364;769 thousand.</font></font><a name="XBRL_TS_7ffe2a22bf4946abaca8cf909_bclEnd"></a></p>

<p style="border:none;margin:0cm;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_249098dc25574cedb9d727f50"></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:9.0pt;">Remunerations
of executive directors due in 2020 and subsequent financial years</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-14.2pt;"><font color=#006EC1 face=Symbol style="border:none;"><font color=#006EC1 face=Symbol lang=EN-US style="font-size:8.0pt;">&#183;</font><font color=#006EC1 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:8.0pt;">Annual Variable Remuneration for executive directors
for the 2019 financial year</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top: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:8.0pt;">Following
year-end 2019, the Annual Variable Remuneration for executive directors
corresponding to said period has been determined, applying the conditions set
out in the Remuneration Policy for BBVA Directors approved by the General
Meeting on 15 March 2019. As in the previous financial year, the following
settlement and payment system applies to this remuneration:</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:8.0pt;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:8.0pt;line-height:normal;">The Upfront Portion (40% of the 2019 Annual Variable Remuneration)
will be paid, provided that the conditions are met, during the first quarter of
2020, in equal parts in cash and in shares, which amounts to &#8364;636 thousand and
126,470 BBVA shares in the case of the Group Executive Chairman; &#8364;571 thousand
and 113,492 BBVA shares in the case of the Chief Executive Officer and &#8364;75
thousand and 14,998 BBVA shares in the case of the Head of GE&amp;PA.</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:8.0pt;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:8.0pt;line-height:normal;">The remaining 60% of the 2019 Annual Variable Remuneration will be
deferred (40% in cash and 60% in shares) over a five-year period (Deferred
Portion), subject to compliance with the multi-year performance indicators
determined by the Board of Directors at the start of financial year 2019, which
may lead to a reduction in the Deferred Portion, even in its entirety, but in
no event may such amount be increased. These multi-year performance indicators
will be calculated over the first three years of deferral and, provided that
the relevant conditions have been met, the resulting amount will then be paid,
in cash and in BBVA shares, according to the following payment 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 set out in the Remuneration Policy for BBVA
Directors, which includes, among others, malus and clawback arrangements and
retention periods for the 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 face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">The amounts
corresponding to the deferred shares are detailed in the section &quot;Other
capital instruments &#8211; Remunerations based on Capital Instruments&quot; and the
cash part in &quot;Other Liabilities/Other Accruals&quot; in the consolidated
balance sheet as of 31 December 2019.</font></font></p>


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</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:0cm;margin-bottom:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-14.2pt;"><font color=#006EC1 face=Symbol style="border:none;"><font color=#006EC1 face=Symbol lang=EN-US style="font-size:8.0pt;">&#183;</font><font color=#006EC1 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:8.0pt;">Deferred Annual Variable Remuneration of executive
directors for financial year 2016</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:8.0pt;">Following
year-end 2019, the deferred Annual Variable Remuneration of executive directors
for financial year 2016</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;"> &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">(50%) has
been determined, with delivery, if conditions are met, during financial year
2020, subject to the conditions established for this purpose in the
remuneration policy applicable in that 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:8.0pt;">Thus, based
on the result of each of the multi-year performance indicators set by the Board
in 2016 to calculate the deferred portion of this remuneration, and in
application of the relevant scales of achievement and their corresponding targets
and weightings, the final amount of the deferred Annual Variable Remuneration
for financial year 2016 has been determined, following the corresponding
downward adjustment as a consequence of the result of the TSR indicator. As a
result, such remuneration, including the corresponding updates, has been
determined in an amount of &#8364;656 thousand and 89,158 BBVA shares in the case of
the Group Executive Chairman; &#8364;204 thousand and 31,086 BBVA shares in the case
of the Chief Executive Officer; and &#8364;98 thousand and 13,355 BBVA shares in the
case of the Head of GE&amp;PA. With these amounts paid, there will be no more
outstanding payments due to the executive directors in respect of Annual
Variable Remuneration for the 2016 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:8.0pt;">Lastly, as
at year-end 2019, in addition to the abovementioned Deferred Portion of the
Annual Variable Remuneration of the executive directors for financial year 2019
and in accordance with the conditions established in the remuneration policies
applicable in previous years, 60% of the Annual Variable Remuneration
corresponding to financial years 2017 and 2018 has been deferred and is pending
payment&#160; to the executive directors and will be received in future years, if
the applicable conditions are met.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;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 lang=EN-US style="font-size:9.0pt;">Remunerations of Senior Management due in 2020 and subsequent
financial years</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-14.2pt;"><font color=#006EC1 face=Symbol style="border:none;"><font color=#006EC1 face=Symbol lang=EN-US style="font-size:8.0pt;">&#183;</font><font color=#006EC1 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:8.0pt;">Annual Variable Remuneration of Senior Management
for financial year 2019</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:8.0pt;">Following
year-end 2019, the Annual Variable Remuneration of Senior Management
corresponding to said financial</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;"> &nbsp;</font></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">year has
been determined (15 members as of 31 December 2019, excluding executive
directors). The Annual Variable Remuneration for all members of the Senior
Management, excluding executive directors, has been determined to be a combined
total amount of &#8364;6,363 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:8.0pt;">The 2019
Annual Variable Remuneration for each member of Senior Management will be paid,
in the first quarter of 2020, in accordance with the settlement and payment
system applicable in each case and in accordance with the provisions of the
BBVA Group's Remuneration Policy, if the applicable conditions are met, in an
amount equal to &#8364;1,291 thousand and 257,907 BBVA shares (Upfront Portion). The
remaining amount will be deferred and subject to the remaining conditions of
the settlement and payment system of the applicable Annual Variable
Remuneration.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:14.2pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-14.2pt;"><font color=#006EC1 face=Symbol style="border:none;"><font color=#006EC1 face=Symbol lang=EN-US style="font-size:8.0pt;">&#183;</font><font color=#006EC1 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:8.0pt;">Determination of the Deferred Annual Variable
Remuneration of Senior Management for financial year 2016</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:8.0pt;">Following
year-end 2019, the deferred Annual Variable Remuneration of Senior Management
(15 members as of 31 December 2019, excluding executive directors) for
financial year 2016 has been determined, with delivery, if conditions are met,
taking place during financial year 2020, subject to the conditions established
for this purpose in the applicable remuneration policy.</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:8.0pt;">Thus, based
on the result of each of the multi-year performance indicators set by the Board
in 2016 to calculate the deferred portion of this remuneration, and in
application of the relevant scales of achievement and their corresponding
targets and weightings, the final amount of the deferred portion of the Annual
Variable Remuneration for members of the Senior Management for financial year
2016 has been determined, following the corresponding downward adjustment as a
consequence of the result of the TSR indicator. The combined total amount,
excluding executive directors, has been determined to be &#8364;1,277 thousand and
196,899 BBVA shares, including the corresponding updates. With these amounts
paid, there will be no more outstanding payments due to the Senior Management
in respect of the Annual Variable Remuneration for the 2016 financial year.</font></font><a name="XBRL_TS_249098dc25574cedb9d727f50_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_7fa3d3d73d8447f89b92f1fb1"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Lastly, in addition to the
abovementioned Deferred Portion of the Annual Variable Remuneration for
financial year 2019, as at year-end 2019 and in accordance with the conditions
established in the remuneration policies applicable in previous years, 60% of
the Annual Variable Remuneration corresponding to financial years 2017 and 2018
has been deferred and is pending payment to the members of the Senior
Management and will be received in future years if the applicable conditions
are met.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;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 lang=EN-US style="font-size:9.0pt;">Remuneration system with deferred delivery of shares for
non-executive directors</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:8.0pt;">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 Meetings held on 11 March
2011 and 11 March 2016 for an additional period of five years in each case.</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-166</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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: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:8.0pt;">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 by each of them in the previous financial year.
This is calculated according to the average closing prices of BBVA shares
during the 60 trading sessions prior to the dates of the Annual General
Shareholders' Meetings that approve the corresponding annual 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:8.0pt;">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;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;">The
&quot;theoretical shares&quot; allocated to non-executive directors who are
beneficiaries of the remuneration system in shares with deferred delivery in
financial year 2019, corresponding to 20% of the total remuneration in cash
received by each of them in financial year 2018, are as follows:</font></font><a name="XBRL_TS_7fa3d3d73d8447f89b92f1fb1_bclEnd"></a></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_54_008_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:34.5pt;">
  <td width=46% style="height:34.5pt;padding:0cm 0cm 0cm 0cm;">
  <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:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=27% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top: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=#244061 face=Arial,sans-serif style="border:none;"><b><font color=#244061 face=Arial,sans-serif style="font-size:8.0pt;">Theoretical shares allocated in 2019</font></b></font></p>
  </td>
 <td width=27% style="border-bottom:solid black 1.0pt;border-left:none;border-right:none;border-top: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=#244061 face=Arial,sans-serif style="border:none;"><b><font color=#244061 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Theoretical shares accumulated as at 31 December 2019</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=46% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">Tom&#225;s Alfaro Drake</font></font></p>
  </td>
 <td nowrap width=27% 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 style="font-size:9.0pt;">10,138</font></font></p>
  </td>
 <td nowrap width=27% 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 style="font-size:9.0pt;">93,587</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=46% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">Jos&#233; Miguel Andr&#233;s Torrecillas</font></font></p>
  </td>
 <td nowrap width=27% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:9.0pt;">19,095</font></font></p>
  </td>
 <td nowrap width=27% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:9.0pt;">55,660</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=46% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">Jaime Caruana Lacorte</font></font></p>
  </td>
 <td nowrap width=27% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:9.0pt;">9,320</font></font></p>
  </td>
 <td nowrap width=27% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:9.0pt;">9,320</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=46% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">Bel&#233;n Garijo L&#243;pez</font></font></p>
  </td>
 <td nowrap width=27% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:9.0pt;">12,887</font></font></p>
  </td>
 <td nowrap width=27% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:9.0pt;">47,528</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=46% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">Sunir Kumar Kapoor</font></font></p>
  </td>
 <td nowrap width=27% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:9.0pt;">6,750</font></font></p>
  </td>
 <td nowrap width=27% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:9.0pt;">15,726</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=46% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">Carlos Loring Mart&#237;nez de Irujo</font></font></p>
  </td>
 <td nowrap width=27% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:9.0pt;">17,515</font></font></p>
  </td>
 <td nowrap width=27% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:9.0pt;">116,391</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=46% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">Lourdes M&#225;iz Carro</font></font></p>
  </td>
 <td nowrap width=27% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:9.0pt;">11,160</font></font></p>
  </td>
 <td nowrap width=27% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:9.0pt;">34,320</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=46% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">Jos&#233; Maldonado Ramos</font></font></p>
  </td>
 <td nowrap width=27% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:9.0pt;">15,328</font></font></p>
  </td>
 <td nowrap width=27% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:9.0pt;">94,323</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=46% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">Ana Peralta Moreno</font></font></p>
  </td>
 <td nowrap width=27% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:9.0pt;">5,624</font></font></p>
  </td>
 <td nowrap width=27% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:9.0pt;">5,624</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=46% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">Juan Pi Llorens</font></font></p>
  </td>
 <td nowrap width=27% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:9.0pt;">17,970</font></font></p>
  </td>
 <td nowrap width=27% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:9.0pt;">72,141</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=46% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">Susana Rodr&#237;guez Vidarte</font></font></p>
  </td>
 <td nowrap width=27% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:9.0pt;">17,431</font></font></p>
  </td>
 <td nowrap width=27% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:9.0pt;">122,414</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=46% 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;text-align:justify;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:9.0pt;">Jan Verplancke</font></font></p>
  </td>
 <td nowrap width=27% 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 style="font-size:9.0pt;">5,203</font></font></p>
  </td>
 <td nowrap width=27% 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 style="font-size:9.0pt;">5,203</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=46% style="background:#5AC4C4;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;text-align:justify;"><font color=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=27% style="background:#5AC4C4;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 style="font-size:8.0pt;">148,421</font></b></font></p>
  </td>
 <td nowrap width=27% style="background:#5AC4C4;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 style="font-size:8.0pt;">672,237</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;page-break-after:avoid;text-align:justify;"><a name="XBRL_TS_51343d0181494b7d87a7c9807"></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:9.0pt;">Pension
commitments with directors and Senior Management</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:8.0pt;line-height:115%;">The Bank has not
made pension commitments with non-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:8.0pt;line-height:115%;">With regard to the
Group Executive Chairman, the Remuneration Policy for BBVA Directors
establishes a pension framework whereby he is eligible, provided that he does
not leave his position as a result of a serious breach of duties, to receive a
retirement pension, paid in either income or capital, when he reaches the
legally established retirement age. The amount of this pension will be
determined by the annual contributions made by the Bank, together with their
corresponding accumulated yields as of that date.</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:8.0pt;line-height:115%;">The annual contribution to cover
the retirement contingency in the Group Executive Chairman's
defined-contribution system, as established in the Remuneration Policy for BBVA
Directors, was determined as a result of the conversion of his previous
defined-benefit rights into a defined-contribution system, in the annual amount
of &#8364;1,642 thousand. The Board of Directors may update this amount during the
term of the Policy, in the same way and under the same terms as it may update
the Annual Fixed 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:8.0pt;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 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:8.0pt;line-height:115%;">In the event the
contractual relationship terminates before reaching retirement age for reasons
other than serious breach of duties, the retirement pension due to the Group
Executive Chairman upon reaching the legally established retirement age will be
calculated based on the funds accumulated through the 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 in
any event 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:8.0pt;line-height:115%;">With respect to
the commitments to cover the contingencies for death and disability benefits
for the Group Executive Chairman, the Bank will undertake the payment of the
corresponding annual insurance premiums in order to top up the coverage of
these contingencies.</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:8.0pt;line-height:115%;">In line with the
above, during the 2019 financial year, &#8364;1,919 thousand were recorded to meet
the pension commitments for the Chairman. This amount includes the contribution
to the retirement contingency (&#8364;1,642 thousand) and the payment of premiums for
the death and disability contingencies (&#8364;278 thousand), as well as the negative
adjustment of &#8364;1 thousand for &#8220;discretionary pension benefits&#8221; for the 2018
financial year, which were declared at 2018 year-end and had to be registered
in the accumulated fund in 2019.</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-167</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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:8.0pt;line-height:115%;">As of 31
December 2019, the total accumulated amount of the fund to meet the retirement
commitments for the Group Executive Chairman was &#8364;21,582 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:8.0pt;line-height:115%;">With regard to the
agreed annual contribution to the retirement contingency corresponding to the
2019 financial year, 15% (&#8364;246 thousand) has been registered in that financial
year as &quot;discretionary pension benefits&quot;. Following year-end 2019,
this amount has been adjusted according to the criteria established to
determine the Group Executive Chairman's Annual Variable Remuneration for 2019.
Accordingly, the &quot;discretionary pension benefits&quot; for the 2019
financial year have been determined in an amount of &#8364;261 thousand, which will
be included in the accumulated fund for financial year 2020, subject to the
same conditions as the Deferred Portion of the Annual Variable Remuneration for
financial year 2019, as well as to the remaining conditions established for
these benefits in the Remuneration Policy for BBVA Directors.</font></font><a name="XBRL_TS_51343d0181494b7d87a7c9807_bclEnd"></a></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><a name="XBRL_TS_9e29f4124ef54a9281c7e28e9"></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%;">With regard
to the Chief Executive Officer, in accordance with the provisions of the
current Remuneration Policy for BBVA Directors and his contract, the Bank has
not made any retirement commitments, although he is entitled to an annual cash
sum instead of a retirement pension (cash in lieu of pension), equivalent to
30% of his Annual Fixed Remuneration. The Bank has also made pension
commitments to cover the death and disability contingencies, for which purpose
the corresponding annual insurance premiums will be paid.</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:8.0pt;line-height:115%;">In accordance with the above, in
the 2019 financial year the Bank has paid the Chief Executive Officer the
amount of fixed remuneration as cash in lieu of pension set out in the
&#8220;Remuneration received by executive directors in 2019&#8221; section of this Note.
Furthermore, &#8364;141 thousand were recorded for the payment of the annual insurance
premiums to cover the death and disability contingencies.</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:8.0pt;line-height:115%;">For the executive
director Head of GE&amp;PA, the pension system provided for in the Remuneration
Policy for BBVA Directors establishes an annual contribution of 30% of the Head
of GE&amp;PA's Annual Fixed Remuneration to cover the retirement contingency.
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 the
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:8.0pt;line-height:115%;">The executive
director Head of GE&amp;PA, 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 the executive
director Head of GE&amp;PA does not leave said position due to serious breach
of duties. In the event of voluntary termination of the 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, together with the
corresponding accumulated yield, with no additional contributions to be made by
the Bank in any event upon termination of the contractual relationship.</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:8.0pt;line-height:115%;">With respect to
the commitments to cover the contingencies for death and disability benefits
for the executive director Head of GE&amp;PA, the Bank will undertake the
payment of the corresponding annual insurance premiums in order to top up the
coverage under their pension 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:8.0pt;line-height:115%;">In line with the
above, during the 2019 financial year, &#8364;404 thousand have been recorded to meet
the pension commitments for the executive director Head of GE&amp;PA. This
amount includes the contribution to the retirement contingency (&#8364;250 thousand)
and the payment of premiums to cover the death and disability contingencies (&#8364;150
thousand), as well as &#8364;4 thousand corresponding to the adjustment made to the
amount of &quot;discretionary pension benefits&quot; for financial year 2018,
as declared at 2018 year-end and which had to be registered in the accumulated
fund in 2019.</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:8.0pt;line-height:115%;">As of 31 December
2019, the total accumulated amount of the fund to meet the retirement
commitments for the executive director Head of GE&amp;PA amounts to &#8364;1,404
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:8.0pt;line-height:115%;">With regard to the
annual contribution agreed for the retirement contingency, 15% (&#8364;38 thousand) has
been registered in 2019 as &quot;discretionary pension benefits&quot; and,
following year-end 2019, this amount has been adjusted according to the
criteria established to determine the executive director Head of GE&amp;PA's
Annual Variable Remuneration for 2019. Accordingly, the &quot;discretionary
pension benefits&quot; for the financial year have been determined in an amount
of &#8364;40 thousand, which will be included in the accumulated fund for financial
year 2020, subject to the same conditions as the Deferred Portion of the Annual
Variable Remuneration for financial year 2019, 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:8.0pt;line-height:115%;">In addition, during the 2019
financial year, &#8364;3,281 thousand have been recorded to meet the pension
commitments for members of the Senior Management (15 members holding that
position as of 31 December 2019, excluding executive directors). This amount
includes both the contribution to the retirement contingency (&#8364;2,656 thousand)
and the payment of premiums to cover the death and disability contingencies
(&#8364;627 thousand), as well as the negative adjustment of &#8364;2 thousand for
&#8220;discretionary pension benefits&#8221; for the 2018 financial year, as declared at
2018 year-end, and which had to be registered in the accumulated fund in 2019.</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:8.0pt;line-height:115%;">At 31 December
2019, the total accumulated amount of the fund to meet the retirement
commitments for members of the Senior Management amounts to &#8364;20,287 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:8.0pt;line-height:115%;">15% of the agreed
annual contributions for members of the Senior Management to cover retirement
contingencies 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 the Senior Management.</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-168</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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:8.0pt;line-height:115%;">Accordingly, with regard to the agreed annual contribution for the
retirement contingency registered in the 2019 financial year, an amount of &#8364;389
thousand has been registered as &quot;discretionary pension benefits&quot;
during the 2019 financial year and, following year-end 2019, this amount has
been adjusted according to the same criteria established to determine the
Senior Management's Annual Variable Remuneration for 2019. Accordingly, the
&quot;discretionary pension benefits&quot; for members of the Senior Management
for the financial year have been determined in an amount of &#8364;402 thousand,
which will be included in the accumulated fund for financial year 2020, subject
to the same conditions as the Deferred Portion of Annual Variable Remuneration
for financial year 2019, 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;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 lang=EN-US style="font-size:9.0pt;">Payments for the 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:8.0pt;line-height:115%;">In accordance with
the Remuneration Policy for BBVA Directors, the Bank has no commitments
regarding severance payments to executive directors.</font></font><a name="XBRL_TS_9e29f4124ef54a9281c7e28e9_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_a30277171f334d659bb1ad27b"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">With regard to Senior
Management, excluding executive directors, the Bank has paid out a total of
&#8364;8,368 thousand during financial year 2019, resulting from the termination of
the contractual relationship with four senior managers with an average length
of service in the Group of 25 years, in execution of their contracts. These
contracts include the right to receive the relevant legal indemnity, provided
that termination of their contract is not due to voluntary leave, retirement, disability
or serious breach of their duties. The amount of this pay will be calculated in
accordance with the provisions of applicable labor regulations. In some cases,
the contracts also include the right to an amount additional to the legal
indemnity, which will be considered variable remuneration in accordance with
the solvency regulations that apply to this group, as well as notice clauses.</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:8.0pt;line-height:115%;">In line with the
above, as of 31 December 2019, &#8364;1,199 thousand is pending payment and will be
paid, if conditions are met, in accordance with the same schedule and
regulations of the settlement and payment system applicable to the Annual
Variable Remuneration for financial year 2019, as established in the
remuneration policy applicable to the members of 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:8.0pt;line-height:115%;">All these payments comply with the
conditions set out in the regulations applicable to the group of employees with
a material impact on the Group's risk profile, to which senior managers belong.</font></font><a name="XBRL_TS_a30277171f334d659bb1ad27b_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_f275cb85a1d44883965a82eac"></a><a name="_Toc331691329"></a><a name="_Toc376950031"></a><a name="_Toc284233789"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">55. <a name="_Toc457490062"></a><a name="_Toc474142341"></a><a name="_Toc481589117"></a><a name="_Toc495478169"></a><a name="_Toc505355988"></a>&#160;&#160;Other information</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:0cm;"><a name="_Toc376950029"></a><a name="_Toc376972437"></a><a name="_Toc474142343"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Environmental
impact</font></b></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:8.0pt;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, 2019, there is no item included that requires
disclosure in an environmental information report pursuant to Ministry
JUS/318/2018, of March 21, by which the new model for the presentation in the
Commercial Register of the consolidated annual accounts of the subjects obliged
to its publication is approved.</font></font><a name="XBRL_TS_f275cb85a1d44883965a82eac_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;text-indent:0cm;"><a name="XBRL_TS_68863fb8f453482bb94d09dfb"></a><font face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;">56.&#160;&#160; Subsequent events</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">On January 31, 2020 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 2020
as final dividend for 2019 (see Note 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 style="font-size:8.0pt;line-height:115%;">From January 1,
2020 to the date of preparation of these consolidated financial statements, no
other subsequent events not mentioned above in these financial statements have
taken place that could significantly affect the Group&#8217;s earnings or its equity
position.</font></font><a name="XBRL_TS_68863fb8f453482bb94d09dfb_bclEnd"></a><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN 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;"><font style="border:none;"><font face="Times New Roman,serif" lang=EN style="font-size:10.0pt;line-height:115%;">&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;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:115%;"></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>

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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;"><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 align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;"><font color=#0070C0 face=Arial,sans-serif style="border:none;"><img border=0 height=151 id="Imagen 1" src="d20f2019x409x0.jpg" width=435></font>&nbsp;</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%;">&nbsp;</font></b></font></p>

<p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:center;"><font color=#004580 style="border:none;"><b><font color=#004580 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:avoid;text-align:justify;"><a name="_Toc505355993"></a><a name="_Toc505355991"></a><a name="_Toc495478172"></a><a name="_Toc481589120"></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-170</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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;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:11.0pt;">APPENDIX I.
Additional information on subsidiaries and structured entities composing the
BBVA Group</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexos.I.IV_I.1_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=27% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">% share of participation (**)&#160;&#160; </font></b></font></p>
  </td>
 <td colspan=3 width=25% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Millions of Euros (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=25% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Affiliate entity data</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Company</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Location</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Activity</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Direct</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Indirect</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Total</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Equity excluding profit (loss)</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">31.12.19</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">31.12.19</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">ACTIVOS MACORP SL</font></font></p>
  </td>
 <td nowrap width=13% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% 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;">REAL ESTATE</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 style="font-size:6.0pt;">50.63 </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 style="font-size:6.0pt;">49.37 </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 style="font-size:6.0pt;">100.00 </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 style="font-size:6.0pt;">21 </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 style="font-size:6.0pt;">21 </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 style="font-size:6.0pt;">1 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">ALCALA 120 PROMOC. Y
  GEST.IMMOB. S.L.</font></font></p>
  </td>
 <td nowrap width=13% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">1 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">ANIDA GRUPO
  INMOBILIARIO SL</font></font></p>
  </td>
 <td nowrap width=13% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% 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;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,538 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,625 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(73)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">ANIDA INMOBILIARIA,
  S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=13% 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;">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 nowrap width=16% 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;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">99 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:6.0pt;">9 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">ANIDA OPERACIONES
  SINGULARES, S.A.</font></font></p>
  </td>
 <td nowrap width=13% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,444 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,504 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(57)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">ANIDA PROYECTOS
  INMOBILIARIOS, S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=13% 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;">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 nowrap width=16% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 style="font-size:6.0pt;">1 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">ANIDAPORT
  INVESTIMENTOS IMOBILIARIOS, UNIPESSOAL, LTDA</font></font></p>
  </td>
 <td nowrap width=13% 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;">PORTUGAL&#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 nowrap width=16% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">27 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">8 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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=EN-US style="font-size:6.0pt;">ANTHEMIS BBVA
  VENTURE PARTNERSHIP LLP</font></font></p>
  </td>
 <td nowrap width=13% 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;">UNITED KINGDOM</font></font></p>
  </td>
 <td nowrap width=16% 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;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">APLICA NEXTGEN
  OPERADORA S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=13% 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;">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 nowrap width=16% 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;">SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(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 style="font-size:6.0pt;">4 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">APLICA NEXTGEN
  SERVICIOS S.A. DE C.V</font></font></p>
  </td>
 <td nowrap width=13% 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;">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 nowrap width=16% 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;">SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">APLICA TECNOLOGIA
  AVANZADA SA DE CV</font></font></p>
  </td>
 <td nowrap width=13% 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;">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 nowrap width=16% 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;">SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">203 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">219 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">8 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">ARIZONA FINANCIAL
  PRODUCTS, INC</font></font></p>
  </td>
 <td nowrap width=13% 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;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% 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;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">872 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">872 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">ARRAHONA AMBIT, S.L.</font></font></p>
  </td>
 <td nowrap width=13% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 style="font-size:6.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">ARRAHONA IMMO, S.L.</font></font></p>
  </td>
 <td nowrap width=13% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:6.0pt;">114 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">ARRAHONA NEXUS, S.L.</font></font></p>
  </td>
 <td nowrap width=13% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:6.0pt;">64 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">ARRAHONA RENT, S.L.U.</font></font></p>
  </td>
 <td nowrap width=13% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">9 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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=EN-US style="font-size:6.0pt;">ARRELS CT
  FINSOL, S.A.</font></font></p>
  </td>
 <td nowrap width=13% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">64 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">79 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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=EN-US style="font-size:6.0pt;">ARRELS CT
  LLOGUER, S.A.</font></font></p>
  </td>
 <td nowrap width=13% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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=EN-US style="font-size:6.0pt;">ARRELS CT
  PATRIMONI I PROJECTES, S.A.</font></font></p>
  </td>
 <td nowrap width=13% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">22 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">ARRELS CT PROMOU SA</font></font></p>
  </td>
 <td nowrap width=13% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:6.0pt;">37 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(4)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">AZLO BUSINESS, INC</font></font></p>
  </td>
 <td nowrap width=13% 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;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% 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;">SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 style="font-size:6.0pt;">(14)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">BAHIA SUR RESORT S.C.</font></font></p>
  </td>
 <td nowrap width=13% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% 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;">INACTIVE</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">99.95 </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 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 style="font-size:6.0pt;">99.95 </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 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 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">BANCO BBVA ARGENTINA
  S.A.</font></font></p>
  </td>
 <td nowrap width=13% 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;">ARGENTINA</font></font></p>
  </td>
 <td nowrap width=16% 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;">BANKING</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">39.97 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">26.58 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">66.55 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">157 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">963 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">214 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">BANCO BILBAO VIZCAYA
  ARGENTARIA URUGUAY SA</font></font></p>
  </td>
 <td nowrap width=13% 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;">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 nowrap width=16% 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;">BANKING</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">110 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">164 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">41 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">BANCO INDUSTRIAL DE
  BILBAO SA</font></font></p>
  </td>
 <td nowrap width=13% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% 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;">BANKING</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">99.93 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">99.93 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">47 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">45 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">BANCO OCCIDENTAL SA</font></font></p>
  </td>
 <td nowrap width=13% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% 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;">BANKING</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">49.43 </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 style="font-size:6.0pt;">50.57 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">BANCO PROVINCIAL OVERSEAS
  NV</font></font></p>
  </td>
 <td nowrap width=13% 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;">CURA&#199;AO</font></font></p>
  </td>
 <td nowrap width=16% 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;">BANKING</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">51 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">45 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">6 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">BANCO PROVINCIAL SA -
  BANCO UNIVERSAL</font></font></p>
  </td>
 <td nowrap width=13% 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;">VENEZUELA</font></font></p>
  </td>
 <td nowrap width=16% 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;">BANKING</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1.46 </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 style="font-size:6.0pt;">53.75 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">55.21 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">36 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">132 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(7)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">BBV AMERICA SL</font></font></p>
  </td>
 <td nowrap width=13% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% 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;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">79 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:6.0pt;">16 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">BBVA (SUIZA) SA</font></font></p>
  </td>
 <td nowrap width=13% 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;">SWITZERLAND</font></font></p>
  </td>
 <td nowrap width=16% 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;">BANKING</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:6.0pt;">114 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">7 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">BBVA AGENCIA DE
  SEGUROS COLOMBIA LTDA</font></font></p>
  </td>
 <td nowrap width=13% 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;">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 nowrap width=16% 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;">INSURANCES SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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=EN-US style="font-size:6.0pt;">BBVA ASSET
  MANAGEMENT SA SAF</font></font></p>
  </td>
 <td nowrap width=13% 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;">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 nowrap width=16% 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;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 style="font-size:6.0pt;">4 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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=EN-US style="font-size:6.0pt;">BBVA ASSET
  MANAGEMENT SA SGIIC</font></font></p>
  </td>
 <td nowrap width=13% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% 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;">OTHER INVESTMENT
  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 style="font-size:6.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:6.0pt;">(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 style="font-size:6.0pt;">114 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">BBVA ASSET MANAGEMENT
  SA SOCIEDAD FIDUCIARIA (BBVA FIDUCIARIA)</font></font></p>
  </td>
 <td nowrap width=13% 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;">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 nowrap width=16% 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;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">10 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">BBVA AUTOMERCANTIL
  COMERCIO E ALUGER DE VEICULOS AUTOMOVEIS LDA.</font></font></p>
  </td>
 <td nowrap width=13% 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;">PORTUGAL&#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 nowrap width=16% 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;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">1 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">BBVA BANCO
  CONTINENTAL SA (1)</font></font></p>
  </td>
 <td nowrap width=13% 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;">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 nowrap width=16% 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;">BANKING</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">46.12 </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 style="font-size:6.0pt;">46.12 </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 style="font-size:6.0pt;">1,139 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,041 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">439 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">BBVA BANCOMER
  GESTION, S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=13% 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;">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 nowrap width=16% 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;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 style="font-size:6.0pt;">8 </font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:3.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;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:6.0pt;line-height:115%;">(*)&#160;&#160; Amount without considering
the interim dividends of the year, according to the provisional financial
statements of each company, generally as of December 31, 2019. In the carrying
amount (net of provision), the Group&#180;s ownership percentage has been applied,
without considering the impairment of goodwill. Information on foreign
companies at exchange rate as of December 31, 2019.</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:6.0pt;line-height:115%;">(**)&#160; In accordance with&#160; Article 3
of Royal Decree 1159/2010, of September 17, in order to determine the state,
the voting power relating to subsidiaries was added to the voting power
directly held by the parent. Therefore, the number of votes corresponding to
the parent company (including indirect control subsidiaries), corresponds to
each subsidiary holding a direct ownership interest.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;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:6.0pt;line-height:115%;">(1) Full consolidation method is used according to accounting
rules (see Glossary)&nbsp;</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;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-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=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">Additional information on
subsidiaries and structured entities composing the BBVA Group (Continued)</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexos.I.IV_I.2_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:14.25pt;">
  <td width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=27% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">% share of participation (**)&#160;&#160; </font></b></font></p>
  </td>
 <td colspan=3 width=25% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Millions of Euros (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=25% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Affiliate entity data</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Company</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Location</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Activity</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Direct</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Indirect</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Total</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Equity excluding profit (loss)</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">31.12.19</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">31.12.19</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% 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:6.0pt;">BBVA BANCOMER
  OPERADORA SA DE CV</font></font></p>
  </td>
 <td nowrap width=13% 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: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 nowrap 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 style="font-size:6.0pt;">SERVICES</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 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 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=right style="border:none;margin: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;">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=right style="border:none;margin: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;">21 </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 style="font-size:6.0pt;">4 </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 style="font-size:6.0pt;">23 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 BANCOMER SA
  INSTITUCION DE BANCA MULTIPLE GRUPO FINANCIERO BBVA BANCOMER</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">10,124 </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 style="font-size:6.0pt;">7,549 </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 style="font-size:6.0pt;">2,244 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 BANCOMER SEGUROS
  SALUD SA DE CV</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 BANCOMER
  SERVICIOS ADMINISTRATIVOS, S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">50 </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 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=right style="border:none;margin: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;">18 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 BOLSA SOCIEDAD
  AGENTE DE BOLSA S.A.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">1 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 BRASIL BANCO DE
  INVESTIMENTO SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BRAZIL</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">16 </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 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=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 BROKER
  CORREDURIA DE SEGUROS Y REASEGUROS SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 style="font-size:6.0pt;">99.94 </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 style="font-size:6.0pt;">0.06 </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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">5 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 BROKER SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">ARGENTINA</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 style="font-size:6.0pt;">99.96 </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 style="font-size:6.0pt;">99.96 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">4 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 COLOMBIA SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 style="font-size:6.0pt;">77.41 </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 style="font-size:6.0pt;">18.06 </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 style="font-size:6.0pt;">95.47 </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 style="font-size:6.0pt;">355 </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 style="font-size:6.0pt;">1,186 </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 style="font-size:6.0pt;">229 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 CONSOLIDAR
  SEGUROS SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">ARGENTINA</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 style="font-size:6.0pt;">87.78 </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 style="font-size:6.0pt;">12.22 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">12 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 CONSULTING (
  BEIJING) LIMITED</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CHINA</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 CONSUMER FINANCE
  ENTIDAD DE DESARROLLO A LA PEQUE&#209;A Y MICRO EMPRESA EDPYME SA (BBVA CONSUMER
  FINANCE - EDPYME)</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">20 </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 style="font-size:6.0pt;">5 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 DATA &amp;
  ANALYTICS SL</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=19% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 DISTRIBUIDORA DE
  SEGUROS S.R.L.</font></font></p>
  </td>
 <td nowrap width=13% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 SERVICES</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">100.00 </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 style="font-size:6.0pt;">100.00 </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 style="font-size:6.0pt;">5 </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 style="font-size:6.0pt;">3 </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 style="font-size:6.0pt;">2 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 FINANCIAL
  CORPORATION</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">227 </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 style="font-size:6.0pt;">2 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 FINANZIA SPA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">ITALY</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 LIQUIDATION</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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">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 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=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 FOREIGN EXCHANGE
  INC.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">17 </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 style="font-size:6.0pt;">5 </font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td width=19% 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 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 nowrap width=13% 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 style="font-size:6.0pt;">ARGENTINA</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">14 </font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">11 </font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">2 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 FUNDOS S.GESTORA
  FUNDOS PENSOES SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PORTUGAL&#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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PENSION FUNDS
  MANAGEMENT</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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">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 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=right style="border:none;margin: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;">2 </font></font></p>
  </td>
 </tr>
<tr style="height:14.1pt;">
  <td width=19% 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 GLOBAL FINANCE
  LTD</font></font></p>
  </td>
 <td nowrap width=13% 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;">CAYMAN ISLANDS</font></font></p>
  </td>
 <td nowrap width=16% 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;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">5 </font></font></p>
  </td>
 <td nowrap width=8% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 GLOBAL MARKETS
  BV</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">NETHERLANDS</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 HOLDING CHILE SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CHILE</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 style="font-size:6.0pt;">61.22 </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 style="font-size:6.0pt;">38.78 </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 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=right style="border:none;margin: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;">139 </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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">54 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 INFORMATION
  TECHNOLOGY ESPA&#209;A SL</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 style="font-size:6.0pt;">76.00 </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 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 style="font-size:6.0pt;">76.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">1 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 INSTITUI&#199;AO
  FINANCEIRA DE CREDITO SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PORTUGAL&#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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 style="font-size:6.0pt;">49.90 </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 style="font-size:6.0pt;">50.10 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">52 </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 style="font-size:6.0pt;">3 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 INSURANCE
  AGENCY, INC.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">38 </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 style="font-size:6.0pt;">9 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 INTERNATIONAL
  PREFERRED SOCIEDAD ANONIMA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 IRELAND PLC</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">IRELAND</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">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 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=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 LEASING MEXICO
  SA DE CV</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">133 </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 style="font-size:6.0pt;">15 </font></font></p>
  </td>
 </tr>
<tr style="height:14.1pt;">
  <td width=19% 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 MEDIACION
  OPERADOR DE BANCA-SEGUROS VINCULADO, S.A.</font></font></p>
  </td>
 <td nowrap width=13% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% 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;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">10 </font></font></p>
  </td>
 <td nowrap width=8% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">18 </font></font></p>
  </td>
 <td nowrap width=8% style="height:14.1pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">18 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 MORTGAGE
  CORPORATION</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">2,989 </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 style="font-size:6.0pt;">2,907 </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 style="font-size:6.0pt;">77 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 NEXT
  TECHNOLOGIES OPERADORA, S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 NEXT
  TECHNOLOGIES SLU</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">4 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">BBVA NEXT
  TECHNOLOGIES, S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 OP3N S.L.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 OPEN PLATFORM
  INC</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">(6)</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td width=19% 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 style="font-size:6.0pt;">BBVA PARAGUAY SA</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:6.0pt;">PARAGUAY&#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 nowrap width=16% 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 style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">23 </font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">139 </font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">31 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 PENSIONES SA
  ENTIDAD GESTORA DE FONDOS DE PENSIONES</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PENSION FUNDS
  MANAGEMENT</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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">13 </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 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=right style="border:none;margin: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;">8 </font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;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:6.0pt;line-height:115%;">(*)&#160;&#160; Amount without considering
the interim dividends of the year, according to the provisional financial
statements of each company, generally as of December 31, 2019. In the carrying
amount (net of provision), the Group&#180;s ownership percentage has been applied,
without considering the impairment of goodwill. Information on foreign
companies at exchange rate as of December 31, 2019.</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:6.0pt;line-height:115%;">(**)&#160; In accordance with&#160; Article 3
of Royal Decree 1159/2010, of September 17, in order to determine the state,
the voting power relating to subsidiaries was added to the voting power
directly held by the parent. Therefore, the number of votes corresponding to
the parent company (including indirect control subsidiaries), corresponds to
each subsidiary holding a direct ownership interest.
</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 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=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">Additional information on
subsidiaries and structured entities composing the BBVA Group (Continued)</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexos.I.IV_I.3_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=27% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">% share of participation (**)&#160;&#160; </font></b></font></p>
  </td>
 <td colspan=3 width=25% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Millions of Euros (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=25% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Affiliate entity data</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Company</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Location</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Activity</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Direct</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Indirect</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Total</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Equity excluding profit (loss)</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">31.12.19</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">31.12.19</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% 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:6.0pt;">BBVA PERU HOLDING SAC</font></font></p>
  </td>
 <td nowrap width=13% 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: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 nowrap 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 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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">124 </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 style="font-size:6.0pt;">947 </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 style="font-size:6.0pt;">199 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 PLANIFICACION
  PATRIMONIAL SL</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 style="font-size:6.0pt;">80.00 </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 style="font-size:6.0pt;">20.00 </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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 PREVISION AFP SA
  ADM.DE FONDOS DE PENSIONES</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BOLIVIA&#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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PENSION FUNDS
  MANAGEMENT</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 style="font-size:6.0pt;">75.00 </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 style="font-size:6.0pt;">5.00 </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 style="font-size:6.0pt;">80.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">8 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 PROCESSING
  SERVICES INC.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 PROCUREMENT SERVICES
  AMERICA DEL SUR SpA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CHILE</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">6 </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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 RE INHOUSE
  COMPA&#209;IA DE REASEGUROS, S.E.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 REAL ESTATE
  MEXICO, S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 SECURITIES INC</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">206 </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 style="font-size:6.0pt;">193 </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 style="font-size:6.0pt;">13 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 SEGUROS COLOMBIA
  SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 style="font-size:6.0pt;">94.00 </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 style="font-size:6.0pt;">6.00 </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 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=right style="border:none;margin: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;">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 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=right style="border:none;margin: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;">9 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 SEGUROS DE VIDA
  COLOMBIA SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 style="font-size:6.0pt;">94.00 </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 style="font-size:6.0pt;">6.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">104 </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 style="font-size:6.0pt;">34 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 SEGUROS SA DE
  SEGUROS Y REASEGUROS</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 style="font-size:6.0pt;">99.96 </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 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 style="font-size:6.0pt;">99.96 </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 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=right style="border:none;margin: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;">532 </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 style="font-size:6.0pt;">298 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 SERVICIOS, S.A.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">COMMERCIAL</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 SOCIEDAD
  TITULIZADORA S.A.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 TRADE, S.A.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">6 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 TRANSFER HOLDING
  INC</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">81 </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 style="font-size:6.0pt;">16 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 TRANSFER
  SERVICES INC</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">73 </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 style="font-size:6.0pt;">63 </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 style="font-size:6.0pt;">10 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 USA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">11,063 </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 style="font-size:6.0pt;">10,997 </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 style="font-size:6.0pt;">107 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 USA BANCSHARES,
  INC.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">11,424 </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 style="font-size:6.0pt;">11,755 </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 style="font-size:6.0pt;">135 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 VALORES COLOMBIA
  SA COMISIONISTA DE BOLSA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 WEALTH
  SOLUTIONS, INC.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">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 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=right style="border:none;margin: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;">4 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BILBAO VIZCAYA
  HOLDING SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 style="font-size:6.0pt;">89.00 </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 style="font-size:6.0pt;">11.00 </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 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=right style="border:none;margin: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;">41 </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 style="font-size:6.0pt;">87 </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 style="font-size:6.0pt;">15 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CAIXA MANRESA
  IMMOBILIARIA ON CASA SL</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">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 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=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CAIXA MANRESA
  IMMOBILIARIA SOCIAL SL</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">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 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=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CAIXA TERRASSA
  SOCIETAT DE PARTICIPACIONS PREFERENTS SAU</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">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 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=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CAIXASABADELL
  PREFERENTS SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CARTERA E INVERSIONES
  SA CIA DE</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">27 </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 style="font-size:6.0pt;">77 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CASA DE BOLSA BBVA
  BANCOMER SA DE CV</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">46 </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 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=right style="border:none;margin: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;">21 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CATALONIA GEBIRA,
  S.L. (IN LIQUIDATION)</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CATALONIA PROMODIS 4,
  S.A.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CATALUNYACAIXA
  CAPITAL SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">81 </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 style="font-size:6.0pt;">1 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CATALUNYACAIXA
  IMMOBILIARIA SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">321 </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 style="font-size:6.0pt;">317 </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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CATALUNYACAIXA
  SERVEIS SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">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 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=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">CDD GESTIONI
  S.R.L.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">ITALY</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">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 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=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CETACTIUS SL</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">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 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=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CIDESSA DOS, S.L.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">15 </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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CIDESSA UNO SL</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">(38)</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 style="font-size:6.0pt;">65 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CIERVANA SL</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">53 </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 style="font-size:6.0pt;">54 </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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;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:6.0pt;line-height:115%;">(*)&#160;&#160; Amount without considering
the interim dividends of the year, according to the provisional financial
statements of each company, generally as of December 31, 2019. In the carrying
amount (net of provision), the Group&#180;s ownership percentage has been applied,
without considering the impairment of goodwill. Information on foreign
companies at exchange rate as of December 31, 2019.</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:6.0pt;line-height:115%;">(**)&#160; In accordance with&#160; Article 3
of Royal Decree 1159/2010, of September 17, in order to determine the state,
the voting power relating to subsidiaries was added to the voting power
directly held by the parent. Therefore, the number of votes corresponding to
the parent company (including indirect control subsidiaries), corresponds to
each subsidiary holding a direct ownership interest.
</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-173</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</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 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=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">Additional information on
subsidiaries and structured entities composing the BBVA Group (Continued)</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexos.I.IV_I.4_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:14.25pt;">
  <td width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=27% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">% share of participation (**)&#160;&#160; </font></b></font></p>
  </td>
 <td colspan=3 width=25% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Millions of Euros (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=25% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Affiliate entity data</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Company</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Location</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Activity</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Direct</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Indirect</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Total</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Equity excluding profit (loss)</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">31.12.19</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">31.12.19</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% 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:6.0pt;">CLUB GOLF HACIENDA EL
  ALAMO, S.L.( IN LIQUIDATION)</font></font></p>
  </td>
 <td nowrap width=13% 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:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">IN LIQUIDATION</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 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 style="font-size:6.0pt;">97.87 </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 style="font-size:6.0pt;">97.87 </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 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=right style="border:none;margin: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;">1 </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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">COMERCIALIZADORA
  CORPORATIVA SAC</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 style="font-size:6.0pt;">50.00 </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 style="font-size:6.0pt;">50.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">COMERCIALIZADORA DE
  SERVICIOS FINANCIEROS, S.A.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">1 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">COMPA&#209;IA CHILENA DE
  INVERSIONES SL</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 style="font-size:6.0pt;">99.97 </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 style="font-size:6.0pt;">0.03 </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 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=right style="border:none;margin: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;">221 </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 style="font-size:6.0pt;">239 </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 style="font-size:6.0pt;">11 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 CAPITAL
  MARKETS, INC.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">7,429 </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 style="font-size:6.0pt;">7,344 </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 style="font-size:6.0pt;">85 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 GP, INC.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">44 </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 style="font-size:6.0pt;">44 </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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 INSURANCE
  TRUST</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 LIMITED
  PARTNER, INC.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">6,512 </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 style="font-size:6.0pt;">6,429 </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 style="font-size:6.0pt;">84 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">COMPASS LOAN
  HOLDINGS TRS, INC.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">74 </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 style="font-size:6.0pt;">73 </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 style="font-size:6.0pt;">1 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 MORTGAGE
  FINANCING, INC.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 SOUTHWEST, LP</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">5,380 </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 style="font-size:6.0pt;">5,323 </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 style="font-size:6.0pt;">66 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">COMPASS TEXAS
  MORTGAGE FINANCING, INC</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CONSOLIDAR A.F.J.P SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">ARGENTINA</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 LIQUIDATION</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 style="font-size:6.0pt;">46.11 </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 style="font-size:6.0pt;">53.89 </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 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=right style="border:none;margin: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;">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 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=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CONTENTS AREA, S.L.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">7 </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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CONTINENTAL DPR
  FINANCE COMPANY</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CAYMAN ISLANDS</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CONTRATACION DE
  PERSONAL, S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">7 </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 style="font-size:6.0pt;">1 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CORPORACION GENERAL
  FINANCIERA SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">510 </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 style="font-size:6.0pt;">1,433 </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 style="font-size:6.0pt;">20 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">COVAULT, INC</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">(3)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">DALLAS CREATION
  CENTER, INC</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">DATA
  ARCHITECTURE AND TECHNOLOGY MEXICO SA DE CV</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">DATA
  ARCHITECTURE AND TECHNOLOGY S.L.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 style="font-size:6.0pt;">51.00 </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 style="font-size:6.0pt;">51.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">DATA
  ARCHITECTURE&nbsp; AND TECHNOLOGY OPERADORA SA DE CV</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">DENIZEN FINANCIAL,
  INC</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">DENIZEN GLOBAL
  FINANCIAL SAU</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PAYMENT ENTITIES</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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">(3)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">DEUTSCHE BANK MEXICO
  SA FIDEICOMISO F/1859</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">DEUTSCHE BANK MEXICO
  SA FIDEICOMISO F/1860</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">DISTRITO CASTELLANA
  NORTE, S.A.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 style="font-size:6.0pt;">75.54 </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 style="font-size:6.0pt;">75.54 </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 style="font-size:6.0pt;">113 </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 style="font-size:6.0pt;">150 </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 style="font-size:6.0pt;">(5)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">ECASA, S.A.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CHILE</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">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 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=right style="border:none;margin: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;">12 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">EL ENCINAR
  METROPOLITANO, S.A.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 style="font-size:6.0pt;">99.05 </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 style="font-size:6.0pt;">99.05 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">EL MILANILLO, S.A.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">7 </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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">EMPRENDIMIENTOS DE
  VALOR S.A.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td width=19% 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 style="font-size:6.0pt;">ENTRE2 SERVICIOS
  FINANCIEROS E.F.C SA</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% 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 style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% 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 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=right style="border:none;margin: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;">9 </font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">ESPAIS SABADELL
  PROMOCIONS INMOBILIARIES, S.A.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">EUROPEA DE
  TITULIZACION SA SGFT .</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 style="font-size:6.0pt;">88.24 </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 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 style="font-size:6.0pt;">88.24 </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 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=right style="border:none;margin: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;">20 </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 style="font-size:6.0pt;">3 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">EXPANSION
  INTERCOMARCAL SL</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">16 </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 style="font-size:6.0pt;">17 </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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.95pt;">
  <td width=19% 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 style="font-size:6.0pt;">F/11395 FIDEICOMISO
  IRREVOCABLE DE ADMINISTRACION CON DERECHO DE REVERSION (1)</font></font></p>
  </td>
 <td nowrap width=13% 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 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 nowrap width=16% 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 style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">42.40 </font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">42.40 </font></font></p>
  </td>
 <td nowrap width=9% 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 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=right style="border:none;margin: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;">1 </font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">F/253863 EL DESEO
  RESIDENCIAL</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 style="font-size:6.0pt;">65.00 </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 style="font-size:6.0pt;">65.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;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:6.0pt;line-height:115%;">(*)&#160;&#160; Amount without considering
the interim dividends of the year, according to the provisional financial
statements of each company, generally as of December 31, 2019. In the carrying
amount (net of provision), the Group&#180;s ownership percentage has been applied,
without considering the impairment of goodwill. Information on foreign
companies at exchange rate as of December 31, 2019.</font></font></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:6.0pt;line-height:115%;">(**)&#160; In
accordance with&#160; Article 3 of Royal Decree 1159/2010, of September 17, in order
to determine the state, the voting power relating to subsidiaries was added to
the voting power directly held by the parent. Therefore, the number of votes
corresponding to the parent company (including indirect control subsidiaries),
corresponds to each subsidiary holding a direct ownership interest. </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:6.0pt;line-height:115%;">(1) Full consolidation method is
used according to accounting rules (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-174</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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 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=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">Additional information on
subsidiaries and structured entities composing the BBVA Group (Continued)</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexos.I.IV_I.5_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=27% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">% share of participation (**)&#160;&#160; </font></b></font></p>
  </td>
 <td colspan=3 width=25% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Millions of Euros (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=25% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Affiliate entity data</font></b></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 align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Company</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Location</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Activity</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 align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Direct</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 align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Indirect</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 align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Total</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 align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Equity excluding profit (loss)</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">31.12.19</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">31.12.19</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% 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:6.0pt;">F/403035-9 BBVA
  HORIZONTES RESIDENCIAL</font></font></p>
  </td>
 <td nowrap width=13% 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: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 nowrap 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 style="font-size:6.0pt;">REAL ESTATE</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 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 style="font-size:6.0pt;">65.00 </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 style="font-size:6.0pt;">65.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 28991-8
  TRADING EN LOS MCADOS FINANCIEROS</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 F/29764-8
  SOCIO LIQUIDADOR DE OPERACIONES FINANCIERAS DERIVADAS</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">50 </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 style="font-size:6.0pt;">45 </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 style="font-size:6.0pt;">5 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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
  F/403112-6 DE ADMINISTRACION DOS LAGOS</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 HARES
  BBVA BANCOMER F/ 47997-2</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">2 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 INMUEBLES
  CONJUNTO RESIDENCIAL HORIZONTES DE VILLA CAMPESTRE</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 LOTE 6.1
  ZARAGOZA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 style="font-size:6.0pt;">59.99 </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 style="font-size:6.0pt;">59.99 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 N.989 EN
  THE BANK OF NEW YORK MELLON SA INSTITUCION DE BANCA MULTIPLE FIDUCIARIO
  (FIDEIC.00989 6 EMISION)</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">(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 style="font-size:6.0pt;">3 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">1 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">FIDEICOMISO
  SCOTIABANK INVERLAT S A F100322908</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">1 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">FINANCIERA AYUDAMOS
  S.A. DE C.V., SOFOMER</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">6 </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 style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">FOMENTO Y DESARROLLO
  DE CONJUNTOS RESIDENCIALES S.L. (IN LIQUIDATION)</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 LIQUIDATION</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 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 style="font-size:6.0pt;">60.00 </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 style="font-size:6.0pt;">60.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">FORUM
  COMERCIALIZADORA DEL PERU SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">FORUM DISTRIBUIDORA
  DEL PERU SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">1 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">FORUM DISTRIBUIDORA,
  S.A.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CHILE</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">6 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">FORUM SERVICIOS
  FINANCIEROS, S.A.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CHILE</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">246 </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 style="font-size:6.0pt;">187 </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 style="font-size:6.0pt;">49 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">FUTURO FAMILIAR, S.A.
  DE C.V.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">G NETHERLANDS BV</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">NETHERLANDS</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">291 </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 style="font-size:6.0pt;">(3)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 BANK SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">ROMANIA</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">262 </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 style="font-size:6.0pt;">293 </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 style="font-size:6.0pt;">25 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 BBVA AS (1)</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">TURKEY</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 style="font-size:6.0pt;">49.85 </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 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 style="font-size:6.0pt;">49.85 </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 style="font-size:6.0pt;">4,967 </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 style="font-size:6.0pt;">7,219 </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 style="font-size:6.0pt;">968 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 BBVA
  EMEKLILIK AS</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">TURKEY</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 style="font-size:6.0pt;">84.91 </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 style="font-size:6.0pt;">84.91 </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 style="font-size:6.0pt;">173 </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 style="font-size:6.0pt;">129 </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 style="font-size:6.0pt;">71 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 BBVA
  FACTORING AS</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">TURKEY</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 style="font-size:6.0pt;">81.84 </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 style="font-size:6.0pt;">81.84 </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 style="font-size:6.0pt;">20 </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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">4 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 BBVA FILO AS</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">TURKEY</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">5 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 BBVA LEASING
  AS</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">TURKEY</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">152 </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 style="font-size:6.0pt;">137 </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 style="font-size:6.0pt;">16 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 BBVA PORTFOY
  AS</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">TURKEY</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">20 </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 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=right style="border:none;margin: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;">6 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 BBVA YATIRIM
  AS</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">TURKEY</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">26 </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 style="font-size:6.0pt;">23 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 BILISIM
  TEKNOLOJISI VE TIC TAS</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">TURKEY</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">4 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">GARANTI
  DIVERSIFIED PAYMENT RIGHTS FINANCE COMPANY</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CAYMAN ISLANDS</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">(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 style="font-size:6.0pt;">(14)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 FILO SIGORTA
  ARACILIK HIZMETLERI A.S.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">TURKEY</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 HOLDING BV</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">NETHERLANDS</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">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 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=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">GARANTI KONUT
  FINANSMANI DANISMANLIK HIZMETLERI AS (GARANTI MORTGAGE)</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">TURKEY</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 KULTUR AS</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">TURKEY</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 ODEME
  SISTEMLERI AS (GOSAS)</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">TURKEY</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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
  ORTAKLIGI AS</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">TURKEY</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 style="font-size:6.0pt;">91.40 </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 style="font-size:6.0pt;">91.40 </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 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=right style="border:none;margin: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;">6 </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 style="font-size:6.0pt;">1 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">GARANTIBANK BBVA
  INTERNATIONAL N.V.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">NETHERLANDS</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">577 </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 style="font-size:6.0pt;">7 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">GARRAF MEDITERRANIA,
  S.A.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">GESCAT GESTIO DE SOL
  SL</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;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:6.0pt;line-height:115%;">(*)&#160;&#160; Amount without considering
the interim dividends of the year, according to the provisional financial
statements of each company, generally as of December 31, 2019. In the carrying
amount (net of provision), the Group&#180;s ownership percentage has been applied,
without considering the impairment of goodwill. Information on foreign
companies at exchange rate as of December 31, 2019.</font></font></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:6.0pt;line-height:115%;">(**)&#160; In
accordance with&#160; Article 3 of Royal Decree 1159/2010, of September 17, in order
to determine the state, the voting power relating to subsidiaries was added to
the voting power directly held by the parent. Therefore, the number of votes
corresponding to the parent company (including indirect control subsidiaries),
corresponds to each subsidiary holding a direct ownership interest.</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:6.0pt;line-height:115%;">(1) Full consolidation method is
used according to accounting rules (see Glossary)
</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-175</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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 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=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">Additional
information on subsidiaries and structured entities composing the BBVA Group
(Continued)</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexos.I.IV_I.6_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=27% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">% share of participation (**)&#160;&#160; </font></b></font></p>
  </td>
 <td colspan=3 width=25% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Millions of Euros (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=25% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Affiliate entity data</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Company</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Location</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Activity</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Direct</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Indirect</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Total</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Equity excluding profit (loss)</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">31.12.19</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">31.12.19</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% 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:6.0pt;">GESCAT LLEVANT, S.L.</font></font></p>
  </td>
 <td nowrap width=13% 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:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">REAL ESTATE</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 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 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=right style="border:none;margin: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;">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=right style="border:none;margin: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;">3 </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 style="font-size:6.0pt;">3 </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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">GESCAT LLOGUERS SL</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">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 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=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">GESCAT POLSKA SP ZOO</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">POLAND</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">GESCAT SINEVA, S.L.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">6 </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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">GESCAT VIVENDES EN
  COMERCIALITZACIO SL</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">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 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=right style="border:none;margin: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;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">GESTION DE PREVISION
  Y PENSIONES SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PENSION FUNDS
  MANAGEMENT</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 style="font-size:6.0pt;">60.00 </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 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 style="font-size:6.0pt;">60.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">5 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">GESTION Y
  ADMINISTRACION DE RECIBOS, S.A. - GARSA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">GRAN JORGE JUAN SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">423 </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 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=right style="border:none;margin: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;">14 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">GRUPO FINANCIERO BBVA
  BANCOMER SA DE CV</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 style="font-size:6.0pt;">99.98 </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 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 style="font-size:6.0pt;">99.98 </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 style="font-size:6.0pt;">6,678 </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 style="font-size:6.0pt;">8,586 </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 style="font-size:6.0pt;">2,645 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">GUARANTY BUSINESS
  CREDIT CORPORATION</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">GUARANTY PLUS HOLDING
  COMPANY</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">HABITATGES FINVER,
  S.L.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">HABITATGES JUVIPRO,
  S.L.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">HOLAMUNO AGENTE DE
  SEGUROS VINCULADO, S.L.U. (IN LIQUIDATION)</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 LIQUIDATION</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">HOLVI DEUTSCHLAND
  SERVICE GMBH ( IN LIQUIDATION)</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">GERMANY</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 LIQUIDATION</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">HOLVI PAYMENT SERVICE
  OY</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">FINLAND</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">55 </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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">(17)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">HUMAN RESOURCES
  PROVIDER, INC</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">349 </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 style="font-size:6.0pt;">342 </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 style="font-size:6.0pt;">6 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">HUMAN RESOURCES
  SUPPORT, INC</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">343 </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 style="font-size:6.0pt;">337 </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 style="font-size:6.0pt;">6 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">INMESP
  DESARROLLADORA, S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">14 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">INMUEBLES Y
  RECUPERACIONES CONTINENTAL SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">44 </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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">2 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">INPAU, S.A.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">INVERAHORRO SL</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">98 </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 style="font-size:6.0pt;">102 </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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">INVERPRO
  DESENVOLUPAMENT, S.L.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">2 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">INVERSIONES ALDAMA,
  C.A.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">VENEZUELA</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 LIQUIDATION</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">INVERSIONES BANPRO
  INTERNATIONAL INC NV (1)</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CURA&#199;AO</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 style="font-size:6.0pt;">48.00 </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 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 style="font-size:6.0pt;">48.01 </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 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=right style="border:none;margin: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;">46 </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 style="font-size:6.0pt;">6 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">INVERSIONES BAPROBA
  CA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">VENEZUELA</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">INVERSIONES P.H.R.4,
  C.A.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">VENEZUELA</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">INACTIVE</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 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 style="font-size:6.0pt;">60.46 </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 style="font-size:6.0pt;">60.46 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">IRIDION SOLUCIONS
  IMMOBILIARIES SL</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">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 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=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">JALE PROCAM,
  S.L. (IN LIQUIDATION)</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 LIQUIDATION</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 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 style="font-size:6.0pt;">50.00 </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 style="font-size:6.0pt;">50.00 </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 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=right style="border:none;margin: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;">(53)</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 style="font-size:6.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">L'EIX IMMOBLES, S.L.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">LIQUIDITY ADVISORS LP</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">1,154 </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 style="font-size:6.0pt;">1,144 </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 style="font-size:6.0pt;">17 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">MADIVA SOLUCIONES,
  S.L.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">MICRO SPINAL LLC</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">MISAPRE, S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">MOMENTUM SOCIAL
  INVESTMENT HOLDING, S.L.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">7 </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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">MOTORACTIVE IFN SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">ROMANIA</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">36 </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 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=right style="border:none;margin: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;">3 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">MOTORACTIVE
  MULTISERVICES SRL</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">ROMANIA</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">1 </font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;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:6.0pt;line-height:115%;">(*)&#160;&#160; Amount without considering
the interim dividends of the year, according to the provisional financial
statements of each company, generally as of December 31, 2019. In the carrying
amount (net of provision), the Group&#180;s ownership percentage has been applied,
without considering the impairment of goodwill. Information on foreign
companies at exchange rate as of December 31, 2019.</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:6.0pt;line-height:115%;">(**)&#160; In
accordance with&#160; Article 3 of Royal Decree 1159/2010, of September 17, in order
to determine the state, the voting power relating to subsidiaries was added to
the voting power directly held by the parent. Therefore, the number of votes
corresponding to the parent company (including indirect control subsidiaries),
corresponds to each subsidiary holding a direct ownership interest. </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:6.0pt;line-height:115%;">(1) Full consolidation method is
used according to accounting rules (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-176</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_417"></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=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">Additional
information on subsidiaries and structured entities composing the BBVA Group
(Continued)</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexos.I.IV_I.7_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=27% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">% share of participation (**)&#160;&#160; </font></b></font></p>
  </td>
 <td colspan=3 width=25% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Millions of Euros (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=25% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Affiliate entity data</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Company</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Location</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Activity</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Direct</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Indirect</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Total</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Equity excluding profit (loss)</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">31.12.19</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">31.12.19</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% 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:6.0pt;">MULTIASISTENCIA
  OPERADORA S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=13% 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: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 nowrap 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 style="font-size:6.0pt;">INSURANCES SERVICES</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 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 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=right style="border:none;margin: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;">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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">MULTIASISTENCIA
  SERVICIOS S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">MULTIASISTENCIA, S.A.
  DE C.V.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">27 </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 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=right style="border:none;margin: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;">9 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">NOIDIRI SL</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=19% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">NOVA TERRASSA 3, S.L.</font></font></p>
  </td>
 <td nowrap width=13% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">100.00 </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 style="font-size:6.0pt;">100.00 </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 style="font-size:6.0pt;">6 </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 style="font-size:6.0pt;">6 </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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">OPCION VOLCAN, S.A.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">1 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">OPENPAY COLOMBIA SAS</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PAYMENT ENTITIES</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">OPENPAY S.A.P.I DE
  C.V.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PAYMENT ENTITIES</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">OPENPAY SERVICIOS
  S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">OPERADORA DOS LAGOS
  S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">OPPLUS OPERACIONES Y
  SERVICIOS SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">6 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">OPPLUS SAC (IN
  LIQUIDATION)</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 LIQUIDATION</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">P.I. HOLDINGS
  NO. 3, INC.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PARCSUD PLANNER, S.L.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PECRI INVERSION SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 INVESTMENT
  COMPANIES</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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">166 </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 style="font-size:6.0pt;">3 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PENSIONES BBVA
  BANCOMER, S.A. DE C.V., GRUPO FINANCIERO BBVA BANCOMER</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">245 </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 style="font-size:6.0pt;">211 </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 style="font-size:6.0pt;">90 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PHOENIX LOAN
  HOLDINGS, INC.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">288 </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 style="font-size:6.0pt;">285 </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 style="font-size:6.0pt;">5 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PI HOLDINGS NO. 1,
  INC.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">84 </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 style="font-size:6.0pt;">84 </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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PORTICO PROCAM, S.L.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">26 </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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PROMOCIONES Y
  CONSTRUCCIONES CERBAT, S.L.U.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PROMOTORA DEL VALLES,
  S.L.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">36 </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 style="font-size:6.0pt;">37 </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 style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 3AG DELTA,
  S.L.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 EIX MACIA,
  S.L.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 GEBIRA,
  S.L.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">PROMOU CT
  OPENSEGRE, S.L.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">7 </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 style="font-size:6.0pt;">(2)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=19% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 VALLES,
  S.L.</font></font></p>
  </td>
 <td nowrap width=13% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">100.00 </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 style="font-size:6.0pt;">100.00 </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 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=right style="border:none;margin: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;">2 </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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 GLOBAL, S.L.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">18 </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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PRONORTE UNO PROCAM,
  S.A.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 GLOBAL, S.L</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 style="font-size:6.0pt;">99.50 </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 style="font-size:6.0pt;">99.50 </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 style="font-size:6.0pt;">52 </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 style="font-size:6.0pt;">64 </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 style="font-size:6.0pt;">15 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">PROPEL VENTURE
  PARTNERS US FUND I, L.P.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">VENTURE CAPITAL</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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">90 </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 style="font-size:6.0pt;">17 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PRO-SALUD, C.A.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">VENEZUELA</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">INACTIVE</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 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 style="font-size:6.0pt;">58.86 </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 style="font-size:6.0pt;">58.86 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PROVINCIAL DE VALORES
  CASA DE BOLSA CA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">VENEZUELA</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 style="font-size:6.0pt;">90.00 </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 style="font-size:6.0pt;">90.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PROVINCIAL
  SDAD.ADMIN.DE ENTIDADES DE INV.COLECTIVA CA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">VENEZUELA</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PROV-INFI-ARRAHONA,
  S.L.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">6 </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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PROVIVIENDA ENTIDAD
  RECAUDADORA Y ADMIN.DE APORTES, S.A.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BOLIVIA&#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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PENSION FUNDS
  MANAGEMENT</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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PSA FINANCE ARGENTINA
  COMPA&#209;IA FINANCIERA SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">ARGENTINA</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 style="font-size:6.0pt;">50.00 </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 style="font-size:6.0pt;">50.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">(4)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PUERTO CIUDAD LAS
  PALMAS, S.A.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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 style="font-size:6.0pt;">96.64 </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 style="font-size:6.0pt;">96.64 </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 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=right style="border:none;margin: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;">(24)</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 style="font-size:6.0pt;">(1)</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:3.0pt;text-align:justify;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*)&#160; In accordance with&#160; Article 3 of Royal Decree 1159/2010, of
September 17, in order to determine the state, the voting power relating to
subsidiaries was added to the voting power directly held by the parent.
Therefore, the number of votes corresponding to the parent company (including
indirect control subsidiaries), corresponds to each subsidiary holding a direct
ownership interest.
</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-177</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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 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=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-GB style="font-size:10.0pt;line-height:115%;">Additional
information on subsidiaries and structured entities composing the BBVA Group
(Continued)</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexos.I.IV_I.8_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:14.25pt;">
  <td width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=27% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">% Legal share of participation (**)</font></b></font></p>
  </td>
 <td colspan=3 width=25% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Millions of Euros (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=19% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=25% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Affiliate entity data</font></b></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 align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Company</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Location</font></b></font></p>
  </td>
 <td width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Activity</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 align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Direct</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 align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Indirect</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 align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Total</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 align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Equity excluding profit (loss)</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">31.12.19</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">31.12.19</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% 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:6.0pt;">QIPRO SOLUCIONES S.L.</font></font></p>
  </td>
 <td nowrap width=13% 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:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap 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 style="font-size:6.0pt;">SERVICES</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 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 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=right style="border:none;margin: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;">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=right style="border:none;margin: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;">5 </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 style="font-size:6.0pt;">12 </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 style="font-size:6.0pt;">2 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">RALFI IFN SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">ROMANIA</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">38 </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 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=right style="border:none;margin: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;">2 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">RPV COMPANY</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">CAYMAN ISLANDS</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">RWHC, INC</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">772 </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 style="font-size:6.0pt;">753 </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 style="font-size:6.0pt;">14 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SAGE OG I, INC</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SATICEM GESTIO SL</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">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 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=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=19% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SATICEM HOLDING SL</font></font></p>
  </td>
 <td nowrap width=13% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 style="font-size:6.0pt;">100.00 </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 style="font-size:6.0pt;">-</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 style="font-size:6.0pt;">100.00 </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 style="font-size:6.0pt;">5 </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 style="font-size:6.0pt;">5 </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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SATICEM IMMOBILIARIA
  SL</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">16 </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 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=right style="border:none;margin: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;">1 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SATICEM IMMOBLES EN
  ARRENDAMENT SL</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">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 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=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SEGUROS BBVA BANCOMER
  SA DE CV GRUPO FINANCIERO BBVA BANCOMER</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">413 </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 style="font-size:6.0pt;">336 </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 style="font-size:6.0pt;">282 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SEGUROS PROVINCIAL CA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">VENEZUELA</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SERVICIOS
  CORPORATIVOS BANCOMER, S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">6 </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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SERVICIOS
  CORPORATIVOS DE SEGUROS, S.A. DE C.V.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">6 </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 style="font-size:6.0pt;">1 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SERVICIOS EXTERNOS DE
  APOYO EMPRESARIAL, S.A DE C.V.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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 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=right style="border:none;margin: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;">100.00 </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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">4 </font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SIMPLE FINANCE
  TECHNOLOGY CORP.</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 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 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 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=right style="border:none;margin: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;">100.00 </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 style="font-size:6.0pt;">56 </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 style="font-size:6.0pt;">78 </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 style="font-size:6.0pt;">(23)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SOCIEDAD DE ESTUDIOS
  Y ANALISIS FINANCIERO SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">(5)</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SOCIEDAD GESTORA DEL
  FONDO PUBLICO DE REGULACION DEL MERCADO HIPOTECARIO SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">INACTIVE</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 style="font-size:6.0pt;">77.20 </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 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 style="font-size:6.0pt;">77.20 </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 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=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=19% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPORT CLUB 18 SA</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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=right style="border:none;margin: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;">-</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 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=right style="border:none;margin: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;">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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">(3)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">TEXAS LOAN SERVICES
  LP</font></font></p>
  </td>
 <td nowrap width=13% 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;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% 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;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,170 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,151 </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 style="font-size:6.0pt;">20 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">TMF HOLDING INC.</font></font></p>
  </td>
 <td nowrap width=13% 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;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% 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;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">16 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:6.0pt;">1 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">TRIFOI REAL ESTATE
  SRL</font></font></p>
  </td>
 <td nowrap width=13% 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;">ROMANIA</font></font></p>
  </td>
 <td nowrap width=16% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">TUCSON LOAN HOLDINGS,
  INC.</font></font></p>
  </td>
 <td nowrap width=13% 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;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% 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;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 style="font-size:6.0pt;">1 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">UNIVERSALIDAD TIPS
  PESOS E-9</font></font></p>
  </td>
 <td nowrap width=13% 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;">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 nowrap width=16% 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;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">29 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">UNNIM SOCIEDAD PARA
  LA GESTION DE ACTIVOS INMOBILIARIOS SA</font></font></p>
  </td>
 <td nowrap width=13% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">336 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">543 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(18)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">UPTURN FINANCIAL INC</font></font></p>
  </td>
 <td nowrap width=13% 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;">UNITED STATES</font></font></p>
  </td>
 <td nowrap width=16% 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;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">100.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">(3)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">URBANIZADORA SANT
  LLORENC SA</font></font></p>
  </td>
 <td nowrap width=13% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% 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;">INACTIVE</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">60.60 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">60.60 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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=EN-US style="font-size:6.0pt;">VERIDAS DIGITAL
  AUTHENTICATION SOLUTIONS S.L.</font></font></p>
  </td>
 <td nowrap width=13% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=16% 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;">SERVICES</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">51.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">51.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=19% 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;">VOLKSWAGEN FINANCIAL
  SERVICES COMPA&#209;IA FINANCIERA SA</font></font></p>
  </td>
 <td nowrap width=13% 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;">ARGENTINA</font></font></p>
  </td>
 <td nowrap width=16% 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;">BANKING</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">51.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">51.00 </font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:6.0pt;">29 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1 </font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;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:6.0pt;line-height:115%;">(*)&#160;&#160; Amount without considering
the interim dividends of the year, according to the provisional financial
statements of each company, generally as of December 31, 2019. In the carrying
amount (net of provision), the Group&#180;s ownership percentage has been applied,
without considering the impairment of goodwill. Information on foreign
companies at exchange rate as of December 31, 2019.</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:6.0pt;line-height:115%;">(**)&#160; In
accordance with&#160; Article 3 of Royal Decree 1159/2010, of September 17, in order
to determine the state, the voting power relating to subsidiaries was added to
the voting power directly held by the parent. Therefore, the number of votes
corresponding to the parent company (including indirect control subsidiaries),
corresponds to each subsidiary holding a direct ownership interest.
</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><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_419"></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:11.0pt;">APPENDIX
II. </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:11.0pt;">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;"><font color=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 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 title="F_I_Anexos.I.IV_II.1_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 rowspan=2 width=23% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Millions of Euros (*)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 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:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 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:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Affiliate entity data</font></b></font></p>
  </td>
 </tr>
<tr style="height:41.25pt;">
  <td width=17% style="border:none;border-bottom:solid black 1.0pt;height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Company</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Location</font></b></font></p>
  </td>
 <td width=14% style="border:none;border-bottom:solid black 1.0pt;height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Activity</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Direct</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Indirect</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Assets 31.12.19</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Liabilities 31.12.19</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Equity excluding profit (loss)</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">31.12.19</font></b></font></p>
  </td>
 <td width=7% style="border:none;border-bottom:solid black 1.0pt;height:41.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">31.12.19</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=17% style="border:none;height:14.25pt;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 style="font-size:6.0pt;">ASSOCIATES</font></b></font></p>
  </td>
 <td nowrap width=11% 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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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=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=8% 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=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;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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% 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=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;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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% 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=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;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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% 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=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>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:6.0pt;">ADQUIRA ESPA&#209;A, S.A.</font></font></p>
  </td>
 <td nowrap width=11% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=14% 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;">COMMERCIAL</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">40.00 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">40.00 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">19 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">11 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">7 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:6.0pt;">ATOM BANK PLC</font></font></p>
  </td>
 <td nowrap width=11% 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;">UNITED KINGDOM</font></font></p>
  </td>
 <td nowrap width=14% 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;">BANKING</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">39.02 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">39.02 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">136 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3,285 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3,024 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">350 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(90)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:6.0pt;">AUREA, S.A. (CUBA)</font></font></p>
  </td>
 <td nowrap width=11% 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;">CUBA</font></font></p>
  </td>
 <td nowrap width=14% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">49.00 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">49.00 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">5 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">10 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">9 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1 </font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=17% 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;">COMPA&#209;IA ESPA&#209;OLA DE
  FINANCIACION DEL DESARROLLO SA</font></font></p>
  </td>
 <td nowrap width=11% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=14% 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;">PUBLIC ENTITIES AND
  INSTITUTIONS</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">16.67 </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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% 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;">16.67 </font></font></p>
  </td>
 <td nowrap width=7% 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;">23 </font></font></p>
  </td>
 <td nowrap width=7% 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;">146 </font></font></p>
  </td>
 <td nowrap width=7% 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;">6 </font></font></p>
  </td>
 <td nowrap width=7% 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;">131 </font></font></p>
  </td>
 <td nowrap width=7% 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;">9 </font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=17% 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;">COMPA&#209;IA PERUANA DE
  MEDIOS DE PAGO SAC (VISANET PERU)</font></font></p>
  </td>
 <td nowrap width=11% 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;">PERU</font></font></p>
  </td>
 <td nowrap width=14% 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;">ELECTRONIC MONEY
  ENTITIES</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">21.03 </font></font></p>
  </td>
 <td nowrap width=7% 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;">21.03 </font></font></p>
  </td>
 <td nowrap width=7% 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;">3 </font></font></p>
  </td>
 <td nowrap width=7% 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;">103 </font></font></p>
  </td>
 <td nowrap width=7% 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;">89 </font></font></p>
  </td>
 <td nowrap width=7% 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;">5 </font></font></p>
  </td>
 <td nowrap width=7% 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;">9 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:6.0pt;">DIVARIAN PROPIEDAD,
  S.A.U.</font></font></p>
  </td>
 <td nowrap width=11% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=14% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">20.00 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">20.00 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">630 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3,252 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">101 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3,199 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(48)</font></font></p>
  </td>
 </tr>
<tr style="height:41.25pt;">
  <td width=17% 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;">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 nowrap width=11% 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;">MEXICO</font></font></p>
  </td>
 <td nowrap width=14% 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;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=8% 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;">-</font></font></p>
  </td>
 <td nowrap width=8% 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;">28.50 </font></font></p>
  </td>
 <td nowrap width=7% 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;">28.50 </font></font></p>
  </td>
 <td nowrap width=7% 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;">2 </font></font></p>
  </td>
 <td nowrap width=7% 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;">8 </font></font></p>
  </td>
 <td nowrap width=7% 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;">-</font></font></p>
  </td>
 <td nowrap width=7% 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;">13 </font></font></p>
  </td>
 <td nowrap width=7% 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;">(4)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:6.0pt;">METROVACESA SA</font></font></p>
  </td>
 <td nowrap width=11% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=14% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">9.44 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">11.41 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">20.85 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">443 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,622 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">280 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,343 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(1)</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=17% 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;">REDSYS SERVICIOS DE
  PROCESAMIENTO SL</font></font></p>
  </td>
 <td nowrap width=11% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=14% 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;">FINANCIAL SERVICES</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">20.00 </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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% 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;">20.00 </font></font></p>
  </td>
 <td nowrap width=7% 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;">14 </font></font></p>
  </td>
 <td nowrap width=7% 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;">128 </font></font></p>
  </td>
 <td nowrap width=7% 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;">56 </font></font></p>
  </td>
 <td nowrap width=7% 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;">60 </font></font></p>
  </td>
 <td nowrap width=7% 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;">11 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:6.0pt;">ROMBO COMPA&#209;IA
  FINANCIERA SA</font></font></p>
  </td>
 <td nowrap width=11% 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;">ARGENTINA</font></font></p>
  </td>
 <td nowrap width=14% 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;">BANKING</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">40.00 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">40.00 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">10 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">118 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">93 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">28 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(4)</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=17% 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;">SERVICIOS
  ELECTRONICOS GLOBALES SA DE CV</font></font></p>
  </td>
 <td nowrap width=11% 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;">MEXICO</font></font></p>
  </td>
 <td nowrap width=14% 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;">SERVICES</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">46.14 </font></font></p>
  </td>
 <td nowrap width=7% 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;">46.14 </font></font></p>
  </td>
 <td nowrap width=7% 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;">11 </font></font></p>
  </td>
 <td nowrap width=7% 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;">23 </font></font></p>
  </td>
 <td nowrap width=7% 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;">-</font></font></p>
  </td>
 <td nowrap width=7% 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;">20 </font></font></p>
  </td>
 <td nowrap width=7% 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;">3 </font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=17% 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;">SERVIRED SOCIEDAD
  ESPA&#209;OLA DE MEDIOS DE PAGO SA</font></font></p>
  </td>
 <td nowrap width=11% 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;">ESPA&#209;A</font></font></p>
  </td>
 <td nowrap width=14% 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;">FINANCIAL SERVICES</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">28.72 </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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% 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;">28.72 </font></font></p>
  </td>
 <td nowrap width=7% 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;">8 </font></font></p>
  </td>
 <td nowrap width=7% 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;">31 </font></font></p>
  </td>
 <td nowrap width=7% 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;">3 </font></font></p>
  </td>
 <td nowrap width=7% 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;">27 </font></font></p>
  </td>
 <td nowrap width=7% 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;">1 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:6.0pt;">SOLARISBANK AG</font></font></p>
  </td>
 <td nowrap width=11% 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;">GERMANY</font></font></p>
  </td>
 <td nowrap width=14% 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;">BANKING</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">22.22 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">22.22 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">36 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">416 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">369 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">65 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">(18)</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:6.0pt;">TELEFONICA FACTORING
  ESPA&#209;A SA</font></font></p>
  </td>
 <td nowrap width=11% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=14% 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;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">30.00 </font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">30.00 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">60 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">46 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">7 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">7 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:6.0pt;">TF PERU SAC</font></font></p>
  </td>
 <td nowrap width=11% 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;">PERU</font></font></p>
  </td>
 <td nowrap width=14% 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;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">24.30 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">24.30 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">6 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2 </font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=17% style="height:12.75pt;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 style="font-size:6.0pt;">JOINT VENTURES </font></b></font></p>
  </td>
 <td nowrap width=11% 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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% 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 style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:6.0pt;">ADQUIRA MEXICO SA DE
  CV </font></font></p>
  </td>
 <td nowrap width=11% 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;">MEXICO</font></font></p>
  </td>
 <td nowrap width=14% 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;">COMMERCIAL</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">50.00 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">50.00 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">6 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=17% 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;">ALTURA MARKETS
  SOCIEDAD DE VALORES SA </font></font></p>
  </td>
 <td nowrap width=11% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=14% 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;">SECURITY DEALER</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">50.00 </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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=7% 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;">50.00 </font></font></p>
  </td>
 <td nowrap width=7% 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;">73 </font></font></p>
  </td>
 <td nowrap width=7% 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;">2,448 </font></font></p>
  </td>
 <td nowrap width=7% 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;">2,301 </font></font></p>
  </td>
 <td nowrap width=7% 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;">138 </font></font></p>
  </td>
 <td nowrap width=7% 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;">9 </font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=17% 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;">COMPA&#209;IA MEXICANA DE
  PROCESAMIENTO SA DE CV </font></font></p>
  </td>
 <td nowrap width=11% 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;">MEXICO</font></font></p>
  </td>
 <td nowrap width=14% 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;">SERVICES</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">50.00 </font></font></p>
  </td>
 <td nowrap width=7% 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;">50.00 </font></font></p>
  </td>
 <td nowrap width=7% 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;">9 </font></font></p>
  </td>
 <td nowrap width=7% 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;">17 </font></font></p>
  </td>
 <td nowrap width=7% 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;">-</font></font></p>
  </td>
 <td nowrap width=7% 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;">16 </font></font></p>
  </td>
 <td nowrap width=7% 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;">1 </font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=17% 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;">CORPORACION IBV
  PARTICIPACIONES EMPRESARIALES, S.A. (1)</font></font></p>
  </td>
 <td nowrap width=11% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=14% 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;">INVESTMENT COMPANY</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">50.00 </font></font></p>
  </td>
 <td nowrap width=7% 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;">50.00 </font></font></p>
  </td>
 <td nowrap width=7% 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;">29 </font></font></p>
  </td>
 <td nowrap width=7% 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;">63 </font></font></p>
  </td>
 <td nowrap width=7% 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;">5 </font></font></p>
  </td>
 <td nowrap width=7% 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;">58 </font></font></p>
  </td>
 <td nowrap width=7% 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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=17% 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;">DESARROLLOS
  METROPOLITANOS DEL SUR, S.L. </font></font></p>
  </td>
 <td nowrap width=11% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=14% 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;">REAL ESTATE</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">50.00 </font></font></p>
  </td>
 <td nowrap width=7% 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;">50.00 </font></font></p>
  </td>
 <td nowrap width=7% 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;">14 </font></font></p>
  </td>
 <td nowrap width=7% 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;">81 </font></font></p>
  </td>
 <td nowrap width=7% 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;">53 </font></font></p>
  </td>
 <td nowrap width=7% 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;">27 </font></font></p>
  </td>
 <td nowrap width=7% 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;">2 </font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=17% 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;">FIDEICOMISO DE
  ADMINISTRACION REDETRANS </font></font></p>
  </td>
 <td nowrap width=11% 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;">COLOMBIA</font></font></p>
  </td>
 <td nowrap width=14% 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;">FINANCIAL SERVICES</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">25.07 </font></font></p>
  </td>
 <td nowrap width=7% 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;">25.07 </font></font></p>
  </td>
 <td nowrap width=7% 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;">1 </font></font></p>
  </td>
 <td nowrap width=7% 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;">4 </font></font></p>
  </td>
 <td nowrap width=7% 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;">-</font></font></p>
  </td>
 <td nowrap width=7% 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;">4 </font></font></p>
  </td>
 <td nowrap width=7% 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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:6.0pt;">FIDEICOMISO
  F/402770-2 ALAMAR</font></font></p>
  </td>
 <td nowrap width=11% 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;">MEXICO</font></font></p>
  </td>
 <td nowrap width=14% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">42.40 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">42.40 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">8 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">18 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">18 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=17% 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;">FIDEICOMISO 1729
  INVEX ENAJENACION DE CARTERA (1)</font></font></p>
  </td>
 <td nowrap width=11% 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;">MEXICO</font></font></p>
  </td>
 <td nowrap width=14% 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;">REAL ESTATE</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">32.25 </font></font></p>
  </td>
 <td nowrap width=7% 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;">32.25 </font></font></p>
  </td>
 <td nowrap width=7% 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;">12 </font></font></p>
  </td>
 <td nowrap width=7% 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;">182 </font></font></p>
  </td>
 <td nowrap width=7% 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;">-</font></font></p>
  </td>
 <td nowrap width=7% 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;">182 </font></font></p>
  </td>
 <td nowrap width=7% 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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:6.0pt;">PROMOCIONS TERRES
  CAVADES, S.A. </font></font></p>
  </td>
 <td nowrap width=11% 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;">SPAIN</font></font></p>
  </td>
 <td nowrap width=14% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">39.11 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">39.11 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">15 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">15 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=17% 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;">RCI COLOMBIA SA
  COMPA&#209;IA DE FINANCIAMIENTO</font></font></p>
  </td>
 <td nowrap width=11% 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;">COLOMBIA</font></font></p>
  </td>
 <td nowrap width=14% 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;">FINANCIAL SERVICES</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">49.00 </font></font></p>
  </td>
 <td nowrap width=7% 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;">49.00 </font></font></p>
  </td>
 <td nowrap width=7% 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;">37 </font></font></p>
  </td>
 <td nowrap width=7% 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;">514 </font></font></p>
  </td>
 <td nowrap width=7% 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;">439 </font></font></p>
  </td>
 <td nowrap width=7% 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;">67 </font></font></p>
  </td>
 <td nowrap width=7% 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;">8 </font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=17% 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;">VITAMEDICA
  ADMINISTRADORA, S.A. DE C.V </font></font></p>
  </td>
 <td nowrap width=11% 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;">MEXICO</font></font></p>
  </td>
 <td nowrap width=14% 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;">SERVICES</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">51.00 </font></font></p>
  </td>
 <td nowrap width=7% 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;">51.00 </font></font></p>
  </td>
 <td nowrap width=7% 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;">5 </font></font></p>
  </td>
 <td nowrap width=7% 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;">19 </font></font></p>
  </td>
 <td nowrap width=7% 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;">10 </font></font></p>
  </td>
 <td nowrap width=7% 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;">9 </font></font></p>
  </td>
 <td nowrap width=7% 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;">-</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:0cm;margin-right:0cm;margin-top:3.0pt;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:6.0pt;line-height:115%;">(*)&#160; In foreign companies the
exchange rate of December 31, 2019 is applied. </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:6.0pt;line-height:115%;">(1)
Classified as Non-current asset in seld.
</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-179</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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;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:11.0pt;">APPENDIX
III. Changes and notification of participations in the BBVA Group in 2019</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;"><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;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 title="F_I_Anexos.I.IV_III.1_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:33.0pt;">
  <td width=21% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=2 width=29% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Millions of Euros</font></b></font></p>
  </td>
 <td colspan=2 width=16% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">% of Voting rights</font></b></font></p>
  </td>
 <td nowrap width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 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:33.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:44.25pt;">
  <td width=21% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Company</font></b></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Type of transaction</font></b></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Activity</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Price paid in
  the</font></b></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">transactions
  +</font></b></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">expenses directly</font></b></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">attributable
  to the</font></b></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">transactions</font></b></font></p>
  </td>
 <td width=15% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Fair value of
  equity</font></b></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">instruments</font></b></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">issued for
  the</font></b></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">transactions</font></b></font></p>
  </td>
 <td width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">%
  participation (net)</font></b></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">acquired</font></b></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">in the year</font></b></font></p>
  </td>
 <td width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Total voting
  rights</font></b></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">controlled
  after the</font></b></font></p>
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">transactions</font></b></font></p>
  </td>
 <td width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Effective
  date for the transaction (or notification date)</font></b></font></p>
  </td>
 <td width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Category</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=EN-US style="font-size:5.0pt;">DATA
  ARCHITECTURE AND TECHNOLOGY MEXICO SA DE CV</font></font></p>
  </td>
 <td 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 style="font-size:5.0pt;">FOUNDING </font></font></p>
  </td>
 <td 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 style="font-size:5.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;height:9.0pt;padding:0cm 56.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">1</font></font></p>
  </td>
 <td nowrap width=15% style="border:none;height:9.0pt;padding:0cm 56.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">-</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 style="font-size:5.0pt;">100.00%</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 style="font-size:5.0pt;">100.00%</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 style="font-size:6.0pt;">22-Jul-19</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 style="font-size:5.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <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 lang=EN-US style="font-size:5.0pt;">DATA
  ARCHITECTURE&nbsp; AND TECHNOLOGY OPERADORA SA DE CV</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">FOUNDING</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=14% style="height:16.5pt;padding:0cm 56.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:16.5pt;padding:0cm 56.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">100.00%</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">100.00%</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">22-Jul-19</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SUBSIDIARY</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=EN-US style="font-size:5.0pt;">ANTHEMIS BBVA
  VENTURE PARTNERSHIP LLP</font></font></p>
  </td>
 <td 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 style="font-size:5.0pt;">CAPITAL INCREASE</font></font></p>
  </td>
 <td 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 style="font-size:5.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=14% style="height:9.0pt;padding:0cm 56.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">4</font></font></p>
  </td>
 <td nowrap width=15% style="height:9.0pt;padding:0cm 56.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">-</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 style="font-size:5.0pt;">25.00%</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 style="font-size:5.0pt;">100.00%</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 style="font-size:6.0pt;">25-Nov-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 style="font-size:5.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=21% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">BBVA PROCUREMENT
  AMERICA SA DE CV (1)</font></font></p>
  </td>
 <td 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 style="font-size:5.0pt;">FOUNDING </font></font></p>
  </td>
 <td 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 style="font-size:5.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 56.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 56.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">-</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">100.00%</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">100.00%</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">4-Mar-19</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <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:5.0pt;">FIDEICOMISO INMUEBLES
  CONJUNTO RESIDENCIAL HORIZONTES DE VILLA CAMPESTRE</font></font></p>
  </td>
 <td 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 style="font-size:5.0pt;">FOUNDING </font></font></p>
  </td>
 <td 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 style="font-size:5.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=14% style="height:13.5pt;padding:0cm 56.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">1</font></font></p>
  </td>
 <td nowrap width=15% style="height:13.5pt;padding:0cm 56.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">-</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 style="font-size:5.0pt;">100.00%</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 style="font-size:5.0pt;">100.00%</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 style="font-size:6.0pt;">1-Sep-19</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 style="font-size:5.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=21% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin: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;">OPENPAY COLOMBIA SAS</font></font></p>
  </td>
 <td 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 style="font-size:5.0pt;">FOUNDING </font></font></p>
  </td>
 <td 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 style="font-size:5.0pt;">PAYMENT INSTITUTIONS</font></font></p>
  </td>
 <td nowrap width=14% style="height:12.0pt;padding:0cm 56.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap width=15% style="height:12.0pt;padding:0cm 56.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">-</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">100.00%</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">100.00%</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">9-Oct-19</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:8.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;"><font color=#222222 face=Arial,sans-serif style="background:#F8F9FA;border:none;"><font color=#222222 face=Arial,sans-serif lang=EN-US style="background:#F8F9FA;font-size:6.0pt;line-height:107%;">(1) Company incorporated and
liquidated in the same year.</font></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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-GB style="font-size:11.0pt;line-height:115%;">Changes and
notification of participations in the BBVA Group in 2019 (continued)</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;"><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;line-height:115%;">Disposals
or reduction of interest ownership in consolidated subsidiaries</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexos.I.IV_III.2_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td nowrap valign=bottom width=23% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=25% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">% of Voting rights</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:36.0pt;">
  <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Company</font></b></font></p>
  </td>
 <td width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Type of transaction</font></b></font></p>
  </td>
 <td width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Activity</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">in the transaction</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Changes in the equity due to the transaction</font></b></font></p>
  </td>
 <td width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">in the year</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">disposal</font></b></font></p>
  </td>
 <td width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Effective date for the transaction (or notification date)</font></b></font></p>
  </td>
 <td width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">Category</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 style="font-size:6.0pt;">BBVA FRANCES VALORES,
  S.A.</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">MERGER</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">SECURITIES DEALER </font></font></p>
  </td>
 <td nowrap width=12% style="border:none;height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin: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;">100.00%</font></font></p>
  </td>
 <td nowrap width=12% 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 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=right style="border:none;margin: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;">31-Oct-19</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">SUBSIDIARY</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;">ENTIDAD DE PROMOCION
  DE NEGOCIOS SA</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 style="font-size:6.0pt;">LIQUIDATION</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 style="font-size:6.0pt;">OTHER HOLDING</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin: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;">99.88%</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">14-Jun-19</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 style="font-size:6.0pt;">SUBSIDIARY</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=EN-US style="font-size:6.0pt;">BBVA NOMINEES
  LIMITED ( IN LIQUIDATION)</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 style="font-size:6.0pt;">LIQUIDATION</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 style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin: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;">100.00%</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">2-Apr-19</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 style="font-size:6.0pt;">SUBSIDIARY</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 LUXINVEST SA</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 style="font-size:6.0pt;">LIQUIDATION</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 style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin: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;">100.00%</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</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 style="font-size:6.0pt;">2-Sep-19</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 style="font-size:6.0pt;">SUBSIDIARY</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 CONSULTORIA,
  S.A.</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 style="font-size:6.0pt;">LIQUIDATION</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 style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin: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;">100.00%</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin: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;">18-Feb-19</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 style="font-size:6.0pt;">SUBSIDIARY</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;">RENTRUCKS ALQUILER Y
  SERVICIOS DE TRANSPORTE SA</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 style="font-size:6.0pt;">LIQUIDATION</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 style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin: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;">100.00%</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin: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;">30-Apr-19</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 style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=23% 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: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=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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">MERGER</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:14.25pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=12% style="height:14.25pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">30-May-19</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">SUBSIDIARY</font></font></p>
  </td>
 </tr>
<tr style="height:15.95pt;">
  <td width=23% 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 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=8% 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 style="font-size:6.0pt;">MERGER</font></font></p>
  </td>
 <td width=8% 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 style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=12% style="height:15.95pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:15.95pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap width=12% style="height:15.95pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:6.0pt;">30-Nov-19</font></font></p>
  </td>
 <td width=8% 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 style="font-size:6.0pt;">SUBSIDIARY</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;">RESIDENCIAL CUMBRES
  DE SANTA FE, S.A. DE C.V.</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 style="font-size:6.0pt;">MERGER</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 style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin: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;">100.00%</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin: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;">29-Nov-19</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 style="font-size:6.0pt;">SUBSIDIARY</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;">FINANCEIRA DO
  COMERCIO EXTERIOR SAR.</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 style="font-size:6.0pt;">LIQUIDATION</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 style="font-size:6.0pt;">COMMERCIAL</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin: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;">100.00%</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin: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;">21-Jan-19</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 style="font-size:6.0pt;">SUBSIDIARY</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=EN-US 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 align=right style="border:none;margin: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;">LIQUIDATION</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 style="font-size:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin: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;">100.00%</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin: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;">9-May-19</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 style="font-size:6.0pt;">SUBSIDIARY</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;">SERVICIOS
  TECNOLOGICOS SINGULARES, S.A.</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 style="font-size:6.0pt;">LIQUIDATION</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 style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin: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;">100.00%</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin: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;">25-Feb-19</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 style="font-size:6.0pt;">SUBSIDIARY</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;">COPROMED SA DE CV</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 style="font-size:6.0pt;">LIQUIDATION</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 style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin: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;">100.00%</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin: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;">18-Oct-19</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 style="font-size:6.0pt;">SUBSIDIARY</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;">INVERSIONES DE
  INNOVACION EN SERVICIOS FINANCIEROS, S.L.</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 style="font-size:6.0pt;">MERGER</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 style="font-size:6.0pt;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin: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;">100.00%</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin: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;">16-Sep-19</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 style="font-size:6.0pt;">SUBSIDIARY</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;">PERSONAL DATA BANK
  SLU</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 style="font-size:6.0pt;">LIQUIDATION</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 style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin: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;">100.00%</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin: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;">31-Dec-19</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 style="font-size:6.0pt;">SUBSIDIARY</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 PROCUREMENT
  AMERICA SA DE CV (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 style="font-size:6.0pt;">LIQUIDATION</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 style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin: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;">100.00%</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin: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;">11-Dec-19</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 style="font-size:6.0pt;">SUBSIDIARY</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;">GARANTI HIZMET
  YONETIMI AS</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 style="font-size:6.0pt;">LIQUIDATION</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 style="font-size:6.0pt;">FINANCIAL SERVICES</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=13% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin: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;">100.00%</font></font></p>
  </td>
 <td nowrap width=12% style="height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=right style="border:none;margin: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;">23-Dec-19</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 style="font-size:6.0pt;">SUBSIDIARY</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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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_421"></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:6.0pt;page-break-after:avoid;text-align:left;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-GB style="font-size:11.0pt;line-height:115%;">Changes and notification of participations in the
BBVA Group in 2019 (continued)</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;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;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></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexos.I.IV_III.3_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:24.0pt;">
  <td nowrap valign=bottom width=20% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=2 width=26% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">% of Voting rights</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="border:none;border-bottom:solid black 1.0pt;height:24.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Company</font></b></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Activity</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">transactions</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">transactions</font></b></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">transactions</font></b></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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 style="font-size:6.0pt;">PRIVACYCLOUD S.L.</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">ACQUISITION</font></font></p>
  </td>
 <td 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 style="font-size:6.0pt;">SERVICES</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1</font></font></p>
  </td>
 <td nowrap width=13% style="border:none;height:9.0pt;padding:0cm 38.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 style="font-size:6.0pt;">18.10%</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 style="font-size:6.0pt;">20.00%</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 style="font-size:6.0pt;">11-Oct-19</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 style="font-size:6.0pt;">ASSOCIATED</font></font></p>
  </td>
 </tr>
</table></div>



<p align=left style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;text-align:left;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-GB style="font-size:11.0pt;line-height:115%;">Changes
and notification of participations in the BBVA Group in 2019 (continued)</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;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;line-height:115%;">Disposal or
reduction of interest ownership in associates and joint-ventures companies
accounted for under the equity method</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexos.I.IV_III.4_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td nowrap width=27% 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=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% 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=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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=EN-US style="font-size:6.0pt;">&nbsp;</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=12% 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=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% 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=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=27% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=8% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Millions of Euros</font></b></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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">% of Voting rights</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 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:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:33.0pt;">
  <td width=27% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Company</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Type of transaction</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Activity</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">in the transaction</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">in the year</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">disposal</font></b></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Category</font></b></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=27% 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=EN-US style="font-size:6.0pt;">REAL ESTATE
  DEAL II 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 style="font-size:6.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td valign=bottom width=12% 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:6.0pt;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:6.0pt;">20.06%</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% 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 style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% 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 style="font-size:6.0pt;">11-Nov-19</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:6.0pt;">JOINT VENTURE</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=27% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">CANCUN SUN
  &amp; GOLF COUNTRY CLUB, S.A.P.I. 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 style="font-size:6.0pt;">DISPOSAL</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:5.0pt;">10</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:6.0pt;">33.33%</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">31-Dec-19</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:6.0pt;">ASSOCIATED</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=27% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">BANK OF
  HANGZHOU CONSUMER FINANCE CO LTD</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 style="font-size:6.0pt;">DILUTION EFFECT</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BANKING</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:5.0pt;">7</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:6.0pt;">18.10%</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">11.90%</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">29-Jul-19</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:6.0pt;">ASSOCIATED</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=27% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">AXIACOM-CRI,
  S.L. (IN 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 style="font-size:6.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:6.0pt;">50.00%</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">30-Oct-19</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:6.0pt;">JOINT VENTURE</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=27% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">HABITATGES LLULL,
  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 style="font-size:6.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:6.0pt;">50.00%</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">20-Nov-19</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:6.0pt;">JOINT VENTURE</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=27% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">PROMOCIONS CAN
  CATA, S.L. (IN 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 style="font-size:6.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:6.0pt;">64.29%</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">17-Jun-19</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:6.0pt;">JOINT VENTURE</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=27% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">RESIDENCIAL
  SARRIA-BONANOVA, S.L. EN LIQUIDACI&#211;N</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 style="font-size:6.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:6.0pt;">27.22%</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">31-Dec-19</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:6.0pt;">ASSOCIATED</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=27% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">INNOVA 31, S.C.R.,
  S.A.( EN LIQUIDACION)</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 style="font-size:6.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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 SERVICES</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:6.0pt;">27.04%</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">01-Mar-19</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:6.0pt;">ASSOCIATED</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=27% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PROVIURE CZF, 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 style="font-size:6.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:6.0pt;">50.00%</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">31-Dec-19</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:6.0pt;">JOINT VENTURE</font></font></p>
  </td>
 </tr>
<tr style="height:9.0pt;">
  <td width=27% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">PROVIURE CZF PARC
  D'HABITATGES, 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 style="font-size:6.0pt;">LIQUIDATION</font></font></p>
  </td>
 <td valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-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</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:6.0pt;">100.00%</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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:5.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom width=12% style="height:9.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=center style="border:none;margin: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;">31-Dec-19</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:6.0pt;">JOINT VENTURE</font></font></p>
  </td>
 </tr>
</table></div>



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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:11.0pt;">APPENDIX
IV. Fully consolidated subsidiaries with more than 10% owned by non-Group
shareholders as of December 31, 2019</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexos.I.IV_IV.1_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:25.5pt;">
  <td nowrap valign=bottom width=44% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=3 width=42% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=44% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Company</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Activity</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Direct</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Indirect</font></b></font></p>
  </td>
 <td width=14% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=44% 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;">BBVA BANCO
  CONTINENTAL SA</font></font></p>
  </td>
 <td nowrap width=14% 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;">BANKING</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;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 style="font-size:6.0pt;">46.12</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;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 style="font-size:6.0pt;">46.12</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=44% 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;">BANCO PROVINCIAL SA -
  BANCO UNIVERSAL</font></font></p>
  </td>
 <td nowrap width=14% 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;">BANKING</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">1.46</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">53.75</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">55.21</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=44% 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;">INVERSIONES BANPRO
  INTERNATIONAL INC NV</font></font></p>
  </td>
 <td nowrap width=14% 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;">INVESTMENT COMPANY</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">48.00</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">48.00</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=44% 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;">PRO-SALUD, C.A.</font></font></p>
  </td>
 <td nowrap width=14% 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;">NO ACTIVITY</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">58.86</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">58.86</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=44% 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;">INVERSIONES P.H.R.4,
  C.A.</font></font></p>
  </td>
 <td nowrap width=14% 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;">NO ACTIVITY</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">60.46</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">60.46</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=44% 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;">BBVA PREVISION AFP SA
  ADM.DE FONDOS DE PENSIONES</font></font></p>
  </td>
 <td nowrap width=14% 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;">PENSION FUND
  MANAGEMENT</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">75.00</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">5.00</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">80.00</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=44% 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;">COMERCIALIZADORA
  CORPORATIVA SAC</font></font></p>
  </td>
 <td nowrap width=14% 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;">FINANCIAL SERVICES </font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=44% 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;">DISTRITO CASTELLANA
  NORTE, S.A.</font></font></p>
  </td>
 <td nowrap width=14% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">75.54</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">75.54</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=44% 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;">GESTION DE PREVISION
  Y PENSIONES SA</font></font></p>
  </td>
 <td nowrap width=14% 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;">PENSION FUND
  MANAGEMENT</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">60.00</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">60.00</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=44% 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;">F/403035-9 BBVA
  HORIZONTES RESIDENCIAL</font></font></p>
  </td>
 <td nowrap width=14% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">65.00</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">65.00</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=44% 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;">F/253863 EL DESEO
  RESIDENCIAL</font></font></p>
  </td>
 <td nowrap width=14% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">65.00</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">65.00</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=44% 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=EN-US style="font-size:6.0pt;">DATA
  ARCHITECTURE AND TECHNOLOGY S.L.</font></font></p>
  </td>
 <td nowrap width=14% 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;">SERVICES</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">51.00</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">51.00</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=44% 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;">VOLKSWAGEN FINANCIAL
  SERVICES COMPA&#209;IA FINANCIERA SA</font></font></p>
  </td>
 <td nowrap width=14% 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;">BANKING</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">51.00</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">51.00</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=44% 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;">FIDEICOMISO LOTE 6.1
  ZARAGOZA</font></font></p>
  </td>
 <td nowrap width=14% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">59.99</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">59.99</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=44% 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;">F/11395 FIDEICOMISO
  IRREVOCABLE DE ADMINISTRACION CON DERECHO DE REVERSION</font></font></p>
  </td>
 <td nowrap width=14% 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;">REAL ESTATE</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">42.40</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">42.40</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=44% 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=EN-US style="font-size:6.0pt;">VERIDAS DIGITAL
  AUTHENTICATION SOLUTIONS S.L.</font></font></p>
  </td>
 <td nowrap width=14% 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;">SERVICES</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">51.00</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">51.00</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=44% 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;">GARANTI BBVA
  EMEKLILIK AS</font></font></p>
  </td>
 <td nowrap width=14% 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;">INSURANCES</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">84.91</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">84.91</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=44% 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;">FOMENTO Y DESARROLLO
  DE CONJUNTOS RESIDENCIALES S.L. EN LIQUIDACION</font></font></p>
  </td>
 <td nowrap width=14% 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;">IN LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">60.00</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">60.00</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=44% 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;">BBVA INFORMATION
  TECHNOLOGY ESPA&#209;A SL</font></font></p>
  </td>
 <td nowrap width=14% 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;">SERVICES</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">76.00</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">76.00</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=44% 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=EN-US style="font-size:6.0pt;">JALE PROCAM,
  S.L. (IN LIQUIDATION)</font></font></p>
  </td>
 <td nowrap width=14% 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;">IN LIQUIDATION</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 </tr>
<tr style="height:11.1pt;">
  <td nowrap valign=bottom width=44% 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;">PSA FINANCE ARGENTINA
  COMPA&#209;IA FINANCIERA SA</font></font></p>
  </td>
 <td nowrap width=14% 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;">BANKING</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:6.0pt;">50.00</font></font></p>
  </td>
 </tr>
</table></div>



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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:11.0pt;">APPENDIX V. BBVA Group&#8217;s structured entities.
Securitization funds</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.V_V.1_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:14.25pt;">
  <td nowrap valign=bottom width=30% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=18% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=18% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">origination 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">exposures as of December 31, 2019 (*)</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 style="font-size:6.0pt;">AYT HIPOTECARIO MIXTO
  IV, FTA</font></font></p>
  </td>
 <td width=18% 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 style="font-size:6.0pt;">BBVA, S.A.</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 style="font-size:6.0pt;">06/2005</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 style="font-size:6.0pt;">100</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 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 style="font-size:6.0pt;">AYT HIPOTECARIO
  MIXTO, FTA</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">10</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;">BBVA CONSUMER AUTO
  2018-1</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">736</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;">BBVA CONSUMO 7 FTA</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">BBVA CONSUMO 8 FT</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">337</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;">BBVA CONSUMO 9 FT</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">850</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;">BBVA EMPRESAS 4 FTA</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 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 style="font-size:6.0pt;">BBVA LEASING 1 FTA</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 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 style="font-size:6.0pt;">BBVA RMBS 1 FTA</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">897</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;">BBVA RMBS 10 FTA</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">1,076</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;">BBVA RMBS 11 FTA</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">940</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;">BBVA RMBS 12 FTA</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">2,959</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;">BBVA RMBS 13 FTA</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">2,908</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;">BBVA RMBS 14 FTA</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">447</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;">BBVA RMBS 15 FTA</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">2,945</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;">BBVA RMBS 16 FT</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">1,245</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;">BBVA RMBS 17 FT</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">1,460</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;">BBVA RMBS 18 FT</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">1,582</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;">BBVA RMBS 2 FTA</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">1,664</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;">BBVA RMBS 3 FTA</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">1,312</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;">BBVA RMBS 5 FTA</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">2,187</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;">BBVA RMBS 9 FTA</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">788</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;">BBVA VELA SME 2018</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">873</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;">BBVA-6 FTPYME FTA</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">8</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;">FTA TDA-22 MIXTO</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">22</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;">FTA TDA-27</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">79</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;">FTA TDA-28</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">76</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=EN-US style="font-size:6.0pt;">GAT ICO FTVPO
  1, F.T.H</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 style="font-size:6.0pt;">06/2009</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 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 style="font-size:6.0pt;">64</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;">HIPOCAT 10 FTA</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">253</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;">HIPOCAT 11 FTA</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">263</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;">HIPOCAT 7 FTA</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">192</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;">HIPOCAT 8 FTA</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">227</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;">HIPOCAT 9 FTA</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">176</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;">TDA 19 FTA</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">21</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;">TDA 20-MIXTO, FTA</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">12</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;">TDA 23 FTA</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">45</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;">TDA TARRAGONA 1 FTA</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">103</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;">VELA CORPORATE 2018-1</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 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 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 style="font-size:6.0pt;">469</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;">BBVA Consumo 10FT</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 style="font-size:6.0pt;">07/2019</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 style="font-size:6.0pt;">2,000</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 style="font-size:6.0pt;">1,946</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;">BBVA RMBS 19 FT</font></font></p>
  </td>
 <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">BBVA, S.A.</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 style="font-size:6.0pt;">11/2019</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 style="font-size:6.0pt;">2,000</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 style="font-size:6.0pt;">1,983</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 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-183</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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 title="F_I_Anexo.V_V.2_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:14.25pt;">
  <td nowrap valign=bottom width=32% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=17% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">origination 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">exposures as of December 31, 2019 (*)</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 style="font-size:6.0pt;">FTA TDA-18 MIXTO</font></font></p>
  </td>
 <td 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 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 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 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 style="font-size:6.0pt;">10</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:6.0pt;">HIPOCAT 6 FTA</font></font></p>
  </td>
 <td 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 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 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 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 style="font-size:6.0pt;">93</font></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:6.0pt;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:6.0pt;">(*)
Solvency scope.
</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="_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-184</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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:11.0pt;">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,
2019, 2018 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:11.0pt;">7 </font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;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;line-height:115%;">Outstanding as
of December 31, 2019, 2018, and 2017 of subordinated issues</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.VI_VI.1_F_XBRL" style="border-collapse:collapse;width:100%;">
 <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 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">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:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:39.0pt;">
  <td width=34% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Currency</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">December 2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">December 2017</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">as of December 31, 2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Date</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=34% 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 style="font-size:7.0pt;">Issues in Euros</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=#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 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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 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: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: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=#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 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=#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 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=#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>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=34% 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 style="font-size:8.0pt;">BANCO BILBAO
  VIZCAYA ARGENTARIA, 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=#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 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=#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 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=#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 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=#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 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=#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 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=#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>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=34% 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;">February-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 style="font-size:7.0pt;">EUR</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 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 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 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 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 style="font-size:7.0pt;">16-Feb-22</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=34% 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;">March-08</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 style="font-size:7.0pt;">EUR</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 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 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 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 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 style="font-size:7.0pt;">03-Mar-33</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=34% 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;">July-08</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 style="font-size:7.0pt;">EUR</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 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 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 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 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 style="font-size:7.0pt;">4-Jul-23</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=34% 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;">February-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 style="font-size:7.0pt;">EUR</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 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 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 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 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 style="font-size:7.0pt;">Perpetual</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=34% 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;">April-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 style="font-size:7.0pt;">EUR</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 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 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 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 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 style="font-size:7.0pt;">11-Apr-24</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=34% 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;">February-15</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 style="font-size:7.0pt;">EUR</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 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 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 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 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 style="font-size:7.0pt;">Perpetual</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=34% 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;">April-16</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 style="font-size:7.0pt;">EUR</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 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 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 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 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 style="font-size:7.0pt;">Perpetual</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=34% 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;">February-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 style="font-size:7.0pt;">EUR</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 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 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 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 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 style="font-size:7.0pt;">10-Feb-27</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=34% 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;">February-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 style="font-size:7.0pt;">EUR</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 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 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 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 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 style="font-size:7.0pt;">24-Feb-32</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=34% 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;">May-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 style="font-size:7.0pt;">EUR</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 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 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 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 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 style="font-size:7.0pt;">24-May-27</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=34% 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;">May-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 style="font-size:7.0pt;">EUR</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 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 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 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 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 style="font-size:7.0pt;">Perpetual</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=34% 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;">September-18</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 style="font-size:7.0pt;">EUR</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 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 style="font-size:7.0pt;">990</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 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 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 style="font-size:7.0pt;">Perpetual</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=34% 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;">February-19</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 style="font-size:7.0pt;">EUR</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 style="font-size:7.0pt;">750</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 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 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 style="font-size:7.0pt;">2.58%</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 style="font-size:7.0pt;">22-Feb-29</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=34% 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;">March-19</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 style="font-size:7.0pt;">EUR</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 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 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 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 style="font-size:7.0pt;">6.00%</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 style="font-size:7.0pt;">Perpetual</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=34% 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 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 style="font-size:7.0pt;">EUR</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 style="font-size:7.0pt;">379</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 style="font-size:7.0pt;">384</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 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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin: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=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 style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=34% style="background:#5AC4C4;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 style="font-size:7.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">EUR</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">7,668</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">8,906</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">8,171</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td nowrap valign=bottom width=34% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">BBVA
  SUBORDINATED CAPITAL, S.A.U. (*)</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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US 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=EN-US style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=34% 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;">October-05</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 style="font-size:7.0pt;">EUR</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 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 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 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 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 style="font-size:7.0pt;">13-Oct-20</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td valign=bottom width=34% 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 style="font-size:7.0pt;">July-08</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 style="font-size:7.0pt;">EUR</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 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 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 style="font-size:7.0pt;">20</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 style="font-size:7.0pt;">6.11%</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 style="font-size:7.0pt;">22-Jul-18</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=34% style="background:#5AC4C4;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 style="font-size:7.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">EUR</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">119</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=34% style="background:#5AC4C4;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 style="font-size:7.0pt;">Total issues in euros</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">EUR</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">7,668</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">8,906</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">8,290</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:10.0pt;margin-left:21.25pt;margin-right:0cm;margin-top:6.0pt;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:6.0pt;line-height:115%;">(*)&#160;&#160; The issuances of BBVA Subordinated Capital, S.A.U. are
jointly, severally and unconditionally guaranteed by the Bank.
</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-185</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</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>
<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;"><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;">Outstanding as of December 31, 2019, 2018, and 2017
of subordinated issues (continued)</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.VI_VI.2_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:14.25pt;">
  <td nowrap valign=bottom width=34% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Millions of Euros</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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td width=34% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Currency</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">December 2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">2018</font></b></font></p>
  </td>
 <td width=11% style="border:none;border-bottom:solid black 1.0pt;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">December 2017</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">as of December 31, 2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Date</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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: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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin: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=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 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: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 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 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: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>
 </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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">BANCO BILBAO
  VIZCAYA ARGENTARIA, S.A</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 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: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 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 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: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 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 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: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>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=34% style="border:none;height:12.75pt;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;">May-13</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 style="font-size:7.0pt;">USD</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">1,251</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 style="font-size:7.0pt;">9.00%</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 style="font-size:7.0pt;">Perpetual</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=34% style="height:12.75pt;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;">March-17</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 style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">107</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:7.0pt;">100</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">5.70%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">31-Mar-32</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=34% style="height:12.75pt;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;">November-17</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 style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">890</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">873</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:7.0pt;">6.13%</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 style="font-size:7.0pt;">Perpetual</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=34% style="height:12.75pt;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;">May-18</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 style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">265</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">5.25%</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 style="font-size:7.0pt;">29-May-33</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=34% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">September-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=center style="border:none;margin: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;">USD</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 style="font-size:7.0pt;">890</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">6.50%</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 style="font-size:7.0pt;">Perpetual</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=34% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:7.0pt;">USD</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">2,152</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">1,238</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">2,185</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 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=11% style="background:#5AC4C4;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 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>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=34% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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: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 style="font-size:7.0pt;">CHF</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 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 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 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 style="font-size:7.0pt;">1.60%</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 style="font-size:7.0pt;">24-May-27</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=34% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:7.0pt;">CHF</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">18</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">18</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">17</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 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=11% style="background:#5AC4C4;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 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>
 </tr>
<tr style="height:12.75pt;">
  <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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: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 0cm 0cm 0cm;">
  <p align=right style="border:none;margin: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=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 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: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 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 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: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>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=34% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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: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 style="font-size:7.0pt;">USD</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 style="font-size:7.0pt;">177</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 style="font-size:7.0pt;">169</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 style="font-size:7.0pt;">162</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 style="font-size:7.0pt;">7.00%</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 style="font-size:7.0pt;">01-Dec-25</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=34% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:7.0pt;">USD</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">177</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">169</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">162</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 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=11% style="background:#5AC4C4;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 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>
 </tr>
<tr style="height:18.75pt;">
  <td valign=bottom width=34% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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;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=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: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=11% 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=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: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=11% 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=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>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=34% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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: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 style="font-size:7.0pt;">CLP</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">574</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 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: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>
 </tr>
<tr style="height:12.75pt;">
  <td width=34% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:7.0pt;">CLP</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">574</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 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=11% style="background:#5AC4C4;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 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>
 </tr>
<tr style="height:27.75pt;">
  <td valign=bottom width=34% style="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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">BBVA BANCOMER, S.A.
  INSTITUCION DE BANCA MULTIPLE GRUPO FINANCIERO BBVA BANCOMER</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=34% style="border:none;height:12.75pt;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;">April-10</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 style="font-size:7.0pt;">USD</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 style="font-size:7.0pt;">667</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 style="font-size:7.0pt;">874</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 style="font-size:7.0pt;">831</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 style="font-size:7.0pt;">7.25%</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 style="font-size:7.0pt;">22-Apr-20</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=34% style="height:12.75pt;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;">March-11</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 style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:7.0pt;">1,092</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,039</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">6.50%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">10-Mar-21</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=34% style="height:12.75pt;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;">July-12</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 style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,333</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,311</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,247</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">6.75%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">30-Sep-22</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=34% style="height:12.75pt;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;">November-14</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 style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">178</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:7.0pt;">166</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">5.35%</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">12-Nov-29</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=34% style="height:12.75pt;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;">January-18</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 style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">889</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">874</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">5.13%</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 style="font-size:7.0pt;">18-Jan-33</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=34% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">September-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=center style="border:none;margin: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;">USD</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 style="font-size:7.0pt;">667</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">5.875%</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 style="font-size:7.0pt;">13-Sep-34</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=34% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:7.0pt;">USD</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">4,401</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">4,325</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">3,283</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 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=11% style="background:#5AC4C4;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 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>
 </tr>
<tr style="height:12.75pt;">
  <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">BANCO BILBAO
  VIZCAYA ARGENTARIA URUGUAY</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 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:12.75pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <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:12.75pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <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:12.75pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=34% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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: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 style="font-size:7.0pt;">USD</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 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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">-</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 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: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>
 </tr>
<tr style="height:12.75pt;">
  <td width=34% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:7.0pt;">USD</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">2</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 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=11% style="background:#5AC4C4;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 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>
 </tr>
<tr style="height:12.75pt;">
  <td 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 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: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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <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:12.75pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <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:12.75pt;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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 0cm 0cm 0cm;">
  <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>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=34% style="border:none;height:12.75pt;padding:0cm 2.0pt 0cm 11.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">November-14</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 style="font-size:7.0pt;">USD</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 style="font-size:7.0pt;">18</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 style="font-size:7.0pt;">19</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 style="font-size:7.0pt;">17</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 style="font-size:7.0pt;">6.75%</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 style="font-size:7.0pt;">05-Nov-21</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=34% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif 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: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 style="font-size:7.0pt;">USD</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 style="font-size:7.0pt;">22</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 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 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 style="font-size:7.0pt;">6.70%</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 style="font-size:7.0pt;">18-Nov-22</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=34% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:7.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:7.0pt;">USD</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">40</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">42</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">38</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 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=11% style="background:#5AC4C4;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 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>
 </tr>
</table></div>



<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:6.0pt;line-height:115%;">(*)&#160;&#160; The issuances of BBVA Global
Finance, Ltd, are guaranteed (secondary liability) by the Bank</font></font></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:6.0pt;line-height:115%;">(**) The
&#8364;574 million subordinated issuances of BBVA Chile as of December 2017 were
recorded in the heading &quot;Liabilities included in disposal groups
classified as held for sale&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:6.0pt;line-height:115%;">(***) The amount of 2019 is
recorded under the heading &#8220;Liabilities included in disposal groups classified
as held for sale&#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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_427"></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:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;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;">Outstanding as of December 31, 2019, 2018, and 2017
of subordinated issues</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.VI_VI.3_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap width=42% 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=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=3 width=30% 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 style="font-size:8.0pt;">Millions of Euros</font></b></font></p>
  </td>
 <td width=9% 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=#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: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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=42% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&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 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 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:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 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:12.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:52.5pt;">
  <td width=42% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Issuer entity
  and issued date (continued)</font></b></font></p>
  </td>
 <td width=10% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Currency</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 2019</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 2018</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 2017</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Prevailing Interest Rate </font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">as of December 31, 2019</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:52.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Maturity</font></b></font></p>
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Date</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=42% 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 style="font-size:8.0pt;">COMPASS BANK</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=center style="border:none;margin: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 valign=bottom 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=42% 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:8.0pt;">March-05</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;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 style="font-size:8.0pt;">USD</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">203</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">199</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">190</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">5.50%</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;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 style="font-size:8.0pt;">01-Apr-20</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=42% 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:8.0pt;">March-06</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">USD</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">63</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">62</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">59</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5.90%</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">01-Apr-26</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=42% 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 style="font-size:8.0pt;">April-15</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=center style="border:none;margin: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;">USD</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">623</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">611</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">584</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">3.88%</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">10-Apr-25</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=42% style="background:#5AC4C4;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 style="font-size:8.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">USD</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">889</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">872</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">833</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=42% 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 style="font-size:8.0pt;">BBVA COLOMBIA, S.A.</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=center style="border:none;margin: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 valign=bottom 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=42% 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:8.0pt;">September-11</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;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 style="font-size:8.0pt;">COP</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">28</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">8.31%</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;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 style="font-size:8.0pt;">19-Sep-18</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=42% 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:8.0pt;">September-11</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">COP</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">29</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">28</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">30</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">8.48%</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">19-Sep-21</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=42% 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:8.0pt;">September-11</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">COP</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">42</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">42</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">44</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">8.72%</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">19-Sep-26</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=42% 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:8.0pt;">February-13</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">COP</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">54</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">53</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">56</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7.65%</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">19-Feb-23</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=42% 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:8.0pt;">February-13</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">COP</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">45</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">44</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">46</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7.93%</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">19-Feb-28</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=42% 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:8.0pt;">November-14</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">COP</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">24</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">24</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">25</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">8.53%</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">26-Nov-29</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=42% 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 style="font-size:8.0pt;">November-14</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=center style="border:none;margin: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;">COP</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">34</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">43</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">45</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">8.41%</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">26-Nov-34</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=42% style="background:#5AC4C4;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 style="font-size:8.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">COP</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">229</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">233</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">273</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=42% 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 style="font-size:8.0pt;">April-15</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=center style="border:none;margin: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;">USD</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">333</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">332</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">313</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">4.88%</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">21-Apr-25</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=42% style="background:#5AC4C4;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 style="font-size:8.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">USD</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">333</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">332</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">313</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=42% 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 style="font-size:8.0pt;">BANCO CONTINENTAL,
  S.A.</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=center style="border:none;margin: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 valign=bottom 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=42% 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:8.0pt;">June-07</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;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 style="font-size:8.0pt;">PEN</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">22</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">20</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">20</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">3.47%</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;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 style="font-size:8.0pt;">18-Jun-32</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=42% 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:8.0pt;">November-07</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">PEN</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">19</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">18</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">18</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3.56%</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">19-Nov-32</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=42% 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:8.0pt;">July-08</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">PEN</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">17</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">16</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">16</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3.06%</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">08-Jul-23</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=42% 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:8.0pt;">September-08</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">PEN</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">18</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">17</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">17</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3.09%</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">09-Sep-23</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=42% 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 style="font-size:8.0pt;">December-08</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=center style="border:none;margin: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;">PEN</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">11</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">10</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">10</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">4.19%</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">15-Dec-33</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=42% style="background:#5AC4C4;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 style="font-size:8.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">PEN</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">87</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">82</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">80</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=42% 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:8.0pt;">May-07</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;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 style="font-size:8.0pt;">USD</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">18</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">17</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">17</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">6.00%</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;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 style="font-size:8.0pt;">14-May-27</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=42% 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:8.0pt;">February-08</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:8.0pt;">USD</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">18</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">18</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">17</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">6.47%</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">28-Feb-28</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=42% 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 style="font-size:8.0pt;">October-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=center style="border:none;margin: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;">USD</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">41</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">40</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">38</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">6.53%</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">02-Oct-28</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=42% 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 style="font-size:8.0pt;">September-14</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=center style="border:none;margin: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;">USD</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">269</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">252</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">244</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">5.25%</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">22-Sep-29</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=42% style="background:#5AC4C4;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 style="font-size:8.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">USD</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">346</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">328</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">315</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=42% 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 style="font-size:8.0pt;">TURKIYE GARANTI
  BANKASI A.S.</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=center style="border:none;margin: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 valign=bottom 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap valign=bottom 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;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=42% 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 style="font-size:8.0pt;">May-17</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=center style="border:none;margin: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;">USD</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">664</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">652</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">623</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">6.13%</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">24-May-27</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=42% style="background:#5AC4C4;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 style="font-size:8.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">USD</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">664</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">652</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">623</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=42% 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 style="font-size:8.0pt;">October-19</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=center style="border:none;margin: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;">TRY</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">38</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap valign=bottom 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 style="font-size:8.0pt;">13.64%</font></font></p>
  </td>
 <td nowrap valign=bottom width=9% style="background:white;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">07-Oct-29</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=42% style="background:#5AC4C4;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 style="font-size:8.0pt;">Subtotal</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">TRY</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">38</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <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 style="font-size:8.0pt;">-</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=42% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Total issues in
  foreign currencies(Millions of Euros)</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">EUR</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">9,376</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">8,291</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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=white face=Arial,sans-serif style="border:none;"><b><font color=white face=Arial,sans-serif style="font-size:8.0pt;">8,695</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:22.5pt;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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:22.5pt;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 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: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%;">&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-187</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_428"></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:0cm;margin-right:0cm;margin-top:6.0pt;page-break-after:avoid;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;">Outstanding as of December 31, 2019, 2018, and 2017
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 title="F_I_Anexo.VI_VI.4_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.0pt;">
  <td nowrap width=46% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">December 2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">December 2017</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 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=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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;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 style="font-size:7.0pt;">BBVA COLOMBIA SA</font></b></font></p>
  </td>
 <td nowrap width=9% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td 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 style="font-size:7.0pt;">December-93</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">COP</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">20</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">COP</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">19</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">COP</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">BBVA
  International Preferred, S.A.U.</font></b></font></p>
  </td>
 <td nowrap width=9% 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=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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=EN-US style="font-size:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td 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 style="font-size:7.0pt;">July-07</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=center style="border:none;margin: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;">37</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=center style="border:none;margin: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;">35</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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=center style="border:none;margin: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;">35</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Phoenix Loan
  Holdings Inc.</font></b></font></p>
  </td>
 <td nowrap width=9% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td 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 style="font-size:7.0pt;">November-00</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">19</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">18</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">USD</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">18</font></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Caixa Terrasa
  Societat de Participacion</font></b></font></p>
  </td>
 <td nowrap width=9% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">August-05</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">28</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">52</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">51</font></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Caixasabadell
  Preferents, S.A.</font></b></font></p>
  </td>
 <td nowrap width=9% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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:7.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">July-06</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">56</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">56</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">EUR</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">56</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:7.0pt;">Others</font></b></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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:14.0pt;margin-left:0cm;margin-right:0cm;margin-top:14.0pt;page-break-after:avoid;text-align:justify;"><a name="_Toc495478178"></a><a name="_Toc481589126"></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: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:11.0pt;">APPENDIX
VII Consolidated balance sheets held in foreign currency as of December 31,
2019, 2018 and 2017.</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.VII_1dic_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:7.0pt;">December 2019
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td width=30% 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Turkish lira</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">currencies</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">currencies</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=30% 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 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 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 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 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 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 style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td valign=bottom width=30% 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 lang=EN-US 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: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 style="font-size:7.0pt;">16,930</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">4,414</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">499</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">5,330</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">27,173</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=30% 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=EN-US style="font-size:7.0pt;">Financial
  assets held for trading</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">5,549</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">18,543</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">242</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">5,257</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">29,591</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td valign=bottom width=30% 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 lang=EN-US 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 style="font-size:7.0pt;">900</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 style="font-size:7.0pt;">3,509</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 style="font-size:7.0pt;">4</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 style="font-size:7.0pt;">116</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 style="font-size:7.0pt;">4,529</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td valign=bottom width=30% 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 lang=EN-US 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 style="font-size:7.0pt;">14,269</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 style="font-size:7.0pt;">6,178</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 style="font-size:7.0pt;">2,748</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 style="font-size:7.0pt;">5,541</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 style="font-size:7.0pt;">28,735</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap valign=bottom width=30% 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=EN-US style="font-size:7.0pt;">Financial
  assets at amortized cost</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">107,865</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">56,963</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">29,125</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">35,906</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">229,859</font></font></p>
  </td>
 </tr>
<tr style="height:10.5pt;">
  <td nowrap valign=bottom width=30% 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;">Joint ventures and
  associates</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">5</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">20</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">-</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">252</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">277</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=30% 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 style="font-size:7.0pt;">Tangible assets</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">921</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">2,214</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">1,050</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">1,026</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">5,211</font></font></p>
  </td>
 </tr>
<tr style="height:9.75pt;">
  <td nowrap valign=bottom width=30% 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 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: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 style="font-size:7.0pt;">1,946</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">2,147</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">1,174</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">5,508</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">10,775</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=30% style="background:#5AC4C4;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 style="font-size:7.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">148,384</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">93,989</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">34,842</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">58,934</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">336,149</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=30% 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 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 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 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 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 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 style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=30% 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=EN-US style="font-size:7.0pt;">Financial
  liabilities held for trading</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">4,063</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">16,064</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">170</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">2,465</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">22,762</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=30% 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=EN-US style="font-size:7.0pt;">Financial
  liabilities at amortized cost</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">136,661</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">54,733</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">20,681</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">36,758</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">248,834</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td nowrap valign=bottom width=30% 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 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: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 style="font-size:7.0pt;">5,555</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">6,757</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">881</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">8,172</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">21,365</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=30% style="background:#5AC4C4;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 style="font-size:7.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">146,280</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">77,555</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">21,732</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">47,394</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">292,961</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 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 title="F_I_Anexo.VII_VII.1_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:7.0pt;">December 2018
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td width=30% 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Turkish lira</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">currencies</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">currencies</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=30% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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: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;"><b><font color=black face=Arial,sans-serif 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: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;"><b><font color=black face=Arial,sans-serif 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: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;"><b><font color=black face=Arial,sans-serif 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: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;"><b><font color=black face=Arial,sans-serif 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: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;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td valign=bottom width=30% 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 lang=EN-US 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: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 style="font-size:7.0pt;">15,184</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">6,869</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">476</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">5,547</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">28,076</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=30% 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=EN-US style="font-size:7.0pt;">Financial
  assets held for trading</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">3,133</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">15,500</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">366</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">3,614</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">22,614</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td valign=bottom width=30% 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 lang=EN-US 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 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 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 style="font-size:7.0pt;">3</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 style="font-size:7.0pt;">58</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 style="font-size:7.0pt;">3,014</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td valign=bottom width=30% 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 lang=EN-US 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 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 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 style="font-size:7.0pt;">3,031</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 style="font-size:7.0pt;">2,931</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 style="font-size:7.0pt;">27,232</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=30% 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=EN-US style="font-size:7.0pt;">Financial
  assets at amortized cost</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">101,366</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">47,550</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">28,094</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">34,075</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">211,085</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=30% 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;">Joint-ventures and
  associates</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">5</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">54</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">-</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">267</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">326</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=30% 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;">Tangible assets</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">670</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">1,964</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">1,007</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">850</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">4,490</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=30% 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;">Other assets</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3,444</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,911</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,361</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,879</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">10,595</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=30% style="background:#5AC4C4;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:7.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">141,019</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">81,856</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">34,336</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">50,221</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">307,433</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=30% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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: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;"><b><font color=black face=Arial,sans-serif 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: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;"><b><font color=black face=Arial,sans-serif 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: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;"><b><font color=black face=Arial,sans-serif 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: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;"><b><font color=black face=Arial,sans-serif 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: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;"><b><font color=black face=Arial,sans-serif style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=30% 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=EN-US style="font-size:7.0pt;">Financial
  liabilities held for trading</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">2,372</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">13,626</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">360</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">1,507</font></font></p>
  </td>
 <td nowrap width=14% 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 style="font-size:7.0pt;">17,864</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=30% 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=EN-US style="font-size:7.0pt;">Financial
  liabilities at amortized cost</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">136,307</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">48,169</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">20,878</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">37,342</font></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;"><font color=black face=Arial,sans-serif style="font-size:7.0pt;">242,696</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=30% 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;">Other liabilities</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3,874</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">6,081</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">750</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">7,200</font></font></p>
  </td>
 <td nowrap width=14% style="border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">17,904</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=30% style="background:#5AC4C4;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:7.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">142,552</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">67,876</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">21,987</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">46,049</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:7.0pt;">278,464</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>


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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-189</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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 title="F_I_Anexo.VII_VII.2anual_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:7.0pt;">December 2017 (Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:30.0pt;">
  <td width=30% 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Turkish Lira</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Currencies</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Currencies</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=30% 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 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 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 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 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 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 style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td valign=bottom width=30% style="border:none;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 lang=EN-US 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 style="font-size:7.0pt;">17,111</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 style="font-size:7.0pt;">4,699</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 style="font-size:7.0pt;">827</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 style="font-size:7.0pt;">4,264</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 style="font-size:7.0pt;">26,902</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap 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=EN-US 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 style="font-size:7.0pt;">2,085</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 style="font-size:7.0pt;">14,961</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 style="font-size:7.0pt;">484</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 style="font-size:7.0pt;">4,583</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 style="font-size:7.0pt;">22,113</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap 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=EN-US style="font-size:7.0pt;">Available-for-sale
  financial 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 style="font-size:7.0pt;">14,218</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 style="font-size:7.0pt;">8,051</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 style="font-size:7.0pt;">4,904</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 style="font-size:7.0pt;">3,010</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 style="font-size:7.0pt;">30,183</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap 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:7.0pt;">Loans and receivables</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 style="font-size:7.0pt;">93,069</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 style="font-size:7.0pt;">39,717</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 style="font-size:7.0pt;">32,808</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 style="font-size:7.0pt;">34,488</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 style="font-size:7.0pt;">200,081</font></font></p>
  </td>
 </tr>
<tr style="height:19.5pt;">
  <td nowrap valign=bottom width=30% 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 lang=EN-US style="font-size:7.0pt;">Investments in
  entities accounted for using the equity method</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 style="font-size:7.0pt;">5</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 style="font-size:7.0pt;">124</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 style="font-size:7.0pt;">-</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 style="font-size:7.0pt;">147</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 style="font-size:7.0pt;">276</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap 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: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 style="font-size:7.0pt;">659</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 style="font-size:7.0pt;">1,953</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 style="font-size:7.0pt;">1,289</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 style="font-size:7.0pt;">673</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 style="font-size:7.0pt;">4,573</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=30% 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: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 style="font-size:7.0pt;">7,309</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 style="font-size:7.0pt;">5,041</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 style="font-size:7.0pt;">4,426</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 style="font-size:7.0pt;">18,662</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 style="font-size:7.0pt;">35,438</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=30% style="background:#5AC4C4;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 style="font-size:7.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">134,456</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">74,546</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">44,738</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">65,826</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">319,566</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=30% 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 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 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 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 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 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 style="font-size:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap 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 lang=EN-US 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 style="font-size:7.0pt;">935</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 style="font-size:7.0pt;">5,714</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 style="font-size:7.0pt;">506</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 style="font-size:7.0pt;">533</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 style="font-size:7.0pt;">7,688</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap 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=EN-US 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 style="font-size:7.0pt;">135,546</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 style="font-size:7.0pt;">51,492</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 style="font-size:7.0pt;">27,079</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 style="font-size:7.0pt;">39,062</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 style="font-size:7.0pt;">253,178</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap valign=bottom width=30% 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: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 style="font-size:7.0pt;">3,907</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 style="font-size:7.0pt;">8,720</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 style="font-size:7.0pt;">1,039</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 style="font-size:7.0pt;">16,593</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 style="font-size:7.0pt;">30,259</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=30% style="background:#5AC4C4;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 style="font-size:7.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">140,387</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">65,926</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">28,623</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">56,188</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:7.0pt;">291,124</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="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:115%;">&#160;&nbsp;</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:avoid;text-align:justify;"><a name="_Toc481589129"></a><a name="_Toc495478180"></a><a name="_Toc505356001"></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-190</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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;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:11.0pt;">APPENDIX VIII.&#160;&#160; 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;page-break-after:avoid;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;line-height:normal;">a).&#160;&#160;
Quantitative information on refinancing and restructuring operations</font></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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The breakdown of refinancing and
restructuring operations as of December 31, 2019, 2018 and 2017 is as follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.XI_001a_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:19.5pt;">
  <td valign=bottom width=26% style="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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">DECEMBER 2019 BALANCE OF FORBEARANCE</font></b></font></p>
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&#160;&#160;&#160; (Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td valign=bottom width=26% style="height:15.75pt;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=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">TOTAL</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td valign=bottom width=26% style="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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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 valign=bottom width=26% style="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 lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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 valign=bottom width=26% style="height:27.75pt;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=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Rest of secured loans</font></b></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 style="font-size:6.0pt;">Credit institutions</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 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 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 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 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 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 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 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 style="font-size:6.0pt;">General Governments</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 style="font-size:6.0pt;">73</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 style="font-size:6.0pt;">93</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 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 style="font-size:6.0pt;">64</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 style="font-size:6.0pt;">49</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 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 style="font-size:6.0pt;">11</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 lang=EN-US style="font-size:6.0pt;">Other financial
  corporations and individual entrepreneurs (financial business)</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 style="font-size:6.0pt;">387</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 style="font-size:6.0pt;">8</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 style="font-size:6.0pt;">62</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 style="font-size:6.0pt;">4</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 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 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 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 lang=EN-US style="font-size:6.0pt;">Non-financial
  corporations and individual entrepreneurs (corporate non-financial activities)</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 style="font-size:6.0pt;">68,121</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 style="font-size:6.0pt;">5,085</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 style="font-size:6.0pt;">18,283</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 style="font-size:6.0pt;">3,646</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 style="font-size:6.0pt;">1,810</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 style="font-size:6.0pt;">178</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 style="font-size:6.0pt;">3,252</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 lang=EN-US style="font-size:6.0pt;">Of which:
  financing the construction and property (including land)</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 style="font-size:6.0pt;">1,131</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 style="font-size:6.0pt;">400</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 style="font-size:6.0pt;">1,314</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 style="font-size:6.0pt;">688</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 style="font-size:6.0pt;">393</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 style="font-size:6.0pt;">32</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 style="font-size:6.0pt;">428</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 style="font-size:6.0pt;">Other households (*)</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 style="font-size:6.0pt;">173,403</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 style="font-size:6.0pt;">1,510</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 style="font-size:6.0pt;">67,513</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 style="font-size:6.0pt;">5,827</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 style="font-size:6.0pt;">4,414</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 style="font-size:6.0pt;">33</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 style="font-size:6.0pt;">1,519</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=26% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">241,984</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">6,696</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">85,922</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">9,541</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">6,276</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">211</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">4,788</font></b></font></p>
  </td>
 </tr>
</table></div>



<p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.XI_001b_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:17.25pt;">
  <td nowrap valign=bottom width=26% style="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 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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 lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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="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 lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Rest of secured loans</font></b></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 style="font-size:6.0pt;">Credit institutions</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 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 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 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 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 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 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 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 style="font-size:6.0pt;">General Governments</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 style="font-size:6.0pt;">45</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 style="font-size:6.0pt;">41</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 style="font-size:6.0pt;">30</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 style="font-size:6.0pt;">21</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 style="font-size:6.0pt;">16</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 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 style="font-size:6.0pt;">7</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 lang=EN-US style="font-size:6.0pt;">Other financial
  corporations and individual entrepreneurs (financial business)</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 style="font-size:6.0pt;">241</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 style="font-size:6.0pt;">6</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 style="font-size:6.0pt;">30</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 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 style="font-size:6.0pt;">1</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 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 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 lang=EN-US style="font-size:6.0pt;">Non-financial
  corporations and individual entrepreneurs (corporate non-financial
  activities)</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 style="font-size:6.0pt;">39,380</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 style="font-size:6.0pt;">3,148</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 style="font-size:6.0pt;">11,706</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 style="font-size:6.0pt;">2,466</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 style="font-size:6.0pt;">1,020</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 style="font-size:6.0pt;">50</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 style="font-size:6.0pt;">2,923</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 lang=EN-US style="font-size:6.0pt;">Of which:
  financing the construction and property (including land)</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 style="font-size:6.0pt;">819</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 style="font-size:6.0pt;">321</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 style="font-size:6.0pt;">790</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 style="font-size:6.0pt;">445</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 style="font-size:6.0pt;">210</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 style="font-size:6.0pt;">4</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 style="font-size:6.0pt;">392</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 style="font-size:6.0pt;">Other households (*)</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 style="font-size:6.0pt;">96,429</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 style="font-size:6.0pt;">758</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 style="font-size:6.0pt;">34,463</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 style="font-size:6.0pt;">2,908</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 style="font-size:6.0pt;">2,006</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 style="font-size:6.0pt;">17</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 style="font-size:6.0pt;">1,229</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td width=26% style="background:#5AC4C4;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 style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:6.0pt;">136,095</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:6.0pt;">3,954</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:6.0pt;">46,229</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:6.0pt;">5,396</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:6.0pt;">3,044</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:6.0pt;">67</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:6.0pt;">4,164</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:64.35pt;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;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:6.0pt;">(*)&#160; Number of operations does not include Garanti BBVA.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:78.0pt;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;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:6.0pt;">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:78.0pt;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:6.0pt;">The
accumulated impairment or accumulated losses in fair value due to credit risk
correspond to &#8364;624 million of collective loss allowances and &#8364;4,164 million of
specific loss allowances.
</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-191</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.XI_003a_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:19.5pt;">
  <td nowrap valign=bottom width=26% style="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 lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&#160;&#160;&#160; (Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td valign=bottom width=26% style="height:15.75pt;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=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">TOTAL</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td valign=bottom width=26% style="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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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 valign=bottom width=26% 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 lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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 valign=bottom width=26% style="height:24.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Rest of secured loans</font></b></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 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 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 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 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 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 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 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 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 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 style="font-size:6.0pt;">75</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 style="font-size:6.0pt;">111</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 style="font-size:6.0pt;">46</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 style="font-size:6.0pt;">64</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 style="font-size:6.0pt;">52</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 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 style="font-size:6.0pt;">15</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 lang=EN-US 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 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 style="font-size:6.0pt;">252</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 style="font-size:6.0pt;">13</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 style="font-size:6.0pt;">29,360</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 style="font-size:6.0pt;">5</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 style="font-size:6.0pt;">3</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 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 style="font-size:6.0pt;">6</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 lang=EN-US 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 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 style="font-size:6.0pt;">44,271</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 style="font-size:6.0pt;">4,483</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 style="font-size:6.0pt;">15,493</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 style="font-size:6.0pt;">4,177</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 style="font-size:6.0pt;">2,200</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 style="font-size:6.0pt;">221</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 style="font-size:6.0pt;">3,148</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 lang=EN-US 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 style="font-size:6.0pt;">734</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 style="font-size:6.0pt;">258</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 style="font-size:6.0pt;">1,627</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 style="font-size:6.0pt;">962</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 style="font-size:6.0pt;">501</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 style="font-size:6.0pt;">12</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 style="font-size:6.0pt;">517</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 style="font-size:6.0pt;">Other households (*)</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 style="font-size:6.0pt;">193,061</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 style="font-size:6.0pt;">1,326</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 style="font-size:6.0pt;">355,466</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 style="font-size:6.0pt;">6,990</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 style="font-size:6.0pt;">5,083</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 style="font-size:6.0pt;">150</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 style="font-size:6.0pt;">1,716</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=26% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">237,659</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">5,933</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">400,365</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">11,236</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">7,338</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">371</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">4,885</font></b></font></p>
  </td>
 </tr>
</table></div>



<p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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 align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.XI_003b_F_XBRL" style="border-collapse:collapse;width:100%;">
 <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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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 lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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="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 lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Rest of secured loans</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=26% 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: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 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 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 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 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 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 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 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 style="font-size:6.0pt;">General Governments</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 style="font-size:6.0pt;">46</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 style="font-size:6.0pt;">65</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 style="font-size:6.0pt;">12</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 style="font-size:6.0pt;">16</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 style="font-size:6.0pt;">8</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 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 style="font-size:6.0pt;">10</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 lang=EN-US 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 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 style="font-size:6.0pt;">133</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 style="font-size:6.0pt;">4</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 style="font-size:6.0pt;">29,320</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 style="font-size:6.0pt;">4</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 style="font-size:6.0pt;">2</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 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 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 lang=EN-US 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 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 style="font-size:6.0pt;">25,420</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 style="font-size:6.0pt;">2,723</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 style="font-size:6.0pt;">9,922</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 style="font-size:6.0pt;">2,777</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 style="font-size:6.0pt;">1,192</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 style="font-size:6.0pt;">100</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 style="font-size:6.0pt;">2,773</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 lang=EN-US 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 style="font-size:6.0pt;">631</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 style="font-size:6.0pt;">200</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 style="font-size:6.0pt;">1,145</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 style="font-size:6.0pt;">656</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 style="font-size:6.0pt;">254</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 style="font-size:6.0pt;">1</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 style="font-size:6.0pt;">477</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 style="font-size:6.0pt;">Other households (*)</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 style="font-size:6.0pt;">116,916</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 style="font-size:6.0pt;">741</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 style="font-size:6.0pt;">42,403</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 style="font-size:6.0pt;">3,673</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 style="font-size:6.0pt;">2,435</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 style="font-size:6.0pt;">26</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 style="font-size:6.0pt;">1,414</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=26% style="background:#5AC4C4;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 style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:6.0pt;">142,515</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:6.0pt;">3,533</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:6.0pt;">81,657</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:6.0pt;">6,470</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:6.0pt;">3,636</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:6.0pt;">126</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:6.0pt;">4,202</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:64.35pt;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;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:6.0pt;">(*)&#160; Number of operations does not include Garanti BBVA.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:77.95pt;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;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:6.0pt;">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:78.0pt;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:6.0pt;">The
accumulated impairment or accumulated losses in fair value due to credit risk
correspond to &#8364;682 million of collective loss allowances and &#8364;4,202 million of
specific loss allowances.
</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><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.XI_004aanual_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:19.5pt;">
  <td nowrap valign=bottom width=26% style="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 lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">&#160;&#160;&#160; (Millions of Euros)</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td valign=bottom width=26% style="height:15.75pt;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=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">TOTAL</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td valign=bottom width=26% style="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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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 valign=bottom width=26% 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 lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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 valign=bottom width=26% style="height:24.95pt;padding:0cm 0cm 0cm 0cm;">
  <p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Rest of secured loans</font></b></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 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 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 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 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 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 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 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 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 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 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 style="font-size:6.0pt;">105</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 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 style="font-size:6.0pt;">430</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 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 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 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 lang=EN-US 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 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 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 style="font-size:6.0pt;">36</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 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 style="font-size:6.0pt;">8</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 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 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 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 lang=EN-US 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 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 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 style="font-size:6.0pt;">4,672</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 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 style="font-size:6.0pt;">6,258</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 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 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 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 lang=EN-US 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 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 style="font-size:6.0pt;">398</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 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 style="font-size:6.0pt;">2,345</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 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 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 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 style="font-size:6.0pt;">Other households (*)</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 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 style="font-size:6.0pt;">1,325</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 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 style="font-size:6.0pt;">8,477</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 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 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 style="font-size:6.0pt;">1,373</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap width=26% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">281,361</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">6,138</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">127,894</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">15,173</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">10,186</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">571</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">4,991</font></b></font></p>
  </td>
 </tr>
</table></div>



<p align=center style="border:none;margin:0cm;margin-bottom:.0001pt;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 align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.XI_004banual_F_XBRL" style="border-collapse:collapse;width:100%;">
 <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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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 lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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="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 lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Rest of secured loans</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=26% 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: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 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 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 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 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 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 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 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 style="font-size:6.0pt;">General Governments</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 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 style="font-size:6.0pt;">72</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 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 style="font-size:6.0pt;">29</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 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 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 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 lang=EN-US 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 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 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 style="font-size:6.0pt;">5</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 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 style="font-size:6.0pt;">2</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 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 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 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 lang=EN-US 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 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 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 style="font-size:6.0pt;">2,791</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 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 style="font-size:6.0pt;">4,144</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 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 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 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 lang=EN-US 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 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 style="font-size:6.0pt;">208</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 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 style="font-size:6.0pt;">1,961</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 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 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 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 style="font-size:6.0pt;">Other households (*)</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 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 style="font-size:6.0pt;">747</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 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 style="font-size:6.0pt;">4,330</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 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 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 style="font-size:6.0pt;">1,231</font></font></p>
  </td>
 </tr>
<tr style="height:15.75pt;">
  <td nowrap width=26% style="background:#5AC4C4;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 style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:6.0pt;">201,071</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:6.0pt;">3,615</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:6.0pt;">58,667</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;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 style="font-size:6.0pt;">8,506</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:6.0pt;">5,275</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:6.0pt;">72</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:6.0pt;">4,612</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:64.35pt;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;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:6.0pt;">(*)&#160; Number of operations does not include Garanti BBVA.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:77.95pt;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;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:6.0pt;">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:78.0pt;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:6.0pt;">The
accumulated impairment or accumulated losses in fair value due to credit risk
correspond to &#8364;378 million of collective loss allowances and &#8364;4,612 million of
specific loss allowances. </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-193</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

</DIV>
</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">

<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:8.0pt;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&#8217;s financial situation.</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">The table below provides a
breakdown by segments of the forbearance operations (net of provisions) as of
December 31, 2019, 2018 and 2017:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.XI_181_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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 lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 2018</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 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 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 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 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 style="font-size:8.0pt;">147</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 style="font-size:8.0pt;">160</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 style="font-size:8.0pt;">518</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td 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 lang=EN-US 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 style="font-size:8.0pt;">6</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 style="font-size:8.0pt;">13</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 style="font-size:8.0pt;">24</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 lang=EN-US 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 style="font-size:8.0pt;">5,479</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 style="font-size:8.0pt;">5,512</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 style="font-size:8.0pt;">7,351</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 lang=EN-US 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 style="font-size:8.0pt;">660</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 style="font-size:8.0pt;">702</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 style="font-size:8.0pt;">1,416</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 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 style="font-size:8.0pt;">5,818</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 style="font-size:8.0pt;">6,600</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 style="font-size:8.0pt;">8,428</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap width=41% style="background:#5AC4C4;border:none;border-bottom:solid 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 carrying amount</font></b></font></p>
  </td>
 <td nowrap width=20% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">11,450</font></b></font></p>
  </td>
 <td nowrap width=20% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">12,284</font></b></font></p>
  </td>
 <td nowrap width=19% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">16,321</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 lang=EN-US 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 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 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 style="font-size:8.0pt;">-</font></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:avoid;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:8.0pt;">NPL ratio by
type of renegotiated loan</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:8.0pt;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:8.0pt;line-height:115%;">As of
December 31, 2019 and 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 title="F_I_Anexo.XI_021dic_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td nowrap width=68% 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">December
  2019. NPL ratio renegotiated loan portfolio</font></font></p>
  </td>
 <td nowrap width=32% 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</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 lang=EN-US 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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 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=center style="border:none;margin: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;">39%</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;">Commercial</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 11.0pt;">
  <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=EN-US style="font-size:8.0pt;">Of which:
  Construction and developer</font></i></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 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=center style="border:none;margin: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;">50%</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 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 title="F_I_Anexo.XI_023_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">December
  2018. 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 lang=EN-US 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=center style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:center;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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 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=center style="border:none;margin: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;">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 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=center style="border:none;margin: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;">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 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=EN-US style="font-size:8.0pt;">Of which:
  Construction and developer</font></i></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><i><font color=black face=Arial,sans-serif style="font-size:8.0pt;">70%</font></i></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;">Other consumer</font></font></p>
  </td>
 <td nowrap 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">53%</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-194</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</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:0cm;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:avoid;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;">b).&#160;&#160;
Qualitative information on the concentration of risk by activity and guarantees</font></b></font></p>

<p style="border:none;margin:0cm;margin-bottom:10.0pt;page-break-after:avoid;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:9.0pt;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 title="F_I_Anexo.XI_031dic_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=9 nowrap 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">December 2019
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td valign=top width=32% 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=#004481 face=Arial,sans-serif style="border:none;"><font color=#004481 face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif style="font-size:9.0pt;">&nbsp;</font></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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Collateralized loans and receivables -Loans and advances to
  customers. </font></b></font><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Loan to value</font></b></font></p>
  </td>
 </tr>
<tr style="height:60.0pt;">
  <td nowrap width=32% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;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:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Total (*)</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Mortgage loans</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Secured loans</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Less than or equal to 40%</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Over 40% but less than or equal to 60%</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Over 60% but less than or equal to 80%</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Over 80% but less than or equal to 100%</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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 style="font-size:8.0pt;">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 style="font-size:8.0pt;">29,257</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 style="font-size:8.0pt;">1,067</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 style="font-size:8.0pt;">10,886</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 style="font-size:8.0pt;">4,914</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 style="font-size:8.0pt;">1,510</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 style="font-size:8.0pt;">1,077</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 style="font-size:8.0pt;">3,651</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 style="font-size:8.0pt;">801</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;">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 style="font-size:8.0pt;">23,114</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">281</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">13,699</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 style="font-size:8.0pt;">1,856</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">219</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 style="font-size:8.0pt;">11,688</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">115</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=EN-US style="font-size:8.0pt;">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 style="font-size:8.0pt;">176,474</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">26,608</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 style="font-size:8.0pt;">30,313</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">22,901</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 style="font-size:8.0pt;">10,082</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">8,478</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">5,270</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">10,190</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">15,171</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">4,497</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,114</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,313</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,765</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,476</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">457</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">600</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">7,146</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">756</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">468</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">499</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">248</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">152</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">219</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;">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 style="font-size:8.0pt;">154,157</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">21,355</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">27,731</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">20,089</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">8,069</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 style="font-size:8.0pt;">6,850</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 style="font-size:8.0pt;">4,707</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">9,371</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">104,661</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">8,665</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">19,058</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">12,647</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">3,620</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">3,828</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,727</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">4,901</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">49,496</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">12,690</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">8,673</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">7,442</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">4,449</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">3,022</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,980</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">4,470</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=EN-US style="font-size:8.0pt;">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 style="font-size:8.0pt;">167,117</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 style="font-size:8.0pt;">108,031</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">5,582</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">23,057</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">27,714</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 style="font-size:8.0pt;">32,625</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">20,529</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 style="font-size:8.0pt;">9,688</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">110,178</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">104,796</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,332</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">20,831</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">26,639</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">31,707</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">18,701</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">9,250</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">46,356</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">507</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,075</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">450</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">174</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,502</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">140</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">10,583</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,728</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,175</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,776</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">759</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">744</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">326</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">298</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=32% style="background:#5AC4C4;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</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">395,962</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">135,987</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">60,480</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">52,728</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">39,525</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">42,283</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">41,138</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">20,794</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">MEMORANDUM ITEM:</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 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 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 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 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 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 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 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">11,450</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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">7,396</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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">256</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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,547</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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,427</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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,572</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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,247</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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,859</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:49.6pt;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;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:6.0pt;line-height:115%;">(*)&#160;&#160;&#160; The amounts included in this
table are net of loss allowances.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:49.6pt;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;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:6.0pt;line-height:115%;">(**)&#160;&#160; Small and medium
enterprises.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:49.6pt;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;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:6.0pt;line-height:115%;">(***)&#160; Nonprofit institutions
serving households.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:49.6pt;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:6.0pt;line-height:115%;">(****) Net of provisions.
</font></font></p>


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<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.XI_033_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif 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 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 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 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 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Collateralized loans and receivables -Loans and advances to
  customers. </font></b></font><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Loan to value </font></b></font></p>
  </td>
 </tr>
<tr style="height:60.0pt;">
  <td nowrap width=32% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;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:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Total (*)</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Mortgage loans</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Secured loans</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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 style="font-size:8.0pt;">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 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 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 style="font-size:8.0pt;">7,750</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 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 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 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 style="font-size:8.0pt;">3,514</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 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 style="font-size:8.0pt;">&#160;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 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 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 style="font-size:8.0pt;">12,549</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 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 style="font-size:8.0pt;">11,209</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 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 lang=EN-US style="font-size:8.0pt;">&#160;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 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 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 style="font-size:8.0pt;">32,371</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 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 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 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 style="font-size:8.0pt;">5,087</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">10,160</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">&#160;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 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 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 style="font-size:8.0pt;">2,539</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 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 style="font-size:8.0pt;">486</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">605</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">&#160;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 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 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 style="font-size:8.0pt;">620</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 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 style="font-size:8.0pt;">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 style="font-size:8.0pt;">319</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;">&#160;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 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 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 style="font-size:8.0pt;">29,212</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 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 style="font-size:8.0pt;">4,401</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">9,235</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">&#160;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 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 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 style="font-size:8.0pt;">19,069</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 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 style="font-size:8.0pt;">2,245</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,820</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">&#160;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 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 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 style="font-size:8.0pt;">10,143</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 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 style="font-size:8.0pt;">2,156</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 lang=EN-US style="font-size:8.0pt;">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 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 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 style="font-size:8.0pt;">5,854</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 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 style="font-size:8.0pt;">21,490</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">10,908</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">&#160;Housing &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 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 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 style="font-size:8.0pt;">2,419</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 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 style="font-size:8.0pt;">19,345</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">10,404</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">&#160;Consumption &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 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 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 style="font-size:8.0pt;">2,600</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 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 style="font-size:8.0pt;">1,597</font></font></p>
  </td>
 <td nowrap width=8% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">142</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">&#160;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 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 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 style="font-size:8.0pt;">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 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 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 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 style="font-size:8.0pt;">547</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 style="font-size:8.0pt;">362</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=32% style="background:#5AC4C4;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;">&#160;TOTAL&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">387,850</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">139,868</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">58,524</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">50,082</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">41,058</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">44,206</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">41,300</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">21,747</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 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 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 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 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 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 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 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 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 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 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 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 style="font-size:8.0pt;">523</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 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 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 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 style="font-size:8.0pt;">1,527</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 style="font-size:8.0pt;">2,623</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:49.6pt;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;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:6.0pt;line-height:115%;">(*)&#160;&#160;&#160; The amounts included in this
table are net of loss allowances.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:49.6pt;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;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:6.0pt;line-height:115%;">(**)&#160;&#160; Small and medium enterprises</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:49.6pt;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;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:6.0pt;line-height:115%;">(***)&#160; Nonprofit institutions
serving households.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:49.6pt;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:6.0pt;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-196</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.XI_034anual_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">December 2017 (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 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 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 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 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Collateralized credit risk. Loan to value</font></b></font></p>
  </td>
 </tr>
<tr style="height:60.0pt;">
  <td nowrap width=32% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;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=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Total (*)</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Mortgage loans</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Secured loans</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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:60.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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 style="font-size:8.0pt;">&#160;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 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 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 style="font-size:8.0pt;">7,167</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 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 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 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 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 style="font-size:8.0pt;">5,440</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;">&#160;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 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 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 style="font-size:8.0pt;">12,910</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 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 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 style="font-size:8.0pt;">1,183</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=EN-US style="font-size:8.0pt;">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 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 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 style="font-size:8.0pt;">24,793</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 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 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 style="font-size:8.0pt;">32,591</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">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 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 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 style="font-size:8.0pt;">1,066</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 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 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 style="font-size:8.0pt;">6,974</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">&#160;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 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 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 style="font-size:8.0pt;">521</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 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 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 style="font-size:8.0pt;">667</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;">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 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 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 style="font-size:8.0pt;">23,206</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 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 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 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 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 style="font-size:8.0pt;">24,950</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">&#160;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 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 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 style="font-size:8.0pt;">16,868</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 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 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 style="font-size:8.0pt;">18,706</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">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 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 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 style="font-size:8.0pt;">6,338</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 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 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 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 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 style="font-size:8.0pt;">6,244</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=EN-US style="font-size:8.0pt;">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 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 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 style="font-size:8.0pt;">8,395</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 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 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 style="font-size:8.0pt;">32,667</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">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 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 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 style="font-size:8.0pt;">128</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 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 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 style="font-size:8.0pt;">25,076</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">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 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 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 style="font-size:8.0pt;">4,784</font></font></p>
  </td>
 <td nowrap width=9% style="height:12.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 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 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 style="font-size:8.0pt;">3,632</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:8.0pt;">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 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 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 style="font-size:8.0pt;">3,483</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 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 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 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 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 style="font-size:8.0pt;">3,959</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap width=32% style="background:#5AC4C4;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;">&#160;TOTAL&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">388,325</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">155,597</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">53,266</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">33,312</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">29,142</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">31,359</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">43,170</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">71,882</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 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 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 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 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 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 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 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 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 style="font-size:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 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 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 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 style="font-size:8.0pt;">5,117</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 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 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 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 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 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:49.6pt;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;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:6.0pt;line-height:115%;">(*)&#160;&#160;&#160; The amounts included in this
table are net of loss allowances.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:49.6pt;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;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:6.0pt;line-height:115%;">(**)&#160;&#160; Small and medium enterprises</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:49.6pt;margin-right:33.75pt;margin-top:3.0pt;page-break-after:avoid;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:6.0pt;line-height:115%;">(***)&#160; Nonprofit institutions
serving households.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:49.6pt;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:6.0pt;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-197</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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>
<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:8.0pt;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 title="F_I_031dic_SEC1_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:21.75pt;">
  <td colspan=9 nowrap width=100% style="background:#E9E9E9;height:21.75pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">December 2019
  (Millions Of Euros) BBVA, S.A.</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td valign=top width=32% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Collateralized loans and receivables -Loans and advances to
  customers. </font></b></font><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Loan to value</font></b></font></p>
  </td>
 </tr>
<tr style="height:56.25pt;">
  <td nowrap width=32% style="border:none;border-bottom:solid black 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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Total (*)</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Less than or equal to 40%</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Over 40% but less than or equal to 60%</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Over 60% but less than or equal to 80%</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Over 80% but less than or equal to 100%</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Over 100%</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=32% 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:8.0pt;">1 General governments</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">15,689</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">360</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">439</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">59</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">209</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">63</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">461</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">8</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=32% 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:8.0pt;">2 Other financial
  institutions</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">17,439</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">194</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">11,591</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">45</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">36</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">11,636</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">64</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=32% 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=EN-US style="font-size:8.0pt;">3 Non-financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">78,459</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">10,338</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,936</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,543</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,951</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,169</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,067</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,543</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="height:15.0pt;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;">3.1 Construction
  and property development </font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,033</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,907</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">21</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">729</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">546</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">405</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">124</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">124</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="height:15.0pt;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;">3.2 Construction of
  civil works</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">4,501</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">676</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">155</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">277</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">206</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">134</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">48</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">167</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=32% 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:8.0pt;">3.3 Other purposes</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">71,925</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">7,754</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,760</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,537</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,199</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,629</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">896</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,253</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="height:15.0pt;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;">3.3.1 Large
  companies </font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">48,462</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,446</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">621</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">953</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">(66)</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">344</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">212</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">624</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="height:15.0pt;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;">3.3.2 SMEs (**) and
  individual entrepreneurs </font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">23,463</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">6,308</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,139</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,584</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,265</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,285</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">684</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">629</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=32% 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=EN-US style="font-size:8.0pt;">4 Rest of
  households and NPISHs (***)</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">92,757</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">76,735</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">408</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">15,995</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">20,442</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">21,173</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">11,812</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">7,720</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="height:15.0pt;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;">4.1 Housing </font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">76,339</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">74,272</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">121</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">15,176</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">19,692</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">20,493</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">11,560</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">7,473</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="height:15.0pt;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;">4.2 Consumption </font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">11,976</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">116</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">177</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">63</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">72</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">101</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">32</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">24</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif 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:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">4,442</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,347</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">109</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">757</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">677</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">579</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">220</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">223</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=32% style="background:#5AC4C4;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 style="font-size:8.0pt;">&#160;&#160;&#160; TOTAL</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">204,344</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">87,626</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">14,374</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">20,642</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">23,638</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">23,409</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">24,976</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">9,335</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="border:none;height:15.0pt;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;">MEMORANDUM:</font></i></font></p>
  </td>
 <td nowrap width=9% 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=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: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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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=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: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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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=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: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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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=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: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:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="height:15.0pt;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;">Forbearance
  operations (****)</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">8,043</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">6,162</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">43</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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,024</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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,152</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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,285</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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,054</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">1,691</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:49.6pt;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:6.0pt;line-height:115%;">(*)&#160;&#160;&#160; The amounts included in this table are net of loss
allowances.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:49.6pt;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:6.0pt;line-height:115%;">(**)&#160;&#160;&#160; Small and medium enterprises</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:49.6pt;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:6.0pt;line-height:115%;">(***)&#160;&#160;&#160;&#160; Nonprofit institutions serving households.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:49.6pt;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:6.0pt;line-height:115%;">(****)&#160;&#160;&#160; 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 title="F_I_031dic_SEC2_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:23.25pt;">
  <td colspan=9 nowrap width=100% style="background:#E9E9E9;height:23.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">December 2019 (Millions Of Euros) BBVA MEXICO</font></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td valign=top width=32% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Collateralized loans and receivables -Loans and advances to
  customers. </font></b></font><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Loan to value</font></b></font></p>
  </td>
 </tr>
<tr style="height:56.25pt;">
  <td nowrap width=32% style="border:none;border-bottom:solid black 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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Total (*)</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Less than or equal to 40%</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Over 40% but less than or equal to 60%</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Over 60% but less than or equal to 80%</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Over 80% but less than or equal to 100%</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Over 100%</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=32% 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:8.0pt;">1 General governments</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">6,817</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">6,172</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">3,913</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">775</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">126</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">793</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">565</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=32% 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:8.0pt;">2 Other financial
  institutions</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,607</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">5</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,502</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,387</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">55</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">42</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">18</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=32% 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=EN-US style="font-size:8.0pt;">3 Non-financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">24,086</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,014</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">16,376</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">11,832</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">988</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,136</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,044</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,390</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="height:15.0pt;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;">3.1 Construction
  and property development </font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,094</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">216</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">878</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">619</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">174</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">195</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">65</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">41</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="height:15.0pt;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;">3.2 Construction of
  civil works</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">161</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">157</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">133</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">4</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">6</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">4</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">15</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=32% 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:8.0pt;">3.3 Other purposes</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">22,831</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">795</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">15,340</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">11,080</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">810</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">936</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">975</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,335</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="height:15.0pt;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;">3.3.1 Large companies
  </font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">16,315</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">64</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">9,556</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">8,009</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">393</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">469</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">354</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">394</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="height:15.0pt;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;">3.3.2 SMEs (**) and
  individual entrepreneurs </font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">6,516</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">731</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">5,784</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">3,071</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">417</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">467</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">620</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,941</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=32% 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=EN-US style="font-size:8.0pt;">4 Rest of
  households and NPISHs (***)</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">24,378</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">10,366</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">668</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,776</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,191</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">4,500</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,284</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">285</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="height:15.0pt;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;">4.1 Housing </font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">10,366</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">10,366</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,109</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,191</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">4,500</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,284</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">283</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="height:15.0pt;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;">4.2 Consumption </font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">12,822</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif 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:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,190</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">668</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">666</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=32% style="background:#5AC4C4;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 style="font-size:8.0pt;">&#160;&#160;&#160; TOTAL</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">56,887</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">11,385</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">24,718</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">18,908</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">3,958</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">5,817</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">4,162</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">3,258</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="border:none;height:15.0pt;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;">MEMORANDUM:</font></i></font></p>
  </td>
 <td nowrap width=9% 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=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: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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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=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: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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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=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: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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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=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: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:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="height:15.0pt;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;">Forbearance
  operations (****)</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">440</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">223</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">132</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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">91</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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">45</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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">87</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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">89</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">43</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:49.6pt;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:6.0pt;line-height:115%;">(*)&#160;&#160;&#160; The amounts included in this table are net of loss
allowances.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:49.6pt;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:6.0pt;line-height:115%;">(**)&#160;&#160;&#160; Small and medium enterprises</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:49.6pt;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:6.0pt;line-height:115%;">(***)&#160;&#160;&#160;&#160; Nonprofit institutions serving households.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:49.6pt;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:6.0pt;line-height:115%;">(****)&#160;&#160;&#160; 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-199</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_031dic_SEC3_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:21.0pt;">
  <td colspan=9 nowrap width=100% style="background:#E9E9E9;height:21.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">December 2019 (Millions Of Euros) BBVA USA</font></font></p>
  </td>
 </tr>
<tr style="height:27.0pt;">
  <td valign=top width=32% 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=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Collateralized loans and receivables -Loans and advances to
  customers. </font></b></font><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Loan to value</font></b></font></p>
  </td>
 </tr>
<tr style="height:56.25pt;">
  <td nowrap width=32% style="border:none;border-bottom:solid black 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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Total (*)</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Less than or equal to 40%</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Over 40% but less than or equal to 60%</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Over 60% but less than or equal to 80%</font></b></font></p>
  </td>
 <td width=8% style="border:none;border-bottom:solid black 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Over 80% but less than or equal to 100%</font></b></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Over 100%</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=32% 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:8.0pt;">1 General governments</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">906</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">126</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">710</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">130</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">229</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">138</font></font></p>
  </td>
 <td nowrap width=8% 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 style="font-size:8.0pt;">285</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">54</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=32% 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:8.0pt;">2 Other financial
  institutions</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,881</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">44</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">300</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">299</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">7</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">24</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">10</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=32% 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=EN-US style="font-size:8.0pt;">3 Non-financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">27,878</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,579</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">9,953</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,695</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,644</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,111</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,443</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,638</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="height:15.0pt;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;">3.1 Construction and
  property development </font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">9,236</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,159</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,135</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">689</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">711</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">632</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">148</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">115</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="height:15.0pt;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;">3.2 Construction of
  civil works</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">201</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">146</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">76</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">27</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">4</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">44</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=32% 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:8.0pt;">3.3 Other purposes</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">18,440</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3,414</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">8,672</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,931</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,906</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,475</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">1,251</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,523</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="height:15.0pt;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;">3.3.1 Large
  companies </font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">16,434</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,995</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">7,622</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,570</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,516</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,174</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,113</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,244</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="height:15.0pt;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;">3.3.2 SMEs (**) and
  individual entrepreneurs </font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,006</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">419</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,050</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">360</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">390</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">302</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">139</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">279</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=32% 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=EN-US style="font-size:8.0pt;">4 Rest of
  households and NPISHs (***)</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">21,275</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">11,367</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,816</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,599</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2,424</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">5,495</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3,623</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">41</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="height:15.0pt;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;">4.1 Housing </font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">13,484</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">11,164</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,188</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,183</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,275</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">5,338</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">3,536</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">18</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="height:15.0pt;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;">4.2 Consumption </font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">4,313</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">336</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">168</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">109</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">20</font></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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">34</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">4</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif 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:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">3,478</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">203</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">292</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">248</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">40</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">137</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">52</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">19</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=32% style="background:#5AC4C4;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 style="font-size:8.0pt;">&#160;&#160;&#160; TOTAL</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">51,939</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">16,116</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">13,779</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">6,723</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">6,305</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">8,768</font></b></font></p>
  </td>
 <td nowrap width=8% style="background:#5AC4C4;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 style="font-size:8.0pt;">5,354</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">2,744</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="border:none;height:15.0pt;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;">MEMORANDUM:</font></i></font></p>
  </td>
 <td nowrap width=9% 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=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: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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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=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: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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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=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: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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=8% 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=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: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:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=32% style="height:15.0pt;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;">Forbearance
  operations (****)</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">403</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">155</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">57</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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">35</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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">63</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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">60</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=gray face=Arial,sans-serif style="border:none;"><i><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">53</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">1</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:49.6pt;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:6.0pt;line-height:115%;">(*)&#160;&#160;&#160; The amounts included in this table are net of loss
allowances.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:49.6pt;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:6.0pt;line-height:115%;">(**)&#160;&#160;&#160; Small and medium enterprises</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:49.6pt;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:6.0pt;line-height:115%;">(***)&#160;&#160;&#160;&#160; Nonprofit institutions serving households.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:49.6pt;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:6.0pt;line-height:115%;">(****)&#160;&#160;&#160; 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 title="F_I_031dic_SEC4_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:26.25pt;">
  <td colspan=9 nowrap width=100% style="background:#E9E9E9;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">December 2019 (Millions Of Euros) Garanti BBVA</font></font></p>
  </td>
 </tr>
<tr style="height:27.75pt;">
  <td valign=top width=28% 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 lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% style="border:none;border-bottom:solid black 1.0pt;height:27.75pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 width=45% 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Collateralized loans and receivables -Loans and advances to
  customers. </font></b></font><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Loan to value</font></b></font></p>
  </td>
 </tr>
<tr style="height:45.0pt;">
  <td nowrap width=28% 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=#44546A face=Arial,sans-serif style="border:none;"><b><font color=#44546A 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Less than or equal to 40%</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Over 40% but less than or equal to 60%</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Over 60% but less than or equal to 80%</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Over 80% but less than or equal to 100%</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Over 100%</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=28% 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:8.0pt;">1 General governments</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">107</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2 Other financial
  institutions</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,299</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">26</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">19</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">3</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">3 Non-financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">23,461</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">5,099</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">443</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,513</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,619</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,270</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">361</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">779</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=28% style="height:15.0pt;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;">3.1 Construction
  and property development </font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,768</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">690</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">51</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">222</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">242</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">161</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">30</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">86</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=28% style="height:15.0pt;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;">3.2 Construction of
  civil works</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,961</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3.3 Other purposes</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">19,732</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,409</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">392</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,291</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,377</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,108</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">331</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">693</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=28% style="height:15.0pt;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;">3.3.1 Large
  companies </font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">10,759</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,966</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">94</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">763</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">420</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">490</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">123</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">263</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=28% style="height:15.0pt;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;">3.3.2 SMEs (**) and
  individual entrepreneurs </font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">8,973</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,443</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">299</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">528</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">957</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">618</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">208</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">430</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">4 Rest of
  households and NPISHs (***)</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">11,023</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,675</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">27</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,182</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,370</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">124</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">25</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=28% style="height:15.0pt;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;">4.1 Housing </font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,965</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,537</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,128</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,318</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">90</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=28% style="height:15.0pt;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;">4.2 Consumption </font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">7,826</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">42</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">25</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">31</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">17</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">13</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">5</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=28% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif 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:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">232</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">96</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">23</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">35</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">21</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">18</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=28% style="background:#5AC4C4;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 style="font-size:8.0pt;">&#160;&#160;&#160; TOTAL</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">35,890</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">7,800</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">471</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">2,695</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">2,993</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">1,413</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">388</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">781</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=28% style="border:none;height:15.0pt;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;">MEMORANDUM:</font></i></font></p>
  </td>
 <td nowrap width=9% 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=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: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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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=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: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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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=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: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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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=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: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:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=28% style="height:15.0pt;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;">Forbearance
  operations (****)</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">1,789</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">400</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">2</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">210</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">56</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">89</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">11</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">36</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:49.6pt;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:6.0pt;line-height:115%;">(*)&#160;&#160;&#160; The amounts included in this table are net of loss
allowances.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:49.6pt;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:6.0pt;line-height:115%;">(**)&#160;&#160;&#160; Small and medium enterprises</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:49.6pt;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:6.0pt;line-height:115%;">(***)&#160;&#160;&#160;&#160; Nonprofit institutions serving households.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:49.6pt;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:6.0pt;line-height:115%;">(****)&#160;&#160;&#160; 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-201</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_031dic_SEC5_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:26.25pt;">
  <td colspan=9 nowrap width=100% style="background:#E9E9E9;height:26.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">December 2019 (Millions Of Euros) Other Entities</font></font></p>
  </td>
 </tr>
<tr style="height:21.75pt;">
  <td valign=top width=28% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% 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=#072146 face=Arial,sans-serif style="border:none;"><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>
  </td>
 <td colspan=5 width=45% 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Collateralized loans and receivables -Loans and advances to
  customers. </font></b></font><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Loan to value</font></b></font></p>
  </td>
 </tr>
<tr style="height:45.0pt;">
  <td nowrap width=28% 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=#44546A face=Arial,sans-serif style="border:none;"><b><font color=#44546A 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Less than or equal to 40%</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Over 40% but less than or equal to 60%</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Over 60% but less than or equal to 80%</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Over 80% but less than or equal to 100%</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Over 100%</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=28% 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:8.0pt;">1 General governments</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">5,739</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">579</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">3,565</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">812</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">297</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">749</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">2,113</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:8.0pt;">174</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">2 Other financial
  institutions</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">888</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">14</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">307</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">125</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">167</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">5</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">22</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">3 Non-financial
  institutions and individual entrepreneurs</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">22,591</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">5,579</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,604</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,318</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">879</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">792</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,354</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,840</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=28% style="height:15.0pt;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;">3.1 Construction
  and property development </font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,040</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">525</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">29</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">54</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">92</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">83</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">91</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">234</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=28% style="height:15.0pt;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;">3.2 Construction of
  civil works</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">322</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">71</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">9</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">14</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">11</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">7</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">10</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">38</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">3.3 Other purposes</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">21,229</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">4,983</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,566</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,250</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">776</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">701</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,254</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,567</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=28% style="height:15.0pt;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;">3.3.1 Large
  companies </font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">12,690</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,195</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,165</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">352</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">357</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">350</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">925</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,376</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=28% style="height:15.0pt;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;">3.3.2 SMEs (**) and
  individual entrepreneurs </font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">8,539</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">2,789</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">401</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">898</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">419</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">350</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">329</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,191</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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">4 Rest of
  households and NPISHs (***)</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">17,685</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">6,889</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,664</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,505</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,288</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,333</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,785</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">1,641</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=28% style="height:15.0pt;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;">4.1 Housing </font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">7,023</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">6,458</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">22</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,235</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,164</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,286</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,320</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,475</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=28% style="height:15.0pt;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;">4.2 Consumption </font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">9,418</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">349</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,537</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">187</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">117</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">40</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,430</font></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">111</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=28% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif 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:15.0pt;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;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,242</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">82</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">103</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">82</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">6</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">8</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">35</font></font></p>
  </td>
 <td nowrap 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">55</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap width=28% style="background:#5AC4C4;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 style="font-size:8.0pt;">&#160;&#160;&#160; TOTAL</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">46,902</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">13,060</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">7,138</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">3,759</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">2,631</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">2,876</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">6,257</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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 style="font-size:8.0pt;">4,675</font></b></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=28% style="border:none;height:15.0pt;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;">MEMORANDUM:</font></i></font></p>
  </td>
 <td nowrap width=9% 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=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: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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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=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: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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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=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: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:8.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=9% 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=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: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:8.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=28% style="height:15.0pt;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;">Forbearance
  operations (****)</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">776</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">455</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">23</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">187</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">110</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">50</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">42</font></i></font></p>
  </td>
 <td nowrap width=9% style="height:15.0pt;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 style="font-size:8.0pt;">89</font></i></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:3.0pt;margin-left:49.6pt;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:6.0pt;line-height:115%;">(*)&#160;&#160;&#160; The amounts included in this table are net of loss&#160;&#160;
allowances.</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:49.6pt;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:6.0pt;line-height:115%;">(**)&#160;&#160;&#160; Small and medium enterprises</font></font></p>

<p style="border:none;margin-bottom:3.0pt;margin-left:49.6pt;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:6.0pt;line-height:115%;">(***)&#160;&#160;&#160;&#160; Nonprofit institutions serving households.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:49.6pt;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:6.0pt;line-height:115%;">(****)&#160;&#160;&#160; 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-202</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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:0cm;margin-bottom:11.0pt;margin-left:0cm;margin-right:0cm;margin-top:11.0pt;page-break-after:avoid;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;line-height:115%;">c).&#160;&#160; Information on the concentration of risk by activity and
geographical areas</font></b></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.XI_041dic_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">December 2019
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:37.5pt;">
  <td nowrap width=40% 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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">TOTAL(*)</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Spain</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">European Union Other</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">America</font></b></font></p>
  </td>
 <td width=12% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Other</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=40% 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;">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 style="font-size:8.0pt;">109,471</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 style="font-size:8.0pt;">23,127</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 style="font-size:8.0pt;">40,332</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 style="font-size:8.0pt;">31,851</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 style="font-size:8.0pt;">14,161</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=40% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 style="font-size:8.0pt;">134,929</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 style="font-size:8.0pt;">56,478</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 style="font-size:8.0pt;">9,861</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 style="font-size:8.0pt;">57,174</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 style="font-size:8.0pt;">11,416</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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;">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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">96,639</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">39,573</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">9,505</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">36,287</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">11,274</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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;">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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">38,290</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">16,905</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">356</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">20,887</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">142</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=40% 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 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 style="font-size:8.0pt;">52,406</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 style="font-size:8.0pt;">13,822</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 style="font-size:8.0pt;">19,828</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 style="font-size:8.0pt;">15,749</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 style="font-size:8.0pt;">3,007</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom 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=EN-US 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 style="font-size:8.0pt;">232,034</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 style="font-size:8.0pt;">70,762</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 style="font-size:8.0pt;">25,963</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 style="font-size:8.0pt;">92,198</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 style="font-size:8.0pt;">43,111</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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;">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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">18,915</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">3,538</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">361</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">11,688</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 style="font-size:8.0pt;">3,328</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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;">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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">10,607</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">5,403</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,303</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,431</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 style="font-size:8.0pt;">2,470</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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;">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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">202,512</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">61,821</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">24,299</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">79,079</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">37,313</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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;">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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">147,643</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">37,402</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">23,310</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">61,858</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">25,073</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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;">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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">54,869</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">24,419</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">989</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">17,221</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">12,240</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=40% 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 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 style="font-size:8.0pt;">167,379</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 style="font-size:8.0pt;">90,829</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 style="font-size:8.0pt;">3,180</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 style="font-size:8.0pt;">62,098</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 style="font-size:8.0pt;">11,272</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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;">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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">110,178</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">75,754</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">725</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">30,557</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">3,142</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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;">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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">46,358</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">11,954</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">675</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">25,897</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">7,832</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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 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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">10,843</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">3,121</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">1,780</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">5,644</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=gray face=Arial,sans-serif style="border:none;"><font color=gray face=Arial,sans-serif style="font-size:8.0pt;">298</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=40% style="background:#5AC4C4;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 style="font-size:8.0pt;">TOTAL</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">696,219</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">255,018</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">99,165</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">259,070</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">82,967</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;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">(*)&#160; </font><font color=#0D0D0D face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">The
definition of risk for the purpose of this statement includes the following
items on the public balance sheet: &#8220;Loans and advances to credit institutions&#8221;,
&#8220;Loans and advances&#8221;, &#8220;Debt securities&#8221;, &#8220;Equity instruments&#8221;, &#8220;Other equity
securities&#8221;, &#8220;Derivatives and hedging derivatives&#8221;, &#8220;Investments in
subsidiaries, joint ventures and associates&#8221; and &#8220;Guarantees given and
contingent risks&#8221;. The amounts included in this table are net of loss allowances</font><font face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;line-height:115%;">.&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.XI_043_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">December 2018
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:32.25pt;">
  <td nowrap width=40% 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 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">TOTAL (*)</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Spain</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">European Union Other</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">America</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Other</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=40% 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;">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 style="font-size:8.0pt;">113,978</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 style="font-size:8.0pt;">35,728</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 style="font-size:8.0pt;">33,440</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 style="font-size:8.0pt;">31,234</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 style="font-size:8.0pt;">13,575</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=40% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 style="font-size:8.0pt;">123,382</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 style="font-size:8.0pt;">53,686</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 style="font-size:8.0pt;">11,081</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 style="font-size:8.0pt;">50,092</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 style="font-size:8.0pt;">8,523</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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;">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 style="font-size:8.0pt;">87,611</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 style="font-size:8.0pt;">35,691</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 style="font-size:8.0pt;">10,756</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 style="font-size:8.0pt;">32,735</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 style="font-size:8.0pt;">8,428</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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;">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 style="font-size:8.0pt;">35,771</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 style="font-size:8.0pt;">17,995</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 style="font-size:8.0pt;">325</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 style="font-size:8.0pt;">17,357</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 style="font-size:8.0pt;">95</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=40% 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 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 style="font-size:8.0pt;">49,166</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 style="font-size:8.0pt;">13,784</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 style="font-size:8.0pt;">17,977</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 style="font-size:8.0pt;">15,345</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 style="font-size:8.0pt;">2,061</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom 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=EN-US 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 style="font-size:8.0pt;">226,487</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 style="font-size:8.0pt;">70,536</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 style="font-size:8.0pt;">24,565</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 style="font-size:8.0pt;">87,419</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 style="font-size:8.0pt;">43,967</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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;">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 style="font-size:8.0pt;">17,697</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 style="font-size:8.0pt;">3,497</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 style="font-size:8.0pt;">244</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 style="font-size:8.0pt;">10,113</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 style="font-size:8.0pt;">3,843</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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;">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 style="font-size:8.0pt;">11,430</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 style="font-size:8.0pt;">5,789</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 style="font-size:8.0pt;">1,535</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 style="font-size:8.0pt;">1,762</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 style="font-size:8.0pt;">2,343</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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;">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 style="font-size:8.0pt;">197,361</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 style="font-size:8.0pt;">61,250</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 style="font-size:8.0pt;">22,786</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 style="font-size:8.0pt;">75,543</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 style="font-size:8.0pt;">37,781</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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;">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 style="font-size:8.0pt;">137,150</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 style="font-size:8.0pt;">36,964</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 style="font-size:8.0pt;">22,114</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 style="font-size:8.0pt;">53,423</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 style="font-size:8.0pt;">24,649</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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;">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 style="font-size:8.0pt;">60,211</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 style="font-size:8.0pt;">24,286</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 style="font-size:8.0pt;">672</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 style="font-size:8.0pt;">22,120</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 style="font-size:8.0pt;">13,132</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=40% 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 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 style="font-size:8.0pt;">163,443</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 style="font-size:8.0pt;">91,977</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 style="font-size:8.0pt;">3,383</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 style="font-size:8.0pt;">56,777</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 style="font-size:8.0pt;">11,306</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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;">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 style="font-size:8.0pt;">111,007</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 style="font-size:8.0pt;">78,414</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 style="font-size:8.0pt;">765</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 style="font-size:8.0pt;">28,034</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 style="font-size:8.0pt;">3,794</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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;">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 style="font-size:8.0pt;">40,124</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 style="font-size:8.0pt;">10,303</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 style="font-size:8.0pt;">629</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 style="font-size:8.0pt;">22,036</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 style="font-size:8.0pt;">7,155</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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 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 style="font-size:8.0pt;">12,312</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 style="font-size:8.0pt;">3,259</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 style="font-size:8.0pt;">1,989</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 style="font-size:8.0pt;">6,707</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 style="font-size:8.0pt;">357</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=40% style="background:#5AC4C4;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 style="font-size:8.0pt;">TOTAL</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">676,456</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">265,710</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">90,447</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">240,867</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 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: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:6.0pt;line-height:115%;">(*)&#160; The definition of risk for the
purpose of this statement includes the following items on the public balance
sheet: &#8220;Loans and advances to credit institutions&#8221;, &#8220;Loans and advances&#8221;, &#8220;Debt
securities&#8221;, &#8220;Equity instruments&#8221;, &#8220;Other equity securities&#8221;, &#8220;Derivatives and
hedging derivatives&#8221;, &#8220;Investments in subsidiaries, joint ventures and
associates&#8221; and &#8220;Guarantees given and contingent risks&#8221;. The amounts included
in this table are net of loss allowances.
</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-203</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</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>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.XI_044anual_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:8.0pt;">December 2017 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:32.25pt;">
  <td nowrap width=40% 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 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">TOTAL(*)</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Spain</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">European Union Other</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">America</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Other</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=40% 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;">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 style="font-size:8.0pt;">70,141</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 style="font-size:8.0pt;">10,606</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 style="font-size:8.0pt;">34,623</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 style="font-size:8.0pt;">13,490</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 style="font-size:8.0pt;">11,422</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td nowrap valign=bottom width=40% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 style="font-size:8.0pt;">121,863</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 style="font-size:8.0pt;">55,391</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 style="font-size:8.0pt;">11,940</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 style="font-size:8.0pt;">44,191</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 style="font-size:8.0pt;">10,341</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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;">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 style="font-size:8.0pt;">83,673</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 style="font-size:8.0pt;">35,597</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 style="font-size:8.0pt;">11,625</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 style="font-size:8.0pt;">26,211</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 style="font-size:8.0pt;">10,240</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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;">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 style="font-size:8.0pt;">38,190</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 style="font-size:8.0pt;">19,794</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 style="font-size:8.0pt;">316</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 style="font-size:8.0pt;">17,980</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 style="font-size:8.0pt;">101</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=40% 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 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 style="font-size:8.0pt;">48,000</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 style="font-size:8.0pt;">19,175</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 style="font-size:8.0pt;">14,283</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 style="font-size:8.0pt;">12,469</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 style="font-size:8.0pt;">2,074</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom 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=EN-US 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 style="font-size:8.0pt;">228,227</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 style="font-size:8.0pt;">78,507</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 style="font-size:8.0pt;">20,485</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 style="font-size:8.0pt;">80,777</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 style="font-size:8.0pt;">48,458</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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;">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 style="font-size:8.0pt;">18,619</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 style="font-size:8.0pt;">4,623</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 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 style="font-size:8.0pt;">8,834</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 style="font-size:8.0pt;">4,822</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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;">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 style="font-size:8.0pt;">12,348</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 style="font-size:8.0pt;">6,936</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 style="font-size:8.0pt;">1,302</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 style="font-size:8.0pt;">2,267</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 style="font-size:8.0pt;">1,843</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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;">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 style="font-size:8.0pt;">197,260</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 style="font-size:8.0pt;">66,948</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 style="font-size:8.0pt;">18,843</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 style="font-size:8.0pt;">69,676</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 style="font-size:8.0pt;">41,793</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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;">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 style="font-size:8.0pt;">134,454</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 style="font-size:8.0pt;">43,286</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 style="font-size:8.0pt;">17,470</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 style="font-size:8.0pt;">48,016</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 style="font-size:8.0pt;">25,681</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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;">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 style="font-size:8.0pt;">62,807</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 style="font-size:8.0pt;">23,662</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 style="font-size:8.0pt;">1,373</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 style="font-size:8.0pt;">21,660</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 style="font-size:8.0pt;">16,112</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td nowrap valign=bottom width=40% 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 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 style="font-size:8.0pt;">165,667</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 style="font-size:8.0pt;">93,774</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 style="font-size:8.0pt;">3,609</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 style="font-size:8.0pt;">53,615</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 style="font-size:8.0pt;">14,669</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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;">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 style="font-size:8.0pt;">114,710</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 style="font-size:8.0pt;">81,815</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 style="font-size:8.0pt;">2,720</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 style="font-size:8.0pt;">24,815</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 style="font-size:8.0pt;">5,361</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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;">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 style="font-size:8.0pt;">40,705</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 style="font-size:8.0pt;">8,711</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 style="font-size:8.0pt;">649</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 style="font-size:8.0pt;">22,759</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 style="font-size:8.0pt;">8,587</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=40% 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 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 style="font-size:8.0pt;">10,251</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 style="font-size:8.0pt;">3,248</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 style="font-size:8.0pt;">241</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 style="font-size:8.0pt;">6,041</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 style="font-size:8.0pt;">721</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td nowrap width=40% style="background:#5AC4C4;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 style="font-size:8.0pt;">TOTAL</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">633,899</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">257,453</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">84,940</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">204,542</font></b></font></p>
  </td>
 <td nowrap width=12% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:8.0pt;">86,964</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;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:6.0pt;line-height:115%;">(*)&#160; The definition of risk for the
purpose of this statement includes the following items on the public balance
sheet: &#8220;Loans and advances to credit institutions&#8221;, &#8220;Loans and advances&#8221;, &#8220;Debt
securities&#8221;, &#8220;Equity instruments&#8221;, &#8220;Other equity securities&#8221;, &#8220;Derivatives and
hedging derivatives&#8221;, &#8220;Investments in subsidiaries, joint ventures and
associates&#8221; and &#8220;Guarantees given and contingent risks&#8221;. The amounts included
in this table are net of loss allowances.</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:avoid;text-align:justify;text-indent:-35.45pt;"><a name="_Toc505356002"></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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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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: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:11.0pt;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:11.0pt;layout-grid-mode:char;">. Additional information on risk concentration</font></b></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-36.0pt;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">a)&#160;&#160; Sovereign risk exposure</font></b></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:8.0pt;line-height:115%;">The table
below provides a breakdown of exposure to financial assets (excluding
derivatives and equity instruments), as of December 31, 2019, 2018 and 2017 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:8.0pt;line-height:115%;">comprehensive&nbsp;</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;line-height:115%;">
income, loss allowances or loan-loss provisions:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_Anexo.XI_051dic_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Risk exposure
  by countries (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=bottom width=56% 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 lang=EN-US style="font-size:9.0pt;">&nbsp;</font></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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">Sovereign risk </font></b></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td nowrap 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=#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=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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 2017</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;">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 style="font-size:8.0pt;">55,575 </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 style="font-size:8.0pt;">52,970 </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 style="font-size:8.0pt;">54,625 </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;">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 style="font-size:8.0pt;">7,810 </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 style="font-size:8.0pt;">9,249 </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 style="font-size:8.0pt;">9,827 </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;">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 style="font-size:8.0pt;">7,999 </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 style="font-size:8.0pt;">7,998 </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 style="font-size:8.0pt;">9,825 </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;">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 style="font-size:8.0pt;">924 </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 style="font-size:8.0pt;">529 </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 style="font-size:8.0pt;">722 </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;">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 style="font-size:8.0pt;">224 </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 style="font-size:8.0pt;">362 </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 style="font-size:8.0pt;">259 </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;">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 style="font-size:8.0pt;">43 </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 style="font-size:8.0pt;">51 </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 style="font-size:8.0pt;">41 </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;">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 style="font-size:8.0pt;">93 </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 style="font-size:8.0pt;">122 </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 style="font-size:8.0pt;">383 </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;">Netherlands</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 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 style="font-size:8.0pt;">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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">16 </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;">Romania</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 style="font-size:8.0pt;">480 </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 style="font-size:8.0pt;">493 </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 style="font-size:8.0pt;">417 </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 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 style="font-size:8.0pt;">142 </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 style="font-size:8.0pt;">197 </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 style="font-size:8.0pt;">229 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="background:#5AC4C4;border:none;border-bottom:solid 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 Europe</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">73,291</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">71,981</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">76,343</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;">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 style="font-size:8.0pt;">32,630 </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 style="font-size:8.0pt;">26,562 </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 style="font-size:8.0pt;">25,114 </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;">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 style="font-size:8.0pt;">19,802 </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 style="font-size:8.0pt;">18,645 </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 style="font-size:8.0pt;">14,059 </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;">Colombia</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 style="font-size:8.0pt;">1,828 </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 style="font-size:8.0pt;">2,577 </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 style="font-size:8.0pt;">2,320 </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;">Argentina</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 style="font-size:8.0pt;">1,557 </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 style="font-size:8.0pt;">628 </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 style="font-size:8.0pt;">1,192 </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;">Peru</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 style="font-size:8.0pt;">582 </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 style="font-size:8.0pt;">750 </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 style="font-size:8.0pt;">535 </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;">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 style="font-size:8.0pt;">7 </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 style="font-size:8.0pt;">1 </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 style="font-size:8.0pt;">137 </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 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 style="font-size:8.0pt;">3,726 </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 style="font-size:8.0pt;">955 </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 style="font-size:8.0pt;">1,761 </font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="background:#5AC4C4;border:none;border-bottom:solid 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 rest of
  countries</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">60,131</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">50,118</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">45,119</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=56% style="background:#5AC4C4;border:none;border-bottom:solid 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=EN-US style="font-size:8.0pt;">Total exposure
  to financial instruments</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">133,421</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">122,099</font></b></font></p>
  </td>
 <td nowrap width=14% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">121,462</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:8.0pt;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>

<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:8.0pt;line-height:115%;">The table
below provides a breakdown of the exposure of the Group&#8217;s credit institutions
to sovereign risk as of December 31, 2019 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 title="F_I_Anexo.XI_061DIC_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:5.0pt;">Exposure to
  Sovereign Risk by European Union Countries. </font></font><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:5.0pt;">December 2019
  (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=bottom width=23% 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:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% 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=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:5.0pt;">%</font></b></font></p>
  </td>
 </tr>
<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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=7% 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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:5.0pt;">&nbsp;</font></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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=right style="border:none;margin:0cm;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=7% style="border:none;border-bottom:solid black 1.0pt;height:71.25pt;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=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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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 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=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif 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 style="font-size:5.0pt;">23,925 </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 style="font-size:5.0pt;">26,980 </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 style="font-size:5.0pt;">800 </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 style="font-size:5.0pt;">30 </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 style="font-size:5.0pt;">(17)</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 style="font-size:5.0pt;">(877)</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 style="font-size:5.0pt;">1,191 </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 style="font-size:5.0pt;">(2,195)</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 style="font-size:5.0pt;">49,836 </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 style="font-size:5.0pt;">39%</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 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=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif 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 style="font-size:5.0pt;">4,887 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">3,183 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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: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 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 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 style="font-size:5.0pt;">(722)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">287 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">(1,088)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">6,547 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">5%</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 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=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif 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 style="font-size:5.0pt;">1,854 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">180 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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: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 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 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 style="font-size:5.0pt;">377 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">1,788 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">(1,347)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">2,775 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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: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 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=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif 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 style="font-size:5.0pt;">486 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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: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 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 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 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 style="font-size:5.0pt;">199 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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: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 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 style="font-size:5.0pt;">675 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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: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 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=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif 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 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 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 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 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 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 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 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 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 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 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 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=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif 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 style="font-size:5.0pt;">468 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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: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 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 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 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 style="font-size:5.0pt;">388 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">208 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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: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 style="font-size:5.0pt;">1,082 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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: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 style="font-size:5.0pt;">Netherlands</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=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif 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 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 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 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 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 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 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 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 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 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 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 style="font-size:5.0pt;">Romania</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=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif 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 style="font-size:5.0pt;">479 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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: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 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 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 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 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 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 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 style="font-size:5.0pt;">480 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">0%</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 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=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif 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 style="font-size:5.0pt;">370 </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 style="font-size:5.0pt;">61 </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 style="font-size:5.0pt;">142 </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 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 style="font-size:5.0pt;">(2)</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 style="font-size:5.0pt;">(35)</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 style="font-size:5.0pt;">2 </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 style="font-size:5.0pt;">(2)</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 style="font-size:5.0pt;">537 </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 style="font-size:5.0pt;">0%</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=23% style="background:#5AC4C4;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 lang=EN-US style="font-size:5.0pt;">Total Exposure
  to Sovereign Counterparties (European Union)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 lang=EN-US style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:5.0pt;">32,467</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:5.0pt;">30,476</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:5.0pt;">942</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:5.0pt;">30</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:5.0pt;">(96)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:5.0pt;">(670)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:5.0pt;">3,482</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:5.0pt;">(4,665)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:5.0pt;">61,967</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:5.0pt;">48%</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 style="font-size:5.0pt;">Mexico</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=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif 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 style="font-size:5.0pt;">21,399 </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 style="font-size:5.0pt;">8,414 </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 style="font-size:5.0pt;">1,492 </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 style="font-size:5.0pt;">2 </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 style="font-size:5.0pt;">(104)</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 style="font-size:5.0pt;">8 </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 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 style="font-size:5.0pt;">(6)</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 style="font-size:5.0pt;">31,204 </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 style="font-size:5.0pt;">24%</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 style="font-size:5.0pt;">The United States</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=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif 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 style="font-size:5.0pt;">8,741 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">11,023 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">29 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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: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 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 style="font-size:5.0pt;">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 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 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 style="font-size:5.0pt;">19,906 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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: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 style="font-size:5.0pt;">Turkey</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=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif 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 style="font-size:5.0pt;">3,739 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">4,234 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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: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 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 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 style="font-size:5.0pt;">(7)</font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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: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 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 style="font-size:5.0pt;">7,957 </font></font></p>
  </td>
 <td nowrap width=7% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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:5.0pt;">6%</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 style="font-size:5.0pt;">Rest of other
  countries</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=white face=Arial,sans-serif style="border:none;"><font color=white face=Arial,sans-serif 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 style="font-size:5.0pt;">5,376 </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 style="font-size:5.0pt;">2,212 </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 style="font-size:5.0pt;">2,463 </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 style="font-size:5.0pt;">46 </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 style="font-size:5.0pt;">(200)</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 style="font-size:5.0pt;">(572)</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 style="font-size:5.0pt;">3,593 </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 style="font-size:5.0pt;">(4,766)</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 style="font-size:5.0pt;">8,152 </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 style="font-size:5.0pt;">6%</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=23% style="background:#5AC4C4;border:none;border-bottom:solid 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:5.0pt;">Total other countries</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:5.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">39,255</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">25,883</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">3,983</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">49</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">(304)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">(459)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">3,638</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">(4,826)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">67,219</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">52%</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=23% style="background:#5AC4C4;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 </font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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=#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 nowrap width=7% style="background:#5AC4C4;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 style="font-size:5.0pt;">71,722</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:5.0pt;">56,359</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:5.0pt;">4,925</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:5.0pt;">79</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:5.0pt;">(400)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:5.0pt;">(1,129)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:5.0pt;">7,120</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:5.0pt;">(9,491)</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:5.0pt;">129,186</font></b></font></p>
  </td>
 <td nowrap width=7% style="background:#5AC4C4;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 style="font-size:5.0pt;">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 face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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>
<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:8.0pt;line-height:115%;">This table shows sovereign risk balances with EBA criteria.
Therefore, sovereign risk of European countries of the Group&#8217;s insurance
companies (&#8364;11,614 million as of December 31, 2019) is not included. Includes
credit derivatives CDS (Credit Default Swaps) shown at fair value.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-36.0pt;"><font face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">b)&#160;&#160; 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:avoid;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:9.0pt;">Quantitative
information 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: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%;">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:8.0pt;line-height:115%;">As of December 31,
2019, 2018 and 2017, exposure to the construction sector and real-estate
activities in Spain stood at &#8364;9,943 &#8364;11,045 and &#8364;11,981 million, respectively.
Of that amount, risk from loans to construction and real-estate development
activities accounted for &#8364;2,649, &#8364;3,183 and &#8364;5,224 million, respectively,
representing 1.4%, 1.7% and 2.9% of loans and advances to customers of the
balance of business in Spain (excluding the general governments) and 0.4%, 0.5%
and 0.8% of the total assets of the Consolidated Group, respectively.</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:8.0pt;line-height:115%;">Lending for real estate development of the loans as of December
31, 2019, 2018 and 2017is shown below:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_XII_094dic_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">December
  2019. 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=60% 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 lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Gross amount</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Drawn over the guarantee value</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Accumulated impairment</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=60% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">2,649</font></b></font></p>
  </td>
 <td nowrap width=13% 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:6.0pt;">688</font></b></font></p>
  </td>
 <td nowrap width=13% 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:6.0pt;">(286)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=60% 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 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">567</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">271</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">(252)</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=60% 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;">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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=13% 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=13% 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=60% 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;">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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">2,265</font></i></font></p>
  </td>
 <td nowrap width=13% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=13% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=60% 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;">Memorandum item:</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</font></i></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=60% 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 lang=EN-US style="font-size:6.0pt;">Total loans
  and advances to customers, excluding the General Governments (Business in
  Spain) (book value)</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">185,893</font></i></font></p>
  </td>
 <td nowrap width=13% style="background:#E9E9E9;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 style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=13% style="background:#E9E9E9;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 style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=60% 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=EN-US style="font-size:6.0pt;">Total
  consolidated assets (total business) (book value)</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">698,690</font></i></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=13% 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 style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=60% 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 lang=EN-US 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">(4,934)</font></i></font></p>
  </td>
 <td nowrap width=13% style="background:#E9E9E9;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 style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=13% style="background:#E9E9E9;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 style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
</table></div>



<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:8.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_XII_091_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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=59% 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 lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Drawn over the guarantee value</font></b></font></p>
  </td>
 <td width=13% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Accumulated impairment</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.0pt;">
  <td width=59% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">941</font></b></font></p>
  </td>
 <td nowrap width=13% 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:6.0pt;">(537)</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=59% 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 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">440</font></i></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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">(463)</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=59% 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;">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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=13% 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=59% 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;">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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">2,619</font></i></font></p>
  </td>
 <td nowrap width=14% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=13% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=59% 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;">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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 <td nowrap width=13% 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></i></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=59% 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 lang=EN-US style="font-size:6.0pt;">Total loans
  and advances to customers, excluding the General Governments (Business in
  Spain) (book value)</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">183,196</font></i></font></p>
  </td>
 <td nowrap width=14% style="background:#E9E9E9;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=13% style="background:#E9E9E9;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=59% 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=EN-US style="font-size:6.0pt;">Total
  consolidated assets (total business) (book value)</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">676,689</font></i></font></p>
  </td>
 <td nowrap width=14% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=13% style="background:#E9E9E9;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 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=59% 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 lang=EN-US 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">(4,938)</font></i></font></p>
  </td>
 <td nowrap width=14% style="background:#E9E9E9;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=13% style="background:#E9E9E9;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</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 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 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><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</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>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_XII_093anual_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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 lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif 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 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif 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 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">2,289</font></i></font></p>
  </td>
 <td nowrap width=14% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif 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;">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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif 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 lang=EN-US style="font-size:6.0pt;">Total loans
  and advances to customers, excluding the General Governments (Business in
  Spain) (book Value)</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">174,014</font></i></font></p>
  </td>
 <td nowrap width=14% style="background:#E9E9E9;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% style="background:#E9E9E9;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif 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=EN-US style="font-size:6.0pt;">Total consolidated
  assets (total business) (book value)</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">690,059</font></i></font></p>
  </td>
 <td nowrap width=14% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif 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 lang=EN-US 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">(5,843)</font></i></font></p>
  </td>
 <td nowrap width=14% style="background:#E9E9E9;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=14% style="background:#E9E9E9;height:16.5pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif 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;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%;">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 title="F_I_XII_121_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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 lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 2017</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">298</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">552</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">2,351</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">4,672</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 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 style="font-size:8.0pt;">1,461</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 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 style="font-size:8.0pt;">2,904</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">1,088</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">2,027</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">373</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">877</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 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 style="font-size:8.0pt;">545</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 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 style="font-size:8.0pt;">462</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">348</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">439</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">197</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">23</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 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 style="font-size:8.0pt;">345</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 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 style="font-size:8.0pt;">1,306</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">240</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">704</font></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 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;">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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">105</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">602</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=54% style="background:#5AC4C4;border:none;border-bottom:solid 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</font></b></font></p>
  </td>
 <td nowrap width=16% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">2,649</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">3,183</font></b></font></p>
  </td>
 <td nowrap width=15% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">5,224</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:8.0pt;line-height:115%;">As of December 31, 2019, 2018 and 2017, 55.2%, 58.5%, and 55.6% of
loans to developers were guaranteed with buildings (74.5%, 74.3% and 69.8%, are
homes), and only 13.0%, 17.8% and 25.0% by land, of which 69.6%, 64.3% and
53.9% % 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:8.0pt;line-height:115%;">The table
below provides the breakdown of the financial guarantees given as of December
31, December 31, 2019, 2018 and 2017:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_XII_191_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Financial
  guarantees given (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td width=52% 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=EN-US style="font-size:8.0pt;">&nbsp;</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 2019</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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:8.0pt;">December 2017</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 style="font-size:8.0pt;">Houses purchase loans</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 style="font-size:8.0pt;">44</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 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 style="font-size:8.0pt;">64</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td valign=bottom width=52% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="border:none;margin:0cm;margin-bottom:.0001pt;"><font color=black face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif style="font-size:8.0pt;">Without mortgage</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 style="font-size:8.0pt;">5</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 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 style="font-size:8.0pt;">12</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-207</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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: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:8.0pt;line-height:115%;">The information on the retail
mortgage portfolio risk (housing mortgage) as of December 31, December 31,
2019, 2018 and 2017is as follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_XII_131anual_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">December
  2019. Financing allocated by credit institutions to construction and Real
  Estate development and lending for house purchase. </font></font><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:7.0pt;">(Millions of euros)</font></font></p>
  </td>
 </tr>
<tr style="height:28.5pt;">
  <td width=56% 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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=22% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Gross amount</font></b></font></p>
  </td>
 <td width=22% 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=#002146 face=Arial,sans-serif style="border:none;"><b><i><font color=#002146 face=Arial,sans-serif style="font-size:7.0pt;">Of which: impaired loans</font></i></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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:7.0pt;">Houses purchase loans</font></font></p>
  </td>
 <td nowrap width=22% 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 style="font-size:7.0pt;">76,961</font></font></p>
  </td>
 <td nowrap width=22% 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 style="font-size:7.0pt;">2,943</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">Without mortgage</font></font></p>
  </td>
 <td nowrap width=22% style="height:13.5pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">1,672</font></font></p>
  </td>
 <td nowrap width=22% style="height:13.5pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">22</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">With mortgage</font></font></p>
  </td>
 <td nowrap width=22% style="height:13.5pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">75,289</font></font></p>
  </td>
 <td nowrap width=22% style="height:13.5pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">2,921</font></font></p>
  </td>
 </tr>
</table></div>



<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:8.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_XII_132anual_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">December
  2018. Financing allocated by credit institutions to construction and Real
  Estate development and lending for house purchase. </font></font><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:7.0pt;">(Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:28.5pt;">
  <td width=56% 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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=22% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Gross amount</font></b></font></p>
  </td>
 <td width=22% 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=#002146 face=Arial,sans-serif style="border:none;"><b><i><font color=#002146 face=Arial,sans-serif style="font-size:7.0pt;">Of which: impaired loans</font></i></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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:7.0pt;">Houses purchase loans</font></font></p>
  </td>
 <td nowrap width=22% 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 style="font-size:7.0pt;">80,159</font></font></p>
  </td>
 <td nowrap width=22% 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 style="font-size:7.0pt;">3,852</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">Without mortgage</font></font></p>
  </td>
 <td nowrap width=22% style="height:13.5pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">1,611</font></font></p>
  </td>
 <td nowrap width=22% style="height:13.5pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">30</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">With mortgage</font></font></p>
  </td>
 <td nowrap width=22% style="height:13.5pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">78,548</font></font></p>
  </td>
 <td nowrap width=22% style="height:13.5pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">3,822</font></font></p>
  </td>
 </tr>
</table></div>



<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:8.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_XII_133anual_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:7.0pt;">December
  2017. Financing allocated by credit institutions to construction and Real
  Estate development and lending for house purchase. </font></font><font color=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif style="font-size:7.0pt;">(Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:28.5pt;">
  <td width=56% 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:7.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=22% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:7.0pt;">Gross amount</font></b></font></p>
  </td>
 <td width=22% 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=#002146 face=Arial,sans-serif style="border:none;"><b><i><font color=#002146 face=Arial,sans-serif style="font-size:7.0pt;">Of which: impaired loans</font></i></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td 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:7.0pt;">Houses purchase loans</font></font></p>
  </td>
 <td nowrap width=22% 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 style="font-size:7.0pt;">83,505</font></font></p>
  </td>
 <td nowrap width=22% 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 style="font-size:7.0pt;">4,821</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">Without mortgage</font></font></p>
  </td>
 <td nowrap width=22% style="height:13.5pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">1,578</font></font></p>
  </td>
 <td nowrap width=22% style="height:13.5pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">51</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">With mortgage</font></font></p>
  </td>
 <td nowrap width=22% style="height:13.5pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">81,927</font></font></p>
  </td>
 <td nowrap width=22% style="height:13.5pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:7.0pt;">4,770</font></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:8.0pt;line-height:115%;">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 title="F_I_XII_144DIC_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">LTV breakdown
  of mortgage to households for the purchase of a home (business in Spain)
  (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=navy face=Arial,sans-serif style="border:none;"><font color=navy face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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 align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif lang=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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 style="font-size:8.0pt;">Gross amount 2019</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 style="font-size:8.0pt;">15,105</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 style="font-size:8.0pt;">19,453</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 style="font-size:8.0pt;">20,424</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 style="font-size:8.0pt;">11,827</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 style="font-size:8.0pt;">8,480</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 style="font-size:8.0pt;">75,289</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 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">182</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">313</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">506</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">544</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">1,376</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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:8.0pt;">2,921</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 style="font-size:8.0pt;">Gross amount 2018</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 style="font-size:8.0pt;">14,491</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 style="font-size:8.0pt;">18,822</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 style="font-size:8.0pt;">21,657</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 style="font-size:8.0pt;">13,070</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">10,508</font></font></p>
  </td>
 <td nowrap width=11% style="height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif 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 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 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 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 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 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 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 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 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif 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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif 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;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:8.0pt;line-height:115%;">Outstanding home mortgage loans as of December 31, 2019, 2018 and
2017 had an average LTV of 47%, 49%, and 51% 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:8.0pt;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 align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_XII_154dic_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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 nowrap valign=bottom width=51% 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 lang=EN-US style="font-size:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=9% 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=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=4 width=40% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">December 2019</font></b></font></p>
  </td>
 </tr>
<tr style="height:57.75pt;">
  <td width=51% 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 style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=9% 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 style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Value</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Provisions</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: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=#072146 face=Arial,sans-serif style="border:none;"><b><i><font color=#072146 face=Arial,sans-serif lang=EN-US 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=10% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Carrying amount</font></b></font></p>
  </td>
 </tr>
<tr style="height:21.0pt;">
  <td width=51% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US 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=9% 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 lang=EN-US 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: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 style="font-size:6.0pt;">1,048</font></b></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">555</font></b></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">266</font></b></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">493</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=51% 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;">Terminated buildings</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 style="font-size:6.0pt;">&nbsp;</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 style="font-size:6.0pt;">378</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 style="font-size:6.0pt;">150</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 style="font-size:6.0pt;">58</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 style="font-size:6.0pt;">228</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=51% 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:6.0pt;">Homes</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.25pt;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:6.0pt;">&nbsp;</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">221</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">81</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">33</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">140</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=51% 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:6.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.25pt;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:6.0pt;">&nbsp;</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">157</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">69</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">25</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">88</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=51% 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;">Buildings under
  construction</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">&nbsp;</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 style="font-size:6.0pt;">79</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 style="font-size:6.0pt;">44</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 style="font-size:6.0pt;">24</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 style="font-size:6.0pt;">35</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=51% 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:6.0pt;">Homes</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.25pt;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:6.0pt;">&nbsp;</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">78</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">43</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">24</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">35</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=51% 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:6.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.25pt;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:6.0pt;">&nbsp;</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">1</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">1</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=51% 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;">Land</font></font></p>
  </td>
 <td nowrap width=9% 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 style="font-size:6.0pt;">&nbsp;</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 style="font-size:6.0pt;">591</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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">184</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 style="font-size:6.0pt;">230</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=51% 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:6.0pt;">Urbanized land</font></font></p>
  </td>
 <td nowrap width=9% style="height:11.25pt;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:6.0pt;">&nbsp;</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">547</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">338</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">167</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">209</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=51% 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 style="font-size:6.0pt;">Rest of land</font></font></p>
  </td>
 <td nowrap width=9% style="border:none;border-bottom:solid black 1.0pt;height:11.25pt;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:6.0pt;">&nbsp;</font></font></p>
  </td>
 <td nowrap width=10% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">44</font></font></p>
  </td>
 <td nowrap width=10% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">23</font></font></p>
  </td>
 <td nowrap width=10% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">17</font></font></p>
  </td>
 <td nowrap width=10% 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">21</font></font></p>
  </td>
 </tr>
<tr style="height:18.75pt;">
  <td valign=bottom width=51% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US 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=9% 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 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US 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: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=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:6.0pt;">1,192</font></b></font></p>
  </td>
 <td nowrap 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=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:6.0pt;">612</font></b></font></p>
  </td>
 <td nowrap 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=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:6.0pt;">153</font></b></font></p>
  </td>
 <td nowrap 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=#004580 face=Arial,sans-serif style="border:none;"><b><font color=#004580 face=Arial,sans-serif style="font-size:6.0pt;">580</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=51% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Rest of
  foreclosed real estate assets </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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US 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:12.75pt;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;">451</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">233</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">37</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">218</font></b></font></p>
  </td>
 </tr>
<tr style="height:24.75pt;">
  <td valign=bottom width=51% 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=EN-US 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=9% 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 lang=EN-US 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: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;">1,380</font></b></font></p>
  </td>
 <td nowrap width=10% 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;">293</font></b></font></p>
  </td>
 <td nowrap width=10% 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;">255</font></b></font></p>
  </td>
 <td nowrap width=10% 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;">1,087</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=51% style="background:#5AC4C4;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:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">4,071</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">1,693</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">711</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">2,378</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-208</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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 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:8.0pt;line-height:115%;">&nbsp;</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_XII_152_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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 nowrap valign=bottom width=50% style="border:none;height:15.0pt;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 lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap valign=bottom width=10% style="border:none;height:15.0pt;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 lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td colspan=4 width=40% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">December 2018</font></b></font></p>
  </td>
 </tr>
<tr style="height:51.0pt;">
  <td width=50% 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 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:51.0pt;padding:0cm 0cm 0cm 0cm;">
  <p align=right style="border:none;margin: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>
 <td width=10% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Value</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:51.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Provisions</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:51.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><i><font color=#072146 face=Arial,sans-serif lang=EN-US 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=10% 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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Carrying amount</font></b></font></p>
  </td>
 </tr>
<tr style="height:22.5pt;">
  <td width=50% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US 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=10% style="border:none;border-bottom:solid black 1.0pt;height:22.5pt;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=EN-US 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: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 style="font-size:6.0pt;">2,165</font></b></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">1,252</font></b></font></p>
  </td>
 <td nowrap width=10% 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><i><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">828</font></i></b></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">913</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:6.0pt;">Terminated buildings</font></font></p>
  </td>
 <td nowrap 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:6.0pt;">&nbsp;</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 style="font-size:6.0pt;">991</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 style="font-size:6.0pt;">445</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;"><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">274</font></i></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 style="font-size:6.0pt;">546</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=50% 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:6.0pt;">Homes</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.25pt;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:6.0pt;">&nbsp;</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 style="font-size:6.0pt;">588</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 style="font-size:6.0pt;">245</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;"><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">144</font></i></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 style="font-size:6.0pt;">343</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=50% 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:6.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.25pt;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:6.0pt;">&nbsp;</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 style="font-size:6.0pt;">403</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 style="font-size:6.0pt;">200</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;"><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">130</font></i></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 style="font-size:6.0pt;">203</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:6.0pt;">Buildings under
  construction</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">&nbsp;</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 style="font-size:6.0pt;">209</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 style="font-size:6.0pt;">131</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;"><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">96</font></i></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 style="font-size:6.0pt;">78</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=50% 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:6.0pt;">Homes</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.25pt;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:6.0pt;">&nbsp;</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 style="font-size:6.0pt;">194</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 style="font-size:6.0pt;">117</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;"><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">85</font></i></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 style="font-size:6.0pt;">77</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=50% 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:6.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.25pt;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:6.0pt;">&nbsp;</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 style="font-size:6.0pt;">15</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 style="font-size:6.0pt;">14</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;"><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">11</font></i></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 style="font-size:6.0pt;">1</font></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td 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 style="font-size:6.0pt;">Land</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">&nbsp;</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 style="font-size:6.0pt;">965</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 style="font-size:6.0pt;">676</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;"><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">458</font></i></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 style="font-size:6.0pt;">289</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=50% 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:6.0pt;">Urbanized land</font></font></p>
  </td>
 <td nowrap width=10% style="height:11.25pt;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:6.0pt;">&nbsp;</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 style="font-size:6.0pt;">892</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 style="font-size:6.0pt;">633</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;"><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">421</font></i></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 style="font-size:6.0pt;">259</font></font></p>
  </td>
 </tr>
<tr style="height:11.25pt;">
  <td width=50% 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 style="font-size:6.0pt;">Rest of land</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=right style="border:none;margin: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 nowrap width=10% 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 style="font-size:6.0pt;">73</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">43</font></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">37</font></i></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">30</font></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td valign=bottom width=50% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US 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=10% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;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=EN-US 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: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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">1,797</font></b></font></p>
  </td>
 <td nowrap width=10% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">932</font></b></font></p>
  </td>
 <td nowrap width=10% 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=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">331</font></i></b></font></p>
  </td>
 <td nowrap width=10% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">865</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=50% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Rest of
  foreclosed real estate assets </font></b></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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US 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:12.75pt;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;">348</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">192</font></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">40</font></i></b></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">156</font></b></font></p>
  </td>
 </tr>
<tr style="height:20.25pt;">
  <td valign=bottom width=50% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US 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=10% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US 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: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 style="font-size:6.0pt;">1,345</font></b></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">234</font></b></font></p>
  </td>
 <td nowrap width=10% 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><i><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">234</font></i></b></font></p>
  </td>
 <td nowrap width=10% 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 style="font-size:6.0pt;">1,111</font></b></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=50% style="background:#5AC4C4;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:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">5,655</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">2,610</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p 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 style="font-size:6.0pt;">1,433</font></i></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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: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:8.0pt;line-height:115%;">Additionally, in December 2018, there was an increase of BBVA,
S.A.&#8217;s stake in Garanti Yatirim Ortakligi AS &#160;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 title="F_I_XII_153anual_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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 nowrap valign=bottom width=46% style="border:none;height:15.0pt;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 lang=EN-US style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% 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=EN-US 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">December 2017</font></b></font></p>
  </td>
 </tr>
<tr style="height:53.25pt;">
  <td width=46% style="border:none;border-bottom:solid black 1.0pt;height:53.25pt;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 nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:53.25pt;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:10.0pt;">&nbsp;</font></font></p>
  </td>
 <td width=11% 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><i><font color=#072146 face=Arial,sans-serif lang=EN-US 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: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=#072146 face=Arial,sans-serif style="border:none;"><b><font color=#072146 face=Arial,sans-serif style="font-size:6.0pt;">Carrying amount</font></b></font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td width=46% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US 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=10% 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 lang=EN-US 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: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 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: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 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: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><i><font color=#004481 face=Arial,sans-serif 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: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 style="font-size:6.0pt;">2,079</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td 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 style="font-size:6.0pt;">Finished buildings</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=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;height:14.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">2,191</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 style="font-size:6.0pt;">1,184</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;"><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">606</font></i></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 style="font-size:6.0pt;">1,007</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=46% 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 style="font-size:6.0pt;">Homes</font></font></p>
  </td>
 <td nowrap width=10% style="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 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">1,368</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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">742</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;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 style="font-size:6.0pt;">366</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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">626</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=46% 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 style="font-size:6.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=10% style="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 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">823</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">240</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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">381</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td 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 style="font-size:6.0pt;">Buildings under
  construction</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:6.0pt;">&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 style="font-size:6.0pt;">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 style="font-size:6.0pt;">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;"><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">192</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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">182</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=46% 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 style="font-size:6.0pt;">Homes</font></font></p>
  </td>
 <td nowrap width=10% style="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 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">521</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">347</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;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 style="font-size:6.0pt;">188</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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">174</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=46% 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 style="font-size:6.0pt;">Other</font></font></p>
  </td>
 <td nowrap width=10% style="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 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">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=#666666 face=Arial,sans-serif style="border:none;"><i><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">4</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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">8</font></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td 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 style="font-size:6.0pt;">Land</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:6.0pt;">&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 style="font-size:6.0pt;">3,697</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 style="font-size:6.0pt;">2,807</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;"><i><font color=black face=Arial,sans-serif style="font-size:6.0pt;">1,744</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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">890</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=46% 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 style="font-size:6.0pt;">Urbanized land</font></font></p>
  </td>
 <td nowrap width=10% style="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 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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">1,932</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;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;"><font color=#666666 face=Arial,sans-serif style="font-size:6.0pt;">1,458</font></font></p>
  </td>
 <td nowrap width=11% style="height:13.5pt;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 style="font-size:6.0pt;">1,031</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;"><font color=black face=Arial,sans-serif style="font-size:6.0pt;">474</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 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;">Rest of land</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 style="font-size:6.0pt;">&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=#666666 face=Arial,sans-serif style="border:none;"><font color=#666666 face=Arial,sans-serif 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:13.5pt;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;"><font color=#666666 face=Arial,sans-serif 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:13.5pt;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 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:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">416</font></font></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td valign=bottom width=46% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US 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=10% style="border:none;border-bottom:solid black 1.0pt;height:26.25pt;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=EN-US 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: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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">1,488</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Rest of
  foreclosed real estate assets </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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US 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:14.25pt;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:6.0pt;">1,665</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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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:14.25pt;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;">268</font></i></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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">760</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Foreclosed equity
  instruments</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=#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 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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:14.25pt;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:6.0pt;">325</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=#004481 face=Arial,sans-serif style="border:none;"><b><i><font color=#004481 face=Arial,sans-serif 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:14.25pt;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:6.0pt;">810</font></b></font></p>
  </td>
 </tr>
<tr style="height:14.25pt;">
  <td width=46% style="background:#5AC4C4;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 style="font-size:6.0pt;">Total</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;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 style="font-size:6.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:6.0pt;">12,821</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:6.0pt;">7,684</font></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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><i><font color=white face=Arial,sans-serif style="font-size:6.0pt;">4,036</font></i></b></font></p>
  </td>
 <td nowrap width=11% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:14.25pt;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 style="font-size:6.0pt;">5,137</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-209</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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 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:8.0pt;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>

<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:8.0pt;line-height:115%;">As of December 31, 2019, 2018 and 2017, the gross book value of
the Group&#8217;s real-estate assets from corporate financing of real-estate construction
and development was &#8364;1,048, &#8364;2,165 and &#8364;6,429 million, respectively, with an
average coverage ratio of 53.0%, 57.8% and 67.7%, respectively.</font></font></p>

<p style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-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%;">The gross book
value of real-estate assets from mortgage lending to households for home
purchase as of December 31, 2019, 2018 and 2017, amounted to &#8364;1,192, &#8364;1,797 and
&#8364;3,592 million, respectively, with an average coverage ratio of 51.3%, 51.9%
and 58.6%.</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:8.0pt;line-height:115%;">As of December 31, 2019, 2018 and
2017, 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;2,691, &#8364;4,310 and &#8364;11,686 million, respectively. The coverage
ratio was 52.0%, 55.1% and 63.0%, respectively. </font></font></p>

<h2 style="border:none;margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:10.0pt;page-break-after:avoid;text-align:justify;text-indent:-36.0pt;"><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;">c)&#160;&#160;
Concentration of risk by geography</font></b></font></h2>

<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:8.0pt;line-height:115%;">Below is a
breakdown of the balances of financial instruments registered in the
accompanying consolidated balance sheets by their concentration in geographical
areas and according to the residence of the customer or counterparty. As of
December 31, 2019, 2018 and 2017 it does not take into account loss allowances
or loan-loss provisions:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_XII_164DIC_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">Risks by
  geographical areas. December 2019 (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 align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US 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=center style="border:none;margin:0cm;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;">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=center style="border:none;margin:0cm;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;">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=center style="border:none;margin:0cm;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;">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=center style="border:none;margin:0cm;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;">The United States</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: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=center style="border:none;margin:0cm;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;">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=center style="border:none;margin:0cm;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;">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=center style="border:none;margin:0cm;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</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Derivatives</font></b></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=right style="border:none;margin:0cm;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;">5,346</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">17,251</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">1,344</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">6,425</font></b></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=right style="border:none;margin:0cm;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;">189</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">1,854</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">777</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">33,185</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Equity instruments
  (*)</font></b></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=right style="border:none;margin:0cm;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;">3,745</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">6,184</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">3,829</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">1,311</font></b></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=right style="border:none;margin:0cm;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;">55</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">268</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">247</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">15,639</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Debt securities</font></b></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=right style="border:none;margin:0cm;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;">48,806</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">13,283</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">28,053</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">17,733</font></b></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=right style="border:none;margin:0cm;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;">7,934</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">5,383</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">4,210</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">125,403</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 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 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 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 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 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 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 style="font-size:8.0pt;">1,785</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 style="font-size:8.0pt;">70</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 style="font-size:8.0pt;">1,855</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 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 style="font-size:8.0pt;">41,510</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 style="font-size:8.0pt;">9,403</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 style="font-size:8.0pt;">25,852</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 style="font-size:8.0pt;">14,465</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 style="font-size:8.0pt;">7,921</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 style="font-size:8.0pt;">2,732</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 style="font-size:8.0pt;">2,846</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 style="font-size:8.0pt;">104,728</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 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 style="font-size:8.0pt;">1,237</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 style="font-size:8.0pt;">1,672</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 style="font-size:8.0pt;">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 style="font-size:8.0pt;">150</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 style="font-size:8.0pt;">9</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 style="font-size:8.0pt;">263</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 style="font-size:8.0pt;">611</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 style="font-size:8.0pt;">4,600</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 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 style="font-size:8.0pt;">5,643</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 style="font-size:8.0pt;">1,001</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 style="font-size:8.0pt;">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 style="font-size:8.0pt;">2,085</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 style="font-size:8.0pt;">3</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 style="font-size:8.0pt;">433</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 style="font-size:8.0pt;">136</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 style="font-size:8.0pt;">9,619</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 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 style="font-size:8.0pt;">416</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 style="font-size:8.0pt;">1,207</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 style="font-size:8.0pt;">1,226</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 style="font-size:8.0pt;">1,034</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 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 style="font-size:8.0pt;">170</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 style="font-size:8.0pt;">548</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 style="font-size:8.0pt;">4,602</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">Loans and advances</font></b></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=right style="border:none;margin:0cm;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;">171,668</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">52,024</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">63,505</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">65,044</font></b></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=right style="border:none;margin:0cm;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;">45,872</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">40,787</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">9,267</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:8.0pt;">448,166</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 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 style="font-size:8.0pt;">14</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 style="font-size:8.0pt;">(3)</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 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 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 style="font-size:8.0pt;">3,647</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 style="font-size:8.0pt;">684</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 style="font-size:8.0pt;">478</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 style="font-size:8.0pt;">4,820</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 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 style="font-size:8.0pt;">14,477</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 style="font-size:8.0pt;">394</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 style="font-size:8.0pt;">6,820</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 style="font-size:8.0pt;">5,342</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 style="font-size:8.0pt;">111</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 style="font-size:8.0pt;">1,536</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 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 style="font-size:8.0pt;">29,316</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 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 style="font-size:8.0pt;">6,621</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 style="font-size:8.0pt;">20,544</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 style="font-size:8.0pt;">2,050</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 style="font-size:8.0pt;">648</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 style="font-size:8.0pt;">1,996</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 style="font-size:8.0pt;">1,012</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 style="font-size:8.0pt;">2,112</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 style="font-size:8.0pt;">34,982</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 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 style="font-size:8.0pt;">3,103</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 style="font-size:8.0pt;">13,351</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 style="font-size:8.0pt;">1,611</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 style="font-size:8.0pt;">2,313</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 style="font-size:8.0pt;">1,248</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 style="font-size:8.0pt;">704</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 style="font-size:8.0pt;">752</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 style="font-size:8.0pt;">23,082</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 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 style="font-size:8.0pt;">50,718</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 style="font-size:8.0pt;">14,215</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 style="font-size:8.0pt;">24,823</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 style="font-size:8.0pt;">34,960</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 style="font-size:8.0pt;">26,099</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 style="font-size:8.0pt;">17,963</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 style="font-size:8.0pt;">5,130</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 style="font-size:8.0pt;">173,907</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 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 style="font-size:8.0pt;">96,735</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 style="font-size:8.0pt;">3,523</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 style="font-size:8.0pt;">28,201</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 style="font-size:8.0pt;">21,781</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 style="font-size:8.0pt;">12,773</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 style="font-size:8.0pt;">18,888</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 style="font-size:8.0pt;">158</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 style="font-size:8.0pt;">182,059</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=26% style="background:#5AC4C4;border:none;border-bottom:solid 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=EN-US style="font-size:8.0pt;">Total risk in
  financial assets</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">229,564</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">88,742</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">96,731</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">90,512</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">54,050</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">48,292</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">14,501</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">622,393</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 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 style="font-size:8.0pt;">33,146</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 style="font-size:8.0pt;">26,687</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 style="font-size:8.0pt;">17,361</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 style="font-size:8.0pt;">35,185</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 style="font-size:8.0pt;">8,665</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 style="font-size:8.0pt;">8,060</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 style="font-size:8.0pt;">1,819</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 style="font-size:8.0pt;">130,923</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 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 style="font-size:8.0pt;">3,182</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 style="font-size:8.0pt;">1,605</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 style="font-size:8.0pt;">656</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 style="font-size:8.0pt;">754</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 style="font-size:8.0pt;">3,170</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 style="font-size:8.0pt;">911</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 style="font-size:8.0pt;">705</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 style="font-size:8.0pt;">10,984</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 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 style="font-size:8.0pt;">16,204</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 style="font-size:8.0pt;">9,125</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 style="font-size:8.0pt;">1,534</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 style="font-size:8.0pt;">2,075</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 style="font-size:8.0pt;">5,065</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 style="font-size:8.0pt;">2,808</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 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 style="font-size:8.0pt;">39,209</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=26% style="background:#5AC4C4;border:none;border-bottom:solid 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;">Off-balance sheet
  exposures</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">52,532</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">37,417</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">19,551</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">38,014</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">16,900</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">11,779</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">4,922</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">181,116</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 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 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 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 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 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 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 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 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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=26% style="background:#5AC4C4;border:none;border-bottom:solid 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=EN-US style="font-size:8.0pt;">Total risks in
  financial instruments</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">282,096</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">126,159</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">116,282</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">128,526</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">70,950</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">60,072</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">19,423</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">803,508</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:12.0pt;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:6.0pt;line-height:115%;">(*)&#160;&#160;&#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-210</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</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>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_XII_162_F_XBRL" style="border-collapse:collapse;width:100%;">
 <tr style="height:21.75pt;">
  <td colspan=9 nowrap width=100% style="background:#E9E9E9;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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Risks by geographical areas. December 2018 (Millions of Euros)</font></font></p>
  </td>
 </tr>
<tr style="height:20.25pt;">
  <td width=26% 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 <td width=10% style="border:none;border-bottom:solid black 1.0pt;height:20.25pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002146 face=Arial,sans-serif style="border:none;"><b><font color=#002146 face=Arial,sans-serif style="font-size:8.0pt;">Spain</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002146 face=Arial,sans-serif style="border:none;"><b><font color=#002146 face=Arial,sans-serif 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: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=#002146 face=Arial,sans-serif style="border:none;"><b><font color=#002146 face=Arial,sans-serif style="font-size:8.0pt;">Mexico</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002146 face=Arial,sans-serif style="border:none;"><b><font color=#002146 face=Arial,sans-serif style="font-size:8.0pt;">The United States</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002146 face=Arial,sans-serif style="border:none;"><b><font color=#002146 face=Arial,sans-serif style="font-size:8.0pt;">Turkey</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=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#002146 face=Arial,sans-serif style="border:none;"><b><font color=#002146 face=Arial,sans-serif 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: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 style="font-size:8.0pt;">Other</font></b></font></p>
  </td>
 <td width=10% 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 style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Derivatives</font></b></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=right style="border:none;margin:0cm;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;">3,979</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">16,055</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">1,550</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">7,057</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">161</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">1,150</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">583</font></b></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=right style="border:none;margin:0cm;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;">30,536</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Equity instruments
  (*)</font></b></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=right style="border:none;margin:0cm;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;">3,228</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">3,669</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">2,459</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">1,139</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">29</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">212</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">207</font></b></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=right style="border:none;margin:0cm;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;">10,944</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Debt securities</font></b></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=right style="border:none;margin:0cm;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;">43,777</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">14,908</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">23,134</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">16,991</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">8,048</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">5,274</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">1,312</font></b></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=right style="border:none;margin:0cm;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;">113,445</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:6.0pt;">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 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 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 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 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 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 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 style="font-size:8.0pt;">71</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 style="font-size:8.0pt;">2,052</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:6.0pt;">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 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 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 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 style="font-size:8.0pt;">13,276</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 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 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 style="font-size:8.0pt;">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 style="font-size:8.0pt;">91,877</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:6.0pt;">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 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 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 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 style="font-size:8.0pt;">74</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 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 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 style="font-size:8.0pt;">463</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 style="font-size:8.0pt;">4,514</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:6.0pt;">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 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 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 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 style="font-size:8.0pt;">2,595</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 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 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 style="font-size:8.0pt;">114</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 style="font-size:8.0pt;">10,190</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 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 style="font-size:8.0pt;">1,046</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 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 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 style="font-size:8.0pt;">500</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 style="font-size:8.0pt;">4,812</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">177,077</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">43,034</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">55,248</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">62,193</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">45,285</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">40,007</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">7,089</font></b></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=right style="border:none;margin:0cm;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;">429,933</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:6.0pt;">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 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 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 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 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 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 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 style="font-size:8.0pt;">1,674</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 style="font-size:8.0pt;">6,110</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:6.0pt;">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 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 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 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 style="font-size:8.0pt;">5,369</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 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 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 style="font-size:8.0pt;">453</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 style="font-size:8.0pt;">30,572</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:6.0pt;">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 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 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 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 style="font-size:8.0pt;">696</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 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 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 style="font-size:8.0pt;">639</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 style="font-size:8.0pt;">23,774</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:6.0pt;">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 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 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 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 style="font-size:8.0pt;">2,255</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 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 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 style="font-size:8.0pt;">304</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 style="font-size:8.0pt;">20,773</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:6.0pt;">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 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 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 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 style="font-size:8.0pt;">32,480</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 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 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 style="font-size:8.0pt;">3,852</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 style="font-size:8.0pt;">170,349</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:6.0pt;">Households</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 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 style="font-size:8.0pt;">21,393</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 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 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 style="font-size:8.0pt;">168</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 style="font-size:8.0pt;">178,355</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=26% style="background:#5AC4C4;border:none;border-bottom:solid 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=EN-US style="font-size:6.0pt;">Total risk in
  financial assets</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">228,061</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">77,666</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">82,392</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">87,381</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">53,523</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">46,644</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">9,191</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">584,858</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:6.0pt;">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 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 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 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 style="font-size:8.0pt;">32,136</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 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 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 style="font-size:8.0pt;">1,252</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 style="font-size:8.0pt;">118,959</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:6.0pt;">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 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 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 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 style="font-size:8.0pt;">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 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 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 style="font-size:8.0pt;">1,291</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 style="font-size:8.0pt;">16,454</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:6.0pt;">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 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 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 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 style="font-size:8.0pt;">2,118</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 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 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 style="font-size:8.0pt;">2,213</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 style="font-size:8.0pt;">35,098</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=26% style="background:#5AC4C4;border:none;border-bottom:solid 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;">Off-balance sheet
  exposures</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">51,819</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">32,920</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">16,563</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">35,050</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">17,043</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">12,360</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">4,756</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">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;"><b><font color=black face=Arial,sans-serif 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 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 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 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 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 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 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 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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td width=26% style="background:#5AC4C4;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=EN-US style="font-size:6.0pt;">Total risks in
  financial instruments</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">279,880</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">110,586</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">98,955</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">122,430</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">70,567</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">59,004</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">13,947</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.75pt;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 style="font-size:6.0pt;">755,369</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:12.0pt;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:6.0pt;line-height:115%;">(*)&#160;&#160;&#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-211</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_XII_163anual_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US style="font-size:6.0pt;">Risks by geographical areas. December 2017 (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 align=right style="border:none;margin:0cm;margin-bottom:.0001pt;text-align:right;"><font color=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif lang=EN-US 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 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 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 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 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: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: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 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 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 style="font-size:8.0pt;">Total</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Derivatives</font></b></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=right style="border:none;margin:0cm;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;">6,336</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">20,506</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">1,847</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">4,573</font></b></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=right style="border:none;margin:0cm;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;">113</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">977</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">921</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">35,273</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Equity instruments
  (*)</font></b></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=right style="border:none;margin:0cm;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;">3,539</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">4,888</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">2,050</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">991</font></b></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=right style="border:none;margin:0cm;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;">36</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">333</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">71</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">11,908</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">Debt securities</font></b></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=right style="border:none;margin:0cm;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;">44,773</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">15,582</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">21,594</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">13,280</font></b></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=right style="border:none;margin:0cm;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;">10,601</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">5,861</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">1,450</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">113,141</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:6.0pt;">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 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 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 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 style="font-size:8.0pt;">2,734</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 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 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 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 style="font-size:8.0pt;">5,468</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:6.0pt;">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 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 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 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 style="font-size:8.0pt;">8,894</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 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 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 style="font-size:8.0pt;">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 style="font-size:8.0pt;">88,485</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:6.0pt;">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 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 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 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 style="font-size:8.0pt;">98</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 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 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 style="font-size:8.0pt;">752</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 style="font-size:8.0pt;">5,869</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:6.0pt;">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 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 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 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 style="font-size:8.0pt;">3,026</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 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 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 style="font-size:8.0pt;">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 style="font-size:8.0pt;">11,365</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 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 style="font-size:8.0pt;">1,262</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 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 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 style="font-size:8.0pt;">234</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 style="font-size:8.0pt;">4,688</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif 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:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">185,597</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">41,426</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">50,352</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">54,315</font></b></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=right style="border:none;margin:0cm;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;">56,062</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">42,334</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">4,585</font></b></font></p>
  </td>
 <td 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=#004481 face=Arial,sans-serif style="border:none;"><b><font color=#004481 face=Arial,sans-serif style="font-size:6.0pt;">434,670</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:6.0pt;">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 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 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 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 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 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 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 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 style="font-size:8.0pt;">7,300</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:6.0pt;">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 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 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 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 style="font-size:8.0pt;">5,165</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 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 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 style="font-size:8.0pt;">398</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 style="font-size:8.0pt;">32,405</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:6.0pt;">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 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 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 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 style="font-size:8.0pt;">789</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 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 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 style="font-size:8.0pt;">345</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 style="font-size:8.0pt;">26,297</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:6.0pt;">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 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 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 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 style="font-size:8.0pt;">1,732</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 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 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 style="font-size:8.0pt;">270</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 style="font-size:8.0pt;">18,551</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:6.0pt;">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 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 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 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 style="font-size:8.0pt;">29,396</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 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 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 style="font-size:8.0pt;">3,345</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 style="font-size:8.0pt;">172,175</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:6.0pt;">Households</font></font></p>
  </td>
 <td nowrap width=10% style="border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin: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;">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 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 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 style="font-size:8.0pt;">17,233</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 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 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 style="font-size:8.0pt;">227</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 style="font-size:8.0pt;">177,942</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=26% style="background:#5AC4C4;border:none;border-bottom:solid 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=EN-US style="font-size:6.0pt;">Total risk in
  financial assets</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">240,245</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">82,401</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">75,842</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">73,159</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">66,812</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">49,504</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">7,027</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">594,990</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:6.0pt;">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 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 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 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 style="font-size:8.0pt;">29,539</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 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 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 style="font-size:8.0pt;">1,126</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 style="font-size:8.0pt;">94,268</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:6.0pt;">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 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 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 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 style="font-size:8.0pt;">717</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 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 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 style="font-size:8.0pt;">519</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 style="font-size:8.0pt;">16,546</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td 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 style="font-size:6.0pt;">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 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 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 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 style="font-size:8.0pt;">1,879</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 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 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 style="font-size:8.0pt;">1,804</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 style="font-size:8.0pt;">45,738</font></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=26% style="background:#5AC4C4;border:none;border-bottom:solid 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;">Off-balance sheet
  exposures</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">61,014</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">27,484</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">3,356</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">32,134</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">12,527</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">16,588</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">3,450</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">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 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 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 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 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 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 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 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 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 style="font-size:8.0pt;">&nbsp;</font></b></font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td width=26% style="background:#5AC4C4;border:none;border-bottom:solid 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=EN-US style="font-size:6.0pt;">Total risks in
  financial instruments</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">301,259</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">109,885</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">79,198</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">105,293</font></b></font></p>
  </td>
 <td nowrap width=10% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">79,339</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">66,092</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">10,477</font></b></font></p>
  </td>
 <td nowrap width=9% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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:6.0pt;">751,542</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin:0cm;margin-bottom:6.0pt;margin-left:2.0cm;margin-right:33.75pt;margin-top:12.0pt;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:6.0pt;line-height:115%;">(*)&#160;&#160;&#160; Equity
instruments are shown net of valuation adjustment.</font></font></p>

<p style="border:none;margin:0cm;margin-bottom:6.0pt;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:8.0pt;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>

<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%;">The breakdown of
loans and advances in the heading of &#8220;Loans and receivables&#8221;, impaired by
geographical area as December 31, 2019, 2018 and 2017is as follows:</font></font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 title="F_I_XII_171_F_XBRL" 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=#02A5A5 face=Arial,sans-serif style="border:none;"><font color=#02A5A5 face=Arial,sans-serif lang=EN-US 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=46% 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=EN-US 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 style="font-size:8.0pt;">December 2019</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 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 style="font-size:8.0pt;">December 2017</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 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 style="font-size:8.0pt;">8,616</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 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 style="font-size:8.0pt;">13,318</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 style="font-size:8.0pt;">175</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 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 style="font-size:8.0pt;">549</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 style="font-size:8.0pt;">1,478</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 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 style="font-size:8.0pt;">1,124</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 style="font-size:8.0pt;">1,769</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 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 style="font-size:8.0pt;">1,468</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 style="font-size:8.0pt;">632</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 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 style="font-size:8.0pt;">631</font></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 face=Arial,sans-serif style="border:none;"><font color=black face=Arial,sans-serif 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 style="font-size:8.0pt;">3,289</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 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 style="font-size:8.0pt;">2,311</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 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 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 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 style="font-size:8.0pt;">-</font></font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td width=46% style="background:#5AC4C4;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;">IMPAIRED RISKS</font></b></font></p>
  </td>
 <td width=18% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">15,959</font></b></font></p>
  </td>
 <td width=18% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">16,359</font></b></font></p>
  </td>
 <td width=18% style="background:#5AC4C4;border:none;border-bottom:solid black 1.0pt;height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="border:none;margin:0cm;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;">19,401</font></b></font></p>
  </td>
 </tr>
</table></div>



<p style="border:none;margin-bottom:14.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:14.0pt;page-break-after:avoid;text-align:justify;text-indent:-36.0pt;"><a name="_Toc495478183"></a><a name="_Toc481589131"></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-212</font></font><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-size:11.0pt;">&nbsp;</font><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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:36.0pt;margin-right:0cm;margin-top:14.0pt;page-break-after:avoid;text-align:justify;text-indent:-36.0pt;"><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;page-break-after:avoid;"><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%;">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;page-break-after:avoid;"><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%;">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;page-break-after:avoid;"><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%;">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;page-break-after:avoid;"><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 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;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%;">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;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 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;page-break-after:avoid;"><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%;">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;page-break-after:avoid;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%;">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;page-break-after:avoid;"><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%;">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;page-break-after:avoid;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%;">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 lang=EN-US 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;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%;">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;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;">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;page-break-after:avoid;"><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%;">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;page-break-after:avoid;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%;">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;page-break-after:avoid;"><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%;">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;page-break-after:avoid;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%;">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;page-break-after:avoid;"><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%;">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;page-break-after:avoid;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%;">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;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%;">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;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;">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;page-break-after:avoid;"><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%;">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;page-break-after:avoid;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%;">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;page-break-after:avoid;"><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%;">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;page-break-after:avoid;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%;">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;page-break-after:avoid;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:106%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US 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 lang=EN-US 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;page-break-after:avoid;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:106%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US 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 lang=EN-US 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;page-break-after:avoid;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:106%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US 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 lang=EN-US 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>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-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;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 lang=EN-US 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 lang=EN-US 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.</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;line-height:115%;">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 lang=EN-US style="font-size:10.0pt;line-height:106%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">&#183;</font><font color=black face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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="margin:0cm;margin-bottom:.0001pt;"><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;">&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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">a)</font><font color=black face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">b)</font><font color=black face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">a)</font><font color=black face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">b)</font><font color=black face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">c)</font><font color=black face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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>



<p style="border:none;margin:0cm;margin-bottom:10.0pt;text-align:justify;"><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 style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-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;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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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: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 lang=EN-US style="font-size:10.0pt;line-height:115%;">Domestic activity</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 lang=EN-US style="font-size:10.0pt;line-height:115%;">Domestic balances are those of BBVA&#180;s Group entities domiciled
  in Spain, which reflect BBVA&#180;s domestic activities, being the allocation of
  assets and liabilities based on the domicile of the Group entity at which the
  relevant asset or liability is accounted for.</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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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="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:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;">3. Reasonable and
  supportable information that is available without undue cost or effort.</font></font></p>
  <p style="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:.0001pt;"><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:115%;">Foreign
  activity</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 lang=EN-US style="font-size:10.0pt;line-height:115%;">International
  balances are those of BBVA&#180;s Group entities domiciled outside of Spain, which
  reflect our foreign activities, being the allocation of assets and
  liabilities based on the domicile of the Group entity at which the relevant
  asset or liability is accounted for.</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 lang=EN-US 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 lang=EN-US 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 style="border:none;margin:0cm;margin-bottom:.0001pt;mso-border-shadow:yes;mso-line-height-rule:exactly;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;mso-pagination:widow-orphan no-line-numbers;text-align:justify;"><font style="border:none;mso-ansi-language:ES;mso-bidi-font-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 lang=EN-US style="font-size:10.0pt;line-height:115%;">Hedges of
  net investments in foreign operations</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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">a)</font></i><i><font face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">b)</font></i><i><font face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">c)</font></i><i><font face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">d)</font></i><i><font face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">e)</font></i><i><font face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">f)</font><font face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">a)</font><font color=black face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">b)</font><font color=black face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">c)</font><font color=black face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">d)</font><font color=black face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">e)</font><font color=black face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">a)</font><font color=black face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">b)</font><font color=black face="Times New Roman" lang=EN-US 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 lang=EN-US 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:38.9pt;">
  <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:38.9pt;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 lang=EN-US style="font-size:10.0pt;line-height:115%;">Lease liability</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:38.9pt;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 lang=EN-US style="font-size:10.0pt;line-height:115%;">Lease that represents the lessee&#8217;s obligation to make lease
  payments during the lease term.</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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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: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 lang=EN-US 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 lang=EN-US 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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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</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:0cm;margin-bottom:10.0pt;text-align:justify;"><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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">a)</font><font color=black face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">b)</font><font color=black face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">a)</font><font color=black face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">b)</font><font color=black face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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" lang=EN-US style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp;&nbsp; </font><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:106%;">i)</font><font color=black face="Times New Roman" lang=EN-US 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 lang=EN-US 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" lang=EN-US style="font-size:7.0pt;line-height:106%;">&nbsp;&nbsp; </font><font color=black face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:106%;">ii)</font><font color=black face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&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: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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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:27.7pt;">
  <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:27.7pt;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 lang=EN-US 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:27.7pt;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 lang=EN-US 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. In any case, these
  definitions are adapted to the local terminology, so that they are integrated
  into the management.</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 lang=EN-US 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 lang=EN-US 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 align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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</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:0cm;margin-bottom:10.0pt;text-align:justify;"><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 lang=EN-US 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 lang=EN-US 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. In any case, these definitions are adapted to the local
  terminology, so that they are integrated into the management.</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 lang=EN-US 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 lang=EN-US 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: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 lang=EN-US style="font-size:10.0pt;line-height:115%;">Right of use asset</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 lang=EN-US style="font-size:10.0pt;line-height:115%;">Asset that represents the lessee&#8217;s right to use an underlying
  asset during the lease term.</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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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;"><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:106%;">a)&#160; Quantitative criterion</font></i></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US 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;"><font face=Arial,sans-serif style="border:none;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:106%;">b)&#160; Qualitative
  criterion:</font></i></font><font face=Arial,sans-serif style="border:none;"><font face=Arial,sans-serif lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">a)</font><font face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">b)</font><font face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">c)</font><font face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">d)</font><font face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">e)</font><font face="Times New Roman" lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">provision of essential technical
  information.</font></font></p>
  </td>
 </tr>
</table></div>




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</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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;">without significant increase in credit risk</font></i><font face=Arial,sans-serif lang=EN-US 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 lang=EN-US style="font-size:10.0pt;">significant increase in
  credit risk</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> (Stage 2) and the third one, the impaired operations </font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Impaired&nbsp;</font></i><font face=Arial,sans-serif lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 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 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">a)</font><font face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">b)</font><font face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">c)</font><font face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">d)</font><font face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">a)</font><font face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">b)</font><font face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">c)</font><font face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:115%;">All tax related liabilities except for provisions for taxes.</font></font></p>
  </td>
 </tr>
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</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 lang=EN-US style="font-size:10.0pt;line-height:115%;">Territorial
  bonds</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 lang=EN-US 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>
<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 lang=EN-US style="font-size:10.0pt;line-height:115%;">Tier 1
  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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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: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 lang=EN-US style="font-size:10.0pt;line-height:115%;">Write-
  off</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 lang=EN-US style="font-size:10.0pt;line-height:115%;">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>
  </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 lang=EN-US 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 lang=EN-US 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="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:.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%;">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 lang=EN-US style="font-size:10.0pt;line-height:106%;">a)</font><font face="Times New Roman" lang=EN-US 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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;line-height:106%;">b)</font><font face="Times New Roman" lang=EN-US 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 lang=EN-US 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="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:.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%;">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 lang=EN-US 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 lang=EN-US 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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 <p align=center style="border:none;margin:0cm;margin-bottom:10.0pt;mso-border-shadow:yes;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;text-align:center;"><font face=Arial,sans-serif style="border:none;mso-ansi-language:ES;mso-bidi-font-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><font face=Arial,sans-serif style="mso-ascii-font-family:Times New Roman;mso-bidi-font-family:Times New Roman;mso-hansi-font-family:Times New Roman;">&nbsp;</font></p>

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<DOCUMENT>
<TYPE>EX-12.1
<SEQUENCE>2
<FILENAME>d20f2019exhibits12.htm
<DESCRIPTION>EXHIBIT 12.1
<TEXT>

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<title>EXHIBIT 12.1</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
12.1</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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;">Date: February 28, 2020</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=EN-US style="font-size:12.0pt;">&nbsp;</font></p>
  <p style="margin:0cm;margin-bottom:.0001pt;text-align:justify;"><font face=Arial,sans-serif lang=EN-US 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 lang=EN-US 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 lang=EN-US 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-13.1
<SEQUENCE>3
<FILENAME>d20f2019exhibits13.htm
<DESCRIPTION>EXHIBIT 13.1
<TEXT>

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</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, 2019 (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: February 28,
2020</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 lang=EN-US 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 lang=EN-US 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=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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 lang=EN-US 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/ 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 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 lang=EN-US 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>

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<DOCUMENT>
<TYPE>EX-2.1
<SEQUENCE>4
<FILENAME>d20f2019exhibits21.htm
<DESCRIPTION>EXHIBIT 2.1
<TEXT>

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<title>EXHIBIT 2.1</title>


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</DIV>
<p align=right style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Exhibit 2.1</font></b></p>

<p align=center style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:center;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">DESCRIPTION OF REGISTERED SECURITIES OF BBVA</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">This
exhibit describes</font><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">each
class of securities of BBVA that was registered under Section 12 of the
Exchange Act as of December 31, 2019. For purposes of this exhibit, except as
otherwise expressly provided or unless the context requires otherwise, all
terms used but not defined in this exhibit which are defined in BBVA&#8217;s annual
report on Form 20-F for the year ended December 31, 2019 (the &#8220;</font><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Annual Report</font></b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;),
shall have the meanings assigned to them in the Annual Report.</font></p>

<p align=center style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:center;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">DESCRIPTION OF BBVA ORDINARY SHARES</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
following summary describes the material considerations concerning the capital
stock of BBVA and briefly describes the material provisions of BBVA&#8217;s bylaws (</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">estatutos</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">)
and relevant Spanish law. This summary does not include all the provisions of
such bylaws and is qualified in its entirety by reference to the detailed
provisions thereof. A copy of BBVA&#8217;s bylaws is incorporated by reference as
Exhibit 1.1 to the Annual Report. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">General </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif style="border:none windowtext 1.0pt;padding:0cm;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">All rights and obligations of BBVA&#8217;s
shareholders are contained in BBVA&#8217;s bylaws and in Spanish law. In addition,
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. Other requirements to amend
our bylaws are discussed under &#8220;&#8212;</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Attendance and Voting at Shareholders&#8217;
Meeting</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">As
of December 31, 2019, BBVA&#8217;s paid in share capital was &#8364;3,267,264,424.20,
represented by a single class of 6,667,886,580 ordinary shares, each with par
value of &#8364;0.49 per share and all having the same rights.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font color=#222222 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Our shareholders have delegated to the Board of Directors the
authority to issue up to 3,283,307,621 new ordinary shares (equal to half of
BBVA&#8217;s share capital on March 17, 2017, the date of the authorization). The
Board of Directors is authorized to exclude preemptive rights, in whole or in
part, pursuant to the applicable provisions of the Spanish Companies Act. The
power to exclude preemptive rights is limited, such that the nominal amount of
the capital increases resolved or effectively carried out with the exclusion of
preemptive rights in use of this authority and those that may be resolved or
carried out to cover the conversion of mandatory convertible securities that
may equally be made with the exclusion of preemptive rights in use of the
authority described below may not exceed the nominal maximum overall amount of
20% of the Bank&#8217;s share capital at the date of the authorization (equal to
1,313,323,048 new ordinary shares), The Board&#8217;s authorization to issue new
ordinary shares expires on March 17, 2022.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font color=#222222 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">In addition, our shareholders have delegated to the Board of
Directors the authority to issue securities convertible into newly issued
ordinary shares up to the maximum overall amount of eight billion euros
(&#8364;8,000,000,000) or its equivalent in any other currency. The Board of
Directors is authorized to exclude preemptive rights, in whole or in part,
pursuant to the applicable provisions of the Spanish Companies Act (subject to
the restrictions described above in the case of mandatory convertible
securities). The Board of Directors&#8217; authorization to issue securities
convertible into newly issued ordinary shares expires on March 17, 2022.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Non-residents
of Spain may hold and vote ordinary shares subject to the general restrictions
set forth below. See &#8220;&#8212;</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Exchange Controls and Restrictions on Foreign
Investments</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221; and &#8220;&#8212;</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Restrictions on Acquisitions of Ordinary Shares</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></p>


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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 style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Registry and Company&#8217;s Objects and Purpose</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-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 2083, Company Section
Folio 1, Sheet BI-17-A, 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></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Attendance
and Voting at Shareholders&#8217; Meetings</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Each
ordinary share entitles the shareholder to one vote. Ordinary shares that are
not paid up in full are not entitled to vote, or to receive distributions of
dividends or preemptive subscription rights. As of December 31, 2019, all
ordinary shares were fully paid up. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Any
ordinary share may be voted by proxy. Any shareholder who is entitled to attend
a general shareholders&#8217; meeting may be represented at such general
shareholders&#8217; meeting by another person, who need not necessarily be a
shareholder. Proxies are valid for ordinary (also referred to as &#8220;annual&#8221;)
general shareholders&#8217; meetings and extraordinary general shareholders&#8217; meetings
and, except with respect to general powers of attorney, must be granted
specifically with respect to each general shareholders&#8217; meeting. A single
shareholder may not be represented at a general shareholders&#8217; meeting by more
than one person, except under the circumstances provided in the law for
brokering institutions. Our bylaws do not contain provisions related to cumulative
voting.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:17.85pt;"><b><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Shareholders&#8217;
Meetings </font></i></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Pursuant
to BBVA&#8217;s bylaws and to the Spanish Companies Act, general meetings of
shareholders of BBVA may be ordinary or extraordinary.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Pursuant
to the Spanish Companies Act, ordinary general shareholders&#8217; meetings shall necessarily
be held within the first six months of each fiscal year, at which shareholders
are requested to approve the annual accounts of the previous fiscal year, the
corporate management for the previous fiscal year and the application of BBVA&#8217;s
net income or loss. Other matters may also be voted on by shareholders during
the ordinary general shareholders&#8217; meetings if such items are included on the
agenda or are allowed by law. Any other meetings of shareholders are considered
to be extraordinary general shareholders&#8217; meetings. Extraordinary general
shareholders&#8217; meetings may be called from time to time by the BBVA Board of
Directors at its discretion. The BBVA Board of Directors will call
extraordinary general shareholders&#8217; meetings when (i) it believes such meetings
to be necessary or advisable for BBVA&#8217;s interests, (ii) required by law or
BBVA&#8217;s bylaws, or (iii) requested by shareholders representing at least 3% of
BBVA&#8217;s share capital.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Shareholders
representing at least 3% of the share capital of BBVA have the right to request
the publication of a supplemental notice including one or more additional
agenda items to the ordinary general shareholders&#8217; meeting and to add new
resolution proposals to the agenda of any general shareholders&#8217; meeting, within
the first five days following the publication of the agenda.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">A
universal shareholders&#8217; meeting, at which 100% of the share capital is present
or duly represented, is considered valid even if no notice of such meeting was
given, and, with unanimous agreement, shareholders may consider any matter at
such a meeting.</font></p>


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<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:17.85pt;"><b><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Convening Notice </font></i></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">According
to BBVA&#8217;s bylaws and the Spanish Companies Act, notices of all BBVA general
shareholders&#8217; meetings must be published (i) in the Official Gazette of the
Commercial Registry (</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Bolet&#237;n Oficial del Registro Mercantil</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">) or in a
widely circulated newspaper in Spain, (ii) on BBVA&#8217;s webpage and (iii) on the
webpage of the CNMV, at least one month prior to the date of the meeting or
with the minimum prior notice period required by the Spanish Companies Act from
time to time. The notice must indicate the date, time and place of the meeting
on the first convening and all the matters to be considered at the meeting,
along with other information required by the Spanish Companies Act. The notice
may also include the date on which the meeting should be held on the second
convening. At least twenty-four hours must elapse between the meeting on the
first convening and the meeting on the second convening.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:17.85pt;"><b><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Place of
Meeting </font></i></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Except
with respect to universal shareholders&#8217; meetings, general shareholders&#8217;
meetings must be held in Bilbao, Spain, where BBVA has its registered office,
on the date indicated in the convening notice. A universal shareholders&#8217;
meeting, at which 100% of the share capital is present or duly represented, may
take place anywhere in the world.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:17.85pt;"><b><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Right of
Attendance </font></i></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
owners of 500 or more ordinary shares which are duly registered in the
book-entry record for ordinary shares at least five days prior to the date of
the general shareholders&#8217; meeting and who continue to hold such shares until
the date of the meeting are entitled to attend. The holders of fewer than 500
ordinary shares may aggregate their shares by proxy to represent at least 500
ordinary shares and appoint a representative for the meeting.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:17.85pt;"><b><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Quorums </font></i></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Under
BBVA&#8217;s bylaws and the Spanish Companies Act, except as set forth below, general
shareholders&#8217; meetings will be duly constituted on the first convening if BBVA
shareholders holding at least 25% of the voting share capital are present or
represented by proxy. On the second convening of a general shareholders&#8217;
meeting, there is no quorum requirement.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Notwithstanding
the above, according to the Spanish Companies Act certain special events
require a quorum of shareholders, present or represented by proxy, holding at
least 50% of the voting share capital on first convening of the general
shareholders&#8217; meeting and no less than 25% of the voting share capital on the
second convening of the general shareholders&#8217; meeting. Those special events
include the adoption of resolutions concerning the following: (i) increases or
decreases in capital; (ii) in general, any modification of the bylaws; (iii)
issuances of bonds (not applicable to BBVA except with respect to convertible
bonds); (iv) limitation or suppression of the preemptive rights to subscribe
for new shares; (v) transformations, mergers, spin-offs and assignments of
assets and liabilities; and (vi) the transfer of the registered office abroad.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Additionally,
BBVA&#8217;s bylaws also require the presence, in person or represented by proxy, of
two-thirds of the voting share capital on first convening or 60% of the voting
share capital on the second convening, at general shareholders&#8217; meetings in
order to adopt resolutions that concern: (i) the change of the corporate
purpose; (ii) the transformation of BBVA&#8217;s legal status; (iii) a full spin-off;
(iv) the dissolution of BBVA; or (v) the amendment of the second paragraph of
Article 25 of BBVA&#8217;s bylaws, which establishes this stricter quorum
requirement. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Under
Spanish law, the rights of shareholders may only be changed by an amendment to
the bylaws that complies with the requirements described herein and under &#8220;</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8212;Attendance
and Voting at Shareholders&#8217; Meetings</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></p>


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</DIV>
<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:17.85pt;"><b><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Adoption of Resolutions and Majorities </font></i></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Subject
to the higher vote requirements described in the following paragraphs, the
adoption of resolutions requires a simple majority vote at the general
shareholders&#8217; meeting, meaning that a resolution is adopted when the favorable
votes exceed the votes against the adoption of the resolution.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
adoption of resolutions concerning the following: (i) increases or decreases in
capital; (ii) in general, any modification of the bylaws; (iii) issuances of
bonds (not applicable to BBVA except with respect to convertible bonds); (iv)
limitations or elimination of the preemptive rights to subscribe for new
shares; (v) transformations, mergers, spin-offs and assignments of assets and
liabilities; and (vi) the transfer of the registered office abroad, shall
require the favorable vote of (a) a majority of the share capital present or
represented at the meeting if such share capital present or represented exceeds
50% of the total share capital, or (b) if the share capital present or
represented by proxy on the second convening constitutes less than 50% but more
than 25% of the total share capital, the approval of two-thirds of the share
capital present or represented by proxy at such meeting. In addition, the
adoption of resolutions that require special quorums according to our bylaws
require a favorable vote of a majority of the share capital present or
represented. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Validly
adopted resolutions are binding on all the shareholders, including those who
were absent, dissented or abstained from voting.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Any
resolution adopted at the general shareholders&#8217; meeting that is contrary to
Spanish law, to the bylaws or to the general shareholders&#8217; meeting regulations,
or that are deemed detrimental to BBVA&#8217;s interests to the benefit of one or
more shareholders or third parties can be contested. Any director, any third
party who proves a legitimate interest, and any shareholder who acquired such
status before the resolution was adopted, as long as they represent at least
0.1% of the share capital of BBVA, may contest corporate resolutions. If the
resolution is contrary to public order, it can be contested by any director,
third party or any shareholder, even if he or she acquired such status after
the resolution was adopted.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:17.85pt;"><b><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Appointment
of Directors </font></i></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Pursuant
to our bylaws, our board of directors includes a minimum of five and a maximum
of 15 directors who are elected by the general shareholders&#8217; meeting (other
than as described in the following paragraph regarding co-opted directors).
Directors are appointed for a term of three years, and may be re-elected one or
more times for successive terms not exceeding three years. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Under
the Spanish Companies Act, in the event of a vacancy on the BBVA Board of
Directors, a shareholder or group of shareholders that owns an aggregate number
of ordinary shares equal to or greater than the result of dividing the total
capital stock by the number of directors on the BBVA Board of Directors, has
the right to appoint a corresponding proportion of the directors (rounded down
to the nearest whole number) to the Board of Directors. Shareholders who
exercise the right to appoint directors in accordance with the above may not
vote on the appointment of other directors to the BBVA Board of Directors.
Under the Spanish Companies Act, the BBVA Board of Directors may also designate
directors by interim appointment to fill vacancies (co-option). If a director
has been co-opted, such director will have a term of office ending on the first
general shareholders&#8217; meeting held following such co-option. The general
shareholders&#8217; meeting may then ratify such director&#8217;s appointment for the term
of office remaining of the director whose vacancy has been covered through
co-option, or appoint such director for the term of office established under
our bylaws (currently, three years).</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Under
Spanish law, any new directors shall comply with the suitability criteria set
forth in, among other applicable legislation, Law 10/2014, Royal Decree
84/2015, of February 13 and Bank of Spain Circular 2/2016, of February 2.</font></p>


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</DIV>
<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Preemptive Rights </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Pursuant
to the Spanish Companies Act, shareholders have preemptive rights to subscribe
for (i) new ordinary shares issued in the context of a capital increase
involving cash contributions (except where the capital increase is due to the
conversion of convertible securities into BBVA ordinary shares, the absorption
of another company, or the absorption of all or part of the assets of another
company by means of a spin-off of such company) and (ii) securities which are
convertible into BBVA ordinary shares. These preemptive rights may be
completely or partially excluded in certain circumstances in accordance with
the Spanish Companies Act, following a resolution passed at the general
shareholders&#8217; meeting (which may, for example, authorize the Board of Directors
to exclude preemptive rights). BBVA reserves the right to propose to the
general shareholders&#8217; meeting that such preemptive rights be completely or
partially excluded in any future issuance of new ordinary shares or securities
which are convertible into BBVA ordinary shares.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Dividends
and Distributions </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Shareholders
have the right to participate in the distribution of corporate earnings.
Pursuant to our bylaws, dividends may be paid in cash or in kind.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Once
the requirements under Spanish law and our bylaws are satisfied, dividends may
be distributed and charged to the year&#8217;s profit or unrestricted reserves,
provided that the value of BBVA&#8217;s total net assets is not, or as a result of
such dividend would not be, less than BBVA&#8217;s share capital. See &#8220;</font><i><font face=Arial,sans-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=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221; of our Annual Report. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8220;Final&#8221;
dividends for a year are proposed by the Board of Directors to be approved by
the annual general shareholders&#8217; meeting following the end of the year to which
they relate. Additionally, the Board of Directors may approve the payment of
&#8220;interim&#8221; dividends on account of the year&#8217;s end profits following the
fulfilment of certain requirements under Spanish law, which payment is endorsed
by the annual general shareholders&#8217; meeting. Interim and final dividends are
payable to shareholders of record on the record date for the dividend payment.
Any unclaimed cash dividends revert to BBVA five years after declaration.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">In
addition, upon a liquidation, shareholders have the right to participate in the
distribution of any net assets.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Form and
Transfer </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Ordinary
shares are registered in book-entry form and are indivisible. Joint holders
must nominate one person to exercise their rights as shareholders, though joint
holders are jointly and severally (</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">solidariamente</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">) liable for all
obligations arising from their status as shareholders.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Sociedad de Gesti&#243;n de los Sistemas de Registro,
Compensaci&#243;n y Liquidaci&#243;n de Valores, S.A. Unipersonal</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> (&#8220;</font><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Iberclear</font></b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;),
which manages the clearance and settlement system of the Spanish Stock
Exchanges, maintains the central registry of ordinary shares which reflects (i)
one or several proprietary accounts which show the balances of the
participating entities&#8217; (</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">entidades participantes</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">) proprietary accounts;
(ii) one or several general third-party accounts that show the overall balances
that the participating entities hold for third parties; (iii) individual
accounts opened in the name of the owner, either an individual or legal person;
and (iv) individual special accounts of financial intermediaries which use the
optional procedure of settlement of orders. Each participating entity, in turn,
maintains the detail records of the owners of the shares held in their general
third-party accounts.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Transfers
of ordinary shares quoted on the Spanish Stock Exchanges must be made by
book-entry registry or delivery of evidence of title to the buyer, through or
with the participation of a member of the Spanish Stock Exchanges that is an
authorized broker or dealer. Transfers of ordinary shares may also be subject
to certain fees and expenses.</font></p>


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</DIV>
<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Reporting Requirements</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">As
our ordinary shares are listed on the Spanish Stock Exchanges, the acquisition
or disposition of ordinary shares by shareholders must be reported within four
business days of the acquisition or disposition to BBVA and the CNMV where:</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">in
the case of an acquisition, the acquisition results in that person or group
holding 3% (or 5%, 10%, 15%, 20%, 25%, 30%, 35%, 40%, 45%, 50%, 60%, 70%, 75%,
80% or 90%) of BBVA&#8217;s total voting rights; or</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">in
the case of a disposal, the disposition reduces shares held by a person or
group below a threshold of 3% (or 5%, 10%, 15%, 20%, 25%, 30%, 35%, 40%, 45%,
50%, 60%, 70%, 75%, 80% or 90%) of BBVA&#8217;s total voting rights.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
reporting requirements apply not only to the purchase or transfer of shares,
but also to those transactions in which, without a purchase or transfer, the
proportion of voting rights of an individual or legal entity reaches, exceeds or
falls below the threshold that triggers the obligation to report as a
consequence of a change in the total number of voting rights of BBVA on the
basis of the information reported to the CNMV and disclosed by it.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Regardless
of the actual ownership of the shares, any individual or legal entity with a
right to acquire, transfer or exercise voting rights granted by the shares, and
any individual or legal entity who owns, acquires or transfers, whether
directly or indirectly, other securities or financial instruments which grant a
right to acquire shares with voting rights, will also have an obligation to
notify the company and the CNMV of the holding of a significant stake in
accordance with applicable Spanish regulations. In addition, cash settled
instruments creating long positions on underlying listed shares (such as
BBVA&#8217;s) shall be disclosed if the specified shareholding thresholds are reached
or exceeded. Cash holdings and holdings derived from financial instruments
shall be aggregated for disclosure purposes. A disclosure exemption for
shareholding positions held by financial entities in their trading books as a
result of the securities administration and custody services rendered by such
financial entities is available pursuant to Article 33.2 of the Spanish Royal
Decree 1362/2007. In the event that the individual or legal entity entering
into the relevant transaction is a non-Spanish resident, notice must also be
given to the Spanish Registry of Foreign Investments (</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Registro de
Inversiones Exteriores</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">) of the Ministry of Economic Affairs and Digital
Transformation (</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Ministerio de Asuntos Econ&#243;micos y Transformaci&#243;n Digital</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">).
See &#8220;</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8212;Exchange Controls and Restrictions on Foreign Investment</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221; below.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">In
the case of individuals or legal entities resident in jurisdictions designated
as tax havens or in countries or territories levying no taxes or with which
Spain has no effective exchange of tax information, the threshold that triggers
the obligation to disclose the acquisition or disposition of shares is reduced
to 1% (and successive multiples of 1%).</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Additionally,
since BBVA is a credit entity, any person who intends to acquire a significant
participation in BBVA&#8217;s share capital must comply with certain obligations
imposed by the Bank of Spain. See &#8220;</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8212;Restrictions on Acquisitions of Ordinary
Shares</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:17.85pt;"><b><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Requirements
Applicable to Purchases by BBVA and its Directors and Senior Managers </font></i></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:17.85pt;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Acquisition
of Own Shares </font></i></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">BBVA
is required to report to the CNMV any acquisition by BBVA or any of its
affiliates, of BBVA&#8217;s own shares which, together with all other acquisitions
since the last notification, reaches or exceeds 1% of BBVA&#8217;s share capital
(irrespective of whether any own shares have been sold in the same period). In
such circumstances, the notification must be made within four stock exchange
business days and include the number of shares acquired since the last
notification (detailed by transaction), the number of shares sold (detailed by
transaction) and the resulting net holding of treasury shares.</font></p>


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</DIV>
<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:17.85pt;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Acquisition of Shares by BBVA Directors and Senior Managers
</font></i></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Each
member of the BBVA Board of Directors must report to BBVA and the CNMV, the
percentage of voting rights held at the time such director joined the Board of
Directors and at the time they ceased to be members. Furthermore, each member
of the BBVA Board of Directors must similarly report any acquisition or
disposition, regardless of size, of BBVA shares, debt instruments issued by
BBVA, derivatives and other financial instruments linked thereto within three
business days of such acquisition or disposition. Senior managers of BBVA, as
well as persons closely associated to them or to BBVA directors, are also
subject to the abovementioned reporting rules.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Net Short
Positions </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">In
accordance with Regulation (EU) No. 236/2012 of the European Parliament and of
the Council of March 14, 2012 on short selling and certain aspects of credit
default swaps (as further supplemented by several delegated regulations
regulating technical aspects necessary for its effective enforceability and to
ensure compliance with its provisions), net short positions on shares listed on
the Spanish Stock Exchanges (including BBVA shares) equal to, or in excess of,
0.2% of the relevant entity&#8217;s share capital and any increases or reductions
thereof by 0.1% are required to be disclosed to the CNMV. If the net short
position reaches 0.5%, and also at every 0.1% above that, the CNMV will
disclose the net short position to the public.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
notification or disclosure mentioned above shall be made not later than at
15:30 (CET) on the trading day following the day when the relevant threshold
was reached, exceeded or fallen below.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Notification
is mandatory even if the same position has already been notified to the CNMV in
compliance with transparency obligations previously in force.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
information to be disclosed is set out in Table 1 of Annex I of Delegated
Regulation 826/2012, according to the format approved as Annex II of such
Regulation. The information will be published, where appropriate, on a web page
operated or supervised by the CNMV.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Moreover,
pursuant to Regulation 236/2012, where the CNMV considers that (i) there are
adverse events or developments that constitute a serious threat to financial
stability or to market confidence (for example, serious financial, monetary or
budgetary problems, which may lead to financial instability or unusual
volatility causing significant downward spirals in any financial instrument);
and (ii) the measure is necessary and will not be disproportionately
detrimental to the efficiency of financial markets in view of the advantages
sought, it may, following consultation with the European Securities and Markets
Authority (&#8220;</font><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">ESMA</font></b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;), take any one or more of the following measures:</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">impose
additional notification obligations by either (a) reducing the thresholds for
the notification of net short positions in relation to one or several specific
financial instruments; and/or (b) requesting the parties involved in the
lending of a specific financial instrument to notify any change in the fees
requested for such lending; and</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">restrict
short selling activity by either prohibiting or imposing conditions on short
selling.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">In
addition, according to Regulation 236/2012, where the price of a financial
instrument has fallen significantly during a single day in relation to the
closing price on the previous trading day (10.0% or more in the case of a
liquid share such as a BBVA share), the CNMV may prohibit or restrict short
selling of financial instruments for a period not exceeding the end of the
trading day following the trading day on which the fall in price occurs.</font></p>


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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 style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Finally, Regulation 236/2012 also vests
powers to ESMA in order to take measures similar to the ones described above in
exceptional circumstances, when the purpose of these measures is to deal with a
threat affecting several European Union member states and the competent
authorities of these member states have not taken adequate measures to address
it.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Change of
Control Provisions and Tender Offers </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Certain
antitrust regulations may delay, defer or prevent a change of control of BBVA
in the event of a merger, acquisition or corporate restructuring. In Spain, the
application of both Spanish and European antitrust regulations requires that
prior notice of domestic or cross-border merger transactions be given in order
to obtain a &#8220;non-opposition&#8221; ruling from antitrust authorities.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Spanish
regulation of takeover bids may also delay, defer or prevent a change of
control of BBVA or any of its subsidiaries in the event of a merger, acquisition
or corporate restructuring. Law 6/2007 and Royal Decree 1066/2007 set forth the
Spanish rules governing takeover bids. In particular:</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">a
bidder must make a tender offer in respect of 100% of the issued share capital
of a target company if:</font></p>

<p style="margin-bottom:12.0pt;margin-left:108.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;"> &#9744; </font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">it acquires an
interest in shares which (taken together with shares in which persons acting in
concert with it are interested) carry 30% or more of the voting rights of the
target company;</font></p>

<p style="margin-bottom:12.0pt;margin-left:108.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;"> &#9744; </font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">it acquires
an interest in shares which (taken together with shares in which persons acting
in concert with it are interested) carry less than 30% of the voting rights but
enable the bidder to appoint a majority of the members of the target company&#8217;s
board of directors; or</font></p>

<p style="margin-bottom:12.0pt;margin-left:108.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;"> &#9744; </font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">it held 30%
or more but less than 50% of the voting rights of the target company on the
date the law came into force, and subsequently:</font></p>

<p style="margin-bottom:12.0pt;margin-left:126.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=gray face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=gray face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">acquires,
within 12 months, an additional interest in shares which carries 5% or more of
such voting rights;</font></p>

<p style="margin-bottom:12.0pt;margin-left:126.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=gray face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=gray face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">acquires
an additional interest in shares so that the bidder&#8217;s aggregate interest
carries 50% or more of such voting rights; or</font></p>

<p style="margin-bottom:12.0pt;margin-left:126.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font color=gray face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font color=gray face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">acquires
an additional interest in shares which enables the bidder to appoint a majority
of the members of the target company&#8217;s board of directors;</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">if
a bidder&#8217;s actions do not fall into the categories described above, such
acquisition may qualify as an &#8220;a priori&#8221; or partial tender offer (</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">i.e.</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">,
in respect of less than 100% of the issued share capital of a target company),
in which case such bidder would not be required to make a tender offer in
respect of 100% of the issued share capital of a target company;</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">the
board of directors of a target company is exempt from the rule prohibiting
certain board interference with a tender offer (the &#8220;passivity rule&#8221;), provided
that (i) it has been authorized by the general shareholders&#8217; meeting to take
action or enter into a transaction which could disrupt the offer, or (ii) it
has been released from the passivity rule by the general shareholders&#8217; meeting
vis-&#224;-vis bidders whose boards of directors are not subject to an equivalent
passivity rule;</font></p>


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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 style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">defensive
measures included in a listed company&#8217;s bylaws and transfer and voting
restrictions included in agreements among a listed company&#8217;s shareholders will
remain in place whenever the company is the target of a tender offer unless the
general shareholders&#8217; meeting resolves otherwise (in which case any
shareholders whose rights are diluted or otherwise adversely affected may be
entitled to compensation); and</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">if,
as a result of a tender offer in respect of 100% of the issued share capital of
a target company, the bidder acquires an interest in shares representing at
least 90% of the voting rights of the target company and the offer has been
accepted by investors representing at least 90% of the voting rights of the target
company (provided such voting rights are distinct from those already held by
the bidder), the bidder may force the holders of the remaining share capital of
the company to sell their shares. The minority holders shall also have the
right to force the bidder to acquire their shares under these same
circumstances.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">As
further described below in &#8220;</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8212;Restrictions on Acquisitions of Ordinary Shares</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;,
since BBVA is a bank, it is necessary to obtain approval from the Bank of Spain
in order to acquire a number of shares considered to be a significant
participation under Law 10/2014. Also, any agreement that contemplates BBVA&#8217;s
merger with another credit entity requires the authorization of the Ministry of
Economic Affairs and Digital Transformation (</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Ministerio de Asuntos
Econ&#243;micos y Transformaci&#243;n Digital</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">). This could delay, defer or prevent a
change of control of BBVA or any of its subsidiaries that are credit entities
in the event of a merger.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Exchange
Controls and Restrictions on Foreign Investments </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">In
1991, Spain adopted the European Union standards for free movement of capital
and services. As a result, exchange controls and restrictions on foreign
investments have generally been abolished and foreign investors may transfer
invested capital, capital gains and dividends out of Spain without limitation
as to amount, subject to applicable taxes. See &#8220;</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Item 10. Additional
Information&#8212;Taxation</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221; of the Annual Report. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Pursuant
to Spanish Law 18/1992 on Foreign Investments and Royal Decree 664/1999,
foreign investors may freely invest in shares of Spanish companies, except in
the case of certain strategic industries.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">However,
Royal Decree 664/1999 and Law 19/2003, on exchange controls and foreign
transactions, as amended, require that all foreign investments in Spain (and
the liquidations of such investments) be notified to the Spanish Registry of
Foreign Investments (</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Registro de Inversiones Exteriores</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">) of the Ministry
of Economic Affairs and Digital Transformation (</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Ministerio de Asuntos
Econ&#243;micos y Transformaci&#243;n Digital</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">) for administrative statistical and
economical purposes. In particular, shares in 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 participating entity.
Moreover, when a foreign investor acquires shares in a company that is subject
to the reporting requirements of the CNMV, such foreign investor must also give
notice directly to the CNMV and, if applicable, to the relevant Spanish Stock Exchanges
if such acquisition results in such foreign investor exceeding certain
ownership thresholds. See &#8220;</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8212;Reporting Requirements</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;.&nbsp;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">In
certain circumstances, 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 activities relating to the
exercise of public powers, national security or public health. Law 19/2003
authorizes the Spanish government to impose specific limits or prohibitions,
related to specific third countries, when such measures have been previously
approved by the European Union or by an international organization to which
Spain is member. Should the general regime be suspended, the affected investor
shall obtain prior administrative authorization.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Investment
by foreigners domiciled in enumerated tax haven jurisdictions (as defined by
applicable Spanish regulations) is subject to special reporting requirements.</font></p>


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<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Restrictions on Acquisitions of Ordinary Shares </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">BBVA&#8217;s
bylaws do not provide any restrictions on the ownership of ordinary shares.
Because BBVA is a Spanish bank, however, the acquisition or disposition of a
significant participation of BBVA shares is subject to certain restrictions.
Such restrictions may impede a potential acquirer&#8217;s ability to acquire BBVA
shares and gain control of BBVA.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Pursuant
to 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 Law 10/2014) or to
directly or indirectly increase its holding in such way that either the
percentage of voting rights or of capital owned were equal to or more than any
of the thresholds of 20%, 30% or 50%, or by virtue of the acquisition, might
take control over the financial institution, must first notify the Bank of
Spain. For the purpose of Law 10/2014, a significant participation is
considered to be 10% of the outstanding share capital or voting rights of a
financial institution or a lower percentage if such holding allows for the
exercise of a significant influence. Secondary legislation will specify when
&#8220;significant influence&#8221; exists; in any case, according to Royal Decree 84/2015,
of February 13, the capacity to appoint or dismiss a Board member will be
considered &#8220;significant influence&#8221;.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-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 Law 10/2014 (as stated in Article 18.1
of Law 10/2014) with a view to guaranteeing the sound and prudent operation of
the target financial institution. The Bank of Spain will then submit a proposal
to the European Central Bank, which will be in charge of deciding upon the
proposed transaction in the term of 60 business days after the date on which
the notification was received.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Any
acquisition made without such prior notification, or conducted before 60
business days have elapsed since the date of such notification, or made in
circumstances where the European Central Bank has objected, will produce the
following results:</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">the
acquired shares will have no voting rights;</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">if
considered appropriate, the target bank may be taken over by the relevant
regulator or its directors replaced in accordance with Title III of Law
10/2014; and</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">a
sanction may be imposed under Title IV of Law 10/2014.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Any
individual or institution that intends to sell its significant participation in
a bank or reduce its participation below the above-mentioned percentages, or
which, because of such sale, will lose control of the entity, must give prior
notice to the Bank of Spain, indicating the amount it intends to sell and the
period in which the transaction is to be executed. Non-compliance with this
requirement may result in sanctions.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Furthermore,
pursuant to Law 10/2014, any natural or legal person, or such persons acting in
concert, who has acquired, directly or indirectly, a holding in a Spanish bank
so that the proportion of the voting rights or of the capital held reaches or
exceeds 5%, must immediately notify in writing the Bank of Spain and the
relevant Spanish bank, indicating the size of the acquired holding.</font></p>


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<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Shareholders&#8217; Agreements </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Royal
Legislative Decree 4/2015 of October 23, as amended (the &#8220;</font><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Spanish Securities
Market Act</font></b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;) and the Spanish Companies Act require parties to disclose
certain types of shareholders&#8217; agreements that affect the exercise of voting
rights at a general shareholders&#8217; meeting or contain restrictions or conditions
on the transferability of shares or bonds that are convertible or exchangeable
into shares. If any shareholders enter into such agreements with respect to
BBVA&#8217;s shares, they must disclose the execution, amendment or extension of such
agreements to BBVA and the CNMV and file such agreements with the appropriate
Commercial Registry. Failure to comply with these disclosure obligations
renders any such shareholders&#8217; agreement unenforceable and constitutes a
material infringement of the Spanish Securities Market Act. In particular, a
shareholders&#8217; agreement will have no effect with respect to the regulation of
the right to vote in general shareholders&#8217; meetings and restrictions or
conditions on the free transferability of shares and bonds convertible into
shares until such time as the aforementioned disclosure and filing are made.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Upon
request by the interested parties, the CNMV may waive the requirement to
disclose and file a shareholder&#8217;s agreement when making the shareholders&#8217;
agreement public could cause harm to the affected company.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Payment of
Taxes </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Holders
of ordinary shares are responsible for any taxes or other governmental charges
payable on their ordinary shares, including any taxes payable on transfer. The
paying agent or the transfer agent, as the case may be, may, and upon instruction
from BBVA, will:</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">refuse
to effect any registration of transfer of such ordinary shares or any split-up
or combination thereof until such payment is made; or</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">withhold
or deduct from any distributions on such ordinary shares or sell for the
account of the holder thereof any part or all of such ordinary shares (after
attempting by reasonable means to notify such holder prior to such sale), and
apply, after deduction for its reasonable expenses incurred in connection
therewith, the net proceeds of any such sale in payment of such tax or other
governmental charge, the holder of such ordinary shares remaining liable for
any deficiency.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Exercise of
Spanish Bail-in Power and Other Resolution Tools</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Our
ordinary shares (including those represented by ADSs) may be subject to the
exercise of the Spanish Bail-in Power (including a Non-Viability Loss
Absorption) by the Spanish Resolution Authority, which may include and result
in any of the following, or some combination thereof: (1) the cancellation of
such securities; (2) the transfer of such securities to creditors of BBVA; (3)
the conversion of other securities or obligations of BBVA into ordinary shares
of BBVA thereby diluting the shareholding of the holders of ordinary shares;
and (4) the variation of the terms of such securities or the rights of the
holders thereunder, including to give effect to the exercise of the Spanish
Bail-in Power (including a Non-Viability Loss Absorption) by the Spanish
Resolution Authority. See &#8220;</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Item 3. Key Information&#8212;Risk Factors&#8212;Legal,
Regulatory, Tax and Reporting Risks&#8212;Regulatory 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 face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221; in our Annual Report.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Non-Voting,
Redeemable and Privileged Shares</font></b></p>

<p style="margin:0cm;margin-bottom:12.0pt;text-indent:36.0pt;"><font face=Arial,sans-serif style="border:none windowtext 1.0pt;padding:0cm;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Our bylaws authorize us to issue 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. The provisions of
our bylaws relating to such shares are described below.</font></font></p>


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</DIV>
<p style="margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-indent:17.85pt;"><font face=Arial,sans-serif style="border:none windowtext 1.0pt;padding:0cm;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Privileged
Shares</font></i></font></p>

<p style="margin:0cm;margin-bottom:12.0pt;text-indent:36.0pt;"><font face=Arial,sans-serif style="border:none windowtext 1.0pt;padding:0cm;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">BBVA may issue shares that confer some privilege over ordinary
shares under legally established terms and conditions, complying with the
formalities prescribed for amending our bylaws.</font></font></p>

<p style="margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-indent:17.85pt;"><font face=Arial,sans-serif style="border:none windowtext 1.0pt;padding:0cm;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Redeemable Shares</font></i></font></p>

<p style="margin:0cm;margin-bottom:12.0pt;text-indent:36.0pt;"><font face=Arial,sans-serif style="border:none windowtext 1.0pt;padding:0cm;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">BBVA may issue shares that are redeemable at our or the holders&#8217;
request, or both, for a nominal amount no greater than one quarter of our share
capital. Redemption of any such shares may only occur according to the terms
set forth when they are issued. If the redemption right was attributed
exclusively to us, we may not enforce it until three years have elapsed since
the issue. Redeemable shares must be fully paid up at the time of their
subscription. </font></font></p>

<p style="margin:0cm;margin-bottom:12.0pt;text-indent:36.0pt;"><font face=Arial,sans-serif style="border:none windowtext 1.0pt;padding:0cm;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The redemption of redeemable shares must be charged to earnings or
to free reserves or be made with the proceeds of a new share issuance 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>

<p style="margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;text-indent:17.85pt;"><font face=Arial,sans-serif style="border:none windowtext 1.0pt;padding:0cm;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Non-Voting Shares</font></i></font></p>

<p style="margin:0cm;margin-bottom:12.0pt;text-indent:36.0pt;"><font face=Arial,sans-serif style="border:none windowtext 1.0pt;padding:0cm;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">BBVA may issue shares with no voting rights within legally established
limits. Holders of such shares are entitled to receive a minimum fixed or
variable annual dividend, as resolved by the general shareholders&#8217; meeting
and/or the Board of Directors at the time of deciding to issue the shares. In
addition, 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 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="margin:0cm;margin-bottom:12.0pt;page-break-after:avoid;"><font face=Arial,sans-serif style="border:none windowtext 1.0pt;padding:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Certain Other Provisions Regarding Shareholders&#8217; Rights </font></b></font></p>

<p style="margin:0cm;margin-bottom:12.0pt;text-indent:36.0pt;"><font face=Arial,sans-serif style="border:none windowtext 1.0pt;padding:0cm;"><font face=Arial,sans-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="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Certain
Powers of the Board of Directors </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Provisions
regarding directors are generally contained in our bylaws. In addition, our
board regulations govern the internal procedures and operation of the Board of
Directors and its committees and directors&#8217; rights and duties as described in
their respective charters. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
board regulations prohibit a director from deliberating or voting on
resolutions or decisions in which they or a related party may have a direct or
indirect conflict of interest (unless such decisions are related to the
appointment or removal of positions on the management body). The board
regulations require that directors resign from their position upon reaching 75
years of age, and must submit their resignation at the first meeting of the
Board of Directors to be held after the general shareholders&#8217; meeting approving
the accounts for the financial year in which they reach said age. Directors are
not required to hold shares of BBVA in order to be appointed as such.</font></p>

<p align=center style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:center;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Information
about directors&#8217; compensation, including remuneration in shares, is included
under &#8220;</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Item 6. Directors, Senior Management and Employees&#8212;Compensation</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;
in our Annual Report.
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<p align=center style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:center;"><a name=bcl_connect_prev></a><!-- Do not modify before this point! !--><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">DESCRIPTION OF BBVA AMERICAN DEPOSITARY SHARES</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
depositary, The Bank of New York Mellon (the &#8220;</font><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Depositary</font></b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;), registers
and delivers BBVA ADSs. Each BBVA ADS represents an ownership interest in one
ordinary share. The ordinary shares will be deposited with BBVA, The Bank of
New York Mellon&#8217;s custodian in Spain. Each BBVA ADS will also represent
securities, cash or other property deposited with The Bank of New York Mellon
but not distributed to BBVA ADS holders. The Bank of New York Mellon&#8217;s
corporate trust office is located at 240 Greenwich Street, New York, NY 10286. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">BBVA
ADSs may be held either (A) directly (i) by having an American Depositary Receipt,
also referred to as a BBVA ADR, which is a certificate evidencing a specific
number of BBVA ADSs, registered in the holder&#8217;s name, or (ii) by having BBVA
ADSs registered in the holder&#8217;s name in the Direct Registration System (&#8220;</font><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">DRS</font></b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;),
or (B) indirectly by holding a security entitlement in BBVA ADSs through a
broker or other financial institution. If a person holds BBVA ADSs directly,
such person is an ADS registered holder. The information provided in this
section &#8220;</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Description of BBVA American Depositary Shares</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221; describes the
rights and procedures for ADS registered holders. Persons who hold BBVA ADSs
indirectly must rely on the procedures of their broker or other financial
institution to assert the rights of BBVA ADS registered holders described herein.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
DRS is a system administered by The Depository Trust Company (&#8220;</font><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">DTC</font></b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;)
pursuant to which the Depositary may register the ownership of uncertificated
ADSs, which ownership will be evidenced by periodic statements sent by the
Depositary to the registered holders of uncertificated ADSs.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">BBVA
ADS holders are not BBVA shareholders and do not have shareholder rights.
Because The Bank of New York Mellon will actually hold the underlying ordinary
shares, holders must rely on The Bank of New York Mellon to exercise the rights
of a shareholder. The obligations of The Bank of New York Mellon are set out in
the Deposit Agreement. The Deposit Agreement and the BBVA ADSs are governed by
New York law.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
following is a summary of certain material terms of the Deposit Agreement. The
Deposit Agreement is included as Exhibit 1 to BBVA&#8217;s Registration Statement on
Form F-6 filed with the SEC on November 5, 2007. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Deposit and
Withdrawal of Deposited Securities </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Depositary has agreed that upon the execution in favor of the Depositary or its
nominee and delivery to the custodian or Depositary (if to the Depositary, then
at the expense and risk of the depositor) of either (i) a certificate of title
which has been executed by a Spanish stockbroker and, if required, certificates
representing such shares to the custodian together with any documents and
payments required under the Deposit Agreement or (ii) any other evidence of
ownership of shares as recognized under the laws of Spain from time to time,
and acceptable to the custodian, the Depositary will have for delivery at the
Depositary&#8217;s corporate trust office to or upon the order of the person
specified by the depositor at the address set forth above, upon payment of the
fees, charges and taxes provided in the Deposit Agreement, registered in the
name of such person or persons as specified by the depositor, the number of
BBVA ADSs issuable in respect of such deposit.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Upon
surrender of BBVA ADSs at the Depositary&#8217;s corporate trust office, together
with written instructions from the person or persons in whose name the BBVA
ADSs are registered, and upon payment of such charges as are provided in the
Deposit Agreement and subject to its terms, the Depositary will request the
execution of evidence of ownership in favor of such persons designated in the
written instrument and the delivery of such evidence of ownership (by
book-entry transfer or physical delivery) of the deposited shares represented
by the surrendered BBVA ADSs and any other property that the surrendered BBVA
ADSs represent the right to receive. Such delivery is to take place at the
office of the custodian or at the Depositary&#8217;s office as the person designated
in the written instructions may request.</font></p>


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</DIV>
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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 style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">If a person presents
for deposit shares with different distribution rights than other deposited
shares, the Depositary must identify them separately until such time as the
distribution rights are the same.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Dividends,
Other Distributions and Rights </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Depositary has agreed to pay to holders of BBVA ADSs the cash dividends or
other distributions it or the custodian receives on shares or other deposited
securities after deducting its fees and expenses and according to applicable
law. Holders of BBVA ADSs will receive these distributions in proportion to the
number of shares their BBVA ADSs represent.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:17.85pt;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Cash</font></i></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Bank of New York Mellon will convert all cash dividends and other cash
distributions in a foreign currency that it receives in respect of the
deposited securities into U.S. dollars if in its judgment it can do so on a reasonable
basis and can transfer the U.S. dollars to the United States.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Before
making a distribution, any withholding taxes that must be paid will be
deducted. The Bank of New York Mellon will distribute only whole U.S. dollars
and cents. If the exchange rates fluctuate during a time when The Bank of New
York Mellon cannot convert euros into U.S. dollars, holders of BBVA ADSs may
lose some or all of the value of the distribution.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:17.85pt;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Ordinary
Shares</font></i></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">If
a distribution by BBVA consists of a dividend in, or free distribution of,
ordinary shares, The Bank of New York Mellon may, or if BBVA requests, will,
subject to the Deposit Agreement, distribute to the holders of outstanding BBVA
ADSs, in proportion to their holdings, additional BBVA ADSs representing the
number of ordinary shares received as such dividend or free distribution if
BBVA furnishes it with evidence that it is legal to do so. The Bank of New York
Mellon will only distribute whole BBVA ADSs. It will sell ordinary shares which
would require it to deliver fractional BBVA ADSs and distribute the net
proceeds thereof in the same way as it does with cash. If the additional BBVA
ADSs are not so distributed, each BBVA ADS will represent the additional
ordinary shares distributed in respect of the ordinary shares represented by
such BBVA ADS prior to such dividend or free distribution.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Rights</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">. If BBVA offers or causes to be offered to the
holders of shares any rights to subscribe for additional shares or any rights
of any other nature, The Bank of New York Mellon will either:</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">make
such rights available to holders of BBVA ADSs by means of warrants or
otherwise, if The Bank of New York Mellon determines that it is lawful and
feasible to do so; or</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">if
making such rights available is determined by The Bank of New York Mellon not
to be lawful and feasible, or if the rights represented by such warrants or
other instruments are not exercised and appear to be about to lapse, sell such
rights or warrants or other instruments:</font></p>

<p style="margin-bottom:12.0pt;margin-left:108.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;"> &#9744; </font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">on a stock
exchange on which such rights are listed;</font></p>

<p style="margin-bottom:12.0pt;margin-left:108.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;"> &#9744; </font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">on an
over-the-counter market on which such rights are traded; or</font></p>

<p style="margin-bottom:12.0pt;margin-left:108.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;"> &#9744; </font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">with the
written approval of BBVA, at a private sale,</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">at
such place or places and upon such terms as The Bank of New York Mellon may
deem proper, and allocate the proceeds of such sales for the account of the
holders of the BBVA ADSs entitled to those proceeds, upon an averaged or other
practicable basis without regard to any distinctions among such holders of BBVA
ADSs due to exchange restrictions, or the date of delivery of any ADSs or
otherwise.</font></p>


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</DIV>
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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 style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The net proceeds
allocated to the holders of BBVA ADSs so entitled will be distributed to the
extent practicable in the case of a distribution in cash. The Bank of New York
Mellon will not offer such rights to holders of BBVA ADSs having an address in
the United States unless BBVA furnishes to The Bank of New York Mellon (i)
evidence that a registration statement under the Securities Act is in effect or
(ii) an opinion from U.S. counsel for BBVA, in a form satisfactory to The Bank
of New York Mellon, to the effect that such distribution does not require
registration under the provisions of the Securities Act.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Ordinary
shares issuable upon exercise of preemptive rights must be registered under the
Securities Act in order to be offered to holders of BBVA ADSs. If BBVA decided
not to register those ordinary shares, the preemptive rights would not be
distributed to holders of BBVA ADSs. Pursuant to the Deposit Agreement under
which the BBVA ADSs are issued, however, the Depositary will use its best
efforts to sell such rights that it receives and will distribute the proceeds
of the sale to holders of BBVA ADSs.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:17.85pt;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Other
Distributions</font></i></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Bank of New York Mellon will remit to holders of BBVA ADSs any other item of
value BBVA distributes on deposited securities by any means it thinks is legal,
fair and practical. If it cannot make the distribution in that way, The Bank of
New York Mellon may adopt such method as it may deem equitable and practicable
for the purpose of effecting such distribution. The Bank of New York Mellon may
sell, publicly or privately, what BBVA distributed and distribute the net
proceeds in the same way as it does with cash.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Bank of New York Mellon is not responsible if it decides that it is unlawful or
impractical to make a distribution available to any BBVA ADS holders. BBVA has
no obligations to register BBVA ADSs, ordinary shares, rights or other
securities under the Securities Act. BBVA also has no obligation to take any
other action to permit the distribution of BBVA ADSs, ordinary shares, rights
or anything else to BBVA ADS holders. This means that holders of BBVA ADSs may
not receive the distributions BBVA makes on its shares or any value for them if
it is illegal or impractical for BBVA or The Bank of New York Mellon to make
such distributions available to them.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Payment of
Taxes </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Holders
of BBVA ADSs will be responsible for any taxes or other governmental charges
payable on their BBVA ADSs or on the deposited securities underlying their BBVA
ADSs, including any taxes payable on transfer. The Bank of New York Mellon may,
and upon instruction from BBVA, will:</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">refuse
to effect any registration of transfer of such receipt or any split-up or
combination thereof or any withdrawal of such deposited securities until such
payment is made; or</font></p>

<p style="margin-bottom:12.0pt;margin-left:71.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-17.85pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">withhold
or deduct from any distributions on such deposited securities or sell for the
account of the holder thereof any part or all of such deposited securities
(after attempting by reasonable means to notify such holder prior to such
sale), and apply, after deduction for its expenses incurred in connection
therewith, the net proceeds of any such sale in payment of such tax or other
governmental charge, the holder of such receipt remaining liable for any
deficiency.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Record Dates</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Bank of New York Mellon will fix a record date to establish which holders of
BBVA ADSs are entitled to:</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">receive
a dividend, distributions or rights;</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">receive
the net proceeds of any sale;</font></p>


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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 style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">give
instructions for the exercise of voting rights at any such meeting; and</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">receive
notice or solicitation to act in respect of any matter.</font></p>

<p align=right dir=RTL style="direction:rtl;margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:left;text-indent:0cm;unicode-bidi:embed;"><font dir=LTR face=Arial,sans-serif><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Voting
of the Underlying Deposited Securities </font></b></font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">BBVA
has agreed in the Deposit Agreement that (i) the Depositary or its nominee,
whichever is the registered holder of the ordinary shares represented by the
BBVA ADSs, will have the same rights as any other registered holder of ordinary
shares and (ii) consistent with BBVA&#8217;s bylaws, BBVA will observe the right of
the Depositary, its nominee or registered holder of the ordinary shares to
attend any ordinary or extraordinary general shareholders&#8217; meeting and to vote
or cause to be voted by proxy the ordinary shares with respect to the BBVA ADSs
and that BBVA will not exercise any right it may have under its bylaws to
reject or in any way impair such rights.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Once
The Bank of New York Mellon receives notice in English of any matter affecting
holders of ordinary shares, it will mail, as soon as practicable, such notice
to the holders of BBVA ADSs. The notice will (i) contain the information in the
notice of meeting, (ii) explain how holders as of a certain date may instruct
The Bank of New York Mellon to vote the shares underlying their BBVA ADSs and
(iii) contain a statement as to the manner in which instructions may be given.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
record holders of BBVA ADSs can instruct The Bank of New York Mellon to vote
the shares underlying their BBVA ADSs. The Bank of New York Mellon will try,
insofar as practicable, to cause the ordinary shares so represented to be voted
in accordance with any nondiscretionary written instructions of BBVA ADS record
holders received.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">In
the event the BBVA ADS record holders do not provide written instructions by a
specified date, The Bank of New York Mellon will deem the BBVA ADR holder to
have instructed it to give discretionary proxy to a person designated by the
BBVA Board of Directors. However, this proxy must not be given to such a person
if the Board of Directors informs The Bank of New York Mellon, in writing, that
the Board of Directors either does not wish the proxy to be given, that
substantial opposition exists or that the matter at hand materially affects the
rights of BBVA shareholders.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Facilities
and Register </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Bank of New York
Mellon will maintain at its transfer office:</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">facilities
for the delivery and surrender of ordinary shares;</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">facilities
for the withdrawal of ordinary shares;</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">facilities
for the execution and delivery, registration, registration of transfer,
combination and split-up of BBVA ADSs and the withdrawal of deposited
securities; and</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">a
register for the registration and transfer of BBVA ADSs which, at all
reasonable times, shall be open for inspection by holders of BBVA ADSs.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Reports and
Notices</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Bank of New York
Mellon will, at BBVA&#8217;s expense:</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">arrange
for the custodian to provide The Bank of New York Mellon copies in English of
any reports and other communications that are generally made available by BBVA
to holders of ordinary shares; and</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">arrange
for the mailing of such copies to all holders of BBVA ADSs.</font></p>


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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 style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">BBVA has delivered to
The Bank of New York Mellon and the custodian a copy of the provisions of or
governing ordinary shares. Promptly after any amendment, BBVA will deliver to
The Bank of New York Mellon and the custodian a copy in English of such amended
provisions. The Bank of New York Mellon may rely upon such copy for all the
purposes of the Deposit Agreement.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Bank of New York Mellon will, at BBVA&#8217;s expense, make available for inspection
by BBVA ADS holders at the corporate trust office, the office of the custodian
and at any other designated transfer office any reports and communications
received from BBVA that are made generally available to holders of ordinary
shares.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Amendment
and Termination of the Deposit Agreement</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
BBVA ADSs and the Deposit Agreement may at any time be amended by agreement
between BBVA and The Bank of New York Mellon.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Any
amendment that would impose or increase any charges (other than transmission
and delivery charges incurred at the request of depositors of ordinary shares
or holders of BBVA ADSs, transfer, brokerage, registration fees and charges in
connection with conversion of currencies, and taxes and other governmental
charges) or that will otherwise prejudice any substantial existing right of
BBVA ADS holders will not become effective as to outstanding BBVA ADRs until
three months have expired after notice of such amendment has been given to the
holders of the BBVA ADRs.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">In
no event will any amendment impair the right of any BBVA ADS holder to
surrender such BBVA ADSs and receive in return the ordinary shares and other
property which those surrendered BBVA ADSs represent, except in order to comply
with mandatory provisions of applicable law.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">At
BBVA&#8217;s direction, The Bank of New York Mellon will terminate the Deposit
Agreement by giving notice of such termination to the record holders of BBVA
ADSs at least 30 days prior to the date fixed in that notice for the
termination. The Bank of New York Mellon may terminate the Deposit Agreement at
any time commencing 90 days after delivery of a written resignation, provided
that no successor Depositary has been appointed and no successor Depositary has
accepted its appointment before the end of those 90 days.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">After
the date that has been fixed for termination, The Bank of New York Mellon and
its agents will perform no further acts under the Deposit Agreement, other
than:</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">advise
record holders of BBVA ADSs of such termination;</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">receive
and hold distributions on ordinary shares; and</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">deliver
ordinary shares and distributions in exchange for BBVA ADSs surrendered to The
Bank of New York Mellon.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">As
soon as practicable after the expiration of six months from the date that has
been fixed for termination, The Bank of New York Mellon will sell ordinary
shares and other deposited securities and may hold the net proceeds of any such
sale together with any other cash then held by it under the provisions of the
Deposit Agreement, without liability for interest, for the pro rata benefit of
the holders of BBVA ADRs that have not yet surrendered their BBVA ADRs.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Fees and
Expenses </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
fees payable under the Deposit Agreement, either directly or indirectly, by a
holder of ADSs are set forth under &#8220;</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Item 12. Description of Securities Other
than Equity Securities&#8212;American Depositary Shares</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221; in our Annual Report.</font></p>


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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 style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Depositary collects
its fees for delivery and surrender of BBVA ADSs directly from investors
depositing shares or surrendering ADSs for the purpose of withdrawal or from
intermediaries acting for them. The Depositary may generally refuse to provide
fee-attracting services until its fees for those services are paid.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">From
time to time, the Depositary may make payments to us to reimburse and/or share
revenue from the fees collected from ADS holders, or waive fees and expenses
for services provided, generally relating to costs and expenses arising out of
establishment and maintenance of the BBVA ADS program. In performing its duties
under the Deposit Agreement, the Depositary may use brokers, dealers or other
service providers that are affiliates of the Depositary and that may earn or
share fees or commissions.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Limitations
on Obligations and Liability to BBVA ADS Holders</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Deposit Agreement expressly limits BBVA&#8217;s obligations and the obligations of
The Bank of New York Mellon, and it limits BBVA&#8217;s liability and the liability
of The Bank of New York Mellon. BBVA and The Bank of New York Mellon:</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">are
only obligated to take the actions specifically set forth in the Deposit
Agreement without negligence or bad faith;</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">are
not liable for any action or inaction if either relies upon the advice of, or
information from, legal counsel, accountants, any person presenting shares for
deposit, any holder, or any other person believed to be competent to give such
advice or information;</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">are
not liable if either is prevented or delayed by law or circumstances beyond
their control from performing their obligations under the Deposit Agreement;</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">are
not liable if either exercises discretion permitted under the Deposit
Agreement;</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">have
no obligation to become involved in a lawsuit or other proceeding related to
the BBVA ADSs or the Deposit Agreement on behalf of holders of BBVA ADSs or on
behalf of any other party; and</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">may
rely upon any documents they believe to be genuine and to have been signed or
presented by the proper party.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Bank of New York Mellon will not be liable for its failure to carry out any
instructions to vote BBVA&#8217;s securities or for the effects of any such vote.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Other
General Limitations on Liability to BBVA ADS Holders</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Neither
The Bank of New York Mellon, its agents, nor BBVA will incur any liability if
prevented or delayed in performing its obligations under the Deposit Agreement
by reason of:</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">any
present or future law;</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">any
act of God;</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">a
war;</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">the
threat of any civil or criminal penalty; or</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">any
other circumstances beyond their respective control.</font></p>


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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 style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The obligations and
liabilities of BBVA and its agents and The Bank of New York Mellon and its
agents under the Deposit Agreement are expressly limited to performing their
respective obligations specifically set forth and undertaken by them to perform
in the Deposit Agreement without negligence or bad faith.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">In
the Deposit Agreement, BBVA and The Bank of New York Mellon agree to indemnify
each other under certain circumstances.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">General </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Bank of New York Mellon will act as registrar of the BBVA ADSs or, upon BBVA&#8217;s
request or approval, appoint a registrar or one or more co-registrars for
registration of the BBVA ADRs evidencing the BBVA ADSs in accordance with the
requirements of NYSE or of any other stock exchange on which the BBVA ADSs may
be listed. Such registrars or co-registrars may be removed and a substitute or
substitutes appointed by The Bank of New York Mellon upon BBVA&#8217;s request or
with BBVA&#8217;s approval.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Any
transfer of the BBVA ADSs is registrable on the books of The Bank of New York
Mellon. However, The Bank of New York Mellon may close the transfer books at
any time or from time to time when it deems expedient in connection with the
performance of its duties or at BBVA&#8217;s request.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">As
a condition precedent to the execution and delivery, registration of transfer,
split-up or combination of any BBVA ADS or the delivery of any distribution or
the withdrawal of any ordinary shares or any property represented by the BBVA
ADS, The Bank of New York Mellon or the custodian may, and upon BBVA&#8217;s instructions
will, require from the BBVA ADR holder or the presenter of the BBVA ADS or the
depositor of the ordinary shares:</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">payment
of a sum sufficient to pay or reimburse the custodian, The Bank of New York
Mellon or BBVA for any tax or other governmental charge and any stock transfer
or brokerage fee or any charges of the Depositary upon delivery of the BBVA ADS
or upon surrender of the BBVA ADS, as set out in the Deposit Agreement;</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">the
production of proof satisfactory to The Bank of New York Mellon or custodian of:</font></p>

<p style="margin-bottom:12.0pt;margin-left:108.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;"> &#9744; </font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">identity or
genuineness of any signature; and</font></p>

<p style="margin-bottom:12.0pt;margin-left:108.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;"> &#9744; </font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">citizenship,
residence, exchange control approval, and legal or beneficial ownership;</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">compliance
with all applicable laws and regulations including the delivery of any forms
required by Spanish law or custom in connection with the execution or delivery
of evidence of ownership, with all applicable provisions of or governing the
shares or any other deposited securities and with the terms of the Deposit
Agreement; or</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">other
information deemed necessary or proper.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
delivery, registration of transfer, split-up or combination of BBVA ADSs, or
the deposit or withdrawal of shares or other property represented by BBVA ADSs,
in any particular instance or generally, may be suspended during any period
when the BBVA ADSs register is closed, or when such action is deemed necessary
or advisable by The Bank of New York Mellon or BBVA at any time or from time to
time.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Holders
have the right to cancel their BBVA ADSs and withdraw the underlying shares at
any time except:</font></p>


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</DIV>
<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">when
temporary delays arise because The Bank of New York Mellon or BBVA has closed
its transfer books or the deposit of shares in connection with voting at a
shareholders&#8217; meeting or the payment of dividends;</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">when
BBVA ADS holders owe money to pay fees, taxes and similar charges; or</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">when
it is necessary to prohibit withdrawals in order to comply with any laws or
governmental regulations that apply to BBVA ADSs or to the withdrawal of shares
or other deposited securities.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">This
right of withdrawal may not be limited by any other provision of the Deposit
Agreement.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Bank of New York Mellon, upon BBVA&#8217;s request or with BBVA&#8217;s approval, may
appoint one or more co-transfer agents for the purpose of effecting
registrations of transfers, combinations and split-ups of BBVA ADSs at
designated transfer offices on behalf of The Bank of New York Mellon. In
carrying out its functions, a co-transfer agent may require evidence of
authority and compliance with applicable laws and other requirements by holders
of BBVA ADSs and will be entitled to protection and indemnity to the same
extent as The Bank of New York Mellon.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Direct
Registration System </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">In
the Deposit Agreement, all parties to the Deposit Agreement acknowledge that
the DRS and Profile Modification System (&#8220;</font><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Profile</font></b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;) will apply to
uncertificated BBVA ADSs upon acceptance thereof to DRS by DTC. DRS is the
system administered by DTC pursuant to which the Depositary may register the
ownership of uncertificated ADSs, which ownership will be evidenced by periodic
statements sent by the Depositary to the registered holders of uncertificated
ADSs. Profile is a required feature of DRS which allows a DTC participant,
claiming to act on behalf of a registered holder of uncertificated ADSs, to
direct the Depositary to register a transfer of those ADSs to DTC or its
nominee and to deliver those ADSs to the DTC account of that DTC participant
without receipt by the Depositary of prior authorization from the ADS
registered holder to register that transfer.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">In
connection with the arrangements and procedures relating to DRS and Profile,
the parties to the Deposit Agreement understand that the Depositary will not
verify, determine or otherwise ascertain that the DTC participant that is
claiming to be acting on behalf of a BBVA ADS registered holder in requesting
registration of transfer and delivery described in the paragraph above has the
actual authority to act on behalf of the ADS registered holder (notwithstanding
any requirements under the Uniform Commercial Code). In the Deposit Agreement,
the parties agree that the Depositary&#8217;s reliance on and compliance with
instructions received by the Depositary through DRS and Profile and in
accordance with the Deposit Agreement, will not constitute negligence or bad
faith on the part of the Depositary.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Exercise of
Spanish Bail-in Power and Other Resolution Tools </font></b></p>

<p align=center style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:center;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
ordinary shares of BBVA underlying the ADSs may be subject to the exercise of
the Spanish Bail-in Power (including a Non-Viability Loss Absorption) by the
Spanish Resolution Authority. See &#8220;&#8212;</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Description of BBVA Ordinary Shares&#8212;
Exercise of Spanish Bail-in Power and Other Resolution Tools</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">.&#8221;
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<p align=center style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-align:center;"><a name=bcl_connect_prev></a><!-- Do not modify before this point! !--><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">DESCRIPTION OF BBVA 3.000% FIXED RATE SENIOR NOTES
DUE 2020</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">BBVA&#8217;s
3.000% Fixed Rate Senior Notes due 2020 (the &#8220;</font><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Notes</font></b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;) were issued under
the indenture (the &#8220;</font><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Base Indenture</font></b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;) dated July 25, 2013 among BBVA, as
issuer, and The Bank of New York Mellon, as trustee (the &#8220;</font><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Trustee</font></b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;), as
supplemented, with respect to the Notes, by the First Supplemental Indenture,
dated as of October 20, 2015, among BBVA and The Bank of New York Mellon,
acting through its London Branch, as Trustee, paying agent (the &#8220;</font><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Paying
Agent</font></b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;) and transfer agent (the Base Indenture, as supplemented with
respect to the Notes, the &#8220;</font><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Indenture</font></b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;). The Bank of New York Mellon is
also security registrar under the Indenture. The First Supplemental Indenture
amends, restates and supplements the Base Indenture in certain material
respects. The Base Indenture is included as Exhibit 4.9 to BBVA&#8217;s Registration
Statement on Form F-3 filed with the SEC on July 25, 2013, and the First
Supplemental Indenture is included as Exhibit 4.16 to BBVA&#8217;s report on Form 6-K
furnished to the SEC on October 20, 2015 and incorporated by reference into
such Registration Statement. Holders of the Notes may also obtain a copy of the
Indenture from the Trustee. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">This
section entitled &#8220;</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Description of BBVA 3.000% Fixed Rate Senior Notes due
2020</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221; is a summary of certain provisions of the Notes and the Indenture. It
does not purport to be complete and is subject, and is qualified in its
entirety by reference, to all of the provisions of the Notes and the Indenture,
including the definitions of the terms provided therein. Whenever this section
refers to specific provisions of or terms defined in the Indenture, we
incorporate by reference into this section such specific provisions of or terms
defined in the Indenture. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">BBVA
may issue future notes under other indentures or documentation which contain
provisions different from those included in the Indenture. BBVA is not
prohibited under the Notes or the Indenture from paying any amounts due under
any of its obligations at a time when they are in default or have failed to pay
any amounts due under the Notes or the Indenture. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">General </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Notes were issued in $1,000,000,000 aggregate principal amount and will mature
at 100% of their principal amount on October 20, 2020 (the &#8220;</font><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Maturity Date</font></b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;).
The Notes were issued in the form of one or more global certificates
representing the Notes. DTC is the securities depositary for the Notes.
Therefore, the Notes are issued only as registered securities registered in the
name of Cede &amp; Co. (DTC&#8217;s nominee), and BBVA has deposited with DTC one or
more registered global certificates representing in aggregate the total number
of the Notes. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">As
long as DTC or its nominee is the registered holder of such global certificates
representing the Notes, DTC or its nominee, as the case may be, will be
considered the sole owner and holder of the Notes represented by such global
certificates for all purposes under the Indenture and the Notes. Except as
described below, owners of beneficial interests in a Note represented by a
global certificate are not entitled to have the Notes represented by such
global certificates registered in their names, may not receive or be entitled
to receive physical delivery of certificated Notes and are not considered the
holders of such Notes under the Indenture. Accordingly, each person owning a
beneficial interest in a Note represented by a global certificate must rely on
the procedures of DTC and, if that person is not a participant in DTC, on the
procedures of the participant in DTC through which the person owns its
interest, to exercise any rights of a beneficial owner under the Indenture.
Beneficial interests in the Notes represented by such global certificates will
be exchangeable for Notes represented by individual security certificates, or
certificated Notes, and registered in the name or names of owners of such
beneficial interests as specified in instructions provided by DTC to the
Trustee only if: (i) DTC notifies BBVA that it is unwilling or unable to
continue to act as depositary or that it is no longer a clearing agency
registered under the Exchange Act and, in either case, a successor depositary
is not appointed by BBVA within 60 days after the date of such written notice
from DTC, (ii) BBVA notifies the Trustee in writing that it has elected to
cause the issuance of definitive registered Notes or (iii) there shall have occurred
and be continuing an Event of Default (as defined in the Indenture) with
respect to the Notes. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">No
Notes are entitled to the benefit of any sinking fund or similar custodial
arrangement. All payments under the Notes are in U.S. dollars.</font></p>


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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 style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Indenture provides
that, in addition to the Notes, notes, bonds and other evidences of
indebtedness of other series may in the future be issued thereunder without
limitation as to aggregate principal amount. BBVA may from time to time,
without the consent of the holders of the Notes, create and issue further notes
having the same terms and conditions as the previously issued Notes in all
respects (or in all respects except for the issue date, the first payment of
interest thereon and/or issue price), so that such further issue may be
consolidated and form a single series with the outstanding Notes; provided,
however, that any such further issuance will only be made if either such
additional notes are issued with no more than </font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">de minimis</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> original issue
discount for U.S. federal income tax purposes or such further issuance is a
&#8220;qualified reopening&#8221; as such term is defined under U.S. Treasury Regulations
Section 1.1275-2(k)(3) promulgated under the U.S. Internal Revenue Code of
1986, as amended (the &#8220;</font><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Code</font></b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;). &nbsp;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Payment of
Interest</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Notes bear interest at an annual rate of 3.000%. BBVA must pay interest in
arrears on the Notes semi-annually on April 20 and October 20 of each year up
to, and including, the Maturity Date or any date of earlier redemption. Each of
the dates on which interest on the Notes is payable is referred to as an &#8220;</font><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Interest
Payment Date</font></b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;. Interest on the Notes is computed on the basis of a 360-day
year of twelve 30-day months. On each Interest Payment Date for the Notes, BBVA
must pay interest on the Notes for the period commencing on and including the
immediately preceding Interest Payment Date for such Notes and ending on and
including the day immediately preceding that Interest Payment Date. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">If
any Interest Payment Date falls on a day that is not a Business Day (as defined
in the Indenture), the related interest or principal payment shall be postponed
to the next day that is a Business Day, and no interest on such payment shall
accrue for the period from and after such Interest Payment Date. If the
Maturity Date or date of earlier redemption falls on a day that is not a
Business Day, payment of principal and interest on the Notes will be made on
the next day that is a Business Day, and no interest on such Notes will accrue
for the period from and after the Maturity Date or date of earlier redemption. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Interest
on each Note is paid only to the person in whose name such Note is registered
at the close of business on the 15th calendar day prior to the applicable
Interest Payment Date (each such date, a &#8220;</font><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Regular Record Date</font></b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;). &nbsp;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Payments of
Additional Amounts </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Any
amounts to be paid with respect to the Notes must be paid without withholding
or deduction for or on account of any and all present or future taxes or duties
of whatever nature unless such withholding or deduction is required by law. In
the event any such withholding or deduction is imposed or levied by or on
behalf of Spain or any political subdivision or authority thereof or therein
having the power to tax, BBVA has agreed to pay to the relevant holder such
additional amounts (&#8220;</font><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Additional Amounts</font></b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;) as may be necessary in order
that the net amounts received by the holders, after such withholding or
deduction equals the respective amounts of principal, premium, if any,
interest, if any, and sinking fund payments, if any, which would otherwise have
been receivable in respect of the Notes in the absence of such withholding or
deduction. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Notwithstanding
the foregoing, the Indenture specifies certain situations for which no such
Additional Amounts are payable with respect to any Note.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Any
reference to principal, interest or premium includes Additional Amounts to the
extent payable in respect thereof. </font></p>


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</DIV>
<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Redemption </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:17.85pt;"><b><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Optional
Redemption of the Notes </font></i></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">BBVA
may redeem all or a portion of the Notes at its election at any time or from
time to time as set forth below. Notice of redemption shall be given by
first-class mail postage prepaid, mailed not less than 30 nor more than 60 days
prior to the redemption date to each holder of Notes to be redeemed at his or
her address appearing in the register kept by the Trustee, with a copy being
sent to the Trustee. See &#8220;</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8212;Common Terms</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221; below. BBVA may redeem such
Notes at a redemption price equal to the greater of: </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">100%
of the principal amount of such Notes to be redeemed plus accrued and unpaid
interest thereon to, but excluding, the redemption date of such Notes; and </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">as
determined by an Independent Investment Banker (as defined in the Indenture),
the sum of the present values of the remaining scheduled payments of principal
thereof and interest thereon (exclusive of interest accrued thereon to the
redemption date) discounted to the redemption date of the Notes being redeemed
on a semiannual basis (assuming a 360-day year consisting of twelve 30-day
months) at the Treasury Rate (as defined in the Indenture) plus 30 basis points
for the Notes being redeemed, plus accrued and unpaid interest on the principal
amount of such Notes (or any portion thereof) being redeemed to, but excluding,
the redemption date of the Notes (or any portion thereof) being redeemed. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:17.85pt;"><b><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Early
Redemption for Taxation</font></i></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">BBVA
may redeem the Notes in whole but not in part if, as a result of any change in
or amendment to the laws or regulations of Spain (including any treaty to which
Spain is a party) or any political subdivision or any authority thereof or
therein having power to tax, or any change in the application or official
interpretation of such laws or regulations, which change, amendment,
application or interpretation becomes effective on or after October 15, 2015,
BBVA would become obligated to pay Additional Amounts in making any payments
under the Notes, as described in the section entitled &#8220;</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8212;Payments of
Additional Amounts</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221; above, with respect to such payment, provided that BBVA
is not permitted to give notice to the Trustee of the redemption earlier than
60 days prior to the earliest date on which BBVA would be obligated to deduct
or withhold tax or pay Additional Amounts were a payment on the Notes then due.
In the event of such a redemption, the redemption price of the Notes will be
100% of their principal amount together with any accrued but unpaid payments of
interest to, but excluding, the date of redemption. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">If
BBVA elects to redeem the Notes, they will cease to accrue interest from the
redemption date, unless BBVA fails to pay the redemption price on the payment
date. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">In
the case of any merger, consolidation, sale, conveyance or lease not considered
an event of default, or in the case of any assumption of obligations under the
Notes permitted by the Indenture by a successor, if the acquiring, resulting or
successor corporation is not incorporated or tax resident in Spain, the
acquiring, resulting or successor corporation will also be entitled to redeem
the Notes in the circumstances described above for any change or amendment to,
or change in the application or official interpretation of, the laws or
regulations of such corporation&#8217;s jurisdiction of incorporation or tax
residence, which change or amendment must, in the case of a substituted issuer,
occur subsequent to the date of the merger, consolidation, sale, conveyance,
lease or assumption. </font></p>


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</DIV>
<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:17.85pt;"><b><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Common Terms </font></i></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">If
BBVA has elected to redeem the Notes but prior to the payment of the redemption
price with respect to such redemption the Relevant Spanish Resolution Authority
(for purposes of this section &#8220;</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Description of BBVA 3.000% Fixed Rate Senior
Notes due 2020</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;, as defined in the Indenture) exercises its Spanish Bail-in
Power (for purposes of this section &#8220;</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Description of BBVA 3.000% Fixed Rate
Senior Notes due 2020</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;, as defined in the Indenture) with respect to BBVA,
the relevant redemption notice shall be automatically rescinded and shall be of
no force and effect, and no payment of the redemption price will be due and
payable. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Status</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Notes constitute direct, unconditional, unsubordinated and unsecured
obligations of BBVA and, upon the insolvency (</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">concurso de acreedores</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">) of
BBVA, in accordance with and to the extent permitted by the Insolvency Law and
other applicable laws relating to or affecting the enforcement of creditors&#8217;
rights in Spain (including, without limitation, Additional Provision 14.2 of
Law 11/2015), the payment obligations of BBVA under the Notes with respect to
claims for principal (which claims will constitute ordinary claims) will rank:</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">(A)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp; </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">junior to
any (I) privileged claims (</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">cr&#233;ditos privilegiados</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">) (which shall include,
among other claims, any claims in respect of deposits for the purposes of
Additional Provision 14.1 of Law 11/2015) and (II) claims against the insolvency
estate (</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">cr&#233;ditos contra la masa</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">);&nbsp;</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">(B)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp; </font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">pari passu</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> without any
preference or priority among themselves and with all other Senior Preferred
Obligations; and</font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">(C)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp; </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">senior to
(I) any Senior Non-Preferred Obligations and (II) all subordinated obligations
of or claims against BBVA (</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">cr&#233;ditos subordinados</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">), present and future.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8220;</font><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Insolvency
Law</font></b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221; means Law 22/2003 of July 9 on Insolvency (</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Ley 22/2003, de 9 de
julio, concursal</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">), as amended, replaced or supplemented from time to time.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8220;</font><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Senior
Non-Preferred Obligations</font></b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221; means the obligations of BBVA with respect to
(i) the payment of principal under any senior non-preferred notes and (ii) all
other ordinary claims, present and future, which, upon the insolvency (</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">concurso
de acreedores</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">) of BBVA are expressed to rank within the ordinary claims but
junior to Senior Preferred Obligations.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8220;</font><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Senior
Preferred Obligations</font></b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221; means the obligations of BBVA with respect to (i)
the payment of principal under any senior preferred notes (including the Notes)
and (ii) all other ordinary claims, present and future, other than Senior
Non-Preferred Obligations.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Claims
of holders in respect of interest on the Notes accrued but unpaid as of the
commencement of any insolvency proceeding in respect of BBVA shall constitute
subordinated claims (</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">cr&#233;ditos subordinados</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">) against BBVA ranking in
accordance with the provisions of the Insolvency Law (including, without
limitation, junior to claims on account of principal in respect of
contractually subordinated obligations of BBVA, unless otherwise provided by
the Insolvency Law or other applicable laws relating to or affecting the
enforcement of creditors&#8217; rights in Spain).</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Moreover,
the Notes are subject to, can be varied, or can change form, if necessary, to
give effect to, the exercise of the Spanish Bail-in Power by the Relevant
Spanish Resolution Authority, and no holder of any Note shall have any claim
against BBVA in connection with or arising out of any such exercise. No
repayment of payment of Amounts Due (as defined in the Indenture) on the Notes will
become due and payable or be paid after the exercise of the Spanish Bail-in
Power by the Relevant Spanish Resolution Authority if and to the extent such
amounts have been reduced, converted, cancelled, amended or altered as a result
of such exercise.</font></p>


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<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Events of Default </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Except as provided in
the second paragraph immediately below, &#8220;</font><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Event of Default</font></b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;, wherever
used below with respect to the Notes, means any one of the following events: </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">default
by BBVA in the payment of the principal of any Note when due and payable at its
maturity and such default is not remedied within 14 days; </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">default
by BBVA in the payment of any interest on or any Additional Amounts payable in
respect of any Note when such interest becomes or such Additional Amounts
become due and payable, and continuance of such default for a period of 21
days; </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">default
by BBVA in the payment of any premium or deposit of any sinking fund payment,
when and as due by the terms of a Note, and such default is not remedied in 30
days; </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">default
in the performance or breach of certain covenants or warranties of BBVA in the
Indenture or the Notes, and continuance of such breach or default for a period
of 30 days after there has been given, by registered or certified mail, to BBVA
by the Trustee or to BBVA and the Trustee by any holder or the holders of any
outstanding Notes a written notice specifying such default or breach and
requiring it to be remedied and stating that such notice is a &#8220;Notice of
Default&#8221; under the Indenture; </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">an
order is made by any competent court commencing insolvency proceedings (</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">procedimientos
concursales</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">) against BBVA or an order of any competent court or
administrative agency is made or a resolution is passed by BBVA for the
dissolution or winding up of BBVA, except in any such case for the purpose of a
reconstruction or a merger or amalgamation which has been approved by an Act
(as defined in the Indenture) of the holders of the Notes, or where the entity
resulting from any such reconstruction or merger or amalgamation is a financial
institution (</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">entidad de cr&#233;dito</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;"> according to Article 1 of Law 10/2014)
and will have a rating for long-term senior debt assigned by Standard &amp;
Poor&#8217;s Ratings Services, Moody&#8217;s Investors Service or Fitch Ratings Ltd.
equivalent to or higher than the rating for long-term senior debt of BBVA
immediately prior to such reconstruction or merger or amalgamation; </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">BBVA
is adjudicated or found bankrupt or insolvent by any competent court, or any
order of any competent court or administrative agency is made for, or any
resolution is passed by BBVA to apply for, judicial composition proceedings
with its creditors for the appointment of a receiver or trustee or other
similar official in insolvency proceedings (</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">procedimientos concursales</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">)
in relation to BBVA or of a substantial part of its assets (unless in the case
of an order for a temporary appointment, such appointment is discharged within
30 days); </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">BBVA
(except for the purpose of an amalgamation, merger or reconstruction approved
by an Act of the holders of the Notes, or where the entity resulting from any
such amalgamation, merger or reconstruction will have a rating for long-term
senior debt assigned by Standard &amp; Poor&#8217;s Ratings Services, Moody&#8217;s
Investors Service or Fitch Ratings Ltd. equivalent to or higher than the rating
for long-term senior debt of BBVA immediately prior to such amalgamation,
merger or reconstruction) ceases or threatens to cease to directly or
indirectly carry on the whole or substantially the whole of its business; or </font></p>


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<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">a
holder of a security interest takes possession of the whole or any substantial
part of the assets or business of BBVA or an order of any competent court or
administrative agency is made for the appointment of an administrative or other
receiver, manager, administrator or similar official in relation to BBVA or in
relation to the whole or any substantial part of the business or assets of BBVA
(in each case, other than in connection with a Resolution (as defined in the
Indenture) or an Early Intervention (as defined in the Indenture) with respect
to BBVA), or a distress or execution is levied or enforced upon or sued out
against any substantial part of the business or assets of BBVA and is not
discharged within 30 days. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">For
the purpose of the above definition, a report by the external auditors from
time to time of BBVA as to whether any part of the business or assets of BBVA
is &#8220;substantial&#8221; shall, in the absence of manifest error, be conclusive. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Notwithstanding
the above, any Resolution or Early Intervention with respect to BBVA will not,
in and of itself and without regard to any other fact or circumstance,
constitute an Event of Default under the fifth and sixth bullet points set
forth above with respect to the Notes. In addition, neither (i) a reduction or
cancellation, in part or in full, of the Amounts Due on the Notes, or the
conversion thereof into another security or obligation of BBVA or another
person, in each case as a result of the exercise of the Spanish Bail-in Power
by the Relevant Spanish Resolution Authority with respect to BBVA, nor (ii) the
exercise of the Spanish Bail-in Power by the Relevant Spanish Resolution
Authority with respect to the Notes, will constitute an Event of Default. See &#8220;</font><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8212;Agreement
with Respect to the Exercise of the Spanish Bail-in Power</font></i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;. In addition, no
repayment or payment of Amounts Due on the Notes will become due and payable or
be paid after the exercise of the Spanish Bail-in Power by the Relevant Spanish
Resolution Authority if and to the extent such amounts have been reduced,
converted, cancelled, amended or altered as a result of such exercise. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">If
an Event of Default with respect to the Notes at the time outstanding occurs
and is continuing, then the Trustee, acting pursuant to an Act of the holders
of the Notes, with respect to all of the outstanding Notes, or the holder of
any outstanding Note, with respect to such Note held by such holder, may
declare the principal, or such lesser amount as may be provided for in the
Notes (if applicable), of such Notes or Note, as the case may be, to be due and
payable immediately in accordance with the terms of the Indenture.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">At
any time after such a declaration of acceleration with respect to the Notes or
a Note, as the case may be, has been made and before a judgment or decree for
payment of the money due has been obtained by the Trustee as provided in the
Indenture, the holders of not less than a majority in principal amount of the
outstanding Notes may, by Act rescind and annul such declaration and its
consequences if: </font></p>

<p style="margin-bottom:12.0pt;margin-left:71.7pt;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:-17.85pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">BBVA
has paid or deposited with the Trustee a sum of money sufficient to pay: </font></p>

<p style="margin-bottom:12.0pt;margin-left:108.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;"> &#9744; </font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">all overdue
installments of any interest on and Additional Amounts with respect to the
Notes; </font></p>

<p style="margin-bottom:12.0pt;margin-left:108.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;"> &#9744; </font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">the
principal of and any premium on any Notes which have become due otherwise than
by such declaration of acceleration and interest thereon and any Additional
Amounts with respect thereto at the rate or rates borne by or provided for in
such Notes; </font></p>

<p style="margin-bottom:12.0pt;margin-left:108.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;"> &#9744; </font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">to the
extent that payment of such interest or Additional Amounts is lawful, interest
upon overdue installments of any interest and Additional Amounts at the rate or
rates borne by or provided for in such Notes (if applicable); and </font></p>


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</DIV>
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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 style="margin-bottom:12.0pt;margin-left:108.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><font face="Courier New" lang=EN-US style="font-size:10.0pt;"> &#9744; </font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp; </font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">all sums
paid or advanced by the Trustee and the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel and all other
amounts due to the Trustee under the Indenture; and </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">all
Events of Default with respect to Notes, other than the non-payment of the
principal of and any premium and interest on, and any Additional Amounts with
respect to the Notes which shall have become due solely by such declaration of
acceleration, shall have been cured or waived as provided in the Indenture. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">No
such rescission shall affect any subsequent default or impair any right
consequent thereon. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Subject
to payment of the Trustee&#8217;s fees and expenses, the holders of not less than a
majority in principal amount of the outstanding Notes on behalf of the holders
of all of the Notes may, by Act waive any past Event of Default under the
Indenture with respect to the Notes and its consequences, except a default in
the payment of the principal of or any premium, or interest on, or any Additional
Amounts with respect to, any Note or in respect of a covenant or provision of
the Indenture that cannot be modified or amended without the consent of each
holder of outstanding Notes. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">No
holder of any of the Notes has the right to institute any proceeding, judicial
or otherwise, with respect to the Indenture or any remedy thereunder, unless
(i) such holder has previously given written notice to the Trustee of a
continuing Event of Default with respect to the Notes; (ii) the holders of not
less than 25% in principal amount of the outstanding Notes have made written
request to the Trustee to institute proceedings in respect of such Event of
Default as Trustee under the Indenture with respect to the Notes and such
holder or holders have offered to the Trustee reasonable indemnity against the
costs, expenses and liabilities to be incurred in compliance with such request;
(iii) the Trustee has failed to institute any such proceeding within 60 days
after its receipt of such notice, request and offer of indemnity; and (iv) the
Trustee has not received any direction inconsistent with such written request
during such 60-day period by the holders of a majority in principal amount of
the outstanding Notes. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Except
as set forth in the immediately following paragraph, notwithstanding any other
provision in the Indenture and the Notes, the right of each holder is absolute
and unconditional, to receive payment of the principal of, any premium and,
subject to certain provisions in the Indenture with respect to payment of defaulted
interest, interest on, and any Additional Amounts with respect to, his or her
Note or Notes on or after the respective maturity or maturities therefor
specified in such Notes (or, in the case of redemption, on or after the
redemption date or, in the case of repayment at the option of such holder if
provided in or pursuant to the Indenture, on or after the date such repayment
is due) and to institute suit for the enforcement of any such payment, which
cannot be impaired or affected without the consent of such holder, except that
holders of not less than 75% in principal amount of outstanding Notes may
consent by Act on behalf of the holders of all of the outstanding Notes, to the
postponement of the maturity of any installment of interest for a period not
exceeding three years from the original maturity of such installment (which
original maturity shall have been fixed, for the avoidance of doubt, prior to
any previous postponements of such installment). </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Notes may be subject to the exercise of the Spanish Bail-in Power, and no
holder of any Note shall have any claim against BBVA in connection with or
arising out of any such exercise. </font></p>


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</DIV>
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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 style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Within 90 days after
the occurrence of any default under the Indenture known to the Trustee with
respect to the Notes, the Trustee shall transmit by mail to all holders of
Notes entitled to receive reports, notice of such default, unless such default
shall have been cured or waived. Except in the case of a default in the payment
of the principal of (or premium, if any), or interest, if any, on, or
Additional Amounts with respect to, any Note, the Trustee may withhold such
notice if and so long as the board of directors, the executive committee or a
trust committee of directors and/or responsible officers of the Trustee in good
faith determine that the withholding of such notice is in the best interest of
the holders of Notes. For the purpose of this paragraph, the term &#8220;default&#8221;
means any event which is, or after notice or lapse of time or both would
become, an Event of Default with respect to Notes. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Outstanding
Notes </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">In
determining whether the holders of the requisite principal amount of
outstanding Notes have given any request, demand, authorization, direction,
notice, consent or waiver under the Notes or the Indenture, any Note owned by
BBVA or any other obligor upon the Notes or any affiliate of BBVA or such other
obligor (if any such Notes are so owned), will be deemed not to be outstanding.
In addition, the portion of the principal amount of an original issue discount
Note (if any) that will be outstanding will be the amount that would be
declared due and payable as of the date of determination and the principal
amount of an indexed Note (if any) that will be outstanding will be the
principal face amount determined on the date of its original issuance. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Modifications
and Waivers </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:18.0pt;"><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Modification
of the Indenture With Consent of Holders </font></i></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">BBVA and the Trustee
may amend or modify the Indenture and may waive any future compliance with such
Indenture by BBVA with the consent, as evidenced in an Act or Acts, of the
holders of not less than a majority in principal amount of the outstanding
Notes affected thereby voting as a class. However, the modification, amendment
or waiver may not, without the consent or the affirmative vote of the holder of
each Note affected: </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">change
the stated maturity of the principal of, or any premium or installment of
interest on or any Additional Amounts with respect to, any Note, or reduce the
principal amount thereof or the rate of interest thereon (except that holders
of not less than 75% in principal amount of outstanding Notes may consent by
Act, on behalf of the holders of all of the outstanding Notes, to the
postponement of the stated maturity of any installment of interest for a period
not exceeding three years from the original stated maturity of such installment
(which original stated maturity shall have been fixed, for the avoidance of
doubt, prior to any previous postponements of such installment)) or any
Additional Amounts with respect thereto; </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">change
any premium payable upon the redemption of such Notes or otherwise; </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">change
the obligation of BBVA to pay Additional Amounts; </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">reduce
the amount of the principal of an original issue discount Note (if any) that
would be due and payable upon a declaration of acceleration of the maturity of
the Note or the amount thereof provable in bankruptcy; </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">change
the redemption provisions or adversely affect the right of repayment at the
option of the holder; </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">change
the place of payment or currency in which the payment of principal, any
premium, interest or any Additional Amounts is payable; </font></p>


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</DIV>
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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 style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">impair
the right to take legal action to enforce the payment when due of principal,
any premium, interest or any Additional Amounts with respect to the Notes; </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">reduce
the percentage in principal amount of Notes outstanding the consent of whose
holders is required to modify or amend the Indenture or the terms and
conditions of the Notes or to waive a default under or compliance with any Note
or reduce the requirement for a quorum or voting; </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">modify
the provisions governing modification of such Indenture with the consent of
holders or give waivers of past defaults, and the consequences of such
defaults, except to increase the percentage of outstanding Notes the consent of
whose holders is required to modify and amend such Indenture or to give any
such waiver and except to provide that additional provisions of such Indenture
cannot be modified or waived without the consent of each holder of Notes
affected thereby; or </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">change
in any manner adverse to the interests of the holders of outstanding Notes the
terms and conditions of the obligations of BBVA in respect of the due and
punctual payment of principal, premium or interest or sinking fund payments,
including any Additional Amounts; </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">except
in each case with respect to any modification or amendment of the Indenture
which is entered into as a result of, and to the extent required by, the
exercise of the Spanish Bail-in Power by the Relevant Spanish Resolution
Authority (in which case no consent or the affirmative vote of any holder of
any Note affected will be required). </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
holders of not less than a majority in principal amount of the outstanding
Notes on behalf of the holders of all the Notes may, by Act, waive any past
default under the Indenture with respect to the Notes, except a default in
payment of principal, any premium, interest or Additional Amounts or in respect
of certain covenants or provisions specified in the Indenture which cannot be
modified or amended without the consent of each affected holder of outstanding
Notes. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:18.0pt;"><b><i><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Modification
of the Indenture without Consent of Holders </font></i></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">BBVA and the Trustee
may modify and amend the Indenture without the consent of the holders to: </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">evidence
the succession of another entity to BBVA, and the assumption by any such
successor of the covenants of BBVA in such Indenture and in any Notes; </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">add
to covenants of BBVA for the benefit of the holders of the Notes or to
surrender any right or power conferred upon BBVA; </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">establish
the form or terms of notes of any series; </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">provide
for the appointment of a successor trustee and to add to a change any of the
provisions of the Indenture to provide for or facilitate the administration of
trusts under the Indenture; </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">cure
any ambiguity or correct or supplement any defect or inconsistency in such
Indenture, or make any other provisions with respect to matters or questions
arising under the Indenture which do not adversely affect the interests of the
holders of the Notes in any material respect; </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">add
to, delete from or revise the conditions, limitations and restrictions on the
authorized amount, terms or purposes of issue, authentication and delivery of
Notes; </font></p>


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</DIV>
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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 style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">supplement
any of the provisions of the Indenture to such extent as shall be necessary to
permit or facilitate the defeasance and discharge of the Notes, provided such
action does not adversely affect the interests of any holders of Notes or any
other series of notes in any material respect; </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">add
any additional events of default for the benefit of the holders of the Notes; </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">secure
any Notes; </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">delete,
amend or supplement any provision of the Indenture provided such actions will
not materially adversely affect the interests of the holders of Notes then
outstanding; or </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">delete,
amend or supplement any provision of the Indenture as a result of, and to the
extent required by, the exercise of the Spanish Bail-in Power by the Relevant
Spanish Resolution Authority. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Discharge,
Defeasance and Covenant Defeasance </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">BBVA
may discharge certain obligations to holders of the Notes that have not already
been delivered to the Trustee for cancellation and that have become due and
payable, will become due and payable at their stated maturity within one year
or, if redeemable at the option of BBVA, are to be called for redemption within
one year, by depositing or causing to be deposited with the Trustee, in trust,
funds in an amount sufficient to pay and discharge the entire indebtedness on
such Notes, including principal, interest, premium and any Additional Amounts
to the date of such deposit (if such Notes have become due and payable) or to
the maturity date of such Notes, as the case may be. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">BBVA may also elect to
have its obligations under the Indenture discharged with respect to the
outstanding Notes (&#8220;legal defeasance&#8221;). Legal defeasance means that BBVA will
be deemed to have paid and discharged the entire indebtedness represented by
the outstanding Notes under the Indenture, except for: </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">the
rights of holders of such outstanding Notes to receive principal, any premium,
interest and any Additional Amounts when due from the trust described below; </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">the
obligations of BBVA to issue temporary Notes, register the transfer of Notes,
replace temporary or mutilated, destroyed, lost or stolen Notes, pay Additional
Amounts, maintain an office or agency for payment and hold money for payments
in trust; </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">the
rights, powers, trusts, duties and immunities of the Trustee; and </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">the
defeasance provisions of the Indenture. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">In
addition, BBVA may elect to have its obligations released with respect to
certain covenants in the Indenture (&#8220;covenant defeasance&#8221;). Any omission to
comply with any obligations so released will not constitute a default or an
Event of Default with respect to the Notes. </font></p>


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</DIV>
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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 style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">In order to
exercise either legal defeasance or covenant defeasance with respect to
outstanding Notes: </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">BBVA
must irrevocably have deposited or caused to be deposited with the Trustee, in
trust, money, in U.S. dollars or in the foreign currency in which such Notes
are payable at stated maturity, or U.S. government obligations or a combination
of money and U.S. government obligations applicable to such Notes which through
the scheduled payment of principal and interest in accordance with their terms
will provide money in an amount sufficient to pay and discharge when due all of
the principal, interest and any premium of such Notes and any mandatory sinking
fund or analogous payments thereon; </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">the
legal defeasance or covenant defeasance must not result in a breach or
violation of, or constitute a default under, the Indenture or any other
material agreement or instrument to which BBVA is a party or by which it is
bound; </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">no
Event of Default or event which, with notice or lapse of time, or both, would
become an Event of Default with respect to the outstanding Notes may have
occurred and be continuing on the date of the establishment of such a trust,
and in the case of legal defeasance, at any time during the period ending on
the 91st day after such date; </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">BBVA
must have delivered to the Trustee an opinion of counsel of recognized standing
to the effect that the beneficial owners of such Notes will not recognize
income, gain or loss for U.S. federal income tax purposes as a result of the
legal defeasance or covenant defeasance and will be subject to U.S. federal
income tax on the same amounts, in the same manner and at the same times as
would have been the case if the legal defeasance or covenant defeasance had not
occurred. In the case of legal defeasance only, the opinion of counsel must
refer to and be based upon a letter ruling of the Internal Revenue Service
received by BBVA, a Revenue Ruling published by the Internal Revenue Service or
a change in applicable U.S. federal income tax law occurring after the date of
the Indenture; </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">BBVA
must have delivered to the Trustee an officer&#8217;s certificate and an opinion of
counsel, each stating that all conditions precedent to such defeasance have
been complied with; </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">the
legal defeasance or covenant defeasance must not cause the Trustee to have a
conflicting interest within the meaning of the Trust Indenture Act of 1939, as
amended (the &#8220;</font><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Trust Indenture Act</font></b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">&#8221;) (assuming all relevant Notes are in
default within the meaning of such Act); and </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">the
legal defeasance or covenant defeasance must not result in the trust arising
from such deposit constituting an investment company within the meaning of the
Investment Company Act of 1940, as amended, unless such trust shall be
registered under such Act or exempt from registration thereunder. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">If,
after BBVA has deposited funds or U.S. government obligations to effect legal
defeasance or covenant defeasance with respect to Notes, </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">the
holder of a Note is entitled to elect and does elect to receive payment in a
currency other than that in which such deposit has been made in respect of such
Note; or </font></p>

<p style="margin-bottom:12.0pt;margin-left:72.0pt;margin-right:0cm;margin-top:0cm;text-indent:-18.0pt;"><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;
</font><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">a
Conversion Event (as defined in the Indenture) occurs in respect of the foreign
currency in which such deposit has been made; then, </font></p>


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</DIV>
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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 style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:0cm;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">the
indebtedness represented by such Note shall be deemed to have been and will be
fully discharged and satisfied through the payment of the principal, any
premium, interest and any Additional Amounts on such Note as it becomes due out
of the proceeds yielded by converting the amount or other property so deposited
into the currency in which such Note becomes payable as a result of such
election or such conversion event based on the applicable market exchange rate
for such currency in effect on the second business day prior to such payment
date, except, with respect to a conversion event, for such foreign currency in
effect at the time of the conversion event. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">In
the event BBVA effects covenant defeasance with respect to any Notes and such
Notes are declared due and payable because of the occurrence of any Event of
Default, the amount in money and U.S. government obligations deposited in trust
will be sufficient to pay amounts due on such Notes at the time of their stated
maturity. They may not, however, be sufficient to pay amounts due on such Notes
at the time of the acceleration resulting from such Event of Default. In this
case, BBVA will remain liable to make payment of such amounts due at the time
of acceleration. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Upon
the exercise of the Spanish Bail-in Power with respect to the Notes which
results in the cancellation, or the conversion into other securities, of all
the Amounts Due on the Notes or such Notes otherwise ceasing to be outstanding,
the Indenture shall be satisfied and discharged as to the Notes. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The Trustee </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Bank of New York Mellon, the Trustee currently appointed pursuant to the
Indenture, has its corporate trust office located at 240 Greenwich Street, New
York, NY 10286 and the Indenture will be administered by The Bank of New York
Mellon acting through its London Branch at One Canada Square, Canary Wharf,
London E14 5AL, United Kingdom or such other location in New York or England as
notified by the Trustee to the Company from time to time. The Trustee and any
trustee appointed pursuant to the Indenture shall have and be subject to all
the duties and responsibilities specified with respect to an indenture trustee
under the Trust Indenture Act. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">BBVA&#8217;s
obligation to indemnify the Trustee in accordance with the Indenture shall
survive the exercise of the Spanish Bail-in Power by the Relevant Spanish
Resolution Authority with respect to the Notes. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">By
its acquisition of any Notes, each holder thereof is deemed to acknowledge and
agree that, upon the exercise of the Spanish Bail-in Power by the Relevant
Spanish Resolution Authority with respect to the Notes, (a) the Trustee shall
not be required to take any further directions from holders of the Notes under
Section 5.12 (Control by Holders of Securities) of the Indenture, which
authorizes holders of a majority in aggregate outstanding principal amount of
the Notes to direct certain actions relating to the Notes, and (b) the
Indenture shall not impose any duties upon the Trustee whatsoever with respect
to the exercise of the Spanish Bail-in Power by the Relevant Spanish Resolution
Authority with respect to such Notes. Notwithstanding the foregoing, if,
following the exercise of the Spanish Bail-in Power by the Relevant Spanish
Resolution Authority, the Notes remain outstanding (for example, if such
exercise results in only a partial write-down of the principal of the Notes),
then the Trustee&#8217;s duties under the Indenture shall remain applicable with
respect to the Notes following the completion of the exercise of such Spanish
Bail-in Power to the extent that BBVA and the Trustee shall agree pursuant to a
supplemental indenture or an amendment to the Indenture. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Subject
to the provisions of the Trust Indenture Act, the Trustee is under no
obligation to exercise any of the powers vested in it by the Indenture at the
request of any holder of Notes, unless offered reasonable security or indemnity
by the holder against the costs, expenses and liabilities which might be
incurred thereby. </font></p>


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</DIV>
<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Successor Trustees </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Any
Trustee in respect of the Notes may resign or be removed by holders of a
majority in principal amount of Notes at any time, effective upon the
acceptance by a successor Trustee of the respective appointment. The Indenture
provides that any successor Trustee will have a combined capital and surplus of
not less than $50,000,000 and shall be a corporation, association, company or
business trust organized and doing business under the laws of the United States
or any of its states or territories or the District of Columbia and in good
standing. No person shall accept its appointment as a successor Trustee with
respect to the Notes unless at the time of such acceptance such successor
Trustee shall be qualified and eligible under the Indenture. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Repayment of
Funds </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">All
monies paid by BBVA to the Trustee or the Paying Agent for payment of
principal, premium or interest and any Additional Amounts on any Notes which
remain unclaimed at the end of two years after that payment has been made will
be repaid to BBVA on BBVA&#8217;s request and all liability of the Trustee or the
Paying Agent related to it will cease, and, if permitted by law, the holder of
the applicable Note will look only to BBVA for payment as its general unsecured
creditor. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Prescription
</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">All
claims against BBVA for payment of principal, interest or Additional Amounts on
or in respect of the Notes will become void unless made within ten years, in
the case of principal, and five years, in the case of interest and Additional
Amounts, from the later of the date on which that payment first became due and
the date on which the full amount was received by the Trustee or the Paying
Agent. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Consolidation,
Merger and Conveyance of Assets; Assumption </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Except
as provided by the Events of Default, nothing contained in the Indenture or in
any of the Notes shall prevent any consolidation, amalgamation or merger of
BBVA with or into any other person or persons (whether or not affiliated with
BBVA), or successive consolidations, amalgamations or mergers in which BBVA or
the successor or successors of BBVA shall be a party or parties, or shall
prevent any sale, conveyance or lease of the property of BBVA as an entirety or
substantially as an entirety, to any other person (whether or not affiliated
with BBVA); provided that the corporation formed by or into which BBVA is
consolidated, amalgamated or merged shall assume the due and punctual payment
of the principal of (and premium, if any), interest and Additional Amounts, if
any, on the Notes in accordance with the provisions thereof and the Indenture,
and the performance of every covenant of the Indenture on the part of BBVA to
be performed or observed. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Subject
to applicable law and regulation, any holding company or wholly-owned
subsidiary of BBVA may assume BBVA&#8217;s obligations under the Notes without the
consent of any holder, provided that certain conditions are satisfied,
including that the successor entity has ratings for long-term senior and
subordinated debt assigned by Standard &amp; Poor&#8217;s Ratings Services or Moody&#8217;s
Investors Service, Inc. which are the same as or higher than the credit rating
for long-term senior and subordinated debt of BBVA (or, if applicable, the
previous successor entity) immediately prior to such assumption. Upon any such
assumption, all of BBVA&#8217;s direct obligations under the Notes and, with respect
to such Notes, all of BBVA&#8217;s direct obligations under the Indenture shall
immediately be discharged, and the successor entity shall succeed to, and be
substituted for, and may exercise every right and power of, BBVA under the
Indenture with respect to any such Notes with the same effect as if such
successor entity had been named as BBVA in the Indenture. </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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<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 style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">In the case of any
merger, consolidation, sale, conveyance or lease, or in the case of any
assumption of obligations under the Notes permitted by the Indenture by a
successor, if the acquiring, resulting or successor corporation is not
incorporated or tax resident in Spain, Additional Amounts under the Notes will
be payable for taxes imposed by the jurisdiction of incorporation or tax
residence of such corporation (subject to exceptions equivalent to those that
apply to the obligation to pay Additional Amounts for taxes imposed by the laws
of Spain) rather than taxes imposed by Spain. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Governing
Law </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
Notes and the Indenture are governed by and construed under the laws of the
State of New York applicable to agreements made or instruments entered into
and, in each case, performed in said state, except that the authorization and
execution by BBVA of the Indenture and the Notes and the issuance of the Notes
are governed by and construed in accordance with Spanish law. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Exercise of
the Spanish Bail-in Power </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Notwithstanding
any other term of the Notes, the Indenture or any other agreements,
arrangements, or understandings between BBVA and any holder, by purchasing any
Notes, each holder (which, for the purposes of this section, includes each
holder of a beneficial interest in the Notes) acknowledges, accepts, consents
and agrees to be bound by: (i) the effect of the exercise of the Spanish
Bail-in Power by the Relevant Spanish Resolution Authority, that may include
and result in any of the following, or some combination thereof: (1) the
reduction of all, or a portion, of the Amounts Due on the Notes; (2) the
conversion of all, or a portion, of the Amounts Due on the Notes into shares,
other securities or other obligations of BBVA or another person (and the issue
to or conferral on the holder of any such shares, securities or obligations),
including by means of an amendment, modification or variation of the terms of
the Notes; (3) the cancellation of the Notes; (4) the amendment or alteration
of the maturity of the Notes or amendment of the amount of interest payable on
the Notes, or the date on which the interest becomes payable, including by
suspending payment for a temporary period; and (ii) the variation of the terms
of the Notes, if necessary, to give effect to the exercise of the Spanish
Bail-in Power by the Relevant Spanish Resolution Authority. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">By
purchasing any Notes, each holder thereof acknowledges and agrees that neither
a reduction or cancellation, in part or in full, of the Amounts Due on the
Notes, or the conversion thereof into another security or obligation of BBVA or
another person, in each case as a result of the exercise of the Spanish Bail-in
Power by the Relevant Spanish Resolution Authority with respect to BBVA, nor
the exercise of the Spanish Bail-in Power by the Relevant Spanish Resolution
Authority with respect to the Notes, shall: (i) give rise to a Default or Event
of Default for purposes of Section 315(b) (Notice of Default) and Section
315(c) (Duties of the Trustee in Case of Default) of the Trust Indenture Act or
(ii) be an Event of Default with respect to the Notes. Each holder further
acknowledges and agrees that no repayment or payment of Amounts Due on the
Notes will become due and payable or be paid after the exercise of the Spanish
Bail-in Power by the Relevant Spanish Resolution Authority if and to the extent
such amounts have been reduced, converted, cancelled, amended or altered as a
result of such exercise. </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>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_35"></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 style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">By purchasing any
Notes, each holder, to the extent permitted by the Trust Indenture Act, waives
any and all claims, in law and/or in equity, against the Trustee for, agree not
to initiate a suit against the Trustee in respect of, and agree that the
Trustee will not be liable for, any action that the Trustee takes, or abstains
from taking, in either case in accordance with the exercise of the Spanish
Bail-in Power by the Relevant Spanish Resolution Authority with respect to the
Notes. Additionally, by purchasing any Notes, each holder acknowledges and
agrees that, upon the exercise of the Spanish Bail-in Power by the Relevant
Spanish Resolution Authority with respect to the Notes: (i) the Trustee will
not be required to take any further directions from the holders with respect to
any portion of the Notes under Section 5.12 of the Indenture; and (ii) the
Indenture will not impose any duties upon the Trustee whatsoever with respect
to the exercise of the Spanish Bail-in Power by the Relevant Spanish Resolution
Authority; provided, however, that notwithstanding the exercise of the Spanish
Bail-in Power by the Relevant Spanish Resolution Authority with respect to the
Notes, so long as any Notes remain outstanding, there will at all times be a
trustee for the Notes in accordance with the Indenture, and the resignation
and/or removal of the Trustee and the appointment of a successor trustee will
continue to be governed by the Indenture, including to the extent no additional
supplemental indenture or amendment is agreed upon in the event the Notes
remain outstanding following the completion of the exercise of the Spanish
Bail-in Power. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">By
purchasing any Notes, each holder further agrees to be deemed to have
authorized, directed and requested DTC and any direct participant in DTC or
other intermediary through which it holds such Notes to take any and all
necessary action, if required, to implement the exercise of the Spanish Bail-in
Power with respect to the Notes as it may be imposed, without any further action
or direction on the part of such holder. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Upon
the exercise of the Spanish Bail-in Power by the Relevant Spanish Resolution
Authority with respect to the Notes, BBVA or the Relevant Spanish Resolution
Authority (as the case may be) will provide a written notice to DTC as soon as
practicable regarding such exercise of the Spanish Bail-in Power for purposes
of notifying the holders of the Notes. BBVA will also deliver a copy of such
notice to the Trustee for information purposes. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Purchases of
the Notes </font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">BBVA
and any of its subsidiaries may at any time purchase the Notes in the open
market or otherwise and at any price in accordance with any applicable laws and
regulations. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Maintenance
of Tax Procedures</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">The
First Supplemental Indenture, among other things, provides for the timely
provision by the Paying Agent of a duly executed and completed Payment
Statement (as defined in the Indenture) in connection with each payment of
&#8220;income&#8221; (as defined below) under the Notes, and sets forth certain procedures
agreed by BBVA and the Paying Agent which aim to facilitate such process, along
with a form of the Payment Statement to be used by the Paying Agent. For these
purposes, &#8220;income&#8221; means interest paid on an Interest Payment Date or the
amount of the difference, if any, between the aggregate redemption price paid
upon the redemption of the Notes (or a portion thereof) and the aggregate
principal amount of such Notes, as applicable. In addition, BBVA has agreed to,
so long as any principal amount of the Notes remains outstanding and insofar as
it is practicable, maintain, implement or arrange for the implementation of
procedures to facilitate the timely provision of a duly executed and completed
Payment Statement in connection with each payment of income under the Notes or
the collection of any other documentation concerning such Notes or the
Beneficial Owners thereof that may be required under Spanish law for payments
on such Notes not to be subject to Spanish withholding tax. </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>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_36"></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 style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">If the Paying Agent
fails to deliver a duly executed and completed Payment Statement on a timely
basis, in respect of an Interest Payment Date or in connection with a
redemption of Notes, then the related payment will be subject to Spanish
withholding tax. In such an event, BBVA will pay the relevant Noteholder such
Additional Amounts as may be necessary in order that the net amount received by
such Noteholder after such withholding equals the sum of the respective amounts
of principal, premium, if any, and interest, if any, which would otherwise have
been receivable in respect of the Notes in the absence of such withholding. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;page-break-after:avoid;text-indent:0cm;"><b><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">Notices</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-indent:36.0pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:10.0pt;">All
notices to holders of Notes shall be validly given if mailed to them at their
respective addresses in the register maintained by the Trustee.</font></p>




<DIV bclFooter>


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</DIV>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-15.1
<SEQUENCE>5
<FILENAME>d20f2019exhibits151.htm
<DESCRIPTION>EXHIBIT 15.1
<TEXT>

<html>

<head>
<meta content="text/html; charset=utf-8" />


<title>CONSENT</title>


</head>

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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:26.0pt;margin-left:0cm;margin-right:0cm;margin-top:15.0pt;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;"><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:10.0pt;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:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;"><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;232333
on Form F-3 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 February
28, 2020, with respect to the consolidated balance sheets of Banco Bilbao
Vizcaya Argentaria, S.A. as of December 31, 2019, 2018 and 2017, the related
consolidated statements of income, recognized income and expense, 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,
2019, which reports appear in the December 31, 2019 annual report on Form 20-F
of Banco Bilbao Vizcaya Argentaria, S.A.</font></p>

<p style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:12.0pt;"><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 the change in accounting in
2018 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></p>

<p align=left style="margin-bottom:10.0pt;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;</font></p>

<p align=left style="margin-bottom:10.0pt;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;">/s/ &#160;KPMG
Auditores, S.L.</font></p>

<p align=left style="margin-bottom:10.0pt;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;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:10.0pt;"><font face=Arial,sans-serif lang=EN-US 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=EN-US style="font-size:10.0pt;line-height:12.0pt;">February 28, 2020</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;"><font face=Arial,sans-serif lang=EN-US style="font-size:11.0pt;line-height:13.0pt;">&nbsp;</font></p>




<DIV bclFooter>


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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.2
<SEQUENCE>6
<FILENAME>d20f2019exhibits1202.htm
<DESCRIPTION>EXHIBIT 12.2
<TEXT>

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<title>CERTIFICATIONS</title>


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<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
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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;">Date: February 28, 2020</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=EN-US 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 lang=EN-US 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 lang=EN-US 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>




<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>
</DIV><HR noshade align="center" width="100%" size=2></BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.3
<SEQUENCE>7
<FILENAME>d20f2019exhibits1203.htm
<DESCRIPTION>EXHIBIT 12.3
<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
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 lang=EN-US 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 lang=EN-US style="font-size:10.0pt;">Date: February 28, 2020</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/ 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 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 lang=EN-US 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>


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</DIV>
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J_P#/O%_WP*D1%C7:BA1Z 8HHH =2$ ]1FBB@!:*** "BBB@ HHHH __9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>9
<FILENAME>d20f2019x245x0.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 d20f2019x245x0.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  H'!P@'!@H(" @+"@H+#A@0#@T-
M#AT5%A$8(Q\E)"(?(B$F*S<O)BDT*2$B,$$Q-#D[/CX^)2Y$24,\2#<]/CO_
MVP!# 0H+"PX-#AP0$!P[*"(H.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[
M.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SO_P  1"  C &0# 2(  A$! Q$!_\0
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M_P"$T\,_]!RS_P"_HK0T_5]-U56;3[Z"Z"_>\J0,1]1VKFO^%5^%?^?:X_\
M AJXG7])C\"^.-,;1)Y?WVUO*9LD MM*GU!]Z4:5*>D&[CE4J0UDE8]6C\0:
M/+J1TV/4;=KP,5,&\;\CJ,5HUY9\4-&FTK5K3Q5IW[M_,42LH^[(OW6_$#!^
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J_P#/O%_WP*D1%C7:BA1Z 8HHH =2$ ]1FBB@!:*** "BBB@ HHHH __9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>10
<FILENAME>d20f2019x246x0.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 d20f2019x246x0.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  H'!P@'!@H(" @+"@H+#A@0#@T-
M#AT5%A$8(Q\E)"(?(B$F*S<O)BDT*2$B,$$Q-#D[/CX^)2Y$24,\2#<]/CO_
MVP!# 0H+"PX-#AP0$!P[*"(H.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[
M.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SO_P  1"  C &0# 2(  A$! Q$!_\0
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M_P"$T\,_]!RS_P"_HK0T_5]-U56;3[Z"Z"_>\J0,1]1VKFO^%5^%?^?:X_\
M AJXG7])C\"^.-,;1)Y?WVUO*9LD MM*GU!]Z4:5*>D&[CE4J0UDE8]6C\0:
M/+J1TV/4;=KP,5,&\;\CJ,5HUY9\4-&FTK5K3Q5IW[M_,42LH^[(OW6_$#!^
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J_P#/O%_WP*D1%C7:BA1Z 8HHH =2$ ]1FBB@!:*** "BBB@ HHHH __9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>11
<FILENAME>d20f2019x247x0.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 d20f2019x247x0.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  H'!P@'!@H(" @+"@H+#A@0#@T-
M#AT5%A$8(Q\E)"(?(B$F*S<O)BDT*2$B,$$Q-#D[/CX^)2Y$24,\2#<]/CO_
MVP!# 0H+"PX-#AP0$!P[*"(H.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[
M.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SO_P  1"  C &0# 2(  A$! Q$!_\0
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MP3U 3<">V0>,_6G_ !6B2?Q?H\,@)22)4;'H9,&A8=>T4;Z-7!UGR<UM;V.]
M_P"$T\,_]!RS_P"_HK0T_5]-U56;3[Z"Z"_>\J0,1]1VKFO^%5^%?^?:X_\
M AJXG7])C\"^.-,;1)Y?WVUO*9LD MM*GU!]Z4:5*>D&[CE4J0UDE8]6C\0:
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J_P#/O%_WP*D1%C7:BA1Z 8HHH =2$ ]1FBB@!:*** "BBB@ HHHH __9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>12
<FILENAME>d20f2019x248x0.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 d20f2019x248x0.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  H'!P@'!@H(" @+"@H+#A@0#@T-
M#AT5%A$8(Q\E)"(?(B$F*S<O)BDT*2$B,$$Q-#D[/CX^)2Y$24,\2#<]/CO_
MVP!# 0H+"PX-#AP0$!P[*"(H.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[
M.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SO_P  1"  C &0# 2(  A$! Q$!_\0
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M_P"$T\,_]!RS_P"_HK0T_5]-U56;3[Z"Z"_>\J0,1]1VKFO^%5^%?^?:X_\
M AJXG7])C\"^.-,;1)Y?WVUO*9LD MM*GU!]Z4:5*>D&[CE4J0UDE8]6C\0:
M/+J1TV/4;=KP,5,&\;\CJ,5HUY9\4-&FTK5K3Q5IW[M_,42LH^[(OW6_$#!^
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MD$=/M$O^%8>J:Y%X=^+=[J<T+S)$Y!1" 3F,#O\ 6NA_X7-IO;2;K/\ OK7I
MR]K:/(KJR//C[.\N9]68OA5KCP1XY&FZS:1/-?;46Z#%B-QX()[$\'O4_P 6
M8Y)?%>DQQ-LD>$*C9QM)DX-1V7]I_$+QU::N;![6PLV0EFS@*IW ;L<L3Z=*
MD^+$ZVWBS2)V&X10AR!WQ)FFOXT6][:@_P"$^U]"_P#\(/X\_P"AN/\ X$2_
MX5SM]INK^!?$EEK.N1Q:LK/D2M(SY(]SR& Y&>*Z;_A<VF_] FZ_[[6L#Q!K
MVH_$JYL]-TK2I8H8G+%V.[!/&YCC"@#-*G[6_OJRZA/V5O<>IZM?V=IXBT&2
MVD^:VO805;'(!&58>XX->9^ M</A#6M1\/ZU*(85+,&8\*ZCG'LR@$?0>M>J
MV-L+*PM[13N6")8P?7  _I7G'Q9\,O.;?7+.$O(2L$ZJ,ELG"'\^/Q%<U!Q;
M=.6S-ZRDDJBW1G^$K6;QQX\N?$%ZA-K:N)%1N@/_ "S3\ ,GZ>]6_B?K$VK:
MO:>%=.^=_,4RA?XI&^ZI^@.3]?:NV\*:!_PC?AF&QC"?:BIDE8]&E(YS[#@?
M05B>%O -SI/B.?7-6OHKVY?<R%%(P['YF.?;@?6M/:PYW+HMD1[.7(H]]SIM
M$T6WT70K?2HE#1Q1[7)'WR?O$_4DUY?;,WPY^(S0.2NF79QD]/*8_*?^ GCZ
M ^M>Q5S'CCP<OBVQ@2*5(+JW?*2NN05/WE./P/X5C1J)2:GL]S6K3;BG'='3
M @C(Y!HK-\/6-]INAVUCJ%RES/ NSS4!&Y1]W.>^,"BL&K.QLG=%YK:!V+/!
M&S'J2@)I/LEM_P ^\7_? HHHNPL2@   # '84R2"&4@R1(Y'0LH-%%(8W[):
J_P#/O%_WP*D1%C7:BA1Z 8HHH =2$ ]1FBB@!:*** "BBB@ HHHH __9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>13
<FILENAME>d20f2019x249x0.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 d20f2019x249x0.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  H'!P@'!@H(" @+"@H+#A@0#@T-
M#AT5%A$8(Q\E)"(?(B$F*S<O)BDT*2$B,$$Q-#D[/CX^)2Y$24,\2#<]/CO_
MVP!# 0H+"PX-#AP0$!P[*"(H.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[
M.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SO_P  1"  C &0# 2(  A$! Q$!_\0
M'P   04! 0$! 0$           $" P0%!@<("0H+_\0 M1   @$# P($ P4%
M! 0   %] 0(#  01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T? D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
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M Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O 58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
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M4EK=:M:PSQG#QO( 5[\U#_PFGAG_ *#EE_W]%><W.D6FN?&.[T^^5F@D=BP5
MMIXB!'/X5V!^%7A4@C[/<#W%PU=<J=*"7,WJKG-&=25^5+0ZNTO;6_@$]G<1
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MR]K:/(KJR//C[.\N9]68OA5KCP1XY&FZS:1/-?;46Z#%B-QX()[$\'O4_P 6
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J_P#/O%_WP*D1%C7:BA1Z 8HHH =2$ ]1FBB@!:*** "BBB@ HHHH __9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>14
<FILENAME>d20f2019x250x0.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 d20f2019x250x0.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  H'!P@'!@H(" @+"@H+#A@0#@T-
M#AT5%A$8(Q\E)"(?(B$F*S<O)BDT*2$B,$$Q-#D[/CX^)2Y$24,\2#<]/CO_
MVP!# 0H+"PX-#AP0$!P[*"(H.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[
M.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SO_P  1"  C &0# 2(  A$! Q$!_\0
M'P   04! 0$! 0$           $" P0%!@<("0H+_\0 M1   @$# P($ P4%
M! 0   %] 0(#  01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T? D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
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MI'&I9F8X"@=2:IZ;KFEZP9!IU]#=&+&_RFSMSTS^1KC?BQXA-EI<>B6['S[W
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M5LMR;6_'%KH_BS3]%<(4G_X^9"?]46X3]>OL1755X!_8NK>*-.UCQ2YW>5)O
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MD$=/M$O^%8>J:Y%X=^+=[J<T+S)$Y!1" 3F,#O\ 6NA_X7-IO;2;K/\ OK7I
MR]K:/(KJR//C[.\N9]68OA5KCP1XY&FZS:1/-?;46Z#%B-QX()[$\'O4_P 6
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J_P#/O%_WP*D1%C7:BA1Z 8HHH =2$ ]1FBB@!:*** "BBB@ HHHH __9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>15
<FILENAME>d20f2019x251x0.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 d20f2019x251x0.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  H'!P@'!@H(" @+"@H+#A@0#@T-
M#AT5%A$8(Q\E)"(?(B$F*S<O)BDT*2$B,$$Q-#D[/CX^)2Y$24,\2#<]/CO_
MVP!# 0H+"PX-#AP0$!P[*"(H.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[
M.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SO_P  1"  C &0# 2(  A$! Q$!_\0
M'P   04! 0$! 0$           $" P0%!@<("0H+_\0 M1   @$# P($ P4%
M! 0   %] 0(#  01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T? D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
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MD$=/M$O^%8>J:Y%X=^+=[J<T+S)$Y!1" 3F,#O\ 6NA_X7-IO;2;K/\ OK7I
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J_P#/O%_WP*D1%C7:BA1Z 8HHH =2$ ]1FBB@!:*** "BBB@ HHHH __9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>16
<FILENAME>d20f2019x252x0.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 d20f2019x252x0.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  H'!P@'!@H(" @+"@H+#A@0#@T-
M#AT5%A$8(Q\E)"(?(B$F*S<O)BDT*2$B,$$Q-#D[/CX^)2Y$24,\2#<]/CO_
MVP!# 0H+"PX-#AP0$!P[*"(H.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[
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    <xbrli:period>
      <xbrli:startDate>2017-01-01</xbrli:startDate>
      <xbrli:endDate>2017-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CustodianbanksAxis_bbva_StatestreetbankandtrustcoMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000842180</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="bbva:CustodianbanksAxis">bbva:StatestreetbankandtrustcoMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CustodianbanksAxis_bbva_ChasenomineesltdMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000842180</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="bbva:CustodianbanksAxis">bbva:ChasenomineesltdMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:context id="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CustodianbanksAxis_bbva_ThebankofnewyorkmellonsanvMember">
    <xbrli:entity>
      <xbrli:identifier scheme="http://www.sec.gov/CIK">0000842180</xbrli:identifier>
      <xbrli:segment>
        <xbrldi:explicitMember dimension="bbva:CustodianbanksAxis">bbva:ThebankofnewyorkmellonsanvMember</xbrldi:explicitMember>
      </xbrli:segment>
    </xbrli:entity>
    <xbrli:period>
      <xbrli:startDate>2019-01-01</xbrli:startDate>
      <xbrli:endDate>2019-12-31</xbrli:endDate>
    </xbrli:period>
  </xbrli:context>
  <xbrli:unit id="EUR">
    <xbrli:measure>iso4217:EUR</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="pure">
    <xbrli:measure>xbrli:pure</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="shares">
    <xbrli:measure>xbrli:shares</xbrli:measure>
  </xbrli:unit>
  <xbrli:unit id="EURSHARE">
    <xbrli:divide>
      <xbrli:unitNumerator>
        <xbrli:measure>iso4217:EUR</xbrli:measure>
      </xbrli:unitNumerator>
      <xbrli:unitDenominator>
        <xbrli:measure>xbrli:shares</xbrli:measure>
      </xbrli:unitDenominator>
    </xbrli:divide>
  </xbrli:unit>
  <bbva:Contributiontoconsolidatedgroupassets id="ID_0" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:513.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:513.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:318.75pt;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:318.75pt;' &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:48.75pt;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:48.75pt;' &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:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:318.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:318.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Banking and other financial services&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;667,319&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;659,414&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:318.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:318.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29,300&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,134&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:318.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:318.75pt;' &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:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,071&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,511&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:318.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:318.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;698,690&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Contributiontoconsolidatedgroupassets>
  <bbva:Disclosureallocationofearningsexplanatory id="ID_1" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:469.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:469.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Allocation of earnings of BBVA, S.A. (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25.15pt;' &gt;&lt;td style='width:360.75pt;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:360.75pt;' &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:108.75pt;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:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;December 2019&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:360.75pt;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:360.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Profit for year&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2,241&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:360.75pt;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:360.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Distribution&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &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:12pt;' &gt;&lt;td style='width:360.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:360.75pt;' &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:108.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &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:360.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:360.75pt;' &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:108.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &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:360.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:360.75pt;' &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:108.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;419&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:360.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:360.75pt;' &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:108.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;88&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureallocationofearningsexplanatory>
  <bbva:Basicanddelutedearningspershare id="ID_2" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:498pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:498pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:329.25pt;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:329.25pt;' &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: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:#072146;' &gt;2019&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:#072146;' &gt;2018 &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:6.8pt;font-weight:bold;color:#072146;' &gt;(4)&lt;/font&gt;&lt;/sup&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:#072146;' &gt;2017 &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:6.8pt;font-weight:bold;color:#072146;' &gt;(4)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:329.25pt;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:329.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Numerator for basic and diluted earnings per share (millions of euros)&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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:329.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:329.25pt;' &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:56.25pt;border-top-style:solid;border-top-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;3,512&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,400&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,514&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.15pt;' &gt;&lt;td style='width:329.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:329.25pt;' &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: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;(419)&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;(447)&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;(430)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:329.25pt;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:329.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Profit adjusted (millions of euros) (A)&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:#004481;' &gt;3,093&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:#004481;' &gt;4,953&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:#004481;' &gt;3,084&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:329.25pt;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:329.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Denominator for basic earnings per share (number of shares outstanding)&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:#004481;' &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:#004481;' &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:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:329.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:329.25pt;' &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:56.25pt;border-top-style:solid;border-top-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;6,668&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:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-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;6,642&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:329.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:329.25pt;' &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: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;6,668&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;6,668&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;6,642&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:329.25pt;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:329.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Adjusted number of shares - Basic earnings per share (C)&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:#004481;' &gt;6,648&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:#004481;' &gt;6,636&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:#004481;' &gt;6,642&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:329.25pt;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:329.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Adjusted number of shares - diluted earnings per share  (D)&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:#004481;' &gt;6,648&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:#004481;' &gt;6,636&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:#004481;' &gt;6,642&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:329.25pt;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:329.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Earnings per share (*)&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:#004481;' &gt;0.47&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:#004481;' &gt;0.75&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:#004481;' &gt;0.46&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:329.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:329.25pt;' &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:56.25pt;border-top-style:solid;border-top-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;0.47&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.75&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.46&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:329.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:329.25pt;' &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: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;0.47&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;0.75&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;0.46&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Basicanddelutedearningspershare>
  <bbva:Totalassetsoperatingsegment id="ID_3" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:#02A5A5;' &gt;Total assets by operating segments (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018 (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017 (1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;365,374&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;354,901&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;350,520&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;88,529&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;75,775&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;109,079&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;97,432&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;90,214&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey &lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;64,416&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;78,789&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;54,996&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;54,373&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;75,320&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:303pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,248&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18,834&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17,265&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:303pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;705,641&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;673,848&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;687,884&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Corporate Center and adjustments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6,951)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,841&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,175&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:303pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;698,690&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Totalassetsoperatingsegment>
  <bbva:Incomebyoperatingsegment id="ID_4" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:40.5pt;' &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;border-color:Black;min-width:108.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;BBVA Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;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:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;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:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;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:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;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:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;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:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;South America&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;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:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Rest of Eurasia&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;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:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Corporate Center&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.95pt;' &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;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;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:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:11.45pt;' &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:6pt;color:#000000;' &gt;Net interest income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;18,202&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,645&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,395&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,209&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,814&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,196&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;175&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(233)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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:6pt;color:#000000;' &gt;Gross income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;24,542&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,734&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,223&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,029&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,590&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,850&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;454&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(339)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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:6pt;color:#000000;' &gt;Operating profit /(loss) before tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,398&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,878&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;705&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,691&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,341&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,396&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2,775)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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:#5AC4C4;border-color:Black;min-width:108.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,512&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,386&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;590&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2,699&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;506&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;721&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(2,517)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.95pt;' &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;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2018 (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:11.45pt;' &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:6pt;color:#000000;' &gt;Net interest income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,698&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;175&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:11.45pt;' &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:6pt;color:#000000;' &gt;Gross income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,968&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;414&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(420)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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:6pt;color:#000000;' &gt;Operating profit /(loss) before tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,446&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,840&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;920&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,288&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;148&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(463)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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:#5AC4C4;border-color:Black;min-width:108.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;5,400&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,400&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;736&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2,367&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;567&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;578&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(343)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.95pt;' &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;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2017 (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:11.45pt;' &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:6pt;color:#000000;' &gt;Net interest income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,810&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;180&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:11.45pt;' &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:6pt;color:#000000;' &gt;Gross income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,162&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;468&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;74&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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:6pt;color:#000000;' &gt;Operating profit /(loss) before tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,189&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;749&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,960&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,143&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,671&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;181&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,962)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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:#5AC4C4;border-color:Black;min-width:108.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,514&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;877&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2,170&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;823&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;847&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(1,817)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Incomebyoperatingsegment>
  <ifrs-full:DisclosureOfCreditRiskExposureExplanatory id="ID_5" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:723pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:723pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &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:370.5pt;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:370.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;December 2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Stage 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Financial assets held for trading &lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;69,503&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;26,309&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:370.5pt;' &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:70.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8,892&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;34,303&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:18.75pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Non-trading financial assets mandatorily at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;5,557&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:370.5pt;' &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:70.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;110&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,327&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:18.75pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Financial assets designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;1,214&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Derivatives (trading and hedging) &lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;39,462&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:18.75pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;61,293&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;58,841&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;58,590&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;250&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:370.5pt;' &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:70.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,420&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Financial assets at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;451,640&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;402,024&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;33,624&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;15,993&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:370.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:370.5pt;' &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:70.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13,664&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13,500&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;158&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:370.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:370.5pt;' &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:70.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;394,763&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;345,449&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;33,360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15,954&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:370.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;38,930&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;38,790&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;106&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Total financial assets risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;628,670&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Total loan commitments and financial guarantees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;181,116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;169,663&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;10,452&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;1,001&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:370.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;809,786&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:723pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:723pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &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:370.5pt;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:370.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;December 2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Financial assets held for trading &lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;59,581&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:370.5pt;' &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:70.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:18pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Non-trading financial assets mandatorily at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;5,135&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:370.5pt;' &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:70.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;237&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:25.5pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Financial assets designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;1,313&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Derivatives (trading and hedging) &lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;38,249&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:23.25pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;56,365&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:370.5pt;' &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:70.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Financial assets at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;431,927&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;384,632&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;30,902&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;16,394&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:370.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:370.5pt;' &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:70.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;34&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:370.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:370.5pt;' &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:70.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:370.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;195&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Total financial assets risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;592,571&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Total loan commitments and financial guarantees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;170,511&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;161,404&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;8,120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;987&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:370.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;background-color:#5AC4C4;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;763,082&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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;</ifrs-full:DisclosureOfCreditRiskExposureExplanatory>
  <bbva:Tableofcashandcashequivalentsexplanatory id="ID_6" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:8pt;color:#02A5A5;' &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:255.75pt;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:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#44546A;' &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:#072146;' &gt;2019&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:#072146;' &gt;2018&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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:255.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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: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;7,060&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;6,346&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;6,220&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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: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;31,755&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;43,880&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;31,718&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:255.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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: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;5,488&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;7,970&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;4,742&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:255.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:255.75pt;' &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:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;44,303&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;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &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:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofcashandcashequivalentsexplanatory>
  <bbva:Derivativesbytypeofriskbyproductorbytypeofmarket id="ID_7" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:9pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:461.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:461.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;Derivatives by type of risk and by product or by type of market (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;font-weight:bold;color:#072146;' &gt;2019&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:7pt;font-weight:bold;color:#072146;' &gt;2018&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:7pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.25pt;' &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:7pt;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:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;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:7pt;font-weight:bold;color:#072146;' &gt;Liabilities&lt;/font&gt;&lt;/td&gt;&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:7pt;font-weight:bold;color:#072146;' &gt;Notional amount - Total&lt;/font&gt;&lt;/td&gt;&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:7pt;font-weight:bold;color:#072146;' &gt;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:7pt;font-weight:bold;color:#072146;' &gt;Liabilities&lt;/font&gt;&lt;/td&gt;&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:7pt;font-weight:bold;color:#072146;' &gt;Notional amount - Total&lt;/font&gt;&lt;/td&gt;&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:7pt;font-weight:bold;color:#072146;' &gt;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:7pt;font-weight:bold;color:#072146;' &gt;Liabilities&lt;/font&gt;&lt;/td&gt;&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:7pt;font-weight:bold;color:#072146;' &gt;Notional amount - Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;21,479&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;20,853&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;3,024,794&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;19,146&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;18,769&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;2,929,371&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;22,606&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;22,546&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;2,152,490&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;color:#000000;' &gt;OTC &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:7pt;color:#000000;' &gt;21,479&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:7pt;color:#000000;' &gt;20,852&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:7pt;color:#000000;' &gt;2,997,443&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:7pt;color:#000000;' &gt;19,146&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:7pt;color:#000000;' &gt;18,769&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:7pt;color:#000000;' &gt;2,910,016&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:7pt;color:#000000;' &gt;22,606&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:7pt;color:#000000;' &gt;22,546&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:7pt;color:#000000;' &gt;2,129,474&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;color:#000000;' &gt;Organized market&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;27,351&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;19,355&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;23,016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;2,263&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;3,499&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;84,140&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;2,799&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;2,956&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;114,184&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;1,778&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;2,336&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;95,573&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;color:#000000;' &gt;OTC&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:7pt;color:#000000;' &gt;353&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:7pt;color:#000000;' &gt;1,435&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:7pt;color:#000000;' &gt;40,507&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:7pt;color:#000000;' &gt;631&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:7pt;color:#000000;' &gt;463&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:7pt;color:#000000;' &gt;39,599&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:7pt;color:#000000;' &gt;578&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:7pt;color:#000000;' &gt;1,207&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:7pt;color:#000000;' &gt;42,298&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;color:#000000;' &gt;Organized market&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:7pt;color:#000000;' &gt;1,910&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:7pt;color:#000000;' &gt;2,065&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:7pt;color:#000000;' &gt;43,633&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:7pt;color:#000000;' &gt;2,168&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:7pt;color:#000000;' &gt;2,492&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:7pt;color:#000000;' &gt;74,586&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:7pt;color:#000000;' &gt;1,200&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:7pt;color:#000000;' &gt;1,129&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:7pt;color:#000000;' &gt;53,275&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;9,086&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;10,266&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;472,194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;8,355&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;9,693&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;432,283&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;10,371&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;10,729&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;380,404&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;color:#000000;' &gt;OTC&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:7pt;color:#000000;' &gt;9,049&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:7pt;color:#000000;' &gt;10,260&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:7pt;color:#000000;' &gt;463,662&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:7pt;color:#000000;' &gt;8,344&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:7pt;color:#000000;' &gt;9,638&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:7pt;color:#000000;' &gt;426,952&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:7pt;color:#000000;' &gt;10,337&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:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10,688&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:7pt;color:#000000;' &gt;373,303&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;color:#000000;' &gt;Organized market&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:7pt;color:#000000;' &gt;37&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:7pt;color:#000000;' &gt;6&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:7pt;color:#000000;' &gt;8,532&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:7pt;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:7pt;color:#000000;' &gt;55&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:7pt;color:#000000;' &gt;5,331&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:7pt;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:7pt;color:#000000;' &gt;40&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:7pt;color:#000000;' &gt;7,101&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;353&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;397&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;29,077&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:7pt;font-weight:bold;color:#004481;' &gt;232&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;393&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;25,452&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;489&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;517&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;30,181&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;color:#000000;' &gt;Credit default swap&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:7pt;color:#000000;' &gt;338&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:7pt;color:#000000;' &gt;283&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:7pt;color:#000000;' &gt;26,702&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:7pt;color:#000000;' &gt;228&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:7pt;color:#000000;' &gt;248&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:7pt;color:#000000;' &gt;22,791&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:7pt;color:#000000;' &gt;480&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:7pt;color:#000000;' &gt;507&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:7pt;color:#000000;' &gt;27,942&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;color:#000000;' &gt;Credit spread option&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;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:7pt;color:#000000;' &gt;150&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;500&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;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:7pt;color:#000000;' &gt;200&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;color:#000000;' &gt;Total return swap&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,225&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;145&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,161&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,039&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Commodities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;36&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;font-weight:bold;color:#004481;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;561&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;DERIVATIVES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;33,185&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;35,019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;3,610,269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;30,536&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;31,815&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;3,501,358&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;35,265&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;36,169&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;2,659,246&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;font-style:italic;color:#666666;' &gt;Of which: OTC - credit institutions&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:7pt;font-style:italic;color:#808080;' &gt;20,706&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:7pt;font-style:italic;color:#808080;' &gt;23,717&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:7pt;font-style:italic;color:#808080;' &gt;1,000,243&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:7pt;font-style:italic;color:#808080;' &gt;16,979&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:7pt;font-style:italic;color:#808080;' &gt;18,729&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:7pt;font-style:italic;color:#808080;' &gt;897,384&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:7pt;font-style:italic;color:#808080;' &gt;21,016&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:7pt;font-style:italic;color:#808080;' &gt;22,804&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:7pt;font-style:italic;color:#808080;' &gt;898,209&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;font-style:italic;color:#666666;' &gt;Of which: OTC - other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;6,153&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;6,214&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;2,370,988&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;7,372&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;7,758&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;2,355,784&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;8,695&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;9,207&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;1,548,919&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;font-style:italic;color:#666666;' &gt;Of which: OTC - other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;4,378&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;3,016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;159,521&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;4,005&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;2,780&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;148,917&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;4,316&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;2,986&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:7pt;font-style:italic;color:#808080;' &gt;128,722&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Derivativesbytypeofriskbyproductorbytypeofmarket>
  <ifrs-full:DisclosureOfInformationAboutTermsAndConditionsOfHedgingInstrumentsAndHowTheyAffectFutureCashFlowsExplanatory id="ID_8" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:493.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:493.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:182.25pt;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:182.25pt;' &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: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:8pt;font-weight:bold;color:#072146;' &gt;3 months or less&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:8pt;font-weight:bold;color:#072146;' &gt;From 3 months to 1 year&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:8pt;font-weight:bold;color:#072146;' &gt;From 1 to 5 years&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:8pt;font-weight:bold;color:#072146;' &gt;More than 5 years&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:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:182.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &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: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:8pt;color:#000000;' &gt;447&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:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;488&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:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,076&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:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,061&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:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,071&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:182.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &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:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;395&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:8pt;color:#000000;' &gt;411&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:8pt;color:#000000;' &gt;2,223&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:8pt;color:#000000;' &gt;2,003&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:8pt;color:#000000;' &gt;5,032&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfInformationAboutTermsAndConditionsOfHedgingInstrumentsAndHowTheyAffectFutureCashFlowsExplanatory>
  <ifrs-full:DisclosureOfDetailedInformationAboutHedgingInstrumentsExplanatory id="ID_9" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:7pt;color:#02A5A5;' &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:12.75pt;' &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:7pt;font-weight:bold;color:#44546A;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#44546A;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:#5AC4C4;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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;tr style='height:11.25pt;' &gt;&lt;td style='width:276.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Derivatives - Hedge accounting&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,729&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:21pt;' &gt;&lt;td style='width:276.75pt;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: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:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:12pt;' &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:#5AC4C4;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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;tr style='height:12.75pt;' &gt;&lt;td style='width:276.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,233&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,880&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDetailedInformationAboutHedgingInstrumentsExplanatory>
  <bbva:Tangibleassetsbyspanishandforeignsubsidiariesnetassetsvalues id="ID_10" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:#02A5A5;' &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: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:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &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:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:276.75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;BBVA and Spanish subsidiaries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,865&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,574&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:276.75pt;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;color:#000000;' &gt;Foreign subsidiaries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,203&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,617&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:#5AC4C4;border-color:Black;min-width:276.75pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;10,068&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tangibleassetsbyspanishandforeignsubsidiariesnetassetsvalues>
  <bbva:Tangibleassetsbreakdownbytypeofassetcostvalueamortisationsandimpairments id="ID_11" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:22.5pt;' &gt;&lt;td colspan='11' rowspan='1' style='width:693pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:693pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Tangible assets: Breakdown by type of assets and changes in the year 2019. (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:182.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:166.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:111pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Right to use asset&lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:5.05pt;font-weight:bold;color:#072146;' &gt;(*)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Investment properties&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Assets leased out under an operating lease&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &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:182.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:55.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:55.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Land and buildings&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:55.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Work in progress&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:55.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Furniture, fixtures and vehicles&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Own use&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Investment properties&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:11.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:182.25pt;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:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Cost &lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &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:11.25pt;' &gt;&lt;td style='width:182.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:182.25pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:11.25pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:11.25pt;' &gt;&lt;td style='width:182.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;63&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;335&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,574&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;101&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,175&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:182.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(44)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(302)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(57)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &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:11.25pt;' &gt;&lt;td style='width:182.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(41)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(51)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &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:11.25pt;' &gt;&lt;td style='width:182.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &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:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;57&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(49)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:182.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:182.25pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,001&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,351&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:11.25pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,516&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;101&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;337&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16,578&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:182.25pt;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:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &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:11.25pt;' &gt;&lt;td style='width:182.25pt;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:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Accrued depreciation &lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:11.25pt;' &gt;&lt;td style='width:182.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:182.25pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:11.25pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:11.25pt;' &gt;&lt;td style='width:182.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;126&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;457&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;381&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;979&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:182.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(38)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(255)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(296)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:182.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(16)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &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:11.25pt;' &gt;&lt;td style='width:182.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &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:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(57)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &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:11.25pt;' &gt;&lt;td style='width:182.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:182.25pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,253&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,344&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:11.25pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;370&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;74&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,067&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:182.25pt;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:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &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:11.25pt;' &gt;&lt;td style='width:182.25pt;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:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Impairment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:11.25pt;' &gt;&lt;td style='width:182.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:182.25pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:11.25pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:11.25pt;' &gt;&lt;td style='width:182.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;94&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:182.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &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:182.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(16)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;127&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &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:11.25pt;' &gt;&lt;td style='width:182.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &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:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:182.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:182.25pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;212&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:11.25pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;443&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:182.25pt;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:182.25pt;' &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:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:13.5pt;' &gt;&lt;td style='width:182.25pt;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:182.25pt;' &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:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:13.5pt;' &gt;&lt;td style='width:182.25pt;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:182.25pt;' &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:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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;tr style='height:13.5pt;' &gt;&lt;td style='width:182.25pt;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:182.25pt;' &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:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;4,536&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;2,007&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &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:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;2,955&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;175&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;263&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;10,068&lt;/font&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:467.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:467.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:12.75pt;' &gt;&lt;td style='width:161.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:114.75pt;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:114.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;For own use&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Total tangible asset of own use&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Investment properties&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Assets leased out under an operating lease&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &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:161.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:38.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Land and buildings&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Work in progress&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &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:161.25pt;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:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Cost &lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:13.5pt;' &gt;&lt;td style='width:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:161.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;445&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;404&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;927&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:10.5pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(98)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(492)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(607)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(149)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:10.5pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(177)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(125)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:10.5pt;' &gt;&lt;td style='width:161.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(48)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(214)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(224)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(105)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:13.5pt;' &gt;&lt;td style='width:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:10.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:13.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Accrued depreciation &lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:13.5pt;' &gt;&lt;td style='width:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:161.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;469&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;589&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:10.5pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(36)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(403)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(439)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:10.5pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:38.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:10.5pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(31)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(53)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:10.5pt;' &gt;&lt;td style='width:161.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(212)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(200)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:13.5pt;' &gt;&lt;td style='width:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:10.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:13.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Impairment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:13.5pt;' &gt;&lt;td style='width:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:10.5pt;' &gt;&lt;td style='width:161.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:10.5pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(27)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:10.5pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(77)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(77)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:10.5pt;' &gt;&lt;td style='width:161.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(51)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(51)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:13.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:13.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:13.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:13.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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: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:#02A5A5;' &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:161.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:119.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-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;font-weight:bold;color:#072146;' &gt;For own use&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Total tangible asset of own use&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Investment properties&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Assets leased out under an operating lease&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &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:161.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:39.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Land and buildings&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Work in progress&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &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:161.25pt;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:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Cost &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: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;&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;&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;&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;&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;&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;&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;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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:161.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;49&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:8pt;color:#000000;' &gt;128&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:8pt;color:#000000;' &gt;397&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:8pt;color:#000000;' &gt;574&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:8pt;color:#000000;' &gt;1&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:8pt;color:#000000;' &gt;201&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: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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;(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:8pt;color:#000000;' &gt;(29)&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:8pt;color:#000000;' &gt;(264)&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:8pt;color:#000000;' &gt;(335)&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:8pt;color:#000000;' &gt;(90)&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:8pt;color:#000000;' &gt;(93)&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: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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:39.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;(552)&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: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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;(273)&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:8pt;color:#000000;' &gt;(57)&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:8pt;color:#000000;' &gt;(186)&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:8pt;color:#000000;' &gt;(516)&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:8pt;color:#000000;' &gt;(698)&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:8pt;color:#000000;' &gt;-&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: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:161.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:39.75pt;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;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:8pt;color:#000000;' &gt;(420)&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:8pt;color:#000000;' &gt;(48)&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:8pt;color:#000000;' &gt;(378)&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:8pt;color:#000000;' &gt;(844)&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:8pt;color:#000000;' &gt;(148)&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:8pt;color:#000000;' &gt;(22)&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: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:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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:161.25pt;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:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &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;color:#094FA4;' &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;color:#FFFFFF;' &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;color:#FFFFFF;' &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;color:#FFFFFF;' &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;color:#FFFFFF;' &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;color:#FFFFFF;' &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;color:#FFFFFF;' &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;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Accrued depreciation &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: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;&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;&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;&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;&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;&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;&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;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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:161.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;45&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:8pt;color:#000000;' &gt;127&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;553&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:8pt;color:#000000;' &gt;680&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:8pt;color:#000000;' &gt;13&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:8pt;color:#000000;' &gt;-&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: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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;(26)&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;(235)&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:8pt;color:#000000;' &gt;(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:8pt;color:#000000;' &gt;(7)&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:8pt;color:#000000;' &gt;(21)&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: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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:39.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;(134)&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: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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;(53)&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;(146)&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:8pt;color:#000000;' &gt;(199)&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:8pt;color:#000000;' &gt;(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:8pt;color:#000000;' &gt;-&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: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:161.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:39.75pt;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;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:8pt;color:#000000;' &gt;(88)&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:8pt;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:8pt;color:#000000;' &gt;(253)&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:8pt;color:#000000;' &gt;(341)&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:8pt;color:#000000;' &gt;(25)&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:8pt;color:#000000;' &gt;16&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: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:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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:161.25pt;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:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &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;color:#094FA4;' &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;color:#FFFFFF;' &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;color:#FFFFFF;' &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;color:#FFFFFF;' &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;color:#FFFFFF;' &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;color:#FFFFFF;' &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;color:#FFFFFF;' &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;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Impairment &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: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;&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;&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;&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;&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;&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;&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;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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:161.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;48&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:8pt;color:#000000;' &gt;5&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;5&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:8pt;color:#000000;' &gt;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:8pt;color:#000000;' &gt;-&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: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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;(2)&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;(2)&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:8pt;color:#000000;' &gt;(10)&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:39.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;(10)&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:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;(58)&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;(58)&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:8pt;color:#000000;' &gt;(276)&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:8pt;color:#000000;' &gt;-&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: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:161.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:39.75pt;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;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:8pt;color:#000000;' &gt;(9)&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:8pt;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:8pt;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:8pt;color:#000000;' &gt;(9)&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:8pt;color:#000000;' &gt;(140)&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:8pt;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: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:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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:161.25pt;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:161.25pt;' &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: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: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;&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;&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;&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;&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;&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;&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;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &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: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: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;4,681&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;240&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;2,598&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;7,519&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;691&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;732&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;8,941&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &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: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: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;4,099&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;234&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;2,248&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;6,581&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;195&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;415&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;7,191&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tangibleassetsbreakdownbytypeofassetcostvalueamortisationsandimpairments>
  <bbva:Branchesbygeographicallocation id="ID_12" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:8pt;color:#02A5A5;' &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: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:8pt;font-weight:bold;color:#0A5FB4;' &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;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&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:8pt;font-weight:bold;color:#072146;' &gt;2018&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:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&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:8pt;color:#000000;' &gt;2,642&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:8pt;color:#000000;' &gt;2,840&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: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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&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:8pt;color:#000000;' &gt;1,860&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:8pt;color:#000000;' &gt;1,836&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:8pt;color:#000000;' &gt;1,840&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.15pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,530&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:8pt;color:#000000;' &gt;1,543&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:8pt;color:#000000;' &gt;1,631&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.15pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:72pt;text-align:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;643&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:8pt;color:#000000;' &gt;646&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:8pt;color:#000000;' &gt;651&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.15pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&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:8pt;color:#000000;' &gt;1,038&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:8pt;color:#000000;' &gt;1,066&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:8pt;color:#000000;' &gt;1,095&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.15pt;' &gt;&lt;td style='width:261pt;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:8pt;color:#000000;' &gt;Rest of Eurasia&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:8pt;color:#000000;' &gt;31&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:8pt;color:#000000;' &gt;32&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:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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:#5AC4C4;border-color:Black;min-width:261pt;' &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: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:#5AC4C4;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,744&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:#5AC4C4;border-color:Black;min-width:72pt;' &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: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:#5AC4C4;border-color:Black;min-width:72pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Branchesbygeographicallocation>
  <ifrs-full:DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory id="ID_13" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:497.25pt;border-bottom-style:solid;border-bottom-width:1;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:8pt;color:#5AC4C4;' &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:15pt;' &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:#44546A;' &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;The United States&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;Turkey&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;Mexico&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;Colombia&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;Chile&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;Other&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;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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:#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;border-color:Black;min-width:51pt;' &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: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;&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;&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;&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;&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;&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;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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:#5AC4C4;border-color:Black;min-width:140.25pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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:15pt;' &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;Additions &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;-&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;24&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;-&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;24&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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;Exchange difference&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;(666)&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;(115)&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;(44)&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)&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;(3)&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;(1)&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;(851)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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;Impairment&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;-&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;-&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;(4)&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;(4)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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;Other&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;-&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;(10)&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;(33)&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;(43)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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:#5AC4C4;border-color:Black;min-width:140.25pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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:15pt;' &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;Exchange difference&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;229&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;(127)&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;26&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)&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;(3)&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;118&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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:#5AC4C4;border-color:Black;min-width:140.25pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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;tr style='height:15pt;' &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;Exchange difference&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;98&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;(36)&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;31&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;3&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;(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;(1)&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;93&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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;Impairment&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;(1,318)&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;-&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;-&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;(1,318)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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:#5AC4C4;border-color:Black;min-width:140.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance as of December 31, 2019&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,846&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;346&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;550&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;164&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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;22&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,955&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory>
  <bbva:Impairmenttesthypothesescgugoodwillintheunitedstates id="ID_14" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:#02A5A5;' &gt;Impairment test assumptions 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:297.75pt;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:297.75pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:297.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:297.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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;/table&gt;&lt;/div&gt;</bbva:Impairmenttesthypothesescgugoodwillintheunitedstates>
  <bbva:Sensitivityanalysisformainhypothesesusa id="ID_15" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:#02A5A5;' &gt;Sensitivity analysis for main assumptions - The United States (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:36pt;' &gt;&lt;td style='width:213.75pt;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:213.75pt;' &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:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Increase of 50 basis points (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;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:213.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:135pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(871)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:135pt;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;340&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(292)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Sensitivityanalysisformainhypothesesusa>
  <bbva:Impairmenttesthypothesescgugoodwillinturkey id="ID_16" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:471.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:471.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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: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:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.45pt;' &gt;&lt;td style='width:287.25pt;border-top-style:solid;border-top-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;color:#000000;' &gt;Discount rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17.4%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.45pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:Sensitivityanalysisformainhypothesesturkey id="ID_17" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:#02A5A5;' &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:213.75pt;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:213.75pt;' &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:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Impact of an increase of 50 basis points&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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:213.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:135pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(192)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;212&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:135pt;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Sensitivityanalysisformainhypothesesturkey>
  <ifrs-full:DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory id="ID_18" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:#02A5A5;' &gt;Other intangible assets (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27.75pt;' &gt;&lt;td style='width:266.25pt;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:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#44546A;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:266.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Computer software acquisition expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,598&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,682&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &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:52.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:12pt;' &gt;&lt;td style='width:266.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &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:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;401&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;518&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;708&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:266.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:266.25pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,010&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory>
  <bbva:Otherintangibleassetschangesovertheperiod id="ID_19" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:474.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:474.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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: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:#0A5FB4;' &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:#072146;' &gt;Notes&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:#072146;' &gt;2019&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:#072146;' &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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &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:#5AC4C4;border-color:Black;min-width:276.75pt;' &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:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;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:#5AC4C4;border-color:Black;min-width:49.5pt;' &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: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:#5AC4C4;border-color:Black;min-width:49.5pt;' &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: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:#5AC4C4;border-color:Black;min-width:49.5pt;' &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;tr style='height:14.25pt;' &gt;&lt;td style='width:276.75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-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;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;533&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;552&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;564&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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:49.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:8pt;color:#000000;' &gt;(620)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(614)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(694)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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:49.5pt;text-align:center;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;(123)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &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:15pt;' &gt;&lt;td style='width:276.75pt;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;color:#000000;' &gt;Impairment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;color:#000000;' &gt;48&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;(12)&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;(83)&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;(12)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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:#5AC4C4;border-color:Black;min-width:276.75pt;' &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:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;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:#5AC4C4;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,010&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:#5AC4C4;border-color:Black;min-width:49.5pt;' &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: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:#5AC4C4;border-color:Black;min-width:49.5pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Otherintangibleassetschangesovertheperiod>
  <bbva:Reconciliationoftaxationatthespanishcorporationtaxratetothetaxexpenserecordedfortheperiod id="ID_20" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:488.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:488.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Reconciliation of taxation at the Spanish corporation tax rate to the tax expense recorded for the year&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:213.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:213.75pt;' &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:91.5pt;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:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:91.5pt;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:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:91.5pt;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:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.9pt;' &gt;&lt;td style='width:213.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Effective tax &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Effective tax &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Effective tax &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:213.75pt;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:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Profit or (-) loss before tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;6,398&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;8,446&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;6,931&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &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:213.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,398&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,920&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(381)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(234)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(307)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Mexico &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(112)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(78)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(100)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:11.45pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Chile &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(29)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Colombia &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;32%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:11.45pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Peru &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(16)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:11.45pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(86)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(132)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(182)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Others (***)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(175)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(49)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(57)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(53)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:213.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;545&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(27)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;457&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:213.75pt;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:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Income tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2,053&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2,219&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2,174&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &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:213.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: Continuing operations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;2,053&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;2,219&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;2,174&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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;</bbva:Reconciliationoftaxationatthespanishcorporationtaxratetothetaxexpenserecordedfortheperiod>
  <bbva:Effectivetaxrateexplanatory id="ID_21" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:497.25pt;border-bottom-style:solid;border-bottom-width:1;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:8pt;color:#02A5A5;' &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: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:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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;Income from:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &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:52.5pt;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:52.5pt;' &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:52.5pt;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:52.5pt;' &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:52.5pt;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:52.5pt;' &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:287.25pt;border-top-style:solid;border-top-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;color:#000000;' &gt;Consolidated tax group in Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(718)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(678)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:52.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:11.45pt;' &gt;&lt;td style='width:287.25pt;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;color:#000000;' &gt;Foreign entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,580&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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;background-color:#5AC4C4;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Gains (losses) before taxes from continuing operations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,398&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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;/tr&gt;&lt;tr style='height:11.45pt;' &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;color:#000000;' &gt;Tax expense or income related to profit or loss from continuing operations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,053&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &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:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,174&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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;background-color:#5AC4C4;border-color:Black;min-width:287.25pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;32.1%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;26.3%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;31.4%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Effectivetaxrateexplanatory>
  <bbva:Taxrecognizedintotalequity id="ID_22" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:497.25pt;border-bottom-style:solid;border-bottom-width:1;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:8pt;color:#02A5A5;' &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: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:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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;Charges to total equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &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:52.5pt;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:52.5pt;' &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:52.5pt;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:52.5pt;' &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:52.5pt;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:52.5pt;' &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:287.25pt;border-top-style:solid;border-top-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;color:#000000;' &gt;Debt securities and others&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(130)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(87)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(355)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:287.25pt;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;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(40)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(56)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:11.45pt;' &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;background-color:#5AC4C4;border-color:Black;min-width:287.25pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(170)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(429)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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;background-color:#5AC4C4;border-color:Black;min-width:287.25pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(170)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(429)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Taxrecognizedintotalequity>
  <bbva:Deferredtaxassetsandliabilities id="ID_23" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:#02A5A5;' &gt;Deferred tax assets and liabilities. Annual variations (Millions of Euros)&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:#FFFFFF;' &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 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:8pt;font-weight:bold;color:#072146;' &gt;2019&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:8pt;font-weight:bold;color:#072146;' &gt;2018&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:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.9pt;' &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;font-weight:bold;color:#0A5FB4;' &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;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:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Deferred assets&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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Deferred liabilities&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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Deferred assets&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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Deferred liabilities&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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Deferred assets&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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Deferred liabilities&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;background-color:#5AC4C4;border-color:Black;min-width:171.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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;background-color:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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;tr style='height:11.45pt;' &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;Pensions&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;51&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;10&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;(795)&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;/tr&gt;&lt;tr style='height:11.45pt;' &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;Financials instruments&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;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;(122)&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;(52)&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;(291)&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;82&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;(367)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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;Other assets&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;(98)&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;(55)&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;(305)&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;/tr&gt;&lt;tr style='height:11.45pt;' &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;Loss allowances&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;261&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;370&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;(385)&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;/tr&gt;&lt;tr style='height:11.45pt;' &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;Others&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;(149)&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;120&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;153&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;(366)&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;(841)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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;Guaranteed tax assets&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;(70)&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;2&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;/tr&gt;&lt;tr style='height:11.45pt;' &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;Tax losses&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;(48)&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;268&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;101&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;/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;background-color:#5AC4C4;border-color:Black;min-width:171.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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;background-color:#5AC4C4;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;15,318&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:#5AC4C4;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,928&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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Deferredtaxassetsandliabilities>
  <bbva:Securedtaxassets id="ID_24" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:495.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:495.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:234.75pt;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:234.75pt;' &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:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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:#072146;' &gt;2019&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:#072146;' &gt;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:#072146;' &gt;2017 (*)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:234.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Pensions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;text-align:center;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;border-top-style:solid;border-top-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;1,924&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:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,924&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:Black;min-width:65.25pt;' &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:11.45pt;' &gt;&lt;td style='width:234.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loss allowances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;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;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;7,439&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;7,439&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;7,486&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:234.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:234.75pt;' &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:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:65.25pt;' &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: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:#5AC4C4;border-color:Black;min-width:65.25pt;' &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: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:#5AC4C4;border-color:Black;min-width:65.25pt;' &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: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:#5AC4C4;border-color:Black;min-width:65.25pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Securedtaxassets>
  <bbva:Tableoftaxassetsandliabiltiiesexplanatory id="ID_25" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:451.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:451.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Tax assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &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:240pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,765&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,163&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,318&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,725&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Pensions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;456&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;405&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;395&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,386&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,453&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;204&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;302&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:11.45pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Loss allowances &lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,636&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,005&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;841&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;990&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;870&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,433&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:240pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,432&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,212&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:240pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;17,083&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Tax liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &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:240pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;880&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,114&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,928&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,184&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,014&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,427&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:240pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;914&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;910&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:11.45pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:240pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,808&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableoftaxassetsandliabiltiiesexplanatory>
  <bbva:Financialassetsandliabilitiesheldfortrading id="ID_26" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:22.5pt;' &gt;&lt;td colspan='5' 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:8pt;color:#02A5A5;' &gt;Financial assets and liabilities held for trading (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#44546A;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#E7E6E6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#E7E6E6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#E7E6E6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33,185&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35,265&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.1.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,892&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,801&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;1,037&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;880&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;962&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other sectors&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;7,855&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;4,374&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;5,839&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.1.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,309&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,573&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Issued by central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;840&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;1,001&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;1,371&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Issued by public administrations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;23,918&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;22,950&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;19,344&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Issued by financial institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;679&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;790&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;816&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;872&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;836&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;1,041&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.1.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34,303&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:12.75pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Loans and advances to central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;535&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;2,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Reverse repurchase agreement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;535&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;2,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;21,286&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;14,566&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Reverse repurchase agreement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;21,219&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;13,305&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;12,482&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;12,021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Reverse repurchase agreement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;12,187&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;11,794&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:240pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;102,688&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#E7E6E6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#E7E6E6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#E7E6E6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35,019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36,169&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,249&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,013&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42,365&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;7,635&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;10,511&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;7,635&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;10,511&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;24,969&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;15,687&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;24,578&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;14,839&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;9,761&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;11,736&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;9,689&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;11,466&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:240pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;89,633&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Financialassetsandliabilitiesheldfortrading>
  <bbva:Tableofotherassetsandliabilitiesexplanatory id="ID_27" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:#02A5A5;' &gt;Other assets and liabilities: (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#44546A;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:left;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;Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &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:57.75pt;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:57.75pt;' &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:57.75pt;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:57.75pt;' &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:57.75pt;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:57.75pt;' &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:250.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Inventories&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;581&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;635&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &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:57.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;579&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;633&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;226&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &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:57.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;138&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;249&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;156&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accruals&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;804&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;702&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;768&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Prepaid expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;573&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;465&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;509&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &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:57.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;231&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;237&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;259&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &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:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,277&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,207&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:middle;background-color:#5AC4C4;border-color:Black;min-width:250.5pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,800&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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;/tr&gt;&lt;tr style='height:13.5pt;' &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:middle;border-color:Black;min-width:250.5pt;' &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:57.75pt;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:57.75pt;' &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:57.75pt;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:57.75pt;' &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:57.75pt;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:57.75pt;' &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:57.75pt;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:57.75pt;' &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:250.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;165&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accruals&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,490&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Accrued expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;2,064&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;2,119&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;1,997&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other accrued expense and deferred income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;392&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;439&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;493&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &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:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,247&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,894&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &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:middle;background-color:#5AC4C4;border-color:Black;min-width:250.5pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,742&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofotherassetsandliabilitiesexplanatory>
  <bbva:Disclosurenoncurrentassetsanddisposalgroupsclassifiedasheldforsalechangesintheyearexplanatory id="ID_28" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:521.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:521.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#02A5A5;' &gt;Non-current assets and disposal groups classified as held for sale. Changes in the year 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:109.5pt;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:109.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Foreclosed assets&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;From own use assets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;(*)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Other assets (**)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:31.15pt;' &gt;&lt;td style='width:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &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:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Foreclosed assets through auction proceeding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Recovered assets from financial leases&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Cost  (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &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:54.75pt;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:54.75pt;' &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:54.75pt;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:54.75pt;' &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:54.75pt;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:54.75pt;' &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:54.75pt;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:54.75pt;' &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:54.75pt;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:54.75pt;' &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:12pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:192.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:12pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Additions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;597&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;68&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,676&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,351&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Contributions from merger transactions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:7.9pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &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:54.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(967)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(56)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(206)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,229)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &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:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(214)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;65&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(131)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:192.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,553&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;95&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;258&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,716&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,622&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:6.75pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &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:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &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:12pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Impairment  (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &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:54.75pt;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:54.75pt;' &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:54.75pt;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:54.75pt;' &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:54.75pt;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:54.75pt;' &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:54.75pt;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:54.75pt;' &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:54.75pt;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:54.75pt;' &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:12pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:192.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;628&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Additions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;66&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;77&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &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:54.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(160)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(186)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &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:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:12pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:192.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;383&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;132&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;543&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:192.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,170&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;126&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,716&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,079&lt;/font&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='7' 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:6pt;color:#02A5A5;' &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: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: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:center;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' 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:#072146;' &gt;Foreclosed assets&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:46.5pt;border-top-style:solid;border-top-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:#072146;' &gt;From own use assets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;(*)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:46.5pt;border-top-style:solid;border-top-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:#072146;' &gt;Other assets (**)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:46.5pt;border-top-style:solid;border-top-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:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:198pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:198pt;' &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: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;font-weight:bold;color:#072146;' &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: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:#072146;' &gt;Foreclosed assets through auction proceeding&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:#072146;' &gt;Recovered assets from financial leases&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Cost  (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: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;/tr&gt;&lt;tr style='height:12pt;' &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:#5AC4C4;border-color:Black;min-width:198pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:198pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Additions &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: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-top-style:solid;border-top-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;637&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:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;55&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:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&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: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-top-style:solid;border-top-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;696&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &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:6pt;color:#000000;' &gt;Retirements (sales and other decreases)&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;&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;(4,354)&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;(135)&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;(227)&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;(18,594)&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;(23,310)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:198pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:198pt;' &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: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;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(195)&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;(4)&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;241&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 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;42&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:#5AC4C4;border-color:Black;min-width:198pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:198pt;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:198pt;' &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: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;color:#094FA4;' &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;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;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;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;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;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Impairment  (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: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;/tr&gt;&lt;tr style='height:12pt;' &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:#5AC4C4;border-color:Black;min-width:198pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:8.25pt;' &gt;&lt;td style='width:198pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Additions &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:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;50&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:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;195&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:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11&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:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&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: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-top-style:solid;border-top-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;208&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:6pt;color:#000000;' &gt;Retirements (sales and other decreases)&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;&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;(793)&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;(37)&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;(101)&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;(931)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:198pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:198pt;' &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: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;border-color:Black;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-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;(4)&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;29&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 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;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:#5AC4C4;border-color:Black;min-width:198pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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: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:#5AC4C4;border-color:Black;min-width:198pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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;table style='border-collapse:collapse;' &gt;&lt;tr style='height:16.5pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:489pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:489pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#02A5A5;' &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:12.75pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:187.5pt;' &gt;&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:#072146;' &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:#072146;' &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:#072146;' &gt;From own use assets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &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:#072146;' &gt;Other assets&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &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:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &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:6pt;font-weight:bold;color:#0A5FB4;' &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;font-weight:bold;color:#072146;' &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: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:#072146;' &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: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:#072146;' &gt;Recovered assets from financial leases&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:6pt;font-weight:bold;color:#004481;' &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:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:187.5pt;' &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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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: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: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:Black;min-width:50.25pt;' &gt;&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;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: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: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;border-top-style:solid;border-top-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;text-align:right;vertical-align:middle;border-color:Black;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:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &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: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: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:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:187.5pt;' &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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:187.5pt;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:187.5pt;' &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:middle;border-color:Black;min-width:50.25pt;' &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: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;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-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: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:6pt;font-weight:bold;color:#004481;' &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:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:187.5pt;' &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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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: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: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: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;border-top-style:solid;border-top-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;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:Black;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: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;border-top-style:solid;border-top-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;text-align: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;/tr&gt;&lt;tr style='height:12pt;' &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: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: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: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:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:187.5pt;' &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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:187.5pt;' &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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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;</bbva:Disclosurenoncurrentassetsanddisposalgroupsclassifiedasheldforsalechangesintheyearexplanatory>
  <bbva:Financialassetsatamortizedcostdebtsecuritiesbyrating id="ID_29" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:22.5pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:390.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:390.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Debt securities by rating&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;text-align:left;vertical-align:bottom;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:109.5pt;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:109.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:109.5pt;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:109.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:38.25pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Carrying amount&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;(Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Carrying amount&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;(Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;%&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;text-align:left;vertical-align:bottom;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;AAA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:13.5pt;' &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;AA+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,481&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16.7%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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;AA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:13.5pt;' &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;AA-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;713&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.8%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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: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;A+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;607&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:13.5pt;' &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;A&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,806&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43.2%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:13.5pt;' &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:9pt;color:#000000;' &gt;A-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;607&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18.8%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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;BBB+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,715&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42.7%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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;BBB&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;551&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.4%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:13.5pt;' &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;BBB-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,745&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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;BB+ or below&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,123&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13.2%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13.4%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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;Without rating&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,083&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.8%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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: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:middle;background-color:#5AC4C4;border-color:Black;min-width:171.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;38,877&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:TableLoansinterestratesensibilityandadvancestocustomers id="ID_30" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:24pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:430.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:430.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;&amp;#39;Interest sensitivity of outstanding loans and advances maturing in more than one year (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:91.5pt;' &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:12pt;' &gt;&lt;td style='width:156pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Domestic&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Foreign&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fixed rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55,920&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;68,915&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;124,835&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Variable rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;79,329&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;97,765&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;177,095&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:156pt;' &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:91.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;135,249&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;166,680&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;301,929&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:TableLoansinterestratesensibilityandadvancestocustomers>
  <bbva:Tabledebtsecuritiesatamortizedcost id="ID_31" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='9' rowspan='1' style='width:602.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:602.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Financial assets at amortized cost. (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-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;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:252pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:252pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:252pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:252pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:28.5pt;' &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;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:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Amortized      cost &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:8pt;font-weight:bold;color:#072146;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;gains&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:8pt;font-weight:bold;color:#072146;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;losses&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:8pt;font-weight:bold;color:#072146;' &gt;Fair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt; value &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:8pt;font-weight:bold;color:#072146;' &gt;Amortized      cost &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:8pt;font-weight:bold;color:#072146;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;gains&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:8pt;font-weight:bold;color:#072146;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;losses&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:8pt;font-weight:bold;color:#072146;' &gt;Fair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt; value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &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:#004481;' &gt;Domestic 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:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:8pt;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:8pt;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:8pt;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:8pt;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:8pt;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:8pt;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:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-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;Government and other government agencies&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:8pt;color:#000000;' &gt;12,755&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:8pt;color:#000000;' &gt;630&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:8pt;color:#000000;' &gt;(21)&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:8pt;color:#000000;' &gt;13,363&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:8pt;color:#000000;' &gt;10,953&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:8pt;color:#000000;' &gt;458&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:8pt;color:#000000;' &gt;(265)&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:8pt;color:#000000;' &gt;11,146&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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 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:8pt;color:#000000;' &gt;26&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:8pt;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:8pt;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:8pt;color:#000000;' &gt;26&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:8pt;color:#000000;' &gt;53&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:8pt;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:8pt;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:8pt;color:#000000;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Other issuers&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:8pt;color:#000000;' &gt;4,903&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:8pt;color:#000000;' &gt;38&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:8pt;color:#000000;' &gt;(10)&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:8pt;color:#000000;' &gt;4,931&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:8pt;color:#000000;' &gt;5,014&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:8pt;color:#000000;' &gt;41&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:8pt;color:#000000;' &gt;(25)&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:8pt;color:#000000;' &gt;5,030&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;background-color:#5AC4C4;border-color:Black;min-width:98.25pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;17,684&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:#5AC4C4;border-color:Black;min-width:63pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(31)&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;18,320&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16,019&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;499&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(290)&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16,228&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &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:#004481;' &gt;Foreign 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:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:8pt;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:8pt;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:8pt;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:8pt;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:8pt;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:8pt;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: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: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:#004481;' &gt;Mexico&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:8pt;font-weight:bold;color:#004481;' &gt;6,374&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:8pt;font-weight:bold;color:#004481;' &gt;168&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:8pt;font-weight:bold;color:#004481;' &gt;(18)&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:8pt;font-weight:bold;color:#004481;' &gt;6,525&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:8pt;font-weight:bold;color:#004481;' &gt;5,148&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:8pt;font-weight:bold;color:#004481;' &gt;10&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:8pt;font-weight:bold;color:#004481;' &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:8pt;font-weight:bold;color:#004481;' &gt;5,157&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33.75pt;' &gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-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;Government and other government agencies debt securities&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:8pt;color:#000000;' &gt;5,576&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:8pt;color:#000000;' &gt;166&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:8pt;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;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,742&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:8pt;color:#000000;' &gt;4,571&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:8pt;color:#000000;' &gt;9&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:8pt;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;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,579&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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 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:8pt;color:#000000;' &gt;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:8pt;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:8pt;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:8pt;color:#000000;' &gt;529&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:8pt;color:#000000;' &gt;350&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:8pt;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:8pt;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:8pt;color:#000000;' &gt;351&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Other issuers&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:8pt;color:#000000;' &gt;272&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;(18)&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:8pt;color:#000000;' &gt;254&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:8pt;color:#000000;' &gt;227&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;227&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:#004481;' &gt;The United States&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:8pt;font-weight:bold;color:#004481;' &gt;6,125&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:8pt;font-weight:bold;color:#004481;' &gt;111&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:8pt;font-weight:bold;color:#004481;' &gt;(20)&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:8pt;font-weight:bold;color:#004481;' &gt;6,217&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:8pt;font-weight:bold;color:#004481;' &gt;2,559&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:8pt;font-weight:bold;color:#004481;' &gt;15&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:8pt;font-weight:bold;color:#004481;' &gt;(3)&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:8pt;font-weight:bold;color:#004481;' &gt;2,570&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-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;Government securities &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:8pt;color:#000000;' &gt;5,690&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:8pt;color:#000000;' &gt;111&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:8pt;color:#000000;' &gt;(18)&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:8pt;color:#000000;' &gt;5,783&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:8pt;color:#000000;' &gt;2,070&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:8pt;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;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,070&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &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:#808080;' &gt;Treasury and other government agencies&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:8pt;color:#808080;' &gt;1,161&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:8pt;color:#808080;' &gt;50&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:8pt;color:#808080;' &gt;(17)&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:8pt;color:#808080;' &gt;1,193&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:8pt;color:#808080;' &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:8pt;color:#808080;' &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:8pt;color:#808080;' &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:8pt;color:#808080;' &gt;118&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &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:#808080;' &gt;States and political subdivisions &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:8pt;color:#808080;' &gt;4,530&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:8pt;color:#808080;' &gt;61&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:8pt;color:#808080;' &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:8pt;color:#808080;' &gt;4,590&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:8pt;color:#808080;' &gt;1,952&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:8pt;color:#808080;' &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:8pt;color:#808080;' &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:8pt;color:#808080;' &gt;1,952&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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 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:8pt;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:8pt;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:8pt;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:8pt;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:8pt;color:#000000;' &gt;23&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:8pt;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:8pt;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:8pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Other issuers&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:8pt;color:#000000;' &gt;410&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;(1)&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:8pt;color:#000000;' &gt;409&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:8pt;color:#000000;' &gt;466&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:8pt;color:#000000;' &gt;6&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:8pt;color:#000000;' &gt;(1)&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:8pt;color:#000000;' &gt;470&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:#004481;' &gt;Turkey&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:8pt;font-weight:bold;color:#004481;' &gt;4,113&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:8pt;font-weight:bold;color:#004481;' &gt;48&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:8pt;font-weight:bold;color:#004481;' &gt;(65)&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:8pt;font-weight:bold;color:#004481;' &gt;4,097&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:8pt;font-weight:bold;color:#004481;' &gt;4,062&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:8pt;font-weight:bold;color:#004481;' &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:8pt;font-weight:bold;color:#004481;' &gt;(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;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;3,801&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33.75pt;' &gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-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;Government and other government agencies debt securities&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:8pt;color:#000000;' &gt;4,105&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:8pt;color:#000000;' &gt;47&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:8pt;color:#000000;' &gt;(65)&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:8pt;color:#000000;' &gt;4,088&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:8pt;color:#000000;' &gt;4,054&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:8pt;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;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(261)&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:8pt;color:#000000;' &gt;3,793&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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 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:8pt;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:8pt;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:8pt;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:8pt;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:8pt;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:8pt;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:8pt;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:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Other issuers&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:8pt;color:#000000;' &gt;1&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;1&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:8pt;color:#000000;' &gt;1&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:#004481;' &gt;Other countries&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:8pt;font-weight:bold;color:#004481;' &gt;4,581&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:8pt;font-weight:bold;color:#004481;' &gt;82&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:8pt;font-weight:bold;color:#004481;' &gt;(26)&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:8pt;font-weight:bold;color:#004481;' &gt;4,637&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:8pt;font-weight:bold;color:#004481;' &gt;4,741&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:8pt;font-weight:bold;color:#004481;' &gt;32&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:8pt;font-weight:bold;color:#004481;' &gt;(152)&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:8pt;font-weight:bold;color:#004481;' &gt;4,622&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:45pt;' &gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-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;Other foreign governments and other government agency debt securities&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:8pt;color:#000000;' &gt;3,400&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:8pt;color:#000000;' &gt;82&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:8pt;color:#000000;' &gt;(22)&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:8pt;color:#000000;' &gt;3,459&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:8pt;color:#000000;' &gt;3,366&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:8pt;color:#000000;' &gt;27&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:8pt;color:#000000;' &gt;(152)&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:8pt;color:#000000;' &gt;3,242&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Central banks&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:8pt;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:8pt;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:8pt;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:8pt;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:8pt;color:#000000;' &gt;64&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:8pt;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:8pt;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:8pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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 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:8pt;color:#000000;' &gt;135&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:8pt;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:8pt;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:8pt;color:#000000;' &gt;135&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:8pt;color:#000000;' &gt;147&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:8pt;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:8pt;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:8pt;color:#000000;' &gt;147&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Other issuers&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:8pt;color:#000000;' &gt;1,047&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;(4)&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:8pt;color:#000000;' &gt;1,043&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:8pt;color:#000000;' &gt;1,164&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:8pt;color:#000000;' &gt;5&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;1,169&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;background-color:#5AC4C4;border-color:Black;min-width:98.25pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;21,194&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:#5AC4C4;border-color:Black;min-width:63pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(129)&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;21,476&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16,510&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;57&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(416)&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16,150&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;background-color:#5AC4C4;border-color:Black;min-width:98.25pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;38,877&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,077&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(160)&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;39,796&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:#5AC4C4;border-color:Black;min-width:63pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;556&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(706)&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;32,378&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tabledebtsecuritiesatamortizedcost>
  <ifrs-full:DisclosureOfLoansAndAdvancesToCustomersExplanatory id="ID_32" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:513pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:513pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Loans and advances to customers (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#44546A;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:68.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,050&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &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:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,560&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:68.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,354&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &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:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,835&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:68.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17,276&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &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:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,705&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:68.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &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:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &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:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,642&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Reverse repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,554&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:68.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;332,160&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &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:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;313,336&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,784&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &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:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,989&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:240pt;' &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:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &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:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;382,360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &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:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfLoansAndAdvancesToCustomersExplanatory>
  <bbva:Securitizedloans id="ID_33" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:8pt;color:#02A5A5;' &gt;Securitized loans (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:245.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:245.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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:#072146;' &gt;2019&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:#072146;' &gt;2018&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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:245.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:245.25pt;' &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: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;26,169&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;26,556&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;28,950&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:245.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:245.25pt;' &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: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;4,249&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;3,221&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;4,143&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:245.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:245.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total securitized assets&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;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;30,418&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;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &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:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Securitizedloans>
  <bbva:Tableoffinancialassetsatamortisedcost id="ID_34" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:23.1pt;' &gt;&lt;td style='width:287.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Financial assets at amortized cost (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.1pt;' &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:#44546A;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;38,877&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;32,530&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;24,093&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:287.25pt;border-top-style:solid;border-top-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;color:#000000;' &gt;Government&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;31,526&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;25,014&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;17,030&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:61.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;719&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;644&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;1,152&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:287.25pt;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;color:#000000;' &gt;Other sectors &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;6,632&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;6,872&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;5,911&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Loans and advances to central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;4,275&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;3,941&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;7,300&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;13,649&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;9,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;26,261&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:287.25pt;border-top-style:solid;border-top-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;color:#000000;' &gt;Reverse repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;1,817&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;478&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;13,861&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:287.25pt;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;color:#000000;' &gt;Other loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;11,832&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;8,685&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;12,400&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;382,360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;374,027&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;387,621&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:287.25pt;border-top-style:solid;border-top-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;color:#000000;' &gt;Government&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,222&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31,645&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:61.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,207&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18,173&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:61.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;166,789&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;164,510&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;176,142&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;173,293&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:middle;background-color:#5AC4C4;border-color:Black;min-width:287.25pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;439,162&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:287.25pt;border-top-style:solid;border-top-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-style:italic;color:#666666;' &gt;Of which: impaired assets of loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;15,954&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;16,349&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;19,390&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: loss allowances of loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;(12,427)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;(12,217)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;(12,784)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: loss allowances of debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;(52)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;(51)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableoffinancialassetsatamortisedcost>
  <bbva:Disclosureoffinancialassetsatfairvaluethroughothercomprehensiveincomeexplanatory id="ID_35" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:23.25pt;' &gt;&lt;td colspan='5' 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:#02A5A5;' &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:234.75pt;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:234.75pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:234.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234.75pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.1.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,420&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,488&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:234.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Loss allowances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;(1,264)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.35pt;' &gt;&lt;td style='width:234.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:234.75pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,420&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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;tr style='height:14.25pt;' &gt;&lt;td style='width:234.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234.75pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.1.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;58,841&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;66,273&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:234.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Loss allowances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;(110)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:234.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:234.75pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;58,731&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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;tr style='height:14.25pt;' &gt;&lt;td style='width:234.75pt;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:234.75pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.1.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &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:234.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:234.75pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;61,183&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureoffinancialassetsatfairvaluethroughothercomprehensiveincomeexplanatory>
  <bbva:Financialassetsatfairvaluethroughothercomprehensiveincomedebtsecuritiesbyrating id="ID_36" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:22.5pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:498.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:498.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Debt securities by rating&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:129.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:123pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:123pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:123pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:123pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:123pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:123pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33.75pt;' &gt;&lt;td style='width:129.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Fair value&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;(Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Fair value&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;(Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Fair value&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;(Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:129.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;AAA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,669&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.2%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;531&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;687&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,279&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12.4%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16.2%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;317&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;222&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;507&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:13.5pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;265&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;409&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;291&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:13.5pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.7%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;632&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;664&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,895&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;687&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;683&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;A-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,947&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18.6%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,946&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16.9%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;53.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,966&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.1%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,927&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.3%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.4%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,712&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.4%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:129.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &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:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;441&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;445&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:13.5pt;' &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:#5AC4C4;border-color:Black;min-width:129.75pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;58,731&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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>
  <bbva:Financialassetsatfairvaluethroughothercomprehensiveincomeequityinstruments id="ID_37" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:23.25pt;' &gt;&lt;td colspan='9' rowspan='1' style='width:519pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:519pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;Financial assets at fair value through other comprehensive income. Equity instruments. (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:111pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:204pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:204pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:111pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &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: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:7pt;font-weight:bold;color:#003366;' &gt;Amortized cost&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:7pt;font-weight:bold;color:#003366;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;gains&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:7pt;font-weight:bold;color:#003366;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;losses&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:7pt;font-weight:bold;color:#003366;' &gt;Fair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt; 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:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;Amortized cost&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:7pt;font-weight:bold;color:#003366;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;gains&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:7pt;font-weight:bold;color:#003366;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;losses&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:7pt;font-weight:bold;color:#003366;' &gt;Fair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt; value &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Equity instruments &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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spanish companies shares&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:7pt;color:#000000;' &gt;2,181&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:7pt;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:7pt;color:#000000;' &gt;(507)&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:7pt;color:#000000;' &gt;1,674&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:7pt;color:#000000;' &gt;2,172&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:7pt;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:7pt;color:#000000;' &gt;(210)&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:7pt;color:#000000;' &gt;1,962&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Foreign companies shares&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:7pt;color:#000000;' &gt;136&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:7pt;color:#000000;' &gt;87&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:7pt;color:#000000;' &gt;(11)&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:7pt;color:#000000;' &gt;213&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:7pt;color:#000000;' &gt;90&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:7pt;color:#000000;' &gt;43&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:7pt;color:#000000;' &gt;(12)&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:7pt;color:#000000;' &gt;121&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;The United States&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:7pt;color:#000000;' &gt;30&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:7pt;color:#000000;' &gt;47&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:7pt;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:7pt;color:#000000;' &gt;78&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:7pt;color:#000000;' &gt;20&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:7pt;color:#000000;' &gt;17&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:7pt;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:7pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Mexico&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:7pt;color:#000000;' &gt;1&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:7pt;color:#000000;' &gt;33&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:7pt;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:7pt;color:#000000;' &gt;34&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:7pt;color:#000000;' &gt;1&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:7pt;color:#000000;' &gt;25&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:7pt;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:7pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Turkey&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:7pt;color:#000000;' &gt;3&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:7pt;color:#000000;' &gt;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:7pt;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:7pt;color:#000000;' &gt;5&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:7pt;color:#000000;' &gt;3&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:7pt;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:7pt;color:#000000;' &gt;(1)&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:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &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: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:7pt;color:#000000;' &gt;102&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:7pt;color:#000000;' &gt;5&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:7pt;color:#000000;' &gt;(11)&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:7pt;color:#000000;' &gt;96&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:7pt;color:#000000;' &gt;66&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:7pt;color:#000000;' &gt;1&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:7pt;color:#000000;' &gt;(11)&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:7pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal equity instruments listed&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;2,317&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;87&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(518)&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,886&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;2,262&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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(222)&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;2,083&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Equity instruments&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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spanish companies shares&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:7pt;color:#000000;' &gt;5&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:7pt;color:#000000;' &gt;1&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:7pt;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:7pt;color:#000000;' &gt;5&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:7pt;color:#000000;' &gt;6&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:7pt;color:#000000;' &gt;1&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:7pt;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:7pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Foreign companies shares &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:7pt;color:#000000;' &gt;450&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:7pt;color:#000000;' &gt;79&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:7pt;color:#000000;' &gt;(1)&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:7pt;color:#000000;' &gt;528&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:7pt;color:#000000;' &gt;453&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:7pt;color:#000000;' &gt;54&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:7pt;color:#000000;' &gt;(1)&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:7pt;color:#000000;' &gt;506&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;The United States&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:7pt;color:#000000;' &gt;387&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:7pt;color:#000000;' &gt;32&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:7pt;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:7pt;color:#000000;' &gt;419&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:7pt;color:#000000;' &gt;388&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:7pt;color:#000000;' &gt;23&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:7pt;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:7pt;color:#000000;' &gt;411&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Turkey&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:7pt;color:#000000;' &gt;5&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:7pt;color:#000000;' &gt;4&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:7pt;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:7pt;color:#000000;' &gt;9&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:7pt;color:#000000;' &gt;6&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:7pt;color:#000000;' &gt;4&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:7pt;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:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &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: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:7pt;color:#000000;' &gt;57&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:7pt;color:#000000;' &gt;43&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:7pt;color:#000000;' &gt;(1)&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:7pt;color:#000000;' &gt;99&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:7pt;color:#000000;' &gt;59&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:7pt;color:#000000;' &gt;27&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:7pt;color:#000000;' &gt;(1)&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:7pt;color:#000000;' &gt;85&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal unlisted equity instruments&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;454&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;80&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(1)&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;533&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;459&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;55&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(1)&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;513&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:111pt;' &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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;2,772&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;167&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(519)&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;2,420&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;2,721&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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(223)&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:22.5pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:490.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#F2F2F2;border-color:Black;min-width:490.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Available-for-sale financial assets. Equity instruments. December 2017 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &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:8pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;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:63.75pt;' &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:63.75pt;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:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;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:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;gains&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;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:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;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:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Fair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;value &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:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Equity instruments listed&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;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:63.75pt;' &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:63.75pt;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:63.75pt;' &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:63.75pt;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:63.75pt;' &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:63.75pt;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:63.75pt;' &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:63.75pt;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:63.75pt;' &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: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;Spanish companies shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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: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;Foreign companies shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;215&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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: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:#808080;' &gt;United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:13.5pt;' &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:#808080;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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: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:#808080;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:13.5pt;' &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:#808080;' &gt;Other countries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;192&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal equity instruments listed&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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: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:8pt;font-weight:bold;color:#004481;' &gt;Unlisted equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;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:63.75pt;' &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:63.75pt;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:63.75pt;' &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:63.75pt;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:63.75pt;' &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:63.75pt;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:63.75pt;' &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:63.75pt;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:63.75pt;' &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: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;Spanish companies shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:15pt;' &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;Foreign companies shares &lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;665&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;77&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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: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:#808080;' &gt;United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;498&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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: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:#808080;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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: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:#808080;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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: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:#808080;' &gt;Other countries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;151&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal unlisted equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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: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:middle;background-color:#5AC4C4;border-color:Black;min-width:171.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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;</bbva:Financialassetsatfairvaluethroughothercomprehensiveincomeequityinstruments>
  <bbva:Accumulatedothercomprehensiveincomeitemsthatmaybereclassifiedtoprofitorlossavailableforsalefinancialassets id="ID_38" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:506.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:top;background-color:#E9E9E9;border-color:Black;min-width:506.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Other comprehensive income - Changes in gains / losses (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:213.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:117pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:117pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Debt securities &lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:117pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:117pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:213.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;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:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;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:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;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:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;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:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:213.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:213.75pt;' &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:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &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:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;943&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &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;td style='width:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(155)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &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:12.75pt;' &gt;&lt;td style='width:213.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:58.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(58)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &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:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:58.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,267&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(640)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(238)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &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:12.75pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:58.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(119)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(137)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:58.5pt;' &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:12.75pt;' &gt;&lt;td style='width:213.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(331)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;221&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &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:12.75pt;' &gt;&lt;td style='width:213.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:213.75pt;' &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:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &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:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,760&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;943&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(403)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &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;</bbva:Accumulatedothercomprehensiveincomeitemsthatmaybereclassifiedtoprofitorlossavailableforsalefinancialassets>
  <bbva:Disclosureofcarryingvalueandfairvalueexplanatory id="ID_39" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:474pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:474pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &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:219pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;font-weight:bold;color:#072146;' &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:right;vertical-align:middle;border-color:Black;min-width:102pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2019&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:right;vertical-align:middle;border-color:Black;min-width:102pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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: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:7pt;font-weight:bold;color:#072146;' &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:7pt;font-weight:bold;color:#072146;' &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:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Fair value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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: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:7pt;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:right;vertical-align:middle;border-color:Black;min-width:51pt;' &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: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:7pt;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:right;vertical-align:middle;border-color:Black;min-width:51pt;' &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: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:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17.25pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:219pt;' &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: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:7pt;color:#000000;' &gt;9&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:7pt;color:#000000;' &gt;44,303&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:7pt;color:#000000;' &gt;44,303&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:7pt;color:#000000;' &gt;58,196&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: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:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&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:7pt;color:#000000;' &gt;102,688&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:7pt;color:#000000;' &gt;102,688&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:7pt;color:#000000;' &gt;90,117&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: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:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&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:7pt;color:#000000;' &gt;5,557&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:7pt;color:#000000;' &gt;5,557&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:7pt;color:#000000;' &gt;5,135&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: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:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&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:7pt;color:#000000;' &gt;1,214&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:7pt;color:#000000;' &gt;1,214&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:7pt;color:#000000;' &gt;1,313&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: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:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&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:7pt;color:#000000;' &gt;61,183&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:7pt;color:#000000;' &gt;61,183&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:7pt;color:#000000;' &gt;56,337&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: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:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14&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:7pt;color:#000000;' &gt;439,162&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:7pt;color:#000000;' &gt;442,788&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:7pt;color:#000000;' &gt;419,660&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: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:219pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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: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:7pt;color:#000000;' &gt;15&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:7pt;color:#000000;' &gt;1,729&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:7pt;color:#000000;' &gt;1,729&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:7pt;color:#000000;' &gt;2,892&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: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:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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: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:7pt;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:right;vertical-align:middle;border-color:Black;min-width:51pt;' &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: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:7pt;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:right;vertical-align:middle;border-color:Black;min-width:51pt;' &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: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:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:219pt;' &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: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:7pt;color:#000000;' &gt;10&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:7pt;color:#000000;' &gt;89,633&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:7pt;color:#000000;' &gt;89,633&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:7pt;color:#000000;' &gt;80,774&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: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:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&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:7pt;color:#000000;' &gt;10,010&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:7pt;color:#000000;' &gt;10,010&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:7pt;color:#000000;' &gt;6,993&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: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:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;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:7pt;color:#000000;' &gt;516,641&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:7pt;color:#000000;' &gt;515,910&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:7pt;color:#000000;' &gt;509,185&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: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:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15&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:7pt;color:#000000;' &gt;2,233&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:7pt;color:#000000;' &gt;2,233&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:7pt;color:#000000;' &gt;2,680&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: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='4' rowspan='1' style='width:488.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:488.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &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: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:7pt;color:#000000;' &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:7pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:130.5pt;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:130.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:292.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:292.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#0A5FB4;' &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:center;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Notes&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:7pt;font-weight:bold;color:#072146;' &gt;Carrying amount&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:7pt;font-weight:bold;color:#072146;' &gt;Fair value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &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:left;vertical-align:middle;border-color:Black;min-width:292.5pt;' &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: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:7pt;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:7pt;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:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17.25pt;' &gt;&lt;td style='width:292.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:292.5pt;' &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: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:7pt;color:#000000;' &gt;9&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:7pt;color:#000000;' &gt;42,680&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:7pt;color:#000000;' &gt;42,680&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:292.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:292.5pt;' &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:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &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:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;64,695&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:292.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:292.5pt;' &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:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &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:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,709&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:292.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:292.5pt;' &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:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;69,476&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:7pt;color:#000000;' &gt;69,476&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:292.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:292.5pt;' &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:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;431,521&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:7pt;color:#000000;' &gt;438,991&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:292.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:292.5pt;' &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:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;13,754&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:7pt;color:#000000;' &gt;13,865&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:292.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:292.5pt;' &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: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:7pt;color:#000000;' &gt;15&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:7pt;color:#000000;' &gt;2,485&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:7pt;color:#000000;' &gt;2,485&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &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:left;vertical-align:middle;border-color:Black;min-width:292.5pt;' &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:65.25pt;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:65.25pt;' &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: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:7pt;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:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:292.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:292.5pt;' &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: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:7pt;color:#000000;' &gt;10&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:7pt;color:#000000;' &gt;46,182&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:7pt;color:#000000;' &gt;46,182&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:292.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:292.5pt;' &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:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &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:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,222&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:292.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:292.5pt;' &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:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &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:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;544,604&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:292.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:292.5pt;' &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:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &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:65.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,880&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofcarryingvalueandfairvalueexplanatory>
  <bbva:Disclosureofreconciliationofchangesinfairvaluemeasurementassetsexplanatory id="ID_40" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:473.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:473.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Financial assets Level 3: Changes in the year (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:203.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:203.25pt;' &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: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:8pt;font-weight:bold;color:#072146;' &gt;2019&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:8pt;font-weight:bold;color:#072146;' &gt;2018&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:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:203.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;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:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Assets&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:8pt;font-weight:bold;color:#072146;' &gt;Liabilities&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:8pt;font-weight:bold;color:#072146;' &gt;Assets&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:8pt;font-weight:bold;color:#072146;' &gt;Liabilities&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:8pt;font-weight:bold;color:#072146;' &gt;Assets&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:8pt;font-weight:bold;color:#072146;' &gt;Liabilities&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:203.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:203.25pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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;tr style='height:21pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &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: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;112&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;(167)&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;(95)&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;(24)&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;(21)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &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: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;2&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;-&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;(45)&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;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &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: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;5&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;595&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;2,102&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;2,710&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;32&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;320&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &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: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;77&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;(2,751)&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;761&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;47&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;106&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;(39)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:203.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &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: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;31&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;189&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;(55)&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;(250)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:203.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:203.25pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,753&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:#5AC4C4;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;865&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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofreconciliationofchangesinfairvaluemeasurementassetsexplanatory>
  <bbva:Disclosureoftransfersbetweenlevelsassetsexplanatory id="ID_41" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:6pt;color:#02A5A5;' &gt;Transfer between Levels. December 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;From:&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:94.5pt;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:94.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 1&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:94.5pt;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:94.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 2&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:94.5pt;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:94.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:156pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;To:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 1 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:12.75pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:156pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;74&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,119&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;502&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;160&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;44&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:16.5pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;209&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;454&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:156pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:156pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;79&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,145&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;739&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;667&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:156pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:16.5pt;' &gt;&lt;td style='width:156pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,679&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:156pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2,804&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureoftransfersbetweenlevelsassetsexplanatory>
  <bbva:Tableofsignficantunobservableinputsusedinfairvaluemeasurementofassetsexplanatory id="ID_42" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:145.5pt;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:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Financial instrument&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Valuation technique(s)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Significant unobservable inputs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Min&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Average&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Max&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Units&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:145.5pt;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:145.5pt;' &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:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Present value method&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Repo funding curve&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &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:12pt;' &gt;&lt;td colspan='1' rowspan='3' style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &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:73.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;504&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28.38%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:18.75pt;' &gt;&lt;td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.01%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;98.31%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;135.94%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:14.25pt;' &gt;&lt;td colspan='1' rowspan='2' style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &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:73.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:73.5pt;' &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:294pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:294pt;' &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:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:73.5pt;' &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:15pt;' &gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:top;border-color:Black;min-width:145.5pt;' &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:73.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19.37%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44.33%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;61.08%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:15.75pt;' &gt;&lt;td colspan='1' rowspan='3' style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &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:73.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Heston&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35.12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35.12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35.12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:294pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:294pt;' &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:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Volatility&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23.21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;60.90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:145.5pt;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:145.5pt;' &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:73.5pt;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:73.5pt;' &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:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Volatility&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.70&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10.05&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &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:145.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Interest rate options&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:73.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Beta&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.00&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:15.75pt;' &gt;&lt;td style='width:73.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(100)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:15pt;' &gt;&lt;td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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;</bbva:Tableofsignficantunobservableinputsusedinfairvaluemeasurementofassetsexplanatory>
  <bbva:Disclosureofmainvaluationtechniquesfinancialinstrumentsassetsexplanatory id="ID_43" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:692.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:692.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Fair Value of financial Instruments at amortized cost by valuation technique. December 2019 (Millions of Euros)&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;text-align:left;vertical-align:bottom;border-color:Black;min-width:140.25pt;' &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:138pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Level 2&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:138pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:138pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Valuation technique(s)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:138pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Main inputs used&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:140.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;/tr&gt;&lt;tr style='height:12pt;' &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:#072146;' &gt;ASSETS &lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &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:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &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:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &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:22.5pt;' &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;border-color:Black;min-width:140.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Financial assets at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;217,279&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;196,119&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='5' style='width:138pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:138pt;' &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:138pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:138pt;' &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:33.75pt;' &gt;&lt;td style='width:140.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:140.25pt;' &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:138pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:left;vertical-align:middle;border-color:Black;min-width:138pt;' &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:33.75pt;' &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;Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,049&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,628&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:left;vertical-align:middle;border-color:Black;min-width:138pt;' &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:33.75pt;' &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;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;194,897&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;190,144&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:left;vertical-align:middle;border-color:Black;min-width:138pt;' &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:22.5pt;' &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;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,333&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,345&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:138pt;' &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:12pt;' &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:#072146;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &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:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &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:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:138pt;' &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:22.5pt;' &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;border-color:Black;min-width:140.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Financial liabilities at amortized cost &lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;289,599&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;159,082&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:138pt;' &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:140.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:140.25pt;' &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:138pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='5' style='width:138pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:138pt;' &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 colspan='1' rowspan='5' style='width:138pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:138pt;' &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: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;Deposits from credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21,575&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,831&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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;Deposits from customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;245,720&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;135,514&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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;Debt certificates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &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: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;Other financial liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,981&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,604&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofmainvaluationtechniquesfinancialinstrumentsassetsexplanatory>
  <bbva:Profitlossfromcontinuingoperationsattributabletoordinaryequityholdersofparentcompany id="ID_44" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">3512000000</bbva:Profitlossfromcontinuingoperationsattributabletoordinaryequityholdersofparentcompany>
  <bbva:Profitlossfromcontinuingoperationsattributabletoordinaryequityholdersofparentcompany id="ID_45" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">5400000000</bbva:Profitlossfromcontinuingoperationsattributabletoordinaryequityholdersofparentcompany>
  <bbva:Profitlossfromcontinuingoperationsattributabletoordinaryequityholdersofparentcompany id="ID_46" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="INF">3514000000</bbva:Profitlossfromcontinuingoperationsattributabletoordinaryequityholdersofparentcompany>
  <bbva:Adjustmentadditionaltier1securities id="ID_47" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">-419000000</bbva:Adjustmentadditionaltier1securities>
  <bbva:Adjustmentadditionaltier1securities id="ID_48" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">-447000000</bbva:Adjustmentadditionaltier1securities>
  <bbva:Adjustmentadditionaltier1securities id="ID_49" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="INF">-430000000</bbva:Adjustmentadditionaltier1securities>
  <ifrs-full:ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects id="ID_50" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">3093000000</ifrs-full:ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects>
  <ifrs-full:ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects id="ID_51" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">4953000000</ifrs-full:ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects>
  <ifrs-full:ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects id="ID_52" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="INF">3084000000</ifrs-full:ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects>
  <ifrs-full:ProfitLossFromDiscontinuedOperations id="ID_53" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">0</ifrs-full:ProfitLossFromDiscontinuedOperations>
  <ifrs-full:ProfitLossFromDiscontinuedOperations id="ID_54" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">0</ifrs-full:ProfitLossFromDiscontinuedOperations>
  <ifrs-full:ProfitLossFromDiscontinuedOperations id="ID_55" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="INF">0</ifrs-full:ProfitLossFromDiscontinuedOperations>
  <ifrs-full:WeightedAverageShares id="ID_56" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="shares" decimals="INF">6668000000</ifrs-full:WeightedAverageShares>
  <ifrs-full:WeightedAverageShares id="ID_57" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="shares" decimals="INF">6668000000</ifrs-full:WeightedAverageShares>
  <ifrs-full:WeightedAverageShares id="ID_58" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180" unitRef="shares" decimals="INF">6642000000</ifrs-full:WeightedAverageShares>
  <ifrs-full:AdjustedWeightedAverageShares id="ID_59" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="shares" decimals="INF">6648000000</ifrs-full:AdjustedWeightedAverageShares>
  <ifrs-full:AdjustedWeightedAverageShares id="ID_60" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="shares" decimals="INF">6636000000</ifrs-full:AdjustedWeightedAverageShares>
  <ifrs-full:AdjustedWeightedAverageShares id="ID_61" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180" unitRef="shares" decimals="INF">6642000000</ifrs-full:AdjustedWeightedAverageShares>
  <bbva:Adjustedweightedaveragesharesdilutedeps id="ID_62" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">6648000000</bbva:Adjustedweightedaveragesharesdilutedeps>
  <bbva:Adjustedweightedaveragesharesdilutedeps id="ID_63" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">6636000000</bbva:Adjustedweightedaveragesharesdilutedeps>
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  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_260" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAPlusRatingMember" unitRef="EUR" decimals="INF">0</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_261" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsARatingMember" unitRef="EUR" decimals="INF">16806000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_262" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAMinusRatingMember" unitRef="EUR" decimals="INF">607000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_263" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBPlusRatingMember" unitRef="EUR" decimals="INF">3715000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_264" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBRatingMember" unitRef="EUR" decimals="INF">551000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_265" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBMinusRatingMember" unitRef="EUR" decimals="INF">3745000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_266" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBPlusRatingMember" unitRef="EUR" decimals="INF">5123000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_267" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_bbva_WithoutratingMember" unitRef="EUR" decimals="INF">1083000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_268" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_bbva_TotalexposuresMember" unitRef="EUR" decimals="INF">38877000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_269" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAARatingMember" unitRef="pure" decimals="INF">0.001</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_270" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAPlusRatingMember" unitRef="pure" decimals="INF">0.167</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_271" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAARatingMember" unitRef="pure" decimals="INF">0</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_272" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAMinusRatingMember" unitRef="pure" decimals="INF">0.018</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_273" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAPlusRatingMember" unitRef="pure" decimals="INF">0</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_274" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsARatingMember" unitRef="pure" decimals="INF">0.432</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_275" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAMinusRatingMember" unitRef="pure" decimals="INF">0.016</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_276" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBPlusRatingMember" unitRef="pure" decimals="INF">0.096</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_277" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBRatingMember" unitRef="pure" decimals="INF">0.014</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_278" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBMinusRatingMember" unitRef="pure" decimals="INF">0.096</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_279" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBPlusRatingMember" unitRef="pure" decimals="INF">0.132</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_280" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_bbva_WithoutratingMember" unitRef="pure" decimals="INF">0.028</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_281" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_bbva_TotalexposuresMember" unitRef="pure" decimals="INF">1</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_282" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAARatingMember" unitRef="EUR" decimals="INF">49000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_283" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAPlusRatingMember" unitRef="EUR" decimals="INF">1969000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_284" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAARatingMember" unitRef="EUR" decimals="INF">62000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_285" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAMinusRatingMember" unitRef="EUR" decimals="INF">0</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_286" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAPlusRatingMember" unitRef="EUR" decimals="INF">607000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_287" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsARatingMember" unitRef="EUR" decimals="INF">21000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_288" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAMinusRatingMember" unitRef="EUR" decimals="INF">6117000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_289" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBPlusRatingMember" unitRef="EUR" decimals="INF">13894000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_290" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBRatingMember" unitRef="EUR" decimals="INF">1623000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_291" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBMinusRatingMember" unitRef="EUR" decimals="INF">2694000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_292" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBPlusRatingMember" unitRef="EUR" decimals="INF">4371000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_293" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_bbva_WithoutratingMember" unitRef="EUR" decimals="INF">1123000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_294" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_bbva_TotalexposuresMember" unitRef="EUR" decimals="INF">32530000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_295" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAARatingMember" unitRef="pure" decimals="INF">0.002</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_296" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAPlusRatingMember" unitRef="pure" decimals="INF">0.061</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_297" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAARatingMember" unitRef="pure" decimals="INF">0.002</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_298" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAMinusRatingMember" unitRef="pure" decimals="INF">0</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_299" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAPlusRatingMember" unitRef="pure" decimals="INF">0.019</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_300" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsARatingMember" unitRef="pure" decimals="INF">0.001</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_301" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAMinusRatingMember" unitRef="pure" decimals="INF">0.188</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_302" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBPlusRatingMember" unitRef="pure" decimals="INF">0.427</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_303" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBRatingMember" unitRef="pure" decimals="INF">0.05</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_304" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBMinusRatingMember" unitRef="pure" decimals="INF">0.083</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_305" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBPlusRatingMember" unitRef="pure" decimals="INF">0.134</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_306" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_bbva_WithoutratingMember" unitRef="pure" decimals="INF">0.035</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_307" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_bbva_TotalexposuresMember" unitRef="pure" decimals="INF">1</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_308" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAARatingMember" unitRef="EUR" decimals="INF">0</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_309" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAPlusRatingMember" unitRef="EUR" decimals="INF">0</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_310" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAARatingMember" unitRef="EUR" decimals="INF">41000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_311" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAMinusRatingMember" unitRef="EUR" decimals="INF">0</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_312" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAPlusRatingMember" unitRef="EUR" decimals="INF">55000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_313" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsARatingMember" unitRef="EUR" decimals="INF">0</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_314" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAMinusRatingMember" unitRef="EUR" decimals="INF">0</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_315" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBPlusRatingMember" unitRef="EUR" decimals="INF">5667000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_316" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBRatingMember" unitRef="EUR" decimals="INF">2412000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_317" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBMinusRatingMember" unitRef="EUR" decimals="INF">2818000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_318" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBPlusRatingMember" unitRef="EUR" decimals="INF">1696000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_319" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_bbva_WithoutratingMember" unitRef="EUR" decimals="INF">1064000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Subtotaldebtinstrumentsatamortizedcost id="ID_320" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_bbva_TotalexposuresMember" unitRef="EUR" decimals="INF">13754000000</bbva:Subtotaldebtinstrumentsatamortizedcost>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_321" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAARatingMember" unitRef="pure" decimals="INF">0</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_322" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAPlusRatingMember" unitRef="pure" decimals="INF">0</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_323" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAARatingMember" unitRef="pure" decimals="INF">0.003</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_324" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAAMinusRatingMember" unitRef="pure" decimals="INF">0</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_325" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAPlusRatingMember" unitRef="pure" decimals="INF">0.004</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_326" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsARatingMember" unitRef="pure" decimals="INF">0</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_327" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsAMinusRatingMember" unitRef="pure" decimals="INF">0</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_328" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBPlusRatingMember" unitRef="pure" decimals="INF">0.412</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_329" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBRatingMember" unitRef="pure" decimals="INF">0.175</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_330" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBBMinusRatingMember" unitRef="pure" decimals="INF">0.205</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_331" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_srt_StandardPoorsBBPlusRatingMember" unitRef="pure" decimals="INF">0.123</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_332" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_bbva_WithoutratingMember" unitRef="pure" decimals="INF">0.077</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating id="ID_333" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_BreakdownofdebtsecuritiesbycreditratingAxis_bbva_TotalexposuresMember" unitRef="pure" decimals="INF">1</bbva:Percentageamortizedcostfinancialassetsdebtsecuritiesbyrating>
  <bbva:Othersecuritizedassets id="ID_334" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">4249000000</bbva:Othersecuritizedassets>
  <bbva:Totalsecuritizedassetsloans id="ID_335" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">30418000000</bbva:Totalsecuritizedassetsloans>
  <bbva:Securitizedmortgageassets id="ID_336" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">26556000000</bbva:Securitizedmortgageassets>
  <bbva:Othersecuritizedassets id="ID_337" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">3221000000</bbva:Othersecuritizedassets>
  <bbva:Totalsecuritizedassetsloans id="ID_338" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">29777000000</bbva:Totalsecuritizedassetsloans>
  <bbva:Securitizedmortgageassets id="ID_339" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="INF">28950000000</bbva:Securitizedmortgageassets>
  <bbva:Othersecuritizedassets id="ID_340" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="INF">4143000000</bbva:Othersecuritizedassets>
  <bbva:Totalsecuritizedassetsloans id="ID_341" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="INF">33093000000</bbva:Totalsecuritizedassetsloans>
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  <bbva:Probabilityofdefault id="ID_922" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:9pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:491.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:491.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;Probability of default (basis points)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &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:7pt;font-weight:bold;color:#072146;' &gt;December 2019&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:7pt;font-weight:bold;color:#072146;' &gt;December 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27.75pt;' &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:7pt;color:#072146;' &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:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Subject to 12 month ECL (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6.8pt;font-weight:bold;font-style:italic;color:#072146;' &gt;Stage&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt; 1)&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:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Subject to lifetime ECL (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6.8pt;font-weight:bold;font-style:italic;color:#072146;' &gt;Stage&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt; 2)&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:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Subject to 12 month ECL (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;font-style:italic;color:#072146;' &gt;Stage&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt; 1)&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:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Subject to lifetime ECL &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;(&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;font-style:italic;color:#072146;' &gt;Stage&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt; 2)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0 to 2&lt;/font&gt;&lt;/td&gt;&lt;td 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:7pt;color:#000000;' &gt;5.5 &lt;/font&gt;&lt;/td&gt;&lt;td 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:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td 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:7pt;color:#000000;' &gt;9.6 &lt;/font&gt;&lt;/td&gt;&lt;td 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:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:98.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2 to 5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6.3 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10.8 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.1 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:98.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5 to 11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14.6 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.2 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6.3 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &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:98.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11 to 39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;24.5 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.8 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;20.9 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.4 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:98.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;39 to 194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;24.5 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.6 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;30.1 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.8 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:98.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;194 to 1,061&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14.0 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3.6 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12.2 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3.6 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:98.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,061 to 2,121&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.4 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.2 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.6 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.2 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&amp;gt; 2,121&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.4 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.5 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.2 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.2 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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;background-color:#5AC4C4;border-color:Black;min-width:98.25pt;' &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:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;91.0 &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:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;9.0 &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:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;91.7 &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:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;8.3 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Probabilityofdefault>
  <bbva:Bbvaabridgedratingscale id="ID_923" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:24.75pt;' &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:center;vertical-align:middle;border-color:Black;min-width:129.75pt;' &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: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;Internal rating&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:258.75pt;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:258.75pt;' &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;(basic points)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &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:center;vertical-align:middle;border-color:Black;min-width:129.75pt;' &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: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;Reduced List (22 groups)&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;Average&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;Minimum from &amp;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;Maximum &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:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AAA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-top-style:solid;border-top-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;color:#000000;' &gt;AAA&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;1&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;0&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;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA+&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&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&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&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA&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&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&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;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA-&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;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;5&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A+&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&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&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;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A&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;8&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;9&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A-&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;10&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;9&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;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB+&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;14&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;17&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB&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&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&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;24&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB-&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;24&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;39&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BB+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BB+&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;51&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;39&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;67&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BB&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BB&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;88&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;67&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;116&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BB-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BB-&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;150&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;116&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;194&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;B+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;B+&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;255&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;194&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;335&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;B&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;B&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;335&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;581&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;B-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;B-&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;785&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;581&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;1,061&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CCC+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CCC+&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;1,191&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;1,061&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;1,336&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CCC&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CCC&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;1,500&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;1,336&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;1,684&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CCC-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CCC-&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;1,890&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;1,684&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;2,121&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CC+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CC+&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;2,381&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;2,121&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;2,673&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CC&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CC&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;3,000&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;2,673&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;3,367&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CC-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CC-&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;3,780&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;3,367&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;4,243&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Bbvaabridgedratingscale>
  <bbva:Sensitivityanalysistointerestrate id="ID_924" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:459.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:459.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Sensitivity to interest-rate analysis - December 2019&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;text-align:center;vertical-align:bottom;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:144pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:144pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Impact on net interest income (*)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:144pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:144pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Impact on economic value (**)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:171.75pt;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:#FFFFFF;' &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:8pt;font-weight:bold;color:#072146;' &gt;100 basis-point increase&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:8pt;font-weight:bold;color:#072146;' &gt;100 basis-point decrease&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:8pt;font-weight:bold;color:#072146;' &gt;100 basis-point increase&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:8pt;font-weight:bold;color:#072146;' &gt;100 basis-point decrease&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;Europe (***)&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:8pt;color:#000000;' &gt;+ (5% - 10%)&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:8pt;color:#000000;' &gt;- (0% - 5%)&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:8pt;color:#000000;' &gt;+ (0% - 5%)&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: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: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;Mexico&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:8pt;color:#000000;' &gt;+ (0% - 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:8pt;color:#000000;' &gt;- (0% - 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:8pt;color:#000000;' &gt;+ (0% - 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: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: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;The United States&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:8pt;color:#000000;' &gt;+ (5% - 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:8pt;color:#000000;' &gt;- (5% - 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:8pt;color:#000000;' &gt;- (5% - 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: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: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;Turkey&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:8pt;color:#000000;' &gt;+ (0% - 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:8pt;color:#000000;' &gt;- (0% - 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:8pt;color:#000000;' &gt;- (0% - 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: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: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:8pt;color:#000000;' &gt;South America&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:8pt;color:#000000;' &gt;+ (0% - 5%)&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:8pt;color:#000000;' &gt;- (0% - 5%)&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:8pt;color:#000000;' &gt;- (0% - 5%)&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: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: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:#5AC4C4;border-color:Black;min-width:171.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:72pt;' &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: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:#5AC4C4;border-color:Black;min-width:72pt;' &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: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:#5AC4C4;border-color:Black;min-width:72pt;' &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: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:#5AC4C4;border-color:Black;min-width:72pt;' &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;</bbva:Sensitivityanalysistointerestrate>
  <bbva:Ltsscdbylmu id="ID_925" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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:465.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:465.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;LtSCD by LMU&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &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:110.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;December 2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;December 2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;December 2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:135pt;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:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Group (average)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;108%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;106%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;110%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Eurozone&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;108%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;101%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &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:135pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;114%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &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:13.15pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA USA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;111%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;119%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &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:13.15pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Garanti BBVA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;99%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;110%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &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:13.15pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:135pt;' &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:110.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;103%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;99%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;108%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Ltsscdbylmu>
  <bbva:Liquidityavailablebyinstrumentandsubsidiaries id="ID_926" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:489.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:489.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &gt;&lt;td style='width:208.5pt;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:208.5pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-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:#072146;' &gt;BBVA Eurozone&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: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:#072146;' &gt;BBVA Mexico&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: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:#072146;' &gt;BBVA USA&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: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:#072146;' &gt;Garanti BBVA&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: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:#072146;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:208.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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:56.25pt;border-top-style:solid;border-top-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;14,516&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,246&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,949&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,450&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,368&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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: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;41,961&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;7,295&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;11,337&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;7,953&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;3,593&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.95pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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: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;403&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;316&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;344&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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.95pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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: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;5,196&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;219&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;-&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&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.95pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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: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;22,213&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;1,269&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;952&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;669&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;586&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.95pt;' &gt;&lt;td style='width:208.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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: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;-&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;-&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;2,935&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;-&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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.95pt;' &gt;&lt;td style='width:208.5pt;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:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Cumulated counterbalancing capacity&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:#004481;' &gt;84,288&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:#004481;' &gt;15,344&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:#004481;' &gt;20,516&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:#004481;' &gt;15,072&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:#004481;' &gt;10,559&lt;/font&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:489.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:489.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2018 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30pt;' &gt;&lt;td style='width:208.5pt;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:208.5pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-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:#072146;' &gt;BBVA Eurozone&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: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:#072146;' &gt;BBVA Mexico&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: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:#072146;' &gt;BBVA USA&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: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:#072146;' &gt;Garanti BBVA&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: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:#072146;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:208.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &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:56.25pt;border-top-style:solid;border-top-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;26,506&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:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-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;1,667&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:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-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;6,677&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &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: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;29,938&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;4,995&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;10,490&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;6,502&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;3,652&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &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: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;449&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;409&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;510&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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &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: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;4,040&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;33&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;-&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;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &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: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;8,772&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;1,372&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;1,043&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;499&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;617&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:208.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &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: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;-&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;-&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;2,314&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;-&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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:208.5pt;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:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Cumulated counterbalancing capacity&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:#004481;' &gt;69,705&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:#004481;' &gt;14,475&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:#004481;' &gt;16,024&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:#004481;' &gt;14,634&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:#004481;' &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:12.75pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:495pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:495pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2017 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &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:center;vertical-align:middle;border-color:Black;min-width:187.5pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;BBVA Eurozone (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;BBVA Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;BBVA USA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Garanti BBVA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:187.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:12.75pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:187.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:12.75pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:187.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;386&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;418&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;753&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:12.75pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:187.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;69&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:12.75pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:187.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,192&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,703&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,252&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;962&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,573&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:187.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:187.5pt;' &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:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,800&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:12.75pt;' &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:bottom;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Cumulated counterbalancing capacity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;70,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;14,644&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;15,983&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;13,359&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;13,828&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Liquidityavailablebyinstrumentandsubsidiaries>
  <bbva:Effectofcompensation id="ID_927" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:544.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:544.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27.75pt;' &gt;&lt;td style='width:166.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:108pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:108pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Gross amounts not offset in the consolidated balance sheets (D)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:66pt;' &gt;&lt;td style='width:166.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:166.5pt;' &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:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Gross amounts recognized (A)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Gross amounts offset in the consolidated balance sheets (B)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Net amount presented in the consolidated balance sheets (C=A-B)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Financial instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Cash collateral received/ pledged&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:166.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Trading and hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10, 15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37,302&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,388&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34,914&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25,973&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,210&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;731&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:19.5pt;' &gt;&lt;td style='width:166.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Reverse repurchase, securities borrowing and similar agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35,805&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35,784&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35,618&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;204&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &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:166.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:166.5pt;' &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:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &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:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;73,107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,409&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;70,698&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;61,591&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,415&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;692&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:166.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Trading and hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10, 15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39,646&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,394&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37,252&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25,973&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,613&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &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:19.5pt;' &gt;&lt;td style='width:166.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Repurchase, securities lending and similar agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45,977&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45,956&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45,239&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;420&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;297&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:166.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:166.5pt;' &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:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &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:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;85,623&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,414&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;83,209&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;71,212&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;11,033&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;964&lt;/font&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:507.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:507.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:166.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:97.5pt;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:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Gross Amounts Not Offset in the Consolidated Balance Sheets (D)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:72pt;' &gt;&lt;td style='width:166.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Gross amounts recognized (A)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Gross amounts offset in the consolidated balance sheets (B)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Net amount presented in the consolidated balance sheets (C=A-B)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Financial instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Cash collateral received/ pledged&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:166.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Trading and hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10, 15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;49,908&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,480&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33,428&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25,024&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,790&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;613&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:166.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Reverse repurchase, securities borrowing and similar agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,074&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,032&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,022&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;169&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:9pt;' &gt;&lt;td style='width:166.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:166.5pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;77,982&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16,522&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;61,460&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;53,046&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,959&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;454&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:166.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Trading and hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10, 15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;51,596&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17,101&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34,494&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25,024&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,788&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,682&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21.75pt;' &gt;&lt;td style='width:166.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Repurchase, securities lending and similar agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43,035&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42,993&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42,877&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:11.25pt;' &gt;&lt;td style='width:166.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:166.5pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;94,631&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;17,143&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;77,487&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;67,901&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,822&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:507.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:507.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2017 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:39pt;' &gt;&lt;td style='width:166.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:97.5pt;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:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Gross Amounts Not Offset in the Consolidated Balance Sheets (D)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:60pt;' &gt;&lt;td style='width:166.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:166.5pt;' &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:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Gross amounts recognized (A)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Gross amounts offset in the consolidated balance sheets (B)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Net amount presented in the consolidated balance sheets (C=A-B)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Financial instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Cash collateral received/ pledged&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:166.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Trading and hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10, 15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;49,333&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,584&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37,749&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27,106&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,202&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:19.5pt;' &gt;&lt;td style='width:166.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Reverse repurchase, securities borrowing and similar agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,426&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,369&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,612&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;141&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(384)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:166.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:166.5pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;75,759&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;11,641&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;64,118&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;53,717&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,583&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,818&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:166.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Trading and hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10, 15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50,693&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,644&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39,049&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27,106&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,328&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,615&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:19.5pt;' &gt;&lt;td style='width:166.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Repurchase, securities lending and similar agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40,134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40,078&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40,158&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(101)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:166.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:166.5pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;90,827&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;11,701&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;79,126&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;67,264&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,349&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,514&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Effectofcompensation>
  <bbva:Varbyriskfactor id="ID_928" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:504pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:504pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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: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:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Interest/Spread risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Currency risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Stock-market risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Vega/Correlation risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Diversification effect(*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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:bottom;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;December 2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &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:12.75pt;' &gt;&lt;td style='width:103.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:103.5pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:103.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:103.5pt;' &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:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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:12.75pt;' &gt;&lt;td style='width:103.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:103.5pt;' &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:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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:12.75pt;' &gt;&lt;td style='width:103.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;End of period VaR&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &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:bottom;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;December 2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:103.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:103.5pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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:103.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:103.5pt;' &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:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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:103.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:103.5pt;' &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:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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:103.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;End of period VaR&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &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:bottom;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;December 2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:103.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:103.5pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(23)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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:103.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:103.5pt;' &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:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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:103.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:103.5pt;' &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:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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:103.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;End of period VaR&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Varbyriskfactor>
  <bbva:Headingsofbalancesheetundermarketrisk id="ID_929" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:472.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:472.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#02A5A5;' &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:166.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &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='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:6pt;font-weight:bold;color:#072146;' &gt;December 2019&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:6pt;font-weight:bold;color:#072146;' &gt;December 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:6pt;font-weight:bold;color:#072146;' &gt;December 2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:166.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:166.5pt;' &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: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:6pt;font-weight:bold;color:#072146;' &gt;Main market risk metrics - VaR&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:6pt;font-weight:bold;color:#072146;' &gt;Main market risk metrics - &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Others (*)&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:6pt;font-weight:bold;color:#072146;' &gt;Main market risk metrics - VaR&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:6pt;font-weight:bold;color:#072146;' &gt;Main market risk metrics - &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Others (*)&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:6pt;font-weight:bold;color:#072146;' &gt;Main market risk metrics - VaR&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:6pt;font-weight:bold;color:#072146;' &gt;Main market risk metrics - &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Others (*)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:166.5pt;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:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Assets subject to market risk&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:6pt;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;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:166.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &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: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:6pt;color:#000000;' &gt;96,461&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:6pt;color:#000000;' &gt;1,671&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:6pt;color:#000000;' &gt;114,156&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:6pt;color:#000000;' &gt;124&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:6pt;color:#000000;' &gt;59,008&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:6pt;color:#000000;' &gt;441&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.25pt;' &gt;&lt;td style='width:166.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &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:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7,089&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:6pt;color:#000000;' &gt;24,691&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:6pt;color:#000000;' &gt;5,652&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:6pt;color:#000000;' &gt;19,125&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:6pt;color:#000000;' &gt;5,661&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:6pt;color:#000000;' &gt;24,083&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:166.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;Of which: Equity instruments&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:6pt;font-style:italic;color:#666666;' &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:6pt;font-style:italic;color:#666666;' &gt;1,783&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:6pt;font-style:italic;color:#666666;' &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:6pt;font-style:italic;color:#666666;' &gt;2,046&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:6pt;font-style:italic;color:#666666;' &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:6pt;font-style:italic;color:#666666;' &gt;2,404&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:166.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Derivatives - Hedge accounting&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:6pt;color:#000000;' &gt;628&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:6pt;color:#000000;' &gt;840&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:6pt;color:#000000;' &gt;688&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:6pt;color:#000000;' &gt;1,061&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:6pt;color:#000000;' &gt;829&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:6pt;color:#000000;' &gt;1,397&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:166.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &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: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:6pt;color:#000000;' &gt;74,967&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:6pt;color:#000000;' &gt;12,677&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:6pt;color:#000000;' &gt;67,859&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:6pt;color:#000000;' &gt;11,011&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:6pt;color:#000000;' &gt;42,468&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:6pt;color:#000000;' &gt;2,526&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:166.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Derivatives - Hedge accounting&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:6pt;color:#000000;' &gt;671&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:6pt;color:#000000;' &gt;1,183&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:6pt;color:#000000;' &gt;550&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:6pt;color:#000000;' &gt;910&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:6pt;color:#000000;' &gt;1,157&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:6pt;color:#000000;' &gt;638&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Headingsofbalancesheetundermarketrisk>
  <bbva:Tableofencumberedassets id="ID_930" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:480.75pt;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:#02A5A5;' &gt;December 2019 (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-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:10pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:154.5pt;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:154.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:154.5pt;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:154.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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:#FFFFFF;' &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:#072146;' &gt;Book value &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:#072146;' &gt;Market value&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:#072146;' &gt;Book value &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:#072146;' &gt;Market value &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:#004481;' &gt;Assets&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;101,792&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;596,898&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;/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: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;3,526&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;3,526&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;12,113&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;12,113&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: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;29,630&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;29,567&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;95,611&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;95,611&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: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;68,636&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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;489,174&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:77.25pt;' &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;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:486pt;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:#02A5A5;' &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:177pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:154.5pt;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:154.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:154.5pt;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:154.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Non-encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:29.25pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:177pt;' &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: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:#072146;' &gt;Book value &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:#072146;' &gt;Market value&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:#072146;' &gt;Book value &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:#072146;' &gt;Market value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:177pt;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:177pt;' &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: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;107,950&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;&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;567,573&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:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:177pt;' &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: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;1,864&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;1,864&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;6,485&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;6,485&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:177pt;' &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: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;31,157&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;32,216&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;82,209&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;82,209&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:177pt;' &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: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;74,928&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#A7A7A7;' &gt;-&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;478,880&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#A7A7A7;' &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:486pt;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:#02A5A5;' &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:177pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:154.5pt;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:154.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:154.5pt;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:154.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Non-encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25.5pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:177pt;' &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: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:#072146;' &gt;Book value&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:#072146;' &gt;Market value&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:#072146;' &gt;Book value&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:#072146;' &gt;Market value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:177pt;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:177pt;' &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: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;110,600&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;579,459&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;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:177pt;' &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: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;2,297&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;2,297&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;9,616&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;9,616&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:177pt;' &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: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;28,700&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;29,798&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;84,391&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;84,391&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:177pt;' &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: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;79,604&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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;485,451&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:77.25pt;' &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;</bbva:Tableofencumberedassets>
  <bbva:Collateralreceived id="ID_931" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:8pt;color:#02A5A5;' &gt;December 2019. 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:208.5pt;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:208.5pt;' &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:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Fair value of encumbered collateral received or own debt securities issued&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:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Fair value of collateral received or own debt securities issued available for encumbrance&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:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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:208.5pt;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:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Collateral received&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:right;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;38,496&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:right;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;9,208&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:right;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;48&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:208.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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: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:8pt;color:#000000;' &gt;65&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:8pt;color:#000000;' &gt;70&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:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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:93pt;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38,431&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,130&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &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:12pt;' &gt;&lt;td style='width:208.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;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 style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &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:208.5pt;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:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Own debt securities issued other than own covered bonds or ABSs&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:right;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;-&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:right;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;82&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:right;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;-&lt;/font&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: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:8pt;color:#02A5A5;' &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:208.5pt;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:208.5pt;' &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:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Fair value of encumbered collateral received or own debt securities issued&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:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Fair value of collateral received or own debt securities issued available for encumbrance&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:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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:208.5pt;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:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Collateral received&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:right;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;27,474&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:right;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;5,633&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:right;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;319&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:208.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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: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:8pt;color:#000000;' &gt;89&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:8pt;color:#000000;' &gt;82&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:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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:93pt;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &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:93pt;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &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:93pt;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &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:208.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;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 style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &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:208.5pt;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:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Own debt securities issued other than own covered bonds or ABSs&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:right;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;78&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:right;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;87&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:right;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;-&lt;/font&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: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:8pt;color:#02A5A5;' &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:208.5pt;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:208.5pt;' &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:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Fair value of encumbered collateral received or own debt securities issued&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:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Fair value of collateral received or own debt securities issued available for encumbrance&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:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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:208.5pt;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:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Collateral received&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:right;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;23,881&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:right;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;9,630&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:right;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;201&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:208.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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: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:8pt;color:#000000;' &gt;103&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:8pt;color:#000000;' &gt;5&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:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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:93pt;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &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:93pt;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &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:93pt;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &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:208.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;63&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &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:208.5pt;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:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Own debt securities issued other than own covered bonds or ABSs&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:right;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;3&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:right;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;161&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:right;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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Collateralreceived>
  <bbva:Loansandadvancesbreakdownbycounterparty id="ID_932" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:9pt;' &gt;&lt;td colspan='9' rowspan='1' style='width:750pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:750pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#02A5A5;' &gt;December 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &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;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Households&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Gross carrying amount&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:198pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#808080;' &gt;By product&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;color:#000000;' &gt;On demand and short notice&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;118&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;2,328&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;595&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;3,050&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;3,251&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;color:#000000;' &gt;Credit card debt&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1,940&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;14,401&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;16,355&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;17,608&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;color:#000000;' &gt;Commercial debtors&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;971&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;230&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;15,976&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;99&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;17,276&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;17,617&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;color:#000000;' &gt;Finance leases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;227&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;8,091&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;387&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;8,711&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;9,095&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;color:#000000;' &gt;Reverse repurchase loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1,817&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1,843&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1,848&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;color:#000000;' &gt;Other term loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;4,240&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;26,734&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;4,121&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;7,795&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;137,934&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;160,223&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;341,047&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;351,230&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;color:#000000;' &gt;Advances that are not loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;865&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;7,743&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;3,056&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;951&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;506&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;13,156&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;13,214&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:#5AC4C4;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;LOANS AND ADVANCES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;4,275&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;28,816&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;13,682&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;11,208&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;167,246&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;176,211&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;401,438&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;413,863&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:198pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#808080;' &gt;By secured loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;font-style:italic;color:#808080;' &gt;Of which: mortgage loans collateralized by immovable property&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1,067&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;261&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;23,575&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;111,085&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;136,003&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;139,317&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;font-style:italic;color:#808080;' &gt;Of which: other collateralized loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;10,447&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;93&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;2,106&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;29,009&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;6,893&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;48,548&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;49,266&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;color:#808080;' &gt;By purpose of the loan&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;font-style:italic;color:#808080;' &gt;Of which: credit for consumption&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;46,356&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;46,356&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;49,474&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;font-style:italic;color:#808080;' &gt;Of which: lending for house purchase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;110,178&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;110,178&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;111,636&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;color:#808080;' &gt;By subordination&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;font-style:italic;color:#808080;' &gt;Of which: project finance loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;12,259&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;12,259&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;12,415&lt;/font&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:755.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:755.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#02A5A5;' &gt;December 2018 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:29.25pt;' &gt;&lt;td style='width:203.25pt;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:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Households&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Gross carrying amount&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:203.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#808080;' &gt;By product&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;On demand and short notice&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;151&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;2,833&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;648&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;3,641&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;3,834&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Credit card debt&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;2,328&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;13,108&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;15,446&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;16,495&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Commercial debtors&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;948&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;195&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;16,190&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;103&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;17,436&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;17,716&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Finance leases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;226&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;8,014&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;406&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;8,650&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;9,077&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Reverse repurchase loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;293&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;477&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;770&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;772&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Other term loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;3,911&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;26,839&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;2,947&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;7,030&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;133,573&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;157,760&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;332,060&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;342,264&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:203.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Advances that are not loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1,592&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;5,771&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;2,088&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;984&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;498&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;10,962&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;11,025&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:203.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;LOANS AND ADVANCES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;3,941&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;29,917&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;9,196&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;9,468&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;163,922&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;172,522&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;388,966&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;401,183&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:203.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#808080;' &gt;By secured loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#808080;' &gt;Of which: mortgage loans collateralized by immovable property&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;1,056&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;219&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;26,784&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;111,809&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;139,883&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;144,005&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#808080;' &gt;Of which: other collateralized loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;7,179&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;1,389&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;31,393&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;6,835&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;47,081&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;47,855&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#808080;' &gt;By purpose of the loan&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#808080;' &gt;Of which: credit for consumption&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;40,124&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;40,124&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;42,736&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#808080;' &gt;Of which: lending for house purchase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;111,007&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;111,007&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;112,952&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#808080;' &gt;By subordination&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#808080;' &gt;Of which: project finance loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;13,973&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;13,973&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &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:712.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:712.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#02A5A5;' &gt;December 2017 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30pt;' &gt;&lt;td style='width:208.5pt;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:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Central banks&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:5pt;font-weight:bold;color:#072146;' &gt;General governments&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:5pt;font-weight:bold;color:#072146;' &gt;Credit institutions&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:5pt;font-weight:bold;color:#072146;' &gt;Other financial corporations&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:5pt;font-weight:bold;color:#072146;' &gt;Non-financial corporations&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:5pt;font-weight:bold;color:#072146;' &gt;Households&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:5pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:208.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;On demand and short notice&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:5pt;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:5pt;color:#000000;' &gt;222&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:5pt;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:5pt;color:#000000;' &gt;270&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:5pt;color:#000000;' &gt;7,663&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:5pt;color:#000000;' &gt;2,405&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:5pt;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:208.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Credit card debt&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:5pt;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:5pt;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:5pt;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:5pt;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:5pt;color:#000000;' &gt;1,862&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:5pt;color:#000000;' &gt;13,964&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:5pt;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:208.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Trade receivables&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:5pt;color:#000000;' &gt;1,624&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:5pt;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:5pt;color:#000000;' &gt;497&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:5pt;color:#000000;' &gt;20,385&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:5pt;color:#000000;' &gt;198&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:5pt;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:208.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Finance leases&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:5pt;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:5pt;color:#000000;' &gt;205&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:5pt;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:5pt;color:#000000;' &gt;36&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:5pt;color:#000000;' &gt;8,040&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:5pt;color:#000000;' &gt;361&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:5pt;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:208.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Reverse repurchase loans&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:5pt;color:#000000;' &gt;305&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:5pt;color:#000000;' &gt;1,290&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:5pt;color:#000000;' &gt;13,793&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:5pt;color:#000000;' &gt;10,912&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:5pt;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:5pt;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:5pt;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:208.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Other term loans&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:5pt;color:#000000;' &gt;6,993&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:5pt;color:#000000;' &gt;26,983&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:5pt;color:#000000;' &gt;4,463&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:5pt;color:#000000;' &gt;5,763&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:5pt;color:#000000;' &gt;125,228&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:5pt;color:#000000;' &gt;155,418&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:5pt;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:208.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Advances that are not loans&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:5pt;color:#000000;' &gt;2&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:5pt;color:#000000;' &gt;1,964&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:5pt;color:#000000;' &gt;8,005&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:5pt;color:#000000;' &gt;1,044&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:5pt;color:#000000;' &gt;1,459&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:5pt;color:#000000;' &gt;522&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:5pt;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:208.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &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;background-color:#5AC4C4;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;7,301&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:#5AC4C4;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;32,294&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:#5AC4C4;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;26,261&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:#5AC4C4;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;18,525&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:#5AC4C4;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;164,637&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:#5AC4C4;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;172,868&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:#5AC4C4;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:208.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:72pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &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:5pt;font-style:italic;color:#666666;' &gt;998&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:5pt;font-style:italic;color:#666666;' &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:5pt;font-style:italic;color:#666666;' &gt;308&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:5pt;font-style:italic;color:#666666;' &gt;37,353&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:5pt;font-style:italic;color:#666666;' &gt;116,938&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:5pt;font-style:italic;color:#666666;' &gt;155,597&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#808080;' &gt;Of which: other collateralized loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &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:5pt;font-style:italic;color:#666666;' &gt;7,167&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:5pt;font-style:italic;color:#666666;' &gt;13,501&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:5pt;font-style:italic;color:#666666;' &gt;12,907&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:5pt;font-style:italic;color:#666666;' &gt;24,100&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:5pt;font-style:italic;color:#666666;' &gt;9,092&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:5pt;font-style:italic;color:#666666;' &gt;66,767&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#808080;' &gt;Of which: credit for consumption&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &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:5pt;font-style:italic;color:#666666;' &gt;40,705&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:5pt;font-style:italic;color:#666666;' &gt;40,705&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#808080;' &gt;Of which: lending for house purchase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &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:5pt;font-style:italic;color:#666666;' &gt;114,709&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:5pt;font-style:italic;color:#666666;' &gt;114,709&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#808080;' &gt;Of which: project finance loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &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:5pt;font-style:italic;color:#666666;' &gt;16,412&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &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:5pt;font-style:italic;color:#666666;' &gt;16,412&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Loansandadvancesbreakdownbycounterparty>
  <bbva:Hedgingderivativesbreakdownbytypeoftheriskandtypeofhedge id="ID_933" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:24pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:477.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:477.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#5AC4C4;' &gt;Derivatives - Hedge accounting 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:12.6pt;' &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:10pt;color:#000000;' &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;2019&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;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;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;&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;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:#004481;' &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:#004481;' &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:#004481;' &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:#004481;' &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:#004481;' &gt;Liabilities&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Interest rate&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;920&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;488&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;982&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;513&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;1,141&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;850&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;OTC &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;920&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;488&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;982&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;513&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;1,141&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;850&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Equity&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;-&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;3&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;6&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;-&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;-&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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;OTC &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;3&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;6&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;-&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;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Foreign exchange and gold&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;420&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;316&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;587&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;398&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;625&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;511&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;OTC&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;420&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;316&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;587&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;398&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;625&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;511&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;FAIR VALUE HEDGES&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;1,341&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;808&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;1,575&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;912&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;1,766&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;1,362&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Interest rate&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;224&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;850&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;221&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;562&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;244&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;533&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;OTC &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;224&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;839&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;219&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;562&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;242&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;533&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Organized market&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;11&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&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;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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Foreign exchange and gold&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;115&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;18&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;955&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;873&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;119&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;714&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;OTC &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;115&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&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;955&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;873&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;119&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;714&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;CASH FLOW HEDGES&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;339&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;868&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;1,176&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;1,435&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;363&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;1,247&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;HEDGE OF NET INVESTMENTS IN A FOREIGN OPERATION&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;12&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;242&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;92&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;231&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;301&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;15&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:left;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;PORTFOLIO FAIR VALUE HEDGES OF INTEREST RATE RISK&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;37&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;216&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;33&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;90&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;46&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;256&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27.75pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;PORTFOLIO CASH FLOW HEDGES OF INTEREST RATE RISK&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;1&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;99&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;15&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;12&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;9&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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17.25pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;DERIVATIVES-HEDGE ACCOUNTING&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;1,729&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;2,233&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;2,892&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;2,680&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;2,485&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;2,880&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;font-style:italic;color:#666666;' &gt;of which: OTC - credit institutions&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;font-style:italic;color:#000000;' &gt;1,423&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;font-style:italic;color:#000000;' &gt;1,787&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;font-style:italic;color:#000000;' &gt;2,534&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;font-style:italic;color:#000000;' &gt;2,462&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;font-style:italic;color:#000000;' &gt;1,829&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;font-style:italic;color:#000000;' &gt;2,527&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &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;font-style:italic;color:#666666;' &gt;of which: OTC - other financial corporations&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;font-style:italic;color:#000000;' &gt;306&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;font-style:italic;color:#000000;' &gt;426&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;font-style:italic;color:#000000;' &gt;355&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;font-style:italic;color:#000000;' &gt;216&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;font-style:italic;color:#000000;' &gt;651&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;font-style:italic;color:#000000;' &gt;234&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;font-style:italic;color:#666666;' &gt;of which: OTC - other&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;font-style:italic;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;font-style:italic;color:#000000;' &gt;8&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;font-style:italic;color:#000000;' &gt;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;font-style:italic;color:#000000;' &gt;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;font-style:italic;color:#000000;' &gt;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;font-style:italic;color:#000000;' &gt;120&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Hedgingderivativesbreakdownbytypeoftheriskandtypeofhedge>
  <bbva:Tableoffinancialliabilitiesatamortizedcostexplanatory id="ID_934" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:429.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:429.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Financial liabilities measured 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:198pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:198pt;' &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: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:#072146;' &gt;2019&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:#072146;' &gt;2018&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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#000000;' &gt;Deposits&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;438,919&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;435,229&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;467,949&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#000000;' &gt;Deposits from central banks&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;25,950&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;27,281&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;37,054&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#666666;' &gt;Demand deposits&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:#666666;' &gt;23&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:#666666;' &gt;20&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:#666666;' &gt;2,588&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#666666;' &gt;Time deposits&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:#666666;' &gt;25,101&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:#666666;' &gt;26,885&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:#666666;' &gt;28,311&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#666666;' &gt;Repurchase agreements&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:#666666;' &gt;826&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:#666666;' &gt;375&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:#666666;' &gt;6,155&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#000000;' &gt;Deposits from credit institutions&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;28,751&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;31,978&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;54,516&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#666666;' &gt;Demand deposits&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:#666666;' &gt;7,161&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:#666666;' &gt;8,370&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:#666666;' &gt;3,731&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#666666;' &gt;Time deposits&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:#666666;' &gt;18,896&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:#666666;' &gt;19,015&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:#666666;' &gt;25,941&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#666666;' &gt;Repurchase agreements&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:#666666;' &gt;2,693&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:#666666;' &gt;4,593&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:#666666;' &gt;24,843&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#000000;' &gt;Customer deposits&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;384,219&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;375,970&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;376,379&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#666666;' &gt;Demand deposits&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:#666666;' &gt;280,391&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:#666666;' &gt;260,573&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:#666666;' &gt;240,583&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#666666;' &gt;Time deposits&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:#666666;' &gt;103,293&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:#666666;' &gt;114,188&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:#666666;' &gt;126,716&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#666666;' &gt;Repurchase agreements&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:#666666;' &gt;535&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:#666666;' &gt;1,209&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:#666666;' &gt;9,079&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#000000;' &gt;Debt certificates&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;63,963&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;61,112&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;63,915&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Other financial liabilities&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;13,758&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;12,844&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;11,850&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &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:#5AC4C4;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:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;516,641&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;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &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:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableoffinancialliabilitiesatamortizedcostexplanatory>
  <bbva:Disclosureofdepositsfrombanksbygeographicalareaandinstrumentexplanatory id="ID_935" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:#5AC4C4;' &gt;Deposits from credit institutions. December 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:41.25pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &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:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Demand deposits &lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Time deposits &amp;amp; other (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:161.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,218&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,082&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,295&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,377&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;432&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;168&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,634&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;302&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;617&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;924&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;394&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;161&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,840&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,358&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,190&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:161.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,374&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,568&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,161&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;18,896&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,693&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;28,751&lt;/font&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: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:#5AC4C4;' &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:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Demand deposits &lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Time deposits &amp;amp; other (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:12.75pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:12.75pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;280&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;286&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:12.75pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;651&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;669&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:12.75pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;442&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:12.75pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:12.75pt;' &gt;&lt;td style='width:156pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;207&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:12.75pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:156pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:82.5pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:82.5pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:82.5pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:82.5pt;' &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:471pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:471pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#5AC4C4;' &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:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Time deposits &amp;amp; other (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;762&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;878&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;282&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;330&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;73&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;836&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;448&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;526&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:78.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;77&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:156pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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;</bbva:Disclosureofdepositsfrombanksbygeographicalareaandinstrumentexplanatory>
  <bbva:Disclosureofdebtsecuritiesissuedexplanatory id="ID_936" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:#02A5A5;' &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:250.5pt;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:250.5pt;' &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: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:#072146;' &gt;2019&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:#072146;' &gt;2018&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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;In Euros&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:6pt;font-weight:bold;color:#004481;' &gt;40,185&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:6pt;font-weight:bold;color:#004481;' &gt;37,436&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:6pt;font-weight:bold;color:#004481;' &gt;38,735&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:250.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Promissory bills and notes&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:6pt;color:#000000;' &gt;737&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:6pt;color:#000000;' &gt;267&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:6pt;color:#000000;' &gt;1,309&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Non-convertible bonds and debentures&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:6pt;color:#000000;' &gt;12,248&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:6pt;color:#000000;' &gt;9,638&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:6pt;color:#000000;' &gt;9,418&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Covered bonds (*)&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:6pt;color:#000000;' &gt;15,542&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:6pt;color:#000000;' &gt;15,809&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:6pt;color:#000000;' &gt;16,425&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Hybrid financial instruments&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:6pt;color:#000000;' &gt;518&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:6pt;color:#000000;' &gt;814&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:6pt;color:#000000;' &gt;807&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Securitization bonds&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:6pt;color:#000000;' &gt;1,354&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:6pt;color:#000000;' &gt;1,630&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:6pt;color:#000000;' &gt;2,295&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Wholesale funding&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:6pt;color:#000000;' &gt;1,817&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:6pt;color:#000000;' &gt;142&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:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Subordinated liabilities&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:6pt;color:#000000;' &gt;7,968&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:6pt;color:#000000;' &gt;9,136&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:6pt;color:#000000;' &gt;8,481&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Convertible perpetual certificates&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:6pt;color:#666666;' &gt;5,000&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:6pt;color:#666666;' &gt;5,490&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:6pt;color:#666666;' &gt;4,500&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Non-convertible preferred stock&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:6pt;color:#666666;' &gt;83&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:6pt;color:#666666;' &gt;107&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:6pt;color:#666666;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Other non-convertible subordinated liabilities&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:6pt;color:#666666;' &gt;2,885&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:6pt;color:#666666;' &gt;3,540&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:6pt;color:#666666;' &gt;3,875&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;In foreign currencies&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:6pt;font-weight:bold;color:#004481;' &gt;23,778&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:6pt;font-weight:bold;color:#004481;' &gt;23,676&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:6pt;font-weight:bold;color:#004481;' &gt;25,180&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:250.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Promissory bills and notes&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:6pt;color:#000000;' &gt;1,210&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:6pt;color:#000000;' &gt;3,237&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:6pt;color:#000000;' &gt;3,157&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Non-convertible bonds and debentures&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:6pt;color:#000000;' &gt;10,587&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:6pt;color:#000000;' &gt;9,335&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:6pt;color:#000000;' &gt;11,109&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Covered bonds (*)&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:6pt;color:#000000;' &gt;362&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:6pt;color:#000000;' &gt;569&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:6pt;color:#000000;' &gt;650&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Hybrid financial instruments&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:6pt;color:#000000;' &gt;1,156&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:6pt;color:#000000;' &gt;1,455&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:6pt;color:#000000;' &gt;1,809&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Securitization bonds&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:6pt;color:#000000;' &gt;17&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:6pt;color:#000000;' &gt;38&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:6pt;color:#000000;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Wholesale funding&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:6pt;color:#000000;' &gt;780&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:6pt;color:#000000;' &gt;544&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:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Subordinated liabilities&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:6pt;color:#000000;' &gt;9,666&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:6pt;color:#000000;' &gt;8,499&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:6pt;color:#000000;' &gt;8,407&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Convertible perpetual certificates&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:6pt;color:#666666;' &gt;1,782&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:6pt;color:#666666;' &gt;873&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:6pt;color:#666666;' &gt;2,085&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Non-convertible preferred stock&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:6pt;color:#666666;' &gt;76&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:6pt;color:#666666;' &gt;74&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:6pt;color:#666666;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Other non-convertible subordinated liabilities&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:6pt;color:#666666;' &gt;7,808&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:6pt;color:#666666;' &gt;7,552&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:6pt;color:#666666;' &gt;6,268&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &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:middle;background-color:#5AC4C4;border-color:Black;min-width:250.5pt;' &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:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;63,963&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;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;61,112&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;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;63,915&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofdebtsecuritiesissuedexplanatory>
  <bbva:Tableoffinancialliabilitiesexplanatory id="ID_937" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:446.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:446.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:266.25pt;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:266.25pt;' &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:60pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:266.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Lease liabilities (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,335&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E7E6E6;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E7E6E6;border-color:Black;min-width:60pt;' &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:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &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:60pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,623&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60pt;' &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:60pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,835&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &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:60pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,306&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60pt;' &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:60pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,452&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:266.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Creditors for other payment obligations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,494&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60pt;' &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:60pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,563&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:266.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:266.25pt;' &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:60pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;13,758&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:60pt;' &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:60pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:60pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableoffinancialliabilitiesexplanatory>
  <bbva:Disclosureofpreferredsecuritiesbyissuerexplanatory id="ID_938" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:8pt;color:#02A5A5;' &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:255.75pt;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:255.75pt;' &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: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:#004481;' &gt;2019&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:#004481;' &gt;2018&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:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:255.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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: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;37&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;35&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;36&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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: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;83&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;98&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;98&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA USA&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;19&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;19&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;19&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Colombia&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;20&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;19&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;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:255.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;-&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;9&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;9&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:255.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:255.75pt;' &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:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &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:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &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:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;163&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofpreferredsecuritiesbyissuerexplanatory>
  <bbva:Keyassumptionsmathematicalreserves id="ID_939" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:496.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:496.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#5AC4C4;' &gt;Mathematical reserves&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:124.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:124.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td 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:#072146;' &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:#072146;' &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:124.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:124.5pt;' &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: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:#072146;' &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:#072146;' &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:#072146;' &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:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33.75pt;' &gt;&lt;td style='width:124.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:124.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Individual life insurance (1)&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;GRMF 80-2, GKMF 80/95.  PASEM, PERMF 2000&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;0.25% -2.91%&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:31.5pt;' &gt;&lt;td style='width:124.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:124.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Group insurance(2)&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;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;</bbva:Keyassumptionsmathematicalreserves>
  <bbva:Cashflowsofliabilitiesunderreinsuranceandreinsurancecontracts id="ID_940" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:8pt;color:#5AC4C4;' &gt;Maturity (Millions of euros). Liabilities under insurance and reinsurance contracts&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:182.25pt;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:182.25pt;' &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:63.75pt;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:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Up to 1 year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;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:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 3 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;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:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;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:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Over 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;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:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:182.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,571&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,806&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,032&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,606&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:182.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:182.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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;/table&gt;&lt;/div&gt;</bbva:Cashflowsofliabilitiesunderreinsuranceandreinsurancecontracts>
  <bbva:LiabilitiesUnderReassuranceAndAssuranceContracts id="ID_941" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:492.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:492.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Technical reserves (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30.75pt;' &gt;&lt;td style='width:324pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:324pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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:#072146;' &gt;2019&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:#072146;' &gt;2018&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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:324pt;' &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:56.25pt;border-top-style:solid;border-top-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;9,247&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:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-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;7,961&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;text-align:left;vertical-align:middle;border-color:Black;min-width:324pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Individual life insurance  &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7.2pt;color:#666666;' &gt;(1)&lt;/font&gt;&lt;/sup&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:#666666;' &gt;6,731&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:#666666;' &gt;6,201&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:#666666;' &gt;5,359&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;text-align:left;vertical-align:middle;border-color:Black;min-width:324pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Savings&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:#666666;' &gt;5,906&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:#666666;' &gt;5,180&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:#666666;' &gt;4,392&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;text-align:left;vertical-align:middle;border-color:Black;min-width:324pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Risk&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:#666666;' &gt;825&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:#666666;' &gt;1,021&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:#666666;' &gt;967&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;text-align:left;vertical-align:middle;border-color:Black;min-width:324pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Group insurance &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7.2pt;color:#666666;' &gt;(2)&lt;/font&gt;&lt;/sup&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:#666666;' &gt;2,517&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:#666666;' &gt;2,303&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:#666666;' &gt;2,601&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;text-align:left;vertical-align:middle;border-color:Black;min-width:324pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Savings&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:#666666;' &gt;2,334&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:#666666;' &gt;2,210&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:#666666;' &gt;2,455&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;text-align:left;vertical-align:middle;border-color:Black;min-width:324pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Risk&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:#666666;' &gt;182&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:#666666;' &gt;93&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:#666666;' &gt;147&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;text-align:left;vertical-align:middle;border-color:Black;min-width:324pt;' &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: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;641&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;662&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;631&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:324pt;' &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: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;718&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;668&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;631&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:324pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:324pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;10,606&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:LiabilitiesUnderReassuranceAndAssuranceContracts>
  <bbva:Provisionsbreakdownbyconcepts id="ID_942" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:508.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:508.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Provisions. Breakdown by concepts (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:229.5pt;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:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#44546A;' &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:8pt;font-weight:bold;color:#072146;' &gt;Notes&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:8pt;font-weight:bold;color:#072146;' &gt;2019&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:8pt;font-weight:bold;color:#072146;' &gt;2018&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:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:229.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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: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:8pt;color:#000000;' &gt;25 &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:8pt;color:#000000;' &gt;4,631&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:8pt;color:#000000;' &gt;4,787&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:8pt;color:#000000;' &gt;5,407&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:229.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:8pt;color:#000000;' &gt;61&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &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:12.75pt;' &gt;&lt;td style='width:229.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:8pt;color:#000000;' &gt;677&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;686&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;756&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:229.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:8pt;color:#000000;' &gt;711&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;636&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &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:229.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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: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:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;457&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:8pt;color:#000000;' &gt;601&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:8pt;color:#000000;' &gt;669&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:229.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:229.5pt;' &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: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:#5AC4C4;border-color:Black;min-width:69.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,538&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:#5AC4C4;border-color:Black;min-width:69.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:69.75pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Provisionsbreakdownbyconcepts>
  <bbva:Provisionsforpensionsandsimilarobligationschangesovertheperiod id="ID_943" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:519pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:519pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&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:#5AC4C4;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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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;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:59.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;330&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;126&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;391&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 expense and similar charges&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;65&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;71&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 expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;58&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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: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 expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;215&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;258&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;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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;329&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;41&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;140&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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(32)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;95&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(264)&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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(718)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(779)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(861)&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:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(65)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(103)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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: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:#5AC4C4;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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,631&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Provisionsforpensionsandsimilarobligationschangesovertheperiod>
  <bbva:TableOflProvisionsForTaxesLegalContingentsAndOtherProvisions id="ID_944" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:513.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:513.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Provisions for taxes, legal contingencies 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:313.5pt;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:313.5pt;' &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:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:313.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:313.5pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &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;tr style='height:12pt;' &gt;&lt;td style='width:313.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:313.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;396&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;455&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;868&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:313.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:313.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Unused amounts reversed during the year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(96)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(184)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(164)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:313.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:313.5pt;' &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:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(453)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(410)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,306)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:313.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:313.5pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:TableOflProvisionsForTaxesLegalContingentsAndOtherProvisions>
  <bbva:Tableofnetdefinedbenefitliabilityassetexplanatory id="ID_945" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:#02A5A5;' &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:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,050&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,969&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:345pt;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,210&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:345pt;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,204&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:345pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &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:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;61&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:13.5pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,177&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,961&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,892&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:345pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &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:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,532&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,114&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total plan assets (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,493&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:345pt;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:345pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,684&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which: Net asset on the consolidated balance sheet  (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#A5A5A5;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#A5A5A5;' &gt;(41)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#A5A5A5;' &gt;(27)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td style='width:345pt;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which: +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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#A5A5A5;' &gt;4,631&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#A5A5A5;' &gt;4,787&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#A5A5A5;' &gt;5,407&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:345pt;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which: Net liability on the consolidated balance sheet  for other long term employee benefits (4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#A5A5A5;' &gt;61&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#A5A5A5;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#A5A5A5;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofnetdefinedbenefitliabilityassetexplanatory>
  <bbva:Disclosureofconsolidatedincomestatementimpactexplanatory id="ID_946" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:475.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:475.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:313.5pt;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:313.5pt;' &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:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:313.5pt;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:313.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Interest and similar expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;65&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:313.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:313.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;307&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;295&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:11.25pt;' &gt;&lt;td style='width:313.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:313.5pt;' &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:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(242)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(217)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(223)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:313.5pt;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:313.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Personnel expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;147&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;149&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:313.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:313.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;89&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:313.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:313.5pt;' &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:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;58&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:313.5pt;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:313.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Provisions (net)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;214&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;343&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:313.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:313.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;190&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;141&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;227&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:313.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:313.5pt;' &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:40.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:14.25pt;' &gt;&lt;td style='width:313.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:313.5pt;' &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:40.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:11.25pt;' &gt;&lt;td style='width:313.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:313.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other provision expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:13.5pt;' &gt;&lt;td style='width:313.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:313.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;441&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;563&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofconsolidatedincomestatementimpactexplanatory>
  <bbva:Disclosureofequityimpactexplanatory id="ID_947" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:#02A5A5;' &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:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&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:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;254&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;81&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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;border-bottom-style:solid;border-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:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;74&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(47)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;179&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:#5AC4C4;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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;329&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;140&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofequityimpactexplanatory>
  <bbva:Tableofdefinedbenefitplans id="ID_948" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:513.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:513.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &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: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:#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:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:#072146;' &gt;2019&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:#072146;' &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:#072146;' &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:#072146;' &gt;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:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:#072146;' &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:#072146;' &gt;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:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &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;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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Defined benefit obligation&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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Plan assets&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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Net liability (asset)&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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Defined benefit obligation&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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Plan assets&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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Net liability (asset)&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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Defined benefit obligation&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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Plan assets&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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Net liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:#5AC4C4;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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;2,839&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:#5AC4C4;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;4,746&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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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;color:#000000;' &gt;Current service cost&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:7pt;color:#000000;' &gt;53&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:7pt;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:7pt;color:#000000;' &gt;53&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:7pt;color:#000000;' &gt;61&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:7pt;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:7pt;color:#000000;' &gt;61&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:7pt;color:#000000;' &gt;64&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:7pt;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:7pt;color:#000000;' &gt;64&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;Interest income/expense&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:7pt;color:#000000;' &gt;304&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:7pt;color:#000000;' &gt;242&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:7pt;color:#000000;' &gt;62&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:7pt;color:#000000;' &gt;292&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:7pt;color:#000000;' &gt;217&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:7pt;color:#000000;' &gt;76&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:7pt;color:#000000;' &gt;290&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:7pt;color:#000000;' &gt;223&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:7pt;color:#000000;' &gt;68&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;Contributions by plan participants&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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;-&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;Employer contributions&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:7pt;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:7pt;color:#000000;' &gt;65&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:7pt;color:#000000;' &gt;(65)&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:7pt;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:7pt;color:#000000;' &gt;103&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:7pt;color:#000000;' &gt;(103)&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:7pt;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:7pt;color:#000000;' &gt;25&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:7pt;color:#000000;' &gt;(25)&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:#000000;' &gt;(1)&lt;/font&gt;&lt;/sup&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:7pt;color:#000000;' &gt;210&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:7pt;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:7pt;color:#000000;' &gt;210&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:7pt;color:#000000;' &gt;109&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:7pt;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:7pt;color:#000000;' &gt;109&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:7pt;color:#000000;' &gt;231&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:7pt;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:7pt;color:#000000;' &gt;231&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;Remeasurements:&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:7pt;color:#000000;' &gt;783&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:7pt;color:#000000;' &gt;454&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:7pt;color:#000000;' &gt;329&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:7pt;color:#000000;' &gt;(263)&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:7pt;color:#000000;' &gt;(286)&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:7pt;color:#000000;' &gt;21&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:7pt;color:#000000;' &gt;331&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:7pt;color:#000000;' &gt;161&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:7pt;color:#000000;' &gt;171&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:#666666;' &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:45pt;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;-&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:7pt;color:#000000;' &gt;454&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:7pt;color:#000000;' &gt;(454)&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:7pt;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:7pt;color:#000000;' &gt;(286)&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:7pt;color:#000000;' &gt;286&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:7pt;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:7pt;color:#000000;' &gt;161&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:7pt;color:#000000;' &gt;(161)&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:#666666;' &gt;From changes in demographic assumptions&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:7pt;color:#000000;' &gt;(15)&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:7pt;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:7pt;color:#000000;' &gt;(15)&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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;100&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:7pt;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:7pt;color:#000000;' &gt;100&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:#666666;' &gt;From changes in financial assumptions&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:7pt;color:#000000;' &gt;688&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:7pt;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:7pt;color:#000000;' &gt;688&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:7pt;color:#000000;' &gt;(274)&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:7pt;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:7pt;color:#000000;' &gt;(274)&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:7pt;color:#000000;' &gt;220&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:7pt;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:7pt;color:#000000;' &gt;220&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:#666666;' &gt;Other actuarial gain and losses&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:7pt;color:#000000;' &gt;110&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:7pt;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:7pt;color:#000000;' &gt;110&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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;12&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:7pt;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:7pt;color:#000000;' &gt;12&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;Benefit payments&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:7pt;color:#000000;' &gt;(905)&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:7pt;color:#000000;' &gt;(187)&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:7pt;color:#000000;' &gt;(718)&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:7pt;color:#000000;' &gt;(979)&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:7pt;color:#000000;' &gt;(200)&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:7pt;color:#000000;' &gt;(779)&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:7pt;color:#000000;' &gt;(1,029)&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:7pt;color:#000000;' &gt;(169)&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:7pt;color:#000000;' &gt;(861)&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;Effect on changes in foreign exchange rates&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:7pt;color:#000000;' &gt;63&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:7pt;color:#000000;' &gt;69&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:7pt;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:7pt;color:#000000;' &gt;(31)&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:7pt;color:#000000;' &gt;(9)&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:7pt;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:7pt;color:#000000;' &gt;(278)&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:7pt;color:#000000;' &gt;(258)&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:7pt;color:#000000;' &gt;(19)&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;Conversions to defined contributions&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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(82)&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:7pt;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:7pt;color:#000000;' &gt;(82)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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: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;19&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;6&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;13&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;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:7pt;color:#000000;' &gt;6&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;4&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;(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:7pt;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:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:#5AC4C4;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: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:#5AC4C4;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;8,116&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:#5AC4C4;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;3,493&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:#5AC4C4;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;4,623&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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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;/tr&gt;&lt;tr style='height:9pt;' &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-style:italic;color:#A5A5A5;' &gt;Of which: Spain&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:7pt;color:#A5A5A5;' &gt;4,592&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:7pt;color:#A5A5A5;' &gt;266&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:7pt;color:#A5A5A5;' &gt;4,326&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:7pt;color:#A5A5A5;' &gt;4,807&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:7pt;font-style:italic;color:#A5A5A5;' &gt;260&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:7pt;font-style:italic;color:#A5A5A5;' &gt;4,547&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:7pt;font-style:italic;color:#A5A5A5;' &gt;5,442&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:7pt;font-style:italic;color:#A5A5A5;' &gt;320&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:7pt;font-style:italic;color:#A5A5A5;' &gt;5,122&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;font-style:italic;color:#A5A5A5;' &gt;Of which: Mexico&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:7pt;color:#A5A5A5;' &gt;2,231&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:7pt;color:#A5A5A5;' &gt;2,124&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:7pt;color:#A5A5A5;' &gt;107&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:7pt;color:#A5A5A5;' &gt;1,615&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:7pt;font-style:italic;color:#A5A5A5;' &gt;1,587&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:7pt;font-style:italic;color:#A5A5A5;' &gt;28&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:7pt;font-style:italic;color:#A5A5A5;' &gt;1,661&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:7pt;font-style:italic;color:#A5A5A5;' &gt;1,602&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:7pt;font-style:italic;color:#A5A5A5;' &gt;60&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;font-style:italic;color:#A5A5A5;' &gt;Of which: The United States&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:7pt;color:#A5A5A5;' &gt;375&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:7pt;color:#A5A5A5;' &gt;323&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:7pt;color:#A5A5A5;' &gt;52&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:7pt;color:#A5A5A5;' &gt;326&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:7pt;font-style:italic;color:#A5A5A5;' &gt;287&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:7pt;font-style:italic;color:#A5A5A5;' &gt;39&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:7pt;font-style:italic;color:#A5A5A5;' &gt;360&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:7pt;font-style:italic;color:#A5A5A5;' &gt;309&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:7pt;font-style:italic;color:#A5A5A5;' &gt;51&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;font-style:italic;color:#A5A5A5;' &gt;Of which: Turkey&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:7pt;color:#A5A5A5;' &gt;444&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:7pt;color:#A5A5A5;' &gt;359&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:7pt;color:#A5A5A5;' &gt;86&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:7pt;color:#A5A5A5;' &gt;422&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:7pt;font-style:italic;color:#A5A5A5;' &gt;339&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:7pt;font-style:italic;color:#A5A5A5;' &gt;83&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:7pt;font-style:italic;color:#A5A5A5;' &gt;520&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:7pt;font-style:italic;color:#A5A5A5;' &gt;424&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:7pt;font-style:italic;color:#A5A5A5;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofdefinedbenefitplans>
  <bbva:Disclosureofactuarialassumptionsexplanatory id="ID_949" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:507.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:507.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#02A5A5;' &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: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:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:126pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:126pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:126pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:126pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:126pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:126pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:34.5pt;' &gt;&lt;td style='width:129.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &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:31.5pt;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:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;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:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;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:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;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:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;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:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Spain &lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;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:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;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:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;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:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;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:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;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:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;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:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;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:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.5pt;' &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:6pt;color:#000000;' &gt;Discount rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;0.68%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9.04%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.24%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12.50%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.28%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10.45%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.23%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;16.30%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.24%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9.48%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.57%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11.60%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.5pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Rate of salary increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.75%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9.70%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.75%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;14.00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.75%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9.90%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Rate of pension increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.47%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8.20%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.51%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12.50%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.13%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8.40%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Medical cost trend rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7.00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12.40%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7.00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;16.70%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7.00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12.60%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Mortality tables&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;PERM/F 2000P&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;EMSSA09&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;RP 2014&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;CSO2001&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;PERM/F 2000P&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;EMSSA09&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;RP 2014&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;CSO2001&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;PERM/F 2000P&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;EMSSA09&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;RP 2014&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;CSO2001&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofactuarialassumptionsexplanatory>
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  <dei:EntityRegistrantName id="ID_1057" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">BANCO BILBAO VIZCAYA ARGENTARIA, S.A.</dei:EntityRegistrantName>
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  <ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory id="ID_1065" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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:12pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;Notes to the 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:14pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;1.   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:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;1.1   Introduction&lt;/font&gt;&lt;/p&gt;&lt;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;Banco Bilbao Vizcaya Argentaria, S.A. (hereinafter &amp;#8220;the Bank&amp;#8221; or &amp;#8220;BBVA&amp;quot;) is 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; across the country and abroad.&lt;/font&gt;&lt;/p&gt;&lt;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;The Bylaws and other public information are available for inspection at the Bank&amp;#8217;s registered address (Plaza San Nicol&amp;#225;s, 4 Bilbao) as noted on its web site (www.bbva.com).&lt;/font&gt;&lt;/p&gt;&lt;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;In addition to the activities it carries out direct&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ly, 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, the &amp;#8220;Group&amp;#8221; or the &amp;#8220;BBVA Group&amp;#8221;). In addi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tion 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;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;As of December 31, 2019, the BBVA Group had 288 consolidated entities and 54 entities ac&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;counted for using the equity method (see Notes 3 and 16 and Appendix I to V).&lt;/font&gt;&lt;/p&gt;&lt;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;The Consolid&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ated Financial Statements of the BBVA Group for the year ended December 31, 2019 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;have been authorized for issue on &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;February 28&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, 2020.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;1.2   Basis for the presentati&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;on of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;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:8pt;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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; accordance with the International Financial Reporting Standards endorsed by the European Union (hereinafter, &amp;#8220;EU-IFRS&amp;#8221;) applicable as of December 31, 2019, considering the Bank of Spain Circular 4/2017, and with any other legislation governing financial r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;eporting applicable to the Group in Spain (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:8pt;margin-left:0pt;' &gt;The BBVA Group&amp;#8217;s accompanying Consolidated Financial Statements for the year ended December 31, 2019 were prepared by the Group&amp;#8217;s Directors (through the Board of Directors meeting held on February &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;10, 2020) by applying 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, 2019, together with the conso&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lidated results of its transactions and cash flows generated during the year ended December 31, 2019.&lt;/font&gt;&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;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.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; Moreover, they include 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;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;All effective accounting standards and valuation criteria with a significant effect in the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Consolidated Financial Statements were applied in their preparation.&lt;/font&gt;&lt;/p&gt;&lt;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;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;in some tables are not the exact arithmetical sum of their component figures.&lt;/font&gt;&lt;/p&gt;&lt;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;The percentage changes in amounts have been calculated using figures expressed in thousands of 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: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;1.3   Comparative 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:8pt;margin-left:0pt;color:#004580;' &gt;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:8pt;margin-left:0pt;' &gt;As of January 1, 2019, IFRS 16 &amp;#8220;Leases&amp;#8221;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; replaced IAS 17 &amp;#8220;Leases&amp;#8221; and includes changes in the lessee accounting model (see Note 2.2.19). This amendment was applied using the modified retrospective method and the previous years have not been restated for comparison purposes as allowed by the stan&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;dard (see Note 2.3).&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:8pt;margin-left:0pt;color:#004580;' &gt;Income taxes&lt;/font&gt;&lt;/p&gt;&lt;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;As mentioned in Note 2.3 and derived from the Annual improvements cycle to IFRSs 2015-2017, the amendment to IAS 12 &amp;#8211; &amp;#8220;Income Taxes&amp;#8221;  requires that the tax impacts of the distribution of dividends should be recorded under &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;quot;Tax expense or income related to profit or loss from continuing operations&amp;quot; in the consolidated income statement for the year. Previously they were recorded under total 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:8pt;margin-left:0pt;' &gt;In order for the information to be comparable, the information for the years &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2018 and 2017 has been restated, recognizing a &amp;#8364;76 million profit and a &amp;#8364;5 million loss in the consolidated financial statements for such years, respectively, under &amp;#8220;Retained earnings&amp;#8220; and &amp;#8220;Less: Interim dividends&amp;#8221;. This has meant an increase of 1.4% and a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; decrease of 0.1% in the &amp;#8220;Profit or loss attributable to owners of the parent&amp;#8221; for the years 2018 and 2017, respectively with respect to amounts previously presented in the consolidated Financial Statements for the year ended December 31, 2018 and 2017. Th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;is reclassification has had no impact on the consolidated total 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:8pt;margin-left:0pt;color:#004580;' &gt;Operating segments&lt;/font&gt;&lt;/p&gt;&lt;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;During 2019, there have been changes to the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;BBVA Group business segments in comparison to the segment structure in 2018 (See Note 6). The information related to business segments as of and for the years ended December 31, 2018 and 2017 has been restated in order to make them comparable, as required &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;by IFRS 8 &amp;#8220;Information by business segments&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:8pt;margin-left:0pt;color:#004580;' &gt;Hyperinflationary economies&lt;/font&gt;&lt;/p&gt;&lt;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;In 2018, the information as of December 31, 2017 was restated for comparative purposes taking into account the change in accounting policies for hyperinflationary economies in accord&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ance with IAS 29 &amp;quot;Financial information in hyperinflationary economies&amp;quot; (see Note 2.2.20). &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:8pt;margin-left:0pt;color:#004580;' &gt;Application 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:8pt;margin-left:0pt;' &gt;As of January 1, 2018, IFRS 9 &amp;#8220;Financial instruments&amp;#8221; replaced IAS 39 &amp;#8220;Financial Instruments: Recognition and Measurement&amp;#8221; and included change&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s 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 was not applied retrospectively for p&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;revious years. As a consequence of the application of IFRS 9, the comparative information for the financial year 2017 included in these Consolidated Financial Statements was subject to some non-significant modifications in order to improve the comparabilit&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;y.&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;1.4   Seasonal nature of income and expense&lt;/font&gt;&lt;/p&gt;&lt;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;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, and are not significantly affected by seaso&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nal factors within the same 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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;1.5   Responsibility for the information and for the estimates made&lt;/font&gt;&lt;/p&gt;&lt;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;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;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;Estimates were required to&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; be made at times when preparing these Consolidated Financial Statements in order to calculate the recorded or disclosed amount of some assets, liabilities, income, expense and commitments. These estimates relate mainly to the following:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loss allowances on&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; certain financial assets (see Notes 7, 12, 13, 14 and 16).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The useful life and impair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ment losses of tangible and intangible assets (see Notes 17, 18, 20 and 21).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The valuation of goodwill and price allocation of business combinations (see Note 18).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The fair value of certain unlisted financial assets and liabilities (see Notes 7, 8, 10, 11,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; 12 and 13).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:12pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The recoverability of deferred tax assets (see Note 19).&lt;/font&gt;&lt;/span&gt;&lt;/p&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;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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.&lt;/font&gt;&lt;/p&gt;&lt;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;During 2019 there were no significant changes to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the assumptions and estimations performed as of December 31, 2018, except as indicated in these Consolidated Financial Statements.&lt;/font&gt;&lt;/p&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;1.6   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;BBVA Group&amp;#8217;s Internal Control over Financial Reporting&lt;/font&gt;&lt;/p&gt;&lt;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;BBVA Group&amp;#8217;s Consolidated Financial Statements are&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; prepared under an Internal Control over Financial Reporting Model (hereinafter &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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;support&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; that the trans&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;actions are processed in accordance with the applicable laws and regulations.&lt;/font&gt;&lt;/p&gt;&lt;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;The 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 2013 framework sets five components that constitute the basis of the effectiveness and efficiency of the internal control systems:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The establishment of an appropriate control framework.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The assessment of the risks that could arise during the preparation o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;f the financial information.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The design of the necessary controls to mitigate the identified risks.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The establishment of an appropriate system of information to detect and report system weaknesses.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The monitoring activities over the controls to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;support &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;y perform correctly and are effective over time.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;The ICFR is a dynamic model that 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; to a continuous evaluation by the internal control units located in the different entities of 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:8pt;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;p style='display:flex;margin-left:17.85pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A control system organi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;zed into th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ree lines of defense that has been updated  and strengthened in 2019 :&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The first line of defense (1LoD) is located within the business and support units, which are responsible for identifying risks associated with their processes&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, as well as for implementing &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and&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;execut&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ing&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; necessary controls&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; to mitigate them. In 2019, in order to reinforce the adequate risk management in each areas processes, the role of the Risk Control Assurer was created. &lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The second line of defense (2LoD) c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;omprises the specialized control units for each type of risk (Legal, IT, Third Party, Finance, Compliance or Processes among others). This second line define&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the mitigation and control frameworks for their area&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of responsibility across the entire organiz&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ation and performs challenge to the control model (supervises the implementation and design of the controls and assesses their effectiveness). &lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The third line of defense (3LoD) is the Internal Audit unit, which conducts an independent review of the model, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;verifying the compliance and effectiveness of the model.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;A &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;committee&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; structure, called Corporate Assurance, which enables the escalation of possible weaknesses and internal control issues to the management at a Group level and also in each of the countries&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; where the Group operates.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&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;The ICFR Model is subject to annual evaluations by the Group&amp;#8217;s &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Internal Audit Unit. 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  <bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets id="ID_1741" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_GeneralgovernmentMember_bbva_GeographyavailablelforsaleAxis_country_TK" unitRef="EUR" decimals="INF">-114000000</bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Fairvaluedebtsecuritiesavailableforsalefinancialassets id="ID_1742" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_GeneralgovernmentMember_bbva_GeographyavailablelforsaleAxis_country_TK" unitRef="EUR" decimals="INF">4967000000</bbva:Fairvaluedebtsecuritiesavailableforsalefinancialassets>
  <bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets id="ID_1743" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CentralbanksMember_bbva_GeographyavailablelforsaleAxis_country_TK" unitRef="EUR" decimals="INF">0</bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Unrealizedgainsdebtsecuritiesavailableforsalefinancialassets id="ID_1744" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CentralbanksMember_bbva_GeographyavailablelforsaleAxis_country_TK" unitRef="EUR" decimals="INF">0</bbva:Unrealizedgainsdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets id="ID_1745" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CentralbanksMember_bbva_GeographyavailablelforsaleAxis_country_TK" unitRef="EUR" decimals="INF">0</bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Fairvaluedebtsecuritiesavailableforsalefinancialassets id="ID_1746" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CentralbanksMember_bbva_GeographyavailablelforsaleAxis_country_TK" unitRef="EUR" decimals="INF">0</bbva:Fairvaluedebtsecuritiesavailableforsalefinancialassets>
  <bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets id="ID_1747" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CreditinstitutionsMember_bbva_GeographyavailablelforsaleAxis_country_TK" unitRef="EUR" decimals="INF">19000000</bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Unrealizedgainsdebtsecuritiesavailableforsalefinancialassets id="ID_1748" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CreditinstitutionsMember_bbva_GeographyavailablelforsaleAxis_country_TK" unitRef="EUR" decimals="INF">0</bbva:Unrealizedgainsdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets id="ID_1749" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CreditinstitutionsMember_bbva_GeographyavailablelforsaleAxis_country_TK" unitRef="EUR" decimals="INF">-1000000</bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Fairvaluedebtsecuritiesavailableforsalefinancialassets id="ID_1750" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CreditinstitutionsMember_bbva_GeographyavailablelforsaleAxis_country_TK" unitRef="EUR" decimals="INF">19000000</bbva:Fairvaluedebtsecuritiesavailableforsalefinancialassets>
  <bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets id="ID_1751" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_OtherissuersMember_bbva_GeographyavailablelforsaleAxis_country_TK" unitRef="EUR" decimals="INF">0</bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Unrealizedgainsdebtsecuritiesavailableforsalefinancialassets id="ID_1752" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_OtherissuersMember_bbva_GeographyavailablelforsaleAxis_country_TK" unitRef="EUR" decimals="INF">0</bbva:Unrealizedgainsdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets id="ID_1753" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_OtherissuersMember_bbva_GeographyavailablelforsaleAxis_country_TK" unitRef="EUR" decimals="INF">0</bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Fairvaluedebtsecuritiesavailableforsalefinancialassets id="ID_1754" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_OtherissuersMember_bbva_GeographyavailablelforsaleAxis_country_TK" unitRef="EUR" decimals="INF">0</bbva:Fairvaluedebtsecuritiesavailableforsalefinancialassets>
  <bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets id="ID_1755" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_GeneralgovernmentMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="INF">6774000000</bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Unrealizedgainsdebtsecuritiesavailableforsalefinancialassets id="ID_1756" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_GeneralgovernmentMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="INF">325000000</bbva:Unrealizedgainsdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets id="ID_1757" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_GeneralgovernmentMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="INF">-77000000</bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Fairvaluedebtsecuritiesavailableforsalefinancialassets id="ID_1758" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_GeneralgovernmentMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="INF">7022000000</bbva:Fairvaluedebtsecuritiesavailableforsalefinancialassets>
  <bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets id="ID_1759" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CentralbanksMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="INF">1330000000</bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Unrealizedgainsdebtsecuritiesavailableforsalefinancialassets id="ID_1760" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CentralbanksMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="INF">2000000</bbva:Unrealizedgainsdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets id="ID_1761" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CentralbanksMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="INF">-1000000</bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Fairvaluedebtsecuritiesavailableforsalefinancialassets id="ID_1762" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CentralbanksMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="INF">1331000000</bbva:Fairvaluedebtsecuritiesavailableforsalefinancialassets>
  <bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets id="ID_1763" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CreditinstitutionsMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="INF">2535000000</bbva:Amortizedcostdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Unrealizedgainsdebtsecuritiesavailableforsalefinancialassets id="ID_1764" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CreditinstitutionsMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="INF">139000000</bbva:Unrealizedgainsdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets id="ID_1765" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CreditinstitutionsMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="INF">-19000000</bbva:Unrealizedlossesdebtsecuritiesavailableforsalefinancialassets>
  <bbva:Fairvaluedebtsecuritiesavailableforsalefinancialassets id="ID_1766" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_CreditinstitutionsMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="INF">2654000000</bbva:Fairvaluedebtsecuritiesavailableforsalefinancialassets>
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  <bbva:Fairvaluedebtsecuritiesavailableforsalefinancialassets id="ID_1770" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CounterpartiesavaialbleforsaleAxis_bbva_OtherissuersMember_bbva_GeographyavailablelforsaleAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="INF">2679000000</bbva:Fairvaluedebtsecuritiesavailableforsalefinancialassets>
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  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1773" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AA2Member" unitRef="EUR" decimals="INF">317000000</bbva:Subtotaldebtinstrumentsavailableforsale>
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  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_1776" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_A1Member" unitRef="EUR" decimals="INF">12895000000</bbva:Subtotaldebtinstrumentsavailableforsale>
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  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_1800" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AA2Member" unitRef="pure" decimals="INF">0.00412904109046948</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
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  <bbva:Consolidationreservesattributedtothebankanddependentsconsolidatedcompanies id="ID_2848" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="INF">14266000000</bbva:Consolidationreservesattributedtothebankanddependentsconsolidatedcompanies>
  <bbva:Totalretainedearningsrevaluationreservesandotherreserves id="ID_2849" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">26277000000</bbva:Totalretainedearningsrevaluationreservesandotherreserves>
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  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_2852" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_OtherjointvnetureMember" unitRef="EUR" decimals="INF">6000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_2853" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_OtherjointvnetureMember" unitRef="EUR" decimals="INF">31000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
  <bbva:Subtotalaccumulatedincomeandrevaluationreserves id="ID_2854" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_ListofgroupandsubsidiariesAxis_bbva_OtherjointvnetureMember" unitRef="EUR" decimals="INF">30000000</bbva:Subtotalaccumulatedincomeandrevaluationreserves>
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  <bbva:Averagetechnicalinteresttype id="ID_2856" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_MX_bbva_MatematicalreservesinsurancetypeAxis_bbva_IndividualinsuranceMember">2.50%</bbva:Averagetechnicalinteresttype>
  <bbva:Averagetechnicalinteresttype id="ID_2857" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_MX_bbva_MatematicalreservesinsurancetypeAxis_bbva_SavingsinsuranceMember">5.50%</bbva:Averagetechnicalinteresttype>
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  <bbva:TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAtTheEnd id="ID_2876" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="INF">1425000000</bbva:TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAtTheEnd>
  <ifrs-full:PurchaseOfTreasuryShares id="ID_2877" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">1683000000</ifrs-full:PurchaseOfTreasuryShares>
  <ifrs-full:SaleOrIssueOfTreasuryShares id="ID_2878" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">-1505000000</ifrs-full:SaleOrIssueOfTreasuryShares>
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  <bbva:Treasurysharesderivativesonshares id="ID_2887" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">-23000000</bbva:Treasurysharesderivativesonshares>
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  <bbva:Sharesinentityheldbyentityorbyitssubsidiariesorassociatesmillionsofeuros id="ID_2889" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">0</bbva:Sharesinentityheldbyentityorbyitssubsidiariesorassociatesmillionsofeuros>
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  <bbva:Treasurysharesheldbyothersubsidiaries id="ID_2891" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">0</bbva:Treasurysharesheldbyothersubsidiaries>
  <bbva:Treasurysharesaveragepurchasepriceineuros id="ID_2892" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">0</bbva:Treasurysharesaveragepurchasepriceineuros>
  <bbva:Treasurysharesaveragesellingpriceineuros id="ID_2893" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">0</bbva:Treasurysharesaveragesellingpriceineuros>
  <bbva:Treasurysharesnetgainorlossesontransactions id="ID_2894" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">13000000</bbva:Treasurysharesnetgainorlossesontransactions>
  <bbva:Sharesinentityheldbyentityorbyitssubsidiariesorassociatesmillionsofeuros id="ID_2895" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">0</bbva:Sharesinentityheldbyentityorbyitssubsidiariesorassociatesmillionsofeuros>
  <bbva:Treasurysharesheldbycorporacingeneralfinancierasa id="ID_2896" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">296000000</bbva:Treasurysharesheldbycorporacingeneralfinancierasa>
  <bbva:Treasurysharesheldbyothersubsidiaries id="ID_2897" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">0</bbva:Treasurysharesheldbyothersubsidiaries>
  <bbva:Treasurysharesaveragepurchasepriceineuros id="ID_2898" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">0</bbva:Treasurysharesaveragepurchasepriceineuros>
  <bbva:Treasurysharesaveragesellingpriceineuros id="ID_2899" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">0</bbva:Treasurysharesaveragesellingpriceineuros>
  <bbva:Treasurysharesnetgainorlossesontransactions id="ID_2900" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">-24000000</bbva:Treasurysharesnetgainorlossesontransactions>
  <bbva:Sharesinentityheldbyentityorbyitssubsidiariesorassociatesmillionsofeuros id="ID_2901" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">0</bbva:Sharesinentityheldbyentityorbyitssubsidiariesorassociatesmillionsofeuros>
  <bbva:Treasurysharesheldbycorporacingeneralfinancierasa id="ID_2902" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">96000000</bbva:Treasurysharesheldbycorporacingeneralfinancierasa>
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  <bbva:Fairvalue id="ID_3343" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_IssuingInstitutionAxis_bbva_OtherinstitutionsMember_bbva_SecuritiesLocationByCountryAxis_bbva_OtherCountriesMember" unitRef="EUR" decimals="INF">1169000000</bbva:Fairvalue>
  <bbva:Amortizedcost id="ID_3344" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_IssuingInstitutionAxis_bbva_SubtotalMember_bbva_SecuritiesLocationByCountryAxis_bbva_NationalsecuritiesMember" unitRef="EUR" decimals="INF">17684000000</bbva:Amortizedcost>
  <bbva:Unrealizedgains id="ID_3345" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_IssuingInstitutionAxis_bbva_SubtotalMember_bbva_SecuritiesLocationByCountryAxis_bbva_NationalsecuritiesMember" unitRef="EUR" decimals="INF">668000000</bbva:Unrealizedgains>
  <bbva:Unrealizedlosses id="ID_3346" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_IssuingInstitutionAxis_bbva_SubtotalMember_bbva_SecuritiesLocationByCountryAxis_bbva_NationalsecuritiesMember" unitRef="EUR" decimals="INF">-31000000</bbva:Unrealizedlosses>
  <bbva:Fairvalue id="ID_3347" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_IssuingInstitutionAxis_bbva_SubtotalMember_bbva_SecuritiesLocationByCountryAxis_bbva_NationalsecuritiesMember" unitRef="EUR" decimals="INF">18320000000</bbva:Fairvalue>
  <bbva:Amortizedcost id="ID_3348" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_IssuingInstitutionAxis_bbva_SubtotalMember_bbva_SecuritiesLocationByCountryAxis_bbva_NationalsecuritiesMember" unitRef="EUR" decimals="INF">16019000000</bbva:Amortizedcost>
  <bbva:Unrealizedgains id="ID_3349" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_IssuingInstitutionAxis_bbva_SubtotalMember_bbva_SecuritiesLocationByCountryAxis_bbva_NationalsecuritiesMember" unitRef="EUR" decimals="INF">499000000</bbva:Unrealizedgains>
  <bbva:Unrealizedlosses id="ID_3350" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_IssuingInstitutionAxis_bbva_SubtotalMember_bbva_SecuritiesLocationByCountryAxis_bbva_NationalsecuritiesMember" unitRef="EUR" decimals="INF">-290000000</bbva:Unrealizedlosses>
  <bbva:Fairvalue id="ID_3351" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_IssuingInstitutionAxis_bbva_SubtotalMember_bbva_SecuritiesLocationByCountryAxis_bbva_NationalsecuritiesMember" unitRef="EUR" decimals="INF">16228000000</bbva:Fairvalue>
  <bbva:Amortizedcost id="ID_3352" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_IssuingInstitutionAxis_bbva_SubtotalMember_bbva_SecuritiesLocationByCountryAxis_bbva_ForeignsecuritiesMember" unitRef="EUR" decimals="INF">21194000000</bbva:Amortizedcost>
  <bbva:Unrealizedgains id="ID_3353" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_IssuingInstitutionAxis_bbva_SubtotalMember_bbva_SecuritiesLocationByCountryAxis_bbva_ForeignsecuritiesMember" unitRef="EUR" decimals="INF">409000000</bbva:Unrealizedgains>
  <bbva:Unrealizedlosses id="ID_3354" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_IssuingInstitutionAxis_bbva_SubtotalMember_bbva_SecuritiesLocationByCountryAxis_bbva_ForeignsecuritiesMember" unitRef="EUR" decimals="INF">-129000000</bbva:Unrealizedlosses>
  <bbva:Fairvalue id="ID_3355" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_IssuingInstitutionAxis_bbva_SubtotalMember_bbva_SecuritiesLocationByCountryAxis_bbva_ForeignsecuritiesMember" unitRef="EUR" decimals="INF">21476000000</bbva:Fairvalue>
  <bbva:Amortizedcost id="ID_3356" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_IssuingInstitutionAxis_bbva_SubtotalMember_bbva_SecuritiesLocationByCountryAxis_bbva_ForeignsecuritiesMember" unitRef="EUR" decimals="INF">16510000000</bbva:Amortizedcost>
  <bbva:Unrealizedgains id="ID_3357" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_IssuingInstitutionAxis_bbva_SubtotalMember_bbva_SecuritiesLocationByCountryAxis_bbva_ForeignsecuritiesMember" unitRef="EUR" decimals="INF">57000000</bbva:Unrealizedgains>
  <bbva:Unrealizedlosses id="ID_3358" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_IssuingInstitutionAxis_bbva_SubtotalMember_bbva_SecuritiesLocationByCountryAxis_bbva_ForeignsecuritiesMember" unitRef="EUR" decimals="INF">-416000000</bbva:Unrealizedlosses>
  <bbva:Fairvalue id="ID_3359" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_IssuingInstitutionAxis_bbva_SubtotalMember_bbva_SecuritiesLocationByCountryAxis_bbva_ForeignsecuritiesMember" unitRef="EUR" decimals="INF">16150000000</bbva:Fairvalue>
  <bbva:Amortizedcost id="ID_3360" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_IssuingInstitutionAxis_bbva_BreakdownsecuritiesbyinstitutionMemberDomain_bbva_SecuritiesLocationByCountryAxis_bbva_TotalamortizedassetsMember" unitRef="EUR" decimals="INF">38877000000</bbva:Amortizedcost>
  <bbva:Unrealizedgains id="ID_3361" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_IssuingInstitutionAxis_bbva_BreakdownsecuritiesbyinstitutionMemberDomain_bbva_SecuritiesLocationByCountryAxis_bbva_TotalamortizedassetsMember" unitRef="EUR" decimals="INF">1077000000</bbva:Unrealizedgains>
  <bbva:Unrealizedlosses id="ID_3362" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_IssuingInstitutionAxis_bbva_BreakdownsecuritiesbyinstitutionMemberDomain_bbva_SecuritiesLocationByCountryAxis_bbva_TotalamortizedassetsMember" unitRef="EUR" decimals="INF">-160000000</bbva:Unrealizedlosses>
  <bbva:Fairvalue id="ID_3363" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_IssuingInstitutionAxis_bbva_BreakdownsecuritiesbyinstitutionMemberDomain_bbva_SecuritiesLocationByCountryAxis_bbva_TotalamortizedassetsMember" unitRef="EUR" decimals="INF">39796000000</bbva:Fairvalue>
  <bbva:Amortizedcost id="ID_3364" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_IssuingInstitutionAxis_bbva_BreakdownsecuritiesbyinstitutionMemberDomain_bbva_SecuritiesLocationByCountryAxis_bbva_TotalamortizedassetsMember" unitRef="EUR" decimals="INF">32530000000</bbva:Amortizedcost>
  <bbva:Unrealizedgains id="ID_3365" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_IssuingInstitutionAxis_bbva_BreakdownsecuritiesbyinstitutionMemberDomain_bbva_SecuritiesLocationByCountryAxis_bbva_TotalamortizedassetsMember" unitRef="EUR" decimals="INF">556000000</bbva:Unrealizedgains>
  <bbva:Unrealizedlosses id="ID_3366" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_IssuingInstitutionAxis_bbva_BreakdownsecuritiesbyinstitutionMemberDomain_bbva_SecuritiesLocationByCountryAxis_bbva_TotalamortizedassetsMember" unitRef="EUR" decimals="INF">-706000000</bbva:Unrealizedlosses>
  <bbva:Fairvalue id="ID_3367" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_IssuingInstitutionAxis_bbva_BreakdownsecuritiesbyinstitutionMemberDomain_bbva_SecuritiesLocationByCountryAxis_bbva_TotalamortizedassetsMember" unitRef="EUR" decimals="INF">32378000000</bbva:Fairvalue>
  <bbva:Disclosureretainedearningsrevaluationreservesexplanatory id="ID_3368" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:533.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:533.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:308.25pt;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:308.25pt;' &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: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:#0A5FB4;' &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:#072146;' &gt;2019&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:#072146;' &gt;2018&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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;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:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Retained earnings (losses) and revaluation reserves&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:#004481;' &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:#004481;' &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:#004481;' &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:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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:56.25pt;border-top-style:solid;border-top-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;&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,623&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,701&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,759&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Mexico Group&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;10,645&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;10,014&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;9,442&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Garanti BBVA Group&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;1,985&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;1,415&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;751&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;1,130&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;998&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;926&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Corporaci&amp;#243;n General Financiera S.A.&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;932&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;1,084&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;1,202&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Per&amp;#250; Group&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;848&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;756&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;681&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBV Am&amp;#233;rica, S.L.&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;247&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;217&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;195&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Catalunyacaixa Inmobiliaria, S.A.&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;225&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;233&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;11&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;597&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;552&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;951&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;130&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;119&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;108&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;62&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;49&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;(73)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;47&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;108&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;(20)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;27&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;(33)&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;(47)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;(13)&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;25&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;(48)&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;(48)&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&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;(50)&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;(74)&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;(76)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;(52)&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;(53)&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;(57)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;(59)&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;(66)&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;(436)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;(99)&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;(127)&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;(215)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Venezuela Group&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;(125)&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;(124)&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;(113)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;(317)&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;(586)&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;(794)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Argentina Group&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;35&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;103&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;999&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;(587)&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;363&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;515&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;(594)&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;(587)&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;(576)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;(5,375)&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;(5,317)&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;(4,881)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:308.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;&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;188&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;(618)&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;(544)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:308.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;26,402&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;23,079&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;23,758&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;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:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Other reserves or accumulated losses of investments in joint ventures and associates&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:#004481;' &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:#004481;' &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:#004481;' &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:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Metrovacesa, S.A.&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: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;border-top-style:solid;border-top-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;(75)&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(61)&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(53)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;(56)&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;(28)&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)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;&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;6&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;31&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;30&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:308.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:308.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(58)&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(35)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:308.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:308.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;26,277&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;23,724&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureretainedearningsrevaluationreservesexplanatory>
  <bbva:Disclosureretainedearningsrevaluationreservesandotherreservesbreakdownbyconceptsexplanatory id="ID_3369" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:390.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:390.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:213.75pt;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:213.75pt;' &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: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:8pt;font-weight:bold;color:#0A5FB4;' &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:8pt;font-weight:bold;color:#072146;' &gt;2019&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:8pt;font-weight:bold;color:#072146;' &gt;2018&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:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:213.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:213.75pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;653&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;653&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;644&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:213.75pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;124&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;133&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:13.5pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:213.75pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:13.5pt;' &gt;&lt;td style='width:213.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:213.75pt;' &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:44.25pt;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:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:8pt;color:#000000;' &gt;8,331&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:8pt;color:#000000;' &gt;8,010&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:8pt;color:#000000;' &gt;8,643&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:213.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:213.75pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;9,108&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;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td style='width:213.75pt;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:213.75pt;' &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: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:8pt;color:#000000;' &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:8pt;color:#000000;' &gt;17,169&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:8pt;color:#000000;' &gt;14,222&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:8pt;color:#000000;' &gt;14,266&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:213.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:213.75pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;26,277&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;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;23,724&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureretainedearningsrevaluationreservesandotherreservesbreakdownbyconceptsexplanatory>
  <bbva:Disclosurerestrictedreservesexplanatory id="ID_3370" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:#02A5A5;' &gt;Restricted 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: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:#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:#072146;' &gt;2019&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:#072146;' &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:#072146;' &gt;2017&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:bottom;border-color:Black;min-width:282pt;' &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: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;88&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;88&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;88&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;Restricted reserve for parent company shares and loans for those shares&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;34&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;44&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;69&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;Restricted reserve for redenomination of capital in euros&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;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;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;2&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:#5AC4C4;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: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:#5AC4C4;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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;124&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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;159&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosurerestrictedreservesexplanatory>
  <bbva:Sharesacceptedinpledge id="ID_3371" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:#02A5A5;' &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:234.75pt;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:234.75pt;' &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:61.5pt;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:61.5pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:234.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:234.75pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43,018,382&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;64,633,003&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:234.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:234.75pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:234.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:234.75pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.65%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.97%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Sharesacceptedinpledge>
  <bbva:Sharesownedbythirdpartiesbutmanagedbythegroup id="ID_3372" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:#02A5A5;' &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:234.75pt;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:234.75pt;' &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:61.5pt;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:61.5pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:234.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:234.75pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,807,398&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34,597,310&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:234.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:234.75pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:234.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:234.75pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.36%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.52%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Sharesownedbythirdpartiesbutmanagedbythegroup>
  <bbva:Tableoftreasurystock id="ID_3373" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:#02A5A5;' &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:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' 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:6pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' 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:6pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' 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:6pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:35.1pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &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:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Number of Shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Millions of Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Number of Shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Millions of Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Number of Shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Millions of Euros&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:192.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:9pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt; + Purchases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;214,925,699&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,088&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,674&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:192.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(249,566,201)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,298)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,622)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:192.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(23)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:7.9pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:192.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;12,617,189&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;12,617,189&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;47,257,691&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;296&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;13,339,582&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:192.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5.06&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:11.25pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:192.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5.20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:10.5pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:192.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(24)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableoftreasurystock>
  <bbva:Tableofpercentajetreasurystock id="ID_3374" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:515.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:515.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;Treasury Stock&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:150.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &gt;&lt;td style='width:150.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:150.75pt;' &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:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Min&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Max&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Closing&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Min&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Max&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Closing&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Min&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Max&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Closing&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:150.75pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.138%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.746%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.213%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.200%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofpercentajetreasurystock>
  <bbva:Accumulatedothercomprehensiveincomeclassifiedbyconceptsexplanatory id="ID_3375" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:#02A5A5;' &gt;Accumulated other comprehensive income (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:19.5pt;' &gt;&lt;td style='width:297.75pt;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:297.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#44546A;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017(*)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:297.75pt;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:297.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Items that will not be reclassified to profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(1,875)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(1,284)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(1,183)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:297.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Actuarial gains (losses) on defined benefit pension plans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,498)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,183)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:297.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:45.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:18pt;' &gt;&lt;td style='width:297.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:45.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(403)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(155)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:45.75pt;' &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:18pt;' &gt;&lt;td style='width:297.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:45.75pt;' &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:18pt;' &gt;&lt;td style='width:297.75pt;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:297.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Items that may be reclassified to profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(5,359)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(5,932)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(5,755)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:297.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(896)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(218)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:12.75pt;' &gt;&lt;td style='width:297.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:45.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6,161)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7,297)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:297.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:45.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(44)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:12.75pt;' &gt;&lt;td style='width:297.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:45.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,641&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:297.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:45.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,760&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;943&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:45.75pt;' &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:297.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:45.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:18pt;' &gt;&lt;td style='width:297.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:297.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:297.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(7,235)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Accumulatedothercomprehensiveincomeclassifiedbyconceptsexplanatory>
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  <bbva:Estimatedbenefitpayments id="ID_3611" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_EstimatedbenefitpaymentsAxis_country_TK_bbva_EstimatedbenefitpaymentsmaturityAxis_ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" unitRef="EUR" decimals="INF">22000000</bbva:Estimatedbenefitpayments>
  <bbva:Estimatedbenefitpayments id="ID_3612" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_EstimatedbenefitpaymentsAxis_country_TK_bbva_EstimatedbenefitpaymentsmaturityAxis_ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" unitRef="EUR" decimals="INF">18000000</bbva:Estimatedbenefitpayments>
  <bbva:Estimatedbenefitpayments id="ID_3613" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_EstimatedbenefitpaymentsAxis_country_TK_bbva_EstimatedbenefitpaymentsmaturityAxis_ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" unitRef="EUR" decimals="INF">22000000</bbva:Estimatedbenefitpayments>
  <bbva:Estimatedbenefitpayments id="ID_3614" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_EstimatedbenefitpaymentsAxis_country_TK_bbva_EstimatedbenefitpaymentsmaturityAxis_ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" unitRef="EUR" decimals="INF">25000000</bbva:Estimatedbenefitpayments>
  <bbva:Estimatedbenefitpayments id="ID_3615" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_EstimatedbenefitpaymentsAxis_country_TK_bbva_EstimatedbenefitpaymentsmaturityAxis_ifrs-full_LaterThanFiveYearsAndNotLaterThanTenYearsMember" unitRef="EUR" decimals="INF">200000000</bbva:Estimatedbenefitpayments>
  <bbva:Estimatedbenefitpayments id="ID_3616" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_EstimatedbenefitpaymentsmaturityAxis_ifrs-full_NotLaterThanOneYearMember" unitRef="EUR" decimals="INF">764000000</bbva:Estimatedbenefitpayments>
  <bbva:Estimatedbenefitpayments id="ID_3617" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_EstimatedbenefitpaymentsmaturityAxis_ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" unitRef="EUR" decimals="INF">694000000</bbva:Estimatedbenefitpayments>
  <bbva:Estimatedbenefitpayments id="ID_3618" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_EstimatedbenefitpaymentsmaturityAxis_ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" unitRef="EUR" decimals="INF">603000000</bbva:Estimatedbenefitpayments>
  <bbva:Estimatedbenefitpayments id="ID_3619" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_EstimatedbenefitpaymentsmaturityAxis_ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" unitRef="EUR" decimals="INF">526000000</bbva:Estimatedbenefitpayments>
  <bbva:Estimatedbenefitpayments id="ID_3620" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_EstimatedbenefitpaymentsmaturityAxis_ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" unitRef="EUR" decimals="INF">465000000</bbva:Estimatedbenefitpayments>
  <bbva:Estimatedbenefitpayments id="ID_3621" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_EstimatedbenefitpaymentsmaturityAxis_ifrs-full_LaterThanFiveYearsAndNotLaterThanTenYearsMember" unitRef="EUR" decimals="INF">2018000000</bbva:Estimatedbenefitpayments>
  <bbva:Sourcesofencumbrance id="ID_3622" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:9pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:642.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:642.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6.5pt;color:#02A5A5;' &gt;Sources of encumbrance (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:129.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6.5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:171pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:171pt;' &gt;&lt;font style='font-family:Arial;font-size:6.5pt;font-weight:bold;color:#072146;' &gt;December 2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:171pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:171pt;' &gt;&lt;font style='font-family:Arial;font-size:6.5pt;font-weight:bold;color:#072146;' &gt;December 2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:171pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:171pt;' &gt;&lt;font style='font-family:Arial;font-size:6.5pt;font-weight:bold;color:#072146;' &gt;December 2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:54pt;' &gt;&lt;td style='width:129.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6.5pt;font-weight:bold;color:#004481;' &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:6.5pt;font-weight:bold;color:#072146;' &gt;Matching liabilities, contingent liabilities or securities lent&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:6.5pt;font-weight:bold;color:#072146;' &gt;Assets, collateral received and own&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6.5pt;font-weight:bold;color:#072146;' &gt;debt securities issued other than covered bonds and ABSs encumbered&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:6.5pt;font-weight:bold;color:#072146;' &gt;Matching liabilities, contingent liabilities or securities lent&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:6.5pt;font-weight:bold;color:#072146;' &gt;Assets, collateral received and own&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6.5pt;font-weight:bold;color:#072146;' &gt;debt securities issued other than covered bonds and ABSs encumbered&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:6.5pt;font-weight:bold;color:#072146;' &gt;Matching liabilities, contingent liabilities or securities lent&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:6.5pt;font-weight:bold;color:#072146;' &gt;Assets, collateral received and own&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6.5pt;font-weight:bold;color:#072146;' &gt;debt securities issued other than covered bonds and ABSs encumbered&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &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:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6.5pt;font-weight:bold;color:#004481;' &gt;Book value of financial liabilities&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:6.5pt;font-weight:bold;color:#004481;' &gt;124,252&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:6.5pt;font-weight:bold;color:#004481;' &gt;135,500&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:6.5pt;font-weight:bold;color:#004481;' &gt;113,498&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:6.5pt;font-weight:bold;color:#004481;' &gt;131,172&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:6.5pt;font-weight:bold;color:#004481;' &gt;118,704&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:6.5pt;font-weight:bold;color:#004481;' &gt;133,312&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:129.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6.5pt;color:#000000;' &gt;Derivatives&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:6.5pt;color:#000000;' &gt;19,066&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:6.5pt;color:#000000;' &gt;20,004&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:6.5pt;color:#000000;' &gt;8,972&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:6.5pt;color:#000000;' &gt;11,036&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:6.5pt;color:#000000;' &gt;11,843&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:6.5pt;color:#000000;' &gt;11,103&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6.5pt;color:#000000;' &gt;Loans and advances&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:6.5pt;color:#000000;' &gt;87,906&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:6.5pt;color:#000000;' &gt;94,240&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:6.5pt;color:#000000;' &gt;85,989&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:6.5pt;color:#000000;' &gt;97,361&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:6.5pt;color:#000000;' &gt;87,484&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:6.5pt;color:#000000;' &gt;98,478&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:129.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6.5pt;color:#000000;' &gt;Outstanding subordinated debt&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:6.5pt;color:#000000;' &gt;17,280&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:6.5pt;color:#000000;' &gt;21,256&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:6.5pt;color:#000000;' &gt;18,538&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:6.5pt;color:#000000;' &gt;22,775&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:6.5pt;color:#000000;' &gt;19,377&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:6.5pt;color:#000000;' &gt;23,732&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &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:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6.5pt;font-weight:bold;color:#004481;' &gt;Other sources&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:6.5pt;font-weight:bold;color:#004481;' &gt;449&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:6.5pt;font-weight:bold;color:#004481;' &gt;4,788&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:6.5pt;font-weight:bold;color:#004481;' &gt;3,972&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:6.5pt;font-weight:bold;color:#004481;' &gt;4,330&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:6.5pt;font-weight:bold;color:#004481;' &gt;305&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:6.5pt;font-weight:bold;color:#004481;' &gt;1,028&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Sourcesofencumbrance>
  <bbva:Matrixofresidualmaturities id="ID_3623" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='12' rowspan='1' style='width:690.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:690.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2019. Contractual maturities (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:62.25pt;' &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:center;vertical-align:middle;border-color:Black;min-width:187.5pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Demand &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Up to 1 month&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 3 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 6 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;6 to 9 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;9 to 12 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 2 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2 to 3 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 5 years &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Over 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:bottom;border-color:Black;min-width:187.5pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &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:28.5pt;' &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;Cash, cash balances at central banks and other demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20,954&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20,654&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;41,608&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17.25pt;' &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;color:#000000;' &gt;Deposits in credit entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,591&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;283&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;488&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;585&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;503&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;189&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;432&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;6,216&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &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;Deposits in other financial institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;796&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;589&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;991&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,420&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,072&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;672&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,089&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;10,084&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &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;color:#000000;' &gt;Reverse repo, securities borrowing and margin lending&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21,612&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,858&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,287&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;561&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;808&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,121&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,838&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;411&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;803&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;36,299&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17.25pt;' &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;color:#000000;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;157&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,015&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25,056&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24,994&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,777&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,404&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42,165&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35,917&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;54,772&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;122,098&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;359,354&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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;Securities&amp;#39; portfolio settlement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,622&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,873&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,620&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,292&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21,334&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,115&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,240&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46,022&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;108,136&lt;/font&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:690.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:690.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2019. 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:187.5pt;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:187.5pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Demand &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Up to 1 month&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 3 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 6 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;6 to 9 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;9 to 12 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 2 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2 to 3 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 5 years &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Over 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:bottom;border-color:Black;min-width:187.5pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&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;Wholesale funding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,393&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,208&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,645&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,386&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,328&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,608&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,803&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27,840&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;70,927&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;Deposits in financial institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,377&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,608&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;493&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;172&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,514&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;386&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;614&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;206&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;510&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;20,004&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &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;color:#000000;' &gt;Deposits in other financial institutions and international agencies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,177&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,859&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;867&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;381&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;367&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;257&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;982&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;503&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;499&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;952&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;18,843&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;Customer deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;271,638&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43,577&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18,550&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,266&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,605&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,717&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,062&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;854&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,039&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;365,321&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;color:#000000;' &gt;Security pledge funding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45,135&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,202&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,801&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,456&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;653&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,393&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,206&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;759&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,308&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;78,914&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;color:#000000;' &gt;Derivatives, net&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(66)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,097&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(830)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(278)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(333)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(420)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(838)&lt;/font&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:690.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:690.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2018. 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:187.5pt;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:187.5pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Demand &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Up to 1 month&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 3 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 6 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;6 to 9 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;9 to 12 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 2 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2 to 3 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 5 years &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Over 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:bottom;border-color:Black;min-width:187.5pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &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:27.75pt;' &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;Cash, cash balances at central banks and other demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;50,149&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17.25pt;' &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;color:#000000;' &gt;Deposits in credit entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;801&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;216&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;141&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;152&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;133&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;178&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;6,211&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &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;Deposits in other financial institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;750&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;664&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;647&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;375&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;896&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;10,515&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &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;color:#000000;' &gt;Reverse repo, securities borrowing and margin lending&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;805&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;498&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;205&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;390&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;210&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;27,539&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17.25pt;' &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;color:#000000;' &gt;Loans and Advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;132&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;349,334&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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;Securities&amp;#39; portfolio settlement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &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:690.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:690.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2018. 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:187.5pt;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:187.5pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Demand &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Up to 1 month&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 3 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 6 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;6 to 9 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;9 to 12 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 2 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2 to 3 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 5 years &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Over 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:bottom;border-color:Black;min-width:187.5pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&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;Wholesale funding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;69,858&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;Deposits in financial institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;751&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;377&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;229&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;196&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;904&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;19,544&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &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;color:#000000;' &gt;Deposits in other financial institutions and international agencies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;458&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;302&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;309&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;781&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;304&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;825&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;21,258&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;Customer deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;350,518&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;color:#000000;' &gt;Security pledge funding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;97&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;526&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;218&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;76,515&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;color:#000000;' &gt;Derivatives, net&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(75)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(523)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(68)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(117)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;498&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(91)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(67)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(392)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &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:690.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:690.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:187.5pt;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:187.5pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Demand &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Up to 1 month&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 3 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 6 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;6 to 9 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;9 to 12 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 2 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2 to 3 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 5 years &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Over 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:bottom;border-color:Black;min-width:187.5pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &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;Cash, cash balances at central banks and other demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;39,208&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;Deposits in credit entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;252&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;181&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;169&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;112&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;157&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;7,488&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;Deposits in other financial institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;939&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;758&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;796&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;628&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;447&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;681&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;806&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;8,060&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &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;color:#000000;' &gt;Reverse repo, securities borrowing and margin lending&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;541&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;426&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;815&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;727&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;226&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;26,354&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;Loans and Advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;267&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;358,028&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;Securities&amp;#39; portfolio settlement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &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:690.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:690.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:187.5pt;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:187.5pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Demand &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Up to 1 month&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 3 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 6 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;6 to 9 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;9 to 12 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 2 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2 to 3 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 5 years &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Over 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:bottom;border-color:Black;min-width:187.5pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&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;Wholesale funding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;76,535&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;color:#000000;' &gt;Deposits in financial institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;392&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;930&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;765&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;171&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;21,512&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;color:#000000;' &gt;Deposits in other financial institutions and international agencies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;554&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;963&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;286&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;355&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;25,307&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;color:#000000;' &gt;Customer deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;341,448&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;color:#000000;' &gt;Security pledge funding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;396&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;973&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;338&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;65,668&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;color:#000000;' &gt;Derivatives, net&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(110)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(116)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(135)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(117)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(336)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(91)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(106)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(419)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(1,448)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Matrixofresidualmaturities>
  <bbva:Principalgeographicalareasgdp id="ID_3624" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:8.25pt;' &gt;&lt;td colspan='13' rowspan='1' style='width:528.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;background-color:#E9E9E9;border-color:Black;min-width:528.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#02A5A5;' &gt;GDP for the main geographies&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:24.75pt;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:24.75pt;' &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:126pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:126pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:126pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:126pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:126pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:126pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:126pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:126pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:24.75pt;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:24.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Date&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP negative scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP base scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP positive scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP negative scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP base scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP positive scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP negative scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP base scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP positive scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP negative scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP base scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP positive scenario&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:24.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:24.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;0.96%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.54%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.15%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-0.58%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;0.23%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.06%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-0.60%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.32%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7.06%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.16%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.12%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.13%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:24.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:24.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.35%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.87%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.42%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;0.93%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.66%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.39%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-0.68%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.48%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &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:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.81%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.62%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:24.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:24.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.01%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.10%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.19%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.05%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.14%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.23%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.60%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.74%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.91%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.84%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.92%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.03%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:24.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:24.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2022&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.85%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.89%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.88%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.07%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.14%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.19%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.28%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.38%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.47%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.83%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.86%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.91%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:24.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:24.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2023&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.81%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.85%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.85%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.11%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.15%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.17%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.31%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.38%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.50%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.88%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.91%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.94%&lt;/font&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 style='width:24.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:24.75pt;' &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:164.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:164.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Peru&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:164.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:164.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Argentina&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:164.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:164.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Colombia&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:24.75pt;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:24.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Date&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP negative scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP base scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP positive scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP negative scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP base scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP positive scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP negative scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP base scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP positive scenario&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:24.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:24.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;0.34%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.92%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5.43%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-7.41%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-2.47%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.40%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.93%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.29%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.58%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:24.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:24.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;0.32%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.46%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.56%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-6.62%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-2.57%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;0.85%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.71%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.73%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.74%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:24.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:24.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.07%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.28%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.49%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.08%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.30%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.51%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.61%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.61%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.61%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:24.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:24.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2022&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.39%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.39%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.39%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.64%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.78%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.88%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.59%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.59%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.59%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:24.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:24.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2023&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.86%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.86%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.86%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.95%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.10%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.23%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.59%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.59%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.59%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Principalgeographicalareasgdp>
  <bbva:Guaranteedfinancialinstrumentsbasedonifrs9 id="ID_3625" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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:497.25pt;border-bottom-style:solid;border-bottom-width:1;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:8pt;color:#02A5A5;' &gt;December 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Maximum exposure to credit risk&lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:288.75pt;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:288.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Of which secured by collateral&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.25pt;' &gt;&lt;td style='width:150.75pt;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:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Residential properties&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Commercial properties&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Cash&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Others&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Financial&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150.75pt;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:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Impaired loans and advances at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,959&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,396&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;939&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;221&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;542&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:150.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:150.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;15,959&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,396&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;939&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;221&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;542&lt;/font&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:10.5pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:528.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:528.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:182.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Maximum exposure to credit risk&lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:288.75pt;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:288.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Of which secured by collateral&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.25pt;' &gt;&lt;td style='width:182.25pt;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Residential properties&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Commercial properties&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Cash&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Others&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Financial&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:182.25pt;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:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Impaired loans and advances at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,359&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,484&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,255&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;317&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;502&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:182.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:182.25pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,484&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,255&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;317&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;502&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Guaranteedfinancialinstrumentsbasedonifrs9>
  <bbva:Changesinimpairedfinancialassetsandcontingentrisks id="ID_3626" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:492pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:492pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &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: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:7pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2017&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:middle;background-color:#5AC4C4;border-color:Black;min-width:287.25pt;' &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:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;17,134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;20,590&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;23,877&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:7pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9,857&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9,792&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10,856&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:7pt;color:#000000;' &gt;Decreases (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5,874)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(6,909)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(7,771)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Net additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;3,983&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2,883&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;3,085&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:7pt;color:#000000;' &gt;Amounts written-off&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3,803)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5,076)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5,758)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:7pt;color:#000000;' &gt;Exchange differences and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(544)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,264)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(615)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &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;background-color:#5AC4C4;border-color:Black;min-width:287.25pt;' &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:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;16,770&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;17,134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;20,590&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Changesinimpairedfinancialassetsandcontingentrisks>
  <bbva:Changesinimpairedfinancialassetswrittenoff id="ID_3627" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:#02A5A5;' &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:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:219pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &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;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,712&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,986&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Decrease:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(11,039)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4,442)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:66.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:66.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(919)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(589)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(558)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:66.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(617)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(625)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(149)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Sales  (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(8,325)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(1,805)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(2,284)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:66.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(493)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(889)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(1,121)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:66.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(682)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(292)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(321)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:219pt;' &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:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;230&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;250&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(752)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:219pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;26,245&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Changesinimpairedfinancialassetswrittenoff>
  <bbva:Disclosureofsensitivityanalysislevel3assetsexplanatory id="ID_3628" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:#02A5A5;' &gt;Financial instruments Level 3 2019: 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:161.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:161.25pt;' &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:157.5pt;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:157.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Potential impact on consolidated&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt; income statement &lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:157.5pt;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:157.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Potential impact on&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:161.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Most favorable hypothesis&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Least favorable hypothesis&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Most favorable hypothesis&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Least favorable hypothesis&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &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:78.75pt;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:78.75pt;' &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:78.75pt;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:78.75pt;' &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:78.75pt;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:78.75pt;' &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:78.75pt;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:78.75pt;' &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:161.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(60)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(48)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;367&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(66)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;354&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(61)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:161.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:78.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;372&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(126)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &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:78.75pt;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:78.75pt;' &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:78.75pt;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:78.75pt;' &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:78.75pt;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:78.75pt;' &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:78.75pt;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:78.75pt;' &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:161.25pt;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:161.25pt;' &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:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;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:78.75pt;' &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:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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:Disclosureofsensitivityanalysislevel3assetsexplanatory>
  <bbva:Disclosureoffinancialinstrumentsatfairvaluebylevelsexplanatory id="ID_3629" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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:800.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:800.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#02A5A5;' &gt;Fair value of financial Instruments by levels. December 2019 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Level 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Valuation technique(s)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Observable inputs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Unobservable inputs&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Financial assets held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;70,045&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;1,508&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Funding interest rates observed in the market or in consensus services&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Funding interest rates not observed in the market or in consensus services&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33.75pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;32,321&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1,285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Debt securities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;8,178&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Observed prices in non active markets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Non active markets prices&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity instruments &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Comparable pricing (Observable price in a similar market)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Brokers quotes&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Market operations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- NAVs published&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- NAV not published&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;29,546&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:5pt;color:#000000;' &gt;Caps/Floors: Black, Hull-White y  SABR&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Bond options: Black&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Swaptions: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Other Interest rate Options: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Constant Maturity Swaps: SABR&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='5' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Beta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit correlations between tenors&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity Options: Local Volatility, Momentum adjustment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit assets correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Long term implicit correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Foreign exchange Options: Local volatility, moments adjustment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit assets correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Credit Derivatives: Default model and Gaussian copula&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Correlation default&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Credit spread&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Interest rate yield&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Commodities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Commodities: Momentum adjustment and discounted cash flows&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#DADADA;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Non-trading financial assets mandatorily at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;92&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;1,160&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:40.5pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1,038&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Specific liquidation criteria regarding losses of the EPA proceedings&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;PD and LGD of the internal models, valuations and specific criteria of the EPA proceedings &lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Discounted future cash flows&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Business plan of the underlying asset, WACC, macro scenario&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Property valuation&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:36pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;91&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;103&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Comparable pricing (Observable price in a similar market)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Brokers quotes&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Market operations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- NAVs published&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;9,203&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;1,084&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:24.75pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;9,057&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;604&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Observed prices in non active markets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Non active market prices&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;146&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;480&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Comparable pricing (Observable price in a similar market)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Brokers quotes&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Market operations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- NAVs published&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;1,685&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:49.5pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:5pt;color:#000000;' &gt;Caps/Floors: Black, Hull-White y  SABR&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Bond options: Black&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Swaptions: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Other Interest rate Options: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Constant maturity Swaps: SABR&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='5' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#D9D9D9;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity Options: Local volatility, Momentum adjustment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#D9D9D9;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Foreign exchange Options: Local volatility, moments adjustment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#D9D9D9;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Credit Derivatives: Default model and Gaussian copula&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#D9D9D9;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Commodities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Commodities: Momentum adjustment and Discounted cash flows&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#D9D9D9;' &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:800.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:800.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#02A5A5;' &gt;Fair Value of financial Instruments by Levels. December 2019 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Level 2&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Valuation technique(s)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Observable inputs&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Financial liabilities held for trading &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;62,541&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;827&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:42.75pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;32,121&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;649&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Interest rate yield&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Funding interest rates observed in the market or in consensus services&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Funding interest rates not observed in the market or in consensus services&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;30,419&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;175&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;background-color:#DADADA;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:49.5pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:5pt;color:#000000;' &gt;Caps/Floors: Black, Hull-White y  SABR&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Bond options: Black&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Swaptions: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Other Interest rate Options: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Constant Maturity Swaps: SABR&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='5' style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Beta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Correlation between tenors&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity Options: Local volatility, momentum adjustment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Foreign exchange Options: Local volatility, moments adjustment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Credit Derivatives: Default model and Gaussian copula&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Correlation default&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Credit spread&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Interest rate yield&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Commodities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Commodities: Momentum adjustment and discounted cash flows&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;background-color:#DADADA;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Short positions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#DADADA;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Financial liabilities designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;9,984&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Derivatives &amp;#8211; Hedge accounting&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;2,192&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:49.5pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:5pt;color:#000000;' &gt;Caps/Floors: Black, Hull-White y  SABR&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Bond options: Black&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Swaptions: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Other Interest rate Options: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Constant Maturity Swaps: SABR&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='5' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Beta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit correlations between tenors&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity Options: Local volatility, momentum adjustment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit assets correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Long term implicit correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Foreign exchange Options: Local Volatility, moments adjustment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit assets correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Credit Derivatives: Default model and Gaussian copula&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Correlation default&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Credit spread&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Interest rate yield&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Commodities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Commodities: Momentum adjustment and discounted cash flows&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#DADADA;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:9.75pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:800.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:800.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#02A5A5;' &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:9.75pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Level 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Valuation technique(s)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Observable inputs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Unobservable inputs&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Financial assets held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;62,983&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;404&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Funding interest rates observed in the market or in consensus services&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;28,642&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Debt securities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;7,494&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;199&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Observed prices in non active markets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Non active markets prices&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity instruments &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Comparable pricing (Observable price in a similar market)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Brokers quotes&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Market operations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- NAVs published&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- NAV provided by the administrator of the funds&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;26,846&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;85&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:66pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:5pt;color:#000000;' &gt;Caps/Floors: Black, Hull-White y  SABR&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Bond options: Black&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Swaptions: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Other Interest rate Options: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Constant Maturity Swaps: SABR&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='5' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Beta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit correlations between tenors&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity Options: Local Volatility, Momentum adjustment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit assets correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Long term implicit correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit dividends and long term repos&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Foreign exchange Options: Local volatility, moments adjustment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit assets correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Credit Derivatives: Default model and Gaussian copula&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Correlation default&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Credit spread&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Interest rate yield&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Default volatility&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Commodities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Commodities: Momentum adjustment and discounted cash flows&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#DADADA;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Non-trading financial assets mandatorily at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;1,929&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1,778&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- PD and LGD&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;75&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;9,323&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;1,190&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:24.75pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;9,211&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;711&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Observed prices in non active markets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Non active market prices&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;479&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Comparable pricing (Observable price in a similar market)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Brokers quotes&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Market operations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- NAVs published&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- NAV provided by the administrator of the fund&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;2,882&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:66pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:5pt;color:#000000;' &gt;Caps/Floors: Black, Hull-White y  SABR&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Bond options: Black&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Swaptions: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Other Interest rate Options: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Constant maturity Swaps: SABR&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='5' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#D9D9D9;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity Options: Local volatility, Momentum adjustment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#D9D9D9;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Foreign exchange Options: Local volatility, moments adjustment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#D9D9D9;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Credit Derivatives: Default model and Gaussian copula&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#D9D9D9;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Commodities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Commodities: Momentum adjustment and Discounted cash flows&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#D9D9D9;' &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='6' rowspan='1' style='width:800.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:800.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#02A5A5;' &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:12pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Level 2&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Valuation technique(s)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Observable inputs&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Unobservable inputs&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Financial liabilities held for trading &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;57,573&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:12.75pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;29,945&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;27,628&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;267&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;background-color:#DADADA;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:66pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:5pt;color:#000000;' &gt;Caps/Floors: Black, Hull-White y  SABR&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Bond options: Black&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Swaptions: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Other Interest rate Options: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Constant Maturity Swaps: SABR&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='5' style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Beta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Correlation between tenors&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity Options: Local volatility, momentum adjustment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Assets correlation&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Foreign exchange Options: Local volatility, moments adjustment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Credit Derivatives: Default model and Gaussian copula&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Correlation default&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Credit spread&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Interest rate yield&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Default volatility&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Commodities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Commodities: Momentum adjustment and discounted cash flows&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;background-color:#DADADA;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Short positions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Correlation default&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Credit spread&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Financial liabilities designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;4,478&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;2,515&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Derivatives &amp;#8211; Hedge accounting&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;2,454&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:74.25pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:5pt;color:#000000;' &gt;Caps/Floors: Black, Hull-White y  SABR&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Bond options: Black&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Swaptions: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Other Interest rate Options: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Constant Maturity Swaps: SABR&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='5' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Beta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit correlations between tenors&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity Options: Local volatility, momentum adjustment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit assets correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Long term implicit correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit dividends and long term repos&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Foreign exchange Options: Local Volatility, moments adjustment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit assets correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Credit Derivatives: Default model and Gaussian copula&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Correlation default&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Credit spread&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Interest rate yield&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Default volatility&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Commodities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Commodities: Momentum adjustment and discounted cash flows&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;background-color:#DADADA;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureoffinancialinstrumentsatfairvaluebylevelsexplanatory>
  <ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory id="ID_3630" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:432pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:432pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#02A5A5;' &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:229.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:101.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:101.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:101.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:101.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:229.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:229.5pt;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:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;ASSETS-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &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:8.25pt;' &gt;&lt;td style='width:229.5pt;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:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Financial assets held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;31,135&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;70,045&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;1,508&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;26,730&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;62,983&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;404&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:229.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:229.5pt;' &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:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;697&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;32,321&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &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:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &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:229.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;18,076&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,178&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:229.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,832&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:229.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,530&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;29,546&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:24.75pt;' &gt;&lt;td style='width:229.5pt;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:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Non-trading financial assets mandatorily at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;4,305&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;92&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;1,160&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;3,127&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;1,929&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:229.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:229.5pt;' &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:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;82&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,038&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &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:229.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;91&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:229.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,223&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;103&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:16.5pt;' &gt;&lt;td style='width:229.5pt;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:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Financial assets designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;1,214&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;1,313&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &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:8.25pt;' &gt;&lt;td style='width:229.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,214&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:16.5pt;' &gt;&lt;td style='width:229.5pt;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:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;50,896&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;9,203&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;1,084&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;45,824&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;9,323&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;1,190&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:229.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:229.5pt;' &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:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &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:8.25pt;' &gt;&lt;td style='width:229.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;49,070&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9,057&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;604&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:229.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,794&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;146&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;480&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:229.5pt;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:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;44&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;1,685&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;2,882&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:229.5pt;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:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;LIABILITIES-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &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:8.25pt;' &gt;&lt;td style='width:229.5pt;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:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Financial liabilities held for trading &lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;26,266&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;62,541&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;827&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;22,932&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;57,573&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;269&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:229.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9,595&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;32,121&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;649&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &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:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &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:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &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:8.25pt;' &gt;&lt;td style='width:229.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,425&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;30,419&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;175&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:229.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12,246&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:16.5pt;' &gt;&lt;td style='width:229.5pt;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:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Financial liabilities designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;9,984&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;4,478&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;2,515&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:229.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:229.5pt;' &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:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;944&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;976&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &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:8.25pt;' &gt;&lt;td style='width:229.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,629&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:8.25pt;' &gt;&lt;td style='width:229.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,410&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;643&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:229.5pt;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:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Derivatives &amp;#8211; Hedge accounting&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;2,192&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;223&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;2,454&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &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='4' rowspan='1' style='width:441pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:441pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#02A5A5;' &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:308.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#094FA4;' &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:6pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:308.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:308.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 1&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:center;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 2&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:center;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;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:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;ASSETS-&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:6pt;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:6pt;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:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;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:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004581;' &gt;Financial assets held for trading&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:6pt;font-weight:bold;color:#004581;' &gt;29,057&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:6pt;font-weight:bold;color:#004581;' &gt;35,349&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:6pt;font-weight:bold;color:#004581;' &gt;289&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:308.25pt;' &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: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:6pt;color:#000000;' &gt;-&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:6pt;color:#000000;' &gt;56&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:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:308.25pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:8.25pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:308.25pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;80&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:6pt;color:#000000;' &gt;1,262&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:6pt;color:#000000;' &gt;33,815&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:6pt;color:#000000;' &gt;187&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;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:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004581;' &gt;Financial assets designated at fair value through profit or loss&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:6pt;font-weight:bold;color:#004581;' &gt;2,061&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:6pt;font-weight:bold;color:#004581;' &gt;648&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:6pt;font-weight:bold;color:#004581;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:308.25pt;' &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: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:6pt;color:#000000;' &gt;-&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:6pt;color:#000000;' &gt;648&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:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:308.25pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;174&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:308.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:308.25pt;' &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:44.25pt;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:6pt;color:#000000;' &gt;1,888&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;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:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004581;' &gt;Available-for-sale financial assets &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:6pt;font-weight:bold;color:#004581;' &gt;57,381&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:6pt;font-weight:bold;color:#004581;' &gt;11,082&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:6pt;font-weight:bold;color:#004581;' &gt;544&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:308.25pt;' &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: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:6pt;color:#000000;' &gt;54,850&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:6pt;color:#000000;' &gt;10,948&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:6pt;color:#000000;' &gt;454&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:308.25pt;' &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:44.25pt;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:6pt;color:#000000;' &gt;2,531&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:6pt;color:#000000;' &gt;134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:6pt;color:#000000;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;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:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004581;' &gt;Hedging derivatives&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:6pt;font-weight:bold;color:#004581;' &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:6pt;font-weight:bold;color:#004581;' &gt;2,483&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:6pt;font-weight:bold;color:#004581;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;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:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;LIABILITIES-&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:6pt;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:6pt;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:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;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:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004581;' &gt;Financial liabilities held for trading &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:6pt;font-weight:bold;color:#004581;' &gt;11,191&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:6pt;font-weight:bold;color:#004581;' &gt;34,866&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:6pt;font-weight:bold;color:#004581;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Derivatives&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:6pt;color:#000000;' &gt;1,183&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:6pt;color:#000000;' &gt;34,866&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:6pt;color:#000000;' &gt;119&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:308.25pt;' &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:44.25pt;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:6pt;color:#000000;' &gt;10,008&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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: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:308.25pt;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:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004581;' &gt;Financial liabilities designated at fair value through profit or loss&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:6pt;font-weight:bold;color:#004581;' &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:6pt;font-weight:bold;color:#004581;' &gt;2,222&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:6pt;font-weight:bold;color:#004581;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;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:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004581;' &gt;Derivatives &amp;#8211; Hedge accounting&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:6pt;font-weight:bold;color:#004581;' &gt;274&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:6pt;font-weight:bold;color:#004581;' &gt;2,606&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:6pt;font-weight:bold;color:#004581;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory>
  <bbva:Disclosureoffairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsexplanatory id="ID_3631" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:346.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:346.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#02A5A5;' &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:135pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:135pt;' &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:105.75pt;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:105.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:105.75pt;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:105.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:135pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:135pt;' &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;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:#072146;' &gt;Level 1&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:#072146;' &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: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:#072146;' &gt;Level 3&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:#072146;' &gt;Level 1&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:#072146;' &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: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:#072146;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &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:#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:6pt;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:6pt;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:6pt;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:6pt;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:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &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: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;44,111&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;192&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;58,024&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;172&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:135pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &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: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;29,391&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;217,279&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;196,119&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;21,419&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;204,619&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;193,819&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &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:#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:6pt;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:6pt;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:6pt;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:6pt;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:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &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: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;67,229&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;289,599&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;159,082&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;58,225&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;269,128&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;182,948&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureoffairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsexplanatory>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_3632" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OndemandandshortnoticeMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_ByproductMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_3633" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_CreditcarddebtMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_ByproductMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_3634" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_FinanceleasesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_ByproductMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_3635" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_ReverserepurchaseagreementsMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_ByproductMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_3636" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OthertermloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_ByproductMember" unitRef="EUR" decimals="INF">4240000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_3637" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_AdvancesthatarenotloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_ByproductMember" unitRef="EUR" decimals="INF">35000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_3638" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_TotalmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CentralbanksMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_ByproductMember" unitRef="EUR" decimals="INF">4275000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_3639" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OndemandandshortnoticeMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_ByproductMember" unitRef="EUR" decimals="INF">9000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_3640" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_CreditcarddebtMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_ByproductMember" unitRef="EUR" decimals="INF">10000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_3641" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_ifrs-full_TradeReceivablesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_ByproductMember" unitRef="EUR" decimals="INF">971000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_3642" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_FinanceleasesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_ByproductMember" unitRef="EUR" decimals="INF">227000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_3643" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_ReverserepurchaseagreementsMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_ByproductMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_3644" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OthertermloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_ByproductMember" unitRef="EUR" decimals="INF">26734000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_3645" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_AdvancesthatarenotloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_ByproductMember" unitRef="EUR" decimals="INF">865000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_3646" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_TotalmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_GeneralgovernmentMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_ByproductMember" unitRef="EUR" decimals="INF">28816000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_3647" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OndemandandshortnoticeMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_ByproductMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_3648" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_CreditcarddebtMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_ByproductMember" unitRef="EUR" decimals="INF">1000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_3649" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_ifrs-full_TradeReceivablesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_ByproductMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_3650" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_FinanceleasesMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_ByproductMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_3651" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_ReverserepurchaseagreementsMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_ByproductMember" unitRef="EUR" decimals="INF">1817000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_3652" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OthertermloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_ByproductMember" unitRef="EUR" decimals="INF">4121000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_3653" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_AdvancesthatarenotloansMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_ByproductMember" unitRef="EUR" decimals="INF">7743000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_3654" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_TotalmemberMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_CreditinstitutionsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_ByproductMember" unitRef="EUR" decimals="INF">13682000000</bbva:Loansandadvancesnetofimpairmentlosses>
  <bbva:Loansandadvancesnetofimpairmentlosses id="ID_3655" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesnetofimpairmentlossesaxisAxis_bbva_OndemandandshortnoticeMember_bbva_LoansandadvancesnetofimpairmentlossesbycounterpartyaxisAxis_bbva_OtherfinancialinstitutionsMember_bbva_LoansandadvancesnetofimpairmentlossesbytypeofinstrumentaxisAxis_bbva_ByproductMember" unitRef="EUR" decimals="INF">118000000</bbva:Loansandadvancesnetofimpairmentlosses>
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  <bbva:Probabilityofdefaultinbasispoints id="ID_3974" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBMinusRatingMember">785</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_3975" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBMinusRatingMember">581</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_3976" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsBMinusRatingMember">1,061</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_3977" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCCPlusRatingMember">1,191</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_3978" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCCPlusRatingMember">1,061</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_3979" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCCPlusRatingMember">1,336</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_3980" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCCRatingMember">1,500</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_3981" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCCRatingMember">1,336</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_3982" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCCRatingMember">1,684</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_3983" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCCMinusRatingMember">1,890</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_3984" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCCMinusRatingMember">1,684</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_3985" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCCMinusRatingMember">2,121</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_3986" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_bbva_StandardpoorsccplusratingmemberMember">2,381</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_3987" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_bbva_StandardpoorsccplusratingmemberMember">2,121</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_3988" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_bbva_StandardpoorsccplusratingmemberMember">2,673</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_3989" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCRatingMember">3,000</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_3990" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCRatingMember">2,673</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_3991" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_srt_StandardPoorsCCRatingMember">3,367</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_3992" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_DisclosureofscaleaxisAxis_bbva_AverageMember_ifrs-full_InternalCreditGradesAxis_bbva_BelowratingmemberMember">3,780</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_3993" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_DisclosureofscaleaxisAxis_srt_MinimumMember_ifrs-full_InternalCreditGradesAxis_bbva_BelowratingmemberMember">3,367</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_3994" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofexternalcreditexposuresaxisAxis_ifrs-full_ProbabilityOfDefaultMember_bbva_DisclosureofscaleaxisAxis_bbva_MaximunMember_ifrs-full_InternalCreditGradesAxis_bbva_BelowratingmemberMember">4,243</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_3995" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_Subjectto12montheclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from0to2Member">5.5</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_3996" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_SubjecttolifetimeeclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from0to2Member">-</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_3997" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_Subjectto12montheclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from2to5Member">6.3</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_3998" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_SubjecttolifetimeeclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from2to5Member">-</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_3999" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_Subjectto12montheclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from5to11Member">14.6</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4000" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_SubjecttolifetimeeclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from5to11Member">0.2</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4001" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_Subjectto12montheclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from11to39Member">24.5</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4002" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_SubjecttolifetimeeclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from11to39Member">0.8</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4003" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_Subjectto12montheclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from39to194Member">24.5</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4004" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_SubjecttolifetimeeclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from39to194Member">1.6</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4005" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_Subjectto12montheclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from194to1061Member">14.0</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4006" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_SubjecttolifetimeeclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from194to1061Member">3.6</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4007" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_Subjectto12montheclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from1061to2121Member">1.4</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4008" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_SubjecttolifetimeeclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from1061to2121Member">1.2</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4009" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_Subjectto12montheclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from2121to4243Member">0.4</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4010" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_SubjecttolifetimeeclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from2121to4243Member">1.5</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4011" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_Subjectto12montheclMember">91.0</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4012" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_SubjecttolifetimeeclMember">9.0</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4013" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_Subjectto12montheclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from0to2Member">9.6</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4014" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_SubjecttolifetimeeclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from0to2Member">-</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4015" 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_4016" 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_4017" 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_4018" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_SubjecttolifetimeeclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from5to11Member">-</bbva:Probabilityofdefaultinbasispoints>
  <bbva:Probabilityofdefaultinbasispoints id="ID_4019" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofprobabilityofdefaultaxisAxis_bbva_Subjectto12montheclMember_bbva_ProbabilityofdefaultinbasicpointsAxis_bbva_from11to39Member">20.9</bbva:Probabilityofdefaultinbasispoints>
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  <bbva:Probabilityofdefaultinbasispoints id="ID_4022" 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_4023" 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_4024" 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_4025" 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_4026" 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_4027" 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:Mortalitytable id="ID_4034" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_MatematicalreservesgeographyAxis_country_MX_bbva_MatematicalreservesinsurancetypeAxis_bbva_SavingsinsuranceMember">Tables of the Comisi&#243;n Nacional de Seguros y Fianzas 2000-grupo</bbva:Mortalitytable>
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  <bbva:Preferredsecurities id="ID_4042" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">181000000</bbva:Preferredsecurities>
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  <ifrs-full:TransfersOutOfLevel3OfFairValueHierarchyAssets id="ID_4355" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersOutOfLevel3OfFairValueHierarchyAssets>
  <ifrs-full:TransfersOutOfLevel3OfFairValueHierarchyAssets id="ID_4356" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">454000000</ifrs-full:TransfersOutOfLevel3OfFairValueHierarchyAssets>
  <ifrs-full:TransfersOutOfLevel3OfFairValueHierarchyAssets id="ID_4357" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_ifrs-full_DerivativesMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">10000000</ifrs-full:TransfersOutOfLevel3OfFairValueHierarchyAssets>
  <ifrs-full:TransfersOutOfLevel3OfFairValueHierarchyAssets id="ID_4358" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_TotalMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">667000000</ifrs-full:TransfersOutOfLevel3OfFairValueHierarchyAssets>
  <ifrs-full:Assets id="ID_4359" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsassetsaxisAxis_bbva_AvailableforsalefinancialassetsMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">57381000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_4360" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsassetsaxisAxis_bbva_AvailableforsalefinancialassetsMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">11082000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_4361" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsassetsaxisAxis_bbva_AvailableforsalefinancialassetsMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">544000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_4362" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsassetsaxisAxis_bbva_AvailableforsalefinancialassetsMember_ifrs-full_ClassesOfFinancialInstrumentsAxis_ifrs-full_DebtSecuritiesMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">54850000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_4363" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsassetsaxisAxis_bbva_AvailableforsalefinancialassetsMember_ifrs-full_ClassesOfFinancialInstrumentsAxis_ifrs-full_DebtSecuritiesMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">10948000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_4364" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsassetsaxisAxis_bbva_AvailableforsalefinancialassetsMember_ifrs-full_ClassesOfFinancialInstrumentsAxis_ifrs-full_DebtSecuritiesMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">454000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_4365" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsassetsaxisAxis_bbva_AvailableforsalefinancialassetsMember_ifrs-full_ClassesOfFinancialInstrumentsAxis_bbva_EquityinstrumentsMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">2531000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_4366" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsassetsaxisAxis_bbva_AvailableforsalefinancialassetsMember_ifrs-full_ClassesOfFinancialInstrumentsAxis_bbva_EquityinstrumentsMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">134000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_4367" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_FinancialinstrumentsatfairvaluebylevelsassetsaxisAxis_bbva_AvailableforsalefinancialassetsMember_ifrs-full_ClassesOfFinancialInstrumentsAxis_bbva_EquityinstrumentsMember_ifrs-full_LevelsOfFairValueHierarchyAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">90000000</ifrs-full:Assets>
  <bbva:Noncontrolinginterestexplanatory id="ID_4368" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:393pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:393pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Non-controlling interests: breakdown by subgroups (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td style='width:224.25pt;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:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#44546A;' &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:#072146;' &gt;2019&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:#072146;' &gt;2018&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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Garanti BBVA&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,240&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:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-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;4,903&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Peru&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;1,334&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;1,167&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;1,059&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Argentina&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;422&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;352&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;420&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Colombia&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;76&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;67&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;65&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Venezuela&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;71&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;67&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;78&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:224.25pt;' &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: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;57&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;53&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;454&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:224.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,201&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Noncontrolinginterestexplanatory>
  <bbva:Profitatributabletononcontrolinginterest id="ID_4369" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:393pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:393pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Profit attributable to non-controlling interests (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td style='width:224.25pt;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:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#44546A;' &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:#072146;' &gt;2019&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:#072146;' &gt;2018&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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Garanti BBVA&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;524&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;585&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;border-top-style:solid;border-top-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;883&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Peru&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;236&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;227&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;208&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Argentina&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;60&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;(18)&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;93&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Colombia&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;11&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&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;7&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Venezuela&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;(1)&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;(5)&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;(2)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &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: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;4&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;30&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;55&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:224.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;833&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,243&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Profitatributabletononcontrolinginterest>
  <bbva:Loancommitmentsfinancialguaranteesandothercommitments id="ID_4370" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:8pt;color:#02A5A5;' &gt;Commitments and guarantees given (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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: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:#072146;' &gt;Notes&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:#072146;' &gt;2019&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:#072146;' &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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:303pt;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:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Loan commitments given&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;7.1.2&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;130,923&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;118,959&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;94,268&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which: defaulted&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;font-style:italic;color:#666666;' &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;font-style:italic;color:#787878;' &gt;270&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;font-style:italic;color:#787878;' &gt;247&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;font-style:italic;color:#787878;' &gt;537&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;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:#787878;' &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;td style='width:49.5pt;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&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;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:#787878;' &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;3,117&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;2,318&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;2,198&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;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:#787878;' &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;11,742&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;9,635&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;946&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;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:#787878;' &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;4,578&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;5,664&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;3,795&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;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:#787878;' &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;65,475&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;58,405&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;font-style:italic;color:#000000;' &gt;58,133&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Households &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:#787878;' &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;46,011&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;42,936&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;29,195&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:303pt;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:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Financial guarantees given (*) &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;7.1.2&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;10,984&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;16,454&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;16,545&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which: defaulted&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:#666666;' &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;font-style:italic;color:#787878;' &gt;224&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;font-style:italic;color:#787878;' &gt;332&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;font-style:italic;color:#787878;' &gt;278&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#787878;' &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;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: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:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#787878;' &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;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;248&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#787878;' &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;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;1,274&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;1,158&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#787878;' &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;583&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;730&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;3,105&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#787878;' &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;8,986&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;13,970&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;11,518&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Households &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:#787878;' &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;295&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;319&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;516&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:303pt;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:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Other commitments given &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;7.1.2&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;39,209&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;35,098&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;45,738&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which: defaulted&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;font-style:italic;color:#666666;' &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;font-style:italic;color:#787878;' &gt;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;font-style:italic;color:#787878;' &gt;408&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;font-style:italic;color:#787878;' &gt;461&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;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:#787878;' &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;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:8pt;font-style:italic;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:8pt;font-style:italic;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;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:#787878;' &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;521&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;248&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;227&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;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:#787878;' &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;5,952&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;5,875&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;15,330&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;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:#787878;' &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;2,902&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;2,990&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;font-style:italic;color:#000000;' &gt;3,820&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;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:#787878;' &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;29,682&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;25,723&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;25,992&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Households &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:#787878;' &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;151&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;261&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;362&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total commitments and guarantees given&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:#5AC4C4;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7.1.2&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:#5AC4C4;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;181,116&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:#5AC4C4;border-color:Black;min-width:49.5pt;' &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: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:#5AC4C4;border-color:Black;min-width:49.5pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Loancommitmentsfinancialguaranteesandothercommitments>
  <bbva:Purchaseandsalecommitments id="ID_4371" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:#02A5A5;' &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: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:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&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:middle;background-color:#5AC4C4;border-color:Black;min-width:287.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;45,956&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &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;/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;Financial liabilities held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;41,902&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;7,635&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;10,511&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;24,578&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;14,839&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;9,689&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;11,466&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;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;Financial liabilities at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,054&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40,077&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;826&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;375&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;6,155&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;2,693&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;4,593&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;24,843&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:middle;border-color:Black;min-width:287.25pt;' &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:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;535&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;1,209&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;9,079&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:middle;background-color:#5AC4C4;border-color:Black;min-width:287.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;35,784&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &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;/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;Financial assets held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33,941&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;535&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;2,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;21,219&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;13,305&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;12,187&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;11,794&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;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;Financial assets at amortized cost &lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,843&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;772&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,368&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;305&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;1,817&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;478&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;13,861&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;12,202&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Purchaseandsalecommitments>
  <bbva:Maturityoffuturepaymentobligations id="ID_4372" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:406.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:406.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Maturity of future payment obligations (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:114pt;' &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:58.5pt;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:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Up to 1 year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;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:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 3 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;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:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;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:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Over 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;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:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:114pt;' &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:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &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:15pt;' &gt;&lt;td style='width:114pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:114pt;' &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:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &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:15pt;' &gt;&lt;td style='width:114pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:114pt;' &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:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &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:15pt;' &gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:114pt;' &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:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &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:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &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:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &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:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &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:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Maturityoffuturepaymentobligations>
  <bbva:Tableoftransactionsonbehalfofthirdparties id="ID_4373" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:8pt;color:#02A5A5;' &gt;Transactions on behalf of third parties. Breakdown by concepts (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;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:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#44546A;' &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:#072146;' &gt;2019&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:#072146;' &gt;2018&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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:308.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:308.25pt;' &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:56.25pt;border-top-style:solid;border-top-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;693,377&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:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-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;624,822&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:308.25pt;' &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: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;13,133&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;13,484&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;14,775&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:308.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:308.25pt;' &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: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;7,129&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;4,866&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;5,485&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:308.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:308.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;713,639&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableoftransactionsonbehalfofthirdparties>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_4374" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_GroupsAxis_bbva_GrupogarantiturkiyebankasiMember" unitRef="EUR" decimals="INF">524000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_4375" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_GroupsAxis_bbva_BbvaperuMember" unitRef="EUR" decimals="INF">236000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_4376" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_GroupsAxis_bbva_BbvaargentinaMember" unitRef="EUR" decimals="INF">60000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_4377" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvacolombiaMember" unitRef="EUR" decimals="INF">11000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_4378" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_GroupsAxis_bbva_BbvavenezuelaMember" unitRef="EUR" decimals="INF">-1000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_4379" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_GroupsAxis_bbva_OtherMember" unitRef="EUR" decimals="INF">4000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_4380" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_GroupsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">833000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_4381" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_GrupogarantiturkiyebankasiMember" unitRef="EUR" decimals="INF">883000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_4382" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_BbvaperuMember" unitRef="EUR" decimals="INF">208000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_4383" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_BbvaargentinaMember" unitRef="EUR" decimals="INF">93000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_4384" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvacolombiaMember" unitRef="EUR" decimals="INF">7000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_4385" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_BbvavenezuelaMember" unitRef="EUR" decimals="INF">-2000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_4386" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_OtherMember" unitRef="EUR" decimals="INF">55000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_4387" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">1243000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_4388" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_GrupogarantiturkiyebankasiMember" unitRef="EUR" decimals="INF">585000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_4389" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_BbvaperuMember" unitRef="EUR" decimals="INF">227000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_4390" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_BbvaargentinaMember" unitRef="EUR" decimals="INF">-18000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_4391" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvacolombiaMember" unitRef="EUR" decimals="INF">9000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_4392" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_BbvavenezuelaMember" unitRef="EUR" decimals="INF">-5000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_4393" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_OtherMember" unitRef="EUR" decimals="INF">30000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <ifrs-full:ProfitLossAttributableToNoncontrollingInterests id="ID_4394" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">827000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
  <bbva:Noncontrollinginterest id="ID_4395" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_GroupsAxis_bbva_GrupogarantiturkiyebankasiMember" unitRef="EUR" decimals="INF">4240000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_4396" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_GroupsAxis_bbva_BbvaperuMember" unitRef="EUR" decimals="INF">1334000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_4397" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_GroupsAxis_bbva_BbvaargentinaMember" unitRef="EUR" decimals="INF">422000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_4398" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvacolombiaMember" unitRef="EUR" decimals="INF">76000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_4399" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_GroupsAxis_bbva_BbvavenezuelaMember" unitRef="EUR" decimals="INF">71000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_4400" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_GroupsAxis_bbva_OtherMember" unitRef="EUR" decimals="INF">57000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_4401" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_GroupsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">6201000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_4402" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_GrupogarantiturkiyebankasiMember" unitRef="EUR" decimals="INF">4058000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_4403" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_BbvaperuMember" unitRef="EUR" decimals="INF">1167000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_4404" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_BbvaargentinaMember" unitRef="EUR" decimals="INF">352000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_4405" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvacolombiaMember" unitRef="EUR" decimals="INF">67000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_4406" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_BbvavenezuelaMember" unitRef="EUR" decimals="INF">67000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_4407" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_OtherMember" unitRef="EUR" decimals="INF">53000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_4408" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_GroupsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">5764000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_4409" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_GrupogarantiturkiyebankasiMember" unitRef="EUR" decimals="INF">4903000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_4410" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_BbvaperuMember" unitRef="EUR" decimals="INF">1059000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_4411" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_BbvaargentinaMember" unitRef="EUR" decimals="INF">420000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_4412" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_GrupobbvacolombiaMember" unitRef="EUR" decimals="INF">65000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_4413" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_BbvavenezuelaMember" unitRef="EUR" decimals="INF">78000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_4414" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_OtherMember" unitRef="EUR" decimals="INF">454000000</bbva:Noncontrollinginterest>
  <bbva:Noncontrollinginterest id="ID_4415" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_GroupsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">6979000000</bbva:Noncontrollinginterest>
  <bbva:Loancommitmentsgiven id="ID_4416" contextRef="AS_OF_Dec31_2019_Entity_0000842180_ifrs-full_TypesOfCustomersAxis_bbva_DefaultedMember" unitRef="EUR" decimals="INF">270000000</bbva:Loancommitmentsgiven>
  <bbva:Loancommitmentsgiven id="ID_4417" contextRef="AS_OF_Dec31_2018_Entity_0000842180_ifrs-full_TypesOfCustomersAxis_bbva_DefaultedMember" unitRef="EUR" decimals="INF">247000000</bbva:Loancommitmentsgiven>
  <bbva:Loancommitmentsgiven id="ID_4418" contextRef="AS_OF_Dec31_2017_Entity_0000842180_ifrs-full_TypesOfCustomersAxis_bbva_DefaultedMember" unitRef="EUR" decimals="INF">537000000</bbva:Loancommitmentsgiven>
  <bbva:Loancommitmentsgiven id="ID_4419" contextRef="AS_OF_Dec31_2019_Entity_0000842180_ifrs-full_TypesOfCustomersAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">0</bbva:Loancommitmentsgiven>
  <bbva:Loancommitmentsgiven id="ID_4420" contextRef="AS_OF_Dec31_2018_Entity_0000842180_ifrs-full_TypesOfCustomersAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">0</bbva:Loancommitmentsgiven>
  <bbva:Loancommitmentsgiven id="ID_4421" contextRef="AS_OF_Dec31_2017_Entity_0000842180_ifrs-full_TypesOfCustomersAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">1000000</bbva:Loancommitmentsgiven>
  <bbva:Loancommitmentsgiven id="ID_4422" contextRef="AS_OF_Dec31_2019_Entity_0000842180_ifrs-full_TypesOfCustomersAxis_ifrs-full_GovernmentMember" unitRef="EUR" decimals="INF">3117000000</bbva:Loancommitmentsgiven>
  <bbva:Loancommitmentsgiven id="ID_4423" contextRef="AS_OF_Dec31_2018_Entity_0000842180_ifrs-full_TypesOfCustomersAxis_ifrs-full_GovernmentMember" unitRef="EUR" decimals="INF">2318000000</bbva:Loancommitmentsgiven>
  <bbva:Loancommitmentsgiven id="ID_4424" contextRef="AS_OF_Dec31_2017_Entity_0000842180_ifrs-full_TypesOfCustomersAxis_ifrs-full_GovernmentMember" unitRef="EUR" decimals="INF">2198000000</bbva:Loancommitmentsgiven>
  <bbva:Loancommitmentsgiven id="ID_4425" contextRef="AS_OF_Dec31_2019_Entity_0000842180_ifrs-full_TypesOfCustomersAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="INF">11742000000</bbva:Loancommitmentsgiven>
  <bbva:Loancommitmentsgiven id="ID_4426" contextRef="AS_OF_Dec31_2018_Entity_0000842180_ifrs-full_TypesOfCustomersAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="INF">9635000000</bbva:Loancommitmentsgiven>
  <bbva:Loancommitmentsgiven id="ID_4427" contextRef="AS_OF_Dec31_2017_Entity_0000842180_ifrs-full_TypesOfCustomersAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="INF">946000000</bbva:Loancommitmentsgiven>
  <bbva:Loancommitmentsgiven id="ID_4428" contextRef="AS_OF_Dec31_2019_Entity_0000842180_ifrs-full_TypesOfCustomersAxis_bbva_OtherfinancialcorporationsMember" unitRef="EUR" decimals="INF">4578000000</bbva:Loancommitmentsgiven>
  <bbva:Loancommitmentsgiven id="ID_4429" contextRef="AS_OF_Dec31_2018_Entity_0000842180_ifrs-full_TypesOfCustomersAxis_bbva_OtherfinancialcorporationsMember" unitRef="EUR" decimals="INF">5664000000</bbva:Loancommitmentsgiven>
  <bbva:Loancommitmentsgiven id="ID_4430" contextRef="AS_OF_Dec31_2017_Entity_0000842180_ifrs-full_TypesOfCustomersAxis_bbva_OtherfinancialcorporationsMember" unitRef="EUR" decimals="INF">3795000000</bbva:Loancommitmentsgiven>
  <bbva:Loancommitmentsgiven id="ID_4431" contextRef="AS_OF_Dec31_2019_Entity_0000842180_ifrs-full_TypesOfCustomersAxis_bbva_NonfinancialcorporationsMember" unitRef="EUR" decimals="INF">65475000000</bbva:Loancommitmentsgiven>
  <bbva:Loancommitmentsgiven id="ID_4432" contextRef="AS_OF_Dec31_2018_Entity_0000842180_ifrs-full_TypesOfCustomersAxis_bbva_NonfinancialcorporationsMember" unitRef="EUR" decimals="INF">58405000000</bbva:Loancommitmentsgiven>
  <bbva:Loancommitmentsgiven id="ID_4433" contextRef="AS_OF_Dec31_2017_Entity_0000842180_ifrs-full_TypesOfCustomersAxis_bbva_NonfinancialcorporationsMember" unitRef="EUR" decimals="INF">58133000000</bbva:Loancommitmentsgiven>
  <bbva:Loancommitmentsgiven id="ID_4434" contextRef="AS_OF_Dec31_2019_Entity_0000842180_ifrs-full_TypesOfCustomersAxis_bbva_HouseholdsMember" unitRef="EUR" decimals="INF">46011000000</bbva:Loancommitmentsgiven>
  <bbva:Loancommitmentsgiven id="ID_4435" contextRef="AS_OF_Dec31_2018_Entity_0000842180_ifrs-full_TypesOfCustomersAxis_bbva_HouseholdsMember" unitRef="EUR" decimals="INF">42936000000</bbva:Loancommitmentsgiven>
  <bbva:Loancommitmentsgiven id="ID_4436" contextRef="AS_OF_Dec31_2017_Entity_0000842180_ifrs-full_TypesOfCustomersAxis_bbva_HouseholdsMember" unitRef="EUR" decimals="INF">29195000000</bbva:Loancommitmentsgiven>
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  <bbva:Percentagesharecapitalofpledgeshares id="ID_5038" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180" unitRef="pure" decimals="INF">0.0097</bbva:Percentagesharecapitalofpledgeshares>
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  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_5042" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Aaa1Member" unitRef="pure" decimals="INF">0.01</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_5043" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Aa1Member" unitRef="pure" decimals="INF">0.162</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_5044" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AA2Member" unitRef="pure" decimals="INF">0.008</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_5045" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AA3Member" unitRef="pure" decimals="INF">0.004</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_5046" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AMember" unitRef="pure" decimals="INF">0.01</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_5047" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_A1Member" unitRef="pure" decimals="INF">0.01</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_5048" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_A2Member" unitRef="pure" decimals="INF">0.02</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_5049" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb4Member" unitRef="pure" decimals="INF">0.531</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_5050" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb5Member" unitRef="pure" decimals="INF">0.12</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_5051" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb3Member" unitRef="pure" decimals="INF">0.084</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_5052" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_BbMember" unitRef="pure" decimals="INF">0.024</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_5053" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_WithoutratingMember" unitRef="pure" decimals="INF">0.016</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating id="ID_5054" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_TotalexposuresMember" unitRef="pure" decimals="INF">1</bbva:Percentageavailableforsalefinancialassetsdebtsecuritiesbyrating>
  <bbva:Mortalitytable id="ID_5055" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofsensitivityanalysisforactuarialassumptionstableAxis_country_ES">PERM/F 2000P</bbva:Mortalitytable>
  <bbva:Mortalitytable id="ID_5056" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofsensitivityanalysisforactuarialassumptionstableAxis_country_MX">EMSSA09</bbva:Mortalitytable>
  <bbva:Mortalitytable id="ID_5057" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofsensitivityanalysisforactuarialassumptionstableAxis_country_US">RP 2014</bbva:Mortalitytable>
  <bbva:Mortalitytable id="ID_5058" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofsensitivityanalysisforactuarialassumptionstableAxis_country_TK">CSO2001</bbva:Mortalitytable>
  <bbva:Mortalitytable id="ID_5059" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofsensitivityanalysisforactuarialassumptionstableAxis_country_ES">PERM/F 2000P</bbva:Mortalitytable>
  <bbva:Mortalitytable id="ID_5060" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofsensitivityanalysisforactuarialassumptionstableAxis_country_MX">EMSSA09</bbva:Mortalitytable>
  <bbva:Mortalitytable id="ID_5061" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofsensitivityanalysisforactuarialassumptionstableAxis_country_US">RP 2014</bbva:Mortalitytable>
  <bbva:Mortalitytable id="ID_5062" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_DisclosureofsensitivityanalysisforactuarialassumptionstableAxis_country_TK">CSO2001</bbva:Mortalitytable>
  <bbva:Mortalitytable id="ID_5063" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_DisclosureofsensitivityanalysisforactuarialassumptionstableAxis_country_ES">PERM/F 2000P</bbva:Mortalitytable>
  <bbva:Mortalitytable id="ID_5064" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_DisclosureofsensitivityanalysisforactuarialassumptionstableAxis_country_MX">EMSSA09</bbva:Mortalitytable>
  <bbva:Mortalitytable id="ID_5065" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_DisclosureofsensitivityanalysisforactuarialassumptionstableAxis_country_US">RP 2014</bbva:Mortalitytable>
  <bbva:Mortalitytable id="ID_5066" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_DisclosureofsensitivityanalysisforactuarialassumptionstableAxis_country_TK">CSO2001</bbva:Mortalitytable>
  <ifrs-full:ActuarialAssumptionOfDiscountRates id="ID_5067" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_DisclosureofsensitivityanalysisforactuarialassumptionstableAxis_country_ES" unitRef="pure" decimals="INF">0.0068</ifrs-full:ActuarialAssumptionOfDiscountRates>
  <ifrs-full:ActuarialAssumptionOfDiscountRates id="ID_5068" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_DisclosureofsensitivityanalysisforactuarialassumptionstableAxis_country_MX" unitRef="pure" decimals="INF">0.0904</ifrs-full:ActuarialAssumptionOfDiscountRates>
  <ifrs-full:ActuarialAssumptionOfDiscountRates id="ID_5069" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_DisclosureofsensitivityanalysisforactuarialassumptionstableAxis_country_US" unitRef="pure" decimals="INF">0.0324</ifrs-full:ActuarialAssumptionOfDiscountRates>
  <ifrs-full:ActuarialAssumptionOfDiscountRates id="ID_5070" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_DisclosureofsensitivityanalysisforactuarialassumptionstableAxis_country_TK" unitRef="pure" decimals="INF">0.125</ifrs-full:ActuarialAssumptionOfDiscountRates>
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  <ifrs-full:ActuarialAssumptionOfDiscountRates id="ID_5084" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureofsensitivityanalysisforactuarialassumptionstableAxis_country_MX" unitRef="pure" decimals="INF">0.1045</ifrs-full:ActuarialAssumptionOfDiscountRates>
  <ifrs-full:ActuarialAssumptionOfDiscountRates id="ID_5085" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureofsensitivityanalysisforactuarialassumptionstableAxis_country_US" unitRef="pure" decimals="INF">0.0423</ifrs-full:ActuarialAssumptionOfDiscountRates>
  <ifrs-full:ActuarialAssumptionOfDiscountRates id="ID_5086" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureofsensitivityanalysisforactuarialassumptionstableAxis_country_TK" unitRef="pure" decimals="INF">0.163</ifrs-full:ActuarialAssumptionOfDiscountRates>
  <ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases id="ID_5087" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureofsensitivityanalysisforactuarialassumptionstableAxis_country_ES" unitRef="pure" decimals="INF">0</ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases>
  <ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases id="ID_5088" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureofsensitivityanalysisforactuarialassumptionstableAxis_country_MX" unitRef="pure" decimals="INF">0.0475</ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases>
  <ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases id="ID_5089" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureofsensitivityanalysisforactuarialassumptionstableAxis_country_US" unitRef="pure" decimals="INF">0</ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases>
  <ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases id="ID_5090" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureofsensitivityanalysisforactuarialassumptionstableAxis_country_TK" unitRef="pure" decimals="INF">0.14</ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases>
  <ifrs-full:ActuarialAssumptionOfExpectedRatesOfPensionIncreases id="ID_5091" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_DisclosureofsensitivityanalysisforactuarialassumptionstableAxis_country_ES" unitRef="pure" decimals="INF">0</ifrs-full:ActuarialAssumptionOfExpectedRatesOfPensionIncreases>
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  <bbva:Gdpscenarioslineitems id="ID_5627" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_ES_bbva_PeriodaxisAxis_bbva_Year2020Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">1.87%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5628" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_ES_bbva_PeriodaxisAxis_bbva_Year2020Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">2.42%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5629" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_ES_bbva_PeriodaxisAxis_bbva_Year2021Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">2.01%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5630" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_ES_bbva_PeriodaxisAxis_bbva_Year2021Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">2.10%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5631" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_ES_bbva_PeriodaxisAxis_bbva_Year2021Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">2.19%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5632" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_ES_bbva_PeriodaxisAxis_bbva_Year2022Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">1.85%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5633" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_ES_bbva_PeriodaxisAxis_bbva_Year2022Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">1.89%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5634" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_ES_bbva_PeriodaxisAxis_bbva_Year2022Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">1.88%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5635" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_ES_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">1.81%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5636" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_ES_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">1.85%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5637" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_ES_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">1.85%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5638" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_MX_bbva_PeriodaxisAxis_bbva_Year2019Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">-0.58%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5639" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_MX_bbva_PeriodaxisAxis_bbva_Year2019Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">0.23%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5640" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_MX_bbva_PeriodaxisAxis_bbva_Year2019Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">1.06%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5641" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_MX_bbva_PeriodaxisAxis_bbva_Year2020Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">0.93%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5642" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_MX_bbva_PeriodaxisAxis_bbva_Year2020Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">1.66%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5643" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_MX_bbva_PeriodaxisAxis_bbva_Year2020Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">2.39%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5644" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_MX_bbva_PeriodaxisAxis_bbva_Year2021Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">2.05%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5645" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_MX_bbva_PeriodaxisAxis_bbva_Year2021Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">2.14%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5646" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_MX_bbva_PeriodaxisAxis_bbva_Year2021Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">2.23%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5647" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_MX_bbva_PeriodaxisAxis_bbva_Year2022Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">2.07%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5648" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_MX_bbva_PeriodaxisAxis_bbva_Year2022Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">2.14%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5649" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_MX_bbva_PeriodaxisAxis_bbva_Year2022Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">2.19%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5650" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_MX_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">2.11%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5651" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_MX_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">2.15%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5652" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_MX_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">2.17%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5653" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_TK_bbva_PeriodaxisAxis_bbva_Year2019Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">-0.60%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5654" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_TK_bbva_PeriodaxisAxis_bbva_Year2019Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">3.32%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5655" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_TK_bbva_PeriodaxisAxis_bbva_Year2019Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">7.06%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5656" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_TK_bbva_PeriodaxisAxis_bbva_Year2020Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">-0.68%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5657" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_TK_bbva_PeriodaxisAxis_bbva_Year2020Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">2.48%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5658" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_TK_bbva_PeriodaxisAxis_bbva_Year2020Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">5.27%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5659" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_TK_bbva_PeriodaxisAxis_bbva_Year2021Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">4.60%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5660" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_TK_bbva_PeriodaxisAxis_bbva_Year2021Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">4.74%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5661" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_TK_bbva_PeriodaxisAxis_bbva_Year2021Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">4.91%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5662" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_TK_bbva_PeriodaxisAxis_bbva_Year2022Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">4.28%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5663" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_TK_bbva_PeriodaxisAxis_bbva_Year2022Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">4.38%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5664" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_TK_bbva_PeriodaxisAxis_bbva_Year2022Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">4.47%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5665" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_TK_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">4.31%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5666" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_TK_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">4.38%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5667" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_TK_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">4.50%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5668" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2019Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">1.16%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5669" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2019Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">2.12%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5670" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2019Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">3.13%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5671" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2020Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">1.00%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5672" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2020Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">1.81%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5673" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2020Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">2.62%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5674" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2021Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">1.84%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5675" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2021Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">1.92%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5676" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2021Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">2.03%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5677" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2022Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">1.83%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5678" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2022Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">1.86%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5679" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2022Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">1.91%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5680" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">1.88%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5681" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">1.91%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5682" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_US_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">1.94%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5683" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2019Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">0.34%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5684" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2019Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">2.92%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5685" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2019Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">5.43%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5686" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2020Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">0.32%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5687" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2020Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">2.46%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5688" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2020Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">4.56%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5689" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2021Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">3.07%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5690" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2021Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">3.28%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5691" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2021Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">3.49%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5692" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2022Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">3.39%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5693" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2022Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">3.39%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5694" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2022Member_bbva_TypeofgdpscenariosaxisAxis_bbva_FavourablescenariomemberMember">3.39%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5695" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">3.86%</bbva:Gdpscenarioslineitems>
  <bbva:Gdpscenarioslineitems id="ID_5696" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_PE_bbva_PeriodaxisAxis_bbva_Year2023Member_bbva_TypeofgdpscenariosaxisAxis_bbva_BasescenariomemberMember">3.86%</bbva:Gdpscenarioslineitems>
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  <bbva:Gdpscenarioslineitems id="ID_5698" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_CountryaxisAxis_country_AR_bbva_PeriodaxisAxis_bbva_Year2019Member_bbva_TypeofgdpscenariosaxisAxis_bbva_DesfavourablescenariomemberMember">-7.41%</bbva:Gdpscenarioslineitems>
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  <ifrs-full:ValueAtRisk id="ID_5777" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_CurrencyRiskMember" unitRef="EUR" decimals="INF">5000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5778" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_bbva_StockmarketriskmemberMember" unitRef="EUR" decimals="INF">5000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5779" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_bbva_VegacorrelationriskmemberMember" unitRef="EUR" decimals="INF">9000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5780" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_RiskDiversificationEffectMember" unitRef="EUR" decimals="INF">-18000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5781" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">14000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5782" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_VarattheendoftheperiodMember_ifrs-full_TypesOfRisksAxis_ifrs-full_InterestRateRiskMember" unitRef="EUR" decimals="INF">24000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5783" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_VarattheendoftheperiodMember_ifrs-full_TypesOfRisksAxis_ifrs-full_CurrencyRiskMember" unitRef="EUR" decimals="INF">5000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5784" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_VarattheendoftheperiodMember_ifrs-full_TypesOfRisksAxis_bbva_StockmarketriskmemberMember" unitRef="EUR" decimals="INF">5000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5785" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_VarattheendoftheperiodMember_ifrs-full_TypesOfRisksAxis_bbva_VegacorrelationriskmemberMember" unitRef="EUR" decimals="INF">8000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5786" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_VarattheendoftheperiodMember_ifrs-full_TypesOfRisksAxis_ifrs-full_RiskDiversificationEffectMember" unitRef="EUR" decimals="INF">-22000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5787" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_VarattheendoftheperiodMember_ifrs-full_TypesOfRisksAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">20000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5788" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_ifrs-full_InterestRateRiskMember" unitRef="EUR" decimals="INF">20000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5789" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_ifrs-full_CurrencyRiskMember" unitRef="EUR" decimals="INF">6000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5790" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_bbva_StockmarketriskmemberMember" unitRef="EUR" decimals="INF">4000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5791" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_bbva_VegacorrelationriskmemberMember" unitRef="EUR" decimals="INF">9000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5792" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_ifrs-full_RiskDiversificationEffectMember" unitRef="EUR" decimals="INF">-20000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5793" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">21000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5794" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_InterestRateRiskMember" unitRef="EUR" decimals="INF">23000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5795" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_CurrencyRiskMember" unitRef="EUR" decimals="INF">7000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5796" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_bbva_StockmarketriskmemberMember" unitRef="EUR" decimals="INF">6000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5797" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_bbva_VegacorrelationriskmemberMember" unitRef="EUR" decimals="INF">11000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5798" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_RiskDiversificationEffectMember" unitRef="EUR" decimals="INF">-21000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5799" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">26000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5800" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_InterestRateRiskMember" unitRef="EUR" decimals="INF">17000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5801" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_CurrencyRiskMember" unitRef="EUR" decimals="INF">6000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5802" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_bbva_StockmarketriskmemberMember" unitRef="EUR" decimals="INF">4000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5803" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_bbva_VegacorrelationriskmemberMember" unitRef="EUR" decimals="INF">7000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5804" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_RiskDiversificationEffectMember" unitRef="EUR" decimals="INF">-18000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5805" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">16000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5806" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_VarattheendoftheperiodMember_ifrs-full_TypesOfRisksAxis_ifrs-full_InterestRateRiskMember" unitRef="EUR" decimals="INF">19000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5807" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_VarattheendoftheperiodMember_ifrs-full_TypesOfRisksAxis_ifrs-full_CurrencyRiskMember" unitRef="EUR" decimals="INF">5000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5808" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_VarattheendoftheperiodMember_ifrs-full_TypesOfRisksAxis_bbva_StockmarketriskmemberMember" unitRef="EUR" decimals="INF">3000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5809" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_VarattheendoftheperiodMember_ifrs-full_TypesOfRisksAxis_bbva_VegacorrelationriskmemberMember" unitRef="EUR" decimals="INF">7000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5810" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_VarattheendoftheperiodMember_ifrs-full_TypesOfRisksAxis_ifrs-full_RiskDiversificationEffectMember" unitRef="EUR" decimals="INF">-17000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5811" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_VarattheendoftheperiodMember_ifrs-full_TypesOfRisksAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">17000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5812" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_ifrs-full_InterestRateRiskMember" unitRef="EUR" decimals="INF">25000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5813" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_ifrs-full_CurrencyRiskMember" unitRef="EUR" decimals="INF">10000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5814" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_bbva_StockmarketriskmemberMember" unitRef="EUR" decimals="INF">3000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5815" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_bbva_VegacorrelationriskmemberMember" unitRef="EUR" decimals="INF">13000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5816" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_ifrs-full_RiskDiversificationEffectMember" unitRef="EUR" decimals="INF">-23000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5817" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_WeightedaveragememeberMember_ifrs-full_TypesOfRisksAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">27000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5818" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_InterestRateRiskMember" unitRef="EUR" decimals="INF">27000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5819" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_CurrencyRiskMember" unitRef="EUR" decimals="INF">11000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5820" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_bbva_StockmarketriskmemberMember" unitRef="EUR" decimals="INF">2000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5821" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_bbva_VegacorrelationriskmemberMember" unitRef="EUR" decimals="INF">12000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5822" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_RiskDiversificationEffectMember" unitRef="EUR" decimals="INF">-19000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5823" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MaximumMember_ifrs-full_TypesOfRisksAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">34000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5824" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_InterestRateRiskMember" unitRef="EUR" decimals="INF">23000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5825" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_CurrencyRiskMember" unitRef="EUR" decimals="INF">7000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5826" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_bbva_StockmarketriskmemberMember" unitRef="EUR" decimals="INF">4000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5827" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_bbva_VegacorrelationriskmemberMember" unitRef="EUR" decimals="INF">14000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5828" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_ifrs-full_RiskDiversificationEffectMember" unitRef="EUR" decimals="INF">-26000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5829" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_srt_MinimumMember_ifrs-full_TypesOfRisksAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">22000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5830" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_VarattheendoftheperiodMember_ifrs-full_TypesOfRisksAxis_ifrs-full_InterestRateRiskMember" unitRef="EUR" decimals="INF">23000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5831" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_VarattheendoftheperiodMember_ifrs-full_TypesOfRisksAxis_ifrs-full_CurrencyRiskMember" unitRef="EUR" decimals="INF">7000000</ifrs-full:ValueAtRisk>
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  <ifrs-full:ValueAtRisk id="ID_5833" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_VarattheendoftheperiodMember_ifrs-full_TypesOfRisksAxis_bbva_VegacorrelationriskmemberMember" unitRef="EUR" decimals="INF">14000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5834" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_VarattheendoftheperiodMember_ifrs-full_TypesOfRisksAxis_ifrs-full_RiskDiversificationEffectMember" unitRef="EUR" decimals="INF">-26000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5835" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LevelofvarintheyearaxisAxis_bbva_VarattheendoftheperiodMember_ifrs-full_TypesOfRisksAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">22000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5836" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_GeographyaxisAxis_srt_EuropeMember" unitRef="EUR" decimals="INF">-112000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5837" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_GeographyaxisAxis_country_MX" unitRef="EUR" decimals="INF">-68000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5838" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_GeographyaxisAxis_country_PE" unitRef="EUR" decimals="INF">-23000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5839" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_GeographyaxisAxis_country_VE" unitRef="EUR" decimals="INF">0</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5840" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_GeographyaxisAxis_country_AR" unitRef="EUR" decimals="INF">-4000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5841" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_GeographyaxisAxis_country_CO" unitRef="EUR" decimals="INF">-5000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5842" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_GeographyaxisAxis_country_TK" unitRef="EUR" decimals="INF">-9000000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk id="ID_5843" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_GeographyaxisAxis_country_US" unitRef="EUR" decimals="INF">-3000000</ifrs-full:ValueAtRisk>
  <bbva:Averagelcr id="ID_5844" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LmutypeaxisAxis_bbva_BbvausaMember" unitRef="pure" decimals="INF">1.45</bbva:Averagelcr>
  <bbva:Averagelcr id="ID_5845" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LmutypeaxisAxis_bbva_BbvausaMember" unitRef="pure" decimals="INF">1.43</bbva:Averagelcr>
  <bbva:Averagelcr id="ID_5846" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LmutypeaxisAxis_bbva_BbvausaMember" unitRef="pure" decimals="INF">1.44</bbva:Averagelcr>
  <bbva:Averagelcr id="ID_5847" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LmutypeaxisAxis_bbva_GarantibankmemberMember" unitRef="pure" decimals="INF">2.06</bbva:Averagelcr>
  <bbva:Averagelcr id="ID_5848" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LmutypeaxisAxis_bbva_GarantibankmemberMember" unitRef="pure" decimals="INF">2.09</bbva:Averagelcr>
  <bbva:Averagelcr id="ID_5849" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_LmutypeaxisAxis_bbva_GarantibankmemberMember" unitRef="pure" decimals="INF">1.34</bbva:Averagelcr>
  <bbva:Maximumcreditriskexposure id="ID_5850" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbygeographiclocationtableaxisAxis_country_ES_bbva_CreditriskbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">197058000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_5851" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbygeographiclocationtableaxisAxis_country_ES_bbva_CreditriskbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">173843000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_5852" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbygeographiclocationtableaxisAxis_country_ES_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">14599000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_5853" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbygeographiclocationtableaxisAxis_country_ES_bbva_CreditriskbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">8616000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_5854" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbygeographiclocationtableaxisAxis_country_US_bbva_CreditriskbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">57387000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_5855" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbygeographiclocationtableaxisAxis_country_US_bbva_CreditriskbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">49744000000</bbva:Maximumcreditriskexposure>
  <bbva:Maximumcreditriskexposure id="ID_5856" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CreditriskbygeographiclocationtableaxisAxis_country_US_bbva_CreditriskbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">7011000000</bbva:Maximumcreditriskexposure>
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  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6109" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WholesaleandretailtradeMember" unitRef="EUR" decimals="INF">1624000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6110" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TransportandstorageMember" unitRef="EUR" decimals="INF">459000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6111" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AccommodationandfoodserviceactiviesMember" unitRef="EUR" decimals="INF">315000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6112" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_InformationandcommunicationMember" unitRef="EUR" decimals="INF">113000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6113" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_FinancialAndInsuranceActivitiesMember" unitRef="EUR" decimals="INF">147000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6114" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_RealestateactivitiesMember" unitRef="EUR" decimals="INF">834000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6115" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ProfessionalscientificandtecnicalactivitiesMember" unitRef="EUR" decimals="INF">204000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6116" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AdministrativeandsupportserviceactivitiesMember" unitRef="EUR" decimals="INF">128000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6117" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_PublicadministrationanddefenseMember" unitRef="EUR" decimals="INF">5000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6118" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_EducationMember" unitRef="EUR" decimals="INF">31000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6119" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HumanHealthServicesAndSocialWorkActivitiesMember" unitRef="EUR" decimals="INF">63000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6120" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ArtsenterntainmentandrecreationMember" unitRef="EUR" decimals="INF">59000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6121" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherservicesMember" unitRef="EUR" decimals="INF">386000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6122" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HouseholdsMember" unitRef="EUR" decimals="INF">7838000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6123" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">16359000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_6124" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">-6000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6125" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_GeneralgovernementMember" unitRef="EUR" decimals="INF">-84000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6126" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="INF">-12000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6127" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherfinancialinstitutionsMember" unitRef="EUR" decimals="INF">-22000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6128" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_NonfinancialcorporationsMember" unitRef="EUR" decimals="INF">-6260000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6129" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AgricultureforestryandfishingMember" unitRef="EUR" decimals="INF">-107000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6130" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_MiningandquarryingMember" unitRef="EUR" decimals="INF">-70000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6131" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ManufacturingMember" unitRef="EUR" decimals="INF">-1134000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6132" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ElectricitygasMember" unitRef="EUR" decimals="INF">-446000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6133" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WatersupplyMember" unitRef="EUR" decimals="INF">-15000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6134" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ConstructionMember" unitRef="EUR" decimals="INF">-1007000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6135" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WholesaleandretailtradeMember" unitRef="EUR" decimals="INF">-1259000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6136" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TransportandstorageMember" unitRef="EUR" decimals="INF">-374000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6137" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AccommodationandfoodserviceactiviesMember" unitRef="EUR" decimals="INF">-204000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6138" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_InformationandcommunicationMember" unitRef="EUR" decimals="INF">-72000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6139" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_FinancialAndInsuranceActivitiesMember" unitRef="EUR" decimals="INF">-128000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6140" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_RealestateactivitiesMember" unitRef="EUR" decimals="INF">-624000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6141" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ProfessionalscientificandtecnicalactivitiesMember" unitRef="EUR" decimals="INF">-171000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6142" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AdministrativeandsupportserviceactivitiesMember" unitRef="EUR" decimals="INF">-125000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6143" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_PublicadministrationanddefenseMember" unitRef="EUR" decimals="INF">-7000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6144" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_EducationMember" unitRef="EUR" decimals="INF">-31000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6145" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HumanHealthServicesAndSocialWorkActivitiesMember" unitRef="EUR" decimals="INF">-63000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6146" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ArtsenterntainmentandrecreationMember" unitRef="EUR" decimals="INF">-41000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6147" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherservicesMember" unitRef="EUR" decimals="INF">-382000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6148" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HouseholdsMember" unitRef="EUR" decimals="INF">-5833000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6149" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">-12217000000</bbva:Accumulatedimpairment>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6150" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CentralbanksMember" unitRef="pure" decimals="INF">0</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6151" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_GeneralgovernementMember" unitRef="pure" decimals="INF">0.004</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6152" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CreditinstitutionsMember" unitRef="pure" decimals="INF">0.001</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6153" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherfinancialinstitutionsMember" unitRef="pure" decimals="INF">0.001</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6154" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_NonfinancialcorporationsMember" unitRef="pure" decimals="INF">0.049</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6155" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AgricultureforestryandfishingMember" unitRef="pure" decimals="INF">0.033</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6156" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_MiningandquarryingMember" unitRef="pure" decimals="INF">0.019</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6157" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ManufacturingMember" unitRef="pure" decimals="INF">0.046</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6158" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ElectricitygasMember" unitRef="pure" decimals="INF">0.042</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6159" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WatersupplyMember" unitRef="pure" decimals="INF">0.018</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6160" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ConstructionMember" unitRef="pure" decimals="INF">0.125</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6161" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WholesaleandretailtradeMember" unitRef="pure" decimals="INF">0.063</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6162" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TransportandstorageMember" unitRef="pure" decimals="INF">0.047</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6163" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AccommodationandfoodserviceactiviesMember" unitRef="pure" decimals="INF">0.04</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6164" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_InformationandcommunicationMember" unitRef="pure" decimals="INF">0.021</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6165" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_FinancialAndInsuranceActivitiesMember" unitRef="pure" decimals="INF">0.021</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6166" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_RealestateactivitiesMember" unitRef="pure" decimals="INF">0.048</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6167" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ProfessionalscientificandtecnicalactivitiesMember" unitRef="pure" decimals="INF">0.04</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6168" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AdministrativeandsupportserviceactivitiesMember" unitRef="pure" decimals="INF">0.04</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6169" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_PublicadministrationanddefenseMember" unitRef="pure" decimals="INF">0.016</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6170" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_EducationMember" unitRef="pure" decimals="INF">0.034</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6171" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HumanHealthServicesAndSocialWorkActivitiesMember" unitRef="pure" decimals="INF">0.014</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6172" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ArtsenterntainmentandrecreationMember" unitRef="pure" decimals="INF">0.045</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6173" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherservicesMember" unitRef="pure" decimals="INF">0.039</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6174" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HouseholdsMember" unitRef="pure" decimals="INF">0.044</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6175" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TotalMember" unitRef="pure" decimals="INF">0.041</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Grossvaluefinancialassetsimpaired id="ID_6176" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">4285000000</bbva:Grossvaluefinancialassetsimpaired>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6177" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Grossvaluefinancialassetsimpaired id="ID_6178" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_GeneralgovernementMember" unitRef="EUR" decimals="INF">28281000000</bbva:Grossvaluefinancialassetsimpaired>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6179" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_GeneralgovernementMember" unitRef="EUR" decimals="INF">88000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Grossvaluefinancialassetsimpaired id="ID_6180" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="INF">13664000000</bbva:Grossvaluefinancialassetsimpaired>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6181" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="INF">6000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Grossvaluefinancialassetsimpaired id="ID_6182" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherfinancialinstitutionsMember" unitRef="EUR" decimals="INF">11239000000</bbva:Grossvaluefinancialassetsimpaired>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6183" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherfinancialinstitutionsMember" unitRef="EUR" decimals="INF">17000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Grossvaluefinancialassetsimpaired id="ID_6184" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_NonfinancialcorporationsMember" unitRef="EUR" decimals="INF">173254000000</bbva:Grossvaluefinancialassetsimpaired>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6185" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_NonfinancialcorporationsMember" unitRef="EUR" decimals="INF">8467000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Grossvaluefinancialassetsimpaired id="ID_6186" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AgricultureforestryandfishingMember" unitRef="EUR" decimals="INF">3758000000</bbva:Grossvaluefinancialassetsimpaired>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6187" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AgricultureforestryandfishingMember" unitRef="EUR" decimals="INF">154000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
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  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6201" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TransportandstorageMember" unitRef="EUR" decimals="INF">507000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Grossvaluefinancialassetsimpaired id="ID_6202" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AccommodationandfoodserviceactiviesMember" unitRef="EUR" decimals="INF">8703000000</bbva:Grossvaluefinancialassetsimpaired>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6203" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AccommodationandfoodserviceactiviesMember" unitRef="EUR" decimals="INF">279000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
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  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6205" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_InformationandcommunicationMember" unitRef="EUR" decimals="INF">95000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Grossvaluefinancialassetsimpaired id="ID_6206" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_FinancialAndInsuranceActivitiesMember" unitRef="EUR" decimals="INF">6864000000</bbva:Grossvaluefinancialassetsimpaired>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6207" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_FinancialAndInsuranceActivitiesMember" unitRef="EUR" decimals="INF">191000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Grossvaluefinancialassetsimpaired id="ID_6208" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_RealestateactivitiesMember" unitRef="EUR" decimals="INF">19435000000</bbva:Grossvaluefinancialassetsimpaired>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6209" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_RealestateactivitiesMember" unitRef="EUR" decimals="INF">782000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Grossvaluefinancialassetsimpaired id="ID_6210" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ProfessionalscientificandtecnicalactivitiesMember" unitRef="EUR" decimals="INF">4375000000</bbva:Grossvaluefinancialassetsimpaired>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6211" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ProfessionalscientificandtecnicalactivitiesMember" unitRef="EUR" decimals="INF">167000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Grossvaluefinancialassetsimpaired id="ID_6212" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AdministrativeandsupportserviceactivitiesMember" unitRef="EUR" decimals="INF">3415000000</bbva:Grossvaluefinancialassetsimpaired>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6213" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AdministrativeandsupportserviceactivitiesMember" unitRef="EUR" decimals="INF">118000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Grossvaluefinancialassetsimpaired id="ID_6214" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_PublicadministrationanddefenseMember" unitRef="EUR" decimals="INF">282000000</bbva:Grossvaluefinancialassetsimpaired>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6215" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_PublicadministrationanddefenseMember" unitRef="EUR" decimals="INF">5000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Grossvaluefinancialassetsimpaired id="ID_6216" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_EducationMember" unitRef="EUR" decimals="INF">903000000</bbva:Grossvaluefinancialassetsimpaired>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6217" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_EducationMember" unitRef="EUR" decimals="INF">41000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Grossvaluefinancialassetsimpaired id="ID_6218" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HumanHealthServicesAndSocialWorkActivitiesMember" unitRef="EUR" decimals="INF">4696000000</bbva:Grossvaluefinancialassetsimpaired>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6219" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HumanHealthServicesAndSocialWorkActivitiesMember" unitRef="EUR" decimals="INF">66000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Grossvaluefinancialassetsimpaired id="ID_6220" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ArtsenterntainmentandrecreationMember" unitRef="EUR" decimals="INF">1396000000</bbva:Grossvaluefinancialassetsimpaired>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6221" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ArtsenterntainmentandrecreationMember" unitRef="EUR" decimals="INF">47000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
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  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6223" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherservicesMember" unitRef="EUR" decimals="INF">331000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Grossvaluefinancialassetsimpaired id="ID_6224" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HouseholdsMember" unitRef="EUR" decimals="INF">181989000000</bbva:Grossvaluefinancialassetsimpaired>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6225" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HouseholdsMember" unitRef="EUR" decimals="INF">7381000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Grossvaluefinancialassetsimpaired id="ID_6226" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">412711000000</bbva:Grossvaluefinancialassetsimpaired>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6227" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">15959000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_6228" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CentralbanksMember" unitRef="EUR" decimals="INF">-9000000</bbva:Accumulatedimpairment>
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  <bbva:Accumulatedimpairment id="ID_6232" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_NonfinancialcorporationsMember" unitRef="EUR" decimals="INF">-6465000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6233" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AgricultureforestryandfishingMember" unitRef="EUR" decimals="INF">-124000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6234" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_MiningandquarryingMember" unitRef="EUR" decimals="INF">-86000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6235" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ManufacturingMember" unitRef="EUR" decimals="INF">-1242000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6236" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ElectricitygasMember" unitRef="EUR" decimals="INF">-575000000</bbva:Accumulatedimpairment>
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  <bbva:Accumulatedimpairment id="ID_6238" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ConstructionMember" unitRef="EUR" decimals="INF">-876000000</bbva:Accumulatedimpairment>
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  <bbva:Accumulatedimpairment id="ID_6240" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TransportandstorageMember" unitRef="EUR" decimals="INF">-392000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6241" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AccommodationandfoodserviceactiviesMember" unitRef="EUR" decimals="INF">-203000000</bbva:Accumulatedimpairment>
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  <bbva:Accumulatedimpairment id="ID_6243" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_FinancialAndInsuranceActivitiesMember" unitRef="EUR" decimals="INF">-140000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6244" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_RealestateactivitiesMember" unitRef="EUR" decimals="INF">-527000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6245" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ProfessionalscientificandtecnicalactivitiesMember" unitRef="EUR" decimals="INF">-140000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6246" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AdministrativeandsupportserviceactivitiesMember" unitRef="EUR" decimals="INF">-134000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6247" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_PublicadministrationanddefenseMember" unitRef="EUR" decimals="INF">-6000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6248" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_EducationMember" unitRef="EUR" decimals="INF">-38000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6249" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HumanHealthServicesAndSocialWorkActivitiesMember" unitRef="EUR" decimals="INF">-55000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6250" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ArtsenterntainmentandrecreationMember" unitRef="EUR" decimals="INF">-39000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6251" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherservicesMember" unitRef="EUR" decimals="INF">-360000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6252" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HouseholdsMember" unitRef="EUR" decimals="INF">-5847000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6253" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">-12427000000</bbva:Accumulatedimpairment>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6254" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CentralbanksMember" unitRef="pure" decimals="INF">0</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6255" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_GeneralgovernementMember" unitRef="pure" decimals="INF">0.003</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6256" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CreditinstitutionsMember" unitRef="pure" decimals="INF">0</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6257" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherfinancialinstitutionsMember" unitRef="pure" decimals="INF">0.002</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6258" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_NonfinancialcorporationsMember" unitRef="pure" decimals="INF">0.049</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6259" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AgricultureforestryandfishingMember" unitRef="pure" decimals="INF">0.041</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6260" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_MiningandquarryingMember" unitRef="pure" decimals="INF">0.021</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6261" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ManufacturingMember" unitRef="pure" decimals="INF">0.043</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6262" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ElectricitygasMember" unitRef="pure" decimals="INF">0.056</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6263" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WatersupplyMember" unitRef="pure" decimals="INF">0.016</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6264" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ConstructionMember" unitRef="pure" decimals="INF">0.126</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6265" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WholesaleandretailtradeMember" unitRef="pure" decimals="INF">0.066</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6266" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TransportandstorageMember" unitRef="pure" decimals="INF">0.053</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6267" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AccommodationandfoodserviceactiviesMember" unitRef="pure" decimals="INF">0.032</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6268" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_InformationandcommunicationMember" unitRef="pure" decimals="INF">0.015</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6269" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_FinancialAndInsuranceActivitiesMember" unitRef="pure" decimals="INF">0.028</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6270" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_RealestateactivitiesMember" unitRef="pure" decimals="INF">0.04</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6271" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ProfessionalscientificandtecnicalactivitiesMember" unitRef="pure" decimals="INF">0.038</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6272" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AdministrativeandsupportserviceactivitiesMember" unitRef="pure" decimals="INF">0.034</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6273" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_PublicadministrationanddefenseMember" unitRef="pure" decimals="INF">0.017</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6274" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_EducationMember" unitRef="pure" decimals="INF">0.045</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6275" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HumanHealthServicesAndSocialWorkActivitiesMember" unitRef="pure" decimals="INF">0.014</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6276" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ArtsenterntainmentandrecreationMember" unitRef="pure" decimals="INF">0.034</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6277" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherservicesMember" unitRef="pure" decimals="INF">0.043</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6278" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HouseholdsMember" unitRef="pure" decimals="INF">0.041</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6279" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TotalMember" unitRef="pure" decimals="INF">0.039</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6280" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_GeneralgovernementMember" unitRef="EUR" decimals="INF">171000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_6281" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_GeneralgovernementMember" unitRef="EUR" decimals="INF">-111000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6282" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="INF">11000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_6283" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CreditinstitutionsMember" unitRef="EUR" decimals="INF">-36000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6284" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherfinancialinstitutionsMember" unitRef="EUR" decimals="INF">12000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_6285" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherfinancialinstitutionsMember" unitRef="EUR" decimals="INF">-26000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6286" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_NonfinancialcorporationsMember" unitRef="EUR" decimals="INF">10791000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_6287" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_NonfinancialcorporationsMember" unitRef="EUR" decimals="INF">-7538000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6288" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AgricultureforestryandfishingMember" unitRef="EUR" decimals="INF">166000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6289" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_MiningandquarryingMember" unitRef="EUR" decimals="INF">177000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6290" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ManufacturingMember" unitRef="EUR" decimals="INF">1239000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6291" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ElectricitygasMember" unitRef="EUR" decimals="INF">213000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6292" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WatersupplyMember" unitRef="EUR" decimals="INF">29000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6293" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ConstructionMember" unitRef="EUR" decimals="INF">2993000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6294" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WholesaleandretailtradeMember" unitRef="EUR" decimals="INF">1706000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6295" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TransportandstorageMember" unitRef="EUR" decimals="INF">441000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6296" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AccommodationandfoodserviceactiviesMember" unitRef="EUR" decimals="INF">362000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6297" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_InformationandcommunicationMember" unitRef="EUR" decimals="INF">984000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_6298" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WholesaleandretailtradeMember" unitRef="EUR" decimals="INF">-1230000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6299" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TransportandstorageMember" unitRef="EUR" decimals="INF">-353000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6300" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AccommodationandfoodserviceactiviesMember" unitRef="EUR" decimals="INF">-222000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6301" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_InformationandcommunicationMember" unitRef="EUR" decimals="INF">-256000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6302" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AgricultureforestryandfishingMember" unitRef="EUR" decimals="INF">-123000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6303" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_MiningandquarryingMember" unitRef="EUR" decimals="INF">-123000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6304" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ManufacturingMember" unitRef="EUR" decimals="INF">-955000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6305" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ElectricitygasMember" unitRef="EUR" decimals="INF">-289000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6306" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WatersupplyMember" unitRef="EUR" decimals="INF">-11000000</bbva:Accumulatedimpairment>
  <bbva:Accumulatedimpairment id="ID_6307" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ConstructionMember" unitRef="EUR" decimals="INF">-1708000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6308" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_RealestateactivitiesMember" unitRef="EUR" decimals="INF">1171000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_6309" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_RealestateactivitiesMember" unitRef="EUR" decimals="INF">-1100000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6310" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ProfessionalscientificandtecnicalactivitiesMember" unitRef="EUR" decimals="INF">252000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_6311" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ProfessionalscientificandtecnicalactivitiesMember" unitRef="EUR" decimals="INF">-183000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6312" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AdministrativeandsupportserviceactivitiesMember" unitRef="EUR" decimals="INF">188000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_6313" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AdministrativeandsupportserviceactivitiesMember" unitRef="EUR" decimals="INF">-130000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6314" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_PublicadministrationanddefenseMember" unitRef="EUR" decimals="INF">4000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_6315" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_PublicadministrationanddefenseMember" unitRef="EUR" decimals="INF">-6000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6316" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_EducationMember" unitRef="EUR" decimals="INF">31000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_6317" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_EducationMember" unitRef="EUR" decimals="INF">-25000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6318" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HumanHealthServicesAndSocialWorkActivitiesMember" unitRef="EUR" decimals="INF">75000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_6319" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HumanHealthServicesAndSocialWorkActivitiesMember" unitRef="EUR" decimals="INF">-68000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6320" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ArtsenterntainmentandrecreationMember" unitRef="EUR" decimals="INF">69000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_6321" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ArtsenterntainmentandrecreationMember" unitRef="EUR" decimals="INF">-38000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6322" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherservicesMember" unitRef="EUR" decimals="INF">690000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_6323" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherservicesMember" unitRef="EUR" decimals="INF">-716000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6324" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HouseholdsMember" unitRef="EUR" decimals="INF">8417000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_6325" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HouseholdsMember" unitRef="EUR" decimals="INF">-5073000000</bbva:Accumulatedimpairment>
  <bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6326" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">19401000000</bbva:Loansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Accumulatedimpairment id="ID_6327" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">-12784000000</bbva:Accumulatedimpairment>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6328" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_GeneralgovernementMember" unitRef="pure" decimals="INF">0.005</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6329" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_CreditinstitutionsMember" unitRef="pure" decimals="INF">0.003</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6330" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherfinancialinstitutionsMember" unitRef="pure" decimals="INF">0.001</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6331" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_NonfinancialcorporationsMember" unitRef="pure" decimals="INF">0.063</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6332" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AgricultureforestryandfishingMember" unitRef="pure" decimals="INF">0.043</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6333" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_MiningandquarryingMember" unitRef="pure" decimals="INF">0.037</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6334" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ManufacturingMember" unitRef="pure" decimals="INF">0.036</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6335" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ElectricitygasMember" unitRef="pure" decimals="INF">0.018</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6336" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WatersupplyMember" unitRef="pure" decimals="INF">0.045</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6337" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ConstructionMember" unitRef="pure" decimals="INF">0.201</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6338" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_WholesaleandretailtradeMember" unitRef="pure" decimals="INF">0.059</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6339" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TransportandstorageMember" unitRef="pure" decimals="INF">0.042</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6340" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AccommodationandfoodserviceactiviesMember" unitRef="pure" decimals="INF">0.043</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6341" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_InformationandcommunicationMember" unitRef="pure" decimals="INF">0.17</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6342" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_RealestateactivitiesMember" unitRef="pure" decimals="INF">0.079</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6343" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ProfessionalscientificandtecnicalactivitiesMember" unitRef="pure" decimals="INF">0.038</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6344" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_AdministrativeandsupportserviceactivitiesMember" unitRef="pure" decimals="INF">0.063</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6345" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_PublicadministrationanddefenseMember" unitRef="pure" decimals="INF">0.019</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6346" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_EducationMember" unitRef="pure" decimals="INF">0.034</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6347" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HumanHealthServicesAndSocialWorkActivitiesMember" unitRef="pure" decimals="INF">0.017</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6348" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_ArtsenterntainmentandrecreationMember" unitRef="pure" decimals="INF">0.046</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6349" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_OtherservicesMember" unitRef="pure" decimals="INF">0.043</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6350" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_HouseholdsMember" unitRef="pure" decimals="INF">0.047</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
  <bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors id="ID_6351" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CorporateentitiesdisclosureAxis_bbva_TotalMember" unitRef="pure" decimals="INF">0.045</bbva:Percentageofloansandadvancesimparedandaccumulatedimpairmentbysectors>
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  <bbva:Encumberedassets id="ID_6365" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesoinstrumentsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_EncumberedassetsmemberAxis_bbva_EncumberedassetsMember_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_ifrs-full_GrossCarryingAmountMember" unitRef="EUR" decimals="INF">31157000000</bbva:Encumberedassets>
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  <bbva:Encumberedassets id="ID_6373" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesoinstrumentsaxisAxis_bbva_EquityinstrumentsMember_bbva_EncumberedassetsmemberAxis_bbva_NonencumberedassetsMember_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_ifrs-full_GrossCarryingAmountMember" unitRef="EUR" decimals="INF">6485000000</bbva:Encumberedassets>
  <bbva:Encumberedassets id="ID_6374" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesoinstrumentsaxisAxis_bbva_EquityinstrumentsMember_bbva_EncumberedassetsmemberAxis_bbva_NonencumberedassetsMember_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_ifrs-full_AtFairValueMember" unitRef="EUR" decimals="INF">6485000000</bbva:Encumberedassets>
  <bbva:Encumberedassets id="ID_6375" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesoinstrumentsaxisAxis_bbva_LoansandreceivablesandotherassetsMember_bbva_EncumberedassetsmemberAxis_bbva_NonencumberedassetsMember_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_ifrs-full_GrossCarryingAmountMember" unitRef="EUR" decimals="INF">478880000000</bbva:Encumberedassets>
  <bbva:Encumberedassets id="ID_6376" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_EncumberedassetsmemberAxis_bbva_EncumberedassetsMember_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_ifrs-full_GrossCarryingAmountMember" unitRef="EUR" decimals="INF">110600000000</bbva:Encumberedassets>
  <bbva:Encumberedassets id="ID_6377" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_ClassesoinstrumentsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_EncumberedassetsmemberAxis_bbva_EncumberedassetsMember_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_ifrs-full_GrossCarryingAmountMember" unitRef="EUR" decimals="INF">28700000000</bbva:Encumberedassets>
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  <bbva:Encumberedassets id="ID_6383" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_ClassesoinstrumentsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_EncumberedassetsmemberAxis_bbva_NonencumberedassetsMember_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_ifrs-full_GrossCarryingAmountMember" unitRef="EUR" decimals="INF">84391000000</bbva:Encumberedassets>
  <bbva:Encumberedassets id="ID_6384" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_ClassesoinstrumentsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_EncumberedassetsmemberAxis_bbva_NonencumberedassetsMember_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_ifrs-full_AtFairValueMember" unitRef="EUR" decimals="INF">84391000000</bbva:Encumberedassets>
  <bbva:Encumberedassets id="ID_6385" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_ClassesoinstrumentsaxisAxis_bbva_EquityinstrumentsMember_bbva_EncumberedassetsmemberAxis_bbva_NonencumberedassetsMember_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_ifrs-full_GrossCarryingAmountMember" unitRef="EUR" decimals="INF">9616000000</bbva:Encumberedassets>
  <bbva:Encumberedassets id="ID_6386" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_ClassesoinstrumentsaxisAxis_bbva_EquityinstrumentsMember_bbva_EncumberedassetsmemberAxis_bbva_NonencumberedassetsMember_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_ifrs-full_AtFairValueMember" unitRef="EUR" decimals="INF">9616000000</bbva:Encumberedassets>
  <bbva:Encumberedassets id="ID_6387" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_ClassesoinstrumentsaxisAxis_bbva_LoansandreceivablesandotherassetsMember_bbva_EncumberedassetsmemberAxis_bbva_NonencumberedassetsMember_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_ifrs-full_GrossCarryingAmountMember" unitRef="EUR" decimals="INF">485451000000</bbva:Encumberedassets>
  <bbva:Encumberedcollateralreceived id="ID_6388" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesoffinancialinstrumentsencumbraceaxisAxis_bbva_LoansandreceivablesandotherassetsMember_bbva_FairvalueencumbranceaxisAxis_bbva_FairvalueofencumberedcollateralreceivedMember" unitRef="EUR" decimals="INF">0</bbva:Encumberedcollateralreceived>
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  <bbva:Encumberedcollateralreceived id="ID_6390" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesoffinancialinstrumentsencumbraceaxisAxis_bbva_LoansandreceivablesandotherassetsMember_bbva_FairvalueencumbranceaxisAxis_bbva_NotionalamountofcollateralreceivedMember" unitRef="EUR" decimals="INF">10000000</bbva:Encumberedcollateralreceived>
  <bbva:Encumberedcollateralreceived id="ID_6391" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesoffinancialinstrumentsencumbraceaxisAxis_bbva_OwndebtissuedotherthanowncoveredbondsMember_bbva_FairvalueencumbranceaxisAxis_bbva_FairvalueofencumberedcollateralreceivedMember" unitRef="EUR" decimals="INF">0</bbva:Encumberedcollateralreceived>
  <bbva:Encumberedcollateralreceived id="ID_6392" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesoffinancialinstrumentsencumbraceaxisAxis_bbva_OwndebtissuedotherthanowncoveredbondsMember_bbva_FairvalueencumbranceaxisAxis_bbva_FairvalueofcollateralreceivedMember" unitRef="EUR" decimals="INF">82000000</bbva:Encumberedcollateralreceived>
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  <bbva:Encumberedcollateralreceived id="ID_6394" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesoffinancialinstrumentsencumbraceaxisAxis_bbva_EquityinstrumentsMember_bbva_FairvalueencumbranceaxisAxis_bbva_FairvalueofencumberedcollateralreceivedMember" unitRef="EUR" decimals="INF">65000000</bbva:Encumberedcollateralreceived>
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  <bbva:Definedmedicalbenefit id="ID_8883" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180_bbva_DefinedmedicalbenefitsbyconceptaxisAxis_bbva_DefinedbenefitattheendmemberMember_bbva_DisclosureofdefinedmedicalbenefitstableaxisAxis_bbva_NetbenefitliabilityassetMember" unitRef="EUR" decimals="INF">91000000</bbva:Definedmedicalbenefit>
  <bbva:Creditspread id="ID_8884" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_LoansandadvancesMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_NetpresentvaluememberMember_ifrs-full_RangeAxis_ifrs-full_BottomOfRangeMember">(6)</bbva:Creditspread>
  <bbva:Creditspread id="ID_8885" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_LoansandadvancesMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_NetpresentvaluememberMember_ifrs-full_RangeAxis_ifrs-full_WeightedAverageMember">16</bbva:Creditspread>
  <bbva:Creditspread id="ID_8886" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_LoansandadvancesMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_NetpresentvaluememberMember_ifrs-full_RangeAxis_ifrs-full_TopOfRangeMember">100</bbva:Creditspread>
  <bbva:Creditspread id="ID_8887" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_LoansandadvancesMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_NetpresentvaluememberMember_ifrs-full_RangeAxis_bbva_UnitsMember">b.p</bbva:Creditspread>
  <bbva:Correlationdefault id="ID_8888" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_CreditoptionmemberMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_GaussiancopulamemberMember_ifrs-full_RangeAxis_ifrs-full_BottomOfRangeMember">19.37%</bbva:Correlationdefault>
  <bbva:Correlationdefault id="ID_8889" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_CreditoptionmemberMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_GaussiancopulamemberMember_ifrs-full_RangeAxis_ifrs-full_WeightedAverageMember">44.33%</bbva:Correlationdefault>
  <bbva:Correlationdefault id="ID_8890" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_CreditoptionmemberMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_GaussiancopulamemberMember_ifrs-full_RangeAxis_ifrs-full_TopOfRangeMember">61.08%</bbva:Correlationdefault>
  <bbva:Correlationdefault id="ID_8891" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_CreditoptionmemberMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_GaussiancopulamemberMember_ifrs-full_RangeAxis_bbva_UnitsMember">%</bbva:Correlationdefault>
  <bbva:Pricevolatility id="ID_8892" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_CreditoptionmemberMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_Black76memberMember_ifrs-full_RangeAxis_ifrs-full_BottomOfRangeMember">-</bbva:Pricevolatility>
  <bbva:Pricevolatility id="ID_8893" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_CreditoptionmemberMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_Black76memberMember_ifrs-full_RangeAxis_ifrs-full_WeightedAverageMember">-</bbva:Pricevolatility>
  <bbva:Pricevolatility id="ID_8894" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_CreditoptionmemberMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_Black76memberMember_ifrs-full_RangeAxis_ifrs-full_TopOfRangeMember">-</bbva:Pricevolatility>
  <bbva:Pricevolatility id="ID_8895" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_CreditoptionmemberMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_Black76memberMember_ifrs-full_RangeAxis_bbva_UnitsMember">Vegas</bbva:Pricevolatility>
  <bbva:Forwardvolatility id="ID_8896" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_EquityotcoptionmemberMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_HestonmemberMember_ifrs-full_RangeAxis_bbva_UnitsMember">Vegas</bbva:Forwardvolatility>
  <bbva:Forwardvolatility id="ID_8897" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_EquityotcoptionmemberMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_HestonmemberMember_ifrs-full_RangeAxis_ifrs-full_BottomOfRangeMember">35.12</bbva:Forwardvolatility>
  <bbva:Forwardvolatility id="ID_8898" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_EquityotcoptionmemberMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_HestonmemberMember_ifrs-full_RangeAxis_ifrs-full_WeightedAverageMember">35.12</bbva:Forwardvolatility>
  <bbva:Forwardvolatility id="ID_8899" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_EquityotcoptionmemberMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_HestonmemberMember_ifrs-full_RangeAxis_ifrs-full_TopOfRangeMember">35.12</bbva:Forwardvolatility>
  <bbva:Pricevolatility id="ID_8900" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_EquityotcoptionmemberMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_LocalvolatilitymemberMember_ifrs-full_RangeAxis_ifrs-full_BottomOfRangeMember">2.49</bbva:Pricevolatility>
  <bbva:Pricevolatility id="ID_8901" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_EquityotcoptionmemberMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_LocalvolatilitymemberMember_ifrs-full_RangeAxis_ifrs-full_WeightedAverageMember">23.21</bbva:Pricevolatility>
  <bbva:Pricevolatility id="ID_8902" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_EquityotcoptionmemberMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_LocalvolatilitymemberMember_ifrs-full_RangeAxis_ifrs-full_TopOfRangeMember">60.90</bbva:Pricevolatility>
  <bbva:Pricevolatility id="ID_8903" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_EquityotcoptionmemberMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_LocalvolatilitymemberMember_ifrs-full_RangeAxis_bbva_UnitsMember">Vegas</bbva:Pricevolatility>
  <bbva:Pricevolatility id="ID_8904" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_EquityotcfxoptionMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_BlackscholeslocalvoatilityMember_ifrs-full_RangeAxis_ifrs-full_BottomOfRangeMember">3.70</bbva:Pricevolatility>
  <bbva:Pricevolatility id="ID_8905" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_EquityotcfxoptionMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_BlackscholeslocalvoatilityMember_ifrs-full_RangeAxis_ifrs-full_WeightedAverageMember">6.30</bbva:Pricevolatility>
  <bbva:Pricevolatility id="ID_8906" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_EquityotcfxoptionMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_BlackscholeslocalvoatilityMember_ifrs-full_RangeAxis_ifrs-full_TopOfRangeMember">10.05</bbva:Pricevolatility>
  <bbva:Pricevolatility id="ID_8907" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_EquityotcfxoptionMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_BlackscholeslocalvoatilityMember_ifrs-full_RangeAxis_bbva_UnitsMember">Vegas</bbva:Pricevolatility>
  <bbva:SignificantunobservableBeta id="ID_8908" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_InterestrateoptionmemberMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_LibormarketmodelmemberMember_ifrs-full_RangeAxis_ifrs-full_BottomOfRangeMember">0.25</bbva:SignificantunobservableBeta>
  <bbva:SignificantunobservableBeta id="ID_8909" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_InterestrateoptionmemberMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_LibormarketmodelmemberMember_ifrs-full_RangeAxis_ifrs-full_WeightedAverageMember">2.00</bbva:SignificantunobservableBeta>
  <bbva:SignificantunobservableBeta id="ID_8910" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_InterestrateoptionmemberMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_LibormarketmodelmemberMember_ifrs-full_RangeAxis_ifrs-full_TopOfRangeMember">18.00</bbva:SignificantunobservableBeta>
  <bbva:SignificantunobservableBeta id="ID_8911" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_InterestrateoptionmemberMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_LibormarketmodelmemberMember_ifrs-full_RangeAxis_bbva_UnitsMember">%</bbva:SignificantunobservableBeta>
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  <bbva:Correlationratecredit id="ID_8913" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_InterestrateoptionmemberMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_LibormarketmodelmemberMember_ifrs-full_RangeAxis_ifrs-full_TopOfRangeMember">100</bbva:Correlationratecredit>
  <bbva:Correlationratecredit id="ID_8914" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_InterestrateoptionmemberMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_LibormarketmodelmemberMember_ifrs-full_RangeAxis_bbva_UnitsMember">%</bbva:Correlationratecredit>
  <bbva:Creditdefaultvolatility id="ID_8915" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_InterestrateoptionmemberMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_LibormarketmodelmemberMember_ifrs-full_RangeAxis_ifrs-full_BottomOfRangeMember">-</bbva:Creditdefaultvolatility>
  <bbva:Creditdefaultvolatility id="ID_8916" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FinancialinstrumentssignificantunobservableinputstableAxis_bbva_InterestrateoptionmemberMember_bbva_ValuationtechniquesusedinfairvalueaxisAxis_bbva_LibormarketmodelmemberMember_ifrs-full_RangeAxis_ifrs-full_WeightedAverageMember">-</bbva:Creditdefaultvolatility>
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  <bbva:AcquisitionsDisposalsLiquidationsAssets id="ID_8922" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_Fairvaluelevel3assetsaxisAxis_bbva_AssetsMember" unitRef="EUR" decimals="INF">5000000</bbva:AcquisitionsDisposalsLiquidationsAssets>
  <bbva:Netinflowslevel3assets id="ID_8923" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_Fairvaluelevel3assetsaxisAxis_bbva_AssetsMember" unitRef="EUR" decimals="INF">77000000</bbva:Netinflowslevel3assets>
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  <ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyLiabilities id="ID_8945" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_DerivatesMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyLiabilities>
  <ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyLiabilities id="ID_8946" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyLiabilities>
  <ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyLiabilities id="ID_8947" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_FinancialliabilitiesatfairvaluethroughprofitorlossclassifiedasheldfortradingmemberMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyLiabilities>
  <ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyLiabilities id="ID_8948" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_TotalMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:TransfersOutOfLevel2IntoLevel1OfFairValueHierarchyLiabilities>
  <bbva:Transfersoutoflevel2intolevel3offairvaluehierarchyliabilities id="ID_8949" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_DerivatesMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">27000000</bbva:Transfersoutoflevel2intolevel3offairvaluehierarchyliabilities>
  <bbva:Transfersoutoflevel2intolevel3offairvaluehierarchyliabilities id="ID_8950" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</bbva:Transfersoutoflevel2intolevel3offairvaluehierarchyliabilities>
  <bbva:Transfersoutoflevel2intolevel3offairvaluehierarchyliabilities id="ID_8951" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_FinancialliabilitiesatfairvaluethroughprofitorlossclassifiedasheldfortradingmemberMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">27000000</bbva:Transfersoutoflevel2intolevel3offairvaluehierarchyliabilities>
  <bbva:Transfersoutoflevel2intolevel3offairvaluehierarchyliabilities id="ID_8952" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_TotalMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">54000000</bbva:Transfersoutoflevel2intolevel3offairvaluehierarchyliabilities>
  <bbva:Transfersoutoflevel3intolevel1ffairvaluehierarchyliabilities id="ID_8953" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_DerivatesMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</bbva:Transfersoutoflevel3intolevel1ffairvaluehierarchyliabilities>
  <bbva:Transfersoutoflevel3intolevel1ffairvaluehierarchyliabilities id="ID_8954" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</bbva:Transfersoutoflevel3intolevel1ffairvaluehierarchyliabilities>
  <bbva:Transfersoutoflevel3intolevel1ffairvaluehierarchyliabilities id="ID_8955" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_FinancialliabilitiesatfairvaluethroughprofitorlossclassifiedasheldfortradingmemberMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</bbva:Transfersoutoflevel3intolevel1ffairvaluehierarchyliabilities>
  <bbva:Transfersoutoflevel3intolevel1ffairvaluehierarchyliabilities id="ID_8956" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_TotalMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</bbva:Transfersoutoflevel3intolevel1ffairvaluehierarchyliabilities>
  <bbva:Transfersoutoflevel3intolevel2offairvaluehierarchyliabilities id="ID_8957" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_DerivatesMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">125000000</bbva:Transfersoutoflevel3intolevel2offairvaluehierarchyliabilities>
  <bbva:Transfersoutoflevel3intolevel2offairvaluehierarchyliabilities id="ID_8958" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</bbva:Transfersoutoflevel3intolevel2offairvaluehierarchyliabilities>
  <bbva:Transfersoutoflevel3intolevel2offairvaluehierarchyliabilities id="ID_8959" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_FinancialliabilitiesatfairvaluethroughprofitorlossclassifiedasheldfortradingmemberMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">2679000000</bbva:Transfersoutoflevel3intolevel2offairvaluehierarchyliabilities>
  <bbva:Transfersoutoflevel3intolevel2offairvaluehierarchyliabilities id="ID_8960" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiestransfersbetweenlevelsaxisAxis_bbva_TotalMember_bbva_LevelsoffairvaluehierarchytransferofliabilitiesaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">2804000000</bbva:Transfersoutoflevel3intolevel2offairvaluehierarchyliabilities>
  <bbva:Transfersintolevel1offairvaluehierarchyassets id="ID_8961" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">1000000</bbva:Transfersintolevel1offairvaluehierarchyassets>
  <bbva:Transfersintolevel1offairvaluehierarchyassets id="ID_8962" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</bbva:Transfersintolevel1offairvaluehierarchyassets>
  <bbva:Transfersintolevel1offairvaluehierarchyassets id="ID_8963" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">1000000</bbva:Transfersintolevel1offairvaluehierarchyassets>
  <bbva:Transfersintolevel1offairvaluehierarchyassets id="ID_8964" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</bbva:Transfersintolevel1offairvaluehierarchyassets>
  <bbva:Transfersintolevel1offairvaluehierarchyassets id="ID_8965" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_ifrs-full_DerivativesMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</bbva:Transfersintolevel1offairvaluehierarchyassets>
  <bbva:Transfersintolevel1offairvaluehierarchyassets id="ID_8966" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetstransfersbetweenlevelsaxisAxis_bbva_TotalMember_bbva_TransferbetweenlevelsassetstableaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">2000000</bbva:Transfersintolevel1offairvaluehierarchyassets>
  <bbva:DisclosureFeeAndCommissionIncomeExplanatory id="ID_8967" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:424.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:424.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:250.5pt;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:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&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:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&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:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Bills receivables&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;39&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;39&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;46&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Demand accounts&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;526&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;451&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;507&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Credit and debit cards and TPVs&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;3,083&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;2,900&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;2,834&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Checks&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;203&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;194&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;212&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Transfers and other payment orders&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;735&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;689&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;648&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Insurance product commissions&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;172&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;178&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;200&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Loan commitments given&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;222&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;223&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;231&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Other commitments and financial guarantees given&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;392&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;390&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;396&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Asset management&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;1,066&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;1,023&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;923&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Securities fees&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;319&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;325&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;385&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Custody securities&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;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;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;122&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Other fees and commissions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-bottom-style:solid;border-bottom-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-bottom-style:solid;border-bottom-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;642&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-bottom-style:solid;border-bottom-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;598&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-bottom-style:solid;border-bottom-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;645&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:middle;background-color:#5AC4C4;border-color:Black;min-width:250.5pt;' &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:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:43.5pt;' &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:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,522&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;background-color:#5AC4C4;border-color:Black;min-width:43.5pt;' &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:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:43.5pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:DisclosureFeeAndCommissionIncomeExplanatory>
  <bbva:DisclosureFeeAndCommissionExpenseExplanatory id="ID_8968" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:429.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:429.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:234.75pt;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:234.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:234.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:234.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:234.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:234.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,662&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,458&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:234.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:234.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;150&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;123&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:234.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:234.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;54&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:234.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:234.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:12pt;' &gt;&lt;td style='width:234.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:234.75pt;' &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:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;557&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;539&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:234.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:234.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,489&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:DisclosureFeeAndCommissionExpenseExplanatory>
  <bbva:Tier3financialinstruments id="ID_8969" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsheldfortradingMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember" unitRef="EUR" decimals="INF">5000000</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8970" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsheldfortradingMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember" unitRef="EUR" decimals="INF">-60000000</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8971" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsheldfortradingMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_bbva_LoansandreceivablesMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8972" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsheldfortradingMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_bbva_LoansandreceivablesMember" unitRef="EUR" decimals="INF">-10000000</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8973" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsheldfortradingMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_ifrs-full_DebtSecuritiesMember" unitRef="EUR" decimals="INF">3000000</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8974" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsheldfortradingMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_ifrs-full_DebtSecuritiesMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8975" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsheldfortradingMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_bbva_EquityinstrumentsMember" unitRef="EUR" decimals="INF">1000000</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8976" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsheldfortradingMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_bbva_EquityinstrumentsMember" unitRef="EUR" decimals="INF">-48000000</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8977" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsheldfortradingMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_ifrs-full_DerivativesMember" unitRef="EUR" decimals="INF">2000000</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8978" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsheldfortradingMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_ifrs-full_DerivativesMember" unitRef="EUR" decimals="INF">-2000000</bbva:Tier3financialinstruments>
  <bbva:Gainsorlossesonfinancialassetsandliabilitiesandexchangedifferencesbreakdownbyheadingotheconsolidatedincomestatements id="ID_8979" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:23.25pt;' &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:#02A5A5;' &gt;Gains (losses) on financial assets and liabilities, hedge accounting and exchange differences, net. Breakdown by heading (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:28.5pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.45pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains (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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;239&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;216&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;985&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Financial assets at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;65&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;133&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other financial assets and liabilities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;173&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;164&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;852&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains (losses) on financial assets and liabilities held for trading, net&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;451&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;707&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;218&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other gains (losses)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;451&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;707&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:45.75pt;' &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:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;143&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:45.75pt;' &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:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other gains (losses)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;143&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:45.75pt;' &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:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains (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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(94)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;143&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:12.6pt;' &gt;&lt;td style='width:303pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains (losses) from hedge accounting, net &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;72&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:12.6pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal gains (losses) on financial assets and liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;798&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;938&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;586&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,030&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:303pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,383&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Gainsorlossesonfinancialassetsandliabilitiesandexchangedifferencesbreakdownbyheadingotheconsolidatedincomestatements>
  <bbva:Tier3financialinstruments id="ID_8980" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsheldfortradingMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8981" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsheldfortradingMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8982" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsheldfortradingMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_bbva_LoansandreceivablesMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8983" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsheldfortradingMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_bbva_LoansandreceivablesMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8984" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsheldfortradingMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_ifrs-full_DebtSecuritiesMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8985" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsheldfortradingMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_ifrs-full_DebtSecuritiesMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8986" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsheldfortradingMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_bbva_EquityinstrumentsMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8987" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsheldfortradingMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_bbva_EquityinstrumentsMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8988" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsheldfortradingMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_ifrs-full_DerivativesMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8989" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsheldfortradingMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_ifrs-full_DerivativesMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
  <bbva:Gainsorlossesonfinancialassetsandliabilitiesandexchangedifferencesbreakdownbynatureofthefinancialinstrument id="ID_8990" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:443.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:443.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:266.25pt;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:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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:8pt;font-weight:bold;color:#072146;' &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:8pt;font-weight:bold;color:#072146;' &gt;2019&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:8pt;font-weight:bold;color:#072146;' &gt;2018&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:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:266.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:266.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;972&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:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;354&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;545&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:266.25pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(253)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;845&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:266.25pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,098)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;927&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(470)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:266.25pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;103&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(172)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:266.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:266.25pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;240&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:266.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:8pt;color:#000000;' &gt;(490)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:8pt;color:#000000;' &gt;138&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:8pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:266.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:266.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;798&lt;/font&gt;&lt;/td&gt;&lt;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;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;938&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Gainsorlossesonfinancialassetsandliabilitiesandexchangedifferencesbreakdownbynatureofthefinancialinstrument>
  <bbva:Derivativeshedgeaccountingincome id="ID_8991" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:471pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:471pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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: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:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &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:52.5pt;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:52.5pt;' &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:52.5pt;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:52.5pt;' &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:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(64)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;165&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;color:#000000;' &gt;Securities agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,079)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &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:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;99&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;color:#000000;' &gt;Credit derivative agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;74&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(109)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(564)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;color:#000000;' &gt;Foreign-exchange agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(60)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;606&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;315&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;color:#000000;' &gt;Other agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(35)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(24)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:13.5pt;' &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;background-color:#5AC4C4;border-color:Black;min-width:261pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(1,158)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(261)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(177)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(150)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(236)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;45&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;237&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:8pt;color:#000000;' &gt;Cash flow hedges&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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: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:#5AC4C4;border-color:Black;min-width:261pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(209)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:#5AC4C4;border-color:Black;min-width:261pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(1,098)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(470)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Derivativeshedgeaccountingincome>
  <bbva:Tier3financialinstruments id="ID_8992" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember" unitRef="EUR" decimals="INF">367000000</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8993" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember" unitRef="EUR" decimals="INF">-66000000</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8994" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_bbva_LoansandreceivablesMember" unitRef="EUR" decimals="INF">354000000</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8995" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_bbva_LoansandreceivablesMember" unitRef="EUR" decimals="INF">-61000000</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8996" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_ifrs-full_DebtSecuritiesMember" unitRef="EUR" decimals="INF">7000000</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8997" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_ifrs-full_DebtSecuritiesMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8998" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_bbva_EquityinstrumentsMember" unitRef="EUR" decimals="INF">5000000</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_8999" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_bbva_EquityinstrumentsMember" unitRef="EUR" decimals="INF">-6000000</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_9000" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_9001" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_9002" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_bbva_LoansandreceivablesMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_9003" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_bbva_LoansandreceivablesMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_9004" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_ifrs-full_DebtSecuritiesMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_9005" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_ifrs-full_DebtSecuritiesMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_9006" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_bbva_EquityinstrumentsMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_9007" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember_bbva_Financialinstrumentslevel3axisAxis_bbva_EquityinstrumentsMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_9008" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsdesignatedatfairvaluethroughprofitorlossMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_9009" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsdesignatedatfairvaluethroughprofitorlossMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_9010" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsdesignatedatfairvaluethroughprofitorlossMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_9011" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsdesignatedatfairvaluethroughprofitorlossMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_9012" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsdesignatedatfairvaluethroughothercomprehensiveincomeMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_9013" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsdesignatedatfairvaluethroughothercomprehensiveincomeMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember" unitRef="EUR" decimals="INF">0</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_9014" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsdesignatedatfairvaluethroughothercomprehensiveincomeMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember" unitRef="EUR" decimals="INF">10000000</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_9015" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_Classesofassetslevel3axisAxis_bbva_FinancialassetsdesignatedatfairvaluethroughothercomprehensiveincomeMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember" unitRef="EUR" decimals="INF">-1000000</bbva:Tier3financialinstruments>
  <bbva:OtherOperatingIncomeExplanatory id="ID_9016" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:471pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:471pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Other operating income (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25.5pt;' &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:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;258&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;458&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:13.5pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;91&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;283&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;884&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other operating income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;413&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;491&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:261pt;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:8pt;font-style:italic;color:#666666;' &gt;Of which: Hyperinflation adjustment  (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;146&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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:#5AC4C4;border-color:Black;min-width:261pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;671&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:OtherOperatingIncomeExplanatory>
  <bbva:Tier3financialinstruments id="ID_9017" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember" unitRef="EUR" decimals="INF">372000000</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_9018" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_ResultsmemberMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember" unitRef="EUR" decimals="INF">-126000000</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_9019" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember" unitRef="EUR" decimals="INF">10000000</bbva:Tier3financialinstruments>
  <bbva:Tier3financialinstruments id="ID_9020" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember" unitRef="EUR" decimals="INF">-1000000</bbva:Tier3financialinstruments>
  <bbva:OtherOperatingExpenseExplanatory id="ID_9021" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:470.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:470.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Other operating expense (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &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:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:287.25pt;border-top-style:solid;border-top-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;color:#000000;' &gt;Change in inventories&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;292&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;886&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;68&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;248&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;816&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other operating expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,899&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,337&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: Contributions to guaranteed banks deposits funds &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;770&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;727&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;703&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:middle;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: Hyperinflation adjustment (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;538&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;494&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;31&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:middle;background-color:#5AC4C4;border-color:Black;min-width:287.25pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,006&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:OtherOperatingExpenseExplanatory>
  <bbva:Tier3liabilitiesoffinancialinstruments id="ID_9022" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsliabilitiesaxisAxis_bbva_ResultsmemberMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember_bbva_ClassesofliabiltitiesmemberAxis_bbva_FinancialliabilitiesheldfortradingMember" unitRef="EUR" decimals="INF">3000000</bbva:Tier3liabilitiesoffinancialinstruments>
  <bbva:Tier3liabilitiesoffinancialinstruments id="ID_9023" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsliabilitiesaxisAxis_bbva_ResultsmemberMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember_bbva_ClassesofliabiltitiesmemberAxis_bbva_FinancialliabilitiesheldfortradingMember" unitRef="EUR" decimals="INF">-3000000</bbva:Tier3liabilitiesoffinancialinstruments>
  <bbva:Tableofinsuranceandreinsurancecontractsincomeandexpensesexplanatory id="ID_9024" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:492.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:492.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:21.75pt;' &gt;&lt;td style='width:297.75pt;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:297.75pt;' &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:48.75pt;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:48.75pt;' &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:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:297.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,890&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,342&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:297.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Expense on insurance and reinsurance contracts&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,751)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2,272)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:297.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:297.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofinsuranceandreinsurancecontractsincomeandexpensesexplanatory>
  <bbva:Tier3liabilitiesoffinancialinstruments id="ID_9025" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsliabilitiesaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember_bbva_ClassesofliabiltitiesmemberAxis_bbva_FinancialliabilitiesheldfortradingMember" unitRef="EUR" decimals="INF">0</bbva:Tier3liabilitiesoffinancialinstruments>
  <bbva:Tier3liabilitiesoffinancialinstruments id="ID_9026" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsliabilitiesaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember_bbva_ClassesofliabiltitiesmemberAxis_bbva_FinancialliabilitiesheldfortradingMember" unitRef="EUR" decimals="INF">0</bbva:Tier3liabilitiesoffinancialinstruments>
  <bbva:Tier3liabilitiesoffinancialinstruments id="ID_9027" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsliabilitiesaxisAxis_bbva_ResultsmemberMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember" unitRef="EUR" decimals="INF">3000000</bbva:Tier3liabilitiesoffinancialinstruments>
  <bbva:Tier3liabilitiesoffinancialinstruments id="ID_9028" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsliabilitiesaxisAxis_bbva_ResultsmemberMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember" unitRef="EUR" decimals="INF">-3000000</bbva:Tier3liabilitiesoffinancialinstruments>
  <bbva:Tier3liabilitiesoffinancialinstruments id="ID_9029" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsliabilitiesaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_ClassesofhypothesisaxisAxis_bbva_FavourablehypothesisMember" unitRef="EUR" decimals="INF">0</bbva:Tier3liabilitiesoffinancialinstruments>
  <bbva:Tier3liabilitiesoffinancialinstruments id="ID_9030" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_BalancestatmentelementsliabilitiesaxisAxis_bbva_OthercomprehensiveimpactmemberMember_bbva_ClassesofhypothesisaxisAxis_bbva_DesfavourablehypothesisMember" unitRef="EUR" decimals="INF">0</bbva:Tier3liabilitiesoffinancialinstruments>
  <bbva:Incomebytypeofinsuranceproduct id="ID_9031" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:440.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:440.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Income by type of insurance product (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;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:255.75pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;631&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;682&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;604&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Individual&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;477&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;486&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:12.75pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Savings&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:12.75pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;361&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;430&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;308&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;154&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;196&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;258&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Savings&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:12.75pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;127&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;157&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;263&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Non-Life insurance&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;508&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;373&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;464&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;110&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:12.75pt;' &gt;&lt;td style='width:255.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;418&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;263&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:12.75pt;' &gt;&lt;td style='width:255.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:255.75pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Incomebytypeofinsuranceproduct>
  <bbva:Personnelexpensesbreakdownexplanatory id="ID_9032" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:#02A5A5;' &gt;Personnel expense (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &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:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:250.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,920&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,163&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &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:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;780&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;722&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;761&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &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:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;89&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &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:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;58&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:250.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other personnel expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;478&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;465&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;497&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &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:middle;background-color:#5AC4C4;border-color:Black;min-width:250.5pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,340&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Personnelexpensesbreakdownexplanatory>
  <ifrs-full:Assets id="ID_9033" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesofassetscarriedatcostaxisAxis_bbva_CashcashbalancesatcentralbanksandotherdemanddepositMember_bbva_LeveloffairvaluehierarchyaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember_ifrs-full_MeasurementAxis_ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" unitRef="EUR" decimals="INF">44111000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_9034" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesofassetscarriedatcostaxisAxis_bbva_CashcashbalancesatcentralbanksandotherdemanddepositMember_bbva_LeveloffairvaluehierarchyaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember_ifrs-full_MeasurementAxis_ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" unitRef="EUR" decimals="INF">0</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_9035" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesofassetscarriedatcostaxisAxis_bbva_CashcashbalancesatcentralbanksandotherdemanddepositMember_bbva_LeveloffairvaluehierarchyaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember_ifrs-full_MeasurementAxis_ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" unitRef="EUR" decimals="INF">192000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_9036" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesofassetscarriedatcostaxisAxis_bbva_FinancialassetsatamortizedcostmemberMember_bbva_LeveloffairvaluehierarchyaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember_ifrs-full_MeasurementAxis_ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" unitRef="EUR" decimals="INF">29391000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_9037" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesofassetscarriedatcostaxisAxis_bbva_FinancialassetsatamortizedcostmemberMember_bbva_LeveloffairvaluehierarchyaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember_ifrs-full_MeasurementAxis_ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" unitRef="EUR" decimals="INF">217279000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_9038" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesofassetscarriedatcostaxisAxis_bbva_FinancialassetsatamortizedcostmemberMember_bbva_LeveloffairvaluehierarchyaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember_ifrs-full_MeasurementAxis_ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" unitRef="EUR" decimals="INF">196119000000</ifrs-full:Assets>
  <bbva:Otheradministrativeexpensesexplanatory id="ID_9039" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:8pt;color:#02A5A5;' &gt;Other administrative expense (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &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:left;vertical-align:middle;border-color:Black;min-width:292.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&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:middle;border-color:Black;min-width:292.5pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,216&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:292.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:292.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Communications &lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;218&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;235&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;269&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:292.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:292.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Advertising&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;317&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;336&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;352&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:292.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:292.5pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;552&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;982&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,033&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:292.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:292.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: Rent expense (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;106&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;552&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;581&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:292.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:292.5pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;401&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;417&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:292.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:292.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,258&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,412&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;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:292.5pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,963&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Otheradministrativeexpensesexplanatory>
  <ifrs-full:Assets id="ID_9040" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetscarriedatcostaxisAxis_bbva_CashcashbalancesatcentralbanksandotherdemanddepositMember_bbva_LeveloffairvaluehierarchyaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember_ifrs-full_MeasurementAxis_ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" unitRef="EUR" decimals="INF">58024000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_9041" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetscarriedatcostaxisAxis_bbva_CashcashbalancesatcentralbanksandotherdemanddepositMember_bbva_LeveloffairvaluehierarchyaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember_ifrs-full_MeasurementAxis_ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" unitRef="EUR" decimals="INF">0</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_9042" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetscarriedatcostaxisAxis_bbva_CashcashbalancesatcentralbanksandotherdemanddepositMember_bbva_LeveloffairvaluehierarchyaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember_ifrs-full_MeasurementAxis_ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" unitRef="EUR" decimals="INF">172000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_9043" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetscarriedatcostaxisAxis_bbva_FinancialassetsatamortizedcostmemberMember_bbva_LeveloffairvaluehierarchyaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember_ifrs-full_MeasurementAxis_ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" unitRef="EUR" decimals="INF">21419000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_9044" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetscarriedatcostaxisAxis_bbva_FinancialassetsatamortizedcostmemberMember_bbva_LeveloffairvaluehierarchyaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember_ifrs-full_MeasurementAxis_ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" unitRef="EUR" decimals="INF">204619000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_9045" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetscarriedatcostaxisAxis_bbva_FinancialassetsatamortizedcostmemberMember_bbva_LeveloffairvaluehierarchyaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember_ifrs-full_MeasurementAxis_ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" unitRef="EUR" decimals="INF">193819000000</ifrs-full:Assets>
  <ifrs-full:Liabilities id="ID_9046" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiescarriedatcostaxisaxisAxis_bbva_FinancialliabilitiesatamortizedcostMember_bbva_FairValueInstrumentsCarriedAtCostAssetsmemberAxis_ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember_bbva_LeveloffairvaluehierarchliabilitiesyaxisaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">67229000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_9047" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiescarriedatcostaxisaxisAxis_bbva_FinancialliabilitiesatamortizedcostMember_bbva_FairValueInstrumentsCarriedAtCostAssetsmemberAxis_ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember_bbva_LeveloffairvaluehierarchliabilitiesyaxisaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">289599000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_9048" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiescarriedatcostaxisaxisAxis_bbva_FinancialliabilitiesatamortizedcostMember_bbva_FairValueInstrumentsCarriedAtCostAssetsmemberAxis_ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember_bbva_LeveloffairvaluehierarchliabilitiesyaxisaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">159082000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_9049" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiescarriedatcostaxisaxisAxis_bbva_FinancialliabilitiesatamortizedcostMember_bbva_FairValueInstrumentsCarriedAtCostAssetsmemberAxis_ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember_bbva_LeveloffairvaluehierarchliabilitiesyaxisaxisAxis_ifrs-full_Level1OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">58225000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_9050" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiescarriedatcostaxisaxisAxis_bbva_FinancialliabilitiesatamortizedcostMember_bbva_FairValueInstrumentsCarriedAtCostAssetsmemberAxis_ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember_bbva_LeveloffairvaluehierarchliabilitiesyaxisaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">269128000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_9051" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiescarriedatcostaxisaxisAxis_bbva_FinancialliabilitiesatamortizedcostMember_bbva_FairValueInstrumentsCarriedAtCostAssetsmemberAxis_ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember_bbva_LeveloffairvaluehierarchliabilitiesyaxisaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">182948000000</ifrs-full:Liabilities>
  <bbva:Tableofdepreciationandamortisationexpenseexplanatory id="ID_9052" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:456pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:456pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:54pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;979&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;594&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;694&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:54pt;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;584&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;589&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;680&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:54pt;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Right-of-use assets (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;392&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &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:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;620&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;613&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;694&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:240pt;' &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:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &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:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,599&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &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:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofdepreciationandamortisationexpenseexplanatory>
  <bbva:Tableofprovisionsexplanatory id="ID_9053" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:#02A5A5;' &gt;Provisions or (reversal) of provisions (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25.5pt;' &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:#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:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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:#072146;' &gt;2019&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:#072146;' &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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:276.75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;Pensions and other post employment defined benefit obligations&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;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;214&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;125&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;343&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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: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;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;93&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;(48)&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;(313)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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: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;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;170&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;133&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;318&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:276.75pt;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;color:#000000;' &gt;Other provisions &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: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;140&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;163&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;397&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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:#5AC4C4;border-color:Black;min-width:276.75pt;' &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:#5AC4C4;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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;745&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofprovisionsexplanatory>
  <bbva:Tableofimpairmentorreversalofimpairmentonfinancialassetsnotmeasuredatfairvaluethroughprofitorlossexplanatory id="ID_9054" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:474.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:474.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Impairment or (reversal) of impairment on financial assets not measured at fair value through profit or loss or net gains by modification (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &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:#0A5FB4;' &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:#072146;' &gt;Notes&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:#072146;' &gt;2019&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:#072146;' &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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24pt;' &gt;&lt;td style='width:276.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Financial assets at fair value through other comprehensive income &lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-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;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;82&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&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;1,127&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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:49.5pt;text-align:center;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:#666666;' &gt;82&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &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:8pt;color:#666666;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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:49.5pt;text-align:center;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;background-color:#D9D9D9;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;background-color:#D9D9D9;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;color:#666666;' &gt;1,131&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:middle;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Financial assets at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:center;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;4,069&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,980&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,677&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:middle;border-color:Black;min-width:276.75pt;' &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:49.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;7.1.5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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:#666666;' &gt;919&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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:#666666;' &gt;589&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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:#666666;' &gt;558&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:middle;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Held to maturity investments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;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;background-color:#D9D9D9;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;background-color:#D9D9D9;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;(1)&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;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;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:center;vertical-align:middle;background-color:#5AC4C4;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:#5AC4C4;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,151&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:#5AC4C4;border-color:Black;min-width:49.5pt;' &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: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:#5AC4C4;border-color:Black;min-width:49.5pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofimpairmentorreversalofimpairmentonfinancialassetsnotmeasuredatfairvaluethroughprofitorlossexplanatory>
  <bbva:Tableofimpairmentorreversalofimpairmentonnonfinancialassetsexplanatory id="ID_9055" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:519pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:519pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&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;Tangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;94&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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: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;Intangible assets (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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: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;Others   &lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;306&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:#5AC4C4;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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,447&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;364&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofimpairmentorreversalofimpairmentonnonfinancialassetsexplanatory>
  <ifrs-full:Liabilities id="ID_9056" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">643765000000</ifrs-full:Liabilities>
  <bbva:Tableofgainslossesonderecognitionofnonfinancialassetsandsubsidiariesnetexplanatory id="ID_9057" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:8pt;color:#02A5A5;' &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:292.5pt;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:292.5pt;' &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:48.75pt;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:48.75pt;' &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:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#000000;' &gt;Disposal of investments in non-consolidated subsidiaries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:12.75pt;' &gt;&lt;td style='width:292.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:292.5pt;' &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:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;81&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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: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:8pt;color:#000000;' &gt;Disposal of investments in non-consolidated subsidiaries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:292.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:292.5pt;' &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:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(37)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(45)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:14.25pt;' &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:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:292.5pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofgainslossesonderecognitionofnonfinancialassetsandsubsidiariesnetexplanatory>
  <bbva:Tableofprofitorlossfromnoncurrentassetsanddisposalgroupsclassifiedasheldforsalenotqualifyingasdiscontinuedoperationsexplanatory id="ID_9058" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:#02A5A5;' &gt;Gain (losses) 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:12.75pt;' &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:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &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:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&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:middle;border-color:Black;min-width:276.75pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;89&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(77)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(208)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:22.5pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains (losses) on sale of investments classified as non-current assets held for sale (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;894&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:13.5pt;' &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:#5AC4C4;border-color:Black;min-width:276.75pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofprofitorlossfromnoncurrentassetsanddisposalgroupsclassifiedasheldforsalenotqualifyingasdiscontinuedoperationsexplanatory>
  <bbva:Tableofconsolidatedstatementofcashflow id="ID_9059" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:586.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:586.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:224.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:top;border-color:Black;min-width:224.25pt;' &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:51.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;December 31, 2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:51.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Cash flows &lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:207pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:207pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Non-cash changes&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:51.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;December 31, 2019&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:top;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;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:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Acquisition&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;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:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Disposal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;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:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Foreign exchange movement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;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:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Fair value changes&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;Liabilities at amortized cost: Debt certificates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;61,112 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;2,643 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;209 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;63,963 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: Issuances of subordinated liabilities (*) &lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;17,635 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;(190)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &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:51.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &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:51.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;229 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &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:51.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;17,675 &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;table style='border-collapse:collapse;' &gt;&lt;tr style='height:16.5pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:602.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:602.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:top;border-color:Black;min-width:192.75pt;' &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:58.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;December 31, 2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Cash flows &lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:234pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:234pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Non-cash changes&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;December 31, 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:top;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;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:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Acquisition&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;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:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Disposal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;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:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Foreign exchange movement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;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:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Fair value changes&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;Liabilities at amortized cost: Debt certificates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;61,649 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;2,152 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(1,828)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(862)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;61,112 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.6pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: Issuances of subordinated liabilities (*) &lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;17,443 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;857 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &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:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;(694)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;29 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &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:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;17,635 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofconsolidatedstatementofcashflow>
  <bbva:Disclosurebalancesarisingfromtransactionswithentitiesofthegroupexplanatory id="ID_9060" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:#02A5A5;' &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:18pt;' &gt;&lt;td style='width:224.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:224.25pt;' &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: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:8pt;font-weight:bold;color:#004481;' &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:8pt;font-weight:bold;color:#072146;' &gt;2019&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:8pt;font-weight:bold;color:#072146;' &gt;2018&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:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:224.25pt;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:224.25pt;' &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: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:8pt;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:8pt;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:8pt;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:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:224.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &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: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:8pt;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;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&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:8pt;color:#000000;' &gt;132&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:8pt;color:#000000;' &gt;91&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:224.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &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: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:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;1,682&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:8pt;color:#000000;' &gt;1,866&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:8pt;color:#000000;' &gt;510&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:224.25pt;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:224.25pt;' &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: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:8pt;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:8pt;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:8pt;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:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:224.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &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: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:8pt;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;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&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:8pt;color:#000000;' &gt;2&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:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &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:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:8pt;color:#000000;' &gt;453&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:8pt;color:#000000;' &gt;521&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:8pt;color:#000000;' &gt;428&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:224.25pt;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:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Memorandum accounts&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:8pt;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:8pt;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:8pt;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:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:224.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &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: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:8pt;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;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;166&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:8pt;color:#000000;' &gt;152&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:8pt;color:#000000;' &gt;114&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other contingent commitments given&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:8pt;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:8pt;color:#000000;' &gt;1,042&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:8pt;color:#000000;' &gt;1,358&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:8pt;color:#000000;' &gt;1,175&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &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:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:8pt;color:#000000;' &gt;106&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:8pt;color:#000000;' &gt;78&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:8pt;color:#000000;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosurebalancesarisingfromtransactionswithentitiesofthegroupexplanatory>
  <bbva:Disclosurebalanceofincomestatementarisingfromtransactionswithentitiesofthegroupexplanatory id="ID_9061" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:498pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:498pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Balances of consolidated 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:21pt;' &gt;&lt;td style='width:324pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:324pt;' &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: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:#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: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:#072146;' &gt;2019&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:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&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:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;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:324pt;' &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 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: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;border-bottom-style:solid;border-bottom-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;border-bottom-style:solid;border-bottom-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;border-bottom-style:solid;border-bottom-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;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:324pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Interest and other income&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;19&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;55&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;26&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:324pt;' &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: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;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;2&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;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:324pt;' &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: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;4&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&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&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:324pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fee and commission expense&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;53&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;49&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosurebalanceofincomestatementarisingfromtransactionswithentitiesofthegroupexplanatory>
  <bbva:Disclosureremunerationfornonexecutivedirectorsexplanatory id="ID_9062" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:615pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:615pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Remuneration for non-executive directors (Thousands of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:45.75pt;' &gt;&lt;td style='width:61.5pt;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:61.5pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Board of Directors&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Executive Committee&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Audit Committee &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Risk and Compliance Committee&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Remunerations Committee &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Appointments and Corporate Governance Committee&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Technology and Cybersecurity Committee&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Other functions (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Tom&amp;#225;s Alfaro Drake&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;214&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:61.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Jos&amp;#233; Miguel Andr&amp;#233;s Torrecillas &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;104&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;111&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;483&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:61.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Jaime Caruana Lacorte &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;167&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;110&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;527&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:61.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Bel&amp;#233;n Garijo L&amp;#243;pez&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;68&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;45&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;348&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:61.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Sunir Kumar Kapoor &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;172&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:61.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Carlos Loring Mart&amp;#237;nez de Irujo&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;167&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;445&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:61.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Lourdes M&amp;#225;iz Carro&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;68&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;253&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:61.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Jos&amp;#233; Maldonado Ramos&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;167&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;45&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;340&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:61.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Ana Peralta Moreno &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;68&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;240&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:61.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Juan Pi Llorens &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;214&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;31&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;493&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:61.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Susana Rodr&amp;#237;guez Vidarte &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;167&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;45&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;447&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Jan Verplancke &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;172&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Total (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,545&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;667&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;442&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;642&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;278&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;289&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;186&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;4,134&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureremunerationfornonexecutivedirectorsexplanatory>
  <bbva:Disclosurenumberofsharesexplanatory id="ID_9063" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:34.5pt;' &gt;&lt;td style='width:177pt;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;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:#244061;' &gt;Theoretical shares allocated in 2019&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:#244061;' &gt;Theoretical shares accumulated as at 31 December 2019&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Tom&amp;#225;s Alfaro Drake&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:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;10,138&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:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;93,587&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Jos&amp;#233; Miguel Andr&amp;#233;s Torrecillas&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:9pt;color:#000000;' &gt;19,095&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:9pt;color:#000000;' &gt;55,660&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Jaime Caruana Lacorte&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:9pt;color:#000000;' &gt;9,320&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:9pt;color:#000000;' &gt;9,320&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Bel&amp;#233;n Garijo L&amp;#243;pez&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:9pt;color:#000000;' &gt;12,887&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:9pt;color:#000000;' &gt;47,528&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Sunir Kumar Kapoor&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:9pt;color:#000000;' &gt;6,750&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:9pt;color:#000000;' &gt;15,726&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Carlos Loring Mart&amp;#237;nez de Irujo&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:9pt;color:#000000;' &gt;17,515&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:9pt;color:#000000;' &gt;116,391&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Lourdes M&amp;#225;iz Carro&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:9pt;color:#000000;' &gt;11,160&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:9pt;color:#000000;' &gt;34,320&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Jos&amp;#233; Maldonado Ramos&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:9pt;color:#000000;' &gt;15,328&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:9pt;color:#000000;' &gt;94,323&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Ana Peralta Moreno&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:9pt;color:#000000;' &gt;5,624&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:9pt;color:#000000;' &gt;5,624&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Juan Pi Llorens&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:9pt;color:#000000;' &gt;17,970&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:9pt;color:#000000;' &gt;72,141&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Susana Rodr&amp;#237;guez Vidarte&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:9pt;color:#000000;' &gt;17,431&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:9pt;color:#000000;' &gt;122,414&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;border-bottom-style:solid;border-bottom-width:1;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Jan Verplancke&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:9pt;color:#000000;' &gt;5,203&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:9pt;color:#000000;' &gt;5,203&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:justify;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:177pt;' &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: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:#5AC4C4;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;148,421&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:#5AC4C4;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;672,237&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosurenumberofsharesexplanatory>
  <bbva:Disclosureremunerationofexecutivedirectorsexplanatory id="ID_9064" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:306pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:306pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Annual Fixed Remuneration for 2019 (Thousands of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:183.75pt;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:183.75pt;' &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:122.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:122.25pt;' &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:15pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:183.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:183.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Group Executive Chairman&lt;/font&gt;&lt;/td&gt;&lt;td style='width:122.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:122.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,453&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:183.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:183.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Chief Executive Officer &lt;/font&gt;&lt;/td&gt;&lt;td style='width:122.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:122.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,179&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:183.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:183.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Director de GE&amp;amp;PA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:122.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:122.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;834&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:122.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:122.25pt;' &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:122.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:122.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,466&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;table style='border-collapse:collapse;' &gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:404.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:justify;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:404.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Annual Variable Remuneration for 2018 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='1' rowspan='2' style='width:177pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:177pt;' &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:75.75pt;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:75.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;In cash (1)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='2' style='width:151.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:151.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;In shares (1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &gt;&lt;td style='width:75.75pt;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:75.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;(thousands of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Group Executive Chairman &lt;/font&gt;&lt;/td&gt;&lt;td style='width:75.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;479&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:151.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:151.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;100,436&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Chief Executive Officer (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;200&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:151.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:151.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;41,267&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;border-bottom-style:solid;border-bottom-width:1;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Head of GE&amp;amp;PA &lt;/font&gt;&lt;/td&gt;&lt;td style='width:75.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;79&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:151.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:151.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,641&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:177pt;' &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:75.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:75.75pt;' &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 colspan='2' rowspan='1' style='width:151.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:151.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;158,344&lt;/font&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='4' rowspan='1' style='width:381.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:381.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Deferred Annual Variable Remuneration for 2015&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='1' rowspan='2' style='width:177pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;In cash (1)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='2' style='width:136.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:136.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;In shares (1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;(thousands of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Group Executive Chairman&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;612&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:136.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:136.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;79,157&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Head of GE&amp;amp;PA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;113&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:136.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:136.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;14,667&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#FFFFFF;' &gt;725&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:136.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:136.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#FFFFFF;' &gt;93,824&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureremunerationofexecutivedirectorsexplanatory>
  <bbva:Disclosureremunerationformembersoftheseniormanagementexplanatory id="ID_9065" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:296.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:296.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Annual Fixed Remuneration for 2019 (thousands of Euros) &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:219pt;' &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: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:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Senior Management total&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;13,883&lt;/font&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='3' rowspan='1' style='width:321pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:321pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Annual Variable Remuneration for 2018 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='1' rowspan='2' style='width:177pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:177pt;' &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: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:8pt;font-weight:bold;color:#072146;' &gt;In cash &lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' 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:8pt;font-weight:bold;color:#072146;' &gt;In shares &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &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:8pt;font-weight:bold;color:#072146;' &gt;(thousands of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Senior Management total&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:8pt;color:#000000;' &gt;887&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:8pt;color:#000000;' &gt;185,888&lt;/font&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='3' rowspan='1' style='width:306pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:306pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Annual Variable Remuneration for 2015 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='1' rowspan='2' style='width:177pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:177pt;' &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:64.5pt;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:64.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;In cash &lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:64.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:64.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;In shares &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &gt;&lt;td style='width:64.5pt;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:64.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;(thousands of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Senior Management total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:64.5pt;' &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:64.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:64.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;163,215&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureremunerationformembersoftheseniormanagementexplanatory>
  <bbva:Tableofdividendincomeexplanatory id="ID_9066" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:402pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:402pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Dividend income (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &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: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:8pt;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:8pt;font-weight:bold;color:#072146;' &gt;2019&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:8pt;font-weight:bold;color:#072146;' &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:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&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:bottom;border-color:Black;min-width:282pt;' &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: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:8pt;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:8pt;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:8pt;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:8pt;color:#000000;' &gt;&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: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:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:8pt;color:#000000;' &gt;26&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:8pt;color:#000000;' &gt;19&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:8pt;color:#000000;' &gt;145&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.25pt;' &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;Financial assets at fair value through other comprehensive income&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:8pt;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:8pt;color:#000000;' &gt;136&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:8pt;color:#000000;' &gt;138&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:8pt;color:#000000;' &gt;188&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:#5AC4C4;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: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:#5AC4C4;border-color:Black;min-width:30pt;' &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: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:#5AC4C4;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;162&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:#5AC4C4;border-color:Black;min-width:30pt;' &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: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:#5AC4C4;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;334&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofdividendincomeexplanatory>
  <bbva:Interestexpensesbreakdownbyorigin id="ID_9067" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:#02A5A5;' &gt;Interest expense. 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:303pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,211&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial liabilities designated at fair value through profit or loss &lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;41&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,805&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,321&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,729&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Adjustments of expense as a result of hedging transactions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(246)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(352)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;665&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;753&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;832&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;732&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;86&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;73&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;79&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:303pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;224&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;245&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:303pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;12,859&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Interestexpensesbreakdownbyorigin>
  <bbva:Interestincomebreakdownbyorigin id="ID_9068" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:488.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:488.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Interest and other income. Breakdown by origin (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24pt;' &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:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:276.75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;Financial assets held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,041&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,057&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,306&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;148&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;73&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,815&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,846&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,485&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25,698&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24,572&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24,485&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,079&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,141&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,058&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(74)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(201)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;415&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:276.75pt;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;color:#000000;' &gt;Other income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;343&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;268&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:11.45pt;' &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:#5AC4C4;border-color:Black;min-width:276.75pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;31,061&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Interestincomebreakdownbyorigin>
  <bbva:Eligiblecapitalresources id="ID_9069" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:591pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:591pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Eligible capital resources (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.9pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Capital&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,267&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,267&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:345pt;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Share premium&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,992&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,992&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:345pt;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retained earnings, revaluation reserves and other reserves&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,277&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,724&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other equity instruments, net&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;54&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Treasury shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(62)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(296)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:9.75pt;' &gt;&lt;td style='width:345pt;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Attributable to the parent company&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,512&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,400&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,514&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Attributable dividend&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,172)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;55,958&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;54,326&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;53,283&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accumulated other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7,235)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7,215)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6,939)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non-controlling interest&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,764&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,979&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Shareholders&amp;#39; equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;54,925&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;52,874&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Goodwill and other intangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6,803)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(8,199)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6,627)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Direct and synthetic treasury shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(422)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(135)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Deductions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(7,225)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(8,334)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(6,809)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Temporary CET 1 adjustments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(273)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:61.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;(256)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:61.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Differences from solvency and accounting level&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(215)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(176)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(189)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Equity not eligible at solvency level&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(215)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(462)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Other adjustments and deductions (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(3,832)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(4,049)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(3,711)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Common Equity Tier 1 (CET 1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;43,653&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;40,313&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;42,341&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Additional Tier 1 before Regulatory Adjustments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,048&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,634&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,296&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total Regulatory Adjustments of Additional Tier 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(1,657)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Tier 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;49,701&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;45,947&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;46,980&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Tier 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,304&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,756&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,798&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total Capital (Total Capital=Tier 1 + Tier 2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;58,005&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;54,703&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;55,778&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total Minimum equity required&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;46,540&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;41,576&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;40,370&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Eligiblecapitalresources>
  <bbva:Gpiargentina id="ID_9070" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:#02A5A5;' &gt;General Price Index &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:322.5pt;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:322.5pt;' &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:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:322.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:322.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;GPI&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;184&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:322.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:322.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Average GPI&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;233&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;152&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:322.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:322.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Inflation of the period&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;55%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;48%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Gpiargentina>
  <bbva:Amortizationrate id="ID_9071" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:443.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:443.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:255.75pt;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:255.75pt;' &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:187.5pt;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:187.5pt;' &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:255.75pt;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:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Type of assets&lt;/font&gt;&lt;/td&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:center;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Annual Percentage&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:255.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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:187.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:187.5pt;' &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:12pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Furniture&lt;/font&gt;&lt;/td&gt;&lt;td style='width:187.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:187.5pt;' &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:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fixtures&lt;/font&gt;&lt;/td&gt;&lt;td style='width:187.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:187.5pt;' &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:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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:187.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:187.5pt;' &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>
  <ifrs-full:EffectiveDatesOfRevaluationPropertyPlantAndEquipment id="ID_9072" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DepreciationratefortangibleassetsAxis_bbva_BuildingforownuseMember">1% - 4%</ifrs-full:EffectiveDatesOfRevaluationPropertyPlantAndEquipment>
  <ifrs-full:EffectiveDatesOfRevaluationPropertyPlantAndEquipment id="ID_9073" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DepreciationratefortangibleassetsAxis_bbva_FurnitureMember">8% - 10%</ifrs-full:EffectiveDatesOfRevaluationPropertyPlantAndEquipment>
  <ifrs-full:EffectiveDatesOfRevaluationPropertyPlantAndEquipment id="ID_9074" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DepreciationratefortangibleassetsAxis_bbva_FixturesMember">6% - 12%</ifrs-full:EffectiveDatesOfRevaluationPropertyPlantAndEquipment>
  <ifrs-full:EffectiveDatesOfRevaluationPropertyPlantAndEquipment id="ID_9075" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DepreciationratefortangibleassetsAxis_bbva_OfficesuppliesandhardwareMember">8% - 25%</ifrs-full:EffectiveDatesOfRevaluationPropertyPlantAndEquipment>
  <bbva:Inflationoftheperiod id="ID_9076" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="pure" decimals="INF">0.55</bbva:Inflationoftheperiod>
  <bbva:Inflationoftheperiod id="ID_9077" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="pure" decimals="INF">0.48</bbva:Inflationoftheperiod>
  <ifrs-full:Assets id="ID_9078" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsclassesofassetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsleveloffairvalueAxis_ifrs-full_Level2OfFairValueHierarchyMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsmeasurementaxisAxis_ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" unitRef="EUR" decimals="INF">217279000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_9079" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsclassesofassetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsleveloffairvalueAxis_ifrs-full_Level3OfFairValueHierarchyMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsmeasurementaxisAxis_ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember" unitRef="EUR" decimals="INF">196119000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_9080" contextRef=" " unitRef="EUR" decimals="INF">0</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_9081" contextRef=" " unitRef="EUR" decimals="INF">2000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_9082" contextRef=" " unitRef="EUR" decimals="INF">9049000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_9083" contextRef=" " unitRef="EUR" decimals="INF">4628000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_9084" contextRef=" " unitRef="EUR" decimals="INF">194897000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_9085" contextRef=" " unitRef="EUR" decimals="INF">190144000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_9086" contextRef=" " unitRef="EUR" decimals="INF">13333000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_9087" contextRef=" " unitRef="EUR" decimals="INF">1345000000</ifrs-full:Assets>
  <bbva:Tableofleverageratio id="ID_9088" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:517.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:517.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Capital Base &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &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:middle;border-color:Black;min-width:250.5pt;' &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:66.75pt;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:66.75pt;' &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:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&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;Tier 1 (millions of euros) (a)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;49,701&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45,947&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46,980&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;Exposure (millions of euros) (b)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;731,087&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;705,299&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;709,758&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;Leverage ratio (a)/(b) (percentage)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.80%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.62%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofleverageratio>
  <bbva:Financialinstrumentsvaluationmethodsassets id="ID_9089" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsleveloffairvalueAxis_bbva_DescriptionofvaluationtechniquesusedinfairvaluemeasurementassetsMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesassetsmeasurementaxisAxis_ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember">Present-value method
(Discounted future cash flows)</bbva:Financialinstrumentsvaluationmethodsassets>
  <bbva:Maininputsusedinfinancialinstrumentsassets id="ID_9090" contextRef=" ">- Credit spread
- Prepayment rates
- Interest rate yield</bbva:Maininputsusedinfinancialinstrumentsassets>
  <bbva:Maininputsusedinfinancialinstrumentsassets id="ID_9091" contextRef=" ">- Credit spread
- Prepayment rates
- Interest rate yield</bbva:Maininputsusedinfinancialinstrumentsassets>
  <bbva:Maininputsusedinfinancialinstrumentsassets id="ID_9092" contextRef=" ">- Credit spread
- Prepayment rates
- Interest rate yield</bbva:Maininputsusedinfinancialinstrumentsassets>
  <bbva:Maininputsusedinfinancialinstrumentsassets id="ID_9093" contextRef=" ">- Credit spread
- Interest rate yield</bbva:Maininputsusedinfinancialinstrumentsassets>
  <bbva:Financialinstrumentsvaluationmethodsliabilities id="ID_9094" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesliabilitiesleveloffairvalueaxisAxis_bbva_DescriptionofvaluationtechniquesusedinfairvaluemeasurementassetsMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesliabilitiesmeasurementaxisaxisAxis_ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember">Present-value method
(Discounted future cash flows)</bbva:Financialinstrumentsvaluationmethodsliabilities>
  <bbva:Maininputsusedinfinancialinstrumentsliabilities id="ID_9095" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesliabilitiesleveloffairvalueaxisAxis_bbva_DescriptionofinputsusedinfairvaluemeasurementliabilitiesMember_bbva_FairvalueinstrumentscarriedatcostmainvaluationtechniquesliabilitiesmeasurementaxisaxisAxis_ifrs-full_NotMeasuredAtFairValueInStatementOfFinancialPositionButForWhichFairValueIsDisclosedMember">- Issuer&#180;s credit risk
- Prepayment rates
- Interest rate yield</bbva:Maininputsusedinfinancialinstrumentsliabilities>
  <ifrs-full:Liabilities id="ID_9096" contextRef=" " unitRef="EUR" decimals="INF">289599000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_9097" contextRef=" " unitRef="EUR" decimals="INF">159082000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_9098" contextRef=" " unitRef="EUR" decimals="INF">129000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_9099" contextRef=" " unitRef="EUR" decimals="INF">0</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_9100" contextRef=" " unitRef="EUR" decimals="INF">21575000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_9101" contextRef=" " unitRef="EUR" decimals="INF">6831000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_9102" contextRef=" " unitRef="EUR" decimals="INF">245720000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_9103" contextRef=" " unitRef="EUR" decimals="INF">135514000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_9104" contextRef=" " unitRef="EUR" decimals="INF">14194000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_9105" contextRef=" " unitRef="EUR" decimals="INF">11133000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_9106" contextRef=" " unitRef="EUR" decimals="INF">7981000000</ifrs-full:Liabilities>
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  <ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale id="ID_9454" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CarryingamountaccumulateddepreciationamortisationandimpairmentandgrosscarryingaxisAxis_bbva_NetNonCurrentAssetsAsHeldForSaleMember_bbva_ChangesintheyearnoncurrentassetsanddisposalgroupsclassifiedasheldforsaleAxis_bbva_RecoveriesfromfinancialleasesMember" unitRef="EUR" decimals="INF">108000000</ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale>
  <ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale id="ID_9455" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CarryingamountaccumulateddepreciationamortisationandimpairmentandgrosscarryingaxisAxis_ifrs-full_CarryingAmountMember_bbva_ChangesintheyearnoncurrentassetsanddisposalgroupsclassifiedasheldforsaleAxis_bbva_ForOwnUseMember" unitRef="EUR" decimals="INF">371000000</ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale>
  <ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale id="ID_9456" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CarryingamountaccumulateddepreciationamortisationandimpairmentandgrosscarryingaxisAxis_ifrs-full_AccumulatedImpairmentMember_bbva_ChangesintheyearnoncurrentassetsanddisposalgroupsclassifiedasheldforsaleAxis_bbva_ForOwnUseMember" unitRef="EUR" decimals="INF">194000000</ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale>
  <ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale id="ID_9457" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CarryingamountaccumulateddepreciationamortisationandimpairmentandgrosscarryingaxisAxis_bbva_NetNonCurrentAssetsAsHeldForSaleMember_bbva_ChangesintheyearnoncurrentassetsanddisposalgroupsclassifiedasheldforsaleAxis_bbva_ForOwnUseMember" unitRef="EUR" decimals="INF">177000000</ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale>
  <ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale id="ID_9458" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CarryingamountaccumulateddepreciationamortisationandimpairmentandgrosscarryingaxisAxis_ifrs-full_CarryingAmountMember_bbva_ChangesintheyearnoncurrentassetsanddisposalgroupsclassifiedasheldforsaleAxis_ifrs-full_OtherAssetsMember" unitRef="EUR" decimals="INF">18623000000</ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale>
  <ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale id="ID_9459" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CarryingamountaccumulateddepreciationamortisationandimpairmentandgrosscarryingaxisAxis_ifrs-full_AccumulatedImpairmentMember_bbva_ChangesintheyearnoncurrentassetsanddisposalgroupsclassifiedasheldforsaleAxis_ifrs-full_OtherAssetsMember" unitRef="EUR" decimals="INF">0</ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale>
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  <ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale id="ID_9461" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CarryingamountaccumulateddepreciationamortisationandimpairmentandgrosscarryingaxisAxis_ifrs-full_CarryingAmountMember_bbva_ChangesintheyearnoncurrentassetsanddisposalgroupsclassifiedasheldforsaleAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">25201000000</ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale>
  <ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale id="ID_9462" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_CarryingamountaccumulateddepreciationamortisationandimpairmentandgrosscarryingaxisAxis_ifrs-full_AccumulatedImpairmentMember_bbva_ChangesintheyearnoncurrentassetsanddisposalgroupsclassifiedasheldforsaleAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">1348000000</ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale>
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  <ifrs-full:ProvisionsForEmployeeBenefits id="ID_9466" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">1425000000</ifrs-full:ProvisionsForEmployeeBenefits>
  <ifrs-full:ProvisionsForEmployeeBenefits id="ID_9467" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_TotalProvisionsForTaxesLegalContingentsAndOtherProvisionsAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">2028000000</ifrs-full:ProvisionsForEmployeeBenefits>
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  <bbva:Numberoftreasuryshares id="ID_9470" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ComponentsofequitytreasurystockaxisAxis_bbva_NumebroftreasurysharesMember" unitRef="shares" decimals="INF">47257691</bbva:Numberoftreasuryshares>
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  <bbva:Transfersfromstage1tostage2notcreditimpaired id="ID_9476" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ReconciliationofchangesinallowanceaccountforcreditlossesoffinancialassetsforthefirstsemesterAxis_bbva_Stage1Member_ifrs-full_ClassesOfFinancialAssetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_ifrs-full_ImpairmentOfFinancialAssetsAxis_ifrs-full_FinancialInstrumentsNotCreditimpairedMember_ifrs-full_TypeOfMeasurementOfExpectedCreditLossesAxis_bbva_LossallowancesMember" unitRef="EUR" decimals="INF">208000000</bbva:Transfersfromstage1tostage2notcreditimpaired>
  <bbva:Transfersfromstage2tostage1notcreditimpaired id="ID_9477" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ReconciliationofchangesinallowanceaccountforcreditlossesoffinancialassetsforthefirstsemesterAxis_bbva_Stage1Member_ifrs-full_ClassesOfFinancialAssetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_ifrs-full_ImpairmentOfFinancialAssetsAxis_ifrs-full_FinancialInstrumentsNotCreditimpairedMember_ifrs-full_TypeOfMeasurementOfExpectedCreditLossesAxis_bbva_LossallowancesMember" unitRef="EUR" decimals="INF">-125000000</bbva:Transfersfromstage2tostage1notcreditimpaired>
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  <bbva:Changeswithouttransfersbetweenstages id="ID_9480" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ReconciliationofchangesinallowanceaccountforcreditlossesoffinancialassetsforthefirstsemesterAxis_bbva_Stage1Member_ifrs-full_ClassesOfFinancialAssetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_ifrs-full_ImpairmentOfFinancialAssetsAxis_ifrs-full_FinancialInstrumentsNotCreditimpairedMember_ifrs-full_TypeOfMeasurementOfExpectedCreditLossesAxis_bbva_LossallowancesMember" unitRef="EUR" decimals="INF">358000000</bbva:Changeswithouttransfersbetweenstages>
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  <bbva:Purchased id="ID_9482" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ReconciliationofchangesinallowanceaccountforcreditlossesoffinancialassetsforthefirstsemesterAxis_bbva_Stage1Member_ifrs-full_ClassesOfFinancialAssetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_ifrs-full_ImpairmentOfFinancialAssetsAxis_ifrs-full_FinancialInstrumentsNotCreditimpairedMember_ifrs-full_TypeOfMeasurementOfExpectedCreditLossesAxis_bbva_LossallowancesMember" unitRef="EUR" decimals="INF">0</bbva:Purchased>
  <bbva:Disposals id="ID_9483" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ReconciliationofchangesinallowanceaccountforcreditlossesoffinancialassetsforthefirstsemesterAxis_bbva_Stage1Member_ifrs-full_ClassesOfFinancialAssetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_ifrs-full_ImpairmentOfFinancialAssetsAxis_ifrs-full_FinancialInstrumentsNotCreditimpairedMember_ifrs-full_TypeOfMeasurementOfExpectedCreditLossesAxis_bbva_LossallowancesMember" unitRef="EUR" decimals="INF">2000000</bbva:Disposals>
  <bbva:Repayments id="ID_9484" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ReconciliationofchangesinallowanceaccountforcreditlossesoffinancialassetsforthefirstsemesterAxis_bbva_Stage1Member_ifrs-full_ClassesOfFinancialAssetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_ifrs-full_ImpairmentOfFinancialAssetsAxis_ifrs-full_FinancialInstrumentsNotCreditimpairedMember_ifrs-full_TypeOfMeasurementOfExpectedCreditLossesAxis_bbva_LossallowancesMember" unitRef="EUR" decimals="INF">641000000</bbva:Repayments>
  <bbva:Writteoffs id="ID_9485" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ReconciliationofchangesinallowanceaccountforcreditlossesoffinancialassetsforthefirstsemesterAxis_bbva_Stage1Member_ifrs-full_ClassesOfFinancialAssetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_ifrs-full_ImpairmentOfFinancialAssetsAxis_ifrs-full_FinancialInstrumentsNotCreditimpairedMember_ifrs-full_TypeOfMeasurementOfExpectedCreditLossesAxis_bbva_LossallowancesMember" unitRef="EUR" decimals="INF">13000000</bbva:Writteoffs>
  <ifrs-full:IncreaseDecreaseThroughChangesInModelsOrRiskParametersFinancialAssets id="ID_9486" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ReconciliationofchangesinallowanceaccountforcreditlossesoffinancialassetsforthefirstsemesterAxis_bbva_Stage1Member_ifrs-full_ClassesOfFinancialAssetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_ifrs-full_ImpairmentOfFinancialAssetsAxis_ifrs-full_FinancialInstrumentsNotCreditimpairedMember_ifrs-full_TypeOfMeasurementOfExpectedCreditLossesAxis_bbva_LossallowancesMember" unitRef="EUR" decimals="INF">0</ifrs-full:IncreaseDecreaseThroughChangesInModelsOrRiskParametersFinancialAssets>
  <ifrs-full:NetForeignExchangeLoss id="ID_9487" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ReconciliationofchangesinallowanceaccountforcreditlossesoffinancialassetsforthefirstsemesterAxis_bbva_Stage1Member_ifrs-full_ClassesOfFinancialAssetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_ifrs-full_ImpairmentOfFinancialAssetsAxis_ifrs-full_FinancialInstrumentsNotCreditimpairedMember_ifrs-full_TypeOfMeasurementOfExpectedCreditLossesAxis_bbva_LossallowancesMember" unitRef="EUR" decimals="INF">-84000000</ifrs-full:NetForeignExchangeLoss>
  <ifrs-full:DecreaseThroughDerecognitionFinancialAssets id="ID_9488" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ReconciliationofchangesinallowanceaccountforcreditlossesoffinancialassetsforthefirstsemesterAxis_bbva_Stage1Member_ifrs-full_ClassesOfFinancialAssetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_ifrs-full_ImpairmentOfFinancialAssetsAxis_ifrs-full_FinancialInstrumentsNotCreditimpairedMember_ifrs-full_TypeOfMeasurementOfExpectedCreditLossesAxis_bbva_LossallowancesMember" unitRef="EUR" decimals="INF">5000000</ifrs-full:DecreaseThroughDerecognitionFinancialAssets>
  <ifrs-full:IncreaseDecreaseThroughOtherMovementsFinancialAssets id="ID_9489" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ReconciliationofchangesinallowanceaccountforcreditlossesoffinancialassetsforthefirstsemesterAxis_bbva_Stage1Member_ifrs-full_ClassesOfFinancialAssetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_ifrs-full_ImpairmentOfFinancialAssetsAxis_ifrs-full_FinancialInstrumentsNotCreditimpairedMember_ifrs-full_TypeOfMeasurementOfExpectedCreditLossesAxis_bbva_LossallowancesMember" unitRef="EUR" decimals="INF">3000000</ifrs-full:IncreaseDecreaseThroughOtherMovementsFinancialAssets>
  <bbva:Otherimpairmentlosses id="ID_9490" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ReconciliationofchangesinallowanceaccountforcreditlossesoffinancialassetsforthefirstsemesterAxis_bbva_Stage1Member_ifrs-full_ClassesOfFinancialAssetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_ifrs-full_ImpairmentOfFinancialAssetsAxis_ifrs-full_FinancialInstrumentsNotCreditimpairedMember_ifrs-full_TypeOfMeasurementOfExpectedCreditLossesAxis_bbva_LossallowancesMember" unitRef="EUR" decimals="INF">135000000</bbva:Otherimpairmentlosses>
  <bbva:Transfersfromstage1tostage2notcreditimpaired id="ID_9491" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ReconciliationofchangesinallowanceaccountforcreditlossesoffinancialassetsforthefirstsemesterAxis_bbva_Stage2Member_ifrs-full_ClassesOfFinancialAssetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_ifrs-full_ImpairmentOfFinancialAssetsAxis_ifrs-full_FinancialInstrumentsNotCreditimpairedMember_ifrs-full_TypeOfMeasurementOfExpectedCreditLossesAxis_bbva_LossalowancescollectivelyassessedMember" unitRef="EUR" decimals="INF">-930000000</bbva:Transfersfromstage1tostage2notcreditimpaired>
  <bbva:Transfersfromstage1tostage2notcreditimpaired id="ID_9492" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ReconciliationofchangesinallowanceaccountforcreditlossesoffinancialassetsforthefirstsemesterAxis_bbva_Stage2Member_ifrs-full_ClassesOfFinancialAssetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_ifrs-full_ImpairmentOfFinancialAssetsAxis_ifrs-full_FinancialInstrumentsNotCreditimpairedMember_ifrs-full_TypeOfMeasurementOfExpectedCreditLossesAxis_bbva_LossalowancesindividualyassessedMember" unitRef="EUR" decimals="INF">-218000000</bbva:Transfersfromstage1tostage2notcreditimpaired>
  <bbva:Transfersfromstage2tostage1notcreditimpaired id="ID_9493" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ReconciliationofchangesinallowanceaccountforcreditlossesoffinancialassetsforthefirstsemesterAxis_bbva_Stage2Member_ifrs-full_ClassesOfFinancialAssetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_ifrs-full_ImpairmentOfFinancialAssetsAxis_ifrs-full_FinancialInstrumentsNotCreditimpairedMember_ifrs-full_TypeOfMeasurementOfExpectedCreditLossesAxis_bbva_LossalowancescollectivelyassessedMember" unitRef="EUR" decimals="INF">619000000</bbva:Transfersfromstage2tostage1notcreditimpaired>
  <bbva:Transfersfromstage2tostage1notcreditimpaired id="ID_9494" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ReconciliationofchangesinallowanceaccountforcreditlossesoffinancialassetsforthefirstsemesterAxis_bbva_Stage2Member_ifrs-full_ClassesOfFinancialAssetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_ifrs-full_ImpairmentOfFinancialAssetsAxis_ifrs-full_FinancialInstrumentsNotCreditimpairedMember_ifrs-full_TypeOfMeasurementOfExpectedCreditLossesAxis_bbva_LossalowancesindividualyassessedMember" unitRef="EUR" decimals="INF">50000000</bbva:Transfersfromstage2tostage1notcreditimpaired>
  <bbva:Transferstostage3 id="ID_9495" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ReconciliationofchangesinallowanceaccountforcreditlossesoffinancialassetsforthefirstsemesterAxis_bbva_Stage2Member_ifrs-full_ClassesOfFinancialAssetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_ifrs-full_ImpairmentOfFinancialAssetsAxis_ifrs-full_FinancialInstrumentsNotCreditimpairedMember_ifrs-full_TypeOfMeasurementOfExpectedCreditLossesAxis_bbva_LossalowancescollectivelyassessedMember" unitRef="EUR" decimals="INF">282000000</bbva:Transferstostage3>
  <bbva:Transferstostage3 id="ID_9496" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ReconciliationofchangesinallowanceaccountforcreditlossesoffinancialassetsforthefirstsemesterAxis_bbva_Stage2Member_ifrs-full_ClassesOfFinancialAssetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_ifrs-full_ImpairmentOfFinancialAssetsAxis_ifrs-full_FinancialInstrumentsNotCreditimpairedMember_ifrs-full_TypeOfMeasurementOfExpectedCreditLossesAxis_bbva_LossalowancesindividualyassessedMember" unitRef="EUR" decimals="INF">564000000</bbva:Transferstostage3>
  <bbva:Transfersfromstage3tostage1or2 id="ID_9497" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ReconciliationofchangesinallowanceaccountforcreditlossesoffinancialassetsforthefirstsemesterAxis_bbva_Stage2Member_ifrs-full_ClassesOfFinancialAssetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_ifrs-full_ImpairmentOfFinancialAssetsAxis_ifrs-full_FinancialInstrumentsNotCreditimpairedMember_ifrs-full_TypeOfMeasurementOfExpectedCreditLossesAxis_bbva_LossalowancescollectivelyassessedMember" unitRef="EUR" decimals="INF">-126000000</bbva:Transfersfromstage3tostage1or2>
  <bbva:Transfersfromstage3tostage1or2 id="ID_9498" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ReconciliationofchangesinallowanceaccountforcreditlossesoffinancialassetsforthefirstsemesterAxis_bbva_Stage2Member_ifrs-full_ClassesOfFinancialAssetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_ifrs-full_ImpairmentOfFinancialAssetsAxis_ifrs-full_FinancialInstrumentsNotCreditimpairedMember_ifrs-full_TypeOfMeasurementOfExpectedCreditLossesAxis_bbva_LossalowancesindividualyassessedMember" unitRef="EUR" decimals="INF">-68000000</bbva:Transfersfromstage3tostage1or2>
  <bbva:Changeswithouttransfersbetweenstages id="ID_9499" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ReconciliationofchangesinallowanceaccountforcreditlossesoffinancialassetsforthefirstsemesterAxis_bbva_Stage2Member_ifrs-full_ClassesOfFinancialAssetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_ifrs-full_ImpairmentOfFinancialAssetsAxis_ifrs-full_FinancialInstrumentsNotCreditimpairedMember_ifrs-full_TypeOfMeasurementOfExpectedCreditLossesAxis_bbva_LossalowancescollectivelyassessedMember" unitRef="EUR" decimals="INF">-53000000</bbva:Changeswithouttransfersbetweenstages>
  <bbva:Changeswithouttransfersbetweenstages id="ID_9500" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ReconciliationofchangesinallowanceaccountforcreditlossesoffinancialassetsforthefirstsemesterAxis_bbva_Stage2Member_ifrs-full_ClassesOfFinancialAssetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_ifrs-full_ImpairmentOfFinancialAssetsAxis_ifrs-full_FinancialInstrumentsNotCreditimpairedMember_ifrs-full_TypeOfMeasurementOfExpectedCreditLossesAxis_bbva_LossalowancesindividualyassessedMember" unitRef="EUR" decimals="INF">-260000000</bbva:Changeswithouttransfersbetweenstages>
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  <ifrs-full:DecreaseThroughDerecognitionFinancialAssets id="ID_9533" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ReconciliationofchangesinallowanceaccountforcreditlossesoffinancialassetsforthefirstsemesterAxis_bbva_Stage3creditimpairedrMember_ifrs-full_ClassesOfFinancialAssetsAxis_ifrs-full_FinancialAssetsAtAmortisedCostMember_ifrs-full_ImpairmentOfFinancialAssetsAxis_ifrs-full_CreditImpairmentOfFinancialInstrumentsMember_ifrs-full_TypeOfMeasurementOfExpectedCreditLossesAxis_bbva_LossallowancesMember" unitRef="EUR" decimals="INF">98000000</ifrs-full:DecreaseThroughDerecognitionFinancialAssets>
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  <ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets id="ID_9698" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_ReconciliationofchangesinallowanceaccountforcreditlossesoffinancialassetsmethodofassessmentofexpectedcreditlossesAxis_bbva_CollctiveallowanceincurredbutnotrecognizedMember_ifrs-full_ClassesOfFinancialInstrumentsAxis_bbva_LoansandreceivablesMember" unitRef="EUR" decimals="INF">-4109000000</ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets>
  <bbva:Disclosureofentityinformationaexplanatory id="ID_9699" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;3.   BBVA Group&lt;/font&gt;&lt;/p&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:8pt;margin-left:0pt;' &gt;The BBVA Group is an international diversified financial group with a significant presence in retail banking, wholesale banking and asset management. The Group also operates in the insurance sector.&lt;/font&gt;&lt;/p&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:8pt;margin-left:0pt;' &gt;The&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; following information is detailed in the appendices of these consolidated financial statements of the Group for the year ended December 31, 2019:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:20.8pt;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:38.8pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Appendix I shows relevant information related to the consolidated subsidiaries and structured entities.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:20.8pt;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:38.8pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Appen&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;dix II shows relevant information related to investments in joint ventures and associates account&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ed for using the equity method.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:20.8pt;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:38.8pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Appendix III shows the main changes and notification of investments and divestments in the BBVA Group.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:20.8pt;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:38.8pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Appendix IV shows fully &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;consolidated subsidiaries with more than 10% owned by non-Group shareholders.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;The following table sets forth information related to the Group&amp;#8217;s total assets as of December 31, 2019, 2018 and 2017, broken down by the Group&amp;#8217;s entities according to their acti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;vity:&lt;/font&gt;&lt;/p&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:513.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:513.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:318.75pt;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:318.75pt;' &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:48.75pt;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:48.75pt;' &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:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:318.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:318.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Banking and other financial services&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;667,319&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;659,414&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:318.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:318.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29,300&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,134&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:318.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:318.75pt;' &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:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,071&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,511&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:318.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:318.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;698,690&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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;/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:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The total assets and results of operations broken down by operating segments are included in Note 6.&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:8pt;margin-left:0pt;color:#000000;' &gt;The BBVA Group&amp;#8217;s activities are mainly located in Spain, Mexico, South America, the United States and Turkey, with active pres&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ence in other countries, as shown below:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Spain&lt;/font&gt;&lt;/span&gt;&lt;/p&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:8pt;margin-left:36pt;' &gt;The Group&amp;#8217;s activity in Spain is mainly carried out through Banco Bilbao Vizcaya Argentaria, S.A. The Group also has other entities that mainly operate in Spain&amp;#8217;s banking sector and insurance sector.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Mexico&lt;/font&gt;&lt;/span&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:8pt;margin-left:36pt;color:#0D0D0D;' &gt;The BBVA Group operates in Mexico, not only in the banking sector, but also in the insurance sector through BBVA Mexico.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;South America&lt;/font&gt;&lt;/span&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:8pt;margin-left:36pt;' &gt;The BBVA Group&amp;#8217;s activities in South America are mainly focused on the banking, financial and insurance sectors, in the f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ollowing countries: Argentina, Colombia, Peru, 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:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:36pt;' &gt;The Group owns more than 50% of most of the entities based in these countries. Appendix I shows a list of the entities which, althou&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;gh less than 50% owned by the BBVA Group as of December 31, 2019, are consolidated (see Note 2.1).&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The United States&lt;/font&gt;&lt;/span&gt;&lt;/p&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:8pt;margin-left:36pt;' &gt;The Group&amp;#8217;s activity in the United States is mainly carried out through a group of entities with BBVA USA Bancshares, Inc. at their head, a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s well as through the New York BBVA, S.A. branch and a representative office in Silicon Valley (California).&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Turkey&lt;/font&gt;&lt;/span&gt;&lt;/p&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:8pt;margin-left:36pt;color:#0D0D0D;' &gt;The Group&amp;#8217;s activity in Turkey is mainly carried out through the Garanti BBVA Group.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Rest of Europe&lt;/font&gt;&lt;/span&gt;&lt;/p&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:8pt;margin-left:36pt;' &gt;The Group&amp;#8217;s activity in Europe is &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;carried out through banks and financial institutions in Switzerland, Italy, Germany, Netherlands, 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;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Asia-Pacific&lt;/font&gt;&lt;/span&gt;&lt;/p&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:8pt;margin-left:35.4pt;' &gt;The Gro&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;up&amp;#8217;s activity in this region is carried out through the Bank branches (in Taipei, Tokyo, Hong Kong, Singapore and Shanghai) and representative offices (in Beijing, Seoul, Mumbai, Abu Dhabi and Jakarta).&lt;/font&gt;&lt;/p&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:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Significant transactions in the Group in 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:8pt;margin-left:0pt;color:#006EC1;' &gt;Divesti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#006EC1;' &gt;tures &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:8pt;margin-left:0pt;color:#009EE5;' &gt;Sale of BBVA&amp;#8217;s stake in BBVA Paraguay&lt;/font&gt;&lt;/p&gt;&lt;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;On August 7, 2019, BBVA reached an agreement with Banco GNB Paraguay, S.A., an affiliate of Grupo Financiero Gilinski, for the sale of its wholly-owned subsidiary Banco Bilbao Vizcaya Argentaria Pa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;raguay, S.A. (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8220;BBVA Paraguay&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:8pt;margin-left:0pt;' &gt;The consideration for the acquisition of BBVA Paraguay&amp;#8217;s shares amounts to approximately $270 million. The above mentioned consideration is subject to regular adjustments for these kind of transactions between the signing and closing &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;dates of the transaction. It is expected that the transaction would result in a capital gain, net of taxes, calculated as of the date of this Annual Report, of approximately &amp;#8364;40 million and in a positive impact on the BBVA Group&amp;#8217;s Common Equity Tier 1 of a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;pproximately 6 basis points. The closing of the transaction is expected during the first quarter of 2020 after obtaining regulatory authorizations &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;from the competent authorities.&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:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Significant 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:8pt;margin-left:0pt;color:#006EC1;' &gt;Divestitures &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:8pt;margin-left:0pt;color:#009EE5;' &gt;Sale of BBVA&amp;#8217;s st&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#009EE5;' &gt;ake 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:8pt;margin-left:0pt;' &gt;On November 28, 2017, BBVA received a 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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.). BBVA owned approximately, directly and indirectly, 68.19% of BBVA Chile share capital. On December 5, 2017, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;BBVA accepted the Offer and entered into a sale and purchase agreement and the sale &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;margin-left:0pt;' &gt;The consideration received in cash by BBVA as consequence of the referred sale amounted to, approximately, USD 2,200 million. The transactio&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n resulted in a capital gain, net of taxes, of &amp;#8364;633 million, which was recognized in 2018.&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:8pt;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:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;On &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;November&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 29, 2017, 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;joint 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;/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:8pt;margin-left:0pt;' &gt;The Bus&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;iness comprises: (i) foreclosed real estate 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 Busi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ness in an autonomous manner. For the purpose of the agreement with Cerberus, the whole Business was valued at approximately &amp;#8364;5,000 million.&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:8pt;margin-left:0pt;' &gt;On October 10, 2018, after obtaining all required authorizations, BBVA completed the transfer of the real estate bu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;siness in Spain. Closing of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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.&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:8pt;margin-left:0pt;' &gt;Divarian is the company to which the BBVA Group has contributed the Business provided&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; that the effective transfer of several real estate assets (REOs) remains subject to the fulfilment of certain conditions precedent. The final price payable by Cerberus will be adjusted depending on &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; volume of REOs effectively contributed.&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:8pt;margin-left:0pt;' &gt;The transacti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;on did not have a significant impact on BBVA Group&amp;#8217;s attributable profit of 2018 or the Common Equity Tier 1 as of December 31, 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:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Significant 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:9pt;margin-left:0pt;color:#006EC1;' &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:8pt;margin-left:0pt;' &gt; On February 21, 2017, BBVA Group entered into an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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. (&amp;#8220;Garanti&amp;#8221;), amounting to 9.95% of the total issued share capital of Garanti Bank. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;On March 22, 2017, the sale and purchase agreement was completed, and therefore BBVA&amp;#180;s total stake in Garanti as of December 31, 2017 amounts to 49.85% (See Note 31).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofentityinformationaexplanatory>
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  <bbva:Loansandadvancesbylevels id="ID_9717" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesbyoperatrionaxisAxis_bbva_Transferstostage3Member_bbva_LoansandadvancesbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">-2698000000</bbva:Loansandadvancesbylevels>
  <bbva:Loansandadvancesbylevels id="ID_9718" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesbyoperatrionaxisAxis_bbva_Transferstostage3Member_bbva_LoansandadvancesbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">4269000000</bbva:Loansandadvancesbylevels>
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  <bbva:Loansandadvancesbylevels id="ID_9720" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesbyoperatrionaxisAxis_bbva_Transfersfromstage3tostage1or2Member_bbva_LoansandadvancesbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">440000000</bbva:Loansandadvancesbylevels>
  <bbva:Loansandadvancesbylevels id="ID_9721" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesbyoperatrionaxisAxis_bbva_Transfersfromstage3tostage1or2Member_bbva_LoansandadvancesbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">1087000000</bbva:Loansandadvancesbylevels>
  <bbva:Loansandadvancesbylevels id="ID_9722" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesbyoperatrionaxisAxis_bbva_Transfersfromstage3tostage1or2Member_bbva_LoansandadvancesbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">-1527000000</bbva:Loansandadvancesbylevels>
  <bbva:Loansandadvancesbylevels id="ID_9723" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesbyoperatrionaxisAxis_bbva_Transfersfromstage3tostage1or2Member_bbva_LoansandadvancesbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesbylevels>
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  <bbva:Loansandadvancesbylevels id="ID_9726" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesbyoperatrionaxisAxis_bbva_NetproductionfinnancialassetsMember_bbva_LoansandadvancesbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">246000000</bbva:Loansandadvancesbylevels>
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  <bbva:Loansandadvancesbylevels id="ID_9729" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesbyoperatrionaxisAxis_bbva_WritteoffsMember_bbva_LoansandadvancesbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">-349000000</bbva:Loansandadvancesbylevels>
  <bbva:Loansandadvancesbylevels id="ID_9730" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesbyoperatrionaxisAxis_bbva_WritteoffsMember_bbva_LoansandadvancesbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">-3407000000</bbva:Loansandadvancesbylevels>
  <bbva:Loansandadvancesbylevels id="ID_9731" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesbyoperatrionaxisAxis_bbva_WritteoffsMember_bbva_LoansandadvancesbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">-3908000000</bbva:Loansandadvancesbylevels>
  <bbva:Loansandadvancesbylevels id="ID_9732" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesbyoperatrionaxisAxis_bbva_IncreasedecreasethroughchangesinmodelsorriskparametersfinancialassetsMember_bbva_LoansandadvancesbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesbylevels>
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  <bbva:Loansandadvancesbylevels id="ID_9734" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesbyoperatrionaxisAxis_bbva_IncreasedecreasethroughchangesinmodelsorriskparametersfinancialassetsMember_bbva_LoansandadvancesbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesbylevels>
  <bbva:Loansandadvancesbylevels id="ID_9735" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesbyoperatrionaxisAxis_bbva_IncreasedecreasethroughchangesinmodelsorriskparametersfinancialassetsMember_bbva_LoansandadvancesbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">0</bbva:Loansandadvancesbylevels>
  <bbva:Loansandadvancesbylevels id="ID_9736" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesbyoperatrionaxisAxis_bbva_NetforeignexchangelossMember_bbva_LoansandadvancesbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">1611000000</bbva:Loansandadvancesbylevels>
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  <bbva:Loansandadvancesbylevels id="ID_9739" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesbyoperatrionaxisAxis_bbva_NetforeignexchangelossMember_bbva_LoansandadvancesbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">1662000000</bbva:Loansandadvancesbylevels>
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  <bbva:Loansandadvancesbylevels id="ID_9741" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesbyoperatrionaxisAxis_bbva_IncreasedecreasethroughothermovementsfinancialassetsMember_bbva_LoansandadvancesbystagesaxisAxis_bbva_Stage2Member" unitRef="EUR" decimals="INF">-27000000</bbva:Loansandadvancesbylevels>
  <bbva:Loansandadvancesbylevels id="ID_9742" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesbyoperatrionaxisAxis_bbva_IncreasedecreasethroughothermovementsfinancialassetsMember_bbva_LoansandadvancesbystagesaxisAxis_bbva_Stage3Member" unitRef="EUR" decimals="INF">15000000</bbva:Loansandadvancesbylevels>
  <bbva:Loansandadvancesbylevels id="ID_9743" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesbyoperatrionaxisAxis_bbva_IncreasedecreasethroughothermovementsfinancialassetsMember_bbva_LoansandadvancesbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">-13000000</bbva:Loansandadvancesbylevels>
  <bbva:Loansandadvancesbylevels id="ID_9744" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesbyoperatrionaxisAxis_bbva_OtherimpairmentlossesMember_bbva_LoansandadvancesbystagesaxisAxis_bbva_Stage1Member" unitRef="EUR" decimals="INF">-1782000000</bbva:Loansandadvancesbylevels>
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  <bbva:Loansandadvancesbylevels id="ID_9751" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_LoansandadvancesbyoperatrionaxisAxis_bbva_LoansandadvancesatamortizedcostattheendMember_bbva_LoansandadvancesbystagesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">412711000000</bbva:Loansandadvancesbylevels>
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  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_9757" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage2Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_TransfersoffinancialassetsMember" unitRef="EUR" decimals="INF">-227000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_9758" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage3Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_TransfersoffinancialassetsMember" unitRef="EUR" decimals="INF">-1574000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_9759" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_TotalMember_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_TransfersoffinancialassetsMember" unitRef="EUR" decimals="INF">-1626000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_9760" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage1Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_Transfersfromstage1tostage2notcreditimpairedMember" unitRef="EUR" decimals="INF">126000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_9761" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage2Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_Transfersfromstage1tostage2notcreditimpairedMember" unitRef="EUR" decimals="INF">-649000000</bbva:Valuecorrectionsloansandadvancesbylevels>
  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_9762" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_Stage3Member_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_Transfersfromstage1tostage2notcreditimpairedMember" unitRef="EUR" decimals="INF">0</bbva:Valuecorrectionsloansandadvancesbylevels>
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  <bbva:Valuecorrectionsloansandadvancesbylevels id="ID_9771" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ValuecorrectionsloansandadvancesatamortizedcostaxisAxis_bbva_TotalMember_bbva_ValuecorrectionsloansandadvancesatamortizedcostbyoperationsaxisAxis_bbva_Transferstostage3Member" unitRef="EUR" decimals="INF">-1487000000</bbva:Valuecorrectionsloansandadvancesbylevels>
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  <ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory id="ID_9898" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;2.   Principles of consolidation, accounting policies and measurement bases applied and recent IFRS pronouncements&lt;/font&gt;&lt;/p&gt;&lt;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;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:8pt;' &gt;subsequent Notes of the accompanying consolidated 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:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.1   Principles of consolidation&lt;/font&gt;&lt;/p&gt;&lt;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;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,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; joint ventures, associates and structured entities, defined as follows:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Subsidiaries&lt;/font&gt;&lt;/span&gt;&lt;/p&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:8pt;margin-left:17.85pt;' &gt;Subsidiaries are entities controlled by the Group (for definition of control, see Glossary). The financial statements of the subsidiaries are fully consolidated with thos&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e of the Bank. The share of non-controlling interests from subsidiaries in the Group&amp;#8217;s 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; loss for the period or year is presented under the heading &amp;#8220;Attributable to minority interest (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:8pt;margin-left:17.85pt;' &gt;Note 3 includes information related to the main subsidiaries in the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; Group as of December 31, 2019. Appendix I includes other significant information on all entities.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Joint ventures&lt;/font&gt;&lt;/span&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:8pt;margin-left:17.85pt;' &gt;Joint ventures are those entities for which there is a joint arrangement to joint control with third parties other than the Group (for definit&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ions 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:8pt;margin-left:17.85pt;' &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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; method as of December 31, 2019. &lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Associates&lt;/font&gt;&lt;/span&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:8pt;margin-left:17.85pt;' &gt;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 m&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ore of the voting rights of an investee directly or indirectly, unless it can be clearly demonstrated that this is not the case.&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:8pt;margin-left:17.85pt;' &gt;However, certain entities in which the Group owns 20% or more of the voting rights are not included as Group associates, since &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8220;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Financial assets at fair value through other comprehensive i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ncome&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8221; o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &amp;#8220;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Non-trading financial assets mandatorily at fair value through profit or loss&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8221;&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:6pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:17.85pt;' &gt;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 conside&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;red to have the ability to exercise significant influence over these entities. As of December 31, 2019&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, 2018 and 2017&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; these entities are not significant to the Group. &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:8pt;margin-left:17.85pt;' &gt;Appendix II shows the most significant information related to the associates (see Note 1&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;6), which are accounted for using the equity method.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Structured Entities&lt;/font&gt;&lt;/span&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:8pt;margin-left:17.85pt;' &gt;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 right&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s 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:8pt;margin-left:17.85pt;' &gt;In those cases where the Group sets up entities or has a holding in such entities, in order to allow its customers access &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;should be subject to consolidation.&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:8pt;margin-left:17.85pt;' &gt;Such methods and procedures determine whether there is control by the Group, considering how the decisions are made about the relevant activities, assess&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ing&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; whether the Group has control over the relevant elements, expos&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ure to variable returns from involvement with the investee and the ability to use control over the investee to affect the amount of the investor&amp;#8217;s returns.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Structured entities subject to consolidation&lt;/font&gt;&lt;/span&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:8pt;margin-left:17.85pt;' &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 the structure and purpose &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;of each investee is performed and, among others, the following factors will be considered:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:36pt;text-align:justify;margin-top:6pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:54pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 on&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ly in particular circumstances).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:36pt;text-align:justify;margin-top:6pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:54pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Potential existence of a special relationship with the investee.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='display:flex;margin-left:36pt;text-align:justify;margin-top:6pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:54pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Implicit or explicit Group commitments to support the investee.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:36pt;text-align:justify;margin-top:6pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:54pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The ability to use the Group&amp;#180;s power over the investee to affect the amount of the Group&amp;#8217;s ret&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;urns.&lt;/font&gt;&lt;/span&gt;&lt;/p&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:8pt;margin-left:18pt;' &gt;This type of entities include&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; cases where the Group has a high exposure to variable returns and retains decision-making power over the investee, eithe&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;r directly or through an agent.&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:8pt;margin-left:18pt;' &gt;The main structured entities of the Group are the asset securitizati&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;on 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 Appendices I and V). &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ubordinated 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 repurchase clauses by the grantor.&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:8pt;margin-left:18pt;' &gt;For these reasons, the loans and receivabl&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e 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&amp;#8217;s &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;consolidated balance sheet.&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:8pt;margin-left:17.85pt;' &gt;For additional information on the accounting treatment for the transfer and derecognition of financial instruments, see Note 2.2.2. &amp;#8220;Transfers and derecognition of financial assets and liabilities&amp;#8221;.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non-consolidated structured e&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ntities&lt;/font&gt;&lt;/span&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:8pt;margin-left:14.2pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &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 IFRS 10 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8211;&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;&amp;#8220;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &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 Con&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;solidated 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:8pt;margin-left:14.2pt;' &gt;As of December 31, 2019,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 2018 and 2017&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; there was no material financial support from the Bank or its subsidiaries to unconsolidated structured entities.&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:8pt;margin-left:14.2pt;' &gt;The Group does not consolidate any of the mutual funds it manages since the necessary control conditions are not met. Particularly, the BBVA G&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &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:8pt;' &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:8pt;margin-left:14.2pt;' &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:8pt;' &gt;dent on a capital structure that could prevent them from carry&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ing&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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.&lt;/font&gt;&lt;/p&gt;&lt;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;In all cases, the operating results of equity method investees acquired by the BBVA Group in a particular period only in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;clude the period from the date of acquisition to the financial statements date. Similarly, the results of entities disposed of during any year only include 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:8pt;margin-left:0pt;' &gt;The consolidated financial statements&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 avai&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lable, 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, 2019, financial statements as of December 31 of all Group entities were utilized &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;except for the case of the consolidated financial statements of 6 associates deemed non-significant for which financial statements as of November 30, 2019 were used for 5 of them and the financial statements as of October 31, 2019 were used for 1 of them.&lt;/font&gt;&lt;/p&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;Accounting policies and valuation criteria 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:8pt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;criteria and comply with the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;IFRS&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;-IASB&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The accounting standards and policie&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s and valuation criteria used in preparing the accompanying Consolidated Financial Statements are as follows:&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.1   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;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:8pt;margin-left:0pt;' &gt;IFRS 9 became effective as of January 1, 2018 and replaced IAS 39 regarding the classification and measurement of fi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nancial assets and liabilities, the impairment of financial assets and hedge accounting. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Currently&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, the Group has elected &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;to continue&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the application of IAS 39 for hedge accounting, as permitted by IFRS 9. The disclosures for the financial year 2017 relate&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d to the measurement of financial assets and liabilities, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;definition of impaired financial assets, and the method for calculating the impairment on financial assets, which are presented for the purpose of comparability, are based on the accounting &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;policies and valuation criteria applicable under IAS 39.&lt;/font&gt;&lt;/p&gt;&lt;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;The main aspects regarding IAS 39, applicable until December 31, 2017, 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:8pt;margin-left:0pt;color:#004580;' &gt;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:8pt;margin-left:0pt;' &gt;IAS 39 established the following three categories for the recognition of fi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nancial assets, not applicable under IFRS 9, valued as follows:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&amp;#8220;Available-for-sale financial assets&amp;#8221;: Assets recognized under this heading were measured at their fair value. Subsequent changes in fair value (gains or losses) were recognized temporarily ne&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;t of tax effect, under the heading &amp;#8220;Accumulated other comprehensive income- Items that may be reclassified to profit or loss -Available-for-sale financial assets&amp;#8221;.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&amp;#8220;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and receivables&amp;#8221; and &amp;#8220;Held-to-maturity investments&amp;#8221;: Assets and liabilities recognized under these headings were subsequently measured at &amp;#8220;amortized cost&amp;#8221; using the &amp;#8220;effective interest rate&amp;#8221; method. This was because the consolidated entities generally intend to hold such fin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ancial instruments to maturity.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity instruments whose fair valu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;e could not be determined in a sufficiently objective manner and financial derivatives that have those&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; instruments as their underlying asset and are settled by delivery of those instruments were recorded at acquisition cost; adjusted, where appropriate, fo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;r any impairment loss.&lt;/font&gt;&lt;/span&gt;&lt;/p&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:8pt;margin-left:0pt;color:#004580;' &gt;Impairment losses on 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:8pt;margin-left:0pt;' &gt;The method for calculating the impairment of financial assets under IAS 39 was based on incurred losses; impairment losses were recognized only if there was objective evidence of impairment. In &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;other words, an event of a loss had to occur after initial recognition, so that the impairment loss could have been recognized.&lt;/font&gt;&lt;/p&gt;&lt;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;First, the Group would determine whether there was objective evidence of impairment individually for individually significant de&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;bt instrument&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, and collectively for debt instrument&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; that were not individually significant. If the Group determined that there was no objective evidence of impairment, the assets were classified in groups of debt instrument&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; based on similar risk charact&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;eristics and impairment was 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:8pt;margin-left:0pt;' &gt;The impairment on financial assets was determined by type of instrument and other circumstances that could have affected it, taking into account the guarantees received to assure (in part or in full) the p&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;erfo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rmance of the 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:8pt;margin-left:0pt;' &gt;The information used under such model was past information, adjusted in order to reflect the effect of the conditions in such reporting period, which did not affect the period matching past information, and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;avoid&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the eff&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ect of the conditions that did not exist. The model did not allow the use of prospective 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:8pt;margin-left:0pt;' &gt;In the case of equity instruments classified as available for sale, valued at fair value, when there was objective evidence that the negative differences &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;that arose on measurement of these equity instruments were due to impairment, they were no longer registered as &amp;#8220;Accumulated other comprehensive income - Items that may be reclassified to profit or loss - Available-for-sale financial assets&amp;#8221; and were recog&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nized in the consolidated income statement. In general, the Group considered that there was objective evidence of impairment on equity instruments classified as available-for-sale when significant unrealized losses had existed over a sustained period of ti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;me due to a price reduction of at least 40% or over a period of more than 18 months. When applying this evidence of impairment, the Group took into account the volatility in the price of each individual equity instrument to determine whether it was a perce&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ntage that could be recovered through its sale in the market; other different thresholds could have existed for certain equity instruments or specific sectors. In addition, for individually significant investments, the Group compared the valuation of the m&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ost 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:8pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Classification and measurement &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt;of financial assets&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:8pt;margin-left:0pt;color:#004580;' &gt;Classification of financial assets&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:8pt;margin-left:0pt;' &gt;IFRS 9 contains three main categories for financial assets classification: &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;measured at amortized cost, measured at fair value with changes through other comprehensive income, and measured at fair value through profit or loss.&lt;/font&gt;&lt;/p&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:8pt;margin-left:0pt;' &gt;The classification of financial assets measured at amortized cost or fair value must be carried out on th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e basis of two tests: the entity&amp;#39;s business model and the assessment of the contractual 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:8pt;margin-left:0pt;color:#000000;' &gt;A debt instrument will be classified in the amortized co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;st portfolio if &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the two following conditions are fulfilled:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The financial asset is managed within a business model whose purpose is to maintain the financial assets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;to maturity, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;to receive &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;contractual&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; cash flows; and&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;In accordance with the contractual &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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&amp;#39;s credit risk.&lt;/font&gt;&lt;/span&gt;&lt;/p&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:8pt;margin-left:0pt;' &gt;A debt instrument will be classified in the portfolio &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;of financial assets at fair value with changes through other comprehensive income if the two following conditions are fulfilled:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The financial asset is managed with a business model whose purpose combines collection of the contractual cash flows and sale o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;f the assets, and&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The contractual characteristics of the instrument generate cash flows which only represent the return of the principal and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;interest&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;.&lt;/font&gt;&lt;/span&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:8pt;margin-left:0pt;' &gt;A debt instrument will be classified at fair value with changes in profit and loss provided that the enti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ty&amp;#39;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.&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:8pt;margin-left:0pt;' &gt;In general, equity instruments will be measured at fair value through profit or loss. Ho&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;wever the Group may make an irrevocable election&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; at initial recognition to present subsequent changes in the fair value through &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8220;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;other comprehensive income&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8221;&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:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Financial assets will only be reclassified when BBVA Group decides to change the business model. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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.&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:8pt;margin-left:0pt;color:#004580;' &gt;Measurement&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt; of financial assets&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:8pt;margin-left:0pt;' &gt;All financial &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;instruments are initial&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ly recognized at fair value, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;plu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; those transaction costs which are directly attributable to the issue of the particular instrument for those cases in which financial assets are not classified at fai&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;r 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:8pt;margin-left:0pt;' &gt;Ex&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;cluding all 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 other income&amp;#8221; or &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8220;Interest expense&amp;#8221;, as appropriate, in the accompanying consolidated income statement in the period in which the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:8pt;margin-left:0pt;' &gt;The changes in fair value after the initial recognition, for reasons other than those mentioned in the preceding&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; paragraph, are treated as described below, according to the categories of financial assets.&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:8pt;margin-left:0pt;color:#004580;' &gt;&amp;#8220;Financial assets 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt;value through profit or loss&amp;#8221;&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:8pt;margin-left:0pt;color:#000000;' &gt;Financial assets are recorded under the heading &amp;#8220;Financial assets held for trading&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. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The financial assets recorded in the heading &amp;#8220;Non-trading financial assets mandatorily at fair value through profit and loss&amp;#8221; are assigned to a business model which objective is to obtain&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; the contractual cash flows and / &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;or to sell those instruments but it&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;s contractual cash flows do not comply with the requirements of the SPPI test. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets are classified in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&amp;#8220;Financial assets designated at fair value through profit or loss&amp;#8221; only if it eliminates or significantly reduces a measuremen&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;t or recognition inconsistency&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; (an &amp;#8216;accounting mismatch&amp;#8217;)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; that would otherwise arise from measuring financial assets or financial liabilities, or recognizing gains or loss&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;es 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:8pt;margin-left:0pt;color:#000000;' &gt;The assets recognized under these headings of the consolidated &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;balance sheet are measured upon acquisition at fair value and changes in the fair value (gains or losses) are recognized as their net value under the headings &amp;#8220;Gains (losses) on financial assets and liabilities held for trading, net&amp;#8221;, &amp;#8220;Gains (losses) on no&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;n-trading financial assets mandatorily at fair value through profit and loss, net&amp;#8221; and &amp;#8220;Gains (losses) on financial assets designated at fair value through profit or loss, net&amp;#8221; in the accompanyi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ng consolidated income statement &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; (see Note 41). &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;C&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;hanges in fa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ir value resulting from variations in foreign exchange rates are recognized under the heading Gains (losses) on financial assets and liabilities, net in the accompanying consolidated income statements (Note 41).&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:8pt;margin-left:0pt;color:#004580;' &gt;&amp;#8221;Financial assets at fair value through othe&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt;r comprehensive income&amp;#8221;&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;instruments&lt;/font&gt;&lt;/span&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:8pt;margin-left:0pt;color:#000000;' &gt;Assets recognized under this heading in the consolidated balance sheets are measured at their fair value.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; This category of valuation implies the recognition of the information in the income statement as if it were an instrument valued at amortized cost, while the instrument is valued at fair value in the balance sheet. Thus, both the interests of these instruments and the exchange differences and impairment that arise in their case are recorded in the profit and loss account, while s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ubsequent changes in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;its &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;fair value (gains or losses) are recognized temporarily&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(by the amount&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; net of tax effect&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; under the head&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ing &amp;#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&amp;#8221; in the consolidated balance sheets (see Note 30).&lt;/font&gt;&lt;/p&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:8pt;margin-left:0pt;color:#000000;' &gt;The amounts &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;recognized under the headings &amp;#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&amp;#8221; continue to form part of the Group&amp;#39;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; consolidated equity until the corresponding asset is derecognized from the consolidated balance sheet or until a loss allowance is recognized on the corresponding financial instrument. If these assets are sold, these amounts are derecognized and included &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;under the headings &amp;#8220;Gains (losses) on financial assets and liabilities, net&amp;#8221; (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:8pt;margin-left:0pt;color:#000000;' &gt;The net &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;loss allowances&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; in &amp;#8220;Financial assets at fair value through other comprehensive income&amp;#8221; over the year are recognized under the heading &amp;#8220;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loss&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; allowances&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; on fi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;nancial assets, net &amp;#8211; Financial assets at fair value through other comprehensive income&amp;#8221; (see Note 47) in the consolidated income statement 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:8pt;margin-left:0pt;color:#000000;' &gt;Interests of th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ese&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; instruments &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;are recorded in the consolidated profit and loss account (see Note 37). &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Changes in foreign exchange rates 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;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;instruments&lt;/font&gt;&lt;/span&gt;&lt;/p&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:8pt;margin-left:0pt;color:#000000;' &gt;The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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 instru&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ment-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 instruments &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;measured at fair value through other comprehensive income&amp;#8221;.&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:8pt;margin-left:0pt;color:#004580;' &gt;&amp;#8220;Financial assets at amortized cost&amp;#8221;&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:8pt;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:8pt;margin-left:0pt;color:#000000;' &gt;Net &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;loss allowances&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; of assets recorded under these headings arising in each 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) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;in the consolidated income statement for that period.&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:8pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Classification and measurement of financial liabilities &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:8pt;margin-left:0pt;color:#004580;' &gt;Classification of financial liabilities&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:8pt;margin-left:0pt;color:#000000;' &gt;Under IFRS 9, financial liabilities are classified in the following categories:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial liabilities at &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;amortized cost;&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial liabilities that are held for trading&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; including derivatives&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; 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;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;al 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; on &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;initial&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; moment of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; recognition&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; a financial liability as at fair value thro&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ugh 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, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;and its performance evaluated, on a fair value basis in accordance with a documented risk management or investment strategy.&lt;/font&gt;&lt;/span&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:8pt;margin-left:0pt;color:#004580;' &gt;Measurement&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt; of financial liabilities&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:8pt;margin-left:0pt;' &gt;All financial instruments are initially recognized at fair value &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;except&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; for those transaction costs which are directly attributable to the issue of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;particular &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;financial liability, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;for those cases in which financial &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;liabilities are not classified at fai&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;r 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:8pt;margin-left:0pt;' &gt;Excluding all trading derivatives not c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;onsidered 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 other income&amp;#8221; or &amp;#8220;Interest expense&amp;#8221;, as approp&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;riate, 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:8pt;margin-left:0pt;' &gt;The changes in fair value after the initial recognition, for reasons other than those mentioned in the preceding paragraph, are treated as de&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;scribed below, according to the categories of financial liabilities.&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:8pt;margin-left:0pt;color:#004580;' &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;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The subsequent changes in the fair value (gains or losses) of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;liabilities recognized under these headings of the consolidated balance sheets are recognized as their net value under the headings &amp;#8220;Gains (losses) on financial assets and liabilities held for trading, net&amp;#8221; and &amp;#8220;Gains (losses) on financial assets and liabi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lities designated at fair value through profit or loss, net&amp;#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 a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;mount of change in the fair value that is attributable to changes in the own credit 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;financial liabilities at fair value through profit or loss attributable to changes in their &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;credit risk&amp;#8221;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;. However, changes in fair value resulting from variations in foreign exchange rates are recognized under the heading Gains (losses) on financial assets&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and liabilities, net in the accompanying consolidated income statements (Note 41).&lt;/font&gt;&lt;/p&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;color:#004580;' &gt;&amp;#8220;Financial liabilities at amortized cost&amp;#8221;&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:8pt;margin-left:0pt;color:#000000;' &gt;The liabilities under this category are subsequently measured at amortized cost, using the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&amp;#8220;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;effective interest rate&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&amp;#8221;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; method.&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:8pt;font-weight:bold;margin-left:0pt;color:#094FA4;' &gt;&amp;#8220;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt;Derivatives-Hedge Accounting&amp;#8221; and &amp;#8220;Fair value changes of the hedged items in portfolio hedges of interest-rate risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&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:8pt;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:8pt;color:#7F7F7F;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;margin-left:0pt;' &gt;Changes &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;In fair value &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;hedges, the changes in the fair value of the derivative and the hedged item attributable to the hedged risk are recogniz&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ed under the heading &amp;#8220;Gains (l&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;osses&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; from hedge accounting, net&amp;#8221; in the consolidated income statement, with a &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;corresponding&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; offset under&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; the headings where hedging items (&amp;quot;Hedging derivatives&amp;quot;) and the hedged items are recognized, as applicable&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;, except for interest-rate risks hedges (which are a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;lmost all of the hedges used by the Group&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;, for&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; which &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;the valuation changes are recognized under&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; 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 (see Note 37).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;In fair value hedges of interest rate risk of a portfolio of financial instruments (portfolio-hedges), the gai&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ns or losses that arise in the measurement of the hedging instrument are recognized in the consolidated income statement, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;with counterpart on the headings &amp;#8220;Derivatives-Hedge Accounting&amp;#8221; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;and the gains or losses that arise from the change in the fair value o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;f the hedged item (attributable to the hedged risk) are also recognized in the consolidated income statement (in both ca&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ses under the heading &amp;#8220;Gains (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;losses&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; from hedge accounting, net&amp;#8221;, using, as a balancing item, the headings &amp;quot;Fair value changes of the h&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;edged items in portfolio hedges of interest rate risk&amp;quot; in the consolidated balance sheets, as applicable).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;In cash flow hedges, the gain or loss on the hedging instruments relating to the effective portion are recognized temporarily under the heading &amp;#8221;Accu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;mulated 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 balancing entry under the heading &amp;#8220;Hedging derivatives&amp;#8221; of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Assets&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; or Liabilities o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;f the consolidated balance sheets as applicable. These differences are recognized &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;under&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;headings &amp;#8220;Interest and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;other income&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&amp;#8221; or &amp;#8220;Interest expense&amp;#8221;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; at the time when the gain or loss in the hedged instrument affects profit or loss, when the forecast tran&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;saction is executed or at the maturity date of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; the hedged item (see Note 37).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Differences in the measurement of the hedging items corresponding to the ineffective portions of cash flow hedges are recognized di&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;rectly &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; the heading &amp;#8220;Gains (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;losses&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; from hedge accounting, net&amp;#8221; in the consolidated income statement (see Note 41).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;In the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;hedges&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; of net investments in foreign operations, the differences attributable to the effective portions of hedging items are recognized temporarily under the heading &amp;quot;A&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ccumulated other comprehensive income - Items that may be reclassified to profit or loss &amp;#8211; Hedging of net investments in foreign transactions&amp;quot; in the consolidated balance sheets with a balancing entry under the heading &amp;#8220;Hedging derivatives&amp;#8221; of the Assets o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;r Liabilities of the consolidated balance sheets as applicable. These differences in valuation are recognized under the heading &amp;#8220;Exchange differences, net&amp;quot; in the consolidated income statement when the investment in a foreign operation is disposed of or de&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;recognized (see Note 41).&lt;/font&gt;&lt;/span&gt;&lt;/p&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:8pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Loss&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt; allowances&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt; on financial assets&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:8pt;margin-left:0pt;color:#004580;' &gt;Definition of impaired 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:8pt;margin-left:0pt;' &gt;The impairment model is applied to financial assets valued at amortized cost and to financial assets valued at fair value with changes in accumulated &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;other comprehensive 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:8pt;' &gt;unilaterally revocable by BBVA. Likewise, all the financial instruments valued at fair value with change through profit and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; loss are excluded from the impairment model&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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).&lt;/font&gt;&lt;/p&gt;&lt;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;The c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;alculation 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 ex&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;pected 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: &lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Expected &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;loss&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; at 12 months: expected credit loss that arises from possible default events within 12 months following the presentation date of the financial statements; and&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Expected &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;loss&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; during the life of the transaction: this is the expected credit loss that arises fr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;om all possible default events over the remaining life of the financial instrument.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;losses, which must be carried out o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n a weighted probability basis.&lt;/font&gt;&lt;/p&gt;&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;The BBVA Group has applied the following definitions:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:14.2pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.45pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Default&lt;/font&gt;&lt;/span&gt;&lt;/p&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:21.3pt;' &gt;BBVA has applied a definition of default for financial instruments that is consistent with that used in internal credit risk ma&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nagement, as well as the indicators under applicable regulation. 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:8pt;margin-left:21.3pt;' &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='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Payment past-due for more than 90 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;days; or&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;there are reasonable doubts regarding the full reimbursement of the instrument.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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:21.3pt;' &gt;In accordance w&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ith 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. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;As of December 31, 201&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;9&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, the Group has not considered &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;periods higher than 90 days for any&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of the significant portfolios.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:14.2pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.45pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Credit impaired asset&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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:21.3pt;' &gt;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.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; Evidence that a financial asset is credit-impaired includes observable data about the following events:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Significant financial difficulty of the issuer or the borrower,&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; breach of contract (e.g. a default or past due event),&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; 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 otherwise consider,&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;I&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;t becoming probable that the borrower will enter bankruptcy or other financial reorganization,&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;T&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;he disappearance of an active market for that financial asset because of financial difficulties, or&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;T&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;he purchase or origination of a financial asset at a deep discount that refl&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ects the incurred credit losses.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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:21.3pt;' &gt;It may not be possi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ble 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:8pt;margin-left:21.3pt;' &gt;The definition of impaired financial assets in the Group is aligned with the definition of default explained in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the above paragraphs.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:14.2pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.45pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Significant increase in credit risk &lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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:28.35pt;' &gt;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 r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ecognition considering all reasonable and supportable information, including&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; that which is 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:8pt;margin-left:28.35pt;' &gt;The model developed by the Group for assessing the significant increase in credit risk has a two-prong approach that is applied globally, although t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he specific characteristics of each geographic area are respected:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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 exp&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ected 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 ar&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;eas and portfolios. Depending on &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;the age of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;transactions&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; at the time &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;implementation of the standard, some simplification&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; were made to compare the probabilities of default between the current and the initial moment, based on the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;best &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;information availab&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;le at that moment.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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 or macroeconomic scenarios, so the quantitative analysis covers the majority of circumstances. The Group will &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;use additional qualitative criteria when it considers it necessary to include circumstances that are not reflected in the rating/score systems o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;r macroeconomic scenarios used.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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:35.45pt;' &gt;Additionally, instruments under one of the following circumstances are considere&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d Stage 2:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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 repr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;esent a significant increase in risk. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;As of December 31, 201&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;, the Group has not considered periods higher than 30 days for any of the significant portfolios.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Watch list: They are subject to special watch by the Risk units because they show negative signs &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;in their credit quality, even though there may be no objective evidence of impairment.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Refinance or restructuring that does not show evidence of impairment.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&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;Although the standard introduces a series of operational simplifications or practical solutions for&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ncreased 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:8pt;margin-left:0pt;' &gt;Thus the classification of financial instruments subject to impairment under IFRS 9 is as follows:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#365F91;' &gt;Stage 1&amp;#8211; without significant increase in credit risk&lt;/font&gt;&lt;/span&gt;&lt;/p&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:21.3pt;' &gt;Financial assets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; derived from defaul&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#365F91;' &gt;Stage 2&amp;#8211; significant increases in credit risk&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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:21.3pt;' &gt;When the credit risk of a fina&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ncial asset has increased significantly sin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ce the initial recognition, the loss allowances&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of that financial instrument is calculated as the expected credit loss during the entire life of the asset.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#365F91;' &gt;Stage 3 &amp;#8211; Impaired&lt;/font&gt;&lt;/span&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:8pt;margin-left:17.85pt;color:#000000;' &gt;When there is objective evidence that&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; 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.&lt;/font&gt;&lt;/p&gt;&lt;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;When the recovery of any r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ecognized 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, the debt is forgiven, or other reasons.&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:8pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Method for calculating e&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt;xpected credit 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:8pt;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:8pt;margin-left:0pt;' &gt;In accordance with IFRS 9, the measurement of expected losses must reflect:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A considered and unbiased amount, determined by evaluat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ing a range of possible results;&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;the time value of money, and&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;reasonable and supportable information that is available without undue cost or effort and that reflects current conditions and forecasts&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; of future economic conditions.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;The Group measures the exp&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ected 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 credit losses is cal&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;culated as the difference between expected discounted cash flows at the effective interest rate of the transaction and the car&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rying 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:8pt;margin-left:0pt;' &gt;For the collective measurement of expected losses the instruments are grouped into groups of asset&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s 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 cont&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ractual 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;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Type of instrument.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rating or scoring tools.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit risk &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;scoring or rating.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Type of collateral.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Amount of t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ime at default for stage 3.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Segment.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Qualitative criteria which can have a significant increase in risk.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Collateral value if it has an impact on the probability of a default event.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;The estimated losses are&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; derived from the following parameters:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;PD: estimate of the probability of default in each period.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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 financ&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ial statements.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;LGD: estimate of the loss in case of default, calculated as the difference between the contractual cash flows and rec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;eivables, including guarantees.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&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;In the case of debt securities, the Group supervises the changes in credit risk through mon&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;itoring 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:8pt;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 also &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;monitor&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s the changes in bond yields, and when they are available, the prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of CDS, together with the news and regulatory inform&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ation 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:8pt;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:8pt;margin-left:0pt;' &gt;IFRS 9 requires incorporation of present, past and future information to detect any significant increase in risk and measure ex&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;pected 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:8pt;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 have to be considered, even though the possibility of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;a loss may be very low. 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:8pt;' &gt;st 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:8pt;margin-left:0pt;' &gt;The approach used by the Group co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nsists 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 the weighted average of expected losses in ot&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;her 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), &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;interest&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; rates, unem&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ployment rate and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;price of real estate properties&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:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.2   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;Transfers and derecognition of financial assets and liabilities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &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:8pt;margin-left:0pt;' &gt;The accounting treatment of transfers of financial assets is determined by the form in which risks and benefits associated with the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 substa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ntially 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 consolidat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ed 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:8pt;margin-left:0pt;' &gt;Similarly, financial liabilities are derecognized from the consolidated balance sheet only if their obligations are extinguished or &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;margin-left:0pt;' &gt;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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of the transferred financial assets. If&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; substantially all the risks and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; benefits associated with the transferred financial asset are retained:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The transferred financial asset is not derecognized from the consolidated balance sheet and continues to be meas&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ured using the same criteria as those used before the transfer.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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 t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;he case.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Both the income generated on the transferred (but not derecognized) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;financial asset and the expense&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; of the new financial liability continue to be recognized.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;color:#004580;' &gt;Treatment of securitizations&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:8pt;margin-left:0pt;' &gt;The securitizations to which the Group entities transfer &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;their credit portfolios are consolidated entities of the Group. For more information, refer to Note 2.1 &amp;#8220;Principles of consolidation&amp;#8221;.&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:8pt;margin-left:0pt;' &gt;The Group considers that the risks and benefits of the securitizations are substantially retained if the subordinated bon&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ds are held and/ or if subordination funding has been granted to those securitization funds&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; which means that the credit loss risk &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;of the securitized assets will be assumed. Consequently, the Group is not derecognizing those transferred loan portfolios.&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:8pt;margin-left:0pt;' &gt;On&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the other hand, the Group has carried out synthetic securitizations, which are transactions where risk is transferred through derivatives or financial guarantees and in which the exposure of these securitizations remains in the balance sheet of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Group&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; The Group has established the synthetic securitizations through received financial guarantees. As for the commissions paid, they are accrued during the term of the financial guarantee&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:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.3   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;Financial guarantees&lt;/font&gt;&lt;/p&gt;&lt;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;Financial guarantees are considered to be&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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; whether original or subsequently modified &amp;#8211;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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='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;In their initial recognition, financial guarantees are recognized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; a corresponding asset&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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.&lt;/font&gt;&lt;/p&gt;&lt;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;Financial guarantees, irrespectiv&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e 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 a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;pplication of criteria similar to those established f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;or quantifying loss allowances&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:8pt;margin-left:0pt;' &gt;The provisions recognized for financial guarantees are recognized under the heading &amp;#8220;Provisions - Provision&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s 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, respectively to &amp;#8220;Provisions or reversal of provision&amp;#8221; in the consolidated &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;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 the rate established in the related contract to the nominal amoun&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t of the guarantee (see Note 40).&lt;/font&gt;&lt;/p&gt;&lt;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;Synthetic securitizations made by the Group to date meet the requirements of the accounting regulations for accounting as guarantees. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Consideration as a financial guarantee means recognition of the commission paid for it o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ver the 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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.4   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;Non-current assets and disposal groups &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;classified as &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;held for sale and liabilities included in disposal groups&lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt; classified as held for sale&lt;/font&gt;&lt;/p&gt;&lt;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;The headings &amp;#8220;Non-current assets and disposal groups &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;classified as &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;held for sale&amp;#8221; and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8220;Liabilities included in disposal groups classified as held for sale&amp;#8221; in the consolidated balance sheet include the carrying amount of assets that are not part of the BBVA Group&amp;#8217;s operating activities. The recovery of this carrying amount is expected to ta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ke 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:8pt;margin-left:0pt;' &gt;These headings include individual items and groups of items (&amp;#8220;disposal groups&amp;#8221;) and disposal groups that form part of a major operating segment and are being held for sale as part of a disp&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;osal plan (&amp;#8220;discontinued operations&amp;#8221;). The heading &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8220;Non-current assets and disposal groups classified as held for sale&amp;#8221;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; include the assets received by the subsidiaries from their debtors, in full or partial settlement of the debtors&amp;#8217; payment obligations (a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ssets 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:8pt;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 sheet reflects the balances payable arising from disposal grou&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &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:8pt;margin-left:0pt;' &gt;Non-current assets and dispos&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;al 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.&lt;/font&gt;&lt;/p&gt;&lt;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;In the case of real es&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tate 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.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s 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 th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ese assets, and in any case, deducting the company&amp;#8217;s estimated sale costs.&lt;/font&gt;&lt;/p&gt;&lt;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;At the time of the initial recognition, these real estate assets foreclosed or received in payment of debts, classified as &amp;#8220;Non-current assets and disposal groups &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;classified as &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;held&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 sale costs and their carrying amount; a deterioration or impairment reversal can be recognized for the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:8pt;margin-left:0pt;' &gt;Non-current assets and disposal groups held for sale groups classified as held for sale are not depreciated while included under the heading &amp;#8220;Non-current assets and disposal groups&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; classified as&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:8pt;margin-left:0pt;' &gt;Fair value of non-&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 frequently, should the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;re 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:8pt;margin-left:0pt;' &gt;Gains and losses generated on the dispos&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;al 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 &amp;#8220;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Gains (losses) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;from &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 remaining income and expense items associated with these assets and liabilities are classi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;fied within the relevant consolidated income statement headings.&lt;/font&gt;&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;Income and expense&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 &amp;#8220;Profit &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;(loss) after tax &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;from discontinued operations&amp;#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.&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.5   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;Tangible assets&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:8pt;margin-left:0pt;color:#004580;' &gt;Property, plant and equipment 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:8pt;margin-left:0pt;' &gt;This heading includes the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;assets under ownership or acquired under lease terms&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; (right to use)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;partial settlement of financial assets representing receivables from third parties &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;which are&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; expected to be held for continuing 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:8pt;margin-left:0pt;' &gt;For more information regarding the accounting treatment of right to use assets under lease terms, see Note 2.2.19 &amp;quot;Leases&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:8pt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;impairment losses&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;resulting from comparing this net carrying amount of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;margin-left:0pt;' &gt;Depreciation is calculated using the straight-line method, during the useful life of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;asset&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, on the basis of the acquisition cost of the assets less their residual value; the land is con&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sidered to have an indefinite life and is therefore not depreciated.&lt;/font&gt;&lt;/p&gt;&lt;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;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the application of the following depreciation rates (determined on the basis of the average years of estimated useful 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:443.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:443.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:255.75pt;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:255.75pt;' &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:187.5pt;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:187.5pt;' &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:255.75pt;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:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Type of assets&lt;/font&gt;&lt;/td&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:center;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Annual Percentage&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:255.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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:187.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:187.5pt;' &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:12pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Furniture&lt;/font&gt;&lt;/td&gt;&lt;td style='width:187.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:187.5pt;' &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:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fixtures&lt;/font&gt;&lt;/td&gt;&lt;td style='width:187.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:187.5pt;' &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:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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:187.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:187.5pt;' &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:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;At each reporting date, the Group entities analyze whether there are internal or exte&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rnal 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&amp;#8217;s net carrying amount with its recoverable amount (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;defined &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;as the higher between &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 asse&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t&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:8pt;margin-left:0pt;' &gt;Similarly, if there is any indication that the value of a previously impaired tangible asset is now recoverable, the consolidated entities will estimate the recoverable amounts of the asset and recognize it in the consolidated in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;come statement, recording the reversal o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;f the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;impairment loss&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;recognized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;it would have if no impairment losses had been recognized in 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:8pt;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 analyses are pe&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rformed for these CGUs to check whether sufficient cash flows 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:8pt;margin-left:0pt;' &gt;Operatin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;g and maintenance expense 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 &amp;quot;Administration costs - Other admin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;istrative expense&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; - Property, fixtures and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;materials&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;quot; (see Note 44.2).&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:8pt;margin-left:0pt;color:#004580;' &gt;Other assets leased out under an operating lease&lt;/font&gt;&lt;/p&gt;&lt;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;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;impairment losses&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;on them, are the same as those described in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;relation to tangible assets for own use.&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:8pt;margin-left:0pt;color:#004580;' &gt;Investment properties&lt;/font&gt;&lt;/p&gt;&lt;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;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:8pt;' &gt;ate, estimated &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;' &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:8pt;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:8pt;' &gt;elation to tangible assets held 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:8pt;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:8pt;' &gt;s&amp;#8217; market at s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;uch&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; date. This fair value will be determined taking as references the valuations performed by independent experts.&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.6   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;Inventories&lt;/font&gt;&lt;/p&gt;&lt;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;The balance under the heading &amp;#8220;Other assets - Inventories&amp;#8221; in the consolidated balance sheets mainly &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;margin-left:0pt;' &gt;The cost of inventories includes those costs incurred in their acquisition &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;margin-left:0pt;' &gt;In the case of the cost of real estate assets accounted for as inventories, the cost is comprised of: the acquisition cost of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:8pt;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 carrying amount or the net &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;realizable&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; val&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ue of the property, 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 (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;net of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;provisions).&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:8pt;margin-left:0pt;color:#004580;' &gt;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:8pt;margin-left:0pt;' &gt;The amount of any subsequent adj&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ustment 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 va&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lue, are recognized under the heading &amp;quot;Impairment or reversal of impairment on non-financial assets&amp;#8221; in the accompanying consolidated income statements for the year in which they are incurred&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; (see Note 48)&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;In the case of the above mentioned real-estate as&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sets, if the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;net &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;realizable&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; value 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 impairment on non-financial assets&amp;quot; in the consolidated income s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tatement 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 appraisals no more than one year old, or less if there are indicatio&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ns of impairment.&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:8pt;margin-left:0pt;color:#004580;' &gt;Inventory sales&lt;/font&gt;&lt;/p&gt;&lt;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;In sale transactions, the carrying amount of inventories is derecognized from the consolidated balance sheet and recognized as an expense under the income statement h&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;eading &amp;quot;Other operating expense&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &amp;#8211; Change in inventories&amp;#8221;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Gains&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; from &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sales of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;non-financial services&amp;#8221; in the consolidated income statements (see Note 42).&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.7   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;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:8pt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8220;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;acquisition method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8221;&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;According to this method, the acquirer has to recognize the ass&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ets 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 allocat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ion 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.&lt;/font&gt;&lt;/p&gt;&lt;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;In a business &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;combination achieved in stages, the acquirer shall measure 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 &amp;#8220;Gains (losses) on derec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ognition 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 in the acquiree in other comprehensive income. If so, th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e 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:8pt;margin-left:0pt;' &gt;In addition, the acquirer shall recognize an asset in the co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nsolidated 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;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;he sum of the consideration transferred, the amount of all the non-controlling interests and the fair value of stock previously hel&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;d in the acquired business; and&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;the net fair value of the assets acquired and liabilities assumed.&lt;/font&gt;&lt;/span&gt;&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;If this difference is negative, it shall be recognized directly in the income statement under the heading &amp;#8220;Negative goodwill recognized in pr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ofit 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:8pt;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 entity. The method of valuing non-controlling interest may &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;be elected in each business combination. BBVA Group has always elected for the second method.&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.8   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;Intangible assets&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:8pt;margin-left:0pt;color:#004580;' &gt;Goodwill&lt;/font&gt;&lt;/p&gt;&lt;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;Goodwill represents a portion of consideration transferred in advance by the acquiring entity for the future economic benefits &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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).&lt;/font&gt;&lt;/p&gt;&lt;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;Goodwill is assigned to one or m&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ore &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;CGU&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; that expect to be the beneficiaries of the synergies derived from the business combinations. The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;CGU&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; represent the Group&amp;#8217;s smallest identifiable asset groups that generate cash flows for the Group and that are largely independent of the flows gen&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;erated 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;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Is the lowest level at which the entity manages goodwill internally.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Is not larger than an operating segment.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;The cash generating&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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.&lt;/font&gt;&lt;/p&gt;&lt;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;For the purpose of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;event they are not valued at fair value, is compar&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ed with its recoverable 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:8pt;margin-left:0pt;' &gt;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 disco&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;unted 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 its calculation are: a sustainable growth rate to extrapolate the cash flows indefi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nitely, 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 e&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;valuated 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:8pt;margin-left:0pt;' &gt;If the carrying amount of the cash-generating unit exceeds the related recoverable amount, the Group recognizes &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; impairment loss&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;; the resulting loss is apportioned by reducing, first, the carrying amount of the goodwill allocated&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; to that unit and, second, if there are still &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;impairment losses&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 subs&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;equent 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:8pt;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 consolidated 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:8pt;margin-left:0pt;color:#004580;' &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:8pt;margin-left:0pt;' &gt;These assets may have&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:8pt;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 those used to depreciate tangible assets. The defined useful life intangible asset i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s made up mainly of IT applications acquisition costs which have a useful life of 3 to 5 years. The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;amortiz&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ation charge of these assets is recognized in the accompanying consolidated income statements under the heading &amp;quot;Depreciation and amortization&amp;quot; (see &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;margin-left:0pt;' &gt;The consolidated entities recognize any impairment losses on the carrying amount of these assets with charge to the heading &amp;#8220;Impairment or reversal of impairment on non - financial assets- Intangible assets&amp;#8221; in the accompanying consolidated incom&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e statements (see Note 48). &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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.&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.9   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;Insurance and reinsurance 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:8pt;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 consolidated balance sheets, and the initial recognition and valuation is carried o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ut according to the criteria set out in IFRS 4.&lt;/font&gt;&lt;/p&gt;&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;The heading &amp;#8220;Insurance and reinsurance assets&amp;#8221; in the accompanying consolidated balance sheets includes the amounts that the consolidated insurance subsidiaries are entitled to receive under the reinsurance c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ontracts 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 subsidiaries.&lt;/font&gt;&lt;/p&gt;&lt;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;The heading &amp;#8220;Liabilities under insurance and reinsurance contracts&amp;#8221; in the acc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ompanying 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).&lt;/font&gt;&lt;/p&gt;&lt;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;The&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; income or expense&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; reported by the BBVA Group&amp;#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.&lt;/font&gt;&lt;/p&gt;&lt;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;The consolidated insurance e&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ntities 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 collect&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ed 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:8pt;margin-left:0pt;' &gt;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.&lt;/font&gt;&lt;/p&gt;&lt;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;According to the t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ype of product, the provisions may be as follows:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Life insurance provisions:&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;/div&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:8pt;margin-left:18pt;' &gt;Represents the value of the net obligations undertaken with the life insurance policyholder. These provisions include:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Provisions for unearned premiums. These are intended for the accrual, at the date of calculation, of the premiums written. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Their&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; balance reflects the portion of the premiums received until the closing date that has to be allocated to the period from year-e&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;nd to the end of the insurance policy period.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mathematical 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 contracted.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non-life insur&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ance provisions:&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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 date that has to be allocat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ed to the period between the year-end and the end of the policy period.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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 sufficient to reflect the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; 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;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Provision for claims:&lt;/font&gt;&lt;/span&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:8pt;margin-left:35.4pt;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:8pt;' &gt;claims incurred prior to ye&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ar-end. Insurance subsidiaries calculate this&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#0D0D0D;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &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 pa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;id in relation to these claims.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Provision for bonuses and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; rebates:&lt;/font&gt;&lt;/span&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:8pt;margin-left:35.4pt;color:#0D0D0D;' &gt;This provision includes the amount of the bonuses &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &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 insured, to the extent that&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; such amounts have not been individually assigned to each of them.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Technical provisions for reinsurance ceded:&lt;/font&gt;&lt;/span&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:8pt;margin-left:35.4pt;color:#0D0D0D;' &gt;Calculated by applying the criteria indicated &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;above for direct insurance, taking account of the assignment conditions established in the open rei&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nsurance contracts.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other technical provisions:&lt;/font&gt;&lt;/span&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:8pt;margin-left:35.4pt;color:#0D0D0D;' &gt;Insurance entities have recognized provisions to cover the probable &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;mismatches in the market reinvestment interest rates with respect to those used in the valuation of the technical 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:8pt;margin-left:0pt;' &gt;The BBVA Group&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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.&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.10   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;Tax 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:8pt;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 when they result from transact&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ions on which the profits or losses are recognized directly in equity, in which case the related tax effec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t 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:8pt;margin-left:0pt;' &gt;The total corporate income tax expense is calculated by aggregating the current tax arising from the application of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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.&lt;/font&gt;&lt;/p&gt;&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;Deferred tax assets&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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;tax value&amp;#8221;), and tax loss and t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ax credit or discount carry forwards. These amounts are registered by applying to each temporary difference the tax rates that are expected to apply when the asset is realized or the liability settled (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:8pt;margin-left:0pt;' &gt;The &amp;quot;Tax Assets&amp;quot; line item in the accomp&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;anying 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 recoverable in the next twelve months) and &amp;quot;Deferred&amp;quot; (which includes the amount of tax to be recovered in future years, i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ncluding those arising from tax losses or credits for deductions or rebates that can be compensated). The &amp;quot;Tax Liabilities&amp;quot; line item in the accompanying consolidated balance sheets includes the amount of all the liabilities of a tax nature, except for pro&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;visions 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 twelve 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:8pt;margin-left:0pt;' &gt;Deferred tax liabilities attribut&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;able 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 tha&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t it will reverse in the future. Deferred tax assets are recognized to the extent that it is probable that the consolidated entities will generate enough taxable profits to make deferred tax assets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;settle&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and do not correspond to those from initial recogni&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tion (except in the case of business combinations), which also does not affect the fiscal outcome.&lt;/font&gt;&lt;/p&gt;&lt;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;The deferred tax assets and liabilities recognized are reassessed by the consolidated entities at each balance sheet date in order to ascertain whether they &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 part&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;icular 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; it is probable or not that a taxation authority will accept an uncertain tax treatment. 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 pai&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d to (recovered from) the taxation 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:8pt;margin-left:0pt;' &gt;The income and expense&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.11   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;Provisions, contingent assets and contingent 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:8pt;margin-left:0pt;' &gt;The heading &amp;#8220;Provisions&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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 forme&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d 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, futur&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e 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:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;They represent a current obligation that has arisen from a past event&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;. 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.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;It is probable that an outflow of resources embodying economic benefits will be required to settle the obligati&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;on.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The amount of the obligation can be reasonably estimated.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;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:8pt;margin-left:0pt;' &gt;Continge&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nt 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 consolid&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ated 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 economi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;c 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:8pt;margin-left:0pt;' &gt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 measur&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ed 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:8pt;margin-left:0pt;' &gt;Contingent li&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;abilities 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 outflo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;w of resources embodying economic benefits&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; is remote&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:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.12   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;Pensions and other post-employment 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:8pt;margin-left:0pt;' &gt;Below we provide a description of the most significant accounting policies relating to post-employment and other employee benefit commitments &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;assumed by BBVA Group entities (see Note 25).&lt;/font&gt;&lt;/p&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:8pt;margin-left:0pt;color:#004580;' &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:8pt;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 salar&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ies, social security char&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ges and other personnel expense&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Costs are charged and recognized under the heading &amp;#8220;Administr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ation costs &amp;#8211; Personnel expense&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &amp;#8211; Other personnel 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:8pt;margin-left:0pt;color:#004580;' &gt;Post-employment benefits&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt; &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:8pt;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:8pt;margin-left:0pt;' &gt;The contributions made to these plan&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s in each year by BBVA Group entities are charged and recognized under the heading &amp;#8220;Administra&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tion costs &amp;#8211; Personnel expense&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8211; Defined-contribution plan expense&amp;#8221; of the consolidated in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;come 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:8pt;margin-left:0pt;color:#004580;' &gt;Post-employment benefits &amp;#8211; Defined-benefi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt;t 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:8pt;margin-left:0pt;' &gt;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 prov&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ided to most active employees. 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:8pt;margin-left:0pt;' &gt;In addition, some of the Spanish entities have offered certain employees the option to retire before their normal retirement age, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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.&lt;/font&gt;&lt;/p&gt;&lt;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;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:8pt;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:8pt;' &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:8pt;' &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:8pt;margin-left:0pt;' &gt;Current service cost is charged and recognized under the heading &amp;#8220;Administration costs &amp;#8211; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Personnel expense&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &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:8pt;margin-left:0pt;' &gt;Interest credits&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;/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:8pt;margin-left:0pt;' &gt;Past service costs arising from benefit plan changes as well as e&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;arly 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:8pt;margin-left:0pt;color:#004580;' &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:8pt;margin-left:0pt;' &gt;In addition to the above commitments, certain Group enti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ties 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;/p&gt;&lt;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;These commitments are quantified based on actuarial valuations and the amoun&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ts 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:8pt;margin-left:0pt;color:#004580;' &gt;Valuation of commitments: actuarial assumptions and 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:8pt;margin-left:0pt;' &gt;The present value of these commitments is determ&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ined 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 additional 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:8pt;margin-left:0pt;' &gt;In establishing the ac&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tuarial assumptions we take into account that:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;They should be unbiased, i.e. neither unduly optimistic nor excessively conservative.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Each assumption does not contradict the others and adequately reflect the existing relationship between economic variables &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; be settled.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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;/span&gt;&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;The BBVA Group recognizes actuarial gains/losses relating to early retirement benefits, long &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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). Actuarial gains/losses relating to pension and medical benefits are direc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tly 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;&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;Actuarial gains or losses on defined benefit pension plans&amp;quot; of equity in the consolidated balance sheet (see Note&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 30).&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.13   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;Equity-settled share-based payment 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:8pt;margin-left:0pt;' &gt;Equity &amp;#8211;settled share-based payment transactions, provided they constitute the delivery of such equity instruments once completion of a specific period of services has occurred, are recognized &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;as an expense for services being provided by employees, by way of a balancing 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 r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;eceived, 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 cond&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;itions 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:8pt;margin-left:0pt;' &gt;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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; number of equity instruments to be issued. This will be recognized on the consolidated income statement with the corresponding increase in total consolidated equity.&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.14   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;Termination 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:8pt;margin-left:0pt;' &gt;Termination benefits are recognized in the financial statem&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ents when the BBVA Group agrees to terminate employment contracts with its employees and h&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;as established a detailed plan.&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.15   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;Treasury &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;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:8pt;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 deri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;vatives on the Bank&amp;#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 &amp;quot;Shareholders&amp;#8217; funds - Treasury stock&amp;quot; in the consolida&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ted 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:8pt;margin-left:0pt;' &gt;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 &amp;#8220;Shareholders&amp;#8217; funds - Retained earnings&amp;#8221; in the consolid&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ated balance sheets (see Note 28).&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.16   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;Foreign-currency transactions and exchange differences&lt;/font&gt;&lt;/p&gt;&lt;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;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and transactions denominated in currencies other than the euro are deemed 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:8pt;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;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Conversion of the foreign currency to th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;e entity&amp;#8217;s functional currency (currency of the main economic environment in which the entity operates); and&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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;/span&gt;&lt;/p&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:8pt;margin-left:0pt;color:#004580;' &gt;Conversion of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt;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:8pt;margin-left:0pt;' &gt;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. Sub&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sequently, 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,&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non-monetary items valued at their historical cost are converted to the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;functional currency at the exchange rate applicable on the purchase date.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Monetary items are converted to the fun&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ctional currency at the closing exchange rate.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Income and expense &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;are converted at the period&amp;#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.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&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;The exchange differences &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;produced when converting the balances in foreign currency to the functional currency of the consolidated entities are generally recognized under the heading &amp;quot;Exchange differences, net&amp;quot; in the consolidated income statements (see Note 41). However, the excha&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nge differences in non-monetary items measured at fair value are recorded to equity under the heading &amp;#8220;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Accumulated other comprehensive &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;income or loss&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;Items not subject to reclassification to income statement&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;Fair value changes of equity instruments mea&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sured at fair value through other comprehensive income&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8221;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; in the consolidated balance sheets (see Note 30).&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:8pt;margin-left:0pt;color:#004580;' &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:8pt;margin-left:0pt;' &gt;The balances in the financial statements of consolidated entities whose functional currency is not the eu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ro are converted to euros as follows:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.45pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.45pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.45pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.45pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Income and expense&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; 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 sign&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ificant variations during the year.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.45pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.45pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity items: at&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; the hi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;storical exchange rates.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;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 &amp;#8220;Accumulated other compr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ehensive income &amp;#8211; Items that may be reclassified 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 ent&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ities accounted for by the equity method are recognized under the heading &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8220;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 re&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;late is derecognized, at which time they are 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:8pt;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 provision&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s of IAS 29 &amp;quot;Financial information in hyperinflationary 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 ac&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;counted 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:8pt;margin-left:0pt;' &gt;The breakdown of the 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:8pt;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:8pt;margin-left:0pt;' &gt;Local financial statements of the Group subsidiaries in Venez&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;uela are expressed in Venezuelan Bolivar, and converted into euros for the consolidated financial statements. Venezuela is a country with strong exchange restrictions &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;that&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; has different rates officially published&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, since December 31, 2015, the Board of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; Directors considers that the use of these 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 Gr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;oup subsidiaries in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;this country&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;. Therefore, since the year ended December 31, 2015, the exchange rate for converting bolivars into euros is an estimation &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;taking into account&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the evolution of the es&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;timated 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:8pt;margin-left:0pt;' &gt;As of December 31, 2019, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2018 and 2017, 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;font style='font-family:Arial;font-size:8pt;' &gt;(see Note 2.2.20)&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:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.17   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;Recognition of income and expense&lt;/font&gt;&lt;/p&gt;&lt;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;The most significant policies used by the BBVA Group to recognize its income and expense are as follows.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:0pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:18pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Interest income and expense and similar items:&lt;/font&gt;&lt;/span&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:8pt;margin-left:35.4pt;color:#0D0D0D;' &gt;As a general rule, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;interest income and expense and similar items are recognized on the basis&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; of their period of accrual using the effective interest ra&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;te method.&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:8pt;margin-left:35.45pt;color:#0D0D0D;' &gt;T&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;hey shall be recognized within the consolidated income statement according to the following criteria, independently from the financial instruments&amp;#8217; portfolio which generates the income &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;or expense:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:35.45pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:53.3pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &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;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:35.45pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:53.3pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The interest income accrued after the initial recognition will form part of the gross carrying amount of the debt instrument until it will be &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;received&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/span&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:8pt;margin-left:35.4pt;' &gt;The financial fees and commissions that arise on the arrangement of loans and advances (basically origin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ation and analysis&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; fees) are deferred and recognized in the income statement over the expected life of the loan. From that amount, the transaction costs identified as directly attributable to the arrangement of the loans and advances will be deducted. Thes&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;e fees are part of the effective interest r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ate 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:8pt;margin-left:35.45pt;' &gt;Once a 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 am&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ount of the asset.&lt;/font&gt;&lt;/p&gt;&lt;p style='line-height:20pt;' /&gt;&lt;div&gt;&lt;p style='display:flex;margin-left:0pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:18pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Income from dividends received:&lt;/font&gt;&lt;/span&gt;&lt;/p&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:35.45pt;color:#0D0D0D;' &gt;Dividends shall be recognized within the consolidated income statement according to the following&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;color:#0D0D0D;' &gt;criteria, independently from the financial instruments&amp;#8217; portfolio which generates this income:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:35.45pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:53.3pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;When the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 div&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;idends are accounted for as financial assets separately from the net equity instrument.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:35.45pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:53.3pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &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 inco&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;me 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 du&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ring the same period.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:0pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:18pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Commissions, fees and similar items:&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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:35.4pt;' &gt;Income and expense&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; relating to commissions and similar fees are recognized in the consolidated income statement using criteria that vary according to the nature of such items. The most significant items in this connection are:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:35.45pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:53.3pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Those&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; relating to financial assets and liabilities measured at fair value through profit or loss, which are recognized when collected/paid.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:35.45pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:53.3pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Those arising f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rom transactions or services that are provided over a period of time, which are recognized over the life o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;f these &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;transactions&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; or services.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:35.45pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:53.3pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Those&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; relating to a singular transaction, which are recognized when this singular transaction is carried out.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:0pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:18pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;N&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;on-financial income and expense&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;:&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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:35.45pt;' &gt;These are recognized for accounting purposes on an accrual basis.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:0pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:18pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deferred col&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;lections and payments:&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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:35.45pt;' &gt;These are recognized for accounting purposes at the amount resulting from discounting the expected cash flows at market rates.&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.18   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;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;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;The heading &amp;#8220;Other &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;operating income&amp;#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 e&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;state and service entities (see Note 42).&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.19   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;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:8pt;margin-left:0pt;' &gt;Effective January 1, 2019, IFRS 16 replaced IAS 17 &amp;#8220;Leases&amp;#8221; (see Note 2.3). The single lessee accounting model requires the lessee to record assets and liabilities for all lease contracts. The stand&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ard provides two exceptions to the recognition of lease assets and liabilities that can be applied in the case of short-term contracts and those in which the underlying assets have low value. BBVA has elected to apply both exceptions. A lessee is required &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;to recognize a right-of-use asset representing its right to use the underlying leased asset, which is recorded under the headings &amp;#8216;&amp;#8216; Tangible assets &amp;#8211; Property plants and equipment&amp;#8217;&amp;#8217; and&amp;#8216;&amp;#8216; Tangible assets &amp;#8211; Investment properties&amp;#8217;&amp;#8217; of the consolidated balan&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ce sheet (see Note 17) and a lease liability representing its obligation to make lease payments which is recorded under the heading &amp;#8216;&amp;#8216; Financial liabilities at amortized cost &amp;#8211; Other financial liabilities&amp;#8217;&amp;#8217; in the consolida&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ted balance sheet (see Note 22.5&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;.&lt;/font&gt;&lt;/p&gt;&lt;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;At the initial date of the lease, the lease liability represents the present value of all lease unpaid payments. The liabilities registered under this heading of the consolidated balance sheets are measured after their initial recognition at amortized co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;st, this being determined in accordance with the &amp;#8220;effective interest rate&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:8pt;margin-left:0pt;' &gt;The right to use assets are initially recorded at cost. This cost consists of the initial measurement of the lease liability, any payment made before the initial date less a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ny lease incentives received, all direct initial expenses incurred, as well as an estimate of the expenses to be incurred by the lessee, such as expenses related to the removal and dismantling of the underlying asset. The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;right to use &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;assets recorded under&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; this heading of the consolidated balance sheets are measured after their initial recognition at cost less:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The accumulated depreciation and accumulated impairment&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Any remeasurement of the lease liability&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;The interest expense&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; on the lease liability &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;is &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;recorded&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; in the consolidated income statements under the heading &amp;#8220;Interest expense&amp;#8221; (see note 37). Variable payments not included in the initial measurement of the lease liability are re&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;corded&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; under the heading &amp;#8220;Administration costs &amp;#8211; Other administrative expense&amp;#8221; (see &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;N&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ote 44).&lt;/font&gt;&lt;/p&gt;&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;Amortization is calculated using the straight-line method over the lifetime of the lease contract, on the basis of the cost of the assets. The tangible asset depreciation charges are recognized in the accompanying consolidated incom&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e 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:8pt;margin-left:0pt;' &gt;In case of electing one of the exceptions in order not to recognize the corresponding right to use and the liability in the consolidated balance sheets, payments related to the c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;orresponding lease are recognized in the consolidated income statements, over the contract period, lineally, or in the way that best represents the structure of the lease operation, under the heading &amp;quot;Other &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;administrative&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; expense&amp;#8221; (see Note 4&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;4&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;.&lt;/font&gt;&lt;/p&gt;&lt;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;Operating &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lease and sublease incomes are recognized in the consolidated income statements under the headings &amp;#8220;Other operating income&amp;#8221; (see Note 42&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;As a lessor, 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:8pt;' &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:8pt;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:8pt;' &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:8pt;' &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:8pt;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:8pt;' &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:8pt;' &gt; statements on a straight-line basis within &amp;#8220;Other operating income&amp;#8221; and &amp;quot;Other operating expense&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:8pt;margin-left:0pt;' &gt;If a fair value sale and leaseback results in a lease, the profit or loss generated from the effectively transferred part of the sale is recog&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nized in the consolidated income statement at the time of sale (only for t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he effective transmitted part).&lt;/font&gt;&lt;/p&gt;&lt;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;The assets leased out under operating lease contracts to other entities in the Group are treated in the Consolidated Financial Statements as for own u&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;se, 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:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.20   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;Entities and branches located in countries with hyperinflationary economies&lt;/font&gt;&lt;/p&gt;&lt;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;In accordance with the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;IFRS&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;-IASB&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 or savings in non-monetary a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ssets 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;margin-left:0pt;color:#004580;' &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:8pt;margin-left:0pt;' &gt;Since 2018, the economy of Argentina has been considered hyperinflat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ionary under the above criteria. As a result, the financial statements of the BBVA Group&amp;#8217;s entities located in Argentina have therefore been adjusted to correct for the effects of inflation in accordance with IAS 29 &amp;#8220;Financial reporting in hyperinflationar&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;y economies&amp;#8220;. &lt;/font&gt;&lt;/p&gt;&lt;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;During 2019&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, the increase in the reserves of Group entities located in Argentina derived from the re-expression for hyperinflation (IAS 29) amounts to &amp;#8364;470 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and &amp;#8364;703&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; respectively,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of which &amp;#8364;313&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and &amp;#8364;463&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, respectively,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; have been recorded within &amp;#8220;Shareholders&amp;#8217; funds - Retained earnings&amp;#8221; and &amp;#8364;157&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and &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;240&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;million&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, respectively,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; within &amp;#8220;Minority interests &amp;#8211; Other&amp;#8221;. Furthermore, during 201&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;9 and 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the decrease in the reserves of Group entities located in Argentina derive&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d from the co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nversion (IAS 21) amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;460&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and &amp;#8364;773 million, respectively, of which &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;305&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and &amp;#8364;515 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;million&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, respectively,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; have been recorded within &amp;#8220;Shareholders&amp;#8217; funds - Retained earnings&amp;#8221;, and &amp;#8364;155&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and &amp;#8364;258&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, respectively,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; within &amp;#8220;Minority int&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;erests &amp;#8211; Other&amp;#8221;. The net impact of both effects is presented under the caption &amp;#8220;Other increases or (-) decreases in equity&amp;#8221; in the consolidated Statement of Changes in Equity for the years ended December 31, 2019 and 2018. The net loss in the profit attrib&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;utable to the parent company of the Group in 2019 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and 2018 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;derived from the application of IAS 29 amounted to &amp;#8364;190&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and &amp;#8364;209&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, respectively&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;. In addition, there is a net loss in the profit attributable to the parent company of the Group in 2019 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and 2018 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;derived from the application of IAS 21 which amounted to &amp;#8364;34&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and &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;57 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;million&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, respectively&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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, 2019 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and 2018 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;for the inflation restatement of the financial &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;statements of the Group companies located in Argentina 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='3' 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:#02A5A5;' &gt;General Price Index &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:322.5pt;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:322.5pt;' &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:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:322.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:322.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;GPI&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;184&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:322.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:322.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Average GPI&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;233&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;152&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:322.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:322.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Inflation of the period&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;55%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:8pt;margin-left:0pt;color:#004580;' &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:8pt;margin-left:0pt;' &gt;Since 2009, the economy of Venezuela has been considered hyperinflationary under the above criteria. As a result, the financial statements of the BBVA &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Group&amp;#8217;s entities located in Venezuela have therefore been adjusted to correct for the effects of inflation in accordance with IAS 29 &amp;#8220;Financial reporting in hyperinflationary economies&amp;#8220;.&lt;/font&gt;&lt;/p&gt;&lt;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;The losses recognized under the heading &amp;#8220;Profit attributable to the p&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;arent 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 Venezuela amounted to &amp;#8364;8, &amp;#8364;12 and &amp;#8364;13 million in 2019, 2018 and 2017, respectively (see Note 2.2.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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: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:#004580;' &gt;2.3   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;Recent IFRS pronouncements&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Standards and interpretations that became effective in 2019&lt;/font&gt;&lt;/p&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:8pt;margin-left:0pt;' &gt;The following amendments to the IFRS standards or their interpretations (hereinafter &amp;#8220;IF&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;RIC&amp;#8221;) became effective in 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:8pt;margin-left:0pt;color:#004580;' &gt;IFRS &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt;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:8pt;margin-left:0pt;' &gt;Effective January 1, 2019, IFRS 16 replaced IAS 17 &amp;#8220;Leases&amp;#8221;. The new standard introduces a single lessee accounting model and requires a lessee to recognize assets and liabilities for all leases. The standard provides two exceptions to the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;recognition of lease assets and liabilities that can be applied in the case of short-term contracts and those in which the underlying assets have low value. BBVA has elected to apply both exceptions. A lessee is required to recognize a right-of-use asset r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;epresenting its right to use the underlying leased asset, which is recorded under the headings &amp;#8220;Tangible assets &amp;#8211; Property plants and equipment&amp;#8221; or &amp;#8220;Tangible assets &amp;#8211; Investment properties&amp;#8221; of the consolidated balance sheet (see Note 17) and a lease liabil&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ity representing its obligation to make lease payments which is recorded under the heading &amp;#8220;Financial liabilities at amortized cost &amp;#8211; Other financial liabilities&amp;#8221; in the consolidated balance sheet (see Note 2&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;5). In the consolidated income statement, the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;amortization of the right to use assets is recorded in the heading &amp;#8220;Depreciation and amortization &amp;#8211; tangible asset&amp;#8221; (see Note 45) and the financial cost associated with the lease liability is recorded in the heading &amp;#8220;Interest expense&amp;#8221; (see Note 37.2).&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:8pt;margin-left:0pt;' &gt;With&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 to account for those two types of leases&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:8pt;margin-left:0pt;' &gt;At the transition date, the Group decided to apply the modified retrospective approach which requires recognition of a lease liability equal to the present value of the future payments committed to as of January 1, 2019. Regarding the measure&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ment of the right-of-use asset, the Group elected to record an amount equal to the lease liability, adjusted for the amount of any advance or accrued lease payment related to that lease recognized in the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;balance sheet&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; before the date of initial applica&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tion&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The Group&amp;#180;s lease liabilities, as a consequence of the first application of IFRS 16, correspond to the present value &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the future lease payments obligations during the lease term (see Note 22.5). This liability on January 1, 2019 does not match with the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; future minimum payments for operating leases which had been disclosed in Note 35 of the consolidated financial statements for the year 2018 and which were calculated under the previous standard IAS 17. The difference is mainly the result of the discount r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ate used to determine the present value of the future lease payments as well as the lease term which incl&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;udes the options to extend and/&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;or early terminate, provided that it is reasonably&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; certain that this option will/&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;will not be exercised. The discount rat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e used in Spain, the geography which represents the biggest part of the IFRS 16 impact was 1,67% at the moment of the first application.&lt;/font&gt;&lt;/p&gt;&lt;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;As of January 1, 2019, the Group recognized assets for the right-of-use and lease liabilities for an amount of &amp;#8364;3,419 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and &amp;#8364;3,472 million, respectively. The impact in terms of capital (CET1) of the Group amounted to -11 basis points.&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:8pt;margin-left:0pt;color:#004580;' &gt;IFRIC 23 &amp;#8211; &amp;#8220;Uncertainty over income tax treatments&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:8pt;margin-left:0pt;color:#000000;' &gt;IFRIC 23 provides guidance on how to apply the recognition and measurement requirements i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;n IAS 12 when there is 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:8pt;margin-left:0pt;color:#000000;' &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), ta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;x 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.&lt;/font&gt;&lt;/p&gt;&lt;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;color:#000000;' &gt;If the entity considers that it is not probable that the taxation authority will accept an uncertain tax t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;reatment, 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 ta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;x 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.&lt;/font&gt;&lt;/p&gt;&lt;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;color:#000000;' &gt;The implementation of this standard as of January 1, 2019 has not had a significant impact on the G&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;roup&amp;#8217;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:8pt;margin-left:0pt;color:#004580;' &gt;Amended IAS 28 &amp;#8211; &amp;#8220;Long-term Interests in associates and joint ventures&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:8pt;margin-left:0pt;' &gt;The amendments &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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 s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ubstance, form part of the net investment in the associate or joint venture but 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:8pt;margin-left:0pt;color:#000000;' &gt;The implementation of this standard as of January 1, 2019 has not had a significant impact on the Group&amp;#8217;s consolidated financial stat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ements.&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:8pt;margin-left:0pt;color:#004580;' &gt;Annual improvements cycle to IFRSs 2015-2017&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:8pt;margin-left:0pt;' &gt;The annual improvements cycle to IFRSs 2015-2017 includes minor changes and clarifications to IFRS 3- &amp;#8220;Business Combinations&amp;#8221;, IFRS 11 &amp;#8211; &amp;#8220;Joint Arrangements&amp;#8221;, IAS 12 &amp;#8211; &amp;#8220;Income Taxes&amp;#8221; and IAS 23 &amp;#8211; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8220;Borrowing Costs&amp;#8221;. The implementation of these standards as of January 1, 2019 has not had a significant impact on the Group&amp;#8217;s 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:8pt;margin-left:0pt;' &gt;Additionally, this project has introduced an amendment to IAS 12 that became effective on Janu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ary 1, 2019 and meant that the tax impact of the distribution of generated benefits must be recorded in the &amp;quot;Tax expense or income related to profit or loss from continuing operations&amp;quot; line of the consolidated income statement for the year. The amount deri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ved from this amendment to IAS 12 resulted in a credit of &amp;#8364;91 million in the consolidated income statement for the year 2019 (see Note 1.3).&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:8pt;margin-left:0pt;color:#004580;' &gt;Amended IAS 19 &amp;#8211; &amp;#8220;Plan Amendment, Curtailment or Settlement&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:8pt;margin-left:0pt;color:#000000;' &gt;The minor amendments in IAS 19 concern the cases if an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; employee benefit 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 r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;emeasurement. In addition, amendments have been included to clarify the effect of a plan amendment, curtailment or settlement on the requirements regarding 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:8pt;margin-left:0pt;color:#000000;' &gt;The implementation of this standard as of January 1, 2019 has not had a significa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;nt impact on the Group&amp;#180;s consolidated financial 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:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Standards and interpretations issued but not yet effective as of December 31, 2019&lt;/font&gt;&lt;/p&gt;&lt;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;The following new International Financial Reporting Standards together with their Interpretations had been &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;published at the date of preparation of the accompanying consolidated financial statements, but are not mandatory as of December 31, 2019. Although in some cases the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;International Accounting Standards Board (&amp;#8220;IASB&amp;#8221;) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;allows early adoption before their effec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tive 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:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;color:#004580;' &gt;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:8pt;margin-left:0pt;' &gt;The amendments &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;material is the following: &amp;#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, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;This Standard will be applied to the accounting years start&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ing on or after January 1, 2020. No significant impact on the consolidated financial statements is expected.&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:8pt;margin-left:0pt;color:#004580;' &gt;IFRS 3 &amp;#8211; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt;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:8pt;margin-left:0pt;' &gt;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 tw&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;o following conditions are fulfilled:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:12pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;the fair value of the acquired assets is not concentrated in one single asset or group of similar assets.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:12pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;the entirety of acquired activities and assets includes, as a minimum, an input and a substantial process which,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; together, contribute to the capacity to create products.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;This Standard will be applied to the accounting years starting on or after January 1, 2020.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; No significant impact on the consolidated financial statements is expected.&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:8pt;margin-left:0pt;color:#004580;' &gt;Amendments to IFRS 9, IAS 39 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt;and IFRS 7- IBOR Reform&lt;/font&gt;&lt;/p&gt;&lt;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;The IBOR Reform (Phase 1) refers to the amendments to IFRS 9, IAS 39 and IFRS 7 issued by the IASB to prevent some hedge accounting from having to be discontinued in the period before the reform of the intere&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;st rate references takes&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; place.&lt;/font&gt;&lt;/p&gt;&lt;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;In some cases and / or jurisdictions, there may be uncertainty about the future of some interest rate references or their impact on the contracts held by the entity, which directly causes uncertainty about the timing or amounts of the cash flows of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the hedged instrument or hedging instrument. Due to such uncertainties, some entities may be forced to discontinue their hedge accounting, or not be able to designate new hedging relationships.&lt;/font&gt;&lt;/p&gt;&lt;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;For this reason, the amendments include several reliefs that &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;apply to all hedging relationships that are affected by the uncertainty arising from the IBOR reform; A hedging relationship is affected by the reform if it generates uncertainty about the timing or amount of the cash flows of the hedged instrument or that&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of a hedging instrument referenced to the part&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;icular interest rate benchmark.&lt;/font&gt;&lt;/p&gt;&lt;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;Since the purpose of the modification is to provide some relief to the application of certain specific requirements of hedge accounting, these exceptions must end once the uncer&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tainty will be resolved or the hedging relationship ceases to exist.&lt;/font&gt;&lt;/p&gt;&lt;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;The modifications will be applicable to the accounting years beginning on or after January 1, 2020 although early application is allowed.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; The Group has not applied these modifications in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;advance as of December 31, 2019 because it considers that the existing uncertainty does not affect its hedging relationships to the point that some had to be discontinued. Since 2020, they are not expected to have a significant impact on the consolidated f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;inancial statements of the Group.&lt;/font&gt;&lt;/p&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:8pt;margin-left:0pt;color:#004580;' &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:8pt;margin-left:0pt;' &gt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;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;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:12pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;the fulfilment cash flows, that comprises the estimate of future cash flows, an adju&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;stment 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;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;the contractual service margin that &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;represents the unearned profit.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;The amounts recognized in the conso&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lidated 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 b&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e 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;/p&gt;&lt;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;This Standard will be applied to the accounting years starting on or after January 1, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2022. During 2019, the Group has established an IFRS 17 implementation project with the objective of harmonizing the criteria in the Group and with the participation of all the affected areas.&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory>
  <bbva:Expectedshortfall id="ID_9899" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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:453.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:453.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Impact of the stress test  (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33.75pt;' &gt;&lt;td style='width:87.75pt;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:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Europe&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Peru&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Venezuela&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Argentina&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Colombia&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:87.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:87.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(112)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(68)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(23)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Expectedshortfall>
  <bbva:Netstablefinancerationsfr id="ID_9900" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:9pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:348.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:348.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;NSFR main LMU&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:87.75pt;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:87.75pt;' &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:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;December 2019&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:87.75pt;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:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Group &lt;/font&gt;&lt;/td&gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;120%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:87.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;BBVA Eurozone&lt;/font&gt;&lt;/td&gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;113%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:87.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;BBVA Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:261pt;text-align:center;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;130%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:87.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;BBVA USA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:261pt;text-align:center;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;116%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:87.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Garanti BBVA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:261pt;text-align:center;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;151%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Netstablefinancerationsfr>
  <bbva:Correctionsloansandadvancesatamortizedcost id="ID_9901" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:7pt;color:#02A5A5;' &gt;Changes in gross accounting balances of loans and advances at amortized cost. December 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:29.25pt;' &gt;&lt;td style='width:150.75pt;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:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Opening balance&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;352,282&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;30,707&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;16,359&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;399,347&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Transfers of financial assets:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(9,021)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6,279&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,741&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:150.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Transfers from stage 1 to Stage 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(13,546)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13,546&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:150.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Transfers from stage 2 to Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,656&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5,656)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:150.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Transfers to Stage 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,571)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2,698)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:150.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Transfers from Stage 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;440&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,087&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,527)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:150.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Net annual origination of financial assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;20,296&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2,739)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;246&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17,804&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Becoming&amp;#160;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#181818;' &gt;write-&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#0C0C0C;' &gt;offs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(152)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(349)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3,407)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3,908)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Foreign exchange&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,611&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,662&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:150.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Modifications that do not result in derecognition&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(27)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,782)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(388)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2,180)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Closing balance&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;363,234&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;33,518&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;15,959&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;412,711&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Correctionsloansandadvancesatamortizedcost>
  <bbva:Financialguaranteereceived id="ID_9902" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:389.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:389.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Guarantees received (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;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:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;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:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Value of collateral&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;152,454 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;158,268 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: guarantees normal risks under special monitoring&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;14,623 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;14,087 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: guarantees non-performing risks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;4,590 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;5,068 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;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:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Value of other guarantees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;35,464 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;16,897 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: guarantees normal risks under special monitoring&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;3,306 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;1,519 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: guarantees non-performing risks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;542 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;502 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total value of guarantees received&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;187,918 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;175,165 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Financialguaranteereceived>
  <bbva:Creditriskexposurebystagesandgeographiclocation id="ID_9903" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='13' rowspan='1' style='width:907.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:907.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;December 2019&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:124.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:124.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Gross exposure&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Accumulated allowances&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Carrying amount&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:124.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:124.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#072146;' &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:center;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:center;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 1&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:center;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 2&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:center;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 3&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:center;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:center;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 1&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:center;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 2&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:center;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 3&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:center;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:center;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 1&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:center;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 2&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:center;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:124.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:124.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Spain (*)&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:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;197,058&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:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;173,843&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:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14,599&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:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8,616&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:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5,311)&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:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(712)&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:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(661)&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:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3,939)&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:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;191,747&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:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;173,131&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:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13,939&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:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,677&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:124.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:124.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;The United States&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:7pt;color:#000000;' &gt;57,387&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:7pt;color:#000000;' &gt;49,744&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:7pt;color:#000000;' &gt;7,011&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:7pt;color:#000000;' &gt;632&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:7pt;color:#000000;' &gt;(688)&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:7pt;color:#000000;' &gt;(165)&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:7pt;color:#000000;' &gt;(342)&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:7pt;color:#000000;' &gt;(182)&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:7pt;color:#000000;' &gt;56,699&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:7pt;color:#000000;' &gt;49,580&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:7pt;color:#000000;' &gt;6,670&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:7pt;color:#000000;' &gt;450&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:124.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:124.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Mexico&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:7pt;color:#000000;' &gt;60,099&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:7pt;color:#000000;' &gt;54,748&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:7pt;color:#000000;' &gt;3,873&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:7pt;color:#000000;' &gt;1,478&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:7pt;color:#000000;' &gt;(2,013)&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:7pt;color:#000000;' &gt;(697)&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:7pt;color:#000000;' &gt;(404)&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:7pt;color:#000000;' &gt;(912)&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:7pt;color:#000000;' &gt;58,087&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:7pt;color:#000000;' &gt;54,052&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:7pt;color:#000000;' &gt;3,469&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:7pt;color:#000000;' &gt;566&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:124.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:124.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Turkey (**)&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:7pt;color:#000000;' &gt;43,113&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:7pt;color:#000000;' &gt;34,536&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:7pt;color:#000000;' &gt;5,127&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:7pt;color:#000000;' &gt;3,451&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:7pt;color:#000000;' &gt;(2,613)&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:7pt;color:#000000;' &gt;(189)&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:7pt;color:#000000;' &gt;(450)&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:7pt;color:#000000;' &gt;(1,974)&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:7pt;color:#000000;' &gt;40,500&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:7pt;color:#000000;' &gt;34,347&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:7pt;color:#000000;' &gt;4,677&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:7pt;color:#000000;' &gt;1,477&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:124.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:124.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;South America (***)&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:7pt;color:#000000;' &gt;36,265&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:7pt;color:#000000;' &gt;31,754&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:7pt;color:#000000;' &gt;2,742&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:7pt;color:#000000;' &gt;1,769&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:7pt;color:#000000;' &gt;(1,769)&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:7pt;color:#000000;' &gt;(366)&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:7pt;color:#000000;' &gt;(323)&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:7pt;color:#000000;' &gt;(1,079)&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:7pt;color:#000000;' &gt;34,497&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:7pt;color:#000000;' &gt;31,388&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:7pt;color:#000000;' &gt;2,419&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:7pt;color:#000000;' &gt;690&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:124.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:124.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Others &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:7pt;color:#000000;' &gt;839&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:7pt;color:#000000;' &gt;824&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:7pt;color:#000000;' &gt;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:7pt;color:#000000;' &gt;9&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:7pt;color:#000000;' &gt;(8)&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:7pt;color:#000000;' &gt;(1)&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:7pt;color:#000000;' &gt;(1)&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:7pt;color:#000000;' &gt;(6)&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:7pt;color:#000000;' &gt;832&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:7pt;color:#000000;' &gt;823&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:7pt;color:#000000;' &gt;6&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:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:124.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:124.5pt;' &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: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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;394,763&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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;345,449&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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;33,360&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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;15,954&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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(12,402)&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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(2,129)&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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(2,181)&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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(8,093)&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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;382,360&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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;343,320&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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;31,179&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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;7,861&lt;/font&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='13' rowspan='1' style='width:663.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:663.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;December 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:87.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:192pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:192pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Gross exposure&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:192pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:192pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Accumulated allowances&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:192pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:192pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Carrying amount&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:87.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:87.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Spain (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;195,447&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;172,599&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12,827&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10,021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5,874)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(713)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(877)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(4,284)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;189,574&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;171,886&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11,951&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,737&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:87.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;57,321&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;50,665&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,923&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;733&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(658)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(206)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(299)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(153)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;56,663&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;50,459&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,624&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;580&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:87.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;52,858&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;48,354&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,366&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,138&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,750)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(640)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(373)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(737)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;51,107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;47,714&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,992&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;401&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:87.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Turkey (**)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;43,718&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;34,883&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6,113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,722&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2,241)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(171)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(591)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,479)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;41,479&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;34,712&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,523&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,244&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:87.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;South America (***)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;36,098&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;31,947&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,436&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,715&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,656)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(338)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(234)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,084)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;34,442&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;31,609&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,202&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;631&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:87.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Others &lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;783&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;756&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;763&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;755&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:12.75pt;' &gt;&lt;td style='width:87.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:87.75pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;386,225&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;339,204&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;30,673&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;16,348&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(12,199)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(2,070)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(2,374)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(7,755)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;374,027&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;337,134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;28,299&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;8,593&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Creditriskexposurebystagesandgeographiclocation>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9904" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_LoansandadvancesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Present-value method
(Discounted future cash flows)</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <bbva:Mainobservableinputs id="ID_9905" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_LoansandadvancesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Issuer&#180;s credit risk
- Current market interest rates
- Funding interest rates observed in the market or in consensus services
- Exchange rates</bbva:Mainobservableinputs>
  <bbva:Mainunobservableinputs id="ID_9906" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_LoansandadvancesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Prepayment rates
- Issuer&#180;s credit risk
- Recovery rates
- Funding interest rates not observed in the market or in consensus services</bbva:Mainunobservableinputs>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9907" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Present-value method
(Discounted future cash flows)
Observed prices in non active markets</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <bbva:Mainobservableinputs id="ID_9908" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Issuer&#180;s credit risk
- Current market interest rates
- Non active markets prices</bbva:Mainobservableinputs>
  <bbva:Mainunobservableinputs id="ID_9909" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Prepayment rates
- Issuer&#180;s credit risk
- Recovery rates</bbva:Mainunobservableinputs>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9910" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Comparable pricing (Observable price in a similar market)
Present-value method</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <bbva:Mainobservableinputs id="ID_9911" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Brokers quotes
- Market operations
- NAVs published</bbva:Mainobservableinputs>
  <bbva:Mainunobservableinputs id="ID_9912" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- NAV not published</bbva:Mainunobservableinputs>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9913" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_EquityhedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Future and Equity Forward: Discounted future cash flows
Equity Options: Local Volatility, Momentum adjustment</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9914" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Future and Equity Forward: Discounted future cash flows
Foreign exchange Options: Local volatility, moments adjustment</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9915" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_CredithedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Credit Derivatives: Default model and Gaussian copula</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9916" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_CommoditieshedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Commodities: Momentum adjustment and discounted cash flows</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9917" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_InterestratehedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Interest rate products (Interest rate Swaps, Call money Swaps y FRA): Discounted cash flows
Caps/Floors: Black, Hull-White y  SABR
Bond options: Black
Swaptions: Black, Hull-White y LGM
Other Interest rate Options: Black, Hull-White y LGM
Constant Maturity Swaps: SABR</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <bbva:Mainobservableinputs id="ID_9918" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_InterestratehedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_9919" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_EquityhedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_9920" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_9921" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_CredithedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_9922" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_CommoditieshedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainunobservableinputs id="ID_9923" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_InterestratehedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Beta
- Implicit correlations between tenors
- interest rates volatility</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_9924" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_EquityhedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Volatility of volatility
- Implicit assets correlations
- Long term implicit correlations
- Implicit dividends and long term repos</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_9925" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Volatility of volatility
- Implicit assets correlations
- Long term implicit correlations</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_9926" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_CredithedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Correlation default
- Credit spread
- Recovery rates
- Interest rate yield
- Default volatility</bbva:Mainunobservableinputs>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9927" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_LoansandadvancesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Specific liquidation criteria regarding losses of the EPA proceedings
PD and LGD of the internal models, valuations and specific criteria of the EPA proceedings
Discounted future cash flows</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <bbva:Mainunobservableinputs id="ID_9928" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_LoansandadvancesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Prepayment rates
- Business plan of the underlying asset, WACC, macro scenario
- Property valuation</bbva:Mainunobservableinputs>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9929" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Present-value method
(Discounted future cash flows)</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <bbva:Mainobservableinputs id="ID_9930" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Issuer credit risk
- Current market interest rates</bbva:Mainobservableinputs>
  <bbva:Mainunobservableinputs id="ID_9931" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Prepayment rates
- Issuer credit risk
- Recovery rates</bbva:Mainunobservableinputs>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9932" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Comparable pricing (Observable price in a similar market)
Present-value method</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <bbva:Mainobservableinputs id="ID_9933" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Brokers quotes
- Market operations
- NAVs published</bbva:Mainobservableinputs>
  <bbva:Mainunobservableinputs id="ID_9934" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- NAV provided by the administrator of the fund</bbva:Mainunobservableinputs>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9935" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Present-value method
(Discounted future cash flows)
Observed prices in non active markets</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <bbva:Mainobservableinputs id="ID_9936" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Issuer&#180;s credit risk
- Current market interest rates
- Non active market prices</bbva:Mainobservableinputs>
  <bbva:Mainunobservableinputs id="ID_9937" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Prepayment rates
- Issuer credit risk
- Recovery rates</bbva:Mainunobservableinputs>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9938" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Comparable pricing (Observable price in a similar market)
Present-value method</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <bbva:Mainobservableinputs id="ID_9939" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Brokers quotes
- Market operations
- NAVs published</bbva:Mainobservableinputs>
  <bbva:Mainunobservableinputs id="ID_9940" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- NAV provided by the administrator of the fund</bbva:Mainunobservableinputs>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9941" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesclassesaxisAxis_bbva_EquityhedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Future and Equity Forward: Discounted future cash flows
Equity Options: Local volatility, Momentum adjustment</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9942" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesclassesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Future and Equity Forward: Discounted future cash flows
Foreign exchange Options: Local volatility, moments adjustment</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9943" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesclassesaxisAxis_bbva_CredithedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Credit Derivatives: Default model and Gaussian copula</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9944" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesclassesaxisAxis_bbva_CommoditieshedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Commodities: Momentum adjustment and Discounted cash flows</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_9945" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesclassesaxisAxis_bbva_InterestratehedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Interest rate products (Interest rate Swaps, Call money Swaps y FRA): Discounted cash flows
Caps/Floors: Black, Hull-White y  SABR
Bond options: Black
Swaptions: Black, Hull-White y LGM
Other Interest rate Options: Black, Hull-White y LGM
Constant maturity Swaps: SABR</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <bbva:Mainobservableinputs id="ID_9946" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesclassesaxisAxis_bbva_InterestratehedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_9947" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesclassesaxisAxis_bbva_EquityhedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_9948" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesclassesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_9949" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesclassesaxisAxis_bbva_CredithedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_9950" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesclassesaxisAxis_bbva_CommoditieshedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <ifrs-full:Assets id="ID_9951" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">70045000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_9952" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">1508000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_9953" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_LoansandadvancesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">32321000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_9954" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_LoansandadvancesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">1285000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_9955" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">8178000000</ifrs-full:Assets>
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  <bbva:Disclosureshareholderremunerationsystemexplanatory id="ID_9977" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;4.   Shareholder remuneration system&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:8pt;margin-left:0pt;' &gt;As announced on February 1, 2017, BBVA&amp;#8217;s Board of Directors, at its meeting held on March, 29, 2017,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; executed a capital increase to be charged to voluntary reserves for the instrumentation of the last &amp;#8220;Dividend Option&amp;#8221;, being the subsequent shareholders&amp;#8217; remunerations fully in cash. &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:8pt;margin-left:0pt;' &gt;This fully in-cash shareholders&amp;#8217; remuneration policy would be composed &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 authori&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;zations by 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:8pt;margin-left:0pt;color:#004580;' &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:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Until 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:8pt;margin-left:0pt;' &gt;Under such remuneration scheme, BBVA offered its shareholders&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ssigned 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:8pt;margin-left:0pt;' &gt;On March 29, 2017, BBVA&amp;#8217;s Boa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rd 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; in that year. As a result of this &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;increase, the Bank&amp;#8217;s share capital increased by &amp;#8364;49,622,955.62 through the issuance of 101,271,338 newly-issued BBVA ordinary shares at 0.49 euros par value, given that 83.28% of owners of the rights of free allocation opted to receive newly issued BBVA or&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;dinary shares. The remaining 16.72% of the owners of the rights of free allocation exercised the commitment assumed by BBVA, and as a result, BBVA acquired 1,097,962,903 rights (at a gross price of &amp;#8364;0.131 each) for a total amount of &amp;#8364;143,833,140.29. This a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;mount is recorded in &amp;#8220;Total equity- Interim dividends&amp;#8221; of the consolidated balance sheet as of December 31, 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:8pt;margin-left:0pt;color:#004580;' &gt;Cash Dividends&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:8pt;margin-left:0pt;' &gt;Throughout 2017, 2018 and 2019, BBVA&amp;#8217;s Board of Directors approved the payment of the following dividends (interim or final div&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;idends) fully in cash, recorded in &amp;#8220;Total Equity- Interim Dividends&amp;#8221; and &amp;#8220;Total Equity &amp;#8211; Retained earnings&amp;#8221; of the consolidated balance sheet of the relevant year:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The Board of Directors, at its meeting held on September 27, 2017, approved the payment in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;cash of &amp;#8364;0.09 (&amp;#8364;0.0729 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;5&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;99 million and is recognized under the headings &amp;#8220;Total equity- Interim dividends&amp;#8221; of the consolidated balance sheet as of December 31, 2017.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The Annual General Meeting of BBVA held on March 16, 2018 approved, under item 1 of the Agenda, the payment of a fi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nal dividend for 2017, in addition to other dividends previously paid, in cash for an amount equal to &amp;#8364;0.15 (&amp;#8364;0.1215 net of withholding tax) per BBVA share. The total amount paid to shareholders on April 10, 2018, after deducting treasury shares held by th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e Group&amp;#8217;s companies, amounted &amp;#8364;996 million and is recognized under heading &amp;#8220;Total equity-  Retained earnings&amp;#8221; of the consolidated balance sheet as of December 31, 2018. &lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The Board of Directors, at its meeting held on September 26, 2018, approved the paymen&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t in cash of &amp;#8364;0.10 (&amp;#8364;0.081 net of withholding tax) per BBVA share, as gross interim dividend against 2018 results. The total amount paid to shareholders on October 10, 2018, after deducting treasury shares held by the Group&amp;#39;s companies, amounted to &amp;#8364;663 mi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;llion and is recognized under the heading &amp;#8220;Total equity- Interim dividends&amp;#8221; of the consolidated balance sheet as of December 31, 2018.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The Annual General Meeting of BBVA held on March 15, 2019, approved, under item 1 of the Agenda, the payment of a final d&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ividend for 2018, in addition to other dividends previously paid, in cash for an amount equal to &amp;#8364;0.16 (&amp;#8364;0.1296 withholding tax) per BBVA share. The total amount paid to shareholders on April 10, 2019, after deducting treasury shares held by the Group&amp;#8217;s Co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;mpanies, amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;1,064 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;million and is recognized under the heading &amp;#8220;Total equity- Retained earnings&amp;#8221; of the consolidated balance sheet as of December 31, 2019.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The Board of Directors, at its meeting held on October 2, 2019, approved the payment in cas&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;h of &amp;#8364;0.10 (&amp;#8364;0.081 net of withholding tax rate of 19%) per BBVA share, as gross interim dividend based on 2019 results. The total amount paid to shareholders on October 15, 2019, after deducting treasury shares held by the Group&amp;#180;s companies, amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;6&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;65 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;million and is recognized under the heading &amp;#8220;Total equity-  Interim dividends&amp;#8221; of the consolidated balance sheet as of December 31, 2019.&lt;/font&gt;&lt;/span&gt;&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;The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;unaudited&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; accounting statements prepared in accordance with legal requirements evidencing the existence of sufficient liquidity for the distribution of the amounts agreed on October 2, 2019, mentioned above&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:469.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:469.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:366pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:366pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &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:right;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;August, 31, 2019&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.45pt;' &gt;&lt;td style='width:366pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:366pt;' &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:103.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,137&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:366pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:366pt;' &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:103.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;276&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;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:366pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Maximum amount distributable&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:right;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;861&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;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:366pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Amount of proposed interim dividend&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:right;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;667&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;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:366pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;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:right;vertical-align:middle;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;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;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:366pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;BBVA cash balance available to the date&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:right;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;6,691&lt;/font&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:8pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Proposal on allocation of earnings for 2019&lt;/font&gt;&lt;/p&gt;&lt;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;The allocation of earnings for 2019 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:469.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:469.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Allocation of earnings of BBVA, S.A. (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25.15pt;' &gt;&lt;td style='width:360.75pt;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:360.75pt;' &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:108.75pt;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:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;December 2019&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:360.75pt;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:360.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Profit for year&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2,241&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:360.75pt;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:360.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Distribution&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &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:12pt;' &gt;&lt;td style='width:360.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:360.75pt;' &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:108.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &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:360.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:360.75pt;' &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:108.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &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:360.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:360.75pt;' &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:108.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;419&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:360.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:360.75pt;' &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:108.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;88&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureshareholderremunerationsystemexplanatory>
  <ifrs-full:EarningsPerShareExplanatory id="ID_9978" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;5.   Earnings per share&lt;/font&gt;&lt;/p&gt;&lt;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;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:8pt;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:498pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:498pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:329.25pt;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:329.25pt;' &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: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:#072146;' &gt;2019&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:#072146;' &gt;2018 &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:6.8pt;font-weight:bold;color:#072146;' &gt;(4)&lt;/font&gt;&lt;/sup&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:#072146;' &gt;2017 &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:6.8pt;font-weight:bold;color:#072146;' &gt;(4)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:329.25pt;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:329.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Numerator for basic and diluted earnings per share (millions of euros)&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:#FFFFFF;' &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:#FFFFFF;' &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:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:329.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:329.25pt;' &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:56.25pt;border-top-style:solid;border-top-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;3,512&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,400&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,514&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.15pt;' &gt;&lt;td style='width:329.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:329.25pt;' &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: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;(419)&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;(447)&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;(430)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:329.25pt;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:329.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Profit adjusted (millions of euros) (A)&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:#004481;' &gt;3,093&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:#004481;' &gt;4,953&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:#004481;' &gt;3,084&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:329.25pt;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:329.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Denominator for basic earnings per share (number of shares outstanding)&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:#004481;' &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:#004481;' &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:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:329.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:329.25pt;' &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:56.25pt;border-top-style:solid;border-top-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;6,668&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:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-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;6,642&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:329.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:329.25pt;' &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: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;6,668&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;6,668&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;6,642&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:329.25pt;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:329.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Adjusted number of shares - Basic earnings per share (C)&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:#004481;' &gt;6,648&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:#004481;' &gt;6,636&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:#004481;' &gt;6,642&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:329.25pt;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:329.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Adjusted number of shares - diluted earnings per share  (D)&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:#004481;' &gt;6,648&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:#004481;' &gt;6,636&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:#004481;' &gt;6,642&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:329.25pt;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:329.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Earnings per share (*)&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:#004481;' &gt;0.47&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:#004481;' &gt;0.75&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:#004481;' &gt;0.46&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:329.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:329.25pt;' &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:56.25pt;border-top-style:solid;border-top-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;0.47&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.75&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.46&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:329.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:329.25pt;' &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: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;0.47&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;0.75&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;0.46&lt;/font&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:6pt;margin-left:35.45pt;' &gt;(1)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &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:6pt;margin-left:35.45pt;' &gt;(2)   Weighted average number of shares outstanding (millions of euros), excluding weighted average of treasury shares during the year.&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:6pt;margin-left:35.45pt;' &gt;(3)   Corr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;ective 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:6pt;margin-left:35.45pt;' &gt;(4)   The figures corresponding to 2018 and 2017 have been restated (see Note 1.3)&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:6pt;margin-left:35.45pt;' &gt;(*)   In 2019 the weighted average number of shares outstandi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;ng was 6,668 million (6,668 million and 6,642 million in 2018 and 2017, respectively) and the adjustment of additional Tier 1 securities amounted to &amp;#8364;419 million (&amp;#8364;447 and &amp;#8364;430 million in 2018 and 2017, 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:8pt;margin-left:0pt;' &gt;As of December 31, 2019, 2018 and 2017&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, 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.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; For this reason, basic and diluted earnings per share are the same&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:EarningsPerShareExplanatory>
  <ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory id="ID_9979" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;6.   Operating segment reporting&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:8pt;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:8pt;' &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:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;During 2019, the reporting st&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ructure of the BBVA Group&amp;#8217;s business areas differs from the one presented at the end of the year 2018, as a result of the integration of the Non-Core Real Estate business area into Banking Activity in Spain, which has been renamed &amp;#8220;Spain&amp;#8221;. Additionally, ba&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lance sheet intra-group adjustments between Corporate Center and the operating segments have been reallocated to the corresponding operating segments. In addition, certain expenses related to global projects and activities have been reallocated between the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; Corporate Center and the corresponding operating segments. In order to make the 2019 information comparable as required by IFRS 8 &amp;#8220;Information by business segments&amp;#8221;, figures as of December 31, 2018 and 2017 have been restated in conformity with the new se&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;gment reporting structure. The BBVA Group&amp;#39;s operating segments are summarized below:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain &lt;/font&gt;&lt;/span&gt;&lt;/p&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:8pt;margin-left:35.45pt;color:#000000;' &gt;Includes mainly the banking and insurance business that the Group carries out in Spain. &lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The United States&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:4pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:36pt;' &gt;Includes &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;the financial business activity of BBVA USA in t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;he country and the activity of the branch of BBVA, S.A., in New York.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/span&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:8pt;margin-left:35.45pt;color:#000000;' &gt;Includes banking and insurance businesses in this country as well as the activity of its branch in Houston.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; &lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/span&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:8pt;margin-left:35.45pt;color:#000000;' &gt;Reports the activity of Garanti BBVA group that is mainly carri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ed out in this country and, to a lesser extent, in Romania and the Netherlands. &lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;South America&lt;/font&gt;&lt;/span&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:8pt;margin-left:35.45pt;color:#000000;' &gt;Primarily includes the Group&amp;#180;s banking and insurance businesses in the region. In relation to the sale of BBVA Paraguay, the closing is expected to take place du&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ring the first quarter of 2020 (see Note 3).&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rest of Eurasia &lt;/font&gt;&lt;/span&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:8pt;margin-left:35.45pt;color:#000000;' &gt;Includes the banking business activity carried out by the Group in Europe and Asia, excluding Spain.&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:8pt;margin-left:0pt;' &gt;Lastly, Corporate Center performs centralized Group functions, including: the costs of the he&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ad offices with a corporate function; management of structural exchange rate positions; some equity instruments issuances to support an adequate management of the Group&amp;#39;s global solvency. It also includes portfolios whose management is not linked to custom&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;er relationships, such as industrial holdings, certain tax assets and liabilities; funds due to commitments to employees; goodwill and other intangible assets.&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:8pt;margin-left:0pt;' &gt;The breakdown of the BBVA Group&amp;#8217;s total assets by operating segments as of December 31, 2019, 20&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;18 and 2017, is as follows:&lt;/font&gt;&lt;/p&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: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:#02A5A5;' &gt;Total assets by operating segments (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018 (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017 (1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;365,374&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;354,901&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;350,520&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;88,529&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;75,775&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;109,079&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;97,432&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;90,214&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey &lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;64,416&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;78,789&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;54,996&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;54,373&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;75,320&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:303pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,248&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18,834&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17,265&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:303pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;705,641&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;673,848&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;687,884&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Corporate Center and adjustments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6,951)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,841&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,175&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:303pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;698,690&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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;/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:6pt;margin-left:21.25pt;' &gt;(1)   The figures corresponding to 2018 and 2017 have been restated (see Note 1.3).&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:8pt;margin-left:0pt;' &gt;The following table sets forth certain summarized information relating to the income of each operating segment and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Corporate Center for the years ended December 31, 2019, 2018 and 2017 and reconciles the income statement of the various operating segments to the consolidated income statement of the Group:&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:108.75pt;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:108.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;BBVA Group&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;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:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;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:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;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:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;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:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;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:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;South America&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;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:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Rest of Eurasia&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;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:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Corporate Center&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.95pt;' &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;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;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:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:11.45pt;' &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:6pt;color:#000000;' &gt;Net interest income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;18,202&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,645&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,395&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,209&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,814&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,196&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;175&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(233)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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:6pt;color:#000000;' &gt;Gross income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;24,542&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,734&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,223&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,029&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,590&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,850&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;454&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(339)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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:6pt;color:#000000;' &gt;Operating profit /(loss) before tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,398&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,878&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;705&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,691&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,341&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,396&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2,775)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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:#5AC4C4;border-color:Black;min-width:108.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,512&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,386&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;590&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2,699&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;506&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;721&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(2,517)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.95pt;' &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;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2018 (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:11.45pt;' &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:6pt;color:#000000;' &gt;Net interest income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,698&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;175&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:11.45pt;' &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:6pt;color:#000000;' &gt;Gross income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,968&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;414&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(420)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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:6pt;color:#000000;' &gt;Operating profit /(loss) before tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,446&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,840&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;920&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,288&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;148&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(463)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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:#5AC4C4;border-color:Black;min-width:108.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;5,400&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,400&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;736&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2,367&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;567&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;578&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(343)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.95pt;' &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;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2017 (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:30.75pt;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:30.75pt;' &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:11.45pt;' &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:6pt;color:#000000;' &gt;Net interest income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,810&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;180&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:11.45pt;' &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:6pt;color:#000000;' &gt;Gross income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,162&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;468&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;74&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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:6pt;color:#000000;' &gt;Operating profit /(loss) before tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,189&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;749&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,960&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,143&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,671&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;181&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,962)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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:#5AC4C4;border-color:Black;min-width:108.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,514&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;877&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &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:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2,170&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;823&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;847&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:30.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:30.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(1,817)&lt;/font&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:6pt;margin-left:21.25pt;' &gt;(1)   The figures corresponding to 2018 a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;nd 2017 have been restated (see Note 1.3).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory>
  <bbva:Valuationtecnniques id="ID_9980" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_DepositsMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">Present-value method
(Discounted future cash flows)</bbva:Valuationtecnniques>
  <bbva:Mainobservableinputs id="ID_9981" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_DepositsMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">- Interest rate yield
- Funding interest rates observed in the market or in consensus services
-  Exchange rates</bbva:Mainobservableinputs>
  <bbva:Mainunobservableinputs id="ID_9982" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_DepositsMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">- Funding interest rates not observed in the market or in consensus services</bbva:Mainunobservableinputs>
  <bbva:Valuationtecnniques id="ID_9983" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_InterestratehedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">Interest rate products (Interest rate Swaps, call money Swaps y FRA): Discounted cash flows
Caps/Floors: Black, Hull-White y  SABR
Bond options: Black
Swaptions: Black, Hull-White y LGM
Other Interest rate Options: Black, Hull-White y LGM
Constant Maturity Swaps: SABR</bbva:Valuationtecnniques>
  <bbva:Mainobservableinputs id="ID_9984" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_InterestratehedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainunobservableinputs id="ID_9985" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_InterestratehedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">- Beta
- Correlation between tenors
- Interest rates volatility</bbva:Mainunobservableinputs>
  <bbva:Valuationtecnniques id="ID_9986" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_EquityhedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">Future and Equity forward: Discounted future cash flows
Equity Options: Local volatility, momentum adjustment</bbva:Valuationtecnniques>
  <bbva:Mainobservableinputs id="ID_9987" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_EquityhedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory id="ID_9988" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;9.   Cash, cash balances at central banks and other demand deposits&lt;/font&gt;&lt;/p&gt;&lt;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;The breakdown of the balance under the heading &amp;#8220;Cash, cash balances at central banks and other demand 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='4' 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:8pt;color:#02A5A5;' &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:255.75pt;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:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#44546A;' &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:#072146;' &gt;2019&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:#072146;' &gt;2018&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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:255.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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: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;7,060&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;6,346&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;6,220&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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: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;31,755&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;43,880&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;31,718&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:255.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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: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;5,488&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;7,970&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;4,742&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:255.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:255.75pt;' &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:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;44,303&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;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &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:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &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;/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:8pt;margin-left:0pt;' &gt;The change in &amp;#8220;Cash balances at central banks&amp;#8221; is mainly due to the decrease in cash held at the Bank of Spain.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory>
  <bbva:Mainunobservableinputs id="ID_9989" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_EquityhedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">- Volatility of volatility
- Assets correlation</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_9990" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">- Volatility of volatility
- Assets correlation</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_9991" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_CredithedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">- Correlation default
- Credit spread
- Recovery rates
- Interest rate yield
- Default volatility</bbva:Mainunobservableinputs>
  <bbva:Mainobservableinputs id="ID_9992" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_9993" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_CredithedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Valuationtecnniques id="ID_9994" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">Future and Equity Forward: Discounted future cash flows
Foreign exchange Options: Local volatility, moments adjustment</bbva:Valuationtecnniques>
  <bbva:Valuationtecnniques id="ID_9995" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_CredithedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">Credit Derivatives: Default model and Gaussian copula</bbva:Valuationtecnniques>
  <bbva:Valuationtecnniques id="ID_9996" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_CommoditieshedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">Commodities: Momentum adjustment and discounted cash flows</bbva:Valuationtecnniques>
  <bbva:Valuationtecnniques id="ID_9997" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_ShortpositionsMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">Present-value method
(Discounted future cash flows)</bbva:Valuationtecnniques>
  <bbva:Mainobservableinputs id="ID_9998" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_CommoditieshedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainunobservableinputs id="ID_9999" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_ShortpositionsMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">- Prepayment rates
- Issuer&#180;s credit risk
- Current market interest rates</bbva:Mainunobservableinputs>
  <bbva:Valuationtecnniques id="ID_10000" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialassetsdesignatedatfairvaluethroughprofitorlossMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">Present-value method
(Discounted future cash flows)</bbva:Valuationtecnniques>
  <bbva:Mainobservableinputs id="ID_10001" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialassetsdesignatedatfairvaluethroughprofitorlossMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">- Prepayment rates
- Issuer&#180;s credit risk
- Current market interest rates</bbva:Mainobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10002" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialassetsdesignatedatfairvaluethroughprofitorlossMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">- Prepayment rates
- Issuer&#180;s credit risk
- Current market interest rates</bbva:Mainunobservableinputs>
  <bbva:Valuationtecnniques id="ID_10003" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_InterestratehedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">Interest rate products (Interest rate Swaps, Call money Swaps y FRA): Discounted cash flows
Caps/Floors: Black, Hull-White y  SABR
Bond options: Black
Swaptions: Black, Hull-White y LGM
Other Interest rate Options: Black, Hull-White y LGM
Constant Maturity Swaps: SABR</bbva:Valuationtecnniques>
  <bbva:Valuationtecnniques id="ID_10004" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_EquityhedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">Future and Equity Forward: Discounted future cash flows
Equity Options: Local volatility, momentum adjustment</bbva:Valuationtecnniques>
  <bbva:Valuationtecnniques id="ID_10005" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">Future and Equity Forward: Discounted future cash flows
Foreign exchange Options: Local Volatility, moments adjustment</bbva:Valuationtecnniques>
  <bbva:Valuationtecnniques id="ID_10006" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_CredithedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">Credit Derivatives: Default model and Gaussian copula</bbva:Valuationtecnniques>
  <bbva:Valuationtecnniques id="ID_10007" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_CommoditieshedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">Commodities: Momentum adjustment and discounted cash flows</bbva:Valuationtecnniques>
  <bbva:Mainobservableinputs id="ID_10008" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_InterestratehedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <ifrs-full:DisclosureOfFinancialInstrumentsHeldForTradingExplanatory id="ID_10009" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;10.   Financial assets and liabilities held for trading&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;10.1&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;Breakdown of the balance&lt;/font&gt;&lt;/p&gt;&lt;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;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:22.5pt;' &gt;&lt;td colspan='5' 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:8pt;color:#02A5A5;' &gt;Financial assets and liabilities held for trading (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#44546A;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#E7E6E6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#E7E6E6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#E7E6E6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33,185&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35,265&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.1.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,892&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,801&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;1,037&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;880&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;962&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other sectors&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;7,855&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;4,374&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;5,839&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.1.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,309&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,573&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Issued by central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;840&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;1,001&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;1,371&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Issued by public administrations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;23,918&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;22,950&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;19,344&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Issued by financial institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;679&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;790&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;816&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;872&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;836&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;1,041&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.1.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34,303&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:12.75pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Loans and advances to central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;535&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;2,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Reverse repurchase agreement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;535&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;2,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;21,286&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;14,566&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Reverse repurchase agreement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;21,219&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;13,305&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;12,482&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;12,021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Reverse repurchase agreement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;12,187&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;11,794&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:240pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;102,688&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#E7E6E6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#E7E6E6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#E7E6E6;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35,019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36,169&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,249&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,013&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42,365&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;7,635&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;10,511&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;7,635&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;10,511&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;24,969&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;15,687&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;24,578&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;14,839&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;9,761&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;11,736&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;9,689&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;11,466&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:240pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;89,633&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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;/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;As of December 31, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2019, 2018 and 2017 &amp;#8220;Short positions&amp;#8221; include &amp;#8364;11,649 million, 10,255 million and 7,243 million, respectively, held with general governments&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: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;10.2   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:8pt;margin-left:0pt;' &gt;The derivatives 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, 2019, 2018 and 2017, trading derivatives were mainly &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;contracted in over-the-counter (OTC) markets, with counterparties, consisting primarily of foreign credit institutions and other non financial corporations, and are related to foreign-exchange,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:8pt;margin-left:0pt;' &gt;Below is a breakdown of the net&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:&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='10' rowspan='1' style='width:461.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:461.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;Derivatives by type of risk and by product or by type of market (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:90pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:90pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;font-weight:bold;color:#072146;' &gt;2019&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:7pt;font-weight:bold;color:#072146;' &gt;2018&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:7pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.25pt;' &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:7pt;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:center;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;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:7pt;font-weight:bold;color:#072146;' &gt;Liabilities&lt;/font&gt;&lt;/td&gt;&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:7pt;font-weight:bold;color:#072146;' &gt;Notional amount - Total&lt;/font&gt;&lt;/td&gt;&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:7pt;font-weight:bold;color:#072146;' &gt;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:7pt;font-weight:bold;color:#072146;' &gt;Liabilities&lt;/font&gt;&lt;/td&gt;&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:7pt;font-weight:bold;color:#072146;' &gt;Notional amount - Total&lt;/font&gt;&lt;/td&gt;&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:7pt;font-weight:bold;color:#072146;' &gt;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:7pt;font-weight:bold;color:#072146;' &gt;Liabilities&lt;/font&gt;&lt;/td&gt;&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:7pt;font-weight:bold;color:#072146;' &gt;Notional amount - Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;21,479&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;20,853&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;3,024,794&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;19,146&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;18,769&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;2,929,371&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;22,606&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;22,546&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;2,152,490&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;color:#000000;' &gt;OTC &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:7pt;color:#000000;' &gt;21,479&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:7pt;color:#000000;' &gt;20,852&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:7pt;color:#000000;' &gt;2,997,443&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:7pt;color:#000000;' &gt;19,146&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:7pt;color:#000000;' &gt;18,769&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:7pt;color:#000000;' &gt;2,910,016&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:7pt;color:#000000;' &gt;22,606&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:7pt;color:#000000;' &gt;22,546&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:7pt;color:#000000;' &gt;2,129,474&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;color:#000000;' &gt;Organized market&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;27,351&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;19,355&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:7pt;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:7pt;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:7pt;color:#000000;' &gt;23,016&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;2,263&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;3,499&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;84,140&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;2,799&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;2,956&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;114,184&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;1,778&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;2,336&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;95,573&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;color:#000000;' &gt;OTC&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:7pt;color:#000000;' &gt;353&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:7pt;color:#000000;' &gt;1,435&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:7pt;color:#000000;' &gt;40,507&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:7pt;color:#000000;' &gt;631&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:7pt;color:#000000;' &gt;463&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:7pt;color:#000000;' &gt;39,599&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:7pt;color:#000000;' &gt;578&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:7pt;color:#000000;' &gt;1,207&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:7pt;color:#000000;' &gt;42,298&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;color:#000000;' &gt;Organized market&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:7pt;color:#000000;' &gt;1,910&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:7pt;color:#000000;' &gt;2,065&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:7pt;color:#000000;' &gt;43,633&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:7pt;color:#000000;' &gt;2,168&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:7pt;color:#000000;' &gt;2,492&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:7pt;color:#000000;' &gt;74,586&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:7pt;color:#000000;' &gt;1,200&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:7pt;color:#000000;' &gt;1,129&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:7pt;color:#000000;' &gt;53,275&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;9,086&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;10,266&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;472,194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;8,355&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;9,693&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;432,283&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;10,371&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;10,729&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;380,404&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;color:#000000;' &gt;OTC&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:7pt;color:#000000;' &gt;9,049&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:7pt;color:#000000;' &gt;10,260&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:7pt;color:#000000;' &gt;463,662&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:7pt;color:#000000;' &gt;8,344&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:7pt;color:#000000;' &gt;9,638&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:7pt;color:#000000;' &gt;426,952&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:7pt;color:#000000;' &gt;10,337&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:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10,688&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:7pt;color:#000000;' &gt;373,303&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;color:#000000;' &gt;Organized market&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:7pt;color:#000000;' &gt;37&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:7pt;color:#000000;' &gt;6&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:7pt;color:#000000;' &gt;8,532&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:7pt;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:7pt;color:#000000;' &gt;55&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:7pt;color:#000000;' &gt;5,331&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:7pt;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:7pt;color:#000000;' &gt;40&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:7pt;color:#000000;' &gt;7,101&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;353&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;397&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;29,077&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:7pt;font-weight:bold;color:#004481;' &gt;232&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;393&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;25,452&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;489&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;517&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;30,181&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;color:#000000;' &gt;Credit default swap&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:7pt;color:#000000;' &gt;338&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:7pt;color:#000000;' &gt;283&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:7pt;color:#000000;' &gt;26,702&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:7pt;color:#000000;' &gt;228&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:7pt;color:#000000;' &gt;248&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:7pt;color:#000000;' &gt;22,791&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:7pt;color:#000000;' &gt;480&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:7pt;color:#000000;' &gt;507&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:7pt;color:#000000;' &gt;27,942&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;color:#000000;' &gt;Credit spread option&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;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:7pt;color:#000000;' &gt;150&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;500&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;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:7pt;color:#000000;' &gt;200&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;color:#000000;' &gt;Total return swap&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,225&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;145&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,161&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,039&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Commodities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;36&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;font-weight:bold;color:#004481;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;561&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;DERIVATIVES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;33,185&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;35,019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;3,610,269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;30,536&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;31,815&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;3,501,358&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;35,265&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;36,169&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;border-top-style: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:7pt;font-weight:bold;color:#004481;' &gt;2,659,246&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;font-style:italic;color:#666666;' &gt;Of which: OTC - credit institutions&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:7pt;font-style:italic;color:#808080;' &gt;20,706&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:7pt;font-style:italic;color:#808080;' &gt;23,717&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:7pt;font-style:italic;color:#808080;' &gt;1,000,243&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:7pt;font-style:italic;color:#808080;' &gt;16,979&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:7pt;font-style:italic;color:#808080;' &gt;18,729&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:7pt;font-style:italic;color:#808080;' &gt;897,384&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:7pt;font-style:italic;color:#808080;' &gt;21,016&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:7pt;font-style:italic;color:#808080;' &gt;22,804&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:7pt;font-style:italic;color:#808080;' &gt;898,209&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;font-style:italic;color:#666666;' &gt;Of which: OTC - other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;6,153&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;6,214&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;2,370,988&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;7,372&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;7,758&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;2,355,784&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;8,695&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;9,207&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;1,548,919&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:7pt;font-style:italic;color:#666666;' &gt;Of which: OTC - other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;4,378&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;3,016&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;159,521&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;4,005&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;2,780&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;148,917&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;4,316&lt;/font&gt;&lt;/td&gt;&lt;td style='width:41.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:41.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-style:italic;color:#808080;' &gt;2,986&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:7pt;font-style:italic;color:#808080;' &gt;128,722&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFinancialInstrumentsHeldForTradingExplanatory>
  <bbva:Mainobservableinputs id="ID_10010" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_EquityhedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_10011" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_10012" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_CredithedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_10013" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_CommoditieshedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10014" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_InterestratehedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">- Beta
- Implicit correlations between tenors
- interest rates volatility</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10015" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_EquityhedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">- Volatility of volatility
- Implicit assets correlations
- Long term implicit correlations
- Implicit dividends and long term repos</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10016" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">- Volatility of volatility
- Implicit assets correlations
- Long term implicit correlations</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10017" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_CredithedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">- Correlation default
- Credit spread
- Recovery rates
- Interest rate yield
- Default volatility</bbva:Mainunobservableinputs>
  <ifrs-full:Liabilities id="ID_10018" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">62541</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10019" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">827</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10020" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_DepositsMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">32121</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10021" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_DepositsMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">649</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10022" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_ifrs-full_DerivativesMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">30419</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10023" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_ifrs-full_DerivativesMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">175</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10024" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_ShortpositionsMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">1</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10025" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_ShortpositionsMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">2</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10026" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialassetsdesignatedatfairvaluethroughprofitorlossMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">9984</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10027" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialassetsdesignatedatfairvaluethroughprofitorlossMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">27</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10028" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">2192</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10029" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">11</ifrs-full:Liabilities>
  <bbva:Financialassetsatfairvaluethroughothercomprehensiveincomedebtsecurities id="ID_10030" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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:519pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:519pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#02A5A5;' &gt;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:8.25pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:192pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:192pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:192pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:192pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:135pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Amortized      cost &lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;gains&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Fair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;value&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Amortized      cost &lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;gains&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Fair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;Domestic debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:18pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Government and other government agency debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;20,740&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;830&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;21,550&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;17,205&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;661&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;17,857&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;959&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;65&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,024&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;793&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;63&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;855&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;907&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;40&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;947&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;804&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;841&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;22,607&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;935&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;23,521&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;18,802&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;761&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;19,553&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;Foreign debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:9pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;7,790&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;7,786&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;6,299&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;(142)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;6,163&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Government and other government agency debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,869&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,868&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,286&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(121)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,169&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;77&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;34&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;843&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;840&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;978&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;961&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;11,376&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;68&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;(51)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;11,393&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;14,507&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;(217)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;14,338&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Government securities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,570&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,599&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11,227&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(135)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11,130&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#808080;' &gt;Treasury and other government agencies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;5,595&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;32&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;5,624&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;7,285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;(56)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;7,258&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#808080;' &gt;States and political subdivisions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;2,975&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;2,975&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;3,942&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;(79)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;3,872&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;124&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:9pt;' &gt;&lt;td style='width:135pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,684&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(39)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,670&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,231&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(82)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,158&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;3,752&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;(76)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;3,713&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;4,164&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;(269)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;3,916&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Government and other government agency debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,752&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(76)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,713&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,007&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(256)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,771&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;157&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;145&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;Other countries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;11,870&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;554&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;(106)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;12,318&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;9,551&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;319&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;(130)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;9,740&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other foreign governments and other government agency debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,963&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;383&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(78)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7,269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,510&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;173&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(82)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,601&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,005&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,010&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;987&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;986&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,795&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,892&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,856&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;111&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,947&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,106&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,197&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,206&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;34,788&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;681&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(259)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;35,210&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;34,521&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;392&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(758)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;34,157&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:135pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;57,395&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,617&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(280)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;58,731&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,153&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(768)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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;table style='border-collapse:collapse;' &gt;&lt;tr style='height:17.45pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:474pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#F2F2F2;border-color:Black;min-width:474pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Available-for-sale financial assets. December 2017 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:51pt;' &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: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:#072146;' &gt;Amortized       cost&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:#072146;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;gains&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:#072146;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;losses&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:#072146;' &gt;Fair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Domestic debt securities&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:left;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;&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;&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;&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;&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;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Government and other government agency debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:left;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;22,765&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;791&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;(17)&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;23,539&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:left;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;891&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;72&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;962&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;1,061&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;43&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;1,103&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal Spanish debt securities&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:left;vertical-align:middle;background-color:#5AC4C4;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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Foreign debt securities&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:left;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;&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:#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:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;&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;9,755&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;45&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;(142)&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;9,658&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Government and other government agency debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:left;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;8,101&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;34&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;(120)&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;8,015&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:left;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;212&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;1&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;(3)&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;209&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;1,442&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;10&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;(19)&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;1,434&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;&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;12,479&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;36&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;(198)&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;12,317&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;border-top-style:solid;border-top-width:1;text-align:left;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;8,625&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;8&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;(133)&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;8,500&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Treasury and other government agencies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:left;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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;3,052&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;(34)&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;3,018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:left;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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;5,573&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;8&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;(99)&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;5,482&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:left;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;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;1&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;57&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;3,798&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;26&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;(65)&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;3,759&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;&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;5,052&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;48&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;(115)&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;4,985&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Government and other government agency debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:left;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;5,033&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;48&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;(114)&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;4,967&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:left;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;19&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;(1)&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;19&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Other countries&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:left;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;&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;13,271&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;533&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;(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;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;13,687&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17.25pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other foreign governments and other government agency debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:left;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;6,774&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;325&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;(77)&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;7,022&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:left;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;1,330&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;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;(1)&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;1,331&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:left;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;2,535&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;139&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;(19)&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;2,654&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;2,632&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;66&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;(19)&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;2,679&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:219pt;' &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:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:219pt;' &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:left;vertical-align:middle;background-color:#5AC4C4;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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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;</bbva:Financialassetsatfairvaluethroughothercomprehensiveincomedebtsecurities>
  <bbva:Disclosureofnontradingfinancialassetsmndatoryatfairvaluethroughprofitorlossexplanatory id="ID_10031" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;11.   Non-trading financial assets mandatorily at fair value through profit or 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:8pt;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:24.75pt;' &gt;&lt;td colspan='5' 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:#02A5A5;' &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:297.75pt;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:297.75pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:297.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.1.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,095&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:47.25pt;' &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:297.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.1.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;110&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;237&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:47.25pt;' &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:297.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.1.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,803&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:47.25pt;' &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:297.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:297.75pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,557&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &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;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofnontradingfinancialassetsmndatoryatfairvaluethroughprofitorlossexplanatory>
  <ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory id="ID_10032" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;12.   Financial assets and liabilities designated at fair value through profit or loss&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:8pt;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:23.25pt;' &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:#02A5A5;' &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:12.75pt;' &gt;&lt;td style='width:229.5pt;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:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#44546A;' &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:8pt;font-weight:bold;color:#072146;' &gt;Notes&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:8pt;font-weight:bold;color:#072146;' &gt;2019&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:8pt;font-weight:bold;color:#072146;' &gt;2018&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:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:229.5pt;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:229.5pt;' &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: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:8pt;font-weight:bold;color:#004481;' &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:8pt;font-weight:bold;color:#004481;' &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:8pt;font-weight:bold;color:#004481;' &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:8pt;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:229.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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: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:8pt;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:#C0C0C0;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:5.5pt;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:#C0C0C0;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:5.5pt;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;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,888&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:229.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:63pt;text-align:center;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:8pt;color:#000000;' &gt;1,214&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:8pt;color:#000000;' &gt;1,313&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:8pt;color:#000000;' &gt;174&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:229.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:63pt;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:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;648&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:229.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:229.5pt;' &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:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7.1.2&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,214&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:#5AC4C4;border-color:Black;min-width:63pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &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;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:229.5pt;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:229.5pt;' &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: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:8pt;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:8pt;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:8pt;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: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:229.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deposits&lt;/font&gt;&lt;/td&gt;&lt;td 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:8pt;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;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;944&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:8pt;color:#000000;' &gt;976&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:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:229.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:63pt;text-align:center;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:8pt;color:#000000;' &gt;4,656&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:8pt;color:#000000;' &gt;2,858&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:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:229.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other financial liabilities: Unit-linked products&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;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:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;4,410&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:8pt;color:#000000;' &gt;3,159&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:8pt;color:#000000;' &gt;2,222&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:229.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:229.5pt;' &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:63pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;10,010&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:#5AC4C4;border-color:Black;min-width:63pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &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;/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:8pt;margin-left:0pt;' &gt;As of December 31, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2019, 2018 and 2017, within &amp;#8220;Financial liabilities designated at fair value through profit or loss&amp;#8221;, liabilities linked to insurance products where the policyholder bears the risk (&amp;quot;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;' &gt;Unit-Link&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;quot;) are recorded.  Since the liabilities linked to insurance produ&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;cts 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.&lt;/font&gt;&lt;/p&gt;&lt;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;In addition, the assets and liabilities are &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;included in these headings to reduce inconsistencies (asymmetries) in the valuation of those operations and those used to manage their risk.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory>
  <bbva:Disclosurenoncurrentassetsanddisposalgroupsclassifiedasheldforsalebreakdownbyitemsexplanatory id="ID_10033" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:20.25pt;' &gt;&lt;td colspan='5' 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:#02A5A5;' &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:16.5pt;' &gt;&lt;td style='width:234.75pt;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:234.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#44546A;' &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:6pt;font-weight:bold;color:#072146;' &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:6pt;font-weight:bold;color:#072146;' &gt;2019&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:6pt;font-weight:bold;color:#072146;' &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:6pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:234.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Foreclosures and recoveries (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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:6pt;color:#000000;' &gt;1,647&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:6pt;color:#000000;' &gt;2,211&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:6pt;color:#000000;' &gt;6,207&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:234.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:234.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Foreclosures&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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:6pt;color:#666666;' &gt;1,553&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;2,135&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;6,047&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:234.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:234.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Recoveries from financial leases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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:6pt;color:#666666;' &gt;94&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;160&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:234.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:234.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Assets from tangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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:6pt;color:#000000;' &gt;310&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;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:6pt;color:#000000;' &gt;447&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:234.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:234.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Business sale - Assets (**)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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:6pt;color:#000000;' &gt;1,716&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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:6pt;color:#000000;' &gt;18,623&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:234.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:234.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accrued amortization (***)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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:6pt;color:#000000;' &gt;(51)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(44)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(77)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:234.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234.75pt;' &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:49.5pt;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:6pt;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:6pt;color:#000000;' &gt;(543)&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:6pt;color:#000000;' &gt;(628)&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:6pt;color:#000000;' &gt;(1,348)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &gt;&lt;td style='width:234.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:234.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:49.5pt;' &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: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:#5AC4C4;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,079&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:#5AC4C4;border-color:Black;min-width:49.5pt;' &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: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:#5AC4C4;border-color:Black;min-width:49.5pt;' &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;</bbva:Disclosurenoncurrentassetsanddisposalgroupsclassifiedasheldforsalebreakdownbyitemsexplanatory>
  <bbva:Disclosureofavailableforsalefinancialassetsthroughtothertcomprehensiveincomeexplanatory id="ID_10034" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;13.   Financial assets at fair value through other comprehensive income&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;13.1   B&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;reakdown of the balance&lt;/font&gt;&lt;/p&gt;&lt;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;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:23.25pt;' &gt;&lt;td colspan='5' 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:#02A5A5;' &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:234.75pt;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:234.75pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:234.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234.75pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.1.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,420&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,488&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:234.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Loss allowances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;(1,264)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.35pt;' &gt;&lt;td style='width:234.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:234.75pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,420&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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;tr style='height:14.25pt;' &gt;&lt;td style='width:234.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234.75pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.1.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;58,841&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;66,273&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:234.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Loss allowances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;(110)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.6pt;' &gt;&lt;td style='width:234.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:234.75pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;58,731&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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;tr style='height:14.25pt;' &gt;&lt;td style='width:234.75pt;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:234.75pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7.1.2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &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:234.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:234.75pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;61,183&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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;/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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;13.2   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:8pt;margin-left:0pt;' &gt;The breakdown of the balance under the heading &amp;quot;Equity instruments&amp;quot; of the accompanying consolidated financial statements as of December 31, 2019 and 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:23.25pt;' &gt;&lt;td colspan='9' rowspan='1' style='width:519pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:519pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;Financial assets at fair value through other comprehensive income. Equity instruments. (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:111pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:204pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:204pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:204pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:111pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &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: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:7pt;font-weight:bold;color:#003366;' &gt;Amortized cost&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:7pt;font-weight:bold;color:#003366;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;gains&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:7pt;font-weight:bold;color:#003366;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;losses&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:7pt;font-weight:bold;color:#003366;' &gt;Fair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt; 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:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;Amortized cost&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:7pt;font-weight:bold;color:#003366;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;gains&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:7pt;font-weight:bold;color:#003366;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt;losses&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:7pt;font-weight:bold;color:#003366;' &gt;Fair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#003366;' &gt; value &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Equity instruments &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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spanish companies shares&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:7pt;color:#000000;' &gt;2,181&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:7pt;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:7pt;color:#000000;' &gt;(507)&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:7pt;color:#000000;' &gt;1,674&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:7pt;color:#000000;' &gt;2,172&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:7pt;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:7pt;color:#000000;' &gt;(210)&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:7pt;color:#000000;' &gt;1,962&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Foreign companies shares&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:7pt;color:#000000;' &gt;136&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:7pt;color:#000000;' &gt;87&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:7pt;color:#000000;' &gt;(11)&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:7pt;color:#000000;' &gt;213&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:7pt;color:#000000;' &gt;90&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:7pt;color:#000000;' &gt;43&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:7pt;color:#000000;' &gt;(12)&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:7pt;color:#000000;' &gt;121&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;The United States&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:7pt;color:#000000;' &gt;30&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:7pt;color:#000000;' &gt;47&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:7pt;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:7pt;color:#000000;' &gt;78&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:7pt;color:#000000;' &gt;20&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:7pt;color:#000000;' &gt;17&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:7pt;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:7pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Mexico&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:7pt;color:#000000;' &gt;1&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:7pt;color:#000000;' &gt;33&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:7pt;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:7pt;color:#000000;' &gt;34&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:7pt;color:#000000;' &gt;1&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:7pt;color:#000000;' &gt;25&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:7pt;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:7pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Turkey&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:7pt;color:#000000;' &gt;3&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:7pt;color:#000000;' &gt;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:7pt;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:7pt;color:#000000;' &gt;5&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:7pt;color:#000000;' &gt;3&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:7pt;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:7pt;color:#000000;' &gt;(1)&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:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &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: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:7pt;color:#000000;' &gt;102&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:7pt;color:#000000;' &gt;5&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:7pt;color:#000000;' &gt;(11)&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:7pt;color:#000000;' &gt;96&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:7pt;color:#000000;' &gt;66&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:7pt;color:#000000;' &gt;1&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:7pt;color:#000000;' &gt;(11)&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:7pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal equity instruments listed&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;2,317&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;87&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(518)&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,886&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;2,262&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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(222)&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;2,083&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Equity instruments&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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spanish companies shares&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:7pt;color:#000000;' &gt;5&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:7pt;color:#000000;' &gt;1&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:7pt;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:7pt;color:#000000;' &gt;5&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:7pt;color:#000000;' &gt;6&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:7pt;color:#000000;' &gt;1&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:7pt;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:7pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Foreign companies shares &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:7pt;color:#000000;' &gt;450&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:7pt;color:#000000;' &gt;79&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:7pt;color:#000000;' &gt;(1)&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:7pt;color:#000000;' &gt;528&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:7pt;color:#000000;' &gt;453&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:7pt;color:#000000;' &gt;54&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:7pt;color:#000000;' &gt;(1)&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:7pt;color:#000000;' &gt;506&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;The United States&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:7pt;color:#000000;' &gt;387&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:7pt;color:#000000;' &gt;32&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:7pt;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:7pt;color:#000000;' &gt;419&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:7pt;color:#000000;' &gt;388&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:7pt;color:#000000;' &gt;23&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:7pt;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:7pt;color:#000000;' &gt;411&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Turkey&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:7pt;color:#000000;' &gt;5&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:7pt;color:#000000;' &gt;4&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:7pt;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:7pt;color:#000000;' &gt;9&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:7pt;color:#000000;' &gt;6&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:7pt;color:#000000;' &gt;4&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:7pt;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:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:111pt;' &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: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:7pt;color:#000000;' &gt;57&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:7pt;color:#000000;' &gt;43&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:7pt;color:#000000;' &gt;(1)&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:7pt;color:#000000;' &gt;99&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:7pt;color:#000000;' &gt;59&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:7pt;color:#000000;' &gt;27&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:7pt;color:#000000;' &gt;(1)&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:7pt;color:#000000;' &gt;85&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal unlisted equity instruments&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;454&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;80&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(1)&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;533&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;459&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;55&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(1)&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;513&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:111pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:111pt;' &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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;2,772&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;167&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(519)&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;2,420&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;2,721&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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(223)&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The breakdown of the balance under the heading &amp;quot;Equity instruments&amp;quot; of the accompanying consolidated financial statements as of December 31, 2017 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='6' rowspan='1' style='width:490.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#F2F2F2;border-color:Black;min-width:490.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Available-for-sale financial assets. Equity instruments. December 2017 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &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:8pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;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:63.75pt;' &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:63.75pt;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:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;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:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;gains&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;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:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;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:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Fair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;value &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:middle;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Equity instruments listed&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;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:63.75pt;' &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:63.75pt;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:63.75pt;' &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:63.75pt;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:63.75pt;' &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:63.75pt;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:63.75pt;' &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:63.75pt;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:63.75pt;' &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: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;Spanish companies shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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: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;Foreign companies shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;215&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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: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:#808080;' &gt;United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:13.5pt;' &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:#808080;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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: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:#808080;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:13.5pt;' &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:#808080;' &gt;Other countries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;192&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal equity instruments listed&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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: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:8pt;font-weight:bold;color:#004481;' &gt;Unlisted equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;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:63.75pt;' &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:63.75pt;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:63.75pt;' &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:63.75pt;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:63.75pt;' &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:63.75pt;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:63.75pt;' &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:63.75pt;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:63.75pt;' &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: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;Spanish companies shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:15pt;' &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;Foreign companies shares &lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;665&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;77&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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: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:#808080;' &gt;United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;498&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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: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:#808080;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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: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:#808080;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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: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:#808080;' &gt;Other countries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;151&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal unlisted equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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: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:middle;background-color:#5AC4C4;border-color:Black;min-width:171.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:63.75pt;' &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;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;13.3   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:8pt;margin-left:0pt;' &gt;The breakdown of the balance under the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;heading &amp;#8220;Debt securities&amp;#8221; of the accompanying consolidated financial statements as of December 31, 2019 and 2018, broken down by issuers, 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:8.25pt;' &gt;&lt;td colspan='9' rowspan='1' style='width:519pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:519pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#02A5A5;' &gt;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:8.25pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:192pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:192pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:192pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:192pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:135pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Amortized      cost &lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;gains&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Fair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;value&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Amortized      cost &lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;gains&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Fair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;Domestic debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:18pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Government and other government agency debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;20,740&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;830&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;21,550&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;17,205&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;661&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;17,857&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;959&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;65&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,024&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;793&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;63&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;855&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;907&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;40&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;947&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;804&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;841&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;22,607&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;935&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;23,521&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;18,802&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;761&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;19,553&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;Foreign debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:9pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;7,790&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;7,786&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;6,299&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;(142)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;6,163&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Government and other government agency debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,869&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,868&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,286&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(121)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5,169&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;77&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;34&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;843&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;840&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;978&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;961&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;11,376&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;68&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;(51)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;11,393&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;14,507&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;(217)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;14,338&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Government securities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,570&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,599&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11,227&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;37&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(135)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11,130&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#808080;' &gt;Treasury and other government agencies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;5,595&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;32&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;5,624&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;7,285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;(56)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;7,258&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#808080;' &gt;States and political subdivisions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;2,975&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;2,975&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;3,942&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;(79)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;3,872&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;124&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:9pt;' &gt;&lt;td style='width:135pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,684&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(39)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,670&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,231&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(82)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,158&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;3,752&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;(76)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;3,713&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;4,164&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;(269)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;3,916&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Government and other government agency debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,752&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(76)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,713&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,007&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(256)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,771&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;157&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;145&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;Other countries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;11,870&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;554&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;(106)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;12,318&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;9,551&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;319&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;(130)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#002060;' &gt;9,740&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other foreign governments and other government agency debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6,963&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;383&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(78)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7,269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,510&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;173&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(82)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,601&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,005&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,010&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;987&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;986&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,795&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,892&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,856&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;111&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,947&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,106&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,197&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,206&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal &lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;34,788&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;681&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(259)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;35,210&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;34,521&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;392&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(758)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;34,157&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:135pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;57,395&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,617&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(280)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;58,731&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,153&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(768)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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:10pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The breakdown of the balance under the heading &amp;#8220;Debt securities&amp;#8221; of t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he accompanying consolidated financial statements as of December 31, 2017, broken down by issuers, 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:17.45pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:474pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#F2F2F2;border-color:Black;min-width:474pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Available-for-sale financial assets. December 2017 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:51pt;' &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: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:#072146;' &gt;Amortized       cost&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:#072146;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;gains&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:#072146;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;losses&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:#072146;' &gt;Fair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Domestic debt securities&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:left;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;&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;&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;&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;&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;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Government and other government agency debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:left;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;22,765&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;791&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;(17)&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;23,539&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:left;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;891&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;72&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;962&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;1,061&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;43&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;1,103&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal Spanish debt securities&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:left;vertical-align:middle;background-color:#5AC4C4;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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Foreign debt securities&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:left;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;&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:#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:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;&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;9,755&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;45&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;(142)&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;9,658&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Government and other government agency debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:left;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;8,101&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;34&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;(120)&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;8,015&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:left;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;212&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;1&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;(3)&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;209&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;1,442&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;10&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;(19)&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;1,434&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;&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;12,479&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;36&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;(198)&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;12,317&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;border-top-style:solid;border-top-width:1;text-align:left;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;8,625&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;8&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;(133)&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;8,500&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;Treasury and other government agencies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;text-align:left;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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;3,052&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;(34)&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;3,018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:left;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &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;5,573&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;8&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;(99)&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;5,482&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:left;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;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;1&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;57&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;3,798&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;26&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;(65)&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;3,759&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;&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;5,052&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;48&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;(115)&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;4,985&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Government and other government agency debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:left;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;5,033&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;48&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;(114)&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;4,967&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:left;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;19&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;(1)&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;19&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Other countries&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:left;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;&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;13,271&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;533&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;(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;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;13,687&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17.25pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other foreign governments and other government agency debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-top-style:solid;border-top-width:1;text-align:left;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;6,774&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;325&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;(77)&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;7,022&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:left;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;1,330&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;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;(1)&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;1,331&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:left;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;2,535&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;139&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;(19)&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;2,654&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other issuers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;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;2,632&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;66&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;(19)&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;2,679&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:219pt;' &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:51pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:219pt;' &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:left;vertical-align:middle;background-color:#5AC4C4;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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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:10pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The credit ratings of the issuers of debt securities as of December 31, 2019, 2018, and 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:22.5pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:498.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:498.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Debt securities by rating&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:129.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:123pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:123pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:123pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:123pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:123pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:123pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33.75pt;' &gt;&lt;td style='width:129.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Fair value&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;(Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Fair value&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;(Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Fair value&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;(Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:129.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;AAA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,669&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.2%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;531&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;687&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,279&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12.4%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16.2%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;317&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;222&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;507&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:13.5pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;265&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;409&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;291&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:13.5pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.7%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;632&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;664&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,895&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;687&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;683&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;A-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,947&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18.6%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,946&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16.9%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;53.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,966&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.1%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,927&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.3%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.4%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,712&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.4%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:129.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &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:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;441&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;445&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:13.5pt;' &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:#5AC4C4;border-color:Black;min-width:129.75pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;58,731&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;13.4   Gains/losses&lt;/font&gt;&lt;/p&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:8pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Changes in 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:8pt;margin-left:0pt;' &gt;The changes in the gains/losses (net of taxes) in December 31, 2019 and 2018 of debt securities recognized under the equity heading &amp;#8220;Accumulated other comprehensive income &amp;#8211; Items that may&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; be reclassified to profit or loss &amp;#8211; Fair value changes of debt instruments measured at fair value through other comprehensive income&amp;#8221; and equity instruments recognized under the equity heading &amp;#8220;Accumulated other comprehensive income &amp;#8211; Items &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;that will not &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;be reclassified to profit or loss&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &amp;#8211; Changes in fair value of equity instruments designated 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:12.75pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:506.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:top;background-color:#E9E9E9;border-color:Black;min-width:506.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Other comprehensive income - Changes in gains / losses (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:213.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:117pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:117pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Debt securities &lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:117pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:117pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:213.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;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:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;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:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;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:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;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:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:213.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:213.75pt;' &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:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &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:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;943&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &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;td style='width:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(155)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &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:12.75pt;' &gt;&lt;td style='width:213.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:58.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(58)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &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:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:58.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,267&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(640)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(238)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &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:12.75pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:58.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(119)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(137)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:58.5pt;' &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:12.75pt;' &gt;&lt;td style='width:213.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#004FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(331)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;221&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &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:12.75pt;' &gt;&lt;td style='width:213.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:213.75pt;' &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:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &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:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,760&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;943&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(403)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &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:10pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;In 2019, the debt se&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;curities impaired recognized in the heading &amp;#8220;Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss net gains by modification&amp;#8211; Financial assets at fair value through other comprehensive income&amp;#8221; in the acc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ompanying consolidated income statement amounted to &amp;#8364;83 million (see Note 47) as a result of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;decrease in the rating of debt securities in BBVA Argentina during the last quarter of 2019.&lt;/font&gt;&lt;/p&gt;&lt;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;In 2018, the debt securities impaired recognized in the heading&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &amp;#8220;Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss net gains by modification&amp;#8211; Financial assets at fair value through other comprehensive income&amp;#8221; in the accompanying consolidated income statement amo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;unted to &amp;#8364;1 million (see Note 47).&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:8pt;margin-left:0pt;' &gt;During 2019 and 2018 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;there has been no significant impairment registered in equity instruments under 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:8pt;' &gt;net gains by modification- &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8221; (see Note 47).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofavailableforsalefinancialassetsthroughtothertcomprehensiveincomeexplanatory>
  <bbva:Disclosureofsensitivityanalysis id="ID_10035" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:528pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:528pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:198pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:66pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Basis points change&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:132pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:132pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:132pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:132pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:198pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:198pt;' &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:66pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Decrease&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Decrease&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:198pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:198pt;' &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:66pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(367)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;405&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(298)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &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:12.75pt;' &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:8pt;color:#000000;' &gt;Rate of salary increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &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:12.75pt;' &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:8pt;color:#000000;' &gt;Rate of pension increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#000000;' &gt;Medical cost trend rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;338&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(266)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;229&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(181)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &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:8pt;color:#000000;' &gt;Change in obligation from each additional year of longevity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;137&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;108&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &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;</bbva:Disclosureofsensitivityanalysis>
  <bbva:Disclosureoffinancialassetsatamortisedcost id="ID_10036" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;14.   Financial assets at amortized cost&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;14.1   Breakdown of the balance&lt;/font&gt;&lt;/p&gt;&lt;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;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:23.1pt;' &gt;&lt;td style='width:287.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Financial assets at amortized cost (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.1pt;' &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:#44546A;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;38,877&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;32,530&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;24,093&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:287.25pt;border-top-style:solid;border-top-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;color:#000000;' &gt;Government&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;31,526&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;25,014&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;17,030&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:61.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;719&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;644&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;1,152&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:287.25pt;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;color:#000000;' &gt;Other sectors &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;6,632&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;6,872&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;5,911&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Loans and advances to central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;4,275&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;3,941&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;7,300&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;13,649&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;9,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;26,261&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:287.25pt;border-top-style:solid;border-top-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;color:#000000;' &gt;Reverse repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;1,817&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;478&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;13,861&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:287.25pt;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;color:#000000;' &gt;Other loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;11,832&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;8,685&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;12,400&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;382,360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;374,027&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;387,621&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:287.25pt;border-top-style:solid;border-top-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;color:#000000;' &gt;Government&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,222&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31,645&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:61.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,207&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18,173&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:61.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;166,789&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;164,510&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;176,142&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;173,293&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:middle;background-color:#5AC4C4;border-color:Black;min-width:287.25pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;439,162&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:287.25pt;border-top-style:solid;border-top-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-style:italic;color:#666666;' &gt;Of which: impaired assets of loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;15,954&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;16,349&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;19,390&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: loss allowances of loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;(12,427)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;(12,217)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;(12,784)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: loss allowances of debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;(52)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;(51)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;(15)&lt;/font&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:8pt;margin-left:0pt;' &gt;During financial years 2019 and 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;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;14.2   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;Debt securities&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The breakdown of the balance under the heading &amp;#8220;Debt securities&amp;#8221; 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:12.75pt;' &gt;&lt;td colspan='9' rowspan='1' style='width:602.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:602.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Financial assets at amortized cost. (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-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;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:252pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:252pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:252pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:252pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:28.5pt;' &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;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:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Amortized      cost &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:8pt;font-weight:bold;color:#072146;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;gains&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:8pt;font-weight:bold;color:#072146;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;losses&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:8pt;font-weight:bold;color:#072146;' &gt;Fair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt; value &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:8pt;font-weight:bold;color:#072146;' &gt;Amortized      cost &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:8pt;font-weight:bold;color:#072146;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;gains&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:8pt;font-weight:bold;color:#072146;' &gt;Unrealized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;losses&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:8pt;font-weight:bold;color:#072146;' &gt;Fair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt; value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &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:#004481;' &gt;Domestic 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:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:8pt;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:8pt;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:8pt;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:8pt;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:8pt;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:8pt;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:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-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;Government and other government agencies&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:8pt;color:#000000;' &gt;12,755&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:8pt;color:#000000;' &gt;630&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:8pt;color:#000000;' &gt;(21)&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:8pt;color:#000000;' &gt;13,363&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:8pt;color:#000000;' &gt;10,953&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:8pt;color:#000000;' &gt;458&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:8pt;color:#000000;' &gt;(265)&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:8pt;color:#000000;' &gt;11,146&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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 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:8pt;color:#000000;' &gt;26&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:8pt;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:8pt;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:8pt;color:#000000;' &gt;26&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:8pt;color:#000000;' &gt;53&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:8pt;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:8pt;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:8pt;color:#000000;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Other issuers&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:8pt;color:#000000;' &gt;4,903&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:8pt;color:#000000;' &gt;38&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:8pt;color:#000000;' &gt;(10)&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:8pt;color:#000000;' &gt;4,931&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:8pt;color:#000000;' &gt;5,014&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:8pt;color:#000000;' &gt;41&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:8pt;color:#000000;' &gt;(25)&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:8pt;color:#000000;' &gt;5,030&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;background-color:#5AC4C4;border-color:Black;min-width:98.25pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;17,684&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:#5AC4C4;border-color:Black;min-width:63pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(31)&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;18,320&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16,019&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;499&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(290)&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16,228&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &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:#004481;' &gt;Foreign 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:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:8pt;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:8pt;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:8pt;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:8pt;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:8pt;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:8pt;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: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: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:#004481;' &gt;Mexico&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:8pt;font-weight:bold;color:#004481;' &gt;6,374&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:8pt;font-weight:bold;color:#004481;' &gt;168&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:8pt;font-weight:bold;color:#004481;' &gt;(18)&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:8pt;font-weight:bold;color:#004481;' &gt;6,525&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:8pt;font-weight:bold;color:#004481;' &gt;5,148&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:8pt;font-weight:bold;color:#004481;' &gt;10&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:8pt;font-weight:bold;color:#004481;' &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:8pt;font-weight:bold;color:#004481;' &gt;5,157&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33.75pt;' &gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-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;Government and other government agencies debt securities&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:8pt;color:#000000;' &gt;5,576&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:8pt;color:#000000;' &gt;166&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:8pt;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;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,742&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:8pt;color:#000000;' &gt;4,571&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:8pt;color:#000000;' &gt;9&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:8pt;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;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,579&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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 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:8pt;color:#000000;' &gt;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:8pt;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:8pt;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:8pt;color:#000000;' &gt;529&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:8pt;color:#000000;' &gt;350&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:8pt;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:8pt;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:8pt;color:#000000;' &gt;351&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Other issuers&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:8pt;color:#000000;' &gt;272&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;(18)&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:8pt;color:#000000;' &gt;254&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:8pt;color:#000000;' &gt;227&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;227&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:#004481;' &gt;The United States&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:8pt;font-weight:bold;color:#004481;' &gt;6,125&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:8pt;font-weight:bold;color:#004481;' &gt;111&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:8pt;font-weight:bold;color:#004481;' &gt;(20)&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:8pt;font-weight:bold;color:#004481;' &gt;6,217&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:8pt;font-weight:bold;color:#004481;' &gt;2,559&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:8pt;font-weight:bold;color:#004481;' &gt;15&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:8pt;font-weight:bold;color:#004481;' &gt;(3)&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:8pt;font-weight:bold;color:#004481;' &gt;2,570&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-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;Government securities &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:8pt;color:#000000;' &gt;5,690&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:8pt;color:#000000;' &gt;111&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:8pt;color:#000000;' &gt;(18)&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:8pt;color:#000000;' &gt;5,783&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:8pt;color:#000000;' &gt;2,070&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:8pt;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;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,070&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &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:#808080;' &gt;Treasury and other government agencies&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:8pt;color:#808080;' &gt;1,161&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:8pt;color:#808080;' &gt;50&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:8pt;color:#808080;' &gt;(17)&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:8pt;color:#808080;' &gt;1,193&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:8pt;color:#808080;' &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:8pt;color:#808080;' &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:8pt;color:#808080;' &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:8pt;color:#808080;' &gt;118&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &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:#808080;' &gt;States and political subdivisions &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:8pt;color:#808080;' &gt;4,530&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:8pt;color:#808080;' &gt;61&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:8pt;color:#808080;' &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:8pt;color:#808080;' &gt;4,590&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:8pt;color:#808080;' &gt;1,952&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:8pt;color:#808080;' &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:8pt;color:#808080;' &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:8pt;color:#808080;' &gt;1,952&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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 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:8pt;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:8pt;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:8pt;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:8pt;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:8pt;color:#000000;' &gt;23&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:8pt;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:8pt;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:8pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Other issuers&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:8pt;color:#000000;' &gt;410&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;(1)&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:8pt;color:#000000;' &gt;409&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:8pt;color:#000000;' &gt;466&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:8pt;color:#000000;' &gt;6&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:8pt;color:#000000;' &gt;(1)&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:8pt;color:#000000;' &gt;470&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:#004481;' &gt;Turkey&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:8pt;font-weight:bold;color:#004481;' &gt;4,113&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:8pt;font-weight:bold;color:#004481;' &gt;48&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:8pt;font-weight:bold;color:#004481;' &gt;(65)&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:8pt;font-weight:bold;color:#004481;' &gt;4,097&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:8pt;font-weight:bold;color:#004481;' &gt;4,062&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:8pt;font-weight:bold;color:#004481;' &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:8pt;font-weight:bold;color:#004481;' &gt;(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;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;3,801&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33.75pt;' &gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-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;Government and other government agencies debt securities&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:8pt;color:#000000;' &gt;4,105&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:8pt;color:#000000;' &gt;47&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:8pt;color:#000000;' &gt;(65)&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:8pt;color:#000000;' &gt;4,088&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:8pt;color:#000000;' &gt;4,054&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:8pt;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;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(261)&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:8pt;color:#000000;' &gt;3,793&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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 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:8pt;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:8pt;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:8pt;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:8pt;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:8pt;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:8pt;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:8pt;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:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Other issuers&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:8pt;color:#000000;' &gt;1&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;1&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:8pt;color:#000000;' &gt;1&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:#004481;' &gt;Other countries&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:8pt;font-weight:bold;color:#004481;' &gt;4,581&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:8pt;font-weight:bold;color:#004481;' &gt;82&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:8pt;font-weight:bold;color:#004481;' &gt;(26)&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:8pt;font-weight:bold;color:#004481;' &gt;4,637&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:8pt;font-weight:bold;color:#004481;' &gt;4,741&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:8pt;font-weight:bold;color:#004481;' &gt;32&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:8pt;font-weight:bold;color:#004481;' &gt;(152)&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:8pt;font-weight:bold;color:#004481;' &gt;4,622&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:45pt;' &gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-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;Other foreign governments and other government agency debt securities&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:8pt;color:#000000;' &gt;3,400&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:8pt;color:#000000;' &gt;82&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:8pt;color:#000000;' &gt;(22)&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:8pt;color:#000000;' &gt;3,459&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:8pt;color:#000000;' &gt;3,366&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:8pt;color:#000000;' &gt;27&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:8pt;color:#000000;' &gt;(152)&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:8pt;color:#000000;' &gt;3,242&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Central banks&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:8pt;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:8pt;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:8pt;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:8pt;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:8pt;color:#000000;' &gt;64&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:8pt;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:8pt;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:8pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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 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:8pt;color:#000000;' &gt;135&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:8pt;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:8pt;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:8pt;color:#000000;' &gt;135&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:8pt;color:#000000;' &gt;147&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:8pt;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:8pt;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:8pt;color:#000000;' &gt;147&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Other issuers&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:8pt;color:#000000;' &gt;1,047&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;(4)&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:8pt;color:#000000;' &gt;1,043&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:8pt;color:#000000;' &gt;1,164&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:8pt;color:#000000;' &gt;5&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;1,169&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;background-color:#5AC4C4;border-color:Black;min-width:98.25pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;21,194&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:#5AC4C4;border-color:Black;min-width:63pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(129)&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;21,476&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16,510&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;57&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(416)&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16,150&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;background-color:#5AC4C4;border-color:Black;min-width:98.25pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;38,877&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,077&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(160)&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;39,796&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:#5AC4C4;border-color:Black;min-width:63pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;556&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(706)&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:#5AC4C4;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;32,378&lt;/font&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;As of December 31, 2019 and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2018, the credit ratings of the issuers of debt securities 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:22.5pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:390.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:390.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Debt securities by rating&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;text-align:left;vertical-align:bottom;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:109.5pt;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:109.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:109.5pt;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:109.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:38.25pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Carrying amount&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;(Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Carrying amount&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;(Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;%&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;text-align:left;vertical-align:bottom;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;AAA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:13.5pt;' &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;AA+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,481&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16.7%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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;AA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:13.5pt;' &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;AA-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;713&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.8%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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: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;A+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;607&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:13.5pt;' &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;A&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,806&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43.2%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:13.5pt;' &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:9pt;color:#000000;' &gt;A-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;607&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18.8%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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;BBB+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,715&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42.7%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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;BBB&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;551&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1.4%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:13.5pt;' &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;BBB-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,745&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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;BB+ or below&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,123&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13.2%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13.4%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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;Without rating&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,083&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.8%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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: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:middle;background-color:#5AC4C4;border-color:Black;min-width:171.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;38,877&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;14.3   Loans and advances to 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:9pt;margin-left:0pt;' &gt;The breakdown of the balance under this heading in the accompanying consolidated balance sheets, according to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;' &gt;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:12.75pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:513pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:513pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Loans and advances to customers (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#44546A;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:68.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,050&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &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:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,560&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:68.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,354&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &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:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,835&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:68.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17,276&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &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:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,705&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:68.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &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:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &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:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,642&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Reverse repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,554&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:68.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;332,160&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &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:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;313,336&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,784&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &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:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,989&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:240pt;' &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:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &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:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;382,360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &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:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &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;/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:8pt;margin-left:0pt;' &gt;The following table sets forth a breakdown of the gross carrying amount &amp;quot;Loans and advances to customers&amp;quot; with maturity greater than one year by fixed and variable rate as of December 31, 2019:&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='4' rowspan='1' style='width:430.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:430.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;&amp;#39;Interest sensitivity of outstanding loans and advances maturing in more than one year (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:91.5pt;' &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:12pt;' &gt;&lt;td style='width:156pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Domestic&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Foreign&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fixed rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55,920&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;68,915&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;124,835&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Variable rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;79,329&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;97,765&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;177,095&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:156pt;' &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:91.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;135,249&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;166,680&lt;/font&gt;&lt;/td&gt;&lt;td style='width:91.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;301,929&lt;/font&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:8pt;margin-left:0pt;' &gt;As of December 31, 2019, 2018 and 2017, 41%, 38% and 38%, respectively, of &amp;quot;Loans and advances to customers&amp;quot; with maturity greater than one year have fixed-interest rates and 59%, 62% and 62%, respectively, have variable interest r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ates.&lt;/font&gt;&lt;/p&gt;&lt;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;The heading &amp;#8220;Financial 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-cove&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;red 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:8pt;margin-left:0pt;' &gt;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:&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: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:8pt;color:#02A5A5;' &gt;Securitized loans (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:245.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:245.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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:#072146;' &gt;2019&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:#072146;' &gt;2018&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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:245.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:245.25pt;' &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: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;26,169&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;26,556&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;28,950&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:245.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:245.25pt;' &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: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;4,249&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;3,221&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;4,143&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:245.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:245.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total securitized assets&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;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;30,418&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;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &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:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureoffinancialassetsatamortisedcost>
  <bbva:Tableofdefinedbenefitplansbygeography id="ID_10037" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:#02A5A5;' &gt;Post-employment commitments  2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:213.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:266.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Defined benefit obligation&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30pt;' &gt;&lt;td style='width:213.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:213.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:213.75pt;' &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:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &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:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;512&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;326&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;422&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:213.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Current service cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &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:9pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Interest income or expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &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:9pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Contributions by plan participants&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &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:9pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Past service costs &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:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;190&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &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:9pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Remeasurements:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;298&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;99&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &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:9pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;From changes in demographic assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &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:9pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;From changes in financial assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;239&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(41)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &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:9pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other actuarial gain and losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &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:9pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Benefit payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(766)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(50)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(14)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Effect on changes in foreign exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;32&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(44)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &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:9pt;' &gt;&lt;td style='width:213.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &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:9pt;' &gt;&lt;td style='width:213.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:213.75pt;' &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:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,592&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;664&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;375&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;444&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;460&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:213.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which: Vested benefit obligation relating to current employees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#787878;' &gt;86&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#A6A6A6;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#A6A6A6;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#A6A6A6;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#A6A6A6;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which: Vested benefit obligation relating to retired employees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#787878;' &gt;4506&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#A6A6A6;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#A6A6A6;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#A6A6A6;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#A6A6A6;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofdefinedbenefitplansbygeography>
  <bbva:DisclosureOfDefinedObligationsPlanAssets id="ID_10038" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:468.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:468.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Post-employment commitments  2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:266.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:202.5pt;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:202.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Plan assets&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:266.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &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:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:266.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:266.25pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;260&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;441&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;287&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;339&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;366&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Interest income or expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Contributions by plan participants&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Employer contributions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Remeasurements:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Return on plan assets &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:9pt;color:#0066CC;' &gt;(2)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Benefit payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(64)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(50)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Business combinations and disposals&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Effect on changes in foreign exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(34)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &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:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:266.25pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;266&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;592&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;323&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;359&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;422&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:DisclosureOfDefinedObligationsPlanAssets>
  <bbva:TableOfDefinedBenefitCommitments id="ID_10039" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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:521.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:521.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#02A5A5;' &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:161.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:180pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:180pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2018: Net liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:180pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:180pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2017: Net liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:161.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &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:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;5,122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &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:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;36&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;5,799&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(59)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;99&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:161.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Current service cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Interest income or expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;73&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Contributions by plan participants&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Employer contributions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(16)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Past service costs (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;148&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;235&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Remeasurements:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;88&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(67)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &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:9pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Return on plan assets (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;70&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(101)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;From changes in demographic assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;From changes in financial assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(45)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;81&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Other actuarial gain and losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(32)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;32&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Benefit payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(763)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(842)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Effect on changes in foreign exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Conversions to defined contributions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(82)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &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:161.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other  effects&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &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:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;4,547&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;36&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;5,122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &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:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;36&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:TableOfDefinedBenefitCommitments>
  <bbva:Disclosureofestimatedbenefitpayments id="ID_10040" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:477.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:477.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:center;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: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:#072146;' &gt;2020&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:#072146;' &gt;2021&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:#072146;' &gt;2022&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:#072146;' &gt;2023&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:#072146;' &gt;2024&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:#072146;' &gt;2025-2029&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:56.25pt;border-top-style:solid;border-top-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;621&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;544&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;border-top-style:solid;border-top-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;449&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;border-top-style:solid;border-top-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;288&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;903&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: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;106&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;110&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;117&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;125&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;132&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;808&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 the United States&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;17&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;18&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;19&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;19&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;20&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;107&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: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;20&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;22&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;18&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;22&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;25&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;200&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:#5AC4C4;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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;764&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;694&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;603&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;526&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;465&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofestimatedbenefitpayments>
  <bbva:TableOfInvestmentsInListedMarkets id="ID_10041" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:771pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:771pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Investments in listed markets&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30pt;' &gt;&lt;td style='width:334.5pt;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:334.5pt;' &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:145.5pt;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:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;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:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;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:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:334.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:334.5pt;' &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:145.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;68&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:334.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:334.5pt;' &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:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &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:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,080&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,178&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:334.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:334.5pt;' &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:145.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &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:334.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:334.5pt;' &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:145.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,727&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:145.5pt;' &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;td style='width:145.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,247&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:334.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:334.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which: Bank account in BBVA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:334.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:334.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which: Debt securities issued by BBVA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &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:Creditriskexposurebystagesandcounterparty id="ID_10042" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12.75pt;' &gt;&lt;td colspan='13' rowspan='1' style='width:736.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:736.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;December 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:213pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:213pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Gross exposure&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:213pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:213pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Accumulated allowances&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:213pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:213pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Net amount&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:97.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:97.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Public administrations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;28,281&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27,511&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;682&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;88&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(59)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;28,222&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27,496&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;660&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;66&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:97.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11,239&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11,085&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;136&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(31)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11,207&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11,066&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &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:12.75pt;' &gt;&lt;td style='width:97.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;173,254&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;148,768&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;16,018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8,468&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6,465)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(811)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(904)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4,750)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;166,789&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;147,957&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15,114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,718&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:97.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Individuals&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;181,989&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;158,085&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;16,523&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7,381&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5,847)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,283)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,252)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3,312)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;176,142&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;156,801&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15,272&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,069&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &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:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;394,763&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;345,449&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;33,360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;15,954&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(12,402)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(2,129)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(2,181)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(8,093)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;382,360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;343,320&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;31,179&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;7,861&lt;/font&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='13' rowspan='1' style='width:774.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:774.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;December 2018 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:99.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:99.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' 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:7pt;font-weight:bold;color:#004481;' &gt;Gross exposure&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' 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:7pt;font-weight:bold;color:#004481;' &gt;Accumulated allowances&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' 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:7pt;font-weight:bold;color:#004481;' &gt;Net amount&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:99.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:99.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:center;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Total&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:center;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 1&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:center;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 2&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:center;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 3&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:center;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Total&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:center;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 1&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:center;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 2&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:center;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 3&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:center;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Total&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:center;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 1&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:center;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 2&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:center;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:99.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:99.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Public administrations&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,632&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27,740&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;764&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;border-top-style:solid;border-top-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;(84)&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;border-top-style:solid;border-top-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;(25)&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(38)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;border-top-style:solid;border-top-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;28,549&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27,719&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;739&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:Black;min-width:56.25pt;' &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:12.75pt;' &gt;&lt;td style='width:99.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:99.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other financial corporations&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;9,490&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;9,189&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;291&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;11&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)&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;(13)&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)&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)&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;9,468&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;9,176&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;286&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&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:99.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:99.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Non-financial corporations&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;169,764&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;145,875&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;15,516&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;8,372&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;(6,260)&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;(730)&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;(1,190)&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;(4,341)&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;163,503&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;145,145&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;14,327&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;4,031&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:99.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:99.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Individuals&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;178,339&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;156,400&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;14,102&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;7,838&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;(5,833)&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;(1,305)&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;(1,155)&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;(3,372)&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;172,506&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;155,094&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;12,946&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;4,466&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:99.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:99.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Loans and advances to customers&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;386,225&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;339,204&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;30,673&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16,348&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(12,199)&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(2,070)&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(2,374)&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(7,755)&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;337,134&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;28,299&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,593&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Creditriskexposurebystagesandcounterparty>
  <bbva:Disclosureofhedgingderivativesandfairvaluechangesofthehedgeditemsinportfoliohedgeofinterestrateriskexplanatory id="ID_10043" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;15.   Hedging derivatives and fair value changes of the hedged items in portfolio hedges of 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:8pt;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:12.75pt;' &gt;&lt;td colspan='5' 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:7pt;color:#02A5A5;' &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:12.75pt;' &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:7pt;font-weight:bold;color:#44546A;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#44546A;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:#5AC4C4;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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;tr style='height:11.25pt;' &gt;&lt;td style='width:276.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Derivatives - Hedge accounting&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,729&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:21pt;' &gt;&lt;td style='width:276.75pt;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: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:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:12pt;' &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:#5AC4C4;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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;tr style='height:12.75pt;' &gt;&lt;td style='width:276.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,233&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,880&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(7)&lt;/font&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;As of December 31, 2019, 2018 and 2017, the main positions hedged by the Group and the derivatives designated to hedge those positions were:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Fair value hedging:&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='display:flex;margin-left:35.45pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:56.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Fixed-interest debt securities at fair value through other compreh&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ensive income 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;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:35.45pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:56.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Long-term fixed-interest debt securities issued by the Bank: the interest rate risk of these&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; securities is hedged using interest rate derivatives (fixed-variable swaps).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:35.45pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:56.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Fixed-interest loans: The equity price risk of these instruments is hedged using interest rate derivatives (fixed-variable swaps).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:35.45pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:56.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Fixed-interest and/or embedded derivative depos&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;it 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 &amp;quot;Fair value changes of the hedged items in portfolio hedges of interest rat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e risk&amp;#8221;.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &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 fair value through other comprehensive income portfolio. This risk is hedged using foreign-exchange, in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;terest-rate swaps, inflation and FRA&amp;#8217;s (&amp;#8220;Forward Rate Agreement&amp;#8221;).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Net foreign-currency investment hedges: These hedged risks are foreign-currency investments in the Group&amp;#8217;s foreign subsidiaries. This risk is hedged mainly with foreign-exchange options and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; forward currency sales and purchases.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;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:8pt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;balance sheets are as follows:&lt;/font&gt;&lt;/p&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='7' rowspan='1' style='width:477.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:477.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#5AC4C4;' &gt;Derivatives - Hedge accounting 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:12.6pt;' &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:10pt;color:#000000;' &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;2019&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;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;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;&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;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:#004481;' &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:#004481;' &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:#004481;' &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:#004481;' &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:#004481;' &gt;Liabilities&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Interest rate&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;920&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;488&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;982&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;513&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;1,141&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;850&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;OTC &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;920&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;488&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;982&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;513&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;1,141&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;850&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Equity&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;-&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;3&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;6&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;-&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;-&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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;OTC &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;3&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;6&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;-&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;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Foreign exchange and gold&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;420&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;316&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;587&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;398&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;625&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;511&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;OTC&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;420&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;316&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;587&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;398&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;625&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;511&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;FAIR VALUE HEDGES&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;1,341&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;808&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;1,575&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;912&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;1,766&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;1,362&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Interest rate&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;224&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;850&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;221&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;562&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;244&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;533&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;OTC &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;224&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;839&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;219&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;562&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;242&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;533&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Organized market&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;11&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&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;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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Foreign exchange and gold&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;115&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;18&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;955&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;873&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;119&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;714&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;OTC &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;115&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&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;955&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;873&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;119&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;714&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;CASH FLOW HEDGES&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;339&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;868&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;1,176&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;1,435&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;363&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;1,247&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;HEDGE OF NET INVESTMENTS IN A FOREIGN OPERATION&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;12&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;242&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;92&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;231&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;301&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;15&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:left;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;PORTFOLIO FAIR VALUE HEDGES OF INTEREST RATE RISK&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;37&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;216&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;33&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;90&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;46&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;256&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27.75pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;PORTFOLIO CASH FLOW HEDGES OF INTEREST RATE RISK&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;1&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;99&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;15&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;12&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;9&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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17.25pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;DERIVATIVES-HEDGE ACCOUNTING&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;1,729&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;2,233&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;2,892&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;2,680&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;2,485&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;2,880&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;font-style:italic;color:#666666;' &gt;of which: OTC - credit institutions&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;font-style:italic;color:#000000;' &gt;1,423&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;font-style:italic;color:#000000;' &gt;1,787&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;font-style:italic;color:#000000;' &gt;2,534&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;font-style:italic;color:#000000;' &gt;2,462&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;font-style:italic;color:#000000;' &gt;1,829&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;font-style:italic;color:#000000;' &gt;2,527&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &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;font-style:italic;color:#666666;' &gt;of which: OTC - other financial corporations&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;font-style:italic;color:#000000;' &gt;306&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;font-style:italic;color:#000000;' &gt;426&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;font-style:italic;color:#000000;' &gt;355&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;font-style:italic;color:#000000;' &gt;216&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;font-style:italic;color:#000000;' &gt;651&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;font-style:italic;color:#000000;' &gt;234&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;font-style:italic;color:#666666;' &gt;of which: OTC - other&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;font-style:italic;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;font-style:italic;color:#000000;' &gt;8&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;font-style:italic;color:#000000;' &gt;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;font-style:italic;color:#000000;' &gt;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;font-style:italic;color:#000000;' &gt;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;font-style:italic;color:#000000;' &gt;120&lt;/font&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;The cash flows forecasts for the coming years for cash flow hedging recognized on the accompanying consolidated balance sheet as of December 31, 2019 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:493.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:493.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:182.25pt;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:182.25pt;' &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: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:8pt;font-weight:bold;color:#072146;' &gt;3 months or less&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:8pt;font-weight:bold;color:#072146;' &gt;From 3 months to 1 year&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:8pt;font-weight:bold;color:#072146;' &gt;From 1 to 5 years&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:8pt;font-weight:bold;color:#072146;' &gt;More than 5 years&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:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:182.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &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: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:8pt;color:#000000;' &gt;447&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:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;488&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:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,076&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:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,061&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:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,071&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:182.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &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:62.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:62.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;395&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:8pt;color:#000000;' &gt;411&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:8pt;color:#000000;' &gt;2,223&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:8pt;color:#000000;' &gt;2,003&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:8pt;color:#000000;' &gt;5,032&lt;/font&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:8pt;margin-left:0pt;' &gt;The above cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; will have an impact on the Group&amp;#8217;s consolidated income statements until 2057.&lt;/font&gt;&lt;/p&gt;&lt;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;In 2019, 2018 and 2017, there was no reclassification in the accompanying consolidated income statements of any amount corresponding to cash flow hedges that was previously reco&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;gnized 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:8pt;margin-left:0pt;' &gt;The amount for derivatives designated as accounting hedges that did not pass the effectiveness test in December 31, 2019, 2018 and 2017 were not material.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofhedgingderivativesandfairvaluechangesofthehedgeditemsinportfoliohedgeofinterestrateriskexplanatory>
  <bbva:Disclosureofinvestmentsinsubsidiariesjointventuresandassociatesexplanatory id="ID_10044" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;16.   Investments in joint ventures and associates&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;16.1   Joint ventures and associates&lt;/font&gt;&lt;/p&gt;&lt;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;The breakdown of the balance of &amp;#8220;Investments in joint ventures and associates&amp;#8221; in the accompanying consolidated balance sheets is&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:467.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:467.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Joint ventures and associates. Breakdown by entities (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.9pt;' &gt;&lt;td style='width:271.5pt;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:271.5pt;' &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: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:#072146;' &gt;2019&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:#072146;' &gt;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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:271.5pt;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:271.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Joint ventures&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:#000000;' &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:#000000;' &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:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:271.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:271.5pt;' &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:65.25pt;border-top-style:solid;border-top-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;73&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:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;69&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-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;64&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:271.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:271.5pt;' &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: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;37&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;32&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;19&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:271.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:271.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Desarrollo Metropolitanos del Sur, S.L.&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;14&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&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&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:271.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:271.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;30&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;59&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;160&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:271.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:271.5pt;' &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: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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;154&lt;/font&gt;&lt;/td&gt;&lt;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:#5AC4C4;border-color:Black;min-width:65.25pt;' &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: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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;256&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:271.5pt;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:271.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Associates&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:#000000;' &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:#000000;' &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:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:271.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:271.5pt;' &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:65.25pt;border-top-style:solid;border-top-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;630&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: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;border-top-style:solid;border-top-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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:271.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:271.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Metrovacesa, S.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;443&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;508&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;697&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:271.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:271.5pt;' &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: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;136&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;138&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;66&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:271.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:271.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Solarisbank AG&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;36&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;37&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:12.75pt;' &gt;&lt;td style='width:271.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:271.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Cofides&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;23&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;22&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;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:271.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:271.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Redsys servicios de procesamiento, S.L.&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;14&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&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&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:271.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:271.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Servicios Electr&amp;#243;nicos Globales S.A. de CV&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;11&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;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;6&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:271.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:271.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;41&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;88&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;533&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:271.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:271.5pt;' &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: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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,334&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:#5AC4C4;border-color:Black;min-width:65.25pt;' &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: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:#5AC4C4;border-color:Black;min-width:65.25pt;' &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;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:271.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:271.5pt;' &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: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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,488&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:#5AC4C4;border-color:Black;min-width:65.25pt;' &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: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:#5AC4C4;border-color:Black;min-width:65.25pt;' &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;/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;Details of the joint ventures and associates as of December 31,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 2019 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:8pt;margin-left:0pt;' &gt;The following is a summary of the changes in the in December 31, 2019, 2018 and 2017 under this heading in the accompanying &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:471.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:471.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Joint ventures and associates. Changes in the year (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.9pt;' &gt;&lt;td style='width:255.75pt;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:255.75pt;' &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:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:255.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:255.75pt;' &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:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &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:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &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:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &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:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &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;tr style='height:12pt;' &gt;&lt;td style='width:255.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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:54pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;161&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;309&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;868&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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:54pt;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(149)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(516)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &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:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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:54pt;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(27)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;211&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &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:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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:54pt;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(42)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &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:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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:54pt;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &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:255.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(43)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &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:12pt;' &gt;&lt;td style='width:255.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:255.75pt;' &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:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &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:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,488&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &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:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &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;/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:8pt;margin-left:0pt;' &gt;The variation during the year 2017 was mainly explained by the increase of BBVA Group stakes in Testa Residencial, S.A. and Metrovacesa Suelo y Promoci&amp;#243;n, S.A. through its contribution to the capital incr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;eases 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:8pt;margin-left:0pt;' &gt;The variation during the year 2018 was mainly explained by the decrease of BBVA Group stakes in Testa Residencial, S.A., Metrovacesa Suelo y Promoci&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#243;n, S.A. and the contribution of assets and subsequent sale to Cerberus of 80% of the capital stake in 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:8pt;margin-left:0pt;' &gt;During the year 2019, there was no significant change in the heading &amp;#8220;Investment in joint vent&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ures and associates&amp;#8221;&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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 Act and article 53 of the Securities Market Act 24/1988.&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;16.2   Other information about 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:8pt;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 and the consolidated income statement would not be sig&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nificant.&lt;/font&gt;&lt;/p&gt;&lt;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;As of December 31, 2019, 2018 and 2017 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 (se&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e 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:8pt;margin-left:0pt;' &gt;As of December 31, 2019, 2018 and 2017 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;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;16.3   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:8pt;margin-left:0pt;' &gt;As described in IAS 36, when there is indicator of impairment, t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he 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, 2019, 2018 and 201&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;7, there were no significant impairments recognized.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofinvestmentsinsubsidiariesjointventuresandassociatesexplanatory>
  <bbva:Disclosureoftangibleassetsexplanatory id="ID_10045" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;17.   Tangible 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:8pt;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:22.5pt;' &gt;&lt;td colspan='11' rowspan='1' style='width:693pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:693pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Tangible assets: Breakdown by type of assets and changes in the year 2019. (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:182.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:166.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:111pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:111pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Right to use asset&lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:5.05pt;font-weight:bold;color:#072146;' &gt;(*)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Investment properties&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Assets leased out under an operating lease&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &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:182.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:55.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:55.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Land and buildings&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:55.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Work in progress&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:55.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Furniture, fixtures and vehicles&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Own use&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Investment properties&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:11.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:182.25pt;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:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Cost &lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &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:11.25pt;' &gt;&lt;td style='width:182.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:182.25pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:11.25pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:11.25pt;' &gt;&lt;td style='width:182.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;63&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;335&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,574&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;101&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,175&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:182.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(44)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(302)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(57)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &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:11.25pt;' &gt;&lt;td style='width:182.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(41)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(51)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &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:11.25pt;' &gt;&lt;td style='width:182.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &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:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;57&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(49)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:182.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:182.25pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,001&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,351&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:11.25pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,516&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;101&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;337&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16,578&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:182.25pt;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:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &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:11.25pt;' &gt;&lt;td style='width:182.25pt;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:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Accrued depreciation &lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:11.25pt;' &gt;&lt;td style='width:182.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:182.25pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:11.25pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:11.25pt;' &gt;&lt;td style='width:182.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;126&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;457&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;381&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;979&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:182.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(38)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(255)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(296)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:182.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(16)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &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:11.25pt;' &gt;&lt;td style='width:182.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &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:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(57)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &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:11.25pt;' &gt;&lt;td style='width:182.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:182.25pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,253&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,344&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:11.25pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;370&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;74&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,067&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:182.25pt;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:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &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:11.25pt;' &gt;&lt;td style='width:182.25pt;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:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Impairment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:11.25pt;' &gt;&lt;td style='width:182.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:182.25pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:11.25pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:11.25pt;' &gt;&lt;td style='width:182.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;94&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:182.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &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:182.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(16)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;127&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &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:11.25pt;' &gt;&lt;td style='width:182.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &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:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:182.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:182.25pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;212&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:11.25pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &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:55.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;443&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:182.25pt;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:182.25pt;' &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:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:13.5pt;' &gt;&lt;td style='width:182.25pt;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:182.25pt;' &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:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:13.5pt;' &gt;&lt;td style='width:182.25pt;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:182.25pt;' &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:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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:55.5pt;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:55.5pt;' &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;tr style='height:13.5pt;' &gt;&lt;td style='width:182.25pt;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:182.25pt;' &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:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;4,536&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;2,007&lt;/font&gt;&lt;/td&gt;&lt;td style='width:11.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:11.25pt;' &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:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;2,955&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;175&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;263&lt;/font&gt;&lt;/td&gt;&lt;td style='width:55.5pt;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:55.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;10,068&lt;/font&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:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:35.45pt;' &gt;(*)   The right to use is included at the date of implementation of IFRS 16 as of January 1, 2019.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;The right to use asset consists mainly of the rental of commercial real estate premises for central services and the network branches located in the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;countries where the Group operates whose average term is between 5 and 20 years. The clauses included in rental contracts correspond to a large extent to rental contracts under normal market conditions in the country where the property is rented (see Note &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;2.3). During 2019, there have been no significant changes in the right to use assets for leases.&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='9' rowspan='1' style='width:467.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:467.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:12.75pt;' &gt;&lt;td style='width:161.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:114.75pt;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:114.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;For own use&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Total tangible asset of own use&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Investment properties&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Assets leased out under an operating lease&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &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:161.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:38.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Land and buildings&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Work in progress&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &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:161.25pt;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:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Cost &lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:13.5pt;' &gt;&lt;td style='width:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:161.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;445&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;404&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;927&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:10.5pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(98)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(492)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(607)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(149)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:10.5pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(177)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(125)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:10.5pt;' &gt;&lt;td style='width:161.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(48)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(214)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(224)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(105)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:13.5pt;' &gt;&lt;td style='width:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:10.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:13.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Accrued depreciation &lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:13.5pt;' &gt;&lt;td style='width:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:161.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;469&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;589&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:10.5pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(36)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(403)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(439)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:10.5pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:38.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:10.5pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(31)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(53)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:10.5pt;' &gt;&lt;td style='width:161.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(212)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(200)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:13.5pt;' &gt;&lt;td style='width:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:10.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:13.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Impairment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:13.5pt;' &gt;&lt;td style='width:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:10.5pt;' &gt;&lt;td style='width:161.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:10.5pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(27)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:10.5pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(77)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(77)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:10.5pt;' &gt;&lt;td style='width:161.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(51)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(51)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:38.25pt;' &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:13.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:13.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:13.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:13.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:38.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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:38.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:38.25pt;' &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: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:#02A5A5;' &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:161.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:119.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-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;font-weight:bold;color:#072146;' &gt;For own use&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Total tangible asset of own use&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Investment properties&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Assets leased out under an operating lease&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &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:161.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:39.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Land and buildings&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Work in progress&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:39.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &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:161.25pt;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:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Cost &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: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;&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;&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;&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;&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;&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;&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;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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:161.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;49&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:8pt;color:#000000;' &gt;128&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:8pt;color:#000000;' &gt;397&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:8pt;color:#000000;' &gt;574&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:8pt;color:#000000;' &gt;1&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:8pt;color:#000000;' &gt;201&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: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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;(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:8pt;color:#000000;' &gt;(29)&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:8pt;color:#000000;' &gt;(264)&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:8pt;color:#000000;' &gt;(335)&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:8pt;color:#000000;' &gt;(90)&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:8pt;color:#000000;' &gt;(93)&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: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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:39.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;(552)&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: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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;(273)&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:8pt;color:#000000;' &gt;(57)&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:8pt;color:#000000;' &gt;(186)&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:8pt;color:#000000;' &gt;(516)&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:8pt;color:#000000;' &gt;(698)&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:8pt;color:#000000;' &gt;-&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: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:161.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:39.75pt;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;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:8pt;color:#000000;' &gt;(420)&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:8pt;color:#000000;' &gt;(48)&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:8pt;color:#000000;' &gt;(378)&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:8pt;color:#000000;' &gt;(844)&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:8pt;color:#000000;' &gt;(148)&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:8pt;color:#000000;' &gt;(22)&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: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:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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:161.25pt;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:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &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;color:#094FA4;' &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;color:#FFFFFF;' &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;color:#FFFFFF;' &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;color:#FFFFFF;' &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;color:#FFFFFF;' &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;color:#FFFFFF;' &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;color:#FFFFFF;' &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;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Accrued depreciation &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: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;&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;&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;&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;&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;&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;&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;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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:161.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;45&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:8pt;color:#000000;' &gt;127&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;553&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:8pt;color:#000000;' &gt;680&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:8pt;color:#000000;' &gt;13&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:8pt;color:#000000;' &gt;-&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: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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;(26)&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;(235)&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:8pt;color:#000000;' &gt;(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:8pt;color:#000000;' &gt;(7)&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:8pt;color:#000000;' &gt;(21)&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: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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:39.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;(134)&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: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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;(53)&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;(146)&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:8pt;color:#000000;' &gt;(199)&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:8pt;color:#000000;' &gt;(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:8pt;color:#000000;' &gt;-&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: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:161.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:39.75pt;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;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:8pt;color:#000000;' &gt;(88)&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:8pt;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:8pt;color:#000000;' &gt;(253)&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:8pt;color:#000000;' &gt;(341)&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:8pt;color:#000000;' &gt;(25)&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:8pt;color:#000000;' &gt;16&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: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:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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:161.25pt;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:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#094FA4;' &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;color:#094FA4;' &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;color:#FFFFFF;' &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;color:#FFFFFF;' &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;color:#FFFFFF;' &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;color:#FFFFFF;' &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;color:#FFFFFF;' &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;color:#FFFFFF;' &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;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Impairment &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: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;&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;&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;&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;&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;&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;&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;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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:161.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;48&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:8pt;color:#000000;' &gt;5&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;5&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:8pt;color:#000000;' &gt;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:8pt;color:#000000;' &gt;-&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: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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retirements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;(2)&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;(2)&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:8pt;color:#000000;' &gt;(10)&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:39.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;(10)&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:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Transfers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:39.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:39.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;(58)&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;-&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:8pt;color:#000000;' &gt;(58)&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:8pt;color:#000000;' &gt;(276)&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:8pt;color:#000000;' &gt;-&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: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:161.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:39.75pt;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;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:8pt;color:#000000;' &gt;(9)&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:8pt;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:8pt;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:8pt;color:#000000;' &gt;(9)&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:8pt;color:#000000;' &gt;(140)&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:8pt;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: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:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:39.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:39.75pt;' &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:161.25pt;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:161.25pt;' &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: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: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;&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;&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;&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;&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;&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;&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;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &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: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: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;4,681&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;240&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;2,598&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;7,519&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;691&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;732&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;8,941&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &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: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: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;4,099&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;234&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;2,248&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;6,581&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;195&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;415&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;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;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;As of December 31, 2019, 2018 and 2017, the cost of fully amortized tangible assets that remained in use w&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ere &amp;#8364;2,658 &amp;#8364;2,624 and &amp;#8364;2,660 million respectively while its recoverable residual value was not significant.&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:8pt;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 Decem&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ber 31, 2019, 2018 and 2017:&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: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:#02A5A5;' &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: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:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &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:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:276.75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;BBVA and Spanish subsidiaries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,865&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,574&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:276.75pt;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;color:#000000;' &gt;Foreign subsidiaries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,203&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,617&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:#5AC4C4;border-color:Black;min-width:276.75pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;10,068&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureoftangibleassetsexplanatory>
  <ifrs-full:DisclosureOfFinancialRiskManagementExplanatory id="ID_10046" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;7.   Risk management&lt;/font&gt;&lt;/p&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.1   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:8pt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;cause a fina&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ncial 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:8pt;margin-left:0pt;' &gt;The&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; general&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; principles &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;governing&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; credit risk management in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;BBVA &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Group &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;are:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; taken &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;should&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; comply with the general risk policy established by the Board of Directors of BBVA.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; taken &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;should&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; be in line with the level of equity and generation of recurring revenue of the BBVA Group prioritizing &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;risk diversification and avoiding relevant concentrations.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; taken &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;should&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; be identified, measured and assessed and there should be management and mo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nitoring procedures, in addition to sound mitigation and control mechanisms.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s&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;should&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; be managed in a prudent and integrated manner during their life cycle and their treatment should be based on the type of risk. In addition, portfolios should be activ&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ely managed on the basis of a common metric (economic capital).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; main criterion when granting credit risks is the capability of the borrower &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;or obligor to fulfill on a timely basis all financial obligations with its business income&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; or source of income without depending upon guarantors, bondsmen or pledged asse&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;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.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;At &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Group level: frameworks for action and standard rules of conduct are defined for handling risk, specifically, the channels, procedures, structure and supervision.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;At the business area level: they are responsible for adapting the Group&amp;#39;s criteria to the loc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;al realities of each geographical area and for direct management of risk according to the decision-making channel:&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:54pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:72pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Retail risks: in general, the decisions are formalized according to the scoring tools, within the general framework for action of each busine&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ss 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;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:54pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:72pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Wholesale risks: in general, the decisions are formalized by each business area within its general framework for action with regard to r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;isks, which incorporates the delegation rule and the Group&amp;#39;s corporate policies.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;The risk function has a decision-making process supported by a structure of committees with a solid governance scheme, which describes their purposes and functioning for a pro&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;per performance of their tasks.&lt;/font&gt;&lt;/p&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:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.1.1   Measurement Expected Credit Loss (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:8pt;margin-left:0pt;' &gt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;margin-left:0pt;' &gt;Therefore the recognition and measurement of expected credit losses (ECL) is highly complex and involves the use of significant analysis and estimation including formulatio&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n 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:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;color:#004580;' &gt;Risk Parameters Adjusted 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:8pt;margin-left:0pt;' &gt;Expected Credit Loss must include forward looking information, in accordance with IFRS 9, which states that the comprehensive credit ri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sk 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;margin-left:0pt;' &gt;BBVA&amp;#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:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Step 1: Analysis and transformation&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of time series data.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Step 2: For each dependent variable find conditional forecasting models that are economically consistent.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Step 3: Select the best conditional forecasting model from the set of candidates defined in Step 2, based on their forecasting &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;capacity&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/span&gt;&lt;/p&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:8pt;margin-left:0pt;color:#004580;' &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:8pt;margin-left:0pt;' &gt;The forward looking component is added&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; to the calculation of the ECL&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; through the introduction of macroeconomic scen&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;arios as an input. Inputs &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;highly depend on the particular combination of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;region and portfolio, so inputs are adapted to available data&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; regarding each of them&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Based on economic theory and analysis, the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;main &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;indicators&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; most directly relevant for explaining and forecasting the selected risk parameters (PD, LGD&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and EAD&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;) are:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;net income of families, corporates or public administrations.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;outstanding &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;payment amounts on the principal and interest on the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;financial instruments&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The value of the collateral assets pledge to the loan.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;BBVA Group approximates these variables by &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;using a proxy indicator from the set included in the macroeconomic scenarios 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:8pt;margin-left:0pt;' &gt;Only a single specific indicator for each of the three categories can be used and only &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;one of the following &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;core macroeconomic indica&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tor&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;hould be chosen as first option&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;T&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he real GDP g&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rowth for the purpose of conditional forecasting can be seen as the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;only&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &amp;#8220;factor&amp;#8221; required for capturing the influence of all potentially relevant macro-financial scenarios on internal PDs and LGD.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;T&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he most representative short term interest rate (typically the policy rate or the most liquid sovereign yield or interbank rate) or exchange rates expressed in real &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;terms&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;A&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; comprehensive&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and representative&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; index of the price of real estate properties expressed in real terms in the case of mortgage loans and a representative &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and real term &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;index of the price of the relevant commodity for corporate loan portfolios concentrated in exporters or producer of such commodity.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;Real GDP growth is given priority over &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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.&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:8pt;margin-left:0pt;color:#004580;' &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:8pt;margin-left:0pt;' &gt;IFRS 9 requires &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;calculating an unbiased probability weighted measurement 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:8pt;margin-left:0pt;' &gt;The BBVA Research teams within the BBVA Group produce forecasts of th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e macroeconomic variables under the baseline scenario, which are used in the rest of the related processes of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;B&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ank, 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:8pt;margin-left:0pt;' &gt;Additionally, the BBVA Research teams produced alternative sc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;enarios to the baseline scenario so as to meet the requirements under the IFRS 9 standard.&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:8pt;margin-left:0pt;color:#004580;' &gt;Alternative macroeconomic scenarios&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;For each of the macro-financial variables, BBVA Research produces three scenarios.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;BBVA Research &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tracks&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, analy&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;z&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;es and forecasts the economic environment to provide a consistent forward looking assessment about the most likely scenario and risks that &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;impact&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; BBVA&amp;#8217;s footprint. To build economic scenarios, BBVA Research combines official data, econometric techniques an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d expert knowledge.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The non-linearity overlay is defined as the ratio between the probabi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lity-weighted ECL under the alternative scenarios and the baseline scenario, where the scenario&amp;#8217;s probability depends on the distance of the alternative scenarios from the base one.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;BBVA Group establishes equally weighted scenarios, being the probability 3&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;4% for&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; baseline scenario, 33% for &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the worst alternative scenario&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and 33% for &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the best alternative&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; scenario.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;BBVA Group considers three prospective macroeconomic scenarios which are updated periodically &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;(currently every three months)&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;BBVA Research &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;projects&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; a maximum of five years for the macro&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;economic variables. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The estimation for the next five years of the GDP used in the estimation of the measurement of expected credit loss as&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; D&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ecember 31, 2019 is as follows:&lt;/font&gt;&lt;/p&gt;&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;GDP for the main geographies:&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='13' rowspan='1' style='width:528.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;background-color:#E9E9E9;border-color:Black;min-width:528.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#02A5A5;' &gt;GDP for the main geographies&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:24.75pt;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:24.75pt;' &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:126pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:126pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:126pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:126pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:126pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:126pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:126pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:126pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:24.75pt;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:24.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Date&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP negative scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP base scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP positive scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP negative scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP base scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP positive scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP negative scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP base scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP positive scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP negative scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP base scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP positive scenario&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:24.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:24.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;0.96%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.54%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.15%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-0.58%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;0.23%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.06%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-0.60%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.32%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7.06%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.16%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.12%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.13%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:24.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:24.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.35%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.87%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.42%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;0.93%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.66%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.39%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-0.68%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.48%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &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:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.81%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.62%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:24.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:24.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.01%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.10%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.19%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.05%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.14%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.23%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.60%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.74%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.91%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.84%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.92%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.03%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:24.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:24.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2022&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.85%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.89%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.88%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.07%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.14%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.19%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.28%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.38%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.47%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.83%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.86%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.91%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:24.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:24.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2023&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.81%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.85%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.85%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.11%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.15%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.17%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.31%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.38%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.50%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.88%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.91%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:42pt;text-align:right;vertical-align:middle;border-color:Black;min-width:42pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.94%&lt;/font&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 style='width:24.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:24.75pt;' &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:164.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:164.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Peru&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:164.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:164.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Argentina&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:164.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:164.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Colombia&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:24.75pt;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:24.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Date&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP negative scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP base scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP positive scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP negative scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP base scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP positive scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP negative scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP base scenario&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;GDP positive scenario&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:24.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:24.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;0.34%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.92%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5.43%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-7.41%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-2.47%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.40%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.93%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.29%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.58%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:24.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:24.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;0.32%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.46%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.56%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-6.62%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-2.57%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;0.85%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.71%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.73%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.74%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:24.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:24.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.07%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.28%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.49%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.08%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.30%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.51%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.61%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.61%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.61%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:24.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:24.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2022&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.39%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.39%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.39%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.64%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.78%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.88%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.59%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.59%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.59%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:24.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:24.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2023&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.86%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.86%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.86%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.95%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.10%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.23%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.59%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.59%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.59%&lt;/font&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;The approach in BBVA consists on using the scenario that is the most likely scenario, which is the baseline scenario, consistent with the rest&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of internal processes (ICAAP, B&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;udgeting&amp;#8230;) and then applying &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;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. It is possib&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;le 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;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.1.2   Credit risk 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:8pt;margin-left:0pt;' &gt;In acc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ordance with IFRS 7 &amp;#8220;Financial i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nstru&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ments: Disclosures&amp;#8221;, the BBVA Group&amp;#8217;s credit risk exposure by headings in the balance sheets&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, 2019 and 2018 is provided below. It does not consider &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the loss allowances and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the availability of collateral or other credit enhancements to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;enable compliance with payment obligations. The details are broken down by financial instruments and counterparties&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:12pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:723pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:723pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &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:370.5pt;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:370.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;December 2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Stage 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Financial assets held for trading &lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;69,503&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;26,309&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:370.5pt;' &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:70.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8,892&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;34,303&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:18.75pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Non-trading financial assets mandatorily at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;5,557&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:370.5pt;' &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:70.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;110&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,327&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:18.75pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Financial assets designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;1,214&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Derivatives (trading and hedging) &lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;39,462&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:18.75pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;61,293&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;58,841&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;58,590&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;250&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:370.5pt;' &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:70.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,420&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Financial assets at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;451,640&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;402,024&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;33,624&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;15,993&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:370.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:370.5pt;' &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:70.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13,664&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13,500&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;158&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:370.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:370.5pt;' &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:70.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;394,763&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;345,449&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;33,360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15,954&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:370.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;38,930&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;38,790&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;106&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Total financial assets risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;628,670&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Total loan commitments and financial guarantees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;181,116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;169,663&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;10,452&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;1,001&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:370.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;809,786&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:723pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:723pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &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:370.5pt;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:370.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;December 2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Financial assets held for trading &lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;59,581&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:370.5pt;' &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:70.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:18pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Non-trading financial assets mandatorily at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;5,135&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:370.5pt;' &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:70.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;237&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:25.5pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Financial assets designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;1,313&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Derivatives (trading and hedging) &lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;38,249&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:23.25pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;56,365&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:370.5pt;' &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:70.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Financial assets at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;431,927&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;384,632&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;30,902&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;16,394&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:370.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:370.5pt;' &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:70.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;34&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:370.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:370.5pt;' &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:70.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:370.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;195&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Total financial assets risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;592,571&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &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:10.5pt;' &gt;&lt;td style='width:370.5pt;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:370.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Total loan commitments and financial guarantees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;170,511&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;161,404&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;8,120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;987&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:370.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;background-color:#5AC4C4;border-color:Black;min-width:370.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;763,082&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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:justify;margin-top:10pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The maximum credit exposure presented in the table above is determined by type of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;financial asset as explained below:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;In the case of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;financial&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; instruments&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; recognized in the consolidated balance sheets, exposure to credit risk is considered equal to its carrying amount (not including loss allowances)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; with the only exception of trading and hedging derivatives.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The maximum credit risk exposure on financial &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;commitments and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;guarantees granted is the maximum that the Group would be liable for if these guarantees were called in, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;or the higher amount pending to be disposed from the customer in the case of commitments.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The calculation of risk exposure for derivatives is based on the sum of two factors: the derivatives fair value and their potential risk (or &amp;quot;add-on&amp;quot;).&lt;/font&gt;&lt;/span&gt;&lt;/p&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:8pt;margin-left:14.2pt;color:#000000;' &gt;The breakdown by geographical location and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; Stage of the maximum credit risk exposure, the accumulated allowances recorded and the carrying amount of the loans and advances to customers as of December 31, 2019 and 2018 is shown below:&lt;/font&gt;&lt;/p&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='13' rowspan='1' style='width:907.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:907.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;December 2019&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:124.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:124.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Gross exposure&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Accumulated allowances&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Carrying amount&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:124.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:124.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#072146;' &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:center;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:center;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 1&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:center;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 2&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:center;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 3&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:center;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:center;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 1&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:center;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 2&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:center;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 3&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:center;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:center;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 1&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:center;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 2&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:center;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:124.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:124.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Spain (*)&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:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;197,058&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:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;173,843&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:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14,599&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:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8,616&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:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5,311)&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:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(712)&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:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(661)&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:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3,939)&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:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;191,747&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:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;173,131&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:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13,939&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:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,677&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:124.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:124.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;The United States&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:7pt;color:#000000;' &gt;57,387&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:7pt;color:#000000;' &gt;49,744&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:7pt;color:#000000;' &gt;7,011&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:7pt;color:#000000;' &gt;632&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:7pt;color:#000000;' &gt;(688)&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:7pt;color:#000000;' &gt;(165)&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:7pt;color:#000000;' &gt;(342)&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:7pt;color:#000000;' &gt;(182)&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:7pt;color:#000000;' &gt;56,699&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:7pt;color:#000000;' &gt;49,580&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:7pt;color:#000000;' &gt;6,670&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:7pt;color:#000000;' &gt;450&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:124.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:124.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Mexico&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:7pt;color:#000000;' &gt;60,099&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:7pt;color:#000000;' &gt;54,748&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:7pt;color:#000000;' &gt;3,873&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:7pt;color:#000000;' &gt;1,478&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:7pt;color:#000000;' &gt;(2,013)&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:7pt;color:#000000;' &gt;(697)&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:7pt;color:#000000;' &gt;(404)&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:7pt;color:#000000;' &gt;(912)&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:7pt;color:#000000;' &gt;58,087&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:7pt;color:#000000;' &gt;54,052&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:7pt;color:#000000;' &gt;3,469&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:7pt;color:#000000;' &gt;566&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:124.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:124.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Turkey (**)&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:7pt;color:#000000;' &gt;43,113&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:7pt;color:#000000;' &gt;34,536&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:7pt;color:#000000;' &gt;5,127&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:7pt;color:#000000;' &gt;3,451&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:7pt;color:#000000;' &gt;(2,613)&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:7pt;color:#000000;' &gt;(189)&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:7pt;color:#000000;' &gt;(450)&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:7pt;color:#000000;' &gt;(1,974)&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:7pt;color:#000000;' &gt;40,500&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:7pt;color:#000000;' &gt;34,347&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:7pt;color:#000000;' &gt;4,677&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:7pt;color:#000000;' &gt;1,477&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:124.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:124.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;South America (***)&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:7pt;color:#000000;' &gt;36,265&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:7pt;color:#000000;' &gt;31,754&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:7pt;color:#000000;' &gt;2,742&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:7pt;color:#000000;' &gt;1,769&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:7pt;color:#000000;' &gt;(1,769)&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:7pt;color:#000000;' &gt;(366)&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:7pt;color:#000000;' &gt;(323)&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:7pt;color:#000000;' &gt;(1,079)&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:7pt;color:#000000;' &gt;34,497&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:7pt;color:#000000;' &gt;31,388&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:7pt;color:#000000;' &gt;2,419&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:7pt;color:#000000;' &gt;690&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:124.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:124.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Others &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:7pt;color:#000000;' &gt;839&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:7pt;color:#000000;' &gt;824&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:7pt;color:#000000;' &gt;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:7pt;color:#000000;' &gt;9&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:7pt;color:#000000;' &gt;(8)&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:7pt;color:#000000;' &gt;(1)&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:7pt;color:#000000;' &gt;(1)&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:7pt;color:#000000;' &gt;(6)&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:7pt;color:#000000;' &gt;832&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:7pt;color:#000000;' &gt;823&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:7pt;color:#000000;' &gt;6&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:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:124.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:124.5pt;' &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: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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;394,763&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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;345,449&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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;33,360&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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;15,954&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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(12,402)&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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(2,129)&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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(2,181)&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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(8,093)&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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;382,360&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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;343,320&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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;31,179&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:#5AC4C4;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;7,861&lt;/font&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:0pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:6.5pt;margin-left:0pt;' &gt;(&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;*)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;    &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Spain includes &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;all countries where BBVA, S.A. operates.&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:6pt;margin-left:0pt;' &gt;(**)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Turkey includes all countries in which Garanti BBVA operates.&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:6pt;margin-left:0pt;' &gt;(***)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;In South America, BBVA Group operates in Argentina,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Colombia, Peru, Uruguay and Venezuela.&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:6pt;margin-left:0pt;' &gt;(****)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;The amount of the accumulated impairment includes the provisions recorded for credit risk over the remaining expected lifetime of purchased financial instruments. Those provisions were determined at the moment of the Purchase Price Allocation and were originated mainly in the acquisition of Catalunya Banc S.A. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;(as of December 31, 2019, the remain&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;ed&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; balance was &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;433&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; million). These valuation adjustments are recognized in the income statement during the residual life of the operations or are applied to the value correctio&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;ns when the losses materialize.&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='13' rowspan='1' style='width:663.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:663.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;December 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:87.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:192pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:192pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Gross exposure&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:192pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:192pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Accumulated allowances&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:192pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:192pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Carrying amount&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:87.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:87.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Spain (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;195,447&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;172,599&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12,827&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10,021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5,874)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(713)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(877)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(4,284)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;189,574&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;171,886&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11,951&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,737&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:87.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;57,321&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;50,665&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,923&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;733&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(658)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(206)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(299)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(153)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;56,663&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;50,459&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,624&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;580&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:87.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;52,858&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;48,354&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,366&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,138&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,750)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(640)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(373)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(737)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;51,107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;47,714&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,992&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;401&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:87.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Turkey (**)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;43,718&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;34,883&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6,113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,722&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2,241)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(171)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(591)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,479)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;41,479&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;34,712&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,523&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,244&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:87.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;South America (***)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;36,098&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;31,947&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,436&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,715&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,656)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(338)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(234)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,084)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;34,442&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;31,609&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,202&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;631&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:87.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Others &lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;783&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;756&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;763&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;755&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48pt;' &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:12.75pt;' &gt;&lt;td style='width:87.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:87.75pt;' &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:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;386,225&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;339,204&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;30,673&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;16,348&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(12,199)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(2,070)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(2,374)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;(7,755)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;374,027&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;337,134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;28,299&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;8,593&lt;/font&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:0pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:6.5pt;margin-left:0pt;' &gt;(&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;*)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;    &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Spain includes all countries where BBVA, S.A. operates.&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:6pt;margin-left:0pt;' &gt;(**)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Turkey includes all countries in which Garanti BBVA operates.&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:6pt;margin-left:0pt;' &gt;(***)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;In South America, BBVA Group&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; operates in Argentina, Chile, Colombia, Peru, Uruguay and Venezuela.&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:6pt;margin-left:0pt;' &gt;(****)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;The amount of the accumulated impairment includes the provisions recorded for credit risk over the remaining expected lifetime of purchased financial instruments. Those provisions&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; were determined at the moment of the Purchase Price Allocation and were originated mainly in the acquisition of Catalunya Banc S.A. (as of December 31, 2018 the remained balance was &amp;#8364;540 million). &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;These valuation adjustments are recognized in the income statement during the residual life of the operations or are applied to the value corrections when the losses materialize.&lt;/font&gt;&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:8pt;margin-left:0pt;' &gt;The breakdown by counterparty of the maximum credit risk exposure, the accumulated allowances recorded, as well as the carrying amount &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;by stages of loans and advances to customers as of December &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;31, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2019 and 2018 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='13' rowspan='1' style='width:736.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:736.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;December 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:97.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:213pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:213pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Gross exposure&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:213pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:213pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Accumulated allowances&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:213pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:213pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Net amount&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:97.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:97.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Public administrations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;28,281&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27,511&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;682&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;88&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(59)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;28,222&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27,496&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;660&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;66&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:97.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11,239&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11,085&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;136&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(31)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11,207&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11,066&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &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:12.75pt;' &gt;&lt;td style='width:97.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;173,254&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;148,768&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;16,018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8,468&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6,465)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(811)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(904)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4,750)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;166,789&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;147,957&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15,114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,718&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:97.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Individuals&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;181,989&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;158,085&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;16,523&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7,381&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5,847)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,283)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,252)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3,312)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;176,142&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;156,801&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15,272&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,069&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &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:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;394,763&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;345,449&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;33,360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;15,954&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(12,402)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(2,129)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(2,181)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(8,093)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;382,360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;343,320&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;31,179&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;7,861&lt;/font&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='13' rowspan='1' style='width:774.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:774.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;December 2018 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:99.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:99.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' 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:7pt;font-weight:bold;color:#004481;' &gt;Gross exposure&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' 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:7pt;font-weight:bold;color:#004481;' &gt;Accumulated allowances&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' 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:7pt;font-weight:bold;color:#004481;' &gt;Net amount&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:99.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:99.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:center;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Total&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:center;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 1&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:center;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 2&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:center;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 3&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:center;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Total&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:center;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 1&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:center;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 2&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:center;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 3&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:center;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Total&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:center;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 1&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:center;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;font-style:italic;color:#004481;' &gt;Stage 2&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:center;vertical-align:middle;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:99.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:99.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Public administrations&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,632&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27,740&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;764&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;border-top-style:solid;border-top-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;(84)&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;border-top-style:solid;border-top-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;(25)&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(38)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;border-top-style:solid;border-top-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;28,549&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27,719&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;739&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:Black;min-width:56.25pt;' &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:12.75pt;' &gt;&lt;td style='width:99.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:99.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other financial corporations&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;9,490&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;9,189&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;291&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;11&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)&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;(13)&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)&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)&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;9,468&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;9,176&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;286&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&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:99.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:99.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Non-financial corporations&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;169,764&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;145,875&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;15,516&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;8,372&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;(6,260)&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;(730)&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;(1,190)&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;(4,341)&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;163,503&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;145,145&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;14,327&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;4,031&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:99.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:99.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Individuals&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;178,339&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;156,400&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;14,102&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;7,838&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;(5,833)&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;(1,305)&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;(1,155)&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;(3,372)&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;172,506&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;155,094&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;12,946&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;4,466&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:99.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:99.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Loans and advances to customers&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;386,225&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;339,204&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;30,673&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16,348&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(12,199)&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(2,070)&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(2,374)&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(7,755)&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;337,134&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;28,299&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,593&lt;/font&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:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The breakdown by counterparty and product of loans and advances, net of loss allowances, as well &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;as the gross carrying amount by type of product, classified in different headings of the assets, as of December 31, 2019, 2018 and 2017 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:9pt;' &gt;&lt;td colspan='9' rowspan='1' style='width:750pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:750pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#02A5A5;' &gt;December 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &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;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Households&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Gross carrying amount&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:198pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#808080;' &gt;By product&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;color:#000000;' &gt;On demand and short notice&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;118&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;2,328&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;595&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;3,050&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;3,251&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;color:#000000;' &gt;Credit card debt&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1,940&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;14,401&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;16,355&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;17,608&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;color:#000000;' &gt;Commercial debtors&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;971&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;230&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;15,976&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;99&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;17,276&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;17,617&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;color:#000000;' &gt;Finance leases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;227&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;8,091&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;387&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;8,711&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;9,095&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;color:#000000;' &gt;Reverse repurchase loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1,817&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1,843&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1,848&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;color:#000000;' &gt;Other term loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;4,240&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;26,734&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;4,121&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;7,795&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;137,934&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;160,223&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;341,047&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;351,230&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;color:#000000;' &gt;Advances that are not loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;865&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;7,743&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;3,056&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;951&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;506&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;13,156&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;13,214&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:#5AC4C4;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;LOANS AND ADVANCES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;4,275&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;28,816&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;13,682&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;11,208&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;167,246&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;176,211&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;401,438&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;413,863&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:198pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#808080;' &gt;By secured loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;font-style:italic;color:#808080;' &gt;Of which: mortgage loans collateralized by immovable property&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1,067&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;261&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;23,575&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;111,085&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;136,003&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;139,317&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;font-style:italic;color:#808080;' &gt;Of which: other collateralized loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;10,447&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;93&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;2,106&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;29,009&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;6,893&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;48,548&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;49,266&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;color:#808080;' &gt;By purpose of the loan&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;font-style:italic;color:#808080;' &gt;Of which: credit for consumption&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;46,356&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;46,356&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;49,474&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;font-style:italic;color:#808080;' &gt;Of which: lending for house purchase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;110,178&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;110,178&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;111,636&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;color:#808080;' &gt;By subordination&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:5pt;font-style:italic;color:#808080;' &gt;Of which: project finance loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;12,259&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;12,259&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;12,415&lt;/font&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:755.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:755.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#02A5A5;' &gt;December 2018 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:29.25pt;' &gt;&lt;td style='width:203.25pt;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:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Central banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Households&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Gross carrying amount&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:203.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#808080;' &gt;By product&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;On demand and short notice&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;151&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;2,833&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;648&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;3,641&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;3,834&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Credit card debt&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;2,328&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;13,108&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;15,446&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;16,495&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Commercial debtors&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;948&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;195&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;16,190&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;103&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;17,436&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;17,716&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Finance leases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;226&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;8,014&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;406&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;8,650&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;9,077&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Reverse repurchase loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;293&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;477&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;770&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;772&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Other term loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;3,911&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;26,839&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;2,947&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;7,030&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;133,573&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;157,760&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;332,060&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;342,264&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:203.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Advances that are not loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1,592&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;5,771&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;2,088&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;984&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;498&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;10,962&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;11,025&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:203.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;LOANS AND ADVANCES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;3,941&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;29,917&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;9,196&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;9,468&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;163,922&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;172,522&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;388,966&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;401,183&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:203.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#808080;' &gt;By secured loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#808080;' &gt;Of which: mortgage loans collateralized by immovable property&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;1,056&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;219&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;26,784&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;111,809&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;139,883&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;144,005&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#808080;' &gt;Of which: other collateralized loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;7,179&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;1,389&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;31,393&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;6,835&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;47,081&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;47,855&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#808080;' &gt;By purpose of the loan&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#808080;' &gt;Of which: credit for consumption&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;40,124&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;40,124&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;42,736&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#808080;' &gt;Of which: lending for house purchase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;111,007&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;111,007&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;112,952&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#808080;' &gt;By subordination&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#808080;' &gt;Of which: project finance loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;13,973&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;13,973&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &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:712.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:712.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#02A5A5;' &gt;December 2017 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30pt;' &gt;&lt;td style='width:208.5pt;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:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:right;vertical-align:middle;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Central banks&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:5pt;font-weight:bold;color:#072146;' &gt;General governments&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:5pt;font-weight:bold;color:#072146;' &gt;Credit institutions&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:5pt;font-weight:bold;color:#072146;' &gt;Other financial corporations&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:5pt;font-weight:bold;color:#072146;' &gt;Non-financial corporations&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:5pt;font-weight:bold;color:#072146;' &gt;Households&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:5pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:208.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;On demand and short notice&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:5pt;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:5pt;color:#000000;' &gt;222&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:5pt;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:5pt;color:#000000;' &gt;270&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:5pt;color:#000000;' &gt;7,663&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:5pt;color:#000000;' &gt;2,405&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:5pt;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:208.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Credit card debt&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:5pt;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:5pt;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:5pt;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:5pt;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:5pt;color:#000000;' &gt;1,862&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:5pt;color:#000000;' &gt;13,964&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:5pt;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:208.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Trade receivables&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:5pt;color:#000000;' &gt;1,624&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:5pt;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:5pt;color:#000000;' &gt;497&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:5pt;color:#000000;' &gt;20,385&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:5pt;color:#000000;' &gt;198&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:5pt;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:208.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Finance leases&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:5pt;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:5pt;color:#000000;' &gt;205&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:5pt;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:5pt;color:#000000;' &gt;36&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:5pt;color:#000000;' &gt;8,040&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:5pt;color:#000000;' &gt;361&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:5pt;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:208.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Reverse repurchase loans&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:5pt;color:#000000;' &gt;305&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:5pt;color:#000000;' &gt;1,290&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:5pt;color:#000000;' &gt;13,793&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:5pt;color:#000000;' &gt;10,912&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:5pt;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:5pt;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:5pt;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:208.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Other term loans&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:5pt;color:#000000;' &gt;6,993&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:5pt;color:#000000;' &gt;26,983&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:5pt;color:#000000;' &gt;4,463&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:5pt;color:#000000;' &gt;5,763&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:5pt;color:#000000;' &gt;125,228&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:5pt;color:#000000;' &gt;155,418&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:5pt;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:208.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Advances that are not loans&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:5pt;color:#000000;' &gt;2&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:5pt;color:#000000;' &gt;1,964&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:5pt;color:#000000;' &gt;8,005&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:5pt;color:#000000;' &gt;1,044&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:5pt;color:#000000;' &gt;1,459&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:5pt;color:#000000;' &gt;522&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:5pt;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:208.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &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;background-color:#5AC4C4;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;7,301&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:#5AC4C4;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;32,294&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:#5AC4C4;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;26,261&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:#5AC4C4;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;18,525&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:#5AC4C4;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;164,637&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:#5AC4C4;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#FFFFFF;' &gt;172,868&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:#5AC4C4;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:208.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:72pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &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:5pt;font-style:italic;color:#666666;' &gt;998&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:5pt;font-style:italic;color:#666666;' &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:5pt;font-style:italic;color:#666666;' &gt;308&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:5pt;font-style:italic;color:#666666;' &gt;37,353&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:5pt;font-style:italic;color:#666666;' &gt;116,938&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:5pt;font-style:italic;color:#666666;' &gt;155,597&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#808080;' &gt;Of which: other collateralized loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &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:5pt;font-style:italic;color:#666666;' &gt;7,167&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:5pt;font-style:italic;color:#666666;' &gt;13,501&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:5pt;font-style:italic;color:#666666;' &gt;12,907&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:5pt;font-style:italic;color:#666666;' &gt;24,100&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:5pt;font-style:italic;color:#666666;' &gt;9,092&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:5pt;font-style:italic;color:#666666;' &gt;66,767&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#808080;' &gt;Of which: credit for consumption&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &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:5pt;font-style:italic;color:#666666;' &gt;40,705&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:5pt;font-style:italic;color:#666666;' &gt;40,705&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#808080;' &gt;Of which: lending for house purchase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &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:5pt;font-style:italic;color:#666666;' &gt;114,709&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:5pt;font-style:italic;color:#666666;' &gt;114,709&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.1pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#808080;' &gt;Of which: project finance loans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &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:5pt;font-style:italic;color:#666666;' &gt;16,412&lt;/font&gt;&lt;/td&gt;&lt;td style='width:72pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:72pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#666666;' &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:5pt;font-style:italic;color:#666666;' &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;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.1.3   Mitigation of credit &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;risk, collateralized credit risk and other credit enhancements&lt;/font&gt;&lt;/p&gt;&lt;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;In most cases, maximum credit risk 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e debtor&amp;#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.&lt;/font&gt;&lt;/p&gt;&lt;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;The policy of accepting risks is therefore organized into three different levels in the BBVA Grou&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;p:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Analysis of the financial risk of the transaction, based on the debtor&amp;#8217;s capacity for repayment or generation of funds.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The constitution of guarantees that are adequate, or at any rate generally accepted, for the risk assumed, in any of the generally ac&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;cepted forms: monetary, secured, personal or hedge guarantees; and finally&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;A&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ssessment of the repayment risk (asset liquidity) of the guarantees received.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;This is carried out through a prudent risk policy that consists &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the analysis of the financial risk, based on the capacity f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;or&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; reimbursement or generation of resources of the borrower, the analysis of the guarantee&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; assessing, among others, the efficiency, the robustness and the risk, the adequacy of the guarantee with&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the operation and other aspects such as the location, currency, concentration or the existence of limitations. Additionally, the necessary tasks for the constitution of guarantees must be carried out - in any of the generally accepted forms (collaterals, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;personal guarantees and financial hedge instruments) - appropriate to the risk assumed.&lt;/font&gt;&lt;/p&gt;&lt;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;The procedures for the management and valuation of collateral ar&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e set out in the corporate p&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;olicies (retail and wholesale), which establish the basic principles for cre&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;dit risk management, including the management of collaterals assigned in transactions with customers.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; The criteria for the systematic, standardized and effective treatment of collateral in credit transaction procedures in BBVA Group&amp;#8217;s wholesale and retail banking are included in the Specific Collateral Rules.&lt;/font&gt;&lt;/p&gt;&lt;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;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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:8pt;margin-left:0pt;' &gt;The following is a description of the main types of collateral for&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; each financial instrument class:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Debt &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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;font style='font-family:Arial;font-size:8pt;' &gt; (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;mainly &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;guarantees&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of the issuer&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Derivatives and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 guarantee&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s and collaterals, depending on counterparty solvency and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the nature of the transaction (mainly collaterals).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The summary of the compensation effect (via netting and collateral) for derivatives and securities operations is presented in Note 7.2.2.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Other fi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nancial 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the structure of the instrument (mainly personal guarantees).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;A&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;December 31, 2019&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, BBVA Group had no credit risk exposure of impaired financial assets at fair value through other comprehensive income (see Note 7.1.2).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Financial assets at amortized cost:&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;nd advances to credit institutions: These usually have the counterparty&amp;#8217;s personal guarantee&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; or pledged securities in the case of repos.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and advances to customers: Most of these loans and advances are backed by personal guarantees extended by the cus&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;tomer. 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; or insurances&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt securities: The guarantees or &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;credit enhancements obtained directly from the issuer or counterparty are inherent to the structure of the instrument.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Financial &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;guarantees&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, other contingent risks and drawable by third parties: these have the counterparty&amp;#8217;s personal guarantee&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; or other types of collaterals&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;The disclosure of impaired loans and advances at amortized cost covered by collateral (see Note 7.1.2), by type of collateral, as of December 31, 2019&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, is the following:&lt;/font&gt;&lt;/p&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:497.25pt;border-bottom-style:solid;border-bottom-width:1;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:8pt;color:#02A5A5;' &gt;December 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Maximum exposure to credit risk&lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:288.75pt;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:288.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Of which secured by collateral&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.25pt;' &gt;&lt;td style='width:150.75pt;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:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Residential properties&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Commercial properties&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Cash&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Others&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Financial&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150.75pt;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:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Impaired loans and advances at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,959&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,396&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;939&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;221&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;542&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:150.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:150.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;15,959&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,396&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;939&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;221&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;542&lt;/font&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:10.5pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:528.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:528.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:182.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Maximum exposure to credit risk&lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:288.75pt;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:288.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Of which secured by collateral&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.25pt;' &gt;&lt;td style='width:182.25pt;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;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Residential properties&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Commercial properties&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Cash&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Others&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7.5pt;font-weight:bold;color:#072146;' &gt;Financial&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:182.25pt;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:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Impaired loans and advances at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,359&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,484&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,255&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;317&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;502&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:182.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:182.25pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,484&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,255&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;317&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:6pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;color:#000000;' &gt;The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;value of guarantees received &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;as of December 31, 2019&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; and 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;, 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:12.75pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:389.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:389.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Guarantees received (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;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:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;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:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Value of collateral&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;152,454 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;158,268 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: guarantees normal risks under special monitoring&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;14,623 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;14,087 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: guarantees non-performing risks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;4,590 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;5,068 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;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:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Value of other guarantees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;35,464 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;16,897 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: guarantees normal risks under special monitoring&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;3,306 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;1,519 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: guarantees non-performing risks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;542 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;502 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total value of guarantees received&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;187,918 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;175,165 &lt;/font&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:8pt;margin-left:0pt;color:#000000;' &gt;The maximum credit risk exposure of impaired financial guarantees and other commitments at December 31, 2019 and 2018 amounts to &amp;#8364;1,001 and &amp;#8364;987 mil&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;lion, respectively (see Note 7.1.2).&lt;/font&gt;&lt;/p&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:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.1.4   Credit quality of financial assets that are neither past due nor 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:8pt;margin-left:0pt;' &gt;The BBVA Group has tools that enable it to rank the credit quality of its transactions and customers based on an assessment and its &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;correspondence with the probability 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 togeth&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;er into scoring and rating 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:8pt;margin-left:0pt;color:#004580;' &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:8pt;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 origi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nate 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 requeste&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d 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 i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s needed is a series of objective data for each customer, and this data is analyzed automatically using an algorithm.&lt;/font&gt;&lt;/p&gt;&lt;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;There are three types of scoring, based on the information used and on its purpose:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Reactive scoring: measures the risk of a transaction r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;equested by an individual 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;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Behavioral scoring: scores t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ransactions for a given product 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 th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;at refer to the behavior of both the product and the customer.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Proactive scoring: 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. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The purpose is to track the customer&amp;#8217;s credit quality and it is used to pre-approve new transactions.&lt;/font&gt;&lt;/span&gt;&lt;/p&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:8pt;margin-left:0pt;color:#004580;' &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:8pt;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, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;general governments, etc. 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, quant&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;itative factors, and on the 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:8pt;margin-left:0pt;' &gt;The main difference between ratings and scorings is that the latter are used to assess retail products, while rating&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s 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 bu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;siness criterion compared 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:8pt;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, Stand&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ard &amp;amp; Poor&amp;#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.&lt;/font&gt;&lt;/p&gt;&lt;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;Once the prob&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ability of default of a transaction 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 informat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ion 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&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:8pt;margin-left:0pt;' &gt;The table below shows the abri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;dged scale used to classify the BBVA Group&amp;#8217;s outstanding risk as of December 31, 2019:&lt;/font&gt;&lt;/p&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:129.75pt;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:129.75pt;' &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: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;Internal rating&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:258.75pt;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:258.75pt;' &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;(basic points)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &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:center;vertical-align:middle;border-color:Black;min-width:129.75pt;' &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: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;Reduced List (22 groups)&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;Average&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;Minimum from &amp;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;Maximum &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:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AAA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;border-top-style:solid;border-top-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;color:#000000;' &gt;AAA&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;1&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;0&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;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA+&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&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&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&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA&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&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&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;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;AA-&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;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;5&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A+&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&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&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;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A&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;8&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;9&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A-&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;10&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;9&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;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB+&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;14&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;17&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB&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&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&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;24&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBB-&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;24&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;39&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BB+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BB+&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;51&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;39&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;67&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BB&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BB&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;88&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;67&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;116&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BB-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BB-&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;150&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;116&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;194&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;B+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;B+&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;255&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;194&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;335&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;B&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;B&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;335&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;581&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;B-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;B-&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;785&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;581&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;1,061&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CCC+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CCC+&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;1,191&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;1,061&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;1,336&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CCC&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CCC&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;1,500&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;1,336&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;1,684&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CCC-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CCC-&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;1,890&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;1,684&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;2,121&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CC+&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CC+&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;2,381&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;2,121&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;2,673&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CC&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CC&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;3,000&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;2,673&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;3,367&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:129.75pt;text-align:center;vertical-align:bottom;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CC-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:86.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;CC-&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;3,780&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;3,367&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;4,243&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:3pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the external agencies Standard &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 secti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ons/Master Rating Scale levels) 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:8pt;margin-left:0pt;' &gt;The table below outlines &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the distribution by probability of default within 12 months and stages of the gross carrying amount of loans and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; advances to customers in percentage &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;terms &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;BBVA Group as of December 31, 2019 and 2018&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:9pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:491.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:491.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;Probability of default (basis points)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &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:7pt;font-weight:bold;color:#072146;' &gt;December 2019&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:7pt;font-weight:bold;color:#072146;' &gt;December 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27.75pt;' &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:7pt;color:#072146;' &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:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Subject to 12 month ECL (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6.8pt;font-weight:bold;font-style:italic;color:#072146;' &gt;Stage&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt; 1)&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:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Subject to lifetime ECL (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6.8pt;font-weight:bold;font-style:italic;color:#072146;' &gt;Stage&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt; 2)&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:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Subject to 12 month ECL (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;font-style:italic;color:#072146;' &gt;Stage&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt; 1)&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:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Subject to lifetime ECL &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;(&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;font-style:italic;color:#072146;' &gt;Stage&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt; 2)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:98.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0 to 2&lt;/font&gt;&lt;/td&gt;&lt;td 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:7pt;color:#000000;' &gt;5.5 &lt;/font&gt;&lt;/td&gt;&lt;td 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:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td 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:7pt;color:#000000;' &gt;9.6 &lt;/font&gt;&lt;/td&gt;&lt;td 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:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:98.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2 to 5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6.3 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10.8 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.1 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:98.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5 to 11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14.6 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.2 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6.3 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &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:98.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11 to 39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;24.5 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.8 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;20.9 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.4 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:98.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;39 to 194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;24.5 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.6 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;30.1 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.8 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:98.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;194 to 1,061&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14.0 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3.6 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12.2 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3.6 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:98.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,061 to 2,121&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.4 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.2 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.6 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.2 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&amp;gt; 2,121&lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.4 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.5 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.2 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:98.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1.2 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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;background-color:#5AC4C4;border-color:Black;min-width:98.25pt;' &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:98.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;91.0 &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:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;9.0 &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:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;91.7 &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:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:justify;margin-top:10pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.1.5   I&lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;mpaired secured loan 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:9pt;margin-left:0pt;' &gt;T&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he breakdown of loans and advances, within financial assets at amortized cost, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;non-performing&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and accumulated impairment, as well as the gross carrying amount, by counterparties as of December 31, 2019, 2018 and 2017 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:606pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:606pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:90.75pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:261pt;' &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: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:#072146;' &gt;Gross carrying amount&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:#072146;' &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: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:#072146;' &gt;Accumulated impairment &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:#072146;' &gt;Non-performing loans and advances as a % of the total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Central banks&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:#004481;' &gt;4,285&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:#004481;' &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: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:#004481;' &gt;(9)&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:#004481;' &gt;0.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;font-weight:bold;color:#004481;' &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:#004481;' &gt;28,281&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:#004481;' &gt;88&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:#004481;' &gt;(60)&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:#004481;' &gt;0.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;font-weight:bold;color:#004481;' &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:#004481;' &gt;13,664&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:#004481;' &gt;6&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:#004481;' &gt;(15)&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:#004481;' &gt;0.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;font-weight:bold;color:#004481;' &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:#004481;' &gt;11,239&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:#004481;' &gt;17&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:#004481;' &gt;(31)&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:#004481;' &gt;0.2%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;font-weight:bold;color:#004481;' &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:#004481;' &gt;173,254&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:#004481;' &gt;8,467&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:#004481;' &gt;(6,465)&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:#004481;' &gt;4.9%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;3,758&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;154&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;(124)&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;4.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;4,669&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;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;(86)&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;2.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;39,517&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;1,711&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;(1,242)&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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;12,305&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;684&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;(575)&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;5.6%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;900&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;14&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;(16)&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;1.6%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;10,945&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;1,377&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;(876)&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;12.6%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;27,467&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;1,799&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;(1,448)&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;6.6%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;9,638&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;507&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;(392)&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;5.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;8,703&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;279&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;(203)&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;3.2%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Information and communications&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;6,316&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;95&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;(65)&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;1.5%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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: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;6,864&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;191&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;(140)&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;2.8%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;19,435&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;782&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;(527)&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;4.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;4,375&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;167&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;(140)&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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;3,415&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;118&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;(134)&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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;282&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&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;1.7%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;903&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;41&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;4.5%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;4,696&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;66&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;(55)&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;1.4%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;1,396&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;47&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;(39)&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:13.5pt;' &gt;&lt;td style='width:261pt;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: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;7,671&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;331&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;(360)&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: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:8pt;font-weight:bold;color:#004481;' &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:#004481;' &gt;181,989&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:#004481;' &gt;7,381&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:#004481;' &gt;(5,847)&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:#004481;' &gt;4.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:#5AC4C4;border-color:Black;min-width:261pt;' &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:#5AC4C4;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;412,711&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:#5AC4C4;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;15,959&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:#5AC4C4;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(12,427)&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:#5AC4C4;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3.9%&lt;/font&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='5' rowspan='1' style='width:582pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:582pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2018 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:67.5pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Gross carrying amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Non-performing loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Accumulated impairment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Non-performing loans and advances as a % of the total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Central Banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;3,947&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:13.5pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;28,198&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(84)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;0.4%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;9,175&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;0.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;9,490&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;0.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;170,182&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;8,372&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(6,260)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;4.9%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,685&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(107)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(70)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Manufacturing&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36,772&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,853&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;585&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(446)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Construction&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,899&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25,833&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,798&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;459&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(374)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;315&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(204)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,238&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(72)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,929&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;147&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(128)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17,272&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;834&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(624)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,096&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;204&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(171)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(125)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;319&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Education&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;912&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(31)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,406&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;63&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(63)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,323&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(41)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:13.5pt;' &gt;&lt;td style='width:261pt;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:8pt;color:#000000;' &gt;Other services&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,791&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;386&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(382)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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: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:8pt;font-weight:bold;color:#004481;' &gt;Households&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;178,355&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;7,838&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(5,833)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;4.4%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:#5AC4C4;border-color:Black;min-width:261pt;' &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:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;399,347&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:80.25pt;' &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:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(12,217)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:80.25pt;' &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:528.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:528.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2017 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:45pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Non-performing&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Accumulated impairment or Accumulated changes in fair value due to credit risk&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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: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:8pt;font-weight:bold;color:#004481;' &gt;General governments&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;171&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(111)&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;0.5%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Credit institutions&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;11&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(36)&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;0.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;12&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(26)&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;0.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;10,791&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(7,538)&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;6.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;166&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(123)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;177&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(123)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:13.5pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Manufacturing&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(955)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;213&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(289)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Construction&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;441&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(353)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;362&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(222)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;984&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(256)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;252&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(183)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;188&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(130)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Education&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;75&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(68)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;69&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(38)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;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:8pt;color:#000000;' &gt;Other services&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;690&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(716)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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: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:8pt;font-weight:bold;color:#004481;' &gt;Households&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;8,417&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(5,073)&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;4.7%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:#5AC4C4;border-color:Black;min-width:261pt;' &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:89.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:89.25pt;' &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:89.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:89.25pt;' &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:89.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:89.25pt;' &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;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The changes during the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;years 2019, 2018 and 2017 of impaired financial assets 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:492pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:492pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &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: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:7pt;font-weight:bold;color:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2017&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:middle;background-color:#5AC4C4;border-color:Black;min-width:287.25pt;' &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:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;17,134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;20,590&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;23,877&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:7pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9,857&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9,792&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10,856&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:7pt;color:#000000;' &gt;Decreases (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5,874)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(6,909)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(7,771)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:7pt;font-weight:bold;color:#004481;' &gt;Net additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;3,983&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;2,883&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;3,085&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:7pt;color:#000000;' &gt;Amounts written-off&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3,803)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5,076)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5,758)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:7pt;color:#000000;' &gt;Exchange differences and other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(544)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,264)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(615)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &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;background-color:#5AC4C4;border-color:Black;min-width:287.25pt;' &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:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;16,770&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;17,134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;20,590&lt;/font&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:6pt;margin-left:35.45pt;' &gt;(*)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Reflects the total amount of impaired loans derecognized from the consolidated balance sheet throughout the year as a result of mortgag&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;e foreclosures and real estate assets received in lieu of payment as well as monetary recoveries (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:8pt;margin-left:0pt;' &gt;The changes during the years 2019, 2018 and 2017 in financial assets derecognized from the accompanying consolidated balance sheet as their reco&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;very is considered unlikely (&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: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:#02A5A5;' &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:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:219pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &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;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,712&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,986&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Decrease:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(11,039)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4,442)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:66.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:66.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(919)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(589)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(558)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:66.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(617)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(625)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(149)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Sales  (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(8,325)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(1,805)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(2,284)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:66.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(493)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(889)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(1,121)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:66.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(682)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(292)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(321)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:219pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:219pt;' &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:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;230&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;250&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(752)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:219pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;26,245&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &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;/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:6pt;margin-left:35.45pt;' &gt;(*) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Includes principal and interest.&lt;/font&gt;&lt;/p&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;As indicated in Note 2.2.1, although&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;a &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;time-barred financial as&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;set, 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:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.1.6   Loss allowances&lt;/font&gt;&lt;/p&gt;&lt;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;Movements in gross accounting balances and accumulated allowances for loan losses during 2019 are recorded on the accompanying consolidated balance sheet as of December 31, 201&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;9, in order to cover the estimated loss allowances in loans and advances and debt securities measured at amortized cost. As for the years ended December 31, 2018 and 2017, the changes in the accumulated allowances are presented):&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: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:7pt;color:#02A5A5;' &gt;Changes in gross accounting balances of loans and advances at amortized cost. December 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:29.25pt;' &gt;&lt;td style='width:150.75pt;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:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Opening balance&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;352,282&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;30,707&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;16,359&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;399,347&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Transfers of financial assets:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(9,021)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6,279&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2,741&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:150.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Transfers from stage 1 to Stage 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(13,546)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13,546&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:150.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Transfers from stage 2 to Stage 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,656&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(5,656)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:150.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Transfers to Stage 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,571)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2,698)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:150.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Transfers from Stage 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;440&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,087&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,527)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:150.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Net annual origination of financial assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;20,296&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2,739)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;246&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17,804&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Becoming&amp;#160;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#181818;' &gt;write-&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#0C0C0C;' &gt;offs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(152)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(349)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3,407)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(3,908)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Foreign exchange&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,611&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;35&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,662&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:150.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Modifications that do not result in derecognition&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(27)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,782)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(388)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2,180)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Closing balance&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;363,234&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;33,518&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;15,959&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;412,711&lt;/font&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='5' rowspan='1' style='width:445.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:445.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;Changes in allowances of loans and advances at amortized cost. December 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24pt;' &gt;&lt;td style='width:145.5pt;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:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &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;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 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;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Opening 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:#5AC4C4;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(2,082)&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:#5AC4C4;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(2,375)&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:#5AC4C4;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(7,761)&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:#5AC4C4;border-color:Black;min-width: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;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Transfers of financial assets:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;176&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(227)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,574)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,626)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:145.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Transfers from stage 1 to Stage 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:7pt;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:7pt;color:#000000;' &gt;(649)&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:7pt;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:7pt;color:#000000;' &gt;(523)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:145.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Transfers from stage 2 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:7pt;color:#000000;' &gt;(38)&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:7pt;color:#000000;' &gt;273&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:7pt;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:7pt;color:#000000;' &gt;235&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:145.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;89&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:7pt;color:#000000;' &gt;234&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:7pt;color:#000000;' &gt;(1,810)&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:7pt;color:#000000;' &gt;(1,487)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:145.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Transfers from 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:7pt;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:7pt;color:#000000;' &gt;(86)&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:7pt;color:#000000;' &gt;236&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:7pt;color:#000000;' &gt;149&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:145.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Net annual origination of allowances&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:7pt;color:#000000;' &gt;(542)&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:7pt;color:#000000;' &gt;(116)&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:7pt;color:#000000;' &gt;(1,711)&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:7pt;color:#000000;' &gt;(2,370)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:145.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Becoming&amp;#160;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#181818;' &gt;write-&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#0C0C0C;' &gt;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:7pt;color:#000000;' &gt;130&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:7pt;color:#000000;' &gt;337&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:7pt;color:#000000;' &gt;2,789&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:7pt;color:#000000;' &gt;3,256&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:145.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;(30)&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:7pt;color:#000000;' &gt;(18)&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:7pt;color:#000000;' &gt;69&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:7pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:145.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;(15)&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:7pt;color:#000000;' &gt;(149)&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:7pt;color:#000000;' &gt;(89)&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:7pt;color:#000000;' &gt;(254)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:145.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;215&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:7pt;color:#000000;' &gt;366&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:7pt;color:#000000;' &gt;183&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:7pt;color:#000000;' &gt;764&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:#5AC4C4;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(2,149)&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:#5AC4C4;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(2,183)&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:#5AC4C4;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(8,094)&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:#5AC4C4;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(12,427)&lt;/font&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:9.75pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:636pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:636pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#5AC4C4;' &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;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:#072146;' &gt;Not credit-impaired&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:#072146;' &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:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:29.25pt;' &gt;&lt;td style='width:261pt;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:#072146;' &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:#072146;' &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:#072146;' &gt;Credit-impaired &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &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-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:#072146;' &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:#072146;' &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:#072146;' &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:#072146;' &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:#072146;' &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:#5AC4C4;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Opening 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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Transfers from&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt; Stage &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1 to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;Stage&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt; 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;(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:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Transfers from &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;Stage &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2 (not credit - impaired) to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;Stage&lt;/font&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;(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;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:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Transfers to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;Stage&lt;/font&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;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;(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:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Transfers from &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;Stage&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt; 3 to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;Stage&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt; 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;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:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Changes without transfers between &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6.9pt;font-style:italic;color:#000000;' &gt;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;(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:middle;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;(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:middle;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;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:middle;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;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:middle;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;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:middle;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;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:middle;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;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:middle;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;(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:middle;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;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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;tr style='height:9.75pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;Of which: Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;(12,217)&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;font-style:italic;color:#666666;' &gt;Of which: Debt certificates&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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &gt;(46)&lt;/font&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:9.75pt;' &gt;&lt;td colspan='9' rowspan='1' style='width:681pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;background-color:#E9E9E9;border-color:Black;min-width:681pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#5AC4C4;' &gt;Financial assets at amortized cost. 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:177pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Opening balance&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:5pt;font-weight:bold;color:#072146;' &gt;Increases due to amounts set aside  for estimated loan losses during the year&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:5pt;font-weight:bold;color:#072146;' &gt;Decreases due to amounts  reversed for estimated loan losses during the year&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:5pt;font-weight:bold;color:#072146;' &gt;Decreases due to amounts taken against allowances&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:5pt;font-weight:bold;color:#072146;' &gt;Transfers between allowances&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:5pt;font-weight:bold;color:#072146;' &gt;Other adjustments&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:5pt;font-weight:bold;color:#072146;' &gt;Closing balance&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:5pt;font-weight:bold;color:#072146;' &gt;Recoveries  recorded directly to the statement of profit or loss&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Specific allowances for financial assets, individually and collectively estimated&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:#004481;' &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;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;(7,484)&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:#004481;' &gt;2,878&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:#004481;' &gt;4,503&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:#004481;' &gt;1,810&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:#004481;' &gt;526&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:#004481;' &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;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;558&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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: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;(144)&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;(26)&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;6&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;-&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;123&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;13&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;(28)&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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:6.6pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &gt;16&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:#808080;' &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:#808080;' &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:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;(26)&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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &gt;(16)&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:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;(103)&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:#808080;' &gt;(17)&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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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: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;(10,793)&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;(7,458)&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;2,872&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;4,503&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;1,687&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;513&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;(8,675)&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;558&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &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:#808080;' &gt;(70)&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:#808080;' &gt;37&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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &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:#808080;' &gt;(287)&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:#808080;' &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:#808080;' &gt;38&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:#808080;' &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:#808080;' &gt;38&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:#808080;' &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:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &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:#808080;' &gt;(3,627)&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:#808080;' &gt;1,993&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:#808080;' &gt;3,029&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:#808080;' &gt;(228)&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:#808080;' &gt;636&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:#808080;' &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:#808080;' &gt;345&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:177pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &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:#808080;' &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:#808080;' &gt;(3,472)&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:#808080;' &gt;837&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:#808080;' &gt;1,422&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:#808080;' &gt;1,687&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:#808080;' &gt;(177)&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:#808080;' &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:#808080;' &gt;212&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Collective allowances for incurred but not reported losses on financial assets&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:#004481;' &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;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;(1,783)&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:#004481;' &gt;2,159&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:#004481;' &gt;1,537&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:#004481;' &gt;(1,328)&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:#004481;' &gt;557&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:#004481;' &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;border-color:Black;min-width:63pt;' &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:12.75pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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: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;(46)&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;(8)&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;30&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;1&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;-&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;3&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;(21)&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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:177pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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: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;(5,224)&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;(1,776)&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;2,128&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;1,536&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;(1,328)&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;554&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;(4,109)&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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:177pt;' &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:#5AC4C4;border-color:Black;min-width:63pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &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;tr style='height:9.75pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;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:10pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.1.7   Refinancing and restructuring transactions &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:8pt;margin-left:0pt;color:#004580;' &gt;Group policies and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt;principles with respect to refinancing and restructuring 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:8pt;margin-left:0pt;' &gt;Refinancing and restructuring transactions (see definition in the Glossary) are carried out with customers who have requested such a transaction in order to meet their current loan payme&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nts 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:8pt;margin-left:0pt;' &gt;The basic aim of a refinancing and restructuring transaction is to provide the customer with a situation of financial viability over time&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 recognition, is c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ontrary 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:8pt;margin-left:0pt;' &gt;The BBVA Grou&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;p&amp;#8217;s refinancing and restructuring policies are based on the following general principles:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 pa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;yment 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 the customer is a company, the analysis also covers the sit&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;uation of the industry in which it operates. &lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;With the aim of increasing the solvency of the transaction, new guarantees and/or guarantors of demonstrable solvency are obtained where possible. An essential part of this process is an analysis of the effecti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;veness of both the new and original guarantees. &lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;This analysis is carried out from the overall customer or group perspective. &lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Refinancing and restructuring transactions do not in general increase the amount of the customer&amp;#8217;s loan, except for the expense i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nherent to the transaction itself. &lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The capacity to refinance and restructure &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;a &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;loan is not delegated to the branches, but decided on by the risk units. &lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The decisions made are reviewed from time to time with the aim of evaluating full compliance with refi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nancing and restructuring policies.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;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.&lt;/font&gt;&lt;/p&gt;&lt;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;In the case of reta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;il customers (private individuals), the main aim of the BBVA Group&amp;#8217;s policy on refinancing and restructuring &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;a &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;loan is to avoid default arising from a customer&amp;#8217;s temporary liquidity problems by implementing structural solutions that do not increase the bal&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ance of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Analysis of the viability of transactions based on the customer&amp;#8217;s willingness and ability to pay,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; which may be reduced, but should nevertheless be present. The customer must therefore repay at least the interest on the transaction in all cases. No arrangements may be concluded that involve a grace period for both principal and interest.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Refinancing an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d restructuring of transactions is only allowed on those loans in which the BBVA Group originally entered into.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Customers subject to refinancing and restructuring transactions are excluded from marketing campaigns of any kind.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;In the case of non-retail cus&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tomers (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;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Forecasted future income, margins and cash flows to allow entities to implement cost adjustment m&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;easures (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;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Where appropriate, the existence of a divestment plan for assets and/or operatin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;g segments that can generate cash to assist the deleveraging process.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The capacity of shareholders to contribute capital and/or guarantees that can support the viability of the plan.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;In accordance with the Group&amp;#8217;s policy, the conclusion of a loan refinanci&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ng and restructuring transaction does not mean the loan is reclassified from &amp;quot;impaired&amp;quot; or &amp;quot;significant increase in credit risk&amp;quot; to normal risk. The reclassification to &amp;quot;significant increase in credit risk&amp;quot; or normal risk categories must be based on the an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;alysis 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:8pt;margin-left:0pt;' &gt;The Group maintains the policy of including risks related to refinanced and restructured loans as either:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;quot;Impaired assets&amp;quot;, as although the customer is&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;quot;Significant increase in credit risk&amp;quot; until the conditions established for their consideration as nor&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;mal risk are met.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;The assets classified as &amp;quot;Impaired assets&amp;quot; should comply with the following conditions in order to be reclassified to &amp;quot;Significant increase in credit risk&amp;quot;:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The customer has to have paid a significant part of the pending exposure.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;At leas&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t one year must have elapsed since its classification as &amp;quot;Impaired asset&amp;quot;.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The customer does not have past due payments.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;The conditions established for assets classified as &amp;#8220;Significant increase in credit risk&amp;#8221; to be reclassified out of this category are a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s follows:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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&amp;#180;s ability to pay, have been verified; none of its expo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sures is more than 30 days past-due.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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; and&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;It is unlikely that the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;The BBVA Group&amp;#8217;s refinancing and restructuring policy provides for th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e possibility of two modifications in a 24 month period 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:8pt;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-d&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;efaults 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) a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ssigned to restructured/renegotiated loans (with the 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:10pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.1.8   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:8pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Policies for preventi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt;ng 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:8pt;margin-left:0pt;' &gt;In order to prevent &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Togeth&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;er 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 banking group&amp;#39;s subsidiaries. At the BBVA Group level, the index reached implies a &amp;quot;very low&amp;quot; degree of conce&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ntration.&lt;/font&gt;&lt;/p&gt;&lt;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;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 nature 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;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;T&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he 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 the Group.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Any legal limits that may exist concerning risk concentration are taken into account (relationship &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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;/span&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:8pt;margin-left:0pt;color:#004580;' &gt;Risk 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:8pt;margin-left:0pt;' &gt;The breakdown of the main figures in the most significant foreign currencies in th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e accompanying consolidated balance sh&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;eets is set forth in Appendix IX&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:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Sovereign 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:8pt;margin-left:0pt;color:#004580;' &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:8pt;margin-left:0pt;' &gt;The risk associated with the transactions involving sovereign risk is identified, measured, controlled and tracked by a centrali&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;zed 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 exists (called &amp;#8220;financial programs&amp;#8221;), tracking such risks, assigning ratings to these countries and, in general,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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.&lt;/font&gt;&lt;/p&gt;&lt;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;The country risk unit tracks the evolution of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 u&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;pdates 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;margin-left:0pt;' &gt;For additional information on sovereig&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n risk in Europe see Appendix IX&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:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;color:#004580;' &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:8pt;margin-left:0pt;' &gt;The valuation methods used to assess the instruments that are subject t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;o 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:8pt;' &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:8pt;margin-left:0pt;' &gt;Specifically, the fair value of sovereign debt securities of European countries has been considered equivalent to their listed pr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ice 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:8pt;font-weight:bold;margin-left:0pt;color:#004580;' &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:8pt;margin-left:0pt;' &gt;The relative weight of the investment in Real Estate developments has dramatically decreased during the last years, especially since 2014. A&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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&amp;#8217;s share in Divarian and of other performing and NPL wholesale portfo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lios 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:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;color:#004580;' &gt;Policies and strategies established by the 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:8pt;margin-left:0pt;' &gt;BBVA has teams specializing in the ma&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nagement 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 t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he 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:8pt;margin-left:0pt;' &gt;The policies established to address the risks related to the developer and real-estate sector, aim to accomplish, a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;mong 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;al&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:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;color:#004580;' &gt;Specific po&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt;licies for analysis and granting 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:8pt;margin-left:0pt;' &gt;In the analysis of new &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;transactions&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, the assessment of the commercial operation in terms of the economic and financial viability of the project has been &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;linear&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The monitoring of the work,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the sales and the legal situation of the project are essential aspects for the admission and follow-up of new real estate &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;transactions&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;. With regard the participation of the Risk Acceptance teams, they have a direct link and participate in the committees o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;f areas such as Valuation, Legal, Research and Recoveries. This &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;assures&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; coordination and exchange of information 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:8pt;margin-left:0pt;' &gt;The following strategies have been implemented with customers in the developer sector: avoidance of large corporate trans&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;actions, 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;transactions&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;. Feasibility studies, at project level, are perfo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rmed by doing a contrast analysis in the pre-commercialization phase, with an appropriate funding cycle and in locations with low commercialization risk&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:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;color:#004580;' &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:8pt;margin-left:0pt;' &gt;The base information for analyzing the real estate portfolios is updated mo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nthly. The tools used include the so-called &amp;#8220;watch-list&amp;#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 revi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ew of the portfolio for financing land, while, in the case of ongoing &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;developments&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:8pt;margin-left:0pt;' &gt;Proper management of the relationship with each customer requires knowledge of various aspects such as an analysis of the company&amp;#8217;s future viability, the updating of the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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.&lt;/font&gt;&lt;/p&gt;&lt;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;BBVA has a classifica&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tion of debtors according to the provisions in each country, in general, categorizing the degree of problem of each risk&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The volume of restructurings during 2019 and 2018 has not been significant, being close to zero.&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:8pt;margin-left:0pt;color:#004580;' &gt;Policies applied in the management of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt; 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:8pt;margin-left:0pt;' &gt;Regarding the financing of real estate, a new regulation has been updated in 2018 in which recommendations for the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;development&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:8pt;margin-left:0pt;' &gt;The recommendations represent guidelines about how to ma&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nage 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.&lt;/font&gt;&lt;/p&gt;&lt;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;The guidelines apply &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;margin-left:0pt;' &gt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;is showing a more sustainable behavior in terms of demography, employment and economic and investment capacities.&lt;/font&gt;&lt;/p&gt;&lt;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;For quantitative information about the risk related to the developer and Real-Estate&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; sector in Spain see Appendix IX&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/p&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.2   Market risk&lt;/font&gt;&lt;/p&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:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.2.1   Market risk in trading portfolios &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:8pt;margin-left:0pt;' &gt;Market risk originates in the possibility that there may be losses in the value of positions held due to movements in the market variables that impact the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;valuation of traded financial products and assets. The main risks can be classified as follows:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;at 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.)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, 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.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Equity risk: This arises as a result of movements in share prices. This risk is generated&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;is therefore a factor that generates risk on the books.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 po&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sitions, 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 i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n 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;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Credit-spread risk: Credit spread is an indicator of an issuer&amp;#39;s credit quality. Spread risk occurs due to variations in the levels of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; spread of both corporate and government issues, and affects positions in bonds and credit derivatives.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Volatility risk: This occurs as a result of changes in the levels of implied price volatility of the different market instruments on which derivatives a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;re 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 volatil&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ity input for their valuation.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;The&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; metrics developed to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;assess&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; market risk in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;BBVA Group are aligned with market practices and are implemented consistently across a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ll 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:8pt;margin-left:0pt;' &gt;Measurement procedures are established in terms of the p&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ossible impact of negative market conditions on the trading portfolio of the Group&amp;#39;s Global Markets units, both under ordinary circumstances and in 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:8pt;margin-left:0pt;' &gt;The standard metric used to measure market risk is Value at Risk (&amp;#8220;Va&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;R&amp;#8221;), which indicates the maximum loss &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;that may&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 ri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sk analysis considers various risks, such as credit spread risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, basis risk&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 well as&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; volatility and correlation 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:8pt;margin-left:0pt;' &gt;With respect to the risk measurement models used by the BBVA Group, the Bank of Spain has authorized the use of the internal market &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;risk model to determine bank capital requirements deriving from risk positions on the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; BBVA&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, S.A. and BBVA Mexico trading book, which jointly accounted for around &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;72&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;%, 76% and 70% of the Group&amp;#8217;s trading-book market risk as of December 31, 2019, 2018 and 201&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;7. For the rest of the geographical areas where the Group operates (applicable mainly to the Group&amp;#180;s South America subsidiaries, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Garanti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; BBVA and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;BBVA USA&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;), bank capital for the risk positions in the trading book is calculated using the Standardized Approa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ch defined by the Basel Committee on Banking Supervision (which is referred to herein as the &amp;quot;standard model&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:8pt;margin-left:0pt;' &gt;The main headings in the consolidated balance sheet of the Group which are exposed to market risk, are positions whose main metric to measure th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e market risk is the VaR. The table below shows, by accounting line of the consolidated balance sheet as of December 31, 2019, 2018 and 2017, the traded financial products and assets of trading for those geographical areas that use Internal Model (BBVA, S.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;A. and BBVA Mexico):&lt;/font&gt;&lt;/p&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:472.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:472.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#02A5A5;' &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:166.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &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='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:6pt;font-weight:bold;color:#072146;' &gt;December 2019&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:6pt;font-weight:bold;color:#072146;' &gt;December 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:6pt;font-weight:bold;color:#072146;' &gt;December 2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:166.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:166.5pt;' &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: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:6pt;font-weight:bold;color:#072146;' &gt;Main market risk metrics - VaR&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:6pt;font-weight:bold;color:#072146;' &gt;Main market risk metrics - &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Others (*)&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:6pt;font-weight:bold;color:#072146;' &gt;Main market risk metrics - VaR&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:6pt;font-weight:bold;color:#072146;' &gt;Main market risk metrics - &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Others (*)&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:6pt;font-weight:bold;color:#072146;' &gt;Main market risk metrics - VaR&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:6pt;font-weight:bold;color:#072146;' &gt;Main market risk metrics - &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Others (*)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:166.5pt;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:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Assets subject to market risk&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:6pt;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;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:166.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &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: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:6pt;color:#000000;' &gt;96,461&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:6pt;color:#000000;' &gt;1,671&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:6pt;color:#000000;' &gt;114,156&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:6pt;color:#000000;' &gt;124&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:6pt;color:#000000;' &gt;59,008&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:6pt;color:#000000;' &gt;441&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.25pt;' &gt;&lt;td style='width:166.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &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:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7,089&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:6pt;color:#000000;' &gt;24,691&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:6pt;color:#000000;' &gt;5,652&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:6pt;color:#000000;' &gt;19,125&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:6pt;color:#000000;' &gt;5,661&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:6pt;color:#000000;' &gt;24,083&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:166.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;Of which: Equity instruments&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:6pt;font-style:italic;color:#666666;' &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:6pt;font-style:italic;color:#666666;' &gt;1,783&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:6pt;font-style:italic;color:#666666;' &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:6pt;font-style:italic;color:#666666;' &gt;2,046&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:6pt;font-style:italic;color:#666666;' &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:6pt;font-style:italic;color:#666666;' &gt;2,404&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:166.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Derivatives - Hedge accounting&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:6pt;color:#000000;' &gt;628&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:6pt;color:#000000;' &gt;840&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:6pt;color:#000000;' &gt;688&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:6pt;color:#000000;' &gt;1,061&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:6pt;color:#000000;' &gt;829&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:6pt;color:#000000;' &gt;1,397&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:166.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &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: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:6pt;color:#000000;' &gt;74,967&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:6pt;color:#000000;' &gt;12,677&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:6pt;color:#000000;' &gt;67,859&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:6pt;color:#000000;' &gt;11,011&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:6pt;color:#000000;' &gt;42,468&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:6pt;color:#000000;' &gt;2,526&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:166.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Derivatives - Hedge accounting&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:6pt;color:#000000;' &gt;671&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:6pt;color:#000000;' &gt;1,183&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:6pt;color:#000000;' &gt;550&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:6pt;color:#000000;' &gt;910&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:6pt;color:#000000;' &gt;1,157&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:6pt;color:#000000;' &gt;638&lt;/font&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:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Includes mainly assets and liabilities managed by ALCO.&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:8pt;margin-left:0pt;' &gt;Although the table above provides information on &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;certain&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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.&lt;/font&gt;&lt;/p&gt;&lt;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;The current management struc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ture 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:8pt;margin-left:0pt;' &gt;The model used estimates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; VaR in accordance with the historical simulation 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 we&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;re 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 assumin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;g any specific distribution of probability. The historical period used in this model is two years.&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:8pt;margin-left:3.3pt;' &gt;VaR figures are estimated&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; with the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; following methodologies:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;VaR without smoothing, which awards equal weight to the daily information for the previous two &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;years. This is currently the official methodology for measuring market risks for the purpose of monitoring compliance with risk limits.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;VaR with smoothing, which gives a greater weight to more recent market information. This metric supplements the previous&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; one.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;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&amp;#39;s regulatory requirements with respect to the calculation of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;bank capital for the trading book. Specifically, the measures incorporated in the Group since December 2011 (stipulated by Basel 2.5) are:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;VaR: In regulatory terms, the VaR charge incorporates the stressed VaR charge, and the sum of the two (VaR and stress&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ed VaR) is calculated. This quantifies the losses associated with the movements of the risk factors&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; inherent to market operations &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;(including interest-rate risk, exchange-rate risk, equity risk and credit risk, among others). Both VaR and stressed VaR are r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;escaled by a regulatory multiplier set at three and by the square root of ten to calculate the capital charge.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Specific Risk - Incremental Risk Capital (&amp;#8220;IRC&amp;#8221;) Quantification of the risks of default and downgrading of the credit ratings of the bond and cre&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;dit derivative positions in the portfolio. The IRC charge is exclusively applied in entities in respect of which the internal market risk model is used (i.e., B&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;BVA&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, S.A. and BBVA Mexico). The IRC charge is determined based on the associated losses (calcula&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ted 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 item&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Specific Risk - Securitization and correlation portfolios. 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;Validity tests are performed regularly &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 ri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sk positions (stress testing). As an additional supporting measure, backtesting is conducted at a trading desk level in order to enable more specific monitoring of the validity of the measurement 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:8pt;margin-left:0pt;color:#004580;' &gt;Market risk in 2019&lt;/font&gt;&lt;/p&gt;&lt;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;The Group&amp;#8217;s market risk related &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;to its trading portfolio remained at low levels compared to other risks managed by BBVA, particularly credit risk. This is due to the nature of the business. In 2019 the average VaR was &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;19&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million, below the figure of 2018, with a high on &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;September 13, 2019&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;25&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million. The evolution in the BBVA Group&amp;#8217;s market risk during 2019, measured as VaR without smoothing (see Glossary) with a 99% confidence level and a 1-day horizon (shown in millions of Euros) is as follows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;:&lt;/font&gt;&lt;/p&gt;&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;By type of market risk assumed by t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he Group&amp;#39;s trading portfolio, the main risk factor for the Group continued to be that linked to interest rates, with a weight of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;58&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;% of the total at December 31, 201&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;9&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; (this figure includes the spread risk). The relative weight of this risk has &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;creased co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;mpared with the close of 201&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;8&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;55&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;%). Exchange-rate risk account&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ed for&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 1&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;3&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; of the total risk&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;de&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;creasing its &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;weight &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;with respect to December 201&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;8 (14&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;%), while equity, volatility and correlation risk has decreased, with a weight of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;29&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;% at the close of 201&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;9 (vs. 31% at the close of 2018&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;As of December 31, 2019, 2018 and 2017 the VaR was &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;20&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million, &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;17&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;22&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million, respectively. The total VaR figures for 2019, 2018 and 2017 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:504pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:504pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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: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:#0066CC;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Interest/Spread risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Currency risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Stock-market risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Vega/Correlation risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Diversification effect(*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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:bottom;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;December 2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &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:12.75pt;' &gt;&lt;td style='width:103.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:103.5pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:103.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:103.5pt;' &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:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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:12.75pt;' &gt;&lt;td style='width:103.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:103.5pt;' &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:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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:12.75pt;' &gt;&lt;td style='width:103.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;End of period VaR&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &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:bottom;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;December 2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:103.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:103.5pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(20)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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:103.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:103.5pt;' &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:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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:103.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:103.5pt;' &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:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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:103.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;End of period VaR&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &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:bottom;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;December 2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:103.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:103.5pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(23)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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:103.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:103.5pt;' &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:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(19)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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:103.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:103.5pt;' &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:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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:103.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:103.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;End of period VaR&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#004481;' &gt;22&lt;/font&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:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;The div&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;ersification 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.&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:8pt;margin-left:0pt;color:#004580;' &gt;Validation of the internal market &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt;risk 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:8pt;margin-left:0pt;' &gt;The internal market risk model is validated on a regular basis by backtesting in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;both, BBVA, S.A.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;G&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lobal &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;M&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;arkets Mexico (BBVA Mexico). The aim of backtesting is to validate the quality and precision of the interna&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;l market risk model used by &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;BBVA 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&amp;#39;s results and the risk measurements generated by the internal market risk model. These tests showed that the inter&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nal market risk model of both&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; B&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;BVA&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, S.A. and BBVA &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Mexico 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:8pt;margin-left:0pt;' &gt;Two types of backtesting &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;have been&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; carried out &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 2019, 2018 and 2017:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;quot;Hypothetical&amp;quot; backtesting: the daily VaR is compared with the results obtained, not taking into &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;quot;Real&amp;quot; backtesting: the daily VaR is compared with the total results, including intraday tran&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sactions, but discounting the possible minimum charges or fees involved. This type of backtesting includes the intraday risk in portfolios.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;In addition, each of these two types of backtesting was carried out at a risk factor or business type level, thus ma&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;king 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:8pt;margin-left:0pt;' &gt;For the period between the year ended December 31, 2018 and the year ended December 31, 2019, the backtesting of the internal VaR calculation mode&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;l&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; was carried out&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, comparing the da&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ily results obtained to the risk level estimated 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 (0-4 exceptions), thus validating the int&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ernal VaR calculation model, as has occurred each year since the internal market risk model was approved for the Group. &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:8pt;margin-left:0pt;color:#004580;' &gt;Stress testing&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:8pt;margin-left:0pt;' &gt;A number of stress tests are carried out on &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;BBVA Group&amp;#39;s trading portfolios. First, global and local&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 generate s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;cenarios 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 ma&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rket variables affecting these positions&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;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:8pt;margin-left:0pt;color:#004580;' &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:8pt;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:8pt;color:#222222;' &gt;in September 2008 led to a significant impact on the behavior of financial markets at a glo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#222222;' &gt;bal level. The following are the most relevant effects of this historical scenario:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Credit shock: reflected mainly in the increase of credit spreads an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d downgrades in credit ratings.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Increased volatility in most of the financial markets (giving rise to a &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;great deal of variation in the prices of different assets (currency, equity, debt).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &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;/span&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:8pt;margin-left:0pt;color:#004580;' &gt;Simulated &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt;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:8pt;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 is based &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 methodology is that the p&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;eriod 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; in the scenarios included in the calculation 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:8pt;margin-left:0pt;' &gt;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 intr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;oduction of a lot of variability in the simulations (desirable for considering 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:8pt;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:8pt;' &gt;based on the e&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;xpected shortfall (expected shortfall calculated&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; at a 95% confidence level, 20 days) as of December 31, 2019 is as follows:&lt;/font&gt;&lt;/p&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:453.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:453.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Impact of the stress test  (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33.75pt;' &gt;&lt;td style='width:87.75pt;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:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Europe&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Peru&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Venezuela&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Argentina&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Colombia&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:87.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:87.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(112)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(68)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(23)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/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:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.2.2   Financial Instruments &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;offset&lt;/font&gt;&lt;/p&gt;&lt;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;Financial assets and liabilities may be netted in certain cases. In particular, they are presented for a net amount on the consolidated balance sheet only when the Group&amp;#39;s entities satisfy the provisions of IAS 32-Paragraph 42, so they have both the legal &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;right to net recognized amounts, and the intention of settling the net amount or of realizing the asset and simultaneously 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:8pt;margin-left:0pt;' &gt;In addition, the Group has presented as gross amounts assets and liabilities on the consolidated balance sheet &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;for which there are master netting arrangements in place, but for which there is no intention of settling the net amount. The most common types of events that trigger the netting of reciprocal obligations are bankruptcy of the entity, surpassing certain le&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;vel 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:8pt;margin-left:0pt;' &gt;In the current market context, derivatives are contracted under different framework contracts the most widespread &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;having been&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; developed by the International Swaps a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nd Derivatives Association (&amp;#8220;ISDA&amp;#8221;) and, for the Spanish market, the Framework Agreement on Financial Transactions (&amp;#8220;CMOF&amp;#8221;). Almost all portfolio derivative transactions have been concluded under these framework contracts, including in them the netting cla&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;uses mentioned in the preceding paragraph as &amp;quot;Master Netting Agreement&amp;quot;, greatly reducing the credit exposure on these instruments. Additionally, in contracts signed with counterparties, the collateral agreement annexes called Credit Support Annex (&amp;#8220;CSA&amp;#8221;) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;margin-left:0pt;' &gt;Moreover, many of the transactions involving assets purchased or sold under a repurchase agreement are transacted through clearing houses that articulate mechanisms to re&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;duce counterparty risk, as well as through the signing of various master agreements for bilateral transactions, the most widely used being the Global Master Repurchase Agreement (GMRA), published by the International Capital Market Association (&amp;#8220;ICMA&amp;#8221;), to&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; which the clauses related to the collateral exchange are usually added within the text of the master agreement 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:8pt;margin-left:0pt;' &gt;A summary of the effect&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of offsetting&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; (via netting and collateral) for derivatives and securities operations is presented below as of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; December 31, 2019, 2018 and 2017:&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:544.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:544.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27.75pt;' &gt;&lt;td style='width:166.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:108pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:108pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Gross amounts not offset in the consolidated balance sheets (D)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:66pt;' &gt;&lt;td style='width:166.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:166.5pt;' &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:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Gross amounts recognized (A)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Gross amounts offset in the consolidated balance sheets (B)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Net amount presented in the consolidated balance sheets (C=A-B)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Financial instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Cash collateral received/ pledged&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:166.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Trading and hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10, 15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37,302&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,388&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34,914&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25,973&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,210&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;731&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:19.5pt;' &gt;&lt;td style='width:166.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Reverse repurchase, securities borrowing and similar agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35,805&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35,784&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35,618&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;204&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &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:166.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:166.5pt;' &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:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &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:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;73,107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,409&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;70,698&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;61,591&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,415&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;692&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:166.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Trading and hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10, 15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39,646&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,394&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37,252&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25,973&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,613&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &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:19.5pt;' &gt;&lt;td style='width:166.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Repurchase, securities lending and similar agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45,977&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45,956&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45,239&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;420&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;297&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:166.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:166.5pt;' &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:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &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:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;85,623&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,414&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;83,209&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;71,212&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;11,033&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;964&lt;/font&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:507.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:507.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:166.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:97.5pt;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:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Gross Amounts Not Offset in the Consolidated Balance Sheets (D)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:72pt;' &gt;&lt;td style='width:166.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Gross amounts recognized (A)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Gross amounts offset in the consolidated balance sheets (B)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Net amount presented in the consolidated balance sheets (C=A-B)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Financial instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Cash collateral received/ pledged&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:166.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Trading and hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10, 15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;49,908&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,480&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33,428&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25,024&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,790&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;613&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:166.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Reverse repurchase, securities borrowing and similar agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,074&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,032&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28,022&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;169&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:9pt;' &gt;&lt;td style='width:166.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:166.5pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;77,982&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;16,522&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;61,460&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;53,046&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,959&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;454&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:166.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Trading and hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10, 15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;51,596&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17,101&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34,494&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25,024&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,788&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,682&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21.75pt;' &gt;&lt;td style='width:166.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Repurchase, securities lending and similar agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43,035&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42,993&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42,877&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:11.25pt;' &gt;&lt;td style='width:166.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:166.5pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;94,631&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;17,143&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;77,487&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;67,901&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,822&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:507.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:507.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2017 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:39pt;' &gt;&lt;td style='width:166.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#003366;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:97.5pt;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:97.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Gross Amounts Not Offset in the Consolidated Balance Sheets (D)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:60pt;' &gt;&lt;td style='width:166.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:166.5pt;' &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:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Gross amounts recognized (A)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Gross amounts offset in the consolidated balance sheets (B)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Net amount presented in the consolidated balance sheets (C=A-B)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Financial instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Cash collateral received/ pledged&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:166.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Trading and hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10, 15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;49,333&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,584&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;37,749&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27,106&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,202&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:19.5pt;' &gt;&lt;td style='width:166.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Reverse repurchase, securities borrowing and similar agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,426&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,369&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,612&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;141&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(384)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:166.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:166.5pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;75,759&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;11,641&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;64,118&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;53,717&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,583&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,818&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:166.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Trading and hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10, 15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50,693&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,644&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39,049&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27,106&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,328&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,615&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:19.5pt;' &gt;&lt;td style='width:166.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:166.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Repurchase, securities lending and similar agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40,134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40,078&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40,158&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(101)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:166.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:166.5pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;90,827&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;11,701&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;79,126&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;67,264&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,349&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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;p style='text-align:justify;margin-top:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The amount of recognized financial instruments within derivatives includes the effect in case of compensation with counterparties with whic&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;h the Group holds netting agreements, while, for repos, it reflects the market value of the collateral associated with the transaction.&lt;/font&gt;&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.3   Structural risk &amp;#8211; Non-trading activities&lt;/font&gt;&lt;/p&gt;&lt;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;The structural risks are defined, in general terms, as the possibility of sustaining losses due to adverse movements in market risk factors as a result of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; mismatches in the financial structure of an entity&amp;#180;s 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:8pt;margin-left:0pt;' &gt;In the Group, the following types of structural risks are defined, according to the nature and the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;following &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;market factors: interest rate, exchange rate and 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:8pt;margin-left:0pt;' &gt;The scope of structur&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;al risks in the Group is limited to the banking book, excluding market risks in the trading book that are clearly delimited and separate&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d and make up the Market 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:8pt;margin-left:0pt;' &gt;The Assets and Liabilities Committee (ALCO) is the main responsible body for the managem&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ent of structural risks&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; regarding liquidity/ &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;funding&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; interest rate, currency, equity and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;solvency&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; Every month, with the participation of the CEO and representatives from the areas of Finance, Risks and Business Areas, this committee monitors the structura&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;l 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;achieving&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; recurrent earnings and financial &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;stability and preserving the entity&amp;#39;s solvency. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; All balance ma&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nagement units have a local ALCO&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, which is permanently attended by members of the corporate cente&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;r, and there is a corporate ALCO&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; where management strategies are monitored and presented in the Group&amp;#39;s subsidiaries.&lt;/font&gt;&lt;/p&gt;&lt;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;Global Risk Management (GRM) area acts as an independent unit, enabling adequate separation between the management and risk control functions, and is responsible for &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;assi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sting&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the goal&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; that&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the structural risks in the Group are managed according to the strategy approved by the Board of 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:8pt;margin-left:0pt;' &gt;Consequently, GRM deals with the identification, measurement, monitoring and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;control&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of&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;those risks and their reporting to the c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;orresponding corporate bodies. Through the Global Risk Management Committee (GRMC), it performs the function of control and risk assessment and is responsible for developing the strategies, policies, procedures and infrastructure necessary to identify, eva&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;luate, measure and manage the significant risks &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;that&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the BBVA Group&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; faces&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;. To this end, GRM, through the corporate unit of Structural Risks, proposes a scheme of limits and alerts that defines the risk appetite set for each of the relevant structural risk &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;types, both at Group level and by management units, which will be reviewed annually, reporting the situ&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ation periodically to the Group&amp;#8217;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s corporate bodies as well as to the GRMC.&lt;/font&gt;&lt;/p&gt;&lt;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;In addition, both, the management as well as the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;control&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and measurement system of the structural risks need to be adjusted necessarily to the Group&amp;#8217;s internal control model, in compliance with the related evaluation and certification processes. In this regard, the required tasks and controls have been identifi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ed and documented, which allows the Bank to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;have&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; a regulatory framework that includes precise processes and measures for structural risks with a global perspective from a geographical point of view.&lt;/font&gt;&lt;/p&gt;&lt;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;BBVA&amp;#8217;s internal control model, which is based on high sta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ndards, is included within the three lines of defense. The Finance area is the first line of defense, by being in charge of the structural risk management, whereas GRM is in charge of the identification of the risks and establishes policies and control mod&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;els, which are periodically evaluated with regard to their performance.&lt;/font&gt;&lt;/p&gt;&lt;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;Within the second line of defense &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;there is&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; Internal Risk Control, which independently reviews the structural risk controls, and one entity of Internal Financial Control, which reviews &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the design and the effectiveness of the operating management controls.&lt;/font&gt;&lt;/p&gt;&lt;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;Internal Audit, which works with total independence, represents the third line of defense and reviews specific controls and processes.&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.3.1   Structural interest &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;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:8pt;margin-left:0pt;' &gt;The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;structural interest-rate risk (&amp;#8220;IRRBB&amp;#8221;) is related to the potential impact that variations in market 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 genera&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;te this risk: repricing risk, yield curve risk, option risk and basis risk, which are analyzed&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; with an integral vision, combining two complementary points of view: net interest income (short term) and economic value (long term).&lt;/font&gt;&lt;/p&gt;&lt;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;The exposure of a financial&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; entity to adverse interest rates movements is a risk inherent to the development of the banking business, which is also, in turn, an opportunity to create economic value. Therefore, interest rate risk must be effectively managed so that it is limited in a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ccordance with the entity&amp;#8217;s equity and in line with the expected economic 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:8pt;margin-left:0pt;' &gt;This function falls to the Global ALM (Asset &amp;amp; Liability Management) unit, within the Finance area, who, through ALCO, aims to support the recurrence of results and preserve &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the solvency of the entity, always adhering to the risk profile defined by the management bodies of the BBVA Group. The interest&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; rate&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; risk management of the balance sheet aims to promote the stability of the net interest income&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and book value &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;with respect &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; changes&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; in market&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; interest rates&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 the different balance-sheets&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;while &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;respecting solvency and internal limits, as well as complying with current and future regulatory requirements. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Likewise, a specific monitoring&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of the banking book instruments &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;registered&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; at market value (fair value) is developed, which due to their accounting treatment have an impact on results and / 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:8pt;margin-left:0pt;' &gt;In this regard, the BBVA Group maintai&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ns an exposure to fluctuations o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n interest rates according to its objective strategy &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and risk profile, being carried out in a decentralized and independent manner in each of th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e banking entities that compose&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; its structural balance&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;-sheet&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The management is carried out in accordance with the guidelines established by the European Banking Aut&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;hority (EBA), with a monitoring of interest rate risk metrics, with the aim of analyzing the potential impact that could be derived from the range of scenarios&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; in the different balance-sheets&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of the Group.&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:8pt;margin-left:0pt;color:#094FA4;' &gt;Nature of 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:8pt;margin-left:0pt;' &gt;Repricing risk arises&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; due to the difference between the repricing or maturity terms of the assets and liabilities, and represents the most frequent interest rate risk faced by financial entities. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;However&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, other sources of risk as changes in the slope and shape of the yield cur&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ve, the reference to different indexes and the optionality risk embedded in certain banking transactions, are also taken into account by the risk control 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:8pt;margin-left:0pt;' &gt;BBVA&amp;#39;s structural interest-rate risk management process is formed &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;by&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; a set of metrics and tool&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s that&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;allows for the precise monitorization of the risk profile of the Group&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, backed-up by an assumptions set that aims to characterize the behavior of the balance sheet items with the maximum accuracy.&lt;/font&gt;&lt;/p&gt;&lt;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;The IRRBB measurement is carried out on a monthly ba&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sis, and includes probabilistic measures based on methods of scenario simulation, which enables to capture additional sources of risk to the parallel shifts, as the changes in slope and shape of the yield curve. Additionally, sensitivity analysis to multip&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;le parallel shocks of different magnitude are also assessed on a regular basis. The process is run separately for each currency to which the Group is exposed, considering, at a later stage, the diversification effect among currencies and 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:8pt;margin-left:0pt;' &gt;The risk measurement model is complemented by the assessment of ad-hoc scenarios and stress tests. As stress testing has become more relevant during the recent years, the evaluation of extreme scenarios of rupture of historical interest rates levels, corre&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lations and volatility has continued to be enhanced, while assessing, also, BBVA Research market 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:8pt;margin-left:0pt;' &gt;During 2019 the Group has worked on the enhancement of the control and management model according to the guidelines established by the EBA on the ma&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nagement of interest rate risk in the banking book. It is worth highlighting, among other aspects, the reinforcement of stress analysis incorporating the assessment of the impacts on the main balance sheets of the Group that could derive from the range of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;interest rate scenarios defined in accordance with the aforementioned EBA guidelines.&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:8pt;margin-left:0pt;color:#094FA4;' &gt;Key assumptions 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:8pt;margin-left:0pt;' &gt;In order to measure structural interest rate risk, the setting of assumptions on the evolution and behavior of certain balance sheet items is&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; particularly relevant, especially those related to products without an explicit or contractual 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:8pt;margin-left:0pt;' &gt;The assumptions that characterize these balance sheet items must be understandable for the areas and bodies involved in risk management and control an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d remain duly justified and documented. The modeling of these assumptions must be conceptually reasonable and consistent with the evidence based on historical experience, reviewed at least once a 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:8pt;margin-left:0pt;' &gt;In view of the heterogeneity of the financial markets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and the availability of historical data, each one of the entities of the Group is responsible for determining the behavior assumptions to be applied to the balance sheet items, always under the guidelines and the applicability of the corporate models exist&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ing in the 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:8pt;margin-left:0pt;' &gt;Among the balance sheet assumptions stand out those established for the treatment of items without contractual maturity, mainly for demand customer deposits, and those related to the expectations on the exercise of interest rate options, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;especially those relating to loans and deposits subject to prepayment 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:8pt;margin-left:0pt;' &gt;For the modeling of demand deposits, a segmentation of the accounts in several categories is previously carried out depending on the characteristics of the customer (retail / &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;wholesale) and the product (type of account / transactionality / remuneration), in order to outline the specific behavior of each segment.&lt;/font&gt;&lt;/p&gt;&lt;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;In order to establish the remuneration of each segment, the relationship between the evolution of market interest rat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;es and the interest rates of managed accounts is analyzed, with the aim of determining the translation dynamic (percentages and lags) of interest rates variations to the remuneration of the accounts.&lt;/font&gt;&lt;/p&gt;&lt;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;The behavior assigned to each category of accounts is de&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;termined by an analysis of the historical evolution of the balances and the probability of cancellation of the accounts. For this, the volatile part of the balance assigned to a short-term maturity is isolated, thus avoiding fluctuations in the level of ri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sk caused by specific variations in the balances and promoting stability in the management of the balance. Once the stable part is identified, a medium / long term maturity model is applied through a decay distribution based on the average term of the acco&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;unts and the conditional cancellation probabilities throughout the life of the product.&lt;/font&gt;&lt;/p&gt;&lt;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;Additionally, the relationship of the evolution of the balance of deposits with the levels of market interest rates is taken into account, where appropriate, including &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the potential migration between the different types of deposits (on demand / time deposits) in the different interest rate 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:8pt;margin-left:0pt;' &gt;Equally relevant is the treatment of early cancelation options embedded in credit loans, mortgage portfolios and customer &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;deposits. The evolution of market interest rates may condition, along with other variables, the incentive that customers have to prepay loans or deposits, modifying the future behavior of the balance amounts with respect to the forecasted contractual matur&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ity 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:8pt;margin-left:0pt;' &gt;The detailed analysis of the historical information related to prepayment data, both partial and total prepayment, combined with other variables such as interest rates, allows estimating future amortizations and, where appropriate, their beha&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;vior linked to the evolution of such variables.&lt;/font&gt;&lt;/p&gt;&lt;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;The approval and updating of the risk behavior models of structural interest rate risk are subject to corporate governance under the scope of GRM-Analytics. In this way, the models must be properly inventorie&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d and cataloged and comply with the requirements established in the internal procedures for their development, updating and management of the changes. The models are also subject to the corresponding internal validations based on their relevance and the es&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tablished monitoring 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:8pt;margin-left:0pt;' &gt;The table below shows the profile of average interest rate risk in terms of sensitivities of the main banks in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;BBVA Group in 2019:&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:459.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:459.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Sensitivity to interest-rate analysis - December 2019&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;text-align:center;vertical-align:bottom;border-color:Black;min-width:171.75pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:144pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:144pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Impact on net interest income (*)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:144pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:144pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Impact on economic value (**)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:171.75pt;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:#FFFFFF;' &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:8pt;font-weight:bold;color:#072146;' &gt;100 basis-point increase&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:8pt;font-weight:bold;color:#072146;' &gt;100 basis-point decrease&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:8pt;font-weight:bold;color:#072146;' &gt;100 basis-point increase&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:8pt;font-weight:bold;color:#072146;' &gt;100 basis-point decrease&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;Europe (***)&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:8pt;color:#000000;' &gt;+ (5% - 10%)&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:8pt;color:#000000;' &gt;- (0% - 5%)&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:8pt;color:#000000;' &gt;+ (0% - 5%)&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: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: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;Mexico&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:8pt;color:#000000;' &gt;+ (0% - 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:8pt;color:#000000;' &gt;- (0% - 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:8pt;color:#000000;' &gt;+ (0% - 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: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: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;The United States&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:8pt;color:#000000;' &gt;+ (5% - 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:8pt;color:#000000;' &gt;- (5% - 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:8pt;color:#000000;' &gt;- (5% - 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: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: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;Turkey&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:8pt;color:#000000;' &gt;+ (0% - 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:8pt;color:#000000;' &gt;- (0% - 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:8pt;color:#000000;' &gt;- (0% - 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: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: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:8pt;color:#000000;' &gt;South America&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:8pt;color:#000000;' &gt;+ (0% - 5%)&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:8pt;color:#000000;' &gt;- (0% - 5%)&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:8pt;color:#000000;' &gt;- (0% - 5%)&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: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: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:#5AC4C4;border-color:Black;min-width:171.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:72pt;' &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: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:#5AC4C4;border-color:Black;min-width:72pt;' &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: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:#5AC4C4;border-color:Black;min-width:72pt;' &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: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:#5AC4C4;border-color:Black;min-width:72pt;' &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:6pt;margin-left:35.45pt;' &gt;(*)    &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Percentage of &amp;quot;1 year&amp;quot; net interest income forecast &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;for each unit.&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:6pt;margin-left:35.45pt;' &gt;(**)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Percentage of Core Capital for each unit.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:35.45pt;' &gt;(***) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;In Europe&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;, includes&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;falling interest&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;rates at &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;more negative level than current 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:8pt;margin-left:0pt;' &gt;In 2019&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; in Europe monetary policy has remained expansionary,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; implementing in the last part of the year a new package of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; measures&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; to boost the economy and the financial system&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; in response to a weaker global economic environment. This environment, coupled with uncertainty about trade policy and low inflation led the Federal Reserve of the United States to begin a process of interest rate cuts. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Both monetary authorities, taking into account the recent signals regarding a stabilization of the economic growth, have not changed the interest rates during the last months. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;In Mexico and Turkey, a bearish cycle was initiated in the second half of the year due to economic weakness and inflation prospects. In South America, monetary policy has been expansive, with declines in the economies of Chile and Peru&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, caused by the slowdown of the activity and the contained inflation&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, while in Colombia interest rates have remained flat. On the other hand, in Argentina there is a restrictive monetary policy, with a strong increase in interest rates due to the strong volatility of the markets after the election 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:8pt;margin-left:0pt;' &gt;BBVA maintains, at the aggregate level, a favorable position in net interest income in the event of an increase&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 interest rates, as well as a moderate risk profile, in line with its target, through effective management of&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;str&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;uctural balance sheet risk.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; The higher net interest income sensitivities are observed in, particularly &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Euro and USD.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:0pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;In &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Europe, the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;risk of a &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;decrease in interest rates is limited &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;given the&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;current levels, preventing extremely adverse scenarios.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:0pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;In the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; United States, the net interest margin sensitivity has decreased during 2019 due to the downward trend of interest rates, showing therefore a moderate risk profile.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:0pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Mexico shows a high level of stability between the balance sheets referenced to fixed and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;variable interest rates, keeping &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;limited&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; net interest income sensitivity throughout 2019.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:0pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;In Turkey, the e&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;volution of the balance sheets in Turkish lira and USD has been positive, with very &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;moderate&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; interest rate risk, which has allowed &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;to reduce&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;sensitivity during the year.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;In South America, the balance sheet profiles in the countries which this business area comprises have &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;remai&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ned stable, showing a low interest rate risk with an almost stable sensitivity during the year.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.3.2   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:8pt;margin-left:0pt;' &gt;Structural exchange rate risk, inherent to the business of international banking groups that develop their activities in different geographies and currencies, is defined as the possibility of impacts on solvency, equi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ty value and results driven by fluctuations in the exchange rates due to exposures in foreign currencies.&lt;/font&gt;&lt;/p&gt;&lt;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;In &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;BBVA Group, structural exchange-rate risk arises from the consolidation of holdings in subsidiaries with functional currencies other than the e&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;uro. Its management is centralized in order to optimize the joint management of permanent foreign currency exposures, takin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;g diversification into account.&lt;/font&gt;&lt;/p&gt;&lt;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;The corporate Global ALM unit, through ALCO, designs and executes hedging strategies with the main pu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rpose of preserving the stability of consolidated capital ratios and income flows generated in a currency other than the euro in the BBVA Group, keeping a value generation perspective to preserve the Group&amp;#8217;s equity in the long term.&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;To this end, a dynamic &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;management strategy is carried out, considering hedge transactions according to marke&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t expectations and their costs.&lt;/font&gt;&lt;/p&gt;&lt;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;The risk monitoring metrics included in the framework of limits, in line with the Risk Appetite Framework, are integrated into management a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nd supplemented with additional assessment indicators. At &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 probabili&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;stic metrics make it possible to estimate the joint impact of exposure to different currencies taking into account the different variability in exchang&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e rates and their correlations.&lt;/font&gt;&lt;/p&gt;&lt;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;The suitability of these risk assessment metrics is reviewed on a regular&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; basis through back-testing exercises. The final element of structural exchange-rate risk control is the stress and scenario analysis aimed to assess the vulnerabilities of foreign currency structural exposure not contemplated by the risk metrics and to se&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rve as an additional tool when making management decisions. 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:8pt;margin-left:0pt;' &gt;As of December 31, 2019, it is worth mentioning the appreciat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ion of the main currencies of the geographies where the Group operates&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;against the euro, especially &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Mexican peso (6%) and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;US Dollar (2%). The Turkish lira &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;(-9%)&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;and the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; Argentinian peso &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;(-36%) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ha&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ve&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; depreciated, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the latter&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; being 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:8pt;margin-left:0pt;' &gt;The Group&amp;#39;s structural exchange-rate risk exposure level has slightly increased since the end of 2018 driven by the effect of currencies appreciation. The hedging policy intends to keep low levels of sensitivity to&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; movements in the exchange rates of emerging &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;markets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;currencies against the euro and focuses mainly on &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Mexican peso and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Turkish lira. The risk mitigation level in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;capital ratio due to the book value of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;BBVA Group&amp;#39;s holdings in foreign emerg&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ing &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;markets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;currencies stood at around 65% and, as of the end of 2019, CET1 ratio sensitivity to the depreciation of 10% in the euro exchange rate for each currency &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;wa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s: USD +11 bp; Mexican peso -4 bps; Turkish Lira -2 bps; other currencies -1 bp (excludin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;g hyperinflation economies). On the other hand, hedging of emerging&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; markets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;currency denominated earnings &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 2019 was 52%, 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:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.3.3   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:8pt;margin-left:0pt;' &gt;Structural equity &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;risk refers to the possibility of suffering losses in the value of positions in shares and other equity instruments held in the banking book with long or medium term investment horizons due to fluctuations in the value of equity indexes or 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:8pt;margin-left:0pt;' &gt;BBVA Gro&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;up&amp;#39;s exposure to structural equity risk arises largely from minority shareholdings held on industrial and financial companies. This exposure is modulated in some portfolios with positions held on derivative instruments on the same underlying assets, in ord&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;er to adjust the portfolio sensitivity 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:8pt;margin-left:0pt;' &gt;The management of structural equity portfolios is a responsibility of Global ALM and other Group&amp;#39;s units specialized in this area. Their activity is subject to the risk managemen&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t corporate policy on structural equity risk management, 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:8pt;margin-left:0pt;' &gt;The structural equity risk metrics, designed by GRM according to the corporate model, contribute to the effective monitor&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ing of the risk by estimating the sensitivity and the capital necessary to cover the possible unexpected losses due to changes in the value of the shareholdings in the Group&amp;#39;s investment portfolio, with a level of confidence that corresponds to the objecti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ve rating of the entity, taking into account the liquidity of the positions and the statistical behavior of the assets to be considered&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;In order to analyze the risk profile in depth, stress tests and scenario analysis of sensitivity to different simulated&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; scenarios are carried out. They are based on both past crisis situations and forecasts made by BBVA Research. These analyses are carried out regularly to assess the vulnerabilities of structural equity exposure not contemplated by the risk metrics and to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;serve as an additional tool when making management decisions.&lt;/font&gt;&lt;/p&gt;&lt;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;Backtesting is carried out on a regular basis on t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he risk measurement 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:8pt;margin-left:0pt;' &gt;With regard to the equity markets, the world indexes have closed the year 2019 with generalized gains and volati&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lity moderation in a macro environment of global growth slowdown.&lt;/font&gt;&lt;/p&gt;&lt;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;Structural equity risk, measured in terms of economic capital, has remained fairly stable in the period. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The aggregate sensitivity of the BBVA Group&amp;#8217;s consolidated equity to a 1% fall in the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; price of shares of the companies making up the equity portfolio decreased to -&amp;#8364;26 million as of December 31, 2019, compared to -&amp;#8364;29 million as of December 31, 2018. This estimation takes into account the exposure in shares valued at market prices, or if n&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ot applicable, at fair value (excluding the positions in the Treasury Area portfolios) and the net delta-equivalent positions in derivatives on the same underlyings.&lt;/font&gt;&lt;/p&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.4   Liquidity and funding 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:8pt;margin-left:0pt;' &gt;Liquidity and funding risk is defined as the incapacity of a bank &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;to meet&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; its payment commitments for missing resources or that, to face those commitments, should have to make use of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; funding under burdensome terms.&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.4.1   Liquidity &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;and Funding Strategy and Planning&lt;/font&gt;&lt;/p&gt;&lt;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;The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;BBVA Group is a multinational financial institution whose business is focused mainly on retail and commercial banking activities. In addition to the retail business model, which forms the core of its business, the Group engages in corporate and investment banking, through the global CIB (Corporate &amp;amp; Investment Banking) division.&lt;/font&gt;&lt;/p&gt;&lt;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;Liquidity and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;unding ri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sk management aims to maintain a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; solid balance sheet structure which allows a sustainable business model. The Group&amp;#8217;s &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;l&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;iquidity&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and funding&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; strategy is based on the following pillars:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:left;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The principle of the funding self-sufficiency of its subsidiaries, meaning that each of the Liquidity Ma&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nagement Units (LMUs) must cover its funding needs independently on the markets where it operates. This avoids possible contagion due to a crisis affecting one or more of the Group&amp;#8217;s LMUs.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:left;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Stable customer deposits as the main source of funding in all the L&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;MUs, in accordance with the Group&amp;#8217;s business model.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:left;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Diversification of the sources of wholesale funding, in terms of maturity, market, instruments, counterparties and currencies, with recurring access to the markets.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:left;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Compliance with regulatory requirements&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, enabling the availability of ample liquidity buffers, as well as sufficient instruments as required by regulations with the capacity to absorb losses.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:left;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Compliance with the internal Liquidity Risk and Funding metrics, while adhering to the Risk Appetite le&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;vel established for each LMU at any time.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;Liquidity and funding risk management aims to support that in the short term a bank does not have any difficulties in meeting its payment commitments in due time and form, and that it does not have to make use of f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;unding under burdensome terms, or conditions that deteriorate its image or reputation.&lt;/font&gt;&lt;/p&gt;&lt;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;In the medium term the aim is to support that the Group&amp;#8217;s financing structure is ideal and that it is moving in the right direction with respect to the economic situatio&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n, the markets and regulatory 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:8pt;margin-left:0pt;' &gt;This management of structural and liquidity funding is based on the principle of financial self-sufficiency of the entities that make it up. This approach helps prevent and limit liquidity risk by reducing the Group&amp;#8217;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s vulnerability during periods of high risk. This decentralized management prevents possible contagion from a crisis affecting only one or a few Group entities, which must act independently to meet their liquidity requirements in the markets where they ope&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;margin-left:0pt;' &gt;As one aspect of this strategy, BBVA Group is organized into eleven LMUs composed of the parent and the banking subsidiaries in each geographical area, plus the independent branches.&lt;/font&gt;&lt;/p&gt;&lt;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;In addition, the policy for managing liquidity and funding risk is &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;also based on the model&amp;#8217;s robustness and on the planning and integration of risk management into the budgeting process of each LMU, according to the appetite for funding risk it decides to assume in its 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:8pt;margin-left:0pt;' &gt;Liquidity and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;unding planning is drawn up&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; as part of the strategic processes for the Group&amp;#8217;s budgetary and business planning. It allows a recurring growth of the banking business with suitable maturities and costs within the established risk tolerance levels by using a wide range of instruments w&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;hich allow the diversification of the funding sources and the maintenance of a high volume of available liquid assets.&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.4.2   Governance and monitoring&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:12pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The responsibility for &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;l&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;iquidity and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;unding management in normal business activity lies with the Finan&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ce area as a first line of defense in managing the risks inherent to this activity, in accordance with the principles established by the European Banking Authority EBA and in line with the standards, policies, procedures and controls in the framework estab&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lished by the governing bodies. The Finance department, through the Balance-Sheet Management area, plans and executes the funding of the structural long-term gap of each LMU and proposes to the Assets and Liabilities Committee (ALCO) the actions to be take&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n on this matter, in accordance with the policies &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;established by the Risk and Compliance Committee in line with the metrics of the Risk Appetite Framework approved by the Board of 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:8pt;margin-left:0pt;' &gt;The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Finance&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; area&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, in its regulatory liquidity reporting function, coordinates the processes necessary to meet any &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;reporting &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;requirements that may be generated at corporate and regulatory level, with the areas responsible for this reporting in each LMU, thereby monitoring the integrity of the information supplied.&lt;/font&gt;&lt;/p&gt;&lt;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;GRM is responsible for promoting that liquidity and funding risk in the Group is managed according to the strategy approved by the Board of Directors. It is also responsible for identifying, measuring, monitoring &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and controlling those risks and reporting to the proper corporate governing bodies. To carry out this work adequately, the risk function in the Group has been set up as a single, global function that is independent of the management areas.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:12pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;In addition, the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; Group has an Internal Risk Control unit that conducts an independent review of Liquidity and Funding Risk control and management, independently of the functions performed in this area by Internal Audit. Additionally, the Group has in its second line of de&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;fense an Internal Risk Control unit, which performs independent reviews of the Liquidity and Funding risk controls, and an Internal Financial Control unit, which reviews the design and effectiveness of the operating management controls and the liquidity re&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;porting.&lt;/font&gt;&lt;/p&gt;&lt;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;As a third line of defense in the Group&amp;#8217;s internal control model, Internal Audit is in charge of reviewing specific controls and processes in accor&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;dance with an annual work 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:8pt;margin-left:0pt;' &gt;The Group&amp;#8217;s fundamental objectives regarding the liquidity and fundi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ng risk are determined through the Liquidity Coverage Ratio (LCR) and through the Loan-to-Stable C&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ustomer Deposits (LtSCD) ratio.&lt;/font&gt;&lt;/p&gt;&lt;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;The LCR ratio is a regulatory metric that aims to enable the resilience of entities in a scenario of liquidity tension within &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;a time horizon of 30 days. Within its risk appetite framework and system of limits and alerts, BBVA has established a required LCR compliance level for the entire Group and for each individual LMU. The required internal levels aim to comply efficiently and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; sufficiently in advance with the implementation of the regulatory requirement at a level above 100%.&lt;/font&gt;&lt;/p&gt;&lt;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;The LtSCD ratio measures the relationship between net lending and stable customer funds. The aim is to preserve a stable funding structure in the medium t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;erm for each LMU making up &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;BBVA Group, taking into account that maintaining an adequate volume of stable customer funds is key to achieving a sound liquidity profile. In geographical areas with balance sheets with two currencies, the indicator is also &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;controlled by currency to manage the mismatches that might occur.&lt;/font&gt;&lt;/p&gt;&lt;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;S&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;table customer funds can be considered &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;as &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;those &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;obtained and managed&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;by&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;the LMUs among &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;their target customers. Those funds are characterized by their low sensitivity to market changes and by their less volatile behavior at aggregated level per operation due to the loyalty of the customer to the entity. The stable resources are calculated by applying to each identified customer segment a haircut determined by the analysis of the stability if the balances by which different aspects are evaluated (concentration, stability, level of loyalty). The main source of stable resources &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;arises from&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; wholesale funding and retail customer 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:8pt;margin-left:0pt;' &gt;In order to establish the target (maximum) levels of LtSCD in e&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ach LMU and provide an optimal funding structure reference in terms of risk appetite, the corporate Structural Risks unit of GRM identifies and assesses the economic and financial variables that condition the funding structures in th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e different geographica&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;l areas.&lt;/font&gt;&lt;/p&gt;&lt;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;Additionally, liquidity and funding risk management aims to achieve a proper diversification of the funding structure, avoiding excessive reliance on short-term funding by establishing a maximum level for the short-term funds raised, including bot&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;h wholesale funding and customer funds. The residual maturity profile of long-term wholesale funding has no significant concentrations, which matches the schedule of planned issues to the best possible financial conditions of markets, as shown in the table&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; below. Finally, concentration risk is monitored at LMU level, with the aim of allowing a correct diversification of both the counterparty and type of 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:8pt;margin-left:0pt;' &gt;One of the fundamental metrics within the general management framework of the liquidity and f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;unding risk is the maintaining of a liquidity buffer consisting of high quality assets free of charges which can be sold or offered as guarantees to obtain funding, either under normal market conditions or in stress situations.&lt;/font&gt;&lt;/p&gt;&lt;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;The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Finance &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;area &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;is responsible for the collateral management and determining the liquidity buffer within &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;BBVA Group. According to the principle of auto-sufficiency of the subsidiaries, every LMU is responsible for the holding of a buffer of liquid assets which comply with the regulatory requirements applicable under each jurisdiction. In addition, the liquidity buffer of each LMU should be aligned with the liquidity and funding risk tolerance as well as the management limits set and approved for each case.&lt;/font&gt;&lt;/p&gt;&lt;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;In this cont&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ext, the short-term resistance of the liquidity risk profile is promoted, enabling that each LMU has sufficient collateral to deal with the risk of the close of wholesale markets. Basic capacity is the short-term liquidity risk management and control metri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;c that is defined as the relationship between the available explicit assets and the maturities of wholesale liabilities and volatile funds, at different terms up to one year, with special relevance being given to 30-day 90-day maturities, in order to maint&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ain the survivability period above the 3 months with the available buffer, not taking into consideration the inflows of the 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:8pt;margin-left:0pt;' &gt;Stress tests are carried out as a fundamental element of the liquidity and funding risk monitoring scheme. They enabl&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e anticipating deviations from the liquidity targets and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;limits set in the appetite, and establish&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ing&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; tolerance ranges in the different management areas. They also play a major role in the design of the Liquidity Contingency Plan and the definition of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;specific measures to be adopted to rectify the risk profile if necessary.&lt;/font&gt;&lt;/p&gt;&lt;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;For each scenario, it is checked whether BBVA has a sufficient stock of liquid assets to assist its capacity to meet the liquidity commitments/outflows in the different periods analy&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;zed. The analysis considers four scenarios: one central 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 ris&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;k by the banking intermediaries and the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ntity&amp;#8217;s customers; and a mixed scenario, as a combination of the two aforementioned scenarios). Each scenario considers the following factors: existing market liquidity, customer behavior and sources of funding, the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; impact of rating downgrades, market values of liquid assets and collateral, and the interaction between liquidity requirements and the development of the LMU&amp;#8217;s asset quality.&lt;/font&gt;&lt;/p&gt;&lt;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;The stress tests conducted on a regular basis reveal that BBVA maintains a suffi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;cient buffer of liquid assets to deal with the estimated liquidity outflows in a scenario resulting from the combination of a systemic crisis and an unexpected internal crisis, during a period of longer than 3 months in general for the different LMUs, incl&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;uding in the scenario &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;a significant downgrade of the Bank&amp;#8217;s rating 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:8pt;margin-left:0pt;' &gt;Together with the results of the stress tests and the risk metrics, the early warning indicators play an important role within the corporate model and the Liquidi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ty Contingency Plan. They are mainly indicators of the funding structure, in relation to asset encumbrance, counterparty concentration, flights of customer deposits, unexpected use of credit facilities, and of the market, which help anticipate possible ris&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ks and capture market expectations.&lt;/font&gt;&lt;/p&gt;&lt;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;Finance is the area responsible for the elaboration, monitoring, execution and update of the liquidity and funding plan and of the market access strategy to assist and improve the stability and diversification of the who&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lesale funding sources.&lt;/font&gt;&lt;/p&gt;&lt;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;In order to implement and establish management in an anticipated manner, limits are set on an annual basis for the main management metrics that form part of the budgeting process for the liquidity and funding plan. This framework of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; limits contributes to the planning of the joint future performance of:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The loan book, considering the types of assets and their degree of liquidity, as well as their validity as collateral in collateralized funding.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Stable customer funds, based on the app&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lication of a methodology for establishing which segments and customer balances are considered to be stable or volatile funds based on the principle of sustainability and recurrence of these funds.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Projection of the credit gap, in order to require a degree&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of self-funding that is defined in terms of the difference between the loan-book and stable customer funds.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Incorporating the planning of securities portfolios into the banking book, which include both fixed-interest and equity securities, and are classif&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ied as financial assets at fair value through other comprehensive income and at amortized cost, and additionally on trading portfolios.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The structural gap projection, as a result of assessing the funding needs generated both from the credit gap and by the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;securities portfolio in the banking book, together with the rest of on-balance-sheet wholesale funding needs, excluding trading portfolios. This gap therefore needs to be funded with customer funds that are not considered stable or on wholesale markets.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;As&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; a result of these funding needs, BBVA Group plans the target wholesale funding structure according to the tolerance set in each LMU target.&lt;/font&gt;&lt;/p&gt;&lt;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;Thus, once the structural gap has been identified and after resorting to wholesale markets, the amount and composit&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ion of wholesale structural funding is established in subsequent years, in order to maintain a diversified funding mix and support that there is not a high reliance on short-term funding (short-term wholesale funding plus volatile customer 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:8pt;margin-left:0pt;' &gt;In practice, the execution of the principles of planning and self-funding at the different LMUs results in the Group&amp;#8217;s main source of funding being customer deposits, which consist mainly of demand deposits, savings deposits and time deposits. &lt;/font&gt;&lt;/p&gt;&lt;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;As sources &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;of funding, customer deposits are complemented by access to the interbank market and the domestic and international capital markets in order to address additional liquidity requirements, implementing domestic and international programs for the issuance of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;commercial paper and medium and long-term debt.&lt;/font&gt;&lt;/p&gt;&lt;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;The process of analysis and assessment of the liquidity and funding situation and of the inherent risks is a process carried out on an ongoing basis in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;BBVA Group, with the participation of all the Group &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;areas involved in liquidity and funding risk management. This process is carried out at both local and corporate level. It is incorporated into the decision- making process for liquidity and funding management, with integration between the risk appetite st&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rategy and establishment and the planning process, the funding plan and the limits scheme.&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.4.3   Liquidity and funding performance&lt;/font&gt;&lt;/p&gt;&lt;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;During 2019, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;BBVA Group has maintained a robust and dynamic funding structure with a predominantly retail nature, where&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; customer resources represent the main source of funding.&lt;/font&gt;&lt;/p&gt;&lt;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;T&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he performance of the indicators show that the funding structure remained steady during 2019, 2018 and 2017, in the sense that all LMUs held self-funding levels with stable customer resources above&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the requirements.&lt;/font&gt;&lt;/p&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:465.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:465.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;LtSCD by LMU&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &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:110.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;December 2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;December 2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;December 2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:135pt;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:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Group (average)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;108%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;106%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;110%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Eurozone&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;108%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;101%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &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:135pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;114%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &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:13.15pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA USA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;111%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;119%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &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:13.15pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Garanti BBVA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;99%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;110%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &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:13.15pt;' &gt;&lt;td style='width:135pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:135pt;' &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:110.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;103%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;99%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:110.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:110.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;108%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/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:6pt;margin-left:0pt;' &gt;(*)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;BBVA USA&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; LCR calculated according to local regulation (Fed Modified LCR).&lt;/font&gt;&lt;/p&gt;&lt;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;Each entity maintains an individual liquidity buffer, both BBVA, S.A. and each of its subsidiaries, including BBVA USA, BBVA Mexico, Garanti BBVA&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and the Latin American subsidiaries.&lt;/font&gt;&lt;/p&gt;&lt;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;The table below shows the liquidity available by instrument as of December 31, 2019, 2018 and 2017 for the most significant entities based on prudential supervisor&amp;#8217;s information (Commission Implementing Regulations (EU&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;) 2017/2114 of November 9, 2017):&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:640.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:640.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;LCR main LMU&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:208.5pt;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:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Group &lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;129%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;127%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;128%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:208.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Eurozone&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;147%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;145%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &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:208.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;147%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;154%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &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:208.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA USA (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;145%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;143%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &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:208.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Garanti BBVA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;206%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;209%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &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:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;BBVA USA&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; LCR calculated according to local regulation (Fed Modified LCR).&lt;/font&gt;&lt;/p&gt;&lt;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;Each entity maintains an individual liquidity buffer, both BBVA, S.A. and each of its subsidiaries, including BBVA USA, BBVA Mexico, Garanti BBVA&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and the Latin American subsidiaries.&lt;/font&gt;&lt;/p&gt;&lt;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;The table below shows the liquidity available by instrument as of December 31, 2019, 2018 and 2017 for the most significant entities based on prudential supervisor&amp;#8217;s information (Commission Implementing Regulations (EU&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;) 2017/2114 of November 9, 2017):&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:489.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:489.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &gt;&lt;td style='width:208.5pt;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:208.5pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-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:#072146;' &gt;BBVA Eurozone&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: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:#072146;' &gt;BBVA Mexico&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: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:#072146;' &gt;BBVA USA&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: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:#072146;' &gt;Garanti BBVA&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: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:#072146;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:208.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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:56.25pt;border-top-style:solid;border-top-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;14,516&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,246&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,949&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,450&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,368&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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: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;41,961&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;7,295&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;11,337&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;7,953&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;3,593&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.95pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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: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;403&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;316&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;344&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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.95pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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: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;5,196&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;219&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;-&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&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.95pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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: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;22,213&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;1,269&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;952&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;669&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;586&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.95pt;' &gt;&lt;td style='width:208.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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: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;-&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;-&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;2,935&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;-&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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.95pt;' &gt;&lt;td style='width:208.5pt;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:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Cumulated counterbalancing capacity&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:#004481;' &gt;84,288&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:#004481;' &gt;15,344&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:#004481;' &gt;20,516&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:#004481;' &gt;15,072&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:#004481;' &gt;10,559&lt;/font&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:489.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:489.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2018 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30pt;' &gt;&lt;td style='width:208.5pt;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:208.5pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-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:#072146;' &gt;BBVA Eurozone&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: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:#072146;' &gt;BBVA Mexico&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: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:#072146;' &gt;BBVA USA&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: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:#072146;' &gt;Garanti BBVA&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: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:#072146;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:208.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &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:56.25pt;border-top-style:solid;border-top-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;26,506&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:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-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;1,667&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:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-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;6,677&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &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: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;29,938&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;4,995&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;10,490&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;6,502&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;3,652&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &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: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;449&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;409&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;510&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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &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: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;4,040&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;33&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;-&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;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &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: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;8,772&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;1,372&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;1,043&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;499&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;617&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:208.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &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: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;-&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;-&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;2,314&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;-&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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:208.5pt;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:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Cumulated counterbalancing capacity&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:#004481;' &gt;69,705&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:#004481;' &gt;14,475&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:#004481;' &gt;16,024&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:#004481;' &gt;14,634&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:#004481;' &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;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*) The balance of &amp;#8220;BBVA Eurozone&amp;#8221; has been reexpressed including the available funding in the European Central Bank (ECB)&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='6' rowspan='1' style='width:495pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:495pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2017 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &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:center;vertical-align:middle;border-color:Black;min-width:187.5pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;BBVA Eurozone (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;BBVA Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;BBVA USA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Garanti BBVA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:187.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:12.75pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:187.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:12.75pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:187.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;386&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;418&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;753&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:12.75pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:187.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;69&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:12.75pt;' &gt;&lt;td style='width:187.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:187.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,192&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,703&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,252&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;962&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,573&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:187.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:187.5pt;' &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:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,800&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:12.75pt;' &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:bottom;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Cumulated counterbalancing capacity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;70,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;14,644&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;15,983&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;13,359&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &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:6pt;margin-bottom:0pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(1) Includes Banco &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Bilbao Vizcaya Argentaria, S.A. and Banco Bilbao Vizcaya Argentaria (Portugal), S.A.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*) The balance of &amp;#8220;BBVA Eurozone&amp;#8221; has been reexpressed including the available funding in the European Central Bank (ECB)&lt;/font&gt;&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:8pt;margin-left:0pt;' &gt;The Net Stable Funding Ratio (NSFR), defined as &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the ratio between the amount of stable funding available and the amount of stable funding required, is one of the Basel Committee&amp;#39;s essential reforms, and requires banks to maintain a stable funding profile in relation to the composition of their assets an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d off-balance-sheet activities. This ratio should be at least 100% at all times. &lt;/font&gt;&lt;/p&gt;&lt;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;The NSFR of BBVA Group and its main LMUs at December 31, 2019, calculated based on the Basel requirements, 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:9pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:348.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:348.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;NSFR main LMU&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:87.75pt;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:87.75pt;' &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:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;December 2019&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:87.75pt;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:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Group &lt;/font&gt;&lt;/td&gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;120%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:87.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;BBVA Eurozone&lt;/font&gt;&lt;/td&gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;113%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:87.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;BBVA Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:261pt;text-align:center;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;130%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:87.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;BBVA USA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:261pt;text-align:center;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;116%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:87.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:87.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Garanti BBVA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:261pt;text-align:center;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;151%&lt;/font&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;Below is a matrix of res&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;idual maturities by contractual periods based on supervisory prudential reporting as of December 31, 2019, 2018 and 2017:&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='12' rowspan='1' style='width:690.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:690.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2019. Contractual maturities (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:62.25pt;' &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:center;vertical-align:middle;border-color:Black;min-width:187.5pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Demand &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Up to 1 month&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 3 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 6 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;6 to 9 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;9 to 12 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 2 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2 to 3 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 5 years &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Over 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:bottom;border-color:Black;min-width:187.5pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &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:28.5pt;' &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;Cash, cash balances at central banks and other demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20,954&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20,654&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;41,608&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17.25pt;' &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;color:#000000;' &gt;Deposits in credit entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,591&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;283&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;488&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;585&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;503&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;189&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;432&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;6,216&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &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;Deposits in other financial institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;796&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;589&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;991&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,420&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,072&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;672&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,089&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;10,084&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &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;color:#000000;' &gt;Reverse repo, securities borrowing and margin lending&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21,612&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,858&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,287&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;561&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;808&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,121&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,838&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;411&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;803&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;36,299&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17.25pt;' &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;color:#000000;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;157&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,015&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25,056&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24,994&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,777&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,404&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42,165&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35,917&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;54,772&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;122,098&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;359,354&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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;Securities&amp;#39; portfolio settlement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,622&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,873&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,620&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,292&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21,334&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,115&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,240&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46,022&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;108,136&lt;/font&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:690.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:690.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2019. 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:187.5pt;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:187.5pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Demand &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Up to 1 month&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 3 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 6 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;6 to 9 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;9 to 12 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 2 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2 to 3 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 5 years &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Over 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:bottom;border-color:Black;min-width:187.5pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&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;Wholesale funding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,393&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,208&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,645&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,386&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,328&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,608&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,803&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27,840&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;70,927&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;Deposits in financial institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,377&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,608&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;493&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;172&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,514&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;386&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;614&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;206&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;510&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;20,004&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &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;color:#000000;' &gt;Deposits in other financial institutions and international agencies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,177&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,859&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;867&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;381&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;367&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;257&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;982&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;503&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;499&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;952&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;18,843&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;Customer deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;271,638&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43,577&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18,550&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,266&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,605&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,717&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,062&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;854&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,039&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;365,321&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;color:#000000;' &gt;Security pledge funding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45,135&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,202&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,801&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,456&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;653&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,393&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,206&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;759&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,308&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;78,914&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;color:#000000;' &gt;Derivatives, net&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(66)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,097&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(830)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(278)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(333)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(420)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(838)&lt;/font&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:690.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:690.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2018. 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:187.5pt;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:187.5pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Demand &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Up to 1 month&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 3 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 6 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;6 to 9 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;9 to 12 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 2 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2 to 3 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 5 years &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Over 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:bottom;border-color:Black;min-width:187.5pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &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:27.75pt;' &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;Cash, cash balances at central banks and other demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;50,149&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17.25pt;' &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;color:#000000;' &gt;Deposits in credit entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;801&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;216&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;141&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;152&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;133&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;178&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;6,211&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &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;Deposits in other financial institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;750&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;664&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;647&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;375&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;896&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;10,515&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &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;color:#000000;' &gt;Reverse repo, securities borrowing and margin lending&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;805&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;498&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;205&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;390&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;210&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;27,539&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17.25pt;' &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;color:#000000;' &gt;Loans and Advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;132&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;349,334&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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;Securities&amp;#39; portfolio settlement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &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:690.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:690.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2018. 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:187.5pt;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:187.5pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Demand &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Up to 1 month&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 3 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 6 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;6 to 9 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;9 to 12 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 2 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2 to 3 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 5 years &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Over 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:bottom;border-color:Black;min-width:187.5pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&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;Wholesale funding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;69,858&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;Deposits in financial institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;751&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;377&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;229&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;196&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;904&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;19,544&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &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;color:#000000;' &gt;Deposits in other financial institutions and international agencies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;458&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;302&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;309&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;781&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;304&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;825&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;21,258&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;Customer deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;350,518&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;color:#000000;' &gt;Security pledge funding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;114&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;97&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;526&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;218&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;76,515&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;color:#000000;' &gt;Derivatives, net&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(75)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(523)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(68)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(117)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;498&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(91)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(67)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(392)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &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:690.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:690.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:187.5pt;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:187.5pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Demand &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Up to 1 month&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 3 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 6 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;6 to 9 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;9 to 12 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 2 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2 to 3 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 5 years &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Over 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:bottom;border-color:Black;min-width:187.5pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &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;Cash, cash balances at central banks and other demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;39,208&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;Deposits in credit entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;252&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;181&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;169&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;112&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;157&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;7,488&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;Deposits in other financial institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;939&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;758&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;796&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;628&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;447&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;681&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;806&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;8,060&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &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;color:#000000;' &gt;Reverse repo, securities borrowing and margin lending&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;541&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;426&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;815&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;727&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;226&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;26,354&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;Loans and Advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;267&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;358,028&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;Securities&amp;#39; portfolio settlement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &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:690.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:690.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:187.5pt;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:187.5pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Demand &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Up to 1 month&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 3 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 6 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;6 to 9 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;9 to 12 months&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 2 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2 to 3 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 5 years &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Over 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:bottom;border-color:Black;min-width:187.5pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&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;Wholesale funding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;76,535&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;color:#000000;' &gt;Deposits in financial institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;392&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;930&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;765&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;171&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;21,512&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;color:#000000;' &gt;Deposits in other financial institutions and international agencies&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;554&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;963&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;286&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;355&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;25,307&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;color:#000000;' &gt;Customer deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;341,448&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;color:#000000;' &gt;Security pledge funding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;396&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;973&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;338&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;65,668&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;color:#000000;' &gt;Derivatives, net&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(110)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(116)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(135)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(117)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(336)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(91)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(106)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(419)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &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;p style='text-align:justify;margin-top:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The matrix shows the retail nature of the funding structure, with a loan portfolio being mostly funded by customer deposits. On the outflows side of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 little concentration. According to a behavior analysis which is done every year in every entity, t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;his type of account is considered to be stable and for liquidity risk purposes&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; receive a better treatment.&lt;/font&gt;&lt;/p&gt;&lt;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;In the Euro Liquidity Management Unit (LMU), the liquidity and funding position continued to be solid and stable with a slightly increase of the cred&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;it gap in 2019. During 2019, BBVA, S.A. made 7 issues in the public market for an aggregate of &amp;#8364;5,750 million and USD 1,000 million; two issues of Senior Non Preferred (&amp;#8220;SNP&amp;#8221;) securities at 5 years for &amp;#8364;1,000 million each and another one at 7 years for &amp;#8364;1,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;000 million; a T2 issue at 10 years with an early amortization option after the fifth year for &amp;#8364;750 million; two AT1 issues for &amp;#8364;1,000 million and USD 1,000 million respectively with an early amortization option after five and a half years for the first an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d 5 years for the second; and a Senior Preferred securities issue at 7 years for &amp;#8364;1,000 million&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;In Mexico, there was a sound liquidity position despite the credit gap increase in 2019. This increase is mainly due to a lower increase in deposits as a resul&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t of higher market competition. During the financial year 2019, BBVA Mexico made a Tier II issuance on international markets for USD 750 million as well as carried out a repurchase for the same amount as part of two subordinated issuances with a maturity &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2020 and 2021 which were no longer computing in capital ratios. They also made an issuance on the local market for 10,000 million of Mexican pesos in 2 tranches: 5,000 million at 3 years and 5,000 million at 8 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:8pt;margin-left:0pt;' &gt;In the United States, a&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;positive&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; liqu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;idity situation has been maintained with a decrease in the credit gap during the year mainly as a result of an increase in the deposits which has allowed to reduce the dependency on brokered deposits. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;During the third quarter of 2019&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, BBVA USA issued succe&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ssfully a Senior debt note of USD 600 million at 5 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:8pt;margin-left:0pt;' &gt;In Turkey we closed the year with &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;a satisfactory&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; liquidity situation, with Garanti BBVA showing an evolution of the credit gap in foreign currency and therefore reducing the wholesale financing, allowing throughout &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;a passable&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; buffer of liquid assets. The main operations during the year were two syndicat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ed loans for USD 1,600 million, a subordinated issuance for an amount of 252 million of Turkish lira (&amp;#8364;39 million) and a securitization (Diversified Payment Rights) for USD 150 million.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; In addition, Garanti &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;BBVA &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;financed itself with a bilateral &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;loan for an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; amount of USD 322 million and issued a green bond for USD 50 million in December 2019. Furthermore, additional bilateral funds for USD 110 million have been signed in December 2019.&lt;/font&gt;&lt;/p&gt;&lt;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;Argentina was affected by the change in the political situation generatin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;g a reduction of deposits and credits in foreign currency in the banking system. In this context, BBVA Argentina has maintained at any time a &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;satisfactory&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; liquidity position supported by higher requirements of regulatory reserve regulations. BBVA Argentina&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; issued 1,619 million of Argentine pesos (&amp;#8364;24 million) in the local market in the first quarter of 2019 and later, in the fourth quarter, issued an additional 1,967 million of Argentine pesos (&amp;#8364;29 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:8pt;margin-left:0pt;' &gt;The liquidity position of the rest of subsidiarie&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s has continued to be sound, maintaining a &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;satisfactory&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; liquidity position in all the jurisdictions &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;in which the Group operates.&lt;/font&gt;&lt;/p&gt;&lt;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;In this context, BBVA has maintained its objective of strengthening the funding structure of the different Group entities based&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; on growing their self-funding from stable customer funds, while enabling 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 st&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ress situations in the markets.&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;7.4.4   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:8pt;margin-left:0pt;' &gt;As of December 31, 2019, 2018 and 2017, the encumbered (those provided as collateral for certain liabilities) and 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:480.75pt;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:#02A5A5;' &gt;December 2019 (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-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:10pt;color:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:154.5pt;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:154.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:154.5pt;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:154.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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:#FFFFFF;' &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:#072146;' &gt;Book value &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:#072146;' &gt;Market value&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:#072146;' &gt;Book value &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:#072146;' &gt;Market value &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:#004481;' &gt;Assets&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;101,792&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;596,898&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;/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: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;3,526&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;3,526&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;12,113&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;12,113&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: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;29,630&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;29,567&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;95,611&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;95,611&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: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;68,636&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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;489,174&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:77.25pt;' &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;table style='border-collapse:collapse;' &gt;&lt;tr style='height:12pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:486pt;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:#02A5A5;' &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:177pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:154.5pt;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:154.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:154.5pt;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:154.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Non-encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:29.25pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:177pt;' &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: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:#072146;' &gt;Book value &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:#072146;' &gt;Market value&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:#072146;' &gt;Book value &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:#072146;' &gt;Market value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:177pt;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:177pt;' &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: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;107,950&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;&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;567,573&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:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:177pt;' &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: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;1,864&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;1,864&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;6,485&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;6,485&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:177pt;' &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: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;31,157&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;32,216&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;82,209&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;82,209&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:177pt;' &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: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;74,928&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#A7A7A7;' &gt;-&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;478,880&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#A7A7A7;' &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:486pt;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:#02A5A5;' &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:177pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000080;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:154.5pt;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:154.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:154.5pt;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:154.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Non-encumbered assets&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25.5pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:177pt;' &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: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:#072146;' &gt;Book value&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:#072146;' &gt;Market value&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:#072146;' &gt;Book value&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:#072146;' &gt;Market value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:177pt;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:177pt;' &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: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;110,600&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;579,459&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;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:177pt;' &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: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;2,297&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;2,297&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;9,616&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;9,616&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:177pt;' &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: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;28,700&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;29,798&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;84,391&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;84,391&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:177pt;' &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: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;79,604&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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;485,451&lt;/font&gt;&lt;/td&gt;&lt;td style='width:77.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:77.25pt;' &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:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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, territorial bonds or long-term securitized bonds (see Note 22.4) as well as those us&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ed 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, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and to a lesser extent central banks. Collateral provided to enable 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:8pt;margin-left:0pt;' &gt;As of December 31, 2019, 2018 and 2017, collateral pledges received mainly due to repurchase agreements and securities lending&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, 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: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:8pt;color:#02A5A5;' &gt;December 2019. 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:208.5pt;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:208.5pt;' &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:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Fair value of encumbered collateral received or own debt securities issued&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:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Fair value of collateral received or own debt securities issued available for encumbrance&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:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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:208.5pt;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:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Collateral received&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:right;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;38,496&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:right;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;9,208&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:right;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;48&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:208.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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: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:8pt;color:#000000;' &gt;65&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:8pt;color:#000000;' &gt;70&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:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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:93pt;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;38,431&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,130&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &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:12pt;' &gt;&lt;td style='width:208.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;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 style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &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:208.5pt;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:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Own debt securities issued other than own covered bonds or ABSs&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:right;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;-&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:right;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;82&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:right;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;-&lt;/font&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: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:8pt;color:#02A5A5;' &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:208.5pt;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:208.5pt;' &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:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Fair value of encumbered collateral received or own debt securities issued&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:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Fair value of collateral received or own debt securities issued available for encumbrance&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:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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:208.5pt;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:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Collateral received&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:right;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;27,474&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:right;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;5,633&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:right;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;319&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:208.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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: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:8pt;color:#000000;' &gt;89&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:8pt;color:#000000;' &gt;82&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:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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:93pt;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &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:93pt;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &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:93pt;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &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:208.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;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 style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &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:208.5pt;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:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Own debt securities issued other than own covered bonds or ABSs&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:right;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;78&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:right;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;87&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:right;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;-&lt;/font&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: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:8pt;color:#02A5A5;' &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:208.5pt;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:208.5pt;' &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:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Fair value of encumbered collateral received or own debt securities issued&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:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Fair value of collateral received or own debt securities issued available for encumbrance&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:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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:208.5pt;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:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Collateral received&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:right;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;23,881&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:right;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;9,630&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:right;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;201&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:208.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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: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:8pt;color:#000000;' &gt;103&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:8pt;color:#000000;' &gt;5&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:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:208.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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:93pt;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &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:93pt;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &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:93pt;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &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:208.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:208.5pt;' &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:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;63&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:93pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:93pt;' &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:208.5pt;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:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Own debt securities issued other than own covered bonds or ABSs&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:right;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;3&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:right;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;161&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:right;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;-&lt;/font&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:8pt;margin-left:0pt;' &gt;The guarantees received in the form of reverse repurchase agreements or security lending &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;transactions are committed by their use in repurchase agreements, as is&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &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:8pt;margin-left:0pt;' &gt;As of December 31, 2019, 2018 and 2017, financial liabilities issued related to encumbered assets in financial transactions as well as their book value w&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ere as follows&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:12pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:468pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:468pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2019. Sources of encumbrance (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:67.5pt;' &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: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:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Matching liabilities, contingent liabilities or securities lent&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Assets, collateral received and own&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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: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:#004481;' &gt;Book value of financial liabilities&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;124,252&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;135,500&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;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:108.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19,066&lt;/font&gt;&lt;/td&gt;&lt;td style='width:108.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20,004&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;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:108.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;87,906&lt;/font&gt;&lt;/td&gt;&lt;td style='width:108.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;94,240&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;Outstanding subordinated debt&lt;/font&gt;&lt;/td&gt;&lt;td style='width:108.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17,280&lt;/font&gt;&lt;/td&gt;&lt;td style='width:108.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21,256&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;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:#004481;' &gt;Other sources&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;449&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;4,788&lt;/font&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:468pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:468pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2018. 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: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:#FFFFFF;' &gt;&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Matching liabilities, contingent liabilities or securities lent&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Assets, collateral received and own&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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: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:#004481;' &gt;Book value of financial liabilities&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;113,498&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;131,172&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;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:108.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &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:108.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &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: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;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:108.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &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:108.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &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: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;Outstanding subordinated debt&lt;/font&gt;&lt;/td&gt;&lt;td style='width:108.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &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:108.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &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: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:#004481;' &gt;Other sources&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;3,972&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:108.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &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: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:#02A5A5;' &gt;December 2017. 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:255.75pt;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:255.75pt;' &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: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:8pt;font-weight:bold;color:#072146;' &gt;Matching liabilities, contingent liabilities or securities lent&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:8pt;font-weight:bold;color:#072146;' &gt;Assets, collateral received and own&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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:255.75pt;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:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Book value of financial liabilities&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:8pt;font-weight:bold;color:#004481;' &gt;118,704&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:8pt;font-weight:bold;color:#004481;' &gt;133,312&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:255.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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:8pt;color:#000000;' &gt;11,843&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: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:255.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:255.75pt;' &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:114pt;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &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:114pt;text-align:right;vertical-align:middle;border-color:Black;min-width:114pt;' &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:255.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:255.75pt;' &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: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:8pt;color:#000000;' &gt;19,377&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: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:255.75pt;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:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Other sources&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:8pt;font-weight:bold;color:#004481;' &gt;305&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:8pt;font-weight:bold;color:#004481;' &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: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;7.5   Legal 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:8pt;margin-left:0pt;' &gt;The financial sector is exposed to increasing litigation, so the financial institutions face a large number of proceedings of every kind, civil, criminal, administrative, litigation,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; as well as investigations from the supervisor or other governmental authorities, along several jurisdictions, which consequences are difficult to determine (including those procedures in which an undetermined number of applicants is involved, in which dam&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ages claimed are not easy to estimate, in which an exorbitant amount is claimed, in which new jurisdictional issues are introduced under creative non &amp;#8211; contrasted legal arguments and those which are at a very initial stage).&lt;/font&gt;&lt;/p&gt;&lt;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;In Spain, in many of the existi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ng procedures, applicants claim, both at Spanish courts and through preliminary rulings towards the European Union Court of Justice that various clauses usually included under a mortgage loan with credit institutions are stated abusive (including mortgage &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;fees clauses, early redemption right clause, referenced inter&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;est rate type and opening fee).&lt;/font&gt;&lt;/p&gt;&lt;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;In particular, with regards to consumer mortgage loan agreements linked to the mortgage loan reference index (&amp;#205;ndice de Referencia de los Pr&amp;#233;stamos Hipotecarios &amp;#8212; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;mortgage loan reference index) (IRPH), which is the average interest rate calculated by the Bank of Spain and published in the Official Spanish Gazette (Bolet&amp;#237;n Oficial del Estado) for mortgage loans of more than three years for freehold housing purchases &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;granted by Spanish credit institutions and which is considered the &amp;#8220;official interest rate&amp;#8221; by mortgage transparency regulations, on 14th December, 2017 the Spanish Supreme Court, in its Ruling No 669/2017 (the Ruling), held that it was not possible to det&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ermine that a loan&amp;#39;s interest rate was not transparent simply due to it making reference to one official rate or another, nor can its terms then be confirmed as unfair under the provisions of Directive 93/13/EEC of 5th April, 1993. As of the date of this A&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nnual Report, a preliminary ruling is pending in which the Ruling is being challenged before the Court of Justice of the European Union. BBVA considers that the Ru&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ling is clear and well founded.&lt;/font&gt;&lt;/p&gt;&lt;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;On 10th September, 2019, the Advocate General of the Court of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; Justice of the European Union &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;issued a report on this matter.&lt;/font&gt;&lt;/p&gt;&lt;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;In that report, the Advocate General of the Court of Justice of the European Union concluded that the bank to which the preliminary ruling relates (Bankia, S.A.) complied with the requirement o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;f transparency imposed by the applicable European regulation. The Advocate General also indicated that it is for the national courts to carry out the checks they consider necessary in order to analyze compliance with the applicable transparency obligations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; in each individual case.&lt;/font&gt;&lt;/p&gt;&lt;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;The Advocate General&amp;#39;s report does not bind the decision which the Court of Justice of the European Union may take finall&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;y on this matter 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:8pt;margin-left:0pt;' &gt;It is therefore necessary to await the Court of Justice of the European Union&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8217;s ruling on the matter referred in the preliminary ruling in order to determine whether i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t may have any effect on BBVA.&lt;/font&gt;&lt;/p&gt;&lt;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;The impact of any potential unfavorable ruling by the Court of Justice of the European Union is difficult to predict at this time, but &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;could be material. The impact of such a resolution may vary depending on matters such as (i) the decision of the Court of Justice of the European Union on what interest rate should be applied to the applicable loans; and (ii) whether the effects of the jud&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;gment are applied retroactively. According to the latest available information, the amount of mortgage loans to individuals linked to IRPH and up to date with the payment is approximately &amp;#8364;2,800 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:8pt;margin-left:0pt;' &gt;In addition, there are also claims before the Spanis&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;h courts challenging the application of certain interest rates and other mandatory rules to certain revolving credit card agreements. The resolutions in this type of proceedings against the Group or other banking entities may directly or indirectly affect &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the 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:8pt;margin-left:0pt;' &gt;The Group is involved in several competition investigations and other legal actions related to competition initiated by third parties in various countries which may give raise to penalties and claims by 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:8pt;margin-left:0pt;' &gt;Spanish judicial authorities are investigating the activities of Centro Exclusivo de Negocios y Transacciones, S.L. (&amp;#8220;Cenyt&amp;#8221;). Such investigation includes the provision of services by Cenyt to the Bank. On July 29, 2019, the Bank was named as an investigated party (investigado) in a criminal judicial investigation (Preliminary Proceeding No. 96/2017 &amp;#8211; Piece No. 9, Central Investigating Court No. 6 of the National High Court) for alleged facts which could represent the crimes of bribery, revelation of secrets and corruption. As at the date of this Annual Report, no formal accusation against the Bank has been made. Certain current and former officers and employees of the Group, as well as former directors of the Bank, have also been named as investigated parties in connection with this investigation. The Bank has been and continues to be proactively collaborating with the Spanish judicial authorities, including sharing with the courts information from its on-going forensic investigation regarding its relationship with Cenyt. The Bank has also testified before the judge and prosecutors at the request of the Central Investigating Court No. 6 of the National High Court. &lt;/font&gt;&lt;/p&gt;&lt;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;On February 3, 2020, the Bank was notified by the Central Investigating Court No. 6 of the National High Court of the order lifting the secrecy of the proceedings. &lt;/font&gt;&lt;/p&gt;&lt;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;This criminal judicial proceeding is at a preliminary stage. Therefore, it is not possible at this time to predict the scope or duration of such proceeding or any related proceeding or its or their possible outcomes or implications for the Group, including any fines, damages or harm to the Group&amp;#8217;s reputation caused thereby&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFinancialRiskManagementExplanatory>
  <ifrs-full:DisclosureOfIntangibleAssetsExplanatory id="ID_10047" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;18.   Intangible&lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt; assets&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;18.1   Goodwill&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:8pt;margin-left:0pt;' &gt;The breakdown of the balance under this heading in the accompanying consolidated balance sheets, according to the cash-generating unit (hereinafter &amp;#8220;CGU&amp;#8221;) to which goodwill has&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; been allocated, 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:15pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:497.25pt;border-bottom-style:solid;border-bottom-width:1;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:8pt;color:#5AC4C4;' &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:15pt;' &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:#44546A;' &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;The United States&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;Turkey&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;Mexico&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;Colombia&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;Chile&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;Other&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;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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:#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;border-color:Black;min-width:51pt;' &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: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;&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;&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;&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;&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;&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;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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:#5AC4C4;border-color:Black;min-width:140.25pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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:15pt;' &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;Additions &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;-&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;24&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;-&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;24&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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;Exchange difference&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;(666)&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;(115)&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;(44)&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)&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;(3)&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;(1)&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;(851)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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;Impairment&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;-&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;-&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;(4)&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;(4)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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;Other&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;-&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;(10)&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;(33)&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;(43)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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:#5AC4C4;border-color:Black;min-width:140.25pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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:15pt;' &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;Exchange difference&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;229&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;(127)&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;26&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)&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;(3)&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;118&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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:#5AC4C4;border-color:Black;min-width:140.25pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &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;tr style='height:15pt;' &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;Exchange difference&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;98&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;(36)&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;31&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;3&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;(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;(1)&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;93&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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;Impairment&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;(1,318)&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;-&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;-&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;(1,318)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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:#5AC4C4;border-color:Black;min-width:140.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Balance as of December 31, 2019&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,846&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;346&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;550&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;164&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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;22&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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,955&lt;/font&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:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;margin-left:0pt;color:#004580;' &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:8pt;margin-left:0pt;' &gt;There were no significant business combinations during 2019, 2018 and 2017.&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:8pt;font-weight:bold;margin-left:0pt;color:#004580;' &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:8pt;margin-left:0pt;' &gt;As mentioned in Note 2.2.8&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, the CGUs to which goodwill has been allo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;cated, 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:8pt;margin-left:0pt;' &gt;The BBVA Group performs estimations on the recovera&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ble amount of certain CGU&amp;#180;s by calculating the value in use through the discounted value of future cash flows 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:8pt;margin-left:0pt;' &gt;The main hypotheses used for the value in use calculation are the following:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The forecast cash flows, including net interest margin, estim&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ated by the Group&amp;#39;s management, and based on the latest available budgets for the next 3 to 5 years, considering the macroeconomic variables of each CGU, regarding the existing balance structure as well as macroeconomic variables such as the evolution of i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nterest rates and the CPI of the geography where the CGU is located, among others.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The constant sustainable growth rate for extrapolating cash flows, starting in the third or fifth year, beyond the period covered by the budgets or forecasts.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The discount r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ate 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.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;The focus used by the Group&amp;#39;s management to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;determine the values of the assumptions is based both on its projections and past experience. These values are verified and use external sources of information, wherever possible. Additionally, the valuations of the goodwill of the CGUs of The United State&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s and Turkey have been reviewed by independent experts (not the Group&amp;#39;s external auditors). However, certain changes to the valuation assumptions used could cause differences in the 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:8pt;margin-left:0pt;' &gt;As a result of the goodwill impairment tests perfo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rmed by the Group as of December 31, 2019, the Group estimated impairment losses in the United States CGU, which have been recognized under &amp;#8220;Impairment or reversal of impairment on non-financial assets - Intangible assets&amp;#8221; in the accompanying consolidated &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;income statement as of December 31, 2019, assigned to the Group Corporate Center. This impairment had a net negative impact on the &amp;#8220;Profit for the year &amp;#8211; attributable to owners of the parent&amp;#8221; of &amp;#8364;1,318 million, which is mainly as a result &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the negative e&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;volution of interest rates, especially in the second half of the year, which accompanied by the slowdown of the economy causes the expected evolution of results below the previous estimation. This recognition does not affect the Tangible Net Equity or the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;solvency ratio of the BBVA Group.&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:8pt;margin-left:0pt;' &gt;As of December 31, 2018 and 2017, no impairment has been identified in any of the main CGUs.&lt;/font&gt;&lt;/p&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:8pt;margin-left:0pt;color:#004580;' &gt;Goodwill - The 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:8pt;margin-left:0pt;' &gt;The Group&amp;#8217;s most significan&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t g&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;oodwill&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;corresponds to the CGU in the United States, the main &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;significant assumptions used in the impairment test of this mentioned CGU are:&lt;/font&gt;&lt;/p&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: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:#02A5A5;' &gt;Impairment test assumptions 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:297.75pt;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:297.75pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:297.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:297.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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;/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:8pt;margin-left:0pt;' &gt;In accordance with paragraph 33.c of IAS 36, as of December 31, 2019, the Group used a steady growth rate of 3.5% based on the real GDP growth rate&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of the United States, the expected inflation and the potential growth of the banking sector in the United States. This 3.5% rate is lower than the historical average of the past 30 years of the nominal GDP rate of the United States and lower than the real&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; GDP growth forecasted by the IMF.&lt;/font&gt;&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:8pt;margin-left:0pt;' &gt;The assumptions with a greater relative weight and whose volatility could have a greater impact in determining the present value of the cash flows starting on the fifth year are the discount rate and the sustainable growt&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;h rate. Below is shown the increased (or decreased) amount of the CGU recoverable amount as a result of a reasonable variation (in basis points) of each of the key assumptions as of December 31, 2019:&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: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:#02A5A5;' &gt;Sensitivity analysis for main assumptions - The United States (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:36pt;' &gt;&lt;td style='width:213.75pt;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:213.75pt;' &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:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Increase of 50 basis points (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;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:213.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:135pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(871)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:135pt;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;340&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(292)&lt;/font&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:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Based on historical&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; 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&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Below is shown the increased (or decreased) amount of the CGU recoverable amount as&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; a result of a reasonable variation (in basis points) of each of the key assumptions as of December 31, 2018 and 2017:&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:753.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:753.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Sensitivity analysis for main assumptions - The United States (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td style='width:213.75pt;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:213.75pt;' &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:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Increase of 50 basis points 2018 (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Decrease of 50 basis points 2018 (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Increase of 50 basis point 2017 (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Decrease of 50 basis point 2017 (*)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:213.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:135pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &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:135pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,176&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,159)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &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:12.75pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:135pt;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;526&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(451)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;661&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(559)&lt;/font&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:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Based on historical changes, the use of 50 basis points to calculate the sensitivity analysis wou&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;ld be a reasonable variation with respect to the observed variations over the last five years&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:10pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;color:#004580;' &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:8pt;margin-left:0pt;' &gt;The main significant assumptions used in the impairment test of the CGU of Turkey 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:471.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:471.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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: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:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.45pt;' &gt;&lt;td style='width:287.25pt;border-top-style:solid;border-top-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;color:#000000;' &gt;Discount rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17.4%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.45pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:8pt;margin-left:0pt;' &gt;Given the potential &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;growth of the sector in Turkey, in accordance with paragraph 33.c of IAS 36, as of December 31, 2019, 2018 and 2017 the Group used a steady growth rate of 7.0% based on the real GDP growth rate of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; Turkey and expected inflation.&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:8pt;margin-left:0pt;' &gt;The assumptions with a great&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;er 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 recover&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;able amount as a result of a reasonable variation (in basis points) of each of the key assumptions as of December 31, 2019:&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: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:#02A5A5;' &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:213.75pt;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:213.75pt;' &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:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Impact of an increase of 50 basis points&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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:213.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:135pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(192)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;212&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.9pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:135pt;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &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;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Below is shown the increased (or decreased) amount of the CGU recoverable amount as a result of a &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;reasonable variation (in basis points) of each of the key assumptions as of December 31, 2018 and 2017:&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:753.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:753.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Sensitivity analysis for main assumptions - Turkey (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td style='width:213.75pt;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:213.75pt;' &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:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Increase of 50 basis points 2018 (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Decrease of 50 basis points 2018 (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Increase of 50 basis point 2017 (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Decrease of 50 basis point 2017 (*)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:213.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:135pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(149)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;158&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(298)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;327&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:135pt;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(37)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;214&lt;/font&gt;&lt;/td&gt;&lt;td style='width:135pt;text-align:right;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(196)&lt;/font&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:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &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:6pt;' &gt;ariation with respect to the observed variations over the last five years&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:10pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;color:#004580;' &gt;Goodwill -  Other CGUs&lt;/font&gt;&lt;/p&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:8pt;margin-left:0pt;' &gt;The sensitivity analysis on the main hypotheses carried out for the rest of the CGUs of the Group indicate that their value in use would continue to exceed &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;their book 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: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;18.2   Other intangible assets&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &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:8pt;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: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:#02A5A5;' &gt;Other intangible assets (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27.75pt;' &gt;&lt;td style='width:266.25pt;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:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#44546A;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:266.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Computer software acquisition expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,598&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,682&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &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:52.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:12pt;' &gt;&lt;td style='width:266.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &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:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;401&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;518&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;708&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:266.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:266.25pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,010&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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;/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:8pt;margin-left:0pt;' &gt;The changes of this &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;heading in December 31, 2019, 2018 and 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:13.5pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:474.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:474.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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: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:#0A5FB4;' &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:#072146;' &gt;Notes&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:#072146;' &gt;2019&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:#072146;' &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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &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:#5AC4C4;border-color:Black;min-width:276.75pt;' &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:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;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:#5AC4C4;border-color:Black;min-width:49.5pt;' &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: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:#5AC4C4;border-color:Black;min-width:49.5pt;' &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: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:#5AC4C4;border-color:Black;min-width:49.5pt;' &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;tr style='height:14.25pt;' &gt;&lt;td style='width:276.75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-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;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;533&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;552&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;564&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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:49.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:8pt;color:#000000;' &gt;(620)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(614)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(694)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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:49.5pt;text-align:center;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;(123)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &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:15pt;' &gt;&lt;td style='width:276.75pt;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;color:#000000;' &gt;Impairment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;color:#000000;' &gt;48&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;(12)&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;(83)&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;(12)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &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:#5AC4C4;border-color:Black;min-width:276.75pt;' &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:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;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:#5AC4C4;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,010&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:#5AC4C4;border-color:Black;min-width:49.5pt;' &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: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:#5AC4C4;border-color:Black;min-width:49.5pt;' &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;/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:8pt;margin-left:0pt;' &gt;As of December 31, 2019, 2018 and 2017, the cost of fully amortized intangible assets that remained in use were &amp;#8364;2,702 million, &amp;#8364;2,412 million, and &amp;#8364;1,969 million re&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;spectively, while their recoverable value was not significant.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfIntangibleAssetsExplanatory>
  <bbva:Disclosureoftaxassetsandliabiltiiesexplanatory id="ID_10048" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;19   Tax assets and liabilities&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;19.1   Consolidated tax 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:8pt;margin-left:0pt;' &gt;Pursuant to current legislation, BBVA consolidated tax group in Spain 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:8pt;' &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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The Group&amp;#8217;s non-Spanish banks and subsidiaries file tax returns in accordance with the tax legislation in force in each coun&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;try.&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;19.2   Years open for review by the tax 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:8pt;margin-left:0pt;' &gt;The years open to review in the BBVA consolidated tax group in Spain as of December 31, 2019 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:8pt;margin-left:0pt;' &gt;The remainder of the Spanish consolidated ent&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ities 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:8pt;margin-left:0pt;' &gt;In the year 2017 as a c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;onsequence 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. These inspections did not result in any material amount to record in the Cons&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;olidated Annual accounts as their impact was previously provisioned for.&lt;/font&gt;&lt;/p&gt;&lt;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;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 autho&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rities 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 c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ase, the 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;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;19.3   Reconciliation&lt;/font&gt;&lt;/p&gt;&lt;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;The reconciliation of the Group&amp;#8217;s corporate income tax expense resulting from the application of t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he Spanish 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:488.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:488.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Reconciliation of taxation at the Spanish corporation tax rate to the tax expense recorded for the year&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:213.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:213.75pt;' &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:91.5pt;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:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:91.5pt;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:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:91.5pt;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:91.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.9pt;' &gt;&lt;td style='width:213.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Effective tax &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Effective tax &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Effective tax &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:213.75pt;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:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Profit or (-) loss before tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;6,398&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;8,446&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;6,931&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &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:213.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,398&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,920&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(381)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(234)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(307)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Mexico &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(112)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(78)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(100)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:11.45pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Chile &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(29)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Colombia &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;32%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:11.45pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Peru &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(16)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:11.45pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(86)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(132)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(182)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Others (***)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(175)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(49)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(57)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(53)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:213.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;545&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(27)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;457&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:213.75pt;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:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Income tax&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2,053&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2,219&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2,174&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &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:213.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: Continuing operations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;2,053&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;2,219&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;2,174&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:6pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*)    &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Calculated by applying the difference between the tax rate in force in Spain and th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;e one applied to the Group&amp;#8217;s earnings in each jurisdiction.&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:6pt;margin-left:0pt;' &gt;(**)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;The amount of 2019 is generated as a result of the impact of the impairment of goodwill in The United States&amp;#39; CGU (see Note 18.1).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(***)  Includes mainly the United States.&lt;/font&gt;&lt;/p&gt;&lt;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;The effective in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;come tax rate for the Group in the years ended December 31, 2019, 2018 and 2017 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:497.25pt;border-bottom-style:solid;border-bottom-width:1;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:8pt;color:#02A5A5;' &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: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:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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;Income from:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &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:52.5pt;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:52.5pt;' &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:52.5pt;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:52.5pt;' &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:52.5pt;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:52.5pt;' &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:287.25pt;border-top-style:solid;border-top-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;color:#000000;' &gt;Consolidated tax group in Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(718)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(678)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:52.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:11.45pt;' &gt;&lt;td style='width:287.25pt;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;color:#000000;' &gt;Foreign entities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,580&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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;background-color:#5AC4C4;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Gains (losses) before taxes from continuing operations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,398&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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;/tr&gt;&lt;tr style='height:11.45pt;' &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;color:#000000;' &gt;Tax expense or income related to profit or loss from continuing operations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,053&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &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:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,174&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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;background-color:#5AC4C4;border-color:Black;min-width:287.25pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;32.1%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;26.3%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;31.4%&lt;/font&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:8pt;margin-left:0pt;' &gt;In the year 2019, in the main countries in which the Group has presence, there has been no changes in the nominal tax rate on corporate in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;come tax except for Colombia, where the applicable tax rate is 33% compared to the 37% of the previous year. In the year 2018, the changes in the nominal tax rate on corporate income tax, in comparison with those existing in the previous years, in the main&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; countries in which the Group has a presence, have been in the 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%)&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: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;19.4   Income tax recognized in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;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:8pt;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 these 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:497.25pt;border-bottom-style:solid;border-bottom-width:1;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:8pt;color:#02A5A5;' &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: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:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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;Charges to total equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &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:52.5pt;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:52.5pt;' &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:52.5pt;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:52.5pt;' &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:52.5pt;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:52.5pt;' &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:287.25pt;border-top-style:solid;border-top-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;color:#000000;' &gt;Debt securities and others&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(130)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(87)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(355)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:287.25pt;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;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(40)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(56)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:11.45pt;' &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;background-color:#5AC4C4;border-color:Black;min-width:287.25pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(170)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(429)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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;background-color:#5AC4C4;border-color:Black;min-width:287.25pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(170)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(429)&lt;/font&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;19.5   Current an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;d deferred taxes&lt;/font&gt;&lt;/p&gt;&lt;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;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 &amp;#8220;Tax liabilities&amp;#8221; heading includes the Group&amp;#8217;s various current and deferred tax liab&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ilities. 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='4' rowspan='1' style='width:451.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:451.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Tax assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &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:240pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,765&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,163&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,318&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,725&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Pensions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;456&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;405&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;395&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,386&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,453&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;204&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;302&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:11.45pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Loss allowances &lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,636&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,005&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;841&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;990&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;870&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,433&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:240pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,432&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,212&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:240pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;17,083&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Tax liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &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:70.5pt;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:70.5pt;' &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:240pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;880&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,114&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,928&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,184&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,014&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,427&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:240pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;914&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;910&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:11.45pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:240pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,808&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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;/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:6pt;margin-left:0pt;' &gt;(*)   Law guaranteeing the deferred tax assets has been approved in Spain in 2013. In 2017 guaranteed deferred tax assets also existed in Portugal but i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;n 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;p style='text-align:justify;margin-top:6pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The most significant variations of the deferred assets and liabilities in the years 2019, 2018 and 2017 derived from the followings 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: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:#02A5A5;' &gt;Deferred tax assets and liabilities. Annual variations (Millions of Euros)&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:#FFFFFF;' &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 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:8pt;font-weight:bold;color:#072146;' &gt;2019&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:8pt;font-weight:bold;color:#072146;' &gt;2018&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:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.9pt;' &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;font-weight:bold;color:#0A5FB4;' &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;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:right;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Deferred assets&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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Deferred liabilities&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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Deferred assets&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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Deferred liabilities&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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Deferred assets&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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Deferred liabilities&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;background-color:#5AC4C4;border-color:Black;min-width:171.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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;background-color:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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;tr style='height:11.45pt;' &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;Pensions&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;51&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;10&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;(795)&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;/tr&gt;&lt;tr style='height:11.45pt;' &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;Financials instruments&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;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;(122)&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;(52)&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;(291)&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;82&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;(367)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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;Other assets&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;(98)&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;(55)&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;(305)&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;/tr&gt;&lt;tr style='height:11.45pt;' &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;Loss allowances&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;261&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;370&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;(385)&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;/tr&gt;&lt;tr style='height:11.45pt;' &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;Others&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;(149)&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;120&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;153&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;(366)&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;(841)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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;Guaranteed tax assets&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;(70)&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;2&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;/tr&gt;&lt;tr style='height:11.45pt;' &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;Tax losses&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;(48)&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;268&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;101&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;/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;background-color:#5AC4C4;border-color:Black;min-width:171.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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;background-color:#5AC4C4;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;15,318&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:#5AC4C4;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,928&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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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;/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:5pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;With respect to the changes in assets and liabilities due to deferred tax in 2019 contained in the above table, the following should be pointed out:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Secur&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ed tax assets maintain the same balance as in the previous year.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;decrease&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; in tax losses occurs as a result of the review of the balance of booked deferred taxes carried out on every accounting closing.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The evolution of the deferred tax assets and liabilities (without taking into consideration the secured deferred tax asset and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the tax losses) in net terms is a decrease of &amp;#8364;168 million mainly due to 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;deferred taxes.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;/div&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:8pt;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 earnings 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:8pt;margin-left:0pt;' &gt;As of December 31, 2019,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 2018 and 2017, 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 473 mi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;llion euros, 443 million euros and 376 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:8pt;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 government, broken down by the items that originated those assets is &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;as follows:&lt;/font&gt;&lt;/p&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:495.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:495.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:234.75pt;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:234.75pt;' &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:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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:#072146;' &gt;2019&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:#072146;' &gt;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:#072146;' &gt;2017 (*)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:234.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Pensions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-top-style:solid;border-top-width:1;text-align:center;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;border-top-style:solid;border-top-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;1,924&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:Black;min-width:65.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,924&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:Black;min-width:65.25pt;' &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:11.45pt;' &gt;&lt;td style='width:234.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loss allowances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;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;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;7,439&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;7,439&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;7,486&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:234.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:234.75pt;' &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:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:65.25pt;' &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: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:#5AC4C4;border-color:Black;min-width:65.25pt;' &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: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:#5AC4C4;border-color:Black;min-width:65.25pt;' &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: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:#5AC4C4;border-color:Black;min-width:65.25pt;' &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;/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:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;In 2017 guaranteed deferred tax assets also existed in Portugal but in 2018 they lost the guarantee.&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:8pt;margin-left:0pt;' &gt;As of December 31, 2019, non-guaranteed net deferred tax assets of the above table amounted to &amp;#8364;4,027 million &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;(&amp;#8364;3,907 and &amp;#8364;3,108 million as of December 31, 2018 and 2017 respectively), which broken down by major geographies is as follows:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Spain: Net deferred tax assets recognized in Spain totaled &amp;#8364;2,447 million as of December 31, 2019 (&amp;#8364;2,653 and &amp;#8364;2,052 million as&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of December 31, 2018 and 2017, respectively). &amp;#8364;1,420 million of the figure recorded in the year ended December 31, 2019 for net deferred tax assets related to tax credits and tax loss carry forwards and &amp;#8364;1,027 million relate to temporary differences.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Mexi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;co: Net deferred tax assets recognized in Mexico amounted to &amp;#8364;1,083 million as of December 31, 2019 (&amp;#8364;826 and &amp;#8364;615 million as of December 31, 2018 and 2017, respectively). Practically all of deferred tax assets as of December 31, 2019 relate to temporary d&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ifferences. The remainders are tax credits carry forwards.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;South America: Net deferred tax assets recognized in South America amounted to &amp;#8364;84 million as of December 31, 2019 (&amp;#8364;0.4 and &amp;#8364;26 million as of December 31, 2018 and 2017, respectively). Practically&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; all the deferred tax assets are related to temporary differences.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The United States: Net deferred tax assets recognized in the United States amounted to 122 million as of December 31, 2019 (&amp;#8364;164 and &amp;#8364;180 as of December 31, 2018 and 2017, respectively). Al&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;l the deferred tax assets relate to temporary differences.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Turkey: Net deferred tax assets recognized in Turkey amounted to &amp;#8364;278 million as of December 31, 2019 (&amp;#8364;250 and &amp;#8364;224 million as of December 31, 2018 and 2017 respectively). As of December 31, 2019,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; all the deferred tax assets correspond to &amp;#8364;10 million of tax credits related to tax losses carry forwards and deductions and &amp;#8364;268 million relate to temporary differences.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;Based on the information available as of December 31, 2019, including historical lev&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;els of benefits and projected results available to the Group for the coming 15 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;to the tax laws.&lt;/font&gt;&lt;/p&gt;&lt;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;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 &amp;#8364; 2,207 million euros, w&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;hich are mainly originated by Catalunya Banc.&lt;/font&gt;&lt;/p&gt;</bbva:Disclosureoftaxassetsandliabiltiiesexplanatory>
  <bbva:Disclosureofotherassetsandliabilitiesexplanatory id="ID_10049" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;20.   Other 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:8pt;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: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:#02A5A5;' &gt;Other assets and liabilities: (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#44546A;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:left;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;Assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &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:57.75pt;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:57.75pt;' &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:57.75pt;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:57.75pt;' &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:57.75pt;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:57.75pt;' &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:250.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Inventories&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;581&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;635&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &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:57.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;579&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;633&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;226&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &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:57.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;138&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;249&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;156&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accruals&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;804&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;702&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;768&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Prepaid expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;573&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;465&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;509&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &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:57.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;231&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;237&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;259&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &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:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,277&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,207&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:middle;background-color:#5AC4C4;border-color:Black;min-width:250.5pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,800&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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;/tr&gt;&lt;tr style='height:13.5pt;' &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:middle;border-color:Black;min-width:250.5pt;' &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:57.75pt;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:57.75pt;' &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:57.75pt;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:57.75pt;' &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:57.75pt;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:57.75pt;' &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:57.75pt;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:57.75pt;' &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:250.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;165&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accruals&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,490&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Accrued expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;2,064&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;2,119&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;1,997&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other accrued expense and deferred income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;392&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;439&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;493&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &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:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,247&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,894&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &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:middle;background-color:#5AC4C4;border-color:Black;min-width:250.5pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,742&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofotherassetsandliabilitiesexplanatory>
  <ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory id="ID_10050" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;21.   Non-current assets and disposal groups classified as held for sale&lt;/font&gt;&lt;/p&gt;&lt;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;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the origi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n of 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:20.25pt;' &gt;&lt;td colspan='5' 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:#02A5A5;' &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:16.5pt;' &gt;&lt;td style='width:234.75pt;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:234.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#44546A;' &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:6pt;font-weight:bold;color:#072146;' &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:6pt;font-weight:bold;color:#072146;' &gt;2019&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:6pt;font-weight:bold;color:#072146;' &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:6pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:234.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Foreclosures and recoveries (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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:6pt;color:#000000;' &gt;1,647&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:6pt;color:#000000;' &gt;2,211&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:6pt;color:#000000;' &gt;6,207&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:234.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:234.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Foreclosures&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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:6pt;color:#666666;' &gt;1,553&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;2,135&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;6,047&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:234.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:234.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Recoveries from financial leases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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:6pt;color:#666666;' &gt;94&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;160&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:234.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:234.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Assets from tangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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:6pt;color:#000000;' &gt;310&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;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:6pt;color:#000000;' &gt;447&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:234.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:234.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Business sale - Assets (**)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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:6pt;color:#000000;' &gt;1,716&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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:6pt;color:#000000;' &gt;18,623&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:234.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:234.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accrued amortization (***)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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:6pt;color:#000000;' &gt;(51)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(44)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(77)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:234.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:234.75pt;' &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:49.5pt;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:6pt;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:6pt;color:#000000;' &gt;(543)&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:6pt;color:#000000;' &gt;(628)&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:6pt;color:#000000;' &gt;(1,348)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &gt;&lt;td style='width:234.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:234.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:49.5pt;' &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: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:#5AC4C4;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,079&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:#5AC4C4;border-color:Black;min-width:49.5pt;' &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: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:#5AC4C4;border-color:Black;min-width:49.5pt;' &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:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*)    &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Corresponds mainly to the agreement with Cerberus to transfer the &amp;quot;Real Estate&amp;quot; business in Spain in 2018 (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:6pt;margin-left:0pt;' &gt;(**)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;The 2019 balance corresponds mainly to the BBVA&amp;#180;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;s stake in BBVA Paraguay and 2017 balance corresponds mainly to the BBVA&amp;#180;s stake in BBVA Chile sold in 2018 (see Note 3).&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(***)  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Amortization accumulated until related asset reclassified as &amp;#8220;non-current assets and disposal groups classified as held for sal&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;e&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:8pt;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 2019, 2018 and 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:15.6pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:521.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:521.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#02A5A5;' &gt;Non-current assets and disposal groups classified as held for sale. Changes in the year 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:109.5pt;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:109.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Foreclosed assets&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;From own use assets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;(*)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Other assets (**)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:31.15pt;' &gt;&lt;td style='width:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &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:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Foreclosed assets through auction proceeding&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Recovered assets from financial leases&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Cost  (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &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:54.75pt;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:54.75pt;' &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:54.75pt;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:54.75pt;' &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:54.75pt;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:54.75pt;' &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:54.75pt;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:54.75pt;' &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:54.75pt;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:54.75pt;' &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:12pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:192.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:12pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Additions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;597&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;68&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,676&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,351&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Contributions from merger transactions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:7.9pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &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:54.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(967)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(56)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(206)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,229)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &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:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(214)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;65&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(131)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:192.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,553&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;95&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;258&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,716&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,622&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:6.75pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &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:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &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:12pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Impairment  (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;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:54.75pt;' &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:54.75pt;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:54.75pt;' &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:54.75pt;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:54.75pt;' &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:54.75pt;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:54.75pt;' &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:54.75pt;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:54.75pt;' &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:54.75pt;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:54.75pt;' &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:12pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:192.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;628&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Additions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;66&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;77&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &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:54.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(160)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(186)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &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:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54.75pt;' &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:12pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:192.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;383&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;132&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;543&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:192.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &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:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,170&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;126&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,716&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;3,079&lt;/font&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:6pt;margin-left:0pt;' &gt;(*)    &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Net of amortization accumulated until assets were reclassified as non-current &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;assets classified as held for sale.&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:6pt;margin-left:0pt;' &gt;(**)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;The variation corresponds mainly to the agreement of the sa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;le of BBVA Paraguay (see Note &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;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: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:6pt;color:#02A5A5;' &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: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: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:center;vertical-align:middle;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' 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:#072146;' &gt;Foreclosed assets&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:46.5pt;border-top-style:solid;border-top-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:#072146;' &gt;From own use assets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;(*)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:46.5pt;border-top-style:solid;border-top-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:#072146;' &gt;Other assets (**)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:46.5pt;border-top-style:solid;border-top-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:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:198pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:198pt;' &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: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;font-weight:bold;color:#072146;' &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: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:#072146;' &gt;Foreclosed assets through auction proceeding&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:#072146;' &gt;Recovered assets from financial leases&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Cost  (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: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;/tr&gt;&lt;tr style='height:12pt;' &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:#5AC4C4;border-color:Black;min-width:198pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:198pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Additions &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: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-top-style:solid;border-top-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;637&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:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;55&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:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&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: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-top-style:solid;border-top-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;696&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &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:6pt;color:#000000;' &gt;Retirements (sales and other decreases)&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;&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;(4,354)&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;(135)&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;(227)&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;(18,594)&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;(23,310)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:198pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:198pt;' &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: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;border-color:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(195)&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;(4)&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;241&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 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;42&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:#5AC4C4;border-color:Black;min-width:198pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:198pt;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:198pt;' &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: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;color:#094FA4;' &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;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;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;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;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;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Impairment  (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: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;/tr&gt;&lt;tr style='height:12pt;' &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:#5AC4C4;border-color:Black;min-width:198pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:8.25pt;' &gt;&lt;td style='width:198pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Additions &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:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;50&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:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;195&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:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11&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:Black;min-width:46.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&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: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-top-style:solid;border-top-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;208&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:6pt;color:#000000;' &gt;Retirements (sales and other decreases)&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;&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;(793)&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;(37)&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;(101)&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;(931)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:198pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:198pt;' &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: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;border-color:Black;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-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;(4)&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;29&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 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;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:#5AC4C4;border-color:Black;min-width:198pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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: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:#5AC4C4;border-color:Black;min-width:198pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:46.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:46.5pt;' &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:6pt;margin-left:0pt;' &gt;(*)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Net of amortization accumulated until assets were reclassified as non-current assets class&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;ified as held for sale.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(**)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;The variation corresponds mainly to the BBVA&amp;#8217;s stake in BBVA Chile and 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;table style='border-collapse:collapse;' &gt;&lt;tr style='height:16.5pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:489pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:489pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#02A5A5;' &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:12.75pt;' &gt;&lt;td style='width:187.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:187.5pt;' &gt;&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:#072146;' &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:#072146;' &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:#072146;' &gt;From own use assets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &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:#072146;' &gt;Other assets&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &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:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &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:6pt;font-weight:bold;color:#0A5FB4;' &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;font-weight:bold;color:#072146;' &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: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:#072146;' &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: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:#072146;' &gt;Recovered assets from financial leases&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:6pt;font-weight:bold;color:#004481;' &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:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:187.5pt;' &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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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: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: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:Black;min-width:50.25pt;' &gt;&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;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: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: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;border-top-style:solid;border-top-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;text-align:right;vertical-align:middle;border-color:Black;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:187.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:187.5pt;' &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: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: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:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:187.5pt;' &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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:187.5pt;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:187.5pt;' &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:middle;border-color:Black;min-width:50.25pt;' &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: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;td style='width:50.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-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: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:6pt;font-weight:bold;color:#004481;' &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:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:187.5pt;' &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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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: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: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: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;border-top-style:solid;border-top-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;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:Black;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: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;border-top-style:solid;border-top-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;text-align: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;/tr&gt;&lt;tr style='height:12pt;' &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: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: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: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:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:187.5pt;' &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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:187.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:187.5pt;' &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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:6pt;margin-left:0pt;' &gt;(*)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Net of amortization accumulated unti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;l assets were reclassified as non-current assets classified as held for sale.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(**) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; The variation corresponds mainly to the BBVA&amp;#8217;s stake in BBVA Chile and 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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;As &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 Dec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ember 31, 2019, 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;p style='text-align:left;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;margin-left:0pt;color:#072146;' &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:8pt;margin-left:0pt;' &gt;As of December 31, 2019, 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and 2017, assets from foreclosures and recoveries, net of impairment losses, by nature of the asset, amounted to &amp;#8364;871, &amp;#8364;1,072 and &amp;#8364;1,924 million in assets for residential use; &amp;#8364;259, &amp;#8364;182 and &amp;#8364;491 million in assets for tertiary use (industrial, commercial &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;or office) and &amp;#8364;28 &amp;#8364;19 and &amp;#8364;29 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:8pt;margin-left:0pt;' &gt;In December 31, 2019, 2018 and 2017, 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:8pt;margin-left:0pt;' &gt;During the years 2019, 2018 and 2017, some &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 &amp;#8364;79, &amp;#8364;82 and &amp;#8364;207 million, respectively; with an average financing of 27.5% of the sales price during 2019.&lt;/font&gt;&lt;/p&gt;&lt;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;As of December 31, 2019, 2018 and 2017, 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;1 million in each financial year.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory>
  <bbva:Disclosureoffinancialliabilitiesatamortizedcostexplanatory id="ID_10051" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;22.   Financial liabilities at amortized cost&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;22.1   Breakdown of the balance&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;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:429.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:429.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Financial liabilities measured 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:198pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:198pt;' &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: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:#072146;' &gt;2019&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:#072146;' &gt;2018&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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#000000;' &gt;Deposits&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;438,919&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;435,229&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;467,949&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#000000;' &gt;Deposits from central banks&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;25,950&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;27,281&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;37,054&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#666666;' &gt;Demand deposits&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:#666666;' &gt;23&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:#666666;' &gt;20&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:#666666;' &gt;2,588&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#666666;' &gt;Time deposits&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:#666666;' &gt;25,101&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:#666666;' &gt;26,885&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:#666666;' &gt;28,311&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#666666;' &gt;Repurchase agreements&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:#666666;' &gt;826&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:#666666;' &gt;375&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:#666666;' &gt;6,155&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#000000;' &gt;Deposits from credit institutions&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;28,751&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;31,978&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;54,516&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#666666;' &gt;Demand deposits&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:#666666;' &gt;7,161&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:#666666;' &gt;8,370&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:#666666;' &gt;3,731&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#666666;' &gt;Time deposits&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:#666666;' &gt;18,896&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:#666666;' &gt;19,015&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:#666666;' &gt;25,941&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#666666;' &gt;Repurchase agreements&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:#666666;' &gt;2,693&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:#666666;' &gt;4,593&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:#666666;' &gt;24,843&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#000000;' &gt;Customer deposits&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;384,219&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;375,970&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;376,379&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#666666;' &gt;Demand deposits&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:#666666;' &gt;280,391&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:#666666;' &gt;260,573&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:#666666;' &gt;240,583&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#666666;' &gt;Time deposits&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:#666666;' &gt;103,293&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:#666666;' &gt;114,188&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:#666666;' &gt;126,716&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#666666;' &gt;Repurchase agreements&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:#666666;' &gt;535&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:#666666;' &gt;1,209&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:#666666;' &gt;9,079&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#000000;' &gt;Debt certificates&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;63,963&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;61,112&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;63,915&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Other financial liabilities&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;13,758&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;12,844&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;11,850&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &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:#5AC4C4;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:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;516,641&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;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &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:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &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;/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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;22.2   Deposits from credit institutions&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:9pt;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:#5AC4C4;' &gt;Deposits from credit institutions. December 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:41.25pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &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:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Demand deposits &lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Time deposits &amp;amp; other (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:161.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,218&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,082&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,295&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,377&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;432&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;168&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,634&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;302&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;617&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;924&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;394&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;161&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,840&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,358&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,190&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:161.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,374&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,568&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,161&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;18,896&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,693&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;28,751&lt;/font&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:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:35.45pt;' &gt;(*)    Subordinated depo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;sits are included amounting &amp;#8364;195 million.&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: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:#5AC4C4;' &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:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Demand deposits &lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Time deposits &amp;amp; other (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:12.75pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:12.75pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;280&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;286&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:12.75pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;651&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;669&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:12.75pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;442&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:12.75pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:12.75pt;' &gt;&lt;td style='width:156pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;207&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:12.75pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:156pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:82.5pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:82.5pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:82.5pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:82.5pt;' &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:471pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:471pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#5AC4C4;' &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:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Time deposits &amp;amp; other (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;762&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;878&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;282&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;330&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;73&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;836&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;448&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;526&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:78.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;77&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:156pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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;p style='text-align:justify;margin-top:3pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:35.45pt;' &gt;(*)    Subordinated deposits are included amounting &amp;#8364;191 million.&lt;/font&gt;&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;22.3   Customer deposits&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;margin-left:0pt;' &gt;The breakdown by geographical 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: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:#5AC4C4;' &gt;Customer deposits. December 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:40.5pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Time deposits &amp;amp; other (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;146,651&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24,958&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;171,611&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46,372&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19,810&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;66,181&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43,326&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,714&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;523&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56,564&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,775&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,257&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36,042&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,748&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,913&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36,661&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,610&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,749&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,360&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;909&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;892&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,801&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:156pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;280,391&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;103,293&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;535&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;384,219&lt;/font&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:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:35.45pt;' &gt;(*)    Subordinated deposits are included amounting to &amp;#8364;189 million.&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: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:#02A5A5;' &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:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Time deposits and other (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;770&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;429&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:156pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;831&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:156pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:82.5pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:82.5pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:82.5pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:82.5pt;' &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;p style='text-align:justify;margin-top:3pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:35.45pt;' &gt;(*)    Subordinated deposits are included amounting to &amp;#8364;220 million.&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:471pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:471pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#5AC4C4;' &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:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Time deposits &amp;amp; other (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;152&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:78.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:156pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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;p style='text-align:justify;margin-top:3pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:35.45pt;' &gt;(*)    Subordinated deposits are included amounting to &amp;#8364;194 million.&lt;/font&gt;&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;22.4   Debt certificates&lt;/font&gt;&lt;/p&gt;&lt;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;The breakdown of the balance under this heading, by financial in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;struments and 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: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:#02A5A5;' &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:250.5pt;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:250.5pt;' &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: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:#072146;' &gt;2019&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:#072146;' &gt;2018&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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;In Euros&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:6pt;font-weight:bold;color:#004481;' &gt;40,185&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:6pt;font-weight:bold;color:#004481;' &gt;37,436&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:6pt;font-weight:bold;color:#004481;' &gt;38,735&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:250.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Promissory bills and notes&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:6pt;color:#000000;' &gt;737&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:6pt;color:#000000;' &gt;267&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:6pt;color:#000000;' &gt;1,309&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Non-convertible bonds and debentures&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:6pt;color:#000000;' &gt;12,248&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:6pt;color:#000000;' &gt;9,638&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:6pt;color:#000000;' &gt;9,418&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Covered bonds (*)&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:6pt;color:#000000;' &gt;15,542&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:6pt;color:#000000;' &gt;15,809&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:6pt;color:#000000;' &gt;16,425&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Hybrid financial instruments&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:6pt;color:#000000;' &gt;518&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:6pt;color:#000000;' &gt;814&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:6pt;color:#000000;' &gt;807&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Securitization bonds&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:6pt;color:#000000;' &gt;1,354&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:6pt;color:#000000;' &gt;1,630&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:6pt;color:#000000;' &gt;2,295&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Wholesale funding&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:6pt;color:#000000;' &gt;1,817&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:6pt;color:#000000;' &gt;142&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:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Subordinated liabilities&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:6pt;color:#000000;' &gt;7,968&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:6pt;color:#000000;' &gt;9,136&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:6pt;color:#000000;' &gt;8,481&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Convertible perpetual certificates&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:6pt;color:#666666;' &gt;5,000&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:6pt;color:#666666;' &gt;5,490&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:6pt;color:#666666;' &gt;4,500&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Non-convertible preferred stock&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:6pt;color:#666666;' &gt;83&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:6pt;color:#666666;' &gt;107&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:6pt;color:#666666;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Other non-convertible subordinated liabilities&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:6pt;color:#666666;' &gt;2,885&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:6pt;color:#666666;' &gt;3,540&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:6pt;color:#666666;' &gt;3,875&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;In foreign currencies&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:6pt;font-weight:bold;color:#004481;' &gt;23,778&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:6pt;font-weight:bold;color:#004481;' &gt;23,676&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:6pt;font-weight:bold;color:#004481;' &gt;25,180&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:250.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Promissory bills and notes&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:6pt;color:#000000;' &gt;1,210&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:6pt;color:#000000;' &gt;3,237&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:6pt;color:#000000;' &gt;3,157&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Non-convertible bonds and debentures&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:6pt;color:#000000;' &gt;10,587&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:6pt;color:#000000;' &gt;9,335&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:6pt;color:#000000;' &gt;11,109&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Covered bonds (*)&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:6pt;color:#000000;' &gt;362&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:6pt;color:#000000;' &gt;569&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:6pt;color:#000000;' &gt;650&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Hybrid financial instruments&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:6pt;color:#000000;' &gt;1,156&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:6pt;color:#000000;' &gt;1,455&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:6pt;color:#000000;' &gt;1,809&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Securitization bonds&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:6pt;color:#000000;' &gt;17&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:6pt;color:#000000;' &gt;38&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:6pt;color:#000000;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Wholesale funding&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:6pt;color:#000000;' &gt;780&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:6pt;color:#000000;' &gt;544&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:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Subordinated liabilities&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:6pt;color:#000000;' &gt;9,666&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:6pt;color:#000000;' &gt;8,499&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:6pt;color:#000000;' &gt;8,407&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Convertible perpetual certificates&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:6pt;color:#666666;' &gt;1,782&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:6pt;color:#666666;' &gt;873&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:6pt;color:#666666;' &gt;2,085&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Non-convertible preferred stock&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:6pt;color:#666666;' &gt;76&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:6pt;color:#666666;' &gt;74&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:6pt;color:#666666;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Other non-convertible subordinated liabilities&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:6pt;color:#666666;' &gt;7,808&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:6pt;color:#666666;' &gt;7,552&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:6pt;color:#666666;' &gt;6,268&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &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:middle;background-color:#5AC4C4;border-color:Black;min-width:250.5pt;' &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:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;63,963&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;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;61,112&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;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;63,915&lt;/font&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:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:35.45pt;' &gt;(*) Including mortgag&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;e-covered bonds&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &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:8pt;margin-left:0pt;' &gt;As of December 31, 2019, 71% of &amp;#8220;Debt certificates&amp;#8221; have fixed-interest rates and 29% 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:8pt;margin-left:0pt;' &gt;Most of the foreign &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;currency issues are denominated in U.S. dollars.&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:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;22.4.1   Subordinated 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:8pt;margin-left:0pt;' &gt;The breakdown of 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:12.75pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:408.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:408.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Memorandum item: Subordinated liabilities at amortized cost &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;384&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;411&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;427&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Subordinated certificates &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17,635&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17,635&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,889&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Preferred stock&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;181&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:12.75pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Compound convertible financial instruments &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,782&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,363&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,585&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other non-convertible subordinated liabilities (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,693&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,092&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,143&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:224.25pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;18,018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;18,047&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;17,316&lt;/font&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:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:35.45pt;' &gt;(*) The &amp;#8364;40 million subordinated issuances of BBVA Paraguay as of December 2019 are recorded in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; the heading &amp;quot;Liabilities included in disposal groups classified as held for sale&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:8pt;margin-left:0pt;color:#000000;' &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,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; S.A.U., are jointly, severally and irrevocably guaranteed by the Bank. The balance variances are mainly due to the following 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:8pt;font-weight:bold;margin-left:0pt;color:#004580;' &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:8pt;margin-left:0pt;' &gt;The AGM held on March 17, 2017, resolved, under agenda item five, to confer author&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ity 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 &amp;#8364;8 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;billion or its equivalent in any other currency. 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 converti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ble securities, although this power was limited to enable the nominal amount of the capital increases resolved or effectively carried out to cover the conversion of mandatory convertible issuances made under this authority (without prejudice to anti-diluti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;on 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, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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.&lt;/font&gt;&lt;/p&gt;&lt;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;Under that delegation, BBVA made the fo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;llowing issuances that qualify as 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='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;In May and November 2017, BBVA carried out both issuances of perpetual contingent convertible securities (additional tier 1 i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nstrument), with exclusion of pre-emptive subscription rights of shareholders, for a total nominal amount of &amp;#8364;500 million and $1,000 million, respectively. These issuances are listed in the Global Exchange Market of Euronext Dublin and were targeted only a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t qualified investors and foreign private banking clients, not being offered to, and not being subscribed for, in Spain or by Spanish residents.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;In September 2018 and March 2019, BBVA carried out both issuances of perpetual contingent convertible securitie&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s (additional tier 1 instrument), with exclusion of pre-emptive subscription rights of shareholders, for a total nominal amount of &amp;#8364;1,000 million each. These issuances are listed in the AIAF Fixed Income Securities Market and were targeted only at professi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;onal clients and eligible counterparties, and not being offered or sold to any retail clients.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;On September 5, 2019, BBVA carried out an issuance of perpetual contingent convertible securities (additional tier 1 instrument), with exclusion of pre-emptive s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ubscription rights of shareholders, for a total nominal amount of $1,000 million. This issuance is listed in the Global Exchange Market of Euronext Dublin and was targeted only at qualified investors, not being offered to, and not being subscribed for, in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Spain or by Spanish residents.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;Additionally, other issuances:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The additional issuances of perpetual contingent convertible securities (additional tier 1 instruments) with exclusion of pre-emptive subscription rights of shareholders were carried out, by vir&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tue of other delegations conferred by the AGM, in February 2015 for an amount of &amp;#8364;1.5 billion and in April 2016 for an amount of &amp;#8364;1 billion. These issuances were targeted only at qualified investors and foreign private banking clients not being offered to,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and not being subscribed for, in Spain or by Spanish residents. These issuances are listed in the Global Exchange Market of Euronext Dublin and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;qualify as additional tier 1 capital of the Bank and the Group in accordance with Regulation (EU) 575/2013&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;The&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;se 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.&lt;/font&gt;&lt;/p&gt;&lt;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;These issues may be fully redeemed at BBVA&amp;#180;s opti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;on only in the cases contemplated in their respective terms and conditions, and in any case, in accordance with the provisions of the applicable legislation. In particular:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;On May 9, 2018, the Bank early redeemed the issuance of preferred securities contin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;gently 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;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;On February 19, 2019 the Bank ear&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ly redeemed 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 &amp;#8364;1,5 billion and once the prior consent from the Regulator has been obtained.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Addi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tionally, on December 23, 2019, the Bank has notified its irrevocable decision to early redeem next February 18, 2020 the issuance of preferred securities contingently convertible (additional tier 1 instrument), carried out by the Bank on February 18, 2015&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, 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;/span&gt;&lt;/p&gt;&lt;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;font-weight:bold;margin-left:0pt;color:#004580;' &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:8pt;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;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: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:8pt;color:#02A5A5;' &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:255.75pt;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:255.75pt;' &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: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:#004481;' &gt;2019&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:#004481;' &gt;2018&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:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:255.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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: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;37&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;35&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;36&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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: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;83&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;98&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;98&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA USA&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;19&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;19&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;19&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Colombia&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;20&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;19&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;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:255.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;-&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;9&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;9&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:255.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:255.75pt;' &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:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &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:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &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:77.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:77.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;163&lt;/font&gt;&lt;/td&gt;&lt;/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:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(1) Listed on the London stock exchange.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(2) 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:8pt;margin-left:0pt;' &gt;These issuances were fully subscribed at the moment of the issue by qualified/institutional investors outside the Group and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; are redeemable, totally or partially, at the issuer&amp;#8217;s option after five years from the issue date, depending on the terms of each issuance and with the prior consent from the Bank of Spain or the relevant authority.&lt;/font&gt;&lt;/p&gt;&lt;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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Redemption of 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:8pt;margin-left:0pt;' &gt;BBVA&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; International Preferred, S.A.U. carried out the early redemption in full of its Series B preferred securities on March 20, 2017, for an outstanding amount of &amp;#8364;164,350,000; on March 22, 2017, the early redemption in full of its Series A preferred securitie&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s for an outstanding amount of &amp;#8364;85,550,000; and on April 18, 2017 the early redemption in full of its Series C preferred securities for an outstanding amount of USD 600,000,000, once the prior consent was obtained.&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;22.5   Other 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:8pt;margin-left:0pt;' &gt;The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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='4' rowspan='1' style='width:446.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:446.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:266.25pt;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:266.25pt;' &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:60pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:266.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Lease liabilities (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,335&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E7E6E6;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E7E6E6;border-color:Black;min-width:60pt;' &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:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &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:60pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,623&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60pt;' &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:60pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,835&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &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:60pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,306&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60pt;' &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:60pt;text-align:right;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,452&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:266.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Creditors for other payment obligations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,494&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60pt;' &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:60pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,563&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:266.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:266.25pt;' &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:60pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:60pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;13,758&lt;/font&gt;&lt;/td&gt;&lt;td style='width:60pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:60pt;' &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:60pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:60pt;' &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;/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:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*) Lease liabilities are recognized after the implementation of IFRS 16 (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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;A breakdown of the maturit&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;y of the lease liabilities, due after December 31, 2019 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='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:#02A5A5;' &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:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:40.5pt;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:40.5pt;' &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:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Up to 1 year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 3 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Over 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Leases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;500&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;535&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,031&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,335&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureoffinancialliabilitiesatamortizedcostexplanatory>
  <bbva:Disclosureofliabilitiesunderinsurancecontractsandreinsurancecontractsissuedexplanatory id="ID_10052" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;23.   Assets and liabilities under insurance and reinsurance 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:8pt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; cover 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:8pt;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 ou&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t 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:8pt;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 methodolog&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;y 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;of the commitments. Additionally, the insurance business generates certain specific risks, of a probabilistic nature:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:4pt;margin-bottom:4pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Technical risk: arises from deviations in the estimation of the casualty rate of insurances, either in terms of numbers, the amount of suc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;h claims and the timing of its occurrence.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:4pt;margin-bottom:4pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Biometric risk: depending on the deviations in the expected mortality behavior or the survival of the insured persons.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;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:8pt;' &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:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The heading &amp;#8220;Assets under reinsurance and insurance contracts&amp;#8221; in the accompa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nying 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 techni&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;cal provisions recognized by the consolidated insurance subsidiaries. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;As of December 31, 2019, 2018 and 2017, the balance under this heading amounted to &amp;#8364;341, &amp;#8364;366 million and &amp;#8364;421 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:8pt;margin-left:0pt;' &gt;The most significant provisions recognized by consoli&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;dated insurance 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 accompanying consolidated balance sheets.&lt;/font&gt;&lt;/p&gt;&lt;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;The breakdown of the balance under this heading is&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; as follows:&lt;/font&gt;&lt;/p&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:492.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:492.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Technical reserves (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30.75pt;' &gt;&lt;td style='width:324pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:324pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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:#072146;' &gt;2019&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:#072146;' &gt;2018&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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:324pt;' &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:56.25pt;border-top-style:solid;border-top-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;9,247&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:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-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;7,961&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;text-align:left;vertical-align:middle;border-color:Black;min-width:324pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Individual life insurance  &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7.2pt;color:#666666;' &gt;(1)&lt;/font&gt;&lt;/sup&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:#666666;' &gt;6,731&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:#666666;' &gt;6,201&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:#666666;' &gt;5,359&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;text-align:left;vertical-align:middle;border-color:Black;min-width:324pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Savings&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:#666666;' &gt;5,906&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:#666666;' &gt;5,180&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:#666666;' &gt;4,392&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;text-align:left;vertical-align:middle;border-color:Black;min-width:324pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Risk&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:#666666;' &gt;825&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:#666666;' &gt;1,021&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:#666666;' &gt;967&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;text-align:left;vertical-align:middle;border-color:Black;min-width:324pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Group insurance &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:7.2pt;color:#666666;' &gt;(2)&lt;/font&gt;&lt;/sup&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:#666666;' &gt;2,517&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:#666666;' &gt;2,303&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:#666666;' &gt;2,601&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;text-align:left;vertical-align:middle;border-color:Black;min-width:324pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Savings&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:#666666;' &gt;2,334&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:#666666;' &gt;2,210&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:#666666;' &gt;2,455&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;text-align:left;vertical-align:middle;border-color:Black;min-width:324pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Risk&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:#666666;' &gt;182&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:#666666;' &gt;93&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:#666666;' &gt;147&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;text-align:left;vertical-align:middle;border-color:Black;min-width:324pt;' &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: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;641&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;662&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;631&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:324pt;' &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: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;718&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;668&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;631&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:324pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:324pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;10,606&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &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;/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:6pt;margin-left:0pt;' &gt;(1)   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:6pt;margin-left:0pt;' &gt;(2)  The insurance policies purchased by employers (other than BBVA Group) on behalf of its 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:8pt;margin-left:0pt;' &gt;The cash flows of those &amp;#8220;Liabilities under insurance and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;reinsurance contracts&amp;#8221; 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: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:8pt;color:#5AC4C4;' &gt;Maturity (Millions of euros). Liabilities under insurance and reinsurance contracts&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:182.25pt;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:182.25pt;' &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:63.75pt;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:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Up to 1 year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;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:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 3 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;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:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;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:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Over 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;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:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:182.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,571&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,806&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,032&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,606&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:182.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:182.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:182.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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:63.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63.75pt;' &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;/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:8pt;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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; country&amp;#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 insu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rance 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;IFRS and primarily involve the valuation of the estimated future cash flows, discounted at the technical interest rate for each policy. To support this technical interest rate, asset-liability management is carried out, acquiring a portfolio of securities &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;that generate the cash flows needed to cover the payment commitments assumed with the 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:8pt;margin-left:0pt;' &gt;The table below shows the key assumptions as of December 31, 2019, used in the calculation of the mathematical reserves for insurance products in Spain and Mex&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ico, respectively:&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:496.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:496.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#5AC4C4;' &gt;Mathematical reserves&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:124.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:124.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td 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:#072146;' &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:#072146;' &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:124.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:124.5pt;' &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: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:#072146;' &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:#072146;' &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:#072146;' &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:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33.75pt;' &gt;&lt;td style='width:124.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:124.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Individual life insurance (1)&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;GRMF 80-2, GKMF 80/95.  PASEM, PERMF 2000&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;0.25% -2.91%&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:31.5pt;' &gt;&lt;td style='width:124.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:124.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Group insurance(2)&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;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:6pt;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:6pt;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:Disclosureofliabilitiesunderinsurancecontractsandreinsurancecontractsissuedexplanatory>
  <bbva:Disclosureofprovisions id="ID_10053" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;24.   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:8pt;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:13.5pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:508.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:508.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Provisions. Breakdown by concepts (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:229.5pt;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:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#44546A;' &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:8pt;font-weight:bold;color:#072146;' &gt;Notes&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:8pt;font-weight:bold;color:#072146;' &gt;2019&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:8pt;font-weight:bold;color:#072146;' &gt;2018&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:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:229.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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: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:8pt;color:#000000;' &gt;25 &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:8pt;color:#000000;' &gt;4,631&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:8pt;color:#000000;' &gt;4,787&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:8pt;color:#000000;' &gt;5,407&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:229.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:8pt;color:#000000;' &gt;61&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &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:12.75pt;' &gt;&lt;td style='width:229.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:8pt;color:#000000;' &gt;677&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;686&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;756&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:229.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:8pt;color:#000000;' &gt;711&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;636&lt;/font&gt;&lt;/td&gt;&lt;td style='width:69.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:69.75pt;' &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:229.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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: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:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;457&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:8pt;color:#000000;' &gt;601&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:8pt;color:#000000;' &gt;669&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:229.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:229.5pt;' &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: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:#5AC4C4;border-color:Black;min-width:69.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:69.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,538&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:#5AC4C4;border-color:Black;min-width:69.75pt;' &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: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:#5AC4C4;border-color:Black;min-width:69.75pt;' &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;/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:6pt;margin-left:0pt;color:#000000;' &gt;(*) Individually insignificant provisions or contingencies, for &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;various concepts in different geographies.&lt;/font&gt;&lt;/p&gt;&lt;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;The change in provisions for pensions and similar obligations for the years ended December 31, 2019, 2018, and 2017 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:519pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:519pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&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:#5AC4C4;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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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;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:59.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;330&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;126&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;391&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 expense and similar charges&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;65&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;71&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 expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;58&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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: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 expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;215&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;258&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;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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;329&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;41&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;140&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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(32)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;95&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(264)&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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(718)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(779)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(861)&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:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(65)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(103)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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: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:#5AC4C4;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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,631&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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;/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:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:21.25pt;' &gt;(1)   Correspond to actuarial losses (gains) arising from &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;certain defined-benefit post-employment pension commitments and other similar benefits recognized in &amp;#8220;Equity&amp;#8221; (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;table style='border-collapse:collapse;' &gt;&lt;tr style='height:14.25pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:513.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:513.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Provisions for taxes, legal contingencies 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:313.5pt;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:313.5pt;' &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:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:313.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:313.5pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &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;tr style='height:12pt;' &gt;&lt;td style='width:313.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:313.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Additions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;396&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;455&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;868&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:313.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:313.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Unused amounts reversed during the year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(96)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(184)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(164)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:313.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:313.5pt;' &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:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(453)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(410)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,306)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:313.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:313.5pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &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;/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:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;margin-left:0pt;color:#094580;' &gt;Ongoing legal proceedings and litigation&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:8pt;margin-left:0pt;color:#000000;' &gt;The financial sector faces an environment of increasing regulat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ory and litigious pressure. In this environment, the different Group&amp;#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 procee&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;dings 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 derives from them neither in the results of operations nor on liquidity, nor in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; the financial position at a consolidated level of the Group, as at the level of the standalone Bank. The Group Management considers that the provisions made in connection with these legal proceedings are adequate. &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:8pt;margin-left:0pt;color:#000000;' &gt;As mentioned in Note 7.5 Legal risk &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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 business, the financial situation and the resu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;lts of the Group.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofprovisions>
  <ifrs-full:DisclosureOfEmployeeBenefitsExplanatory id="ID_10054" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;25.   Post-employment and other employee benefit 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:8pt;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:8pt;' &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:8pt;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:8pt;' &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:8pt;' &gt;ice and in retirees.&lt;/font&gt;&lt;/p&gt;&lt;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;The breakdown of the net defined benefit liability recorded on the balance sheet as of December 31, 2019, 2018 and 2017 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: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:#02A5A5;' &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:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,050&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,969&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:345pt;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,210&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:345pt;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,204&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:345pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &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:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;61&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:13.5pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,177&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,961&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,892&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:345pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &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:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,532&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,114&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total plan assets (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,493&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:345pt;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:345pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,684&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which: Net asset on the consolidated balance sheet  (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#A5A5A5;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#A5A5A5;' &gt;(41)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#A5A5A5;' &gt;(27)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td style='width:345pt;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which: +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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#A5A5A5;' &gt;4,631&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#A5A5A5;' &gt;4,787&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#A5A5A5;' &gt;5,407&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:345pt;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which: Net liability on the consolidated balance sheet  for other long term employee benefits (4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#A5A5A5;' &gt;61&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#A5A5A5;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#A5A5A5;' &gt;67&lt;/font&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:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:35.45pt;' &gt;(1)   In Turkey, the foundation responsible for managing the benefit comm&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;itments holds an additional asset of &amp;#8364;252 million as of December 31, 2019 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 pensi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;on contributions it could not be immediately refunded to the employer.&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:6pt;margin-left:35.4pt;' &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:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:35.4pt;' &gt;(3)   Recorded under the heading &amp;#8220;Provisions - Provisions for pensions and simil&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;ar obligations&amp;#8221; of the 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:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:35.4pt;' &gt;(4)   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;font style='font-family:Arial;font-size:6pt;' &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:8pt;margin-left:0pt;' &gt;The amounts relating to benefit commitments charged to cons&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;olidated income statement for the years 2019, 2018 and 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:12.75pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:475.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:475.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:313.5pt;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:313.5pt;' &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:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:313.5pt;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:313.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Interest and similar expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;65&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:313.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:313.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;307&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;295&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:11.25pt;' &gt;&lt;td style='width:313.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:313.5pt;' &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:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(242)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(217)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(223)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:313.5pt;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:313.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Personnel expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;147&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;149&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:313.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:313.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;89&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:313.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:313.5pt;' &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:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;58&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:313.5pt;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:313.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Provisions (net)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;214&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;343&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:313.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:313.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;190&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;141&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;227&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:313.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:313.5pt;' &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:40.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:14.25pt;' &gt;&lt;td style='width:313.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:313.5pt;' &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:40.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:11.25pt;' &gt;&lt;td style='width:313.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:313.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other provision expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:13.5pt;' &gt;&lt;td style='width:313.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:313.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;441&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;563&lt;/font&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:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:35.4pt;' &gt;(*)   Actuarial losses (gains) on remeasurement of the net defined benefit liability relating to early retirements in Spain and other long-term employee bene&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;fits that are charged to the income statements (see Note 2.2.12).&lt;/font&gt;&lt;/p&gt;&lt;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;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;relating to pension and medical commitments before income taxes. As of December 31, 2019, 2018 and 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:12.75pt;' &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:#02A5A5;' &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:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&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:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;254&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;81&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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;border-bottom-style:solid;border-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:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;74&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(47)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;179&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:#5AC4C4;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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;329&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &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:66.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;140&lt;/font&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;font-weight:bold;margin-left:0pt;color:#004480;' &gt;25.1   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:8pt;margin-left:0pt;' &gt;Defined benefit commitments relate mainly to employees who have already retired or &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the related liability. The change in these pension commitments during the years ended December 31, 2019, 2018 and 2017 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:513.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:513.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &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: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:#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:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:#072146;' &gt;2019&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:#072146;' &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:#072146;' &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:#072146;' &gt;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:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:#072146;' &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:#072146;' &gt;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:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &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;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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Defined benefit obligation&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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Plan assets&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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Net liability (asset)&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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Defined benefit obligation&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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Plan assets&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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Net liability (asset)&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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Defined benefit obligation&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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Plan assets&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:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Net liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:#5AC4C4;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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;2,839&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:#5AC4C4;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;4,746&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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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;color:#000000;' &gt;Current service cost&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:7pt;color:#000000;' &gt;53&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:7pt;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:7pt;color:#000000;' &gt;53&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:7pt;color:#000000;' &gt;61&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:7pt;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:7pt;color:#000000;' &gt;61&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:7pt;color:#000000;' &gt;64&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:7pt;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:7pt;color:#000000;' &gt;64&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;Interest income/expense&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:7pt;color:#000000;' &gt;304&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:7pt;color:#000000;' &gt;242&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:7pt;color:#000000;' &gt;62&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:7pt;color:#000000;' &gt;292&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:7pt;color:#000000;' &gt;217&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:7pt;color:#000000;' &gt;76&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:7pt;color:#000000;' &gt;290&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:7pt;color:#000000;' &gt;223&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:7pt;color:#000000;' &gt;68&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;Contributions by plan participants&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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;-&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;Employer contributions&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:7pt;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:7pt;color:#000000;' &gt;65&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:7pt;color:#000000;' &gt;(65)&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:7pt;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:7pt;color:#000000;' &gt;103&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:7pt;color:#000000;' &gt;(103)&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:7pt;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:7pt;color:#000000;' &gt;25&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:7pt;color:#000000;' &gt;(25)&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:#000000;' &gt;(1)&lt;/font&gt;&lt;/sup&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:7pt;color:#000000;' &gt;210&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:7pt;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:7pt;color:#000000;' &gt;210&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:7pt;color:#000000;' &gt;109&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:7pt;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:7pt;color:#000000;' &gt;109&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:7pt;color:#000000;' &gt;231&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:7pt;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:7pt;color:#000000;' &gt;231&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;Remeasurements:&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:7pt;color:#000000;' &gt;783&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:7pt;color:#000000;' &gt;454&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:7pt;color:#000000;' &gt;329&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:7pt;color:#000000;' &gt;(263)&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:7pt;color:#000000;' &gt;(286)&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:7pt;color:#000000;' &gt;21&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:7pt;color:#000000;' &gt;331&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:7pt;color:#000000;' &gt;161&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:7pt;color:#000000;' &gt;171&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:#666666;' &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:45pt;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;-&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:7pt;color:#000000;' &gt;454&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:7pt;color:#000000;' &gt;(454)&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:7pt;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:7pt;color:#000000;' &gt;(286)&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:7pt;color:#000000;' &gt;286&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:7pt;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:7pt;color:#000000;' &gt;161&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:7pt;color:#000000;' &gt;(161)&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:#666666;' &gt;From changes in demographic assumptions&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:7pt;color:#000000;' &gt;(15)&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:7pt;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:7pt;color:#000000;' &gt;(15)&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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;100&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:7pt;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:7pt;color:#000000;' &gt;100&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:#666666;' &gt;From changes in financial assumptions&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:7pt;color:#000000;' &gt;688&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:7pt;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:7pt;color:#000000;' &gt;688&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:7pt;color:#000000;' &gt;(274)&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:7pt;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:7pt;color:#000000;' &gt;(274)&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:7pt;color:#000000;' &gt;220&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:7pt;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:7pt;color:#000000;' &gt;220&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:#666666;' &gt;Other actuarial gain and losses&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:7pt;color:#000000;' &gt;110&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:7pt;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:7pt;color:#000000;' &gt;110&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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;12&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:7pt;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:7pt;color:#000000;' &gt;12&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;Benefit payments&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:7pt;color:#000000;' &gt;(905)&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:7pt;color:#000000;' &gt;(187)&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:7pt;color:#000000;' &gt;(718)&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:7pt;color:#000000;' &gt;(979)&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:7pt;color:#000000;' &gt;(200)&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:7pt;color:#000000;' &gt;(779)&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:7pt;color:#000000;' &gt;(1,029)&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:7pt;color:#000000;' &gt;(169)&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:7pt;color:#000000;' &gt;(861)&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;Effect on changes in foreign exchange rates&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:7pt;color:#000000;' &gt;63&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:7pt;color:#000000;' &gt;69&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:7pt;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:7pt;color:#000000;' &gt;(31)&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:7pt;color:#000000;' &gt;(9)&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:7pt;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:7pt;color:#000000;' &gt;(278)&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:7pt;color:#000000;' &gt;(258)&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:7pt;color:#000000;' &gt;(19)&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;Conversions to defined contributions&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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;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:7pt;color:#000000;' &gt;(82)&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:7pt;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:7pt;color:#000000;' &gt;(82)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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: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;19&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;6&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;13&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;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:7pt;color:#000000;' &gt;6&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;4&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;(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:7pt;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:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &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:#5AC4C4;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: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:#5AC4C4;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;8,116&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:#5AC4C4;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;3,493&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:#5AC4C4;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;4,623&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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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;/tr&gt;&lt;tr style='height:9pt;' &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-style:italic;color:#A5A5A5;' &gt;Of which: Spain&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:7pt;color:#A5A5A5;' &gt;4,592&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:7pt;color:#A5A5A5;' &gt;266&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:7pt;color:#A5A5A5;' &gt;4,326&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:7pt;color:#A5A5A5;' &gt;4,807&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:7pt;font-style:italic;color:#A5A5A5;' &gt;260&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:7pt;font-style:italic;color:#A5A5A5;' &gt;4,547&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:7pt;font-style:italic;color:#A5A5A5;' &gt;5,442&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:7pt;font-style:italic;color:#A5A5A5;' &gt;320&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:7pt;font-style:italic;color:#A5A5A5;' &gt;5,122&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;font-style:italic;color:#A5A5A5;' &gt;Of which: Mexico&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:7pt;color:#A5A5A5;' &gt;2,231&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:7pt;color:#A5A5A5;' &gt;2,124&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:7pt;color:#A5A5A5;' &gt;107&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:7pt;color:#A5A5A5;' &gt;1,615&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:7pt;font-style:italic;color:#A5A5A5;' &gt;1,587&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:7pt;font-style:italic;color:#A5A5A5;' &gt;28&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:7pt;font-style:italic;color:#A5A5A5;' &gt;1,661&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:7pt;font-style:italic;color:#A5A5A5;' &gt;1,602&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:7pt;font-style:italic;color:#A5A5A5;' &gt;60&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;font-style:italic;color:#A5A5A5;' &gt;Of which: The United States&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:7pt;color:#A5A5A5;' &gt;375&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:7pt;color:#A5A5A5;' &gt;323&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:7pt;color:#A5A5A5;' &gt;52&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:7pt;color:#A5A5A5;' &gt;326&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:7pt;font-style:italic;color:#A5A5A5;' &gt;287&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:7pt;font-style:italic;color:#A5A5A5;' &gt;39&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:7pt;font-style:italic;color:#A5A5A5;' &gt;360&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:7pt;font-style:italic;color:#A5A5A5;' &gt;309&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:7pt;font-style:italic;color:#A5A5A5;' &gt;51&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;font-style:italic;color:#A5A5A5;' &gt;Of which: Turkey&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:7pt;color:#A5A5A5;' &gt;444&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:7pt;color:#A5A5A5;' &gt;359&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:7pt;color:#A5A5A5;' &gt;86&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:7pt;color:#A5A5A5;' &gt;422&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:7pt;font-style:italic;color:#A5A5A5;' &gt;339&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:7pt;font-style:italic;color:#A5A5A5;' &gt;83&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:7pt;font-style:italic;color:#A5A5A5;' &gt;520&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:7pt;font-style:italic;color:#A5A5A5;' &gt;424&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:7pt;font-style:italic;color:#A5A5A5;' &gt;96&lt;/font&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:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:35.45pt;' &gt;(1)   Including gains and losses arising from settlements.&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:6pt;margin-left:35.4pt;' &gt;(2)   Excluding interest, which &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;is recorded under &amp;quot;Interest income or expense&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:8pt;margin-left:0pt;' &gt;The balance 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, 2019 includes &amp;#8364;351 million relatin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;g to post-employment benefit commitments to former members 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:8pt;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 remai&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ning 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&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:8pt;margin-left:0pt;' &gt;Bot&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;h the costs and the present value of the commitments are determined by independent qualified actuaries using the &amp;#8220;projected unit credit&amp;#8221; method. In order to enable the good governance of these plans, the Group has established specific benefits committees. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;These benefit committees include members from the different areas of the business to assist 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:8pt;margin-left:0pt;' &gt;The following table sets out the key actuarial assumptions used in the valuatio&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n of these commitments as of December 31, 2019, 2018 and 2017:&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:507.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:507.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#02A5A5;' &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: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:6pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:126pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:126pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:126pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:126pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:126pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:126pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:34.5pt;' &gt;&lt;td style='width:129.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &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:31.5pt;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:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;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:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;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:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;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:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;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:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Spain &lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;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:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;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:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;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:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;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:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;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:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;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:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;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:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.5pt;' &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:6pt;color:#000000;' &gt;Discount rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;0.68%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9.04%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.24%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12.50%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.28%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10.45%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.23%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;16.30%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1.24%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9.48%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3.57%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11.60%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.5pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Rate of salary increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.75%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9.70%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.75%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;14.00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4.75%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9.90%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Rate of pension increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.47%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8.20%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.51%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12.50%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2.13%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8.40%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Medical cost trend rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7.00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12.40%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7.00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;16.70%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7.00%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12.60%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td style='width:129.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:129.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Mortality tables&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;PERM/F 2000P&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;EMSSA09&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;RP 2014&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;CSO2001&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;PERM/F 2000P&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;EMSSA09&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;RP 2014&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;CSO2001&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;PERM/F 2000P&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;EMSSA09&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;RP 2014&lt;/font&gt;&lt;/td&gt;&lt;td style='width:31.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:31.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;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:10pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;In Spain, the discount rate shown as of December, 31, 2019, corresponds to the weighted average rate, the actual discount rates used are 0% and 1% depending on the type o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;f commitment.&lt;/font&gt;&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;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 govern&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ment bonds denominated in Turkish Lira 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:8pt;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:8pt;margin-left:0pt;' &gt;Assumed retirement ages have been set by reference to the earliest age at which employees are entitled to retire, the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; contractually agreed age in the case 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:8pt;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 cha&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nges 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:528pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:528pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:198pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:198pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:66pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Basis points change&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:132pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:132pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:132pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:132pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:198pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:198pt;' &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:66pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Decrease&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Decrease&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:198pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:198pt;' &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:66pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(367)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;405&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(298)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &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:12.75pt;' &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:8pt;color:#000000;' &gt;Rate of salary increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &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:12.75pt;' &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:8pt;color:#000000;' &gt;Rate of pension increase&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#000000;' &gt;Medical cost trend rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;338&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(266)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;229&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(181)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &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:8pt;color:#000000;' &gt;Change in obligation from each additional year of longevity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;137&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;108&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66pt;' &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:10pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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 th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e rest of the assumptions unchanged, thereby 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:8pt;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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;-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, 2019, 2018 and 2017, the actuarial liabilities for&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the outstanding awards amounted to &amp;#8364;61, &amp;#8364;62 million and &amp;#8364;67 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:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;25.1.1   Pos&lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;t-employment commitments and similar 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:8pt;margin-left:0pt;' &gt;These commitments relate mostly to pension payments, 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 disabilit&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;y.&lt;/font&gt;&lt;/p&gt;&lt;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;In addition, during the year 2019, 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 616 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;employees (489 and 731 during years 2018 and 2017, respectively). These commitments include the compensation and indemnities due as well as the contributions payable to external pension funds during the early retirement period. As of December 31, 2019, 201&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;8 and 2017, the value of these commitments amounted to &amp;#8364;1,486, &amp;#8364;1,793 million and &amp;#8364;2,210 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:8pt;margin-left:0pt;' &gt;The change in the benefit plan obligations and plan assets during the year ended December 31, 2019 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: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:#02A5A5;' &gt;Post-employment commitments  2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:213.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:266.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Defined benefit obligation&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30pt;' &gt;&lt;td style='width:213.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:213.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:213.75pt;' &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:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &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:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;512&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;326&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;422&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:213.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Current service cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &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:9pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Interest income or expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;64&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &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:9pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Contributions by plan participants&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &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:9pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Past service costs &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:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;190&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &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:9pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Remeasurements:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;298&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;99&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &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:9pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;From changes in demographic assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &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:9pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;From changes in financial assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;239&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(41)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &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:9pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other actuarial gain and losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &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:9pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Benefit payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(766)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(50)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(14)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Effect on changes in foreign exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;32&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(44)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &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:9pt;' &gt;&lt;td style='width:213.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &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:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &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:9pt;' &gt;&lt;td style='width:213.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:213.75pt;' &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:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,592&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;664&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;375&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;444&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;460&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:213.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which: Vested benefit obligation relating to current employees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#787878;' &gt;86&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#A6A6A6;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#A6A6A6;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#A6A6A6;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#A6A6A6;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:213.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which: Vested benefit obligation relating to retired employees&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-style:italic;color:#787878;' &gt;4506&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#A6A6A6;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#A6A6A6;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#A6A6A6;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:53.25pt;text-align:right;vertical-align:middle;background-color:#A7A7A7;border-color:Black;min-width:53.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#A6A6A6;' &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:468.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:468.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Post-employment commitments  2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:266.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:202.5pt;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:202.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Plan assets&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:266.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &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:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:266.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:266.25pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;260&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;441&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;287&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;339&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;366&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Interest income or expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Contributions by plan participants&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Employer contributions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Remeasurements:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Return on plan assets &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:9pt;color:#0066CC;' &gt;(2)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;67&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Benefit payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(64)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(50)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Business combinations and disposals&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Effect on changes in foreign exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(34)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &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:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:266.25pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;266&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;592&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;323&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;359&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;422&lt;/font&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:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:35.45pt;' &gt;(1)   Including gains and losses arising from settlements.&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:6pt;margin-left:35.45pt;' &gt;(2)   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;table style='border-collapse:collapse;' &gt;&lt;tr style='height:11.25pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:468.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:468.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Post-employment commitments  2019 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:266.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:202.5pt;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:202.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Net liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:266.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &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:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:266.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:266.25pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,547&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:266.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Current service cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Interest income or expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Employer contributions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(47)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(14)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Past service costs &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:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;190&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Remeasurements:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;231&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Return on plan assets &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;(2)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(67)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(90)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;From changes in demographic assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;From changes in financial assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;239&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(41)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other actuarial gain and losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Benefit payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(702)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Business combinations and disposals&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Effect on changes in foreign exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &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:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:266.25pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;52&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;86&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;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:3pt;margin-bottom:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:35.45pt;' &gt;(1)   Including gains and losses arising from settlements.&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:6pt;margin-left:35.4pt;' &gt;(2&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;)   Excluding interest, which is recorded under &amp;quot;Interest income or expense&amp;quot;.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &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:8pt;margin-left:0pt;' &gt;The change in net liabilities (assets) during the years ended 2018 and 2017 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:521.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:521.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#02A5A5;' &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:161.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:180pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:180pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2018: Net liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:180pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:180pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2017: Net liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:161.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &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:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;5,122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &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:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;36&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;5,799&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(59)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;46&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;99&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:161.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Current service cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Interest income or expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;73&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Contributions by plan participants&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Employer contributions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(16)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(8)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Past service costs (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;148&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;235&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Remeasurements:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;88&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(67)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &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:9pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Return on plan assets (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;70&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(101)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;From changes in demographic assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;From changes in financial assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(45)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;81&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Other actuarial gain and losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(32)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;32&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Benefit payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(763)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(842)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Effect on changes in foreign exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(5)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(21)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Conversions to defined contributions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(82)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &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:161.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Other  effects&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:36pt;' &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:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;4,547&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;36&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;5,122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &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:36pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:36pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;36&lt;/font&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:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:35.45pt;' &gt;(1)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Includes gains and losses from settlements.&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:6pt;margin-left:35.4pt;' &gt;(2)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Excludes interest which is reflected in the line item &amp;#8220;Interest income and expense&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:8pt;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;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;In the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;S.A. &amp;#8211; a consolidated subsidiary and related party &amp;#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 &amp;quot;Provisions &amp;#8211; Pensions &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and other postemployment defined benefit 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 classi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;fication of the corresponding financial instruments). As of December 31, 2019 the value of these separate assets was &amp;#8364;2,620 million, (&amp;#8364;2,543 and &amp;#8364;2,689 million as of December 31, 2018 and 2017, respectively) representing direct rights of the insured employ&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ees held in the consolidated balance sheet, hence these benefits are effectively fully funded.&lt;/font&gt;&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;On the other hand, some pension commitments have been funded through insurance contracts with insurance companies not related to the Group. In this case the acco&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;mpanying consolidated balance sheet reflects the value of the obligations net of the fair value of the qualifying insurance policies. As of December 31, 2019, 2018 and 2017, the value of the aforementioned insurance policies (&amp;#8364;266, &amp;#8364;260 and &amp;#8364;320 million, r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;espectively) 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:8pt;margin-left:0pt;' &gt;Pensions benefits are paid by the insurance companies with whom BBVA has insurance&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; contracts 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 enable that benefits can be met when due, enabling 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:8pt;margin-left:0pt;' &gt;In M&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;exico, 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:8pt;margin-left:0pt;' &gt;In the Unite&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d States there are two defined benefit plans, 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:8pt;margin-left:0pt;' &gt;In 2008, the Turkish go&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;vernment 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:8pt;margin-left:0pt;' &gt;The financial sector is in this stage at present, maint&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;aining 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:8pt;margin-left:0pt;' &gt;The foundation that maintains the assets and liabilities relating to employees of Garanti in Turkey, as per the local regulatory requirements, ha&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s registered an obligation amounting to &amp;#8364;286 million as of December 31, 2019 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:8pt;margin-left:0pt;' &gt;Furthermore, Garanti has set up a defined benefit pension plan for employees, additional to the social security benefits, re&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;flected in the consolidated balance sheet.&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:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;25.1.2   Medical benefit commitments&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;The change in defined benefit obligations and plan assets during the years 2019, 2018 and 2017 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:558pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:558pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;Medical benefits commitments&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30pt;' &gt;&lt;td style='width:159.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &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:#072146;' &gt;2019&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:#072146;' &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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:42.75pt;' &gt;&lt;td style='width:159.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#0A5FB4;' &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:center;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Defined benefit obligation&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:center;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Plan assets&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:center;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Net liability (asset)&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:center;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Defined benefit obligation&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:center;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Plan assets&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:center;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Net liability (asset)&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:center;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Defined benefit obligation&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:center;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Plan assets&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:center;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Net liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:159.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:159.75pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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;tr style='height:9pt;' &gt;&lt;td style='width:159.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &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:44.25pt;border-top-style:solid;border-top-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;color:#000000;' &gt;21&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:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&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:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-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;color:#000000;' &gt;27&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:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&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:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-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;color:#000000;' &gt;26&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:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&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:Black;min-width:44.25pt;' &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:9pt;' &gt;&lt;td style='width:159.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;119&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;123&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;101&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;112&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:159.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(71)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:159.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &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:5pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(42)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(42)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:159.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Remeasurements:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;298&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;224&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;74&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(210)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(164)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(47)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;200&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;179&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:159.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;Return on plan assets &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;(2)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;224&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(224)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(164)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;164&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:9pt;' &gt;&lt;td style='width:159.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:159.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;311&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;311&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(182)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(182)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;128&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:159.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:9pt;' &gt;&lt;td style='width:159.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(39)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(39)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(34)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(35)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:159.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Business combinations and disposals&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:159.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;68&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(92)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(100)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:9pt;' &gt;&lt;td style='width:159.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &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:44.25pt;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;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:159.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:159.75pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,580&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;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,532&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;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;48&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;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;91&lt;/font&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:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:35.45pt;' &gt;(1)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Including gains and losses &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;arising from settlements.&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:6pt;margin-left:35.4pt;' &gt;(2)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Excluding interest, which is recorded under &amp;quot;Interest income or expense&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:8pt;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 ex&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ternal trust has been constituted locally to fund the plan, in accordance with local legislation 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:8pt;margin-left:0pt;' &gt;In Turkey, employees are currently provided with medical benefits through a foundation in collaboration with the Social Security system, alth&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ough local legislation prescribes the future unification of this and similar systems into 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:8pt;margin-left:0pt;' &gt;The valuation of these benefits and their accounting treatment follow the same methodology as that employed in the valuatio&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n of pension commitments.&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;25.1.3   Estimated benefit 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:8pt;margin-left:0pt;' &gt;As of December 31, 2019, the 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:477.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:477.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:center;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: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:#072146;' &gt;2020&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:#072146;' &gt;2021&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:#072146;' &gt;2022&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:#072146;' &gt;2023&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:#072146;' &gt;2024&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:#072146;' &gt;2025-2029&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:56.25pt;border-top-style:solid;border-top-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;621&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;544&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;border-top-style:solid;border-top-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;449&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;360&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;border-top-style:solid;border-top-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;288&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;903&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: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;106&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;110&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;117&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;125&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;132&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;808&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 the United States&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;17&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;18&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;19&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;19&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;20&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;107&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: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;20&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;22&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;18&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;22&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;25&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;200&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:#5AC4C4;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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;764&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;694&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;603&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;526&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;465&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,018&lt;/font&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:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;25.1.4 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;  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:8pt;margin-left:0pt;' &gt;The majority of the Group&amp;#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 fu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nded and covered through internally held provisions, principally those relating to early retirements.&lt;/font&gt;&lt;/p&gt;&lt;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;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 t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he Group sponsoring entities assets, they are available only to pay post-employment 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:8pt;margin-left:0pt;' &gt;To manage the assets associated with defined benefit plans, BBVA Group has established investment polic&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ies designed according to criteria of prudence and minimizing the financial risks associated 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:8pt;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 ben&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;efit obligation and which, together with contributions made to the plan, will be sufficient to meet benefit payments when due, thus mitigating the plans&amp;#8216; 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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;In those countries where plan assets are held in pension funds or trusts, the investment policy&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;to consideration the term of the benefit obligations as well as short-term liquidity 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:8pt;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 t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he 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.&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;The table below shows &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the allocation of plan assets of the main companies of the BBVA Group as of December 31, 2019, 2018 and 2017:&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:771pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:771pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:334.5pt;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:334.5pt;' &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:145.5pt;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:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;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:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;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:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:334.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:334.5pt;' &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:145.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;68&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:334.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:334.5pt;' &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:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &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:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,080&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,178&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:334.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:334.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Property&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &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:12.75pt;' &gt;&lt;td style='width:334.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:334.5pt;' &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:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &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:12.75pt;' &gt;&lt;td style='width:334.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:334.5pt;' &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:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;142&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;132&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &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:12.75pt;' &gt;&lt;td style='width:334.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:334.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other investments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &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:13.5pt;' &gt;&lt;td style='width:334.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#09C4C4;border-color:Black;min-width:334.5pt;' &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:145.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#09C4C4;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,869&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#09C4C4;border-color:Black;min-width:145.5pt;' &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;td style='width:145.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#09C4C4;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,261&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:334.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:334.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which: Bank account in BBVA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:334.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:334.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which: Debt securities issued by BBVA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &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:10pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;In addition to the above there are plan assets relating to the previously mentioned insurance contracts in Spain and the fo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;undation 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:8pt;margin-left:0pt;' &gt;The following table provides details of investments in listed securities (Level 1) as of December 31, 2019, 2018 and 2017:&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:771pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:771pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Investments in listed markets&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30pt;' &gt;&lt;td style='width:334.5pt;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:334.5pt;' &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:145.5pt;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:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;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:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;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:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:334.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:334.5pt;' &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:145.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;68&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:334.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:334.5pt;' &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:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &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:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,080&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,178&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:334.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:334.5pt;' &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:145.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &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:334.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:334.5pt;' &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:145.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,727&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:145.5pt;' &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;td style='width:145.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,247&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:334.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:334.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which: Bank account in BBVA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:334.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:334.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which: Debt securities issued by BBVA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &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:10pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The remainders of the assets are mainly invested in Level 2 assets in in accordance with&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the classification established under IFRS 13 (mainly insurance contracts). As of December 31, 2019, almost all of the assets related to employee commitments corresponded to fixed income securities.&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;font-weight:bold;margin-left:0pt;color:#004480;' &gt;25.2   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:8pt;margin-left:0pt;' &gt;Certain &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Group&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; entities &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sponsor defined contribution plans. Some of these plans allow employees to make contributions which are then matched by the employer.&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:8pt;margin-left:0pt;' &gt;Contributions are recognized as and when they are accrued, with a charge to the consolidated income statement in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the corresponding year. No liability is therefore recognized in the accompanying consolidated balance sheet (see Note 44.1).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfEmployeeBenefitsExplanatory>
  <bbva:Disclosureofcommonstockexplanatory id="ID_10055" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;26.   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:8pt;margin-left:0pt;' &gt;As of December 31, 2019, 2018 and 2017, BBVA&amp;#8217;s common stock amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;3,267,264,424.20&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; divided into 6,667,886,580 fully subscribed and paid-up registered shares, all of the same class and series, at &amp;#8364;0.49 par value each, represented through book-entries. All of the Bank shares carry the same voting and dividend rights, and no single stockho&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lder 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:8pt;margin-left:0pt;' &gt;The Bank&amp;#8217;s shares are traded on the stock markets of Madrid, Barcelona, Bilbao and Valencia through the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;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:8pt;font-style:italic;' &gt;,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; as well as on the London and Mexico stock markets. BBVA American Depositary Shares (ADSs) traded on 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:8pt;margin-left:0pt;' &gt;Additionally, as of December 31, 2019, the shares of Banco BBVA Peru, S.A.; Banco Provincial, S.A.; Banco BBVA Colombia, S.A.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;; Banco BBVA Argentina, S.A. and Garanti BBVA A.S., were listed on their respective local stock markets. Banco BBVA Argentina, S.A. was also quoted in the Latin American market (Latibex) of the Madrid Stock Exchange and the New York Stock Exchange. Also, t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he Depositary Receipts (&amp;#8220;DR&amp;#8221;) of Garanti BBVA, A.S. are listed in the London 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:8pt;margin-left:0pt;' &gt;As of December 31, 2019, State Street Bank and Trust Co., The Bank of New York Mellon SA NV and Chase Nominees Ltd in their capacity as international custodian/depo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sitary banks, held &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;11.68%&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;2.03%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;6.64%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 stoc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;k 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:8pt;margin-left:0pt;' &gt;On February 5, 2020, Blackrock, Inc. reported to the SEC that, as of December 31, 2019, it beneficially owned 6.3% of BBVA&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:8pt;margin-left:0pt;' &gt;On February 3, 2020, Norges Bank reported to the Spanish Securities and Exchange Commission (CNMV) tha&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t it had an indirect holding of BBVA S.A. common stock totaling 3.066%, of which 3.051% are voting rights attributed to shares, and 0.015% are voting rights through 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:8pt;margin-left:0pt;' &gt;BBVA is not aware of any direct or indirect interests through which &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;BBVA banking subsidiaries, associates and joint ventures worldwide, are subject to supervision and regulation from a variety of regulatory bodies in relation &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e 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 regu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lators 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.&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:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Resolutions adopted by the Annual General Meeting&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Capital increase&lt;/font&gt;&lt;/p&gt;&lt;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;BBVA&amp;#8217;s AGM held on March 17, 2017 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, within the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;legal 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; partially 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 also be made with the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 and this limit not being applicabl&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e to contingent convertible issues) shall not exceed the nominal maximum 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: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;As of the date of this document, the Bank&amp;#8217;s Board of Directors has not exercised the authority con&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ferred by the AGM.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;&amp;#8220;Dividend Option&amp;#8221; Program 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:8pt;margin-left:0pt;' &gt;Note 4 introduces the details of the remuneration system &amp;#8220;Dividend Option&amp;#8221;.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;margin-left:0pt;color:#004580;' &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:8pt;margin-left:0pt;' &gt;Note 22.4&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;introduces the details of the convertible and/or exchangeable securities.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofcommonstockexplanatory>
  <bbva:Disclosureofsharepremiumexplanatory id="ID_10056" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;27.   Share premium&lt;/font&gt;&lt;/p&gt;&lt;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;As of December 31, 2019, 2018 and 2017, 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:8pt;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:8pt;' &gt;increase capital and establishes no specific restrictions as to its use&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; (see Note 26).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofsharepremiumexplanatory>
  <ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory id="ID_10057" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;28.   Retained earnings, revaluation reserves and other reserves&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:10pt;margin-bottom:12pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004481;' &gt;28.1   Breakdown of the balance &lt;/font&gt;&lt;/p&gt;&lt;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;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:21pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:390.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:390.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:213.75pt;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:213.75pt;' &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: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:8pt;font-weight:bold;color:#0A5FB4;' &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:8pt;font-weight:bold;color:#072146;' &gt;2019&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:8pt;font-weight:bold;color:#072146;' &gt;2018&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:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:213.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:213.75pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;653&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;653&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;644&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:213.75pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;124&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;133&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:13.5pt;' &gt;&lt;td style='width:213.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:213.75pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:13.5pt;' &gt;&lt;td style='width:213.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:213.75pt;' &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:44.25pt;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:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:8pt;color:#000000;' &gt;8,331&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:8pt;color:#000000;' &gt;8,010&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:8pt;color:#000000;' &gt;8,643&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:213.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:213.75pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;9,108&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;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td style='width:213.75pt;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:213.75pt;' &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: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:8pt;color:#000000;' &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:8pt;color:#000000;' &gt;17,169&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:8pt;color:#000000;' &gt;14,222&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:8pt;color:#000000;' &gt;14,266&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:213.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:213.75pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;26,277&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;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;23,724&lt;/font&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:10pt;margin-bottom:12pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004481;' &gt;28.2   Legal reserve &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:8pt;margin-left:0pt;' &gt;Under the amended Spanish 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:8pt;margin-left:0pt;' &gt;The legal reserve can be used to increase the common s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tock 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 av&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ailable.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:10pt;margin-bottom:12pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004481;' &gt;28.3   Restricted reserves&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;As of December 31, 2019, 2018 and 2017, 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='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:#02A5A5;' &gt;Restricted 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: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:#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:#072146;' &gt;2019&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:#072146;' &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:#072146;' &gt;2017&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:bottom;border-color:Black;min-width:282pt;' &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: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;88&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;88&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;88&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;Restricted reserve for parent company shares and loans for those shares&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;34&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;44&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;69&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;Restricted reserve for redenomination of capital in euros&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;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;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;2&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:#5AC4C4;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: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:#5AC4C4;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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;124&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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;159&lt;/font&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:8pt;margin-left:0pt;' &gt;The restricted reserve for retired capital resulted from the reduction of the nominal par value of the BBVA &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;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 loans outstanding at those dates that were granted for the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:8pt;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 the redenomination of the parent company common stock in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;euros.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:10pt;margin-bottom:12pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0pt;color:#004481;' &gt;28.4   Retained earnings, revaluation reserves and other reserves by 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:8pt;margin-left:0pt;' &gt;The breakdown, by company or corporate group, under the headings &amp;#8220;Retained earnings, revaluation reserves&amp;#8221; and &amp;#8220;other reserves&amp;#8221; in the accompanying consolidated balance shee&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ts 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:533.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:533.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:308.25pt;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:308.25pt;' &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: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:#0A5FB4;' &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:#072146;' &gt;2019&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:#072146;' &gt;2018&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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;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:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Retained earnings (losses) and revaluation reserves&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:#004481;' &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:#004481;' &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:#004481;' &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:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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:56.25pt;border-top-style:solid;border-top-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;&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,623&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,701&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,759&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Mexico Group&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;10,645&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;10,014&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;9,442&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Garanti BBVA Group&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;1,985&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;1,415&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;751&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;1,130&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;998&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;926&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Corporaci&amp;#243;n General Financiera S.A.&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;932&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;1,084&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;1,202&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Per&amp;#250; Group&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;848&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;756&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;681&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBV Am&amp;#233;rica, S.L.&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;247&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;217&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;195&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Catalunyacaixa Inmobiliaria, S.A.&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;225&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;233&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;11&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;597&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;552&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;951&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;130&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;119&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;108&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;62&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;49&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;(73)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;47&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;108&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;(20)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;27&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;(33)&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;(47)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;(13)&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;25&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;(48)&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;(48)&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&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;(50)&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;(74)&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;(76)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;(52)&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;(53)&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;(57)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;(59)&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;(66)&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;(436)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;(99)&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;(127)&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;(215)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Venezuela Group&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;(125)&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;(124)&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;(113)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;(317)&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;(586)&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;(794)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Argentina Group&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;35&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;103&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;999&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;(587)&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;363&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;515&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;(594)&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;(587)&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;(576)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;(5,375)&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;(5,317)&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;(4,881)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:308.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;&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;188&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;(618)&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;(544)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:308.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;26,402&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;23,079&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;23,758&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;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:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Other reserves or accumulated losses of investments in joint ventures and associates&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:#004481;' &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:#004481;' &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:#004481;' &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:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Metrovacesa, S.A.&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: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;border-top-style:solid;border-top-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;(75)&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(61)&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(53)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &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: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;(56)&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;(28)&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)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width: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;&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;6&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;31&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;30&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:308.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:308.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(58)&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(35)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:308.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:308.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;26,277&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;23,724&lt;/font&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:8pt;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 from the dividends paid and transactions between these enti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ties are taken into account in the period in which they took place.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory>
  <ifrs-full:DisclosureOfTreasurySharesExplanatory id="ID_10058" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;29.   Treasury 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:8pt;margin-left:0pt;' &gt;In the years ended December 31, 2019, 2018 and 2017 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: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:#02A5A5;' &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:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' 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:6pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' 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:6pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' 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:6pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:35.1pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &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:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Number of Shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Millions of Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Number of Shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Millions of Euros&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Number of Shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Millions of Euros&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:7.9pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:192.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:9pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt; + Purchases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;214,925,699&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,088&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,674&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:192.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(249,566,201)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,298)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(1,622)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:192.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(23)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:7.9pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:192.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;12,617,189&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;12,617,189&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;47,257,691&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;296&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;13,339,582&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:192.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5.06&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:11.25pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:192.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;5.20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:10.5pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:192.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;(24)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/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:8pt;margin-left:0pt;' &gt;The percentages of treasury shares held by the Group in the years &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ended December 31, 2019, 2018 and 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:12pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:515.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:515.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;Treasury Stock&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:150.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:150.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.95pt;' &gt;&lt;td style='width:150.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:150.75pt;' &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:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Min&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Max&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Closing&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Min&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Max&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Closing&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Min&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Max&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Closing&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:150.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:150.75pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.138%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.746%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.213%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;0.200%&lt;/font&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:8pt;margin-left:0pt;' &gt;The number of BBVA shares accepted by the Group in pledge of loans as of December 31, 2019, 2018 and 2017 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: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:#02A5A5;' &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:234.75pt;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:234.75pt;' &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:61.5pt;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:61.5pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:234.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:234.75pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43,018,382&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;64,633,003&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:234.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:234.75pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:234.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:234.75pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.65%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.97%&lt;/font&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:8pt;margin-left:0pt;' &gt;The number of BBVA shares owned by&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; third parties but under management of a company within the Group as of December 31, 2019, 2018 and 2017 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: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:#02A5A5;' &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:234.75pt;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:234.75pt;' &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:61.5pt;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:61.5pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:234.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:234.75pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,807,398&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;34,597,310&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:234.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:234.75pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:234.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:234.75pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.36%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.52%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfTreasurySharesExplanatory>
  <bbva:Accumulatedothercomprehensiveincomeexplanatory id="ID_10059" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;30.   Accumulated other comprehensive income&lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt; (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:8pt;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: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:#02A5A5;' &gt;Accumulated other comprehensive income (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:19.5pt;' &gt;&lt;td style='width:297.75pt;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:297.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#44546A;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017(*)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:297.75pt;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:297.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Items that will not be reclassified to profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(1,875)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(1,284)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(1,183)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:297.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Actuarial gains (losses) on defined benefit pension plans&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,498)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,183)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:297.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:45.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:18pt;' &gt;&lt;td style='width:297.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:45.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(403)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(155)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:45.75pt;' &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:18pt;' &gt;&lt;td style='width:297.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:45.75pt;' &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:18pt;' &gt;&lt;td style='width:297.75pt;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:297.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Items that may be reclassified to profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(5,359)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(5,932)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(5,755)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:297.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(896)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(218)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:12.75pt;' &gt;&lt;td style='width:297.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:45.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6,161)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7,297)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:297.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:45.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(44)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:12.75pt;' &gt;&lt;td style='width:297.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:45.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,641&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:297.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:45.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,760&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;943&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:45.75pt;' &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:297.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:45.75pt;text-align:center;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(18)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:18pt;' &gt;&lt;td style='width:297.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:297.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:297.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(7,235)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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;/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:0pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*) See Note 1.3&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &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:8pt;margin-left:0pt;' &gt;The balances recognized under these &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;headings are presented net of tax.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Accumulatedothercomprehensiveincomeexplanatory>
  <ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory id="ID_10060" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;31.   Non-controlling 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:8pt;margin-left:0pt;' &gt;The table below is a 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &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:12pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:393pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:393pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Non-controlling interests: breakdown by subgroups (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td style='width:224.25pt;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:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#44546A;' &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:#072146;' &gt;2019&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:#072146;' &gt;2018&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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Garanti BBVA&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,240&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:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-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;4,903&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Peru&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;1,334&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;1,167&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;1,059&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Argentina&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;422&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;352&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;420&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Colombia&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;76&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;67&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;65&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Venezuela&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;71&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;67&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;78&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:224.25pt;' &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: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;57&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;53&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;454&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:224.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,201&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &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;/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:8pt;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:393pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:393pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Profit attributable to non-controlling interests (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:22.5pt;' &gt;&lt;td style='width:224.25pt;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:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#44546A;' &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:#072146;' &gt;2019&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:#072146;' &gt;2018&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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Garanti BBVA&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;524&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:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;585&lt;/font&gt;&lt;/td&gt;&lt;td style='width:56.25pt;border-top-style:solid;border-top-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;883&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Peru&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;236&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;227&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;208&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Argentina&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;60&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;(18)&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;93&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Colombia&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;11&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&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;7&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Venezuela&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;(1)&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;(5)&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;(2)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &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: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;4&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;30&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;55&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:224.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;833&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,243&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:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Dividends distributed to non-controlling interest of the Group during the year 2019 are: BBVA Peru Group &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;115 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;million, BBVA Argentina Group &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;16 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;million, BBVA Colombia Group &amp;#8364;3 million and other Group entities accounted for &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;8 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;million.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory>
  <ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory id="ID_10061" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;33.   Commitments and guarantees given&lt;/font&gt;&lt;/p&gt;&lt;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;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:13.5pt;' &gt;&lt;td colspan='5' 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:8pt;color:#02A5A5;' &gt;Commitments and guarantees given (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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: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:#072146;' &gt;Notes&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:#072146;' &gt;2019&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:#072146;' &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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:303pt;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:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Loan commitments given&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;7.1.2&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;130,923&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;118,959&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;94,268&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which: defaulted&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;font-style:italic;color:#666666;' &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;font-style:italic;color:#787878;' &gt;270&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;font-style:italic;color:#787878;' &gt;247&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;font-style:italic;color:#787878;' &gt;537&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;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:#787878;' &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;td style='width:49.5pt;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&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;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:#787878;' &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;3,117&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;2,318&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;2,198&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;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:#787878;' &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;11,742&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;9,635&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;946&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;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:#787878;' &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;4,578&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;5,664&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;3,795&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;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:#787878;' &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;65,475&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;58,405&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;font-style:italic;color:#000000;' &gt;58,133&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Households &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:#787878;' &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;46,011&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;42,936&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;29,195&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:303pt;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:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Financial guarantees given (*) &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;7.1.2&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;10,984&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;16,454&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;16,545&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which: defaulted&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:#666666;' &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;font-style:italic;color:#787878;' &gt;224&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;font-style:italic;color:#787878;' &gt;332&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;font-style:italic;color:#787878;' &gt;278&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#787878;' &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;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: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:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#787878;' &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;125&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;248&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#787878;' &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;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;1,274&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;1,158&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#787878;' &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;583&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;730&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;3,105&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#787878;' &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;8,986&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;13,970&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;11,518&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Households &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:#787878;' &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;295&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;319&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;516&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:303pt;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:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Other commitments given &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;7.1.2&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;39,209&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;35,098&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;45,738&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which: defaulted&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;font-style:italic;color:#666666;' &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;font-style:italic;color:#787878;' &gt;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;font-style:italic;color:#787878;' &gt;408&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;font-style:italic;color:#787878;' &gt;461&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;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:#787878;' &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;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:8pt;font-style:italic;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:8pt;font-style:italic;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;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:#787878;' &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;521&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;248&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;227&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;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:#787878;' &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;5,952&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;5,875&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;15,330&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;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:#787878;' &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;2,902&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;2,990&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;font-style:italic;color:#000000;' &gt;3,820&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:49.5pt;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:#787878;' &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;29,682&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;25,723&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;25,992&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:303pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Households &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:#787878;' &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;151&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;261&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;362&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total commitments and guarantees given&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:#5AC4C4;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7.1.2&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:#5AC4C4;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;181,116&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:#5AC4C4;border-color:Black;min-width:49.5pt;' &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: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:#5AC4C4;border-color:Black;min-width:49.5pt;' &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;/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;sup&gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:35.45pt;' &gt;(*)&lt;/font&gt;&lt;/sup&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;  Non-performing financial guarantees given amounted to &amp;#8364;730, &amp;#8364;740 and &amp;#8364;739 million, respectively, as of December 31,   2019, 2018 and 2017.&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:8pt;margin-left:0pt;' &gt;As of December 31, 2019, the provisions for loan commitments given, financial guarantees given and other commitment&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s given, recorded in the consolidated balance sheet amounted &amp;#8364;341 million, &amp;#8364;219 million and &amp;#8364;151 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:8pt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;balance of these commitments cannot be considered to be 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:8pt;margin-left:0pt;' &gt;In the years 2019, 2018 and 2017, no issuance of debt securities carried out by associates o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;f 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:Disclosureofothercontingentassetsandliabilitiesexplanatory id="ID_10062" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;34.   Other contingent 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:8pt;margin-left:0pt;' &gt;As of December, 2019, 2018 and 2017 there were no material contingent assets or liabilities other than those disclosed in the accompanying Notes to the consolidated financial statements.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofothercontingentassetsandliabilitiesexplanatory>
  <ifrs-full:DisclosureOfRepurchaseAndReverseRepurchaseAgreementsExplanatory id="ID_10063" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;35. Purchase and sale commitments and future payment 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:8pt;margin-left:0pt;' &gt;The breakdown of purchase and sale commitments of the BBVA Group as of December 31, 2019, 2018 and 2017 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:#02A5A5;' &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: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:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&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:middle;background-color:#5AC4C4;border-color:Black;min-width:287.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;45,956&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &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;/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;Financial liabilities held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;41,902&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;7,635&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;10,511&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;24,578&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;14,839&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;9,689&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;11,466&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;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;Financial liabilities at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,054&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;40,077&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;826&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;375&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;6,155&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;2,693&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;4,593&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;24,843&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:middle;border-color:Black;min-width:287.25pt;' &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:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;535&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;1,209&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;9,079&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:middle;background-color:#5AC4C4;border-color:Black;min-width:287.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;35,784&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &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;/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;Financial assets held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;33,941&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;535&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;2,163&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;21,219&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;13,305&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;12,187&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;11,794&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;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;Financial assets at amortized cost &lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,843&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;772&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,368&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;305&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;1,817&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;478&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;13,861&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;12,202&lt;/font&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:8pt;margin-left:0pt;' &gt;A breakdown of the maturity of other &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;payment obligations, not included in previous notes, due after December 31, 2019 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:15pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:406.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:406.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Maturity of future payment obligations (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:114pt;' &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:58.5pt;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:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Up to 1 year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;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:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 3 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;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:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;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:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Over 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;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:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:114pt;' &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:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &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:15pt;' &gt;&lt;td style='width:114pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:114pt;' &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:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &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:15pt;' &gt;&lt;td style='width:114pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:114pt;' &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:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &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:15pt;' &gt;&lt;td style='width:114pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:114pt;' &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:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &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:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &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:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &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:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &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:58.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfRepurchaseAndReverseRepurchaseAgreementsExplanatory>
  <bbva:Transactionsonbehalfofthirdpartiesexplanatory id="ID_10064" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;36.   Tran&lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;sactions on behalf of 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:8pt;margin-left:0pt;' &gt;As of December 31, 2019, 2018 and 2017 the details of the relevant 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:12.75pt;' &gt;&lt;td colspan='4' 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:8pt;color:#02A5A5;' &gt;Transactions on behalf of third parties. Breakdown by concepts (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:308.25pt;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:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#44546A;' &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:#072146;' &gt;2019&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:#072146;' &gt;2018&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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:308.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:308.25pt;' &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:56.25pt;border-top-style:solid;border-top-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;693,377&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:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-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;624,822&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:308.25pt;' &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: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;13,133&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;13,484&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;14,775&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:308.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:308.25pt;' &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: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;7,129&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;4,866&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;5,485&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:308.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:308.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;713,639&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;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &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:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:56.25pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Transactionsonbehalfofthirdpartiesexplanatory>
  <ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory id="ID_10065" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;37.   Net interest income&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;37.1   Interest &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;other&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt; income&lt;/font&gt;&lt;/p&gt;&lt;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;The breakdown of the interest and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;other&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; income recognized in the accompanying consolidated income&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000080;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &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='4' rowspan='1' style='width:488.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:488.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Interest and other income. Breakdown by origin (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24pt;' &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:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;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:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:276.75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;Financial assets held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,041&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,057&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,306&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;148&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;73&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,815&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,846&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,485&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25,698&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24,572&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24,485&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,079&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,141&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,058&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(74)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(201)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;415&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:276.75pt;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;color:#000000;' &gt;Other income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;343&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;268&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:70.5pt;' &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:11.45pt;' &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:#5AC4C4;border-color:Black;min-width:276.75pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;31,061&lt;/font&gt;&lt;/td&gt;&lt;td style='width:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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:70.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:70.5pt;' &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;/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;The amounts recognized in consolidated equity &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;in connection with hedging derivatives for the years ended December 31, 2019, 2018 and 2017 and the amounts derecognized from the consolidated equity and taken to the consolidated income statements during those years are included in the accompanying &amp;#8220;Conso&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lidated statements of recognized income and expenses&amp;#8221;.&lt;/font&gt;&lt;/p&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;37.2   Interest expense&lt;/font&gt;&lt;/p&gt;&lt;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;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: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:#02A5A5;' &gt;Interest expense. 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:303pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,211&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial liabilities designated at fair value through profit or loss &lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;41&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,805&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,321&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,729&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Adjustments of expense as a result of hedging transactions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(246)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(352)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;665&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;753&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;832&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;732&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;86&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;73&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;79&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:303pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;224&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;245&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:303pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;12,859&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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;/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:6pt;margin-left:0pt;' &gt;(*) Includes &amp;#8364;114 million as of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;December 31, 2019 corresponding to interest expense on leases (see Note 22.5).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory>
  <ifrs-full:DisclosureOfFairValueMeasurementExplanatory id="ID_10066" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:14pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;8.   Fair v&lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;alue 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:8pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Framework and processes control&lt;/font&gt;&lt;/p&gt;&lt;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;As part of the process established in the Group for determining the fair value in order to support&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; assets and liabilities before being contracted. Local management responsible for valuation, which are independent from the business are members of these 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:8pt;margin-left:0pt;' &gt;These areas are required to ensure, prior to the approval stage, the existence of not only&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 valuation global area and using models that have been validated and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; approved by the responsible areas.&lt;/font&gt;&lt;/p&gt;&lt;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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Fair value hierarchy&lt;/font&gt;&lt;/p&gt;&lt;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;The fair value of financial instrument&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; is commonly defined&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 the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;at the mea&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;surement date (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;market-based measureme&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nt)&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;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 m&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;arket. 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.&lt;/font&gt;&lt;/p&gt;&lt;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;When possible, the fair value is determined as the mark&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;et 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 r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ecent 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;such models take into consideration the specific features of the asset or liability to be measured and, in particular, the various t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ypes of risk associated with such&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; asset or liability. However, the limitations inherent in the measurement models and possib&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;le 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 me&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &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:8pt;margin-left:0pt;' &gt;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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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.&lt;/font&gt;&lt;/p&gt;&lt;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;The process for determining the fair value requires the classification of the fin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ancial assets and liabilities according to the measurement processes used as set forth below:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Level 1: Valuation using directly the quotation of the instrument, observable and readily and regularly available from independent price sources and referenced to&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Level 2: Valuation of financial instruments with commonly accepted tec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;hniques that use inputs obtained f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rom observable data in markets.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Level 3: Valuation of financial instruments with valuation techniques that use significant unobservable inputs in the market. As of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;December 31&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, 2019, the affected instruments at fair value &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;accounted for approximately 0.57% of financial assets and 0.14% of the Group&amp;#8217;s financial liabilities. Model selection and validation is undertaken by control areas outside the business areas.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;8.1   Fair value of financial instruments &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:8pt;margin-left:0pt;color:#000000;' &gt;The fair value of the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; Group&amp;#8217;s financial instruments in the accompanying consolidated balance sheets a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;nd&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; its corresponding carrying amounts&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;, as of December 31, 2019, 2018 and 2017&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; are presented below&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;:&lt;/font&gt;&lt;/p&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:474pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:474pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &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:219pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;font-weight:bold;color:#072146;' &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:right;vertical-align:middle;border-color:Black;min-width:102pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2019&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:right;vertical-align:middle;border-color:Black;min-width:102pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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: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:7pt;font-weight:bold;color:#072146;' &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:7pt;font-weight:bold;color:#072146;' &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:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Fair value&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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: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:7pt;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:right;vertical-align:middle;border-color:Black;min-width:51pt;' &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: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:7pt;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:right;vertical-align:middle;border-color:Black;min-width:51pt;' &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: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:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:17.25pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:219pt;' &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: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:7pt;color:#000000;' &gt;9&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:7pt;color:#000000;' &gt;44,303&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:7pt;color:#000000;' &gt;44,303&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:7pt;color:#000000;' &gt;58,196&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: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:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&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:7pt;color:#000000;' &gt;102,688&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:7pt;color:#000000;' &gt;102,688&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:7pt;color:#000000;' &gt;90,117&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: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:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11&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:7pt;color:#000000;' &gt;5,557&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:7pt;color:#000000;' &gt;5,557&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:7pt;color:#000000;' &gt;5,135&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: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:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&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:7pt;color:#000000;' &gt;1,214&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:7pt;color:#000000;' &gt;1,214&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:7pt;color:#000000;' &gt;1,313&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: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:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13&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:7pt;color:#000000;' &gt;61,183&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:7pt;color:#000000;' &gt;61,183&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:7pt;color:#000000;' &gt;56,337&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: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:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14&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:7pt;color:#000000;' &gt;439,162&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:7pt;color:#000000;' &gt;442,788&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:7pt;color:#000000;' &gt;419,660&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: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:219pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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: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:7pt;color:#000000;' &gt;15&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:7pt;color:#000000;' &gt;1,729&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:7pt;color:#000000;' &gt;1,729&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:7pt;color:#000000;' &gt;2,892&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: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:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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: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:7pt;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:right;vertical-align:middle;border-color:Black;min-width:51pt;' &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: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:7pt;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:right;vertical-align:middle;border-color:Black;min-width:51pt;' &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: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:7pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:219pt;' &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: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:7pt;color:#000000;' &gt;10&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:7pt;color:#000000;' &gt;89,633&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:7pt;color:#000000;' &gt;89,633&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:7pt;color:#000000;' &gt;80,774&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: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:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&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:7pt;color:#000000;' &gt;10,010&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:7pt;color:#000000;' &gt;10,010&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:7pt;color:#000000;' &gt;6,993&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: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:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;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:7pt;color:#000000;' &gt;516,641&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:7pt;color:#000000;' &gt;515,910&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:7pt;color:#000000;' &gt;509,185&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: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:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15&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:7pt;color:#000000;' &gt;2,233&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:7pt;color:#000000;' &gt;2,233&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:7pt;color:#000000;' &gt;2,680&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: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:474pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:474pt;' &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:219pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;font-weight:bold;color:#004481;' &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:7pt;font-weight:bold;color:#004481;' &gt;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: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:219pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:center;vertical-align:middle;border-color:Black;min-width:51pt;' &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: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:7pt;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:right;vertical-align:middle;border-color:Black;min-width:51pt;' &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: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:7pt;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:right;vertical-align:middle;border-color:Black;min-width:51pt;' &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:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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: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:7pt;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:7pt;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:7pt;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:7pt;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: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:219pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:219pt;' &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: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:7pt;color:#000000;' &gt;9&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:7pt;color:#000000;' &gt;42,680&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:7pt;color:#000000;' &gt;42,680&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:7pt;color:#000000;' &gt;40,039&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: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:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;10&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:7pt;color:#000000;' &gt;64,695&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:7pt;color:#000000;' &gt;64,695&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:7pt;color:#000000;' &gt;74,950&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: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:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&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:7pt;color:#000000;' &gt;2,709&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:7pt;color:#000000;' &gt;2,709&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:7pt;color:#000000;' &gt;2,062&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: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:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;69,476&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:7pt;color:#000000;' &gt;69,476&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:7pt;color:#000000;' &gt;79,221&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: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:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;431,521&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:7pt;color:#000000;' &gt;438,991&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:7pt;color:#000000;' &gt;465,977&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: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:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;13,754&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:7pt;color:#000000;' &gt;13,865&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:7pt;color:#000000;' &gt;17,696&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: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:219pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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: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:7pt;color:#000000;' &gt;15&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:7pt;color:#000000;' &gt;2,485&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:7pt;color:#000000;' &gt;2,485&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:7pt;color:#000000;' &gt;2,833&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: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:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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: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:7pt;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:7pt;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:7pt;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:7pt;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: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:219pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:219pt;' &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: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:7pt;color:#000000;' &gt;10&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:7pt;color:#000000;' &gt;46,182&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:7pt;color:#000000;' &gt;46,182&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:7pt;color:#000000;' &gt;54,675&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: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:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12&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:7pt;color:#000000;' &gt;2,222&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:7pt;color:#000000;' &gt;2,222&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:7pt;color:#000000;' &gt;2,338&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: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:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;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:7pt;color:#000000;' &gt;543,713&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:7pt;color:#000000;' &gt;544,604&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:7pt;color:#000000;' &gt;589,210&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: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:219pt;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &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:51pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15&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:7pt;color:#000000;' &gt;2,880&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:7pt;color:#000000;' &gt;2,880&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:7pt;color:#000000;' &gt;2,347&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: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:12pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;color:#000000;' &gt;Not all financial &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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 n&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ot used when accounting for these instruments).&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;8.1.1   Fair value of financial instruments recognized at fair value, according to valuation criteria&lt;/font&gt;&lt;/p&gt;&lt;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;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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:8pt;margin-left:0pt;color:#000000;' &gt;B&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BVA considers active market as &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;sufficient frequency and volume&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &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:8pt;margin-left:0pt;color:#000000;' &gt;By default, BBVA would consid&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;er all internally approved &amp;#8220;Organized Markets&amp;#8221; as active 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:8pt;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 O&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ver &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;T&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;he &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;C&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ounter&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; (OTC)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;markets wh&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;en they are obtained from independent sources, observable on a daily basis 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:8pt;margin-left:0pt;' &gt;The following table shows the financial instruments carried at fair value in the accompanying consolidated balance sheets, broken down by level used t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;o 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='7' rowspan='1' style='width:432pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:432pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#02A5A5;' &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:229.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#094FA4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:101.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:101.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:101.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:101.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:229.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:229.5pt;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:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;ASSETS-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &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:8.25pt;' &gt;&lt;td style='width:229.5pt;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:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Financial assets held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;31,135&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;70,045&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;1,508&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;26,730&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;62,983&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;404&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:229.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:229.5pt;' &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:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;697&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;32,321&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &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:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &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:229.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;18,076&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,178&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:229.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8,832&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:229.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;3,530&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;29,546&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:24.75pt;' &gt;&lt;td style='width:229.5pt;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:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Non-trading financial assets mandatorily at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;4,305&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;92&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;1,160&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;3,127&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;1,929&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:229.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:229.5pt;' &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:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;82&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,038&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &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:229.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;91&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:229.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,223&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;103&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:16.5pt;' &gt;&lt;td style='width:229.5pt;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:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Financial assets designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;1,214&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;1,313&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &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:8.25pt;' &gt;&lt;td style='width:229.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,214&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:16.5pt;' &gt;&lt;td style='width:229.5pt;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:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;50,896&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;9,203&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;1,084&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;45,824&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;9,323&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;1,190&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:229.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:229.5pt;' &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:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &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:8.25pt;' &gt;&lt;td style='width:229.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;49,070&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9,057&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;604&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:229.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,794&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;146&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;480&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:229.5pt;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:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;44&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;1,685&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;2,882&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:229.5pt;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:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;LIABILITIES-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &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:8.25pt;' &gt;&lt;td style='width:229.5pt;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:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Financial liabilities held for trading &lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;26,266&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;62,541&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;827&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;22,932&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;57,573&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;269&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:229.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;9,595&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;32,121&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;649&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &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:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &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:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &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:8.25pt;' &gt;&lt;td style='width:229.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,425&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;30,419&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;175&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:229.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;12,246&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:16.5pt;' &gt;&lt;td style='width:229.5pt;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:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Financial liabilities designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;9,984&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &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:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;4,478&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;2,515&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:229.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:229.5pt;' &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:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;944&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;976&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:33.75pt;' &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:8.25pt;' &gt;&lt;td style='width:229.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,629&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:33.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:8.25pt;' &gt;&lt;td style='width:229.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:229.5pt;' &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:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4,410&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;643&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:33.75pt;' &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:229.5pt;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:229.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Derivatives &amp;#8211; Hedge accounting&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;2,192&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;223&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;2,454&lt;/font&gt;&lt;/td&gt;&lt;td style='width:33.75pt;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:33.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &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='4' rowspan='1' style='width:441pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:441pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#02A5A5;' &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:308.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#094FA4;' &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:6pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.75pt;' &gt;&lt;td style='width:308.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:308.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 1&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:center;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 2&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:center;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;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:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;ASSETS-&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:6pt;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:6pt;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:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;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:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004581;' &gt;Financial assets held for trading&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:6pt;font-weight:bold;color:#004581;' &gt;29,057&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:6pt;font-weight:bold;color:#004581;' &gt;35,349&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:6pt;font-weight:bold;color:#004581;' &gt;289&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:308.25pt;' &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: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:6pt;color:#000000;' &gt;-&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:6pt;color:#000000;' &gt;56&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:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:308.25pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:8.25pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:308.25pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;80&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:6pt;color:#000000;' &gt;1,262&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:6pt;color:#000000;' &gt;33,815&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:6pt;color:#000000;' &gt;187&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;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:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004581;' &gt;Financial assets designated at fair value through profit or loss&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:6pt;font-weight:bold;color:#004581;' &gt;2,061&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:6pt;font-weight:bold;color:#004581;' &gt;648&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:6pt;font-weight:bold;color:#004581;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:308.25pt;' &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: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:6pt;color:#000000;' &gt;-&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:6pt;color:#000000;' &gt;648&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:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:308.25pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;174&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:308.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:308.25pt;' &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:44.25pt;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:6pt;color:#000000;' &gt;1,888&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;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:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004581;' &gt;Available-for-sale financial assets &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:6pt;font-weight:bold;color:#004581;' &gt;57,381&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:6pt;font-weight:bold;color:#004581;' &gt;11,082&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:6pt;font-weight:bold;color:#004581;' &gt;544&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:308.25pt;' &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: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:6pt;color:#000000;' &gt;54,850&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:6pt;color:#000000;' &gt;10,948&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:6pt;color:#000000;' &gt;454&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:308.25pt;' &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:44.25pt;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:6pt;color:#000000;' &gt;2,531&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:6pt;color:#000000;' &gt;134&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:6pt;color:#000000;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;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:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004581;' &gt;Hedging derivatives&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:6pt;font-weight:bold;color:#004581;' &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:6pt;font-weight:bold;color:#004581;' &gt;2,483&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:6pt;font-weight:bold;color:#004581;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;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:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;LIABILITIES-&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:6pt;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:6pt;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:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;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:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004581;' &gt;Financial liabilities held for trading &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:6pt;font-weight:bold;color:#004581;' &gt;11,191&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:6pt;font-weight:bold;color:#004581;' &gt;34,866&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:6pt;font-weight:bold;color:#004581;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#666666;' &gt;Derivatives&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:6pt;color:#000000;' &gt;1,183&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:6pt;color:#000000;' &gt;34,866&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:6pt;color:#000000;' &gt;119&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:308.25pt;' &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:44.25pt;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:6pt;color:#000000;' &gt;10,008&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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: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:308.25pt;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:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004581;' &gt;Financial liabilities designated at fair value through profit or loss&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:6pt;font-weight:bold;color:#004581;' &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:6pt;font-weight:bold;color:#004581;' &gt;2,222&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:6pt;font-weight:bold;color:#004581;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:308.25pt;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:308.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004581;' &gt;Derivatives &amp;#8211; Hedge accounting&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:6pt;font-weight:bold;color:#004581;' &gt;274&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:6pt;font-weight:bold;color:#004581;' &gt;2,606&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:6pt;font-weight:bold;color:#004581;' &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:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;instruments classified under &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Levels 2 and 3, based on the type of financial asset and liability and the corresponding balances as of December 31, 2019&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and 2018&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:8.25pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:800.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:800.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#02A5A5;' &gt;Fair value of financial Instruments by levels. December 2019 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Level 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Valuation technique(s)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Observable inputs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Unobservable inputs&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Financial assets held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;70,045&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;1,508&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Funding interest rates observed in the market or in consensus services&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Funding interest rates not observed in the market or in consensus services&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33.75pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;32,321&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1,285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Debt securities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;8,178&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Observed prices in non active markets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Non active markets prices&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity instruments &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Comparable pricing (Observable price in a similar market)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Brokers quotes&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Market operations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- NAVs published&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- NAV not published&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;29,546&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:5pt;color:#000000;' &gt;Caps/Floors: Black, Hull-White y  SABR&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Bond options: Black&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Swaptions: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Other Interest rate Options: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Constant Maturity Swaps: SABR&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='5' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Beta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit correlations between tenors&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity Options: Local Volatility, Momentum adjustment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit assets correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Long term implicit correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Foreign exchange Options: Local volatility, moments adjustment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit assets correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Credit Derivatives: Default model and Gaussian copula&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Correlation default&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Credit spread&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Interest rate yield&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Commodities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Commodities: Momentum adjustment and discounted cash flows&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#DADADA;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Non-trading financial assets mandatorily at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;92&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;1,160&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:40.5pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1,038&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Specific liquidation criteria regarding losses of the EPA proceedings&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;PD and LGD of the internal models, valuations and specific criteria of the EPA proceedings &lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Discounted future cash flows&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Business plan of the underlying asset, WACC, macro scenario&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Property valuation&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:36pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;91&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;103&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Comparable pricing (Observable price in a similar market)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Brokers quotes&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Market operations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- NAVs published&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;9,203&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;1,084&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:24.75pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;9,057&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;604&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Observed prices in non active markets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Non active market prices&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;146&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;480&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Comparable pricing (Observable price in a similar market)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Brokers quotes&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Market operations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- NAVs published&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;1,685&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:49.5pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:5pt;color:#000000;' &gt;Caps/Floors: Black, Hull-White y  SABR&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Bond options: Black&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Swaptions: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Other Interest rate Options: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Constant maturity Swaps: SABR&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='5' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#D9D9D9;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity Options: Local volatility, Momentum adjustment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#D9D9D9;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Foreign exchange Options: Local volatility, moments adjustment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#D9D9D9;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Credit Derivatives: Default model and Gaussian copula&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#D9D9D9;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Commodities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Commodities: Momentum adjustment and Discounted cash flows&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#D9D9D9;' &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:800.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:800.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#02A5A5;' &gt;Fair Value of financial Instruments by Levels. December 2019 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Level 2&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Valuation technique(s)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Observable inputs&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Financial liabilities held for trading &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;62,541&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;827&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:42.75pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;32,121&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;649&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Interest rate yield&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Funding interest rates observed in the market or in consensus services&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Funding interest rates not observed in the market or in consensus services&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;30,419&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;175&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;background-color:#DADADA;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:49.5pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:5pt;color:#000000;' &gt;Caps/Floors: Black, Hull-White y  SABR&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Bond options: Black&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Swaptions: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Other Interest rate Options: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Constant Maturity Swaps: SABR&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='5' style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Beta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Correlation between tenors&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity Options: Local volatility, momentum adjustment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Foreign exchange Options: Local volatility, moments adjustment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Credit Derivatives: Default model and Gaussian copula&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Correlation default&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Credit spread&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Interest rate yield&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Commodities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Commodities: Momentum adjustment and discounted cash flows&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;background-color:#DADADA;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Short positions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#DADADA;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Financial liabilities designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;9,984&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Derivatives &amp;#8211; Hedge accounting&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;2,192&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:49.5pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:5pt;color:#000000;' &gt;Caps/Floors: Black, Hull-White y  SABR&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Bond options: Black&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Swaptions: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Other Interest rate Options: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Constant Maturity Swaps: SABR&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='5' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Beta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit correlations between tenors&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity Options: Local volatility, momentum adjustment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit assets correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Long term implicit correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Foreign exchange Options: Local Volatility, moments adjustment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit assets correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Credit Derivatives: Default model and Gaussian copula&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Correlation default&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Credit spread&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Interest rate yield&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Commodities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Commodities: Momentum adjustment and discounted cash flows&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#DADADA;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:9.75pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:800.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:800.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#02A5A5;' &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:9.75pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Level 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Valuation technique(s)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Observable inputs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Unobservable inputs&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Financial assets held for trading&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;62,983&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;404&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Funding interest rates observed in the market or in consensus services&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;28,642&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Debt securities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;7,494&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;199&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Observed prices in non active markets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Non active markets prices&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity instruments &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Comparable pricing (Observable price in a similar market)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Brokers quotes&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Market operations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- NAVs published&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- NAV provided by the administrator of the funds&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;26,846&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;85&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:66pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:5pt;color:#000000;' &gt;Caps/Floors: Black, Hull-White y  SABR&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Bond options: Black&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Swaptions: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Other Interest rate Options: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Constant Maturity Swaps: SABR&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='5' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Beta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit correlations between tenors&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity Options: Local Volatility, Momentum adjustment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit assets correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Long term implicit correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit dividends and long term repos&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Foreign exchange Options: Local volatility, moments adjustment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit assets correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Credit Derivatives: Default model and Gaussian copula&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Correlation default&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Credit spread&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Interest rate yield&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Default volatility&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Commodities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Commodities: Momentum adjustment and discounted cash flows&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#DADADA;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Non-trading financial assets mandatorily at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;78&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;1,929&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1,778&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- PD and LGD&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;76&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;75&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Financial assets at fair value through other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;9,323&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;1,190&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:24.75pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;9,211&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;711&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Observed prices in non active markets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Non active market prices&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;479&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Comparable pricing (Observable price in a similar market)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Brokers quotes&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Market operations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- NAVs published&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- NAV provided by the administrator of the fund&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Hedging derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;2,882&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:66pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:5pt;color:#000000;' &gt;Caps/Floors: Black, Hull-White y  SABR&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Bond options: Black&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Swaptions: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Other Interest rate Options: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Constant maturity Swaps: SABR&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='5' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#D9D9D9;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity Options: Local volatility, Momentum adjustment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#D9D9D9;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Foreign exchange Options: Local volatility, moments adjustment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#D9D9D9;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Credit Derivatives: Default model and Gaussian copula&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#D9D9D9;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Commodities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Commodities: Momentum adjustment and Discounted cash flows&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#D9D9D9;' &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='6' rowspan='1' style='width:800.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:800.25pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#02A5A5;' &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:12pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Level 2&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Valuation technique(s)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Observable inputs&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Unobservable inputs&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Financial liabilities held for trading &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;57,573&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:12.75pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;29,945&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;27,628&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;267&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;background-color:#DADADA;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:66pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:5pt;color:#000000;' &gt;Caps/Floors: Black, Hull-White y  SABR&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Bond options: Black&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Swaptions: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Other Interest rate Options: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Constant Maturity Swaps: SABR&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='5' style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Beta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Correlation between tenors&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity Options: Local volatility, momentum adjustment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Assets correlation&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Foreign exchange Options: Local volatility, moments adjustment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Credit Derivatives: Default model and Gaussian copula&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Correlation default&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Credit spread&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Interest rate yield&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Default volatility&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Commodities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Commodities: Momentum adjustment and discounted cash flows&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;background-color:#DADADA;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:192.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Short positions &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;background-color:#D9D9D9;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Correlation default&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Credit spread&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Financial liabilities designated at fair value through profit or loss&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;4,478&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;2,515&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Present-value method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;(Discounted future cash flows)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Prepayment rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Issuer&amp;#180;s credit risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Current market interest rates&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:192.75pt;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:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;Derivatives &amp;#8211; Hedge accounting&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;2,454&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#004481;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:121.5pt;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:121.5pt;' &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:74.25pt;' &gt;&lt;td style='width:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:5pt;color:#000000;' &gt;Caps/Floors: Black, Hull-White y  SABR&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Bond options: Black&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Swaptions: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Other Interest rate Options: Black, Hull-White y LGM&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Constant Maturity Swaps: SABR&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='5' style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Exchange rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market quoted future prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market interest rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Underlying assets prices: shares, funds, commodities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market observable volatilities  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Issuer credit spread levels&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Quoted dividends&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;-  Market listed correlations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Beta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit correlations between tenors&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Equity Options: Local volatility, momentum adjustment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit assets correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Long term implicit correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit dividends and long term repos&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:33pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Foreign exchange and gold&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Future and Equity Forward: Discounted future cash flows&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Foreign exchange Options: Local Volatility, moments adjustment&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Volatility of volatility&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Implicit assets correlations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;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:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Credit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Credit Derivatives: Default model and Gaussian copula&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Correlation default&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Credit spread&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Recovery rates&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Interest rate yield&lt;/font&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;- Default volatility&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;Commodities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;color:#000000;' &gt;Commodities: Momentum adjustment and discounted cash flows&lt;/font&gt;&lt;/td&gt;&lt;td style='width:121.5pt;text-align:left;vertical-align:middle;background-color:#DADADA;border-color:Black;min-width:121.5pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:10pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Main &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt;valuation&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt; techniques&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:8pt;margin-left:0pt;' &gt;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:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The net present value (net present value method): This technique use&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s the future cash flows of each financial instrument, 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 belo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;w:&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;/div&gt;&lt;p style='display:flex;margin-left:35.45pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:56.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;of the debt security is part of the discount rate used to calculate the present value of the future cash flows.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:35.45pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:56.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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;/span&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:8pt;margin-left:0pt;color:#000000;' &gt;Comparable pr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ices (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 f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;or 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.&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:8pt;margin-left:0pt;color:#000000;' &gt;Net asset value: Thi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;s input represents the total value of the financial assets and liabilities of a fund and is published by the fund manager thereof.&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:8pt;margin-left:0pt;color:#000000;' &gt;Gaussian copula: This model is used to integrate default probabilities of credit instruments referenced to more than one unde&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;rlying 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 i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ssuers.&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:8pt;margin-left:0pt;color:#000000;' &gt;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.&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:8pt;margin-left:0pt;color:#000000;' &gt;Black Scholes: The Black Scholes model postu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;lates 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 B&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;lack- Scholes formula, the implied volatility for process of the price can be calculated.&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:8pt;margin-left:0pt;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 reve&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;rts 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; short term today.&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:8pt;margin-left:0pt;color:#000000;' &gt;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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; 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 &amp;#8220;Credit default volatility&amp;#8221; is a volatility input of the credit factor dynamic. The multifa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ctorial frame of this model makes it ideal for the valuation of instruments sensitive to the slope or curve, including interest rate option.&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:8pt;margin-left:0pt;color:#000000;' &gt;Local Volatility: In the local volatility models of the volatility, instead of being static, evolves over time &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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.&lt;/font&gt;&lt;/p&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:8pt;margin-left:0pt;color:#004580;' &gt;Adjustments to the valuation for risk of default&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:8pt;margin-left:0pt;' &gt;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 observable data of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; probabilities of default &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and recoveries &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;margin-left:0pt;' &gt;These adjustments are calculated by estimating Exposure At Default, Probability of Default and Loss Given Default, which are based on the recovery levels for all derivative products on any i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nstrument, deposits and repos 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:8pt;margin-left:0pt;' &gt;The credit valuation adjustments (&amp;#8220;CVA&amp;#8221;) and debit valuation adjustments (&amp;#8220;DVA&amp;#8221;) are a part of derivative instrument valuatio&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ns, 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:8pt;margin-left:0pt;' &gt;As a general rule, the calculation of CVA is done through simulations of market and credit variables to calcul&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ate 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 an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d 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;/p&gt;&lt;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;The information needed to calculate the exposure at default and the loss given default come from the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;of default and loss given default, calibrated directly to market or with an adjustment market factor for the probability of default an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d the historical 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:8pt;margin-left:0pt;' &gt;The amounts recognized in the consolidated balance sheet as of December 31, 2019 and 2018 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;' &gt;-&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;106 and &amp;#8364;-163 million respectively, and the valuation adjustments to the derivative liabilities as &amp;#8220;Debit Valuation Adjust&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ment&amp;#8221; (DVA) was &amp;#8364;117 million and &amp;#8364;214 million respectively . The impact recorded under &amp;#8220;Gains or (-) losses on financial assets and liabilities held for trading, net&amp;#8221; in the consolidated income statement as of December, 2019 and 2018  corresponding to the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;mentioned adjustments was a net impact of &amp;#8364;67 million&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and &amp;#8364;-24 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:8pt;margin-left:0pt;' &gt;Additionally, as of December, 2019 and 2018, &amp;#8364;-8 and &amp;#8364;-12 million related to the &amp;#8220;Funding Valuation Adjustments&amp;#8221; (&amp;#8220;FVA&amp;#8221;) were recognized in the consolidated balance sheet,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; being the impact on results &amp;#8364;4 million and &amp;#8364;-2 million, 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:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:8pt;margin-left:0pt;' &gt;Quantitative information of unobservable inputs used to calculate Level 3 valuations is presented below as of December 31, 2019&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and 2018&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:27pt;' &gt;&lt;td style='width:145.5pt;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:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Financial instrument&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Valuation technique(s)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Significant unobservable inputs&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Min&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Average&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Max&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Units&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:145.5pt;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:145.5pt;' &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:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Present value method&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Repo funding curve&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &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:12pt;' &gt;&lt;td colspan='1' rowspan='3' style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &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:73.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;504&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28.38%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:18.75pt;' &gt;&lt;td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;0.01%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;98.31%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;135.94%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:14.25pt;' &gt;&lt;td colspan='1' rowspan='2' style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &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:73.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:73.5pt;' &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:294pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:294pt;' &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:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:73.5pt;' &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:15pt;' &gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:top;border-color:Black;min-width:145.5pt;' &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:73.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19.37%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;44.33%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;61.08%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:15.75pt;' &gt;&lt;td colspan='1' rowspan='3' style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &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:73.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Heston&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35.12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35.12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;35.12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:294pt;text-align:right;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:294pt;' &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:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Volatility&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.49&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23.21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;60.90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:145.5pt;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:145.5pt;' &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:73.5pt;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:73.5pt;' &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:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Volatility&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3.70&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10.05&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;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:73.5pt;' &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:145.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Interest rate options&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='3' style='width:73.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Beta&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2.00&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:15.75pt;' &gt;&lt;td style='width:73.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(100)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;100&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:15pt;' &gt;&lt;td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:73.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:73.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:73.5pt;' &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:3pt;margin-bottom:3pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:35.45pt;' &gt;(*)   Other &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;valuation techniques such as specific liquidation criteria regarding losses of the EPA proceedings, PD and LGD of the internal models, valuations and specific criteria of the EPA proceedings or Discounted future cash flows are used for specific financial i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;nstruments.&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:6pt;margin-left:35.45pt;' &gt;(**)  Due to the diversity of valuation models of equity instruments, we don&amp;#8217;t include all the unobservable inputs or t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;he quantitative ranges of them.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:3pt;margin-bottom:6pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:35.45pt;' &gt;(***) The range of non-observable dividends has too wide range to be relevant.&lt;/font&gt;&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:8pt;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:8pt;margin-left:0pt;' &gt;The changes in the balance of Level 3 financial assets and liabilities included 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:12pt;' &gt;&lt;td colspan='7' rowspan='1' style='width:473.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:473.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Financial assets Level 3: Changes in the year (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:203.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:203.25pt;' &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: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:8pt;font-weight:bold;color:#072146;' &gt;2019&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:8pt;font-weight:bold;color:#072146;' &gt;2018&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:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:203.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:203.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;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:center;vertical-align:middle;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Assets&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:8pt;font-weight:bold;color:#072146;' &gt;Liabilities&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:8pt;font-weight:bold;color:#072146;' &gt;Assets&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:8pt;font-weight:bold;color:#072146;' &gt;Liabilities&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:8pt;font-weight:bold;color:#072146;' &gt;Assets&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:8pt;font-weight:bold;color:#072146;' &gt;Liabilities&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:203.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:203.25pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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;tr style='height:21pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &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: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;112&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;(167)&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;(95)&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;(24)&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;(21)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &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: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;2&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;-&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;(45)&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;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &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: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;5&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;595&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;2,102&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;2,710&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;32&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;320&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:203.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &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: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;77&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;(2,751)&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;761&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;47&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;106&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;(39)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:203.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:203.25pt;' &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: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;31&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;189&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;(55)&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;(250)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:203.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:203.25pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,753&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:#5AC4C4;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;865&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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &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: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:#5AC4C4;border-color:Black;min-width:45pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;125&lt;/font&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:6pt;margin-left:0pt;' &gt;(*)    &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Profit or loss that is attributable to gains or losses relating to those financial ass&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;ets and liabilities held as of December 31,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;2019, 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; and 2017&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;. Valuation adjustments are recorded under the heading &amp;#8220;Gains (losses) on financial assets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;and liabilities (net)&amp;#8221;.&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:6pt;margin-left:0pt;' &gt;(**)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Of which, in 2019, the assets roll forward is comprised of &amp;#8364;1,525 million of acquisitions, &amp;#8364;1,102 million of disposals and &amp;#8364;417 million of liquidations. The liabilities roll forward is comprised of &amp;#8364;858&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt; million of acquisitions, &amp;#8364;53 million of sales and &amp;#8364;210 million 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:8pt;margin-left:0pt;' &gt;During 2019, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;certain &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;interest rate yields&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; have been adapted to those observable in the market, which mainly affects the valuation of certain deposit classes recorded under &amp;#8220;Financial liabilities at amortized cost&amp;#8221; and certain insurance products recorded under &amp;#8220;Financial liabilities designated at fair value through profit or loss - Other financial liabilities&amp;#8221;, and, a result thereof, their classification as instruments &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;has chang&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; from Level 3 to Level 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;Additionally, in Level 3, &amp;#8364;1,285 million in assets held for trading and &amp;#8364;649 in liabilities held for trading have been classified, mainly due to certain reverse repurchase and repurchase agreements, due to the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;non-observability&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;and liquidity in the interest rate yield for the financing of assets applied in the calculation of its fair value&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:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;As of December 31, 2019, 2018 and 2017, the profit/loss on sales of financial instruments classified as Level 3 recognized in the accompanyin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;g consolidated income statement was not material.&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:8pt;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:8pt;margin-left:0pt;' &gt;The Global Valuation Area, in collaboration with the Group, has established the rules for a proper financial instruments held for trading classification according to the fair value &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;hierarchy defined by IFRS.&lt;/font&gt;&lt;/p&gt;&lt;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;On a monthly basis, any new assets added to the portfolio are classified, according to this criteri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;on, by the subsidiaries&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;. Then, there is a quarterly review of the portfolio in order to analyze the need for a change in classific&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ation 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:8pt;margin-left:0pt;' &gt;The financial instruments transferred between the different levels of measurement &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;for th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e year ended December 31, 2019&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, are at the following amounts in the accompanying consolidated ba&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lance sheets as of December 31&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, 2&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;019&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and 2018&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:12pt;' &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:6pt;color:#02A5A5;' &gt;Transfer between Levels. December 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;From:&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:94.5pt;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:94.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 1&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:94.5pt;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:94.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 2&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:94.5pt;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:94.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:156pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;To:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 1 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;Level2&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:12.75pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:156pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;74&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1,119&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;502&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;160&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;44&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:16.5pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;209&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;454&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:156pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:156pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;79&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;1,145&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;739&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;667&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:156pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;125&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &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:16.5pt;' &gt;&lt;td style='width:156pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:47.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2,679&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:156pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &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:47.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:47.25pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;2,804&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:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The amount of financial instruments that were transferred between levels of valuation during the year ended December 31, 2019, is not material&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Transfers between Levels 1 and 2 represent mainly debt securities and eq&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;uity 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).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Transfers from Level 2 to Level 3 are mainly due to transactions of financial assets held f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;or trading, derivatives and financial liabilities designated at fair value through profit or loss.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Transfers from Level 3 to Level 2 generally affect derivative and debt securities transactions, for which inputs observable in the market have been obtained.&lt;/font&gt;&lt;/span&gt;&lt;/p&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:8pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Sensitivity a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt;nalysis&lt;/font&gt;&lt;/p&gt;&lt;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;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 ca&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rried 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 su&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;fficient degree 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:8pt;margin-left:0pt;' &gt;As of December 31, 2019&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, the effect on profit for the year and total equity of changing the main unobservable &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:&lt;/font&gt;&lt;/p&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:#02A5A5;' &gt;Financial instruments Level 3 2019: 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:161.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:161.25pt;' &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:157.5pt;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:157.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Potential impact on consolidated&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt; income statement &lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:157.5pt;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:157.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Potential impact on&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:161.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Most favorable hypothesis&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Least favorable hypothesis&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Most favorable hypothesis&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Least favorable hypothesis&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &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:78.75pt;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:78.75pt;' &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:78.75pt;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:78.75pt;' &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:78.75pt;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:78.75pt;' &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:78.75pt;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:78.75pt;' &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:161.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(60)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(48)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Derivatives&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;367&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(66)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;354&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(61)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &gt;&lt;td style='width:161.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:161.25pt;' &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:78.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;372&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(126)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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;tr style='height:13.5pt;' &gt;&lt;td style='width:161.25pt;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:161.25pt;' &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:78.75pt;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:78.75pt;' &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:78.75pt;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:78.75pt;' &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:78.75pt;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:78.75pt;' &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:78.75pt;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:78.75pt;' &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:161.25pt;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:161.25pt;' &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:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;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:78.75pt;' &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:161.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:161.25pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;8.2   Fair value of financial instruments carried at cost, by valuation criteria&lt;/font&gt;&lt;/p&gt;&lt;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;The valuation technique used to calculate the fair value of financial assets and liabilities carried at cost as of December 31, 2019 are &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;presented below:&lt;/font&gt;&lt;/p&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:8pt;margin-left:0pt;color:#004580;' &gt;Financial assets&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he 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.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Loans to credit institutions which are not short-term and loans to customers: In general, the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 relev&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ant (prepayment fees, optionality, etc.).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Debt securities: Fair value estimated based on the available market price or by using internal valuation methodologies.&lt;/font&gt;&lt;/span&gt;&lt;/p&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:8pt;margin-left:0pt;color:#004580;' &gt;Financial liabilities&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Deposits from central banks: for recurrent liquidity auctions and other &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;monetary policy instruments of central banks / short-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;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Deposits of credit institutio&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ns 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 assu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;mptions if this proves relevant (early repayments , optionalities, etc.).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; flows, using market interest rates at valuation time and taking into account the credit spread.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;The following table presents the fair value of key financial instruments carried at amortized cost in the accompanying consolidated balance sheets as of Decemb&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;er 31, 2019 and 2018, broken down according to the method of valuation used for the estimation:&lt;/font&gt;&lt;/p&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:346.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:346.5pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#02A5A5;' &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:135pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:135pt;' &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:105.75pt;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:105.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td colspan='3' rowspan='1' style='width:105.75pt;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:105.75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:135pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:135pt;' &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;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:#072146;' &gt;Level 1&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:#072146;' &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: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:#072146;' &gt;Level 3&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:#072146;' &gt;Level 1&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:#072146;' &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: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:#072146;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &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:#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:6pt;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:6pt;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:6pt;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:6pt;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:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &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: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;44,111&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;192&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;58,024&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;172&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:135pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &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: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;29,391&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;217,279&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;196,119&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;21,419&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;204,619&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;193,819&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &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:#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:6pt;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:6pt;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:6pt;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:6pt;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:6pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:8.25pt;' &gt;&lt;td style='width:135pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:135pt;' &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: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;67,229&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;289,599&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;159,082&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;58,225&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;269,128&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;182,948&lt;/font&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:8pt;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 i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n 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, 2019&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and 2018&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:13.5pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:692.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:692.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Fair Value of financial Instruments at amortized cost by valuation technique. December 2019 (Millions of Euros)&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;text-align:left;vertical-align:bottom;border-color:Black;min-width:140.25pt;' &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:138pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Level 2&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:138pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Level 3&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:138pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Valuation technique(s)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:138pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Main inputs used&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:140.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;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;/tr&gt;&lt;tr style='height:12pt;' &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:#072146;' &gt;ASSETS &lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &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:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &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:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &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:22.5pt;' &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;border-color:Black;min-width:140.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Financial assets at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;217,279&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;196,119&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='5' style='width:138pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:138pt;' &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:138pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:138pt;' &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:33.75pt;' &gt;&lt;td style='width:140.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:140.25pt;' &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:138pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:left;vertical-align:middle;border-color:Black;min-width:138pt;' &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:33.75pt;' &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;Loans and advances to credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,049&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,628&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:left;vertical-align:middle;border-color:Black;min-width:138pt;' &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:33.75pt;' &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;Loans and advances to customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;194,897&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;190,144&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:left;vertical-align:middle;border-color:Black;min-width:138pt;' &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:22.5pt;' &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;Debt securities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,333&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,345&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:138pt;' &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:12pt;' &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:#072146;' &gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &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:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &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:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:138pt;' &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:22.5pt;' &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;border-color:Black;min-width:140.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Financial liabilities at amortized cost &lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;289,599&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;159,082&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:138pt;' &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:140.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:140.25pt;' &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:138pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:#000000;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='5' style='width:138pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:#000000;min-width:138pt;' &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 colspan='1' rowspan='5' style='width:138pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:#000000;min-width:138pt;' &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: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;Deposits from credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21,575&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,831&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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;Deposits from customers&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;245,720&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;135,514&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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;Debt certificates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14,194&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &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: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;Other financial liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7,981&lt;/font&gt;&lt;/td&gt;&lt;td style='width:138pt;text-align:right;vertical-align:middle;border-color:Black;min-width:138pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,604&lt;/font&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:8pt;margin-left:0pt;color:#004580;' &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:8pt;margin-left:0pt;' &gt;Until 2017, there were equity instruments and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;discretionary profit-sharing arrangements in some entities which were recognized at cost in the Group&amp;#8217;s consolidated balance sheets because their fair value could not be estimated in a sufficiently reliable manner for the amount of &amp;#8364;469 million, as of Dece&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;mber 31, 2017.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFairValueMeasurementExplanatory>
  <ifrs-full:DisclosureOfDividendsExplanatory id="ID_10067" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;38.   Dividend income&lt;/font&gt;&lt;/p&gt;&lt;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;The balances for this heading in the accompanying consolidated income statements correspond to dividends on shares and equity instruments other than those &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;from shares in entities accounted for using the equity method (see Note 39), 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='5' rowspan='1' style='width:402pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:402pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Dividend income (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &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: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:8pt;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:8pt;font-weight:bold;color:#072146;' &gt;2019&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:8pt;font-weight:bold;color:#072146;' &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:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&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:bottom;border-color:Black;min-width:282pt;' &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: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:8pt;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:8pt;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:8pt;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:8pt;color:#000000;' &gt;&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: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:30pt;text-align:right;vertical-align:middle;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:8pt;color:#000000;' &gt;26&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:8pt;color:#000000;' &gt;19&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:8pt;color:#000000;' &gt;145&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.25pt;' &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;Financial assets at fair value through other comprehensive income&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:8pt;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:8pt;color:#000000;' &gt;136&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:8pt;color:#000000;' &gt;138&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:8pt;color:#000000;' &gt;188&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:#5AC4C4;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: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:#5AC4C4;border-color:Black;min-width:30pt;' &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: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:#5AC4C4;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;162&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:#5AC4C4;border-color:Black;min-width:30pt;' &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: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:#5AC4C4;border-color:Black;min-width:30pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;334&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDividendsExplanatory>
  <ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory id="ID_10068" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;39.   Share of profit or loss of entities accounted for using the equity method&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:8pt;margin-left:0pt;' &gt;Results from &amp;#8220;Share of profit &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;or loss of entities accounted for using the equity method&amp;#8221; resulted in a negative impact of &amp;#8364;42 million as of December 31, 2019, compared with the negative impact of &amp;#8364;7 and the positive impact of &amp;#8364;4 million recorded as of December 31, 2018 and 2017, respec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tively.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory>
  <ifrs-full:DisclosureOfFeeAndCommissionIncomeExpenseExplanatory id="ID_10069" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;40.   Fee and commission income&lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt; and expense&lt;/font&gt;&lt;/p&gt;&lt;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;The breakdown of the balance under these headings 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='5' rowspan='1' style='width:424.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:424.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:250.5pt;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:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&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:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&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:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Bills receivables&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;39&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;39&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;46&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Demand accounts&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;526&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;451&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;507&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Credit and debit cards and TPVs&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;3,083&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;2,900&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;2,834&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Checks&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;203&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;194&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;212&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Transfers and other payment orders&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;735&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;689&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;648&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Insurance product commissions&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;172&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;178&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;200&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Loan commitments given&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;222&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;223&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;231&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Other commitments and financial guarantees given&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;392&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;390&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;396&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Asset management&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;1,066&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;1,023&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;923&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Securities fees&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;319&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;325&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;385&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Custody securities&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;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;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;122&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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;Other fees and commissions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-bottom-style:solid;border-bottom-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-bottom-style:solid;border-bottom-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;642&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-bottom-style:solid;border-bottom-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;598&lt;/font&gt;&lt;/td&gt;&lt;td style='width:43.5pt;border-bottom-style:solid;border-bottom-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;645&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:middle;background-color:#5AC4C4;border-color:Black;min-width:250.5pt;' &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:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:43.5pt;' &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:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;7,522&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;background-color:#5AC4C4;border-color:Black;min-width:43.5pt;' &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:43.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:43.5pt;' &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;/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:8pt;margin-left:0pt;' &gt;The breakdown of fee and commission expense under these &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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='5' rowspan='1' style='width:429.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:429.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:234.75pt;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:234.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:234.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:234.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:234.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:234.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,662&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,458&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:234.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:234.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;150&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;123&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:234.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:234.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;54&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;48&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;60&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:234.75pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:234.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:12pt;' &gt;&lt;td style='width:234.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:234.75pt;' &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:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;557&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;539&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:234.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:234.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,489&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFeeAndCommissionIncomeExpenseExplanatory>
  <bbva:Disclosureofgainsorlossesonfinancialassetsandliabilitiesandexchangedifferenecesexplanatory id="ID_10070" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;41. Gains (losses) on financial assets and liabilities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;, hedge accounting and exchange differences, net&lt;/font&gt;&lt;/p&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:8pt;margin-left:0pt;' &gt;The breakdown of the balance under this heading, by s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ource 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:23.25pt;' &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:#02A5A5;' &gt;Gains (losses) on financial assets and liabilities, hedge accounting and exchange differences, net. Breakdown by heading (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:28.5pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:20.45pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains (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:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;239&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;216&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;985&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Financial assets at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;65&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;133&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other financial assets and liabilities &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;173&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;164&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;852&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains (losses) on financial assets and liabilities held for trading, net&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;451&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;707&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;218&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other gains (losses)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;451&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;707&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:45.75pt;' &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:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;143&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:45.75pt;' &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:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other gains (losses)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;143&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;background-color:#C0C0C0;border-color:Black;min-width:45.75pt;' &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:303pt;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains (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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(94)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;143&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:12.6pt;' &gt;&lt;td style='width:303pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains (losses) from hedge accounting, net &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;72&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:12.6pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:303pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Subtotal gains (losses) on financial assets and liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;798&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;938&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:303pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;586&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,030&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:303pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:303pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,383&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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;/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:8pt;margin-left:0pt;' &gt;The breakdown of the balance (excluding exchange rate differences) under this heading in the accompanying income statements by the nature&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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='5' rowspan='1' style='width:443.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:443.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:266.25pt;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:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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:8pt;font-weight:bold;color:#072146;' &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:8pt;font-weight:bold;color:#072146;' &gt;2019&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:8pt;font-weight:bold;color:#072146;' &gt;2018&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:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:266.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:266.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&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:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;972&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:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;354&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;545&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:266.25pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(253)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;845&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:266.25pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,098)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;927&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(470)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:266.25pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;103&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(172)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:266.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:266.25pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(26)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;240&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:266.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:8pt;color:#000000;' &gt;(490)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:8pt;color:#000000;' &gt;138&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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:8pt;color:#000000;' &gt;18&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:266.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:266.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;798&lt;/font&gt;&lt;/td&gt;&lt;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;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;938&lt;/font&gt;&lt;/td&gt;&lt;/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:8pt;margin-left:0pt;' &gt;The breakdown of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;balance&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of the impact of the derivatives (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='5' rowspan='1' style='width:471pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:471pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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: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:8pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &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:52.5pt;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:52.5pt;' &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:52.5pt;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:52.5pt;' &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:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(64)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;165&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;color:#000000;' &gt;Securities agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,079)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;294&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:261pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &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:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;99&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;color:#000000;' &gt;Credit derivative agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;74&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(109)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(564)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;color:#000000;' &gt;Foreign-exchange agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(60)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;606&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;315&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;color:#000000;' &gt;Other agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(35)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(24)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:13.5pt;' &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;background-color:#5AC4C4;border-color:Black;min-width:261pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(1,158)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(261)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(177)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(150)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;(236)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;45&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;237&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:8pt;color:#000000;' &gt;Cash flow hedges&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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: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:#5AC4C4;border-color:Black;min-width:261pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(209)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &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:#5AC4C4;border-color:Black;min-width:261pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(1,098)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(470)&lt;/font&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:8pt;margin-left:0pt;' &gt;In addition, in the years ended December 31, 2019, 2018 and 2017, under the heading &amp;#8220;Exchange differences, net&amp;#8221; in the accompanying consolidated income statements amounts of negative &amp;#8364;225 million, positive &amp;#8364;113 million and positive &amp;#8364;235 million, resp&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ectively, were recognized for transactions with foreign exchange trading derivatives.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofgainsorlossesonfinancialassetsandliabilitiesandexchangedifferenecesexplanatory>
  <ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory id="ID_10071" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;42.   Other operating income and expense&lt;/font&gt;&lt;/p&gt;&lt;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;The breakdown of the balance under the heading &amp;#8220;Other operating income&amp;#8221; in the accompanying consolidated income statements is as &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &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:12.6pt;' &gt;&lt;td colspan='5' rowspan='1' style='width:471pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:471pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Other operating income (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25.5pt;' &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:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;258&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;458&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:13.5pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;91&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;283&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;884&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other operating income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;413&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;491&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:261pt;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:8pt;font-style:italic;color:#666666;' &gt;Of which: Hyperinflation adjustment  (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;146&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;120&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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:#5AC4C4;border-color:Black;min-width:261pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;671&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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;/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:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*) See Note 2.2.20.&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:8pt;margin-left:0pt;' &gt;The breakdown of the balance under the 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='5' rowspan='1' style='width:470.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:470.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Other operating expense (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &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:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &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:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;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:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:287.25pt;border-top-style:solid;border-top-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;color:#000000;' &gt;Change in inventories&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;292&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;886&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;68&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;248&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;816&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other operating expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,899&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,337&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:287.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: Contributions to guaranteed banks deposits funds &lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;770&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;727&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;703&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:middle;border-color:Black;min-width:287.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: Hyperinflation adjustment (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;538&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;494&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;31&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:middle;background-color:#5AC4C4;border-color:Black;min-width:287.25pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,006&lt;/font&gt;&lt;/td&gt;&lt;td style='width:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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:45.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:45.75pt;' &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;/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:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;See Note 2.2.20.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory>
  <bbva:DisclosureOfInsuranceandreinsurancecontractsincomeandexpensesexplanatory id="ID_10072" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;43.   Income &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;and expense from insurance and reinsurance 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:8pt;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='5' rowspan='1' style='width:492.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:492.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:21.75pt;' &gt;&lt;td style='width:297.75pt;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:297.75pt;' &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:48.75pt;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:48.75pt;' &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:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:297.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,890&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,342&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:297.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:297.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Expense on insurance and reinsurance contracts&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,751)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2,272)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:297.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:297.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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;/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;The table below &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;shows the contribution of each insurance product to the Group&amp;#180;s income for the years ended December 31, 2019, 2018 and 2017:&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:440.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:440.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Income by type of insurance product (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;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:255.75pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;631&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;682&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;604&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Individual&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;477&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;486&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:12.75pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Savings&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:12.75pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;361&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;430&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;308&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;154&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;196&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;258&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Savings&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:12.75pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Risk&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;127&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;157&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;263&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Non-Life insurance&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;508&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;373&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;464&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;90&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;110&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:12.75pt;' &gt;&lt;td style='width:255.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;418&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;263&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:12.75pt;' &gt;&lt;td style='width:255.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:255.75pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:DisclosureOfInsuranceandreinsurancecontractsincomeandexpensesexplanatory>
  <bbva:Personnelexpensesexplanatory id="ID_10073" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;44.   Administration costs&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;44.1   Personnel expense&lt;/font&gt;&lt;/p&gt;&lt;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;The breakdown of the balance under this heading in the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;accompanying consolidated i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ncome 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='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:#02A5A5;' &gt;Personnel expense (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &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:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;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:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:250.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,920&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,163&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &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:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;780&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;722&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;761&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &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:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;89&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:250.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &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:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;58&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &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:250.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:250.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other personnel expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;478&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;465&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;497&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &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:middle;background-color:#5AC4C4;border-color:Black;min-width:250.5pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,340&lt;/font&gt;&lt;/td&gt;&lt;td style='width:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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:57.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:57.75pt;' &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;/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:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;44.1.1   Share-based employee 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:8pt;margin-left:0pt;' &gt;The amounts recognized under the heading &amp;#8220;Administration costs - Personnel expense - Other personnel expense&amp;#8221; in the consolidated income statements for the year ended December&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 31, 2019, 2018 and 2017&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, corresponding  to the remuneration plans based on equity instruments in each year, amounted to &amp;#8364;31 million, &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;29&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million and &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;38&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million, respectively. These amounts have been recognized with a corresponding entry under the heading&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &amp;#8220;Shareholders&amp;#8217; funds - Other equity instruments&amp;#8221; in the accompanying consolidated balance sheets, net of tax effect.&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:8pt;margin-left:0pt;color:#000000;' &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:12pt;margin-bottom:12pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;System of Variable Remuneration in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt;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:8pt;margin-left:0pt;' &gt;BBVA has a specific remuneration system applicable to those employees whose professional activities may have a material impact on the risk profile of the Group (hereinafter &amp;#8220;Identified Staff&amp;#8221;), designed within the framework of applicable regulations&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; to credit institutions and considering best practices and recommendations at the local and international levels in this matter.&lt;/font&gt;&lt;/p&gt;&lt;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;In 2019, this remuneration scheme is reflected in the following remuneration policies: &lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;BBVA Group Remuneration Policy, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;approve&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;d by the Board of Directors on 29 of November 2017, that applies in general to all employees of BBVA and of its subsidiaries that form part of the consolidated group. This policy includes in a specific chapter the remuneration system applicable to the memb&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ers of BBVA Group Identified Staff, including Senior Management.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#000000;' &gt;BBVA Directors&amp;#8217; Remuneration Policy&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;, approved by the Board of Directors and by the General Shareholders&amp;#8217; Meeting held on March 15, 2019, that it&amp;#8217;s applicable to BBVA Directors. The remunerati&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;on system for executive directors corresponds, generally, with the applicable system to the Identified Staff, to which they belong, incorporating some particularities of their own, derived from their condition of directors.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;The Annual Variable Remuneration&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; for the Identified Staff members is subject to specific rules for settlement and payment established in their corresponding remuneration policies, specifically:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Variable remuneration for Identified Staff members for each financial year will be subject to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;ex ante &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;adjustments, so that it shall be reduced at the time of the performance assessment in the event of negative performance of the Group&amp;#8217;s results or other parameters such as the level of achievement of budgeted targets, and it shall not accrue or it w&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ill accrue in a reduced amount, should certain level of profits and capital ratios not be achieved. &lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;60% of the Annual Variable Remuneration will be paid, if conditions are met, in the year following that to which it corresponds (the &amp;#8220;Upfront Portion&amp;#8221;). Fo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;r executive directors, members of the Senior Management and Identified Staff members with particularly high variable remuneration, the Upfront Portion will be 40% of the Annual Variable Remuneration. The remaining portion will be deferred in time (hereinaf&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ter, the &amp;#8220;Deferred Component&amp;#8221;) for a 5 year-period for executive directors and members of the Senior Management, and 3 years for the remaining Identified Staff. &lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50% of the Annual Variable Remuneration, both the Upfront Portion and the Deferred Component, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;shall be established in BBVA shares. As regards executive directors and Senior Management, 60% of the Deferred Component shall be established in shares.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Shares received as Annual Variable Remuneration shall be withheld for a one-year period after delivery,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; except for the transfer of those shares required to honor the payment taxes.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The Deferred Component of the Annual Variable Remuneration may be reduced in its entirety, but never increased, based on the result of multi-year performance indicators aligned w&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ith the Group&amp;#8217;s core risk management and control metrics related to the solvency, capital, liquidity, profitability or to the share performance and the recurring results of the Group.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Resulting cash portions of the Deferred Component of Annual Variable Rem&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;uneration and subject to the multi-year performance indicators, finally delivered, shall be updated following the Consumer Price Index (CPI), measured as the year-on-year change prices, as agreed by the Board of Directors. &lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The entire Annual Variable Remun&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;eration shall be subject to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;malus&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;clawback&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; arrangements during the whole deferral and withholding period, both linked to a downturn in the financial performance of the Bank as a whole, of a specific unit or area, or of exposure generated by an Identifi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ed Staff member, when such a downturn in financial performance arises from any of the circumstances expressly named in the remuneration policies.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;No personal hedging strategies or insurances shall be used in connection with remuneration or liability that m&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ay undermine the effects of alignment with sound risk management.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The variable component of the remuneration for a financial year shall be limited to a maximum amount of 100% of the fixed component of the total remuneration, unless the General Meeting reso&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;lves to increase this percentage up to a maximum of 200%.&lt;/font&gt;&lt;/span&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:8pt;margin-left:0pt;' &gt;In this regard, the General Meeting held on March, 15, 2019 resolved to increase this limit to a maximum level of 200% of the fixed component of the total remuneration for a given number of the Iden&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tified Staff members, in the terms indicated in the report issued for this purpose by the Board of Directors dated February 11, 2019.&lt;/font&gt;&lt;/p&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:8pt;margin-left:0pt;' &gt;According to the settlement and payment scheme indicated, during 2019, a total amount of 5,236,123 BBVA shares correspondi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ng to the Upfront Portion of 2018 Annual Variable Remuneration has been delivered to the Identified Staff.&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:8pt;margin-left:0pt;' &gt;Additionally, according to the Remuneration Policy applicable in 2015, during 2019 a total amount of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 3,575,777 BBVA shares corresponding to the Deferred Component of 2015 Variable Remuneration has been delivered to the Identifies Staff. This amount has been subject to a downward adjustment due to the multi-year performance evaluation of one of the long-t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ime indicators, relative TSR, which scale has determined a downward adjustment of the Deferred Component linked to this indicator in a 10%&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#FF0000;' &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:8pt;margin-left:0pt;' &gt;Likewise, the aforesaid policy established that the deferred amounts in shares of the Annual Variable Remuneration f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;inally vested, subject to multi-year performance indicators, will be updated in cash, based on the terms established by the Board of Directors. In this regard, during 2019 a total amount of 3,003,646 euros has been delivered to the Identified Staff as upda&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tes of the corresponding shares of the Deferred Component of 2015 Annual Variable Remuneration.&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:8pt;margin-left:0pt;' &gt;Detailed information on the delivery of shares to executive directors and Senior Management is included 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:8pt;margin-left:0pt;' &gt;Lastly, in line with specific regulation app&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;licable in Portugal and Brazil, BBVA has identified the staff in these countries whose Annual Variable Remuneration should be subject to a specific settlement and payment scheme, more specifically:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A percentage of the Annual Variable Remuneration is subjec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;t to a three years deferral that shall be paid yearly over the mentioned period.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50% of the Annual Variable Remuneration, both the Upfront Portion and Deferred Component, shall be established in BBVA Shares.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Both the Upfront Portion and the Deferred Compon&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ent of the Annual Variable Remuneration may be subject to update adjustments in cash.&lt;/font&gt;&lt;/span&gt;&lt;/p&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:8pt;margin-left:0pt;' &gt;According to this remuneration scheme, during financial year 2019 a total of 21,916 BBVA shares corresponding to the Upfront Portion of 2018 Annual Variable Remuneration &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;have been delivered to this staff in Portugal and Brazil.&lt;/font&gt;&lt;/p&gt;&lt;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;Additionally, during 2019 there have been delivered to this staff in Portugal and Brazil a total of 9,717 BBVA shares corresponding to the first third of the Deferred Component of 2017 Annual Variab&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;le Remuneration, as well as 2,435 euros as adjustments for updates. A total of 12,365 BBVA shares corresponding to the second third of the Deferred Component of 2016 Annual Variable Remuneration and 5,810 euros as adjustments for updates; and a total of 10&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;,460 BBVA shares corresponding to the last third of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Deferred Component of 2015 Annual Variable Remuneration and 8,786 euros as adjustments for updates.&lt;/font&gt;&lt;/p&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;44.2   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;Other&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt; administrative expense&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:6pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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='5' 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:8pt;color:#02A5A5;' &gt;Other administrative expense (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &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:left;vertical-align:middle;border-color:Black;min-width:292.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&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:middle;border-color:Black;min-width:292.5pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,216&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:292.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:292.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Communications &lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;218&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;235&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;269&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:292.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:292.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Advertising&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;317&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;336&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;352&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:292.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:292.5pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;552&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;982&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,033&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:292.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:292.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: Rent expense (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;106&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;552&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;581&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:292.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:292.5pt;' &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:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;401&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;417&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:292.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:292.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,258&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,412&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;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:292.5pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3,963&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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;/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:6pt;margin-left:35.45pt;' &gt;(*) The change is mainly due to the implementation of IFRS 16 on January 1, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;2019 (see Note 2.1).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Personnelexpensesexplanatory>
  <ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory id="ID_10074" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;45.   Depreciation&lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt; and amortization &lt;/font&gt;&lt;/p&gt;&lt;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;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:456pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:456pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:54pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;979&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;594&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;694&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:54pt;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;584&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;589&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;680&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:54pt;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;13&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Right-of-use assets (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;392&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;text-align:right;vertical-align:middle;background-color:#BFBFBF;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#666666;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:240pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:54pt;' &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:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;620&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;613&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;694&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:240pt;' &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:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &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:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,599&lt;/font&gt;&lt;/td&gt;&lt;td style='width:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &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:54pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:54pt;' &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;/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:6pt;margin-left:35.45pt;' &gt;(*) The change is mainly due to the implementation of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;IFRS 16 on January 1, 2019 (see Note 2.1).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory>
  <ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory id="ID_10075" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;56.   Subsequent 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:8pt;margin-left:0pt;' &gt;On January 31, 2020 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2020 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;as final dividend for 2019 (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:8pt;margin-left:0pt;' &gt;From January 1, 2020 to the date of preparation of these consolidated financial statements, no other subsequent events not mentioned above in these financial statements have taken place that could significantly affe&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ct the Group&amp;#8217;s earnings or its equity position.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory>
  <ifrs-full:DisclosureOfProvisionsExplanatory id="ID_10076" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;46.   Provisions or (reversal) of 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:8pt;margin-left:0pt;' &gt;For the years ended December 31, 2019, 2018 and 2017, 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: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:#02A5A5;' &gt;Provisions or (reversal) of provisions (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:25.5pt;' &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:#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:center;vertical-align:middle;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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:#072146;' &gt;2019&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:#072146;' &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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:10.5pt;' &gt;&lt;td style='width:276.75pt;border-top-style:solid;border-top-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;color:#000000;' &gt;Pensions and other post employment defined benefit obligations&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;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;214&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;125&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;343&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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: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;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;93&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;(48)&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;(313)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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: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;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;170&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;133&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;318&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &gt;&lt;td style='width:276.75pt;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;color:#000000;' &gt;Other provisions &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: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;140&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;163&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;397&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.45pt;' &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:#5AC4C4;border-color:Black;min-width:276.75pt;' &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:#5AC4C4;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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;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:#5AC4C4;border-color:Black;min-width:51pt;' &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: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:#5AC4C4;border-color:Black;min-width:51pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;745&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfProvisionsExplanatory>
  <bbva:Disclosureofimpairmentorreversalofimpairmentonfinancialassetsnotmeasuredatfairvaluethroughprofitorlossexplanatory id="ID_10077" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;47. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;  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:11pt;font-weight:bold;color:#072146;' &gt; or net gains by modification&lt;/font&gt;&lt;/p&gt;&lt;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;The breakdown of impairment or reversal of impairment on financial assets not measured at fair value through profit &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:474.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:474.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Impairment or (reversal) of impairment on financial assets not measured at fair value through profit or loss or net gains by modification (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21pt;' &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:#0A5FB4;' &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:#072146;' &gt;Notes&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:#072146;' &gt;2019&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:#072146;' &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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24pt;' &gt;&lt;td style='width:276.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Financial assets at fair value through other comprehensive income &lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;border-top-style:solid;border-top-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;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;82&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&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;1,127&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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:49.5pt;text-align:center;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:#666666;' &gt;82&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &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:8pt;color:#666666;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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:49.5pt;text-align:center;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;background-color:#D9D9D9;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;background-color:#D9D9D9;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;color:#666666;' &gt;1,131&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:middle;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Financial assets at amortized cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:center;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;4,069&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,980&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,677&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:middle;border-color:Black;min-width:276.75pt;' &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:49.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;7.1.5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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:#666666;' &gt;919&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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:#666666;' &gt;589&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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:#666666;' &gt;558&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:middle;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Held to maturity investments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:49.5pt;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;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;background-color:#D9D9D9;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;background-color:#D9D9D9;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;(1)&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;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;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:center;vertical-align:middle;background-color:#5AC4C4;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:#5AC4C4;border-color:Black;min-width:49.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,151&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:#5AC4C4;border-color:Black;min-width:49.5pt;' &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: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:#5AC4C4;border-color:Black;min-width:49.5pt;' &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;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofimpairmentorreversalofimpairmentonfinancialassetsnotmeasuredatfairvaluethroughprofitorlossexplanatory>
  <bbva:Disclosureofimpairmentorreversalofimpairmentonnonfinancialassetsexplanatory id="ID_10078" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;48.   Impairment or (reversal) of impairment on non-financial assets&lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt; &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:8pt;margin-left:0pt;' &gt;The impairment losses on non-financial assets broken &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:519pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:519pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&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;Tangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;94&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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: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;Intangible assets (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &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: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;Others   &lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;306&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:#5AC4C4;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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;1,447&lt;/font&gt;&lt;/td&gt;&lt;td style='width:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &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:59.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:59.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;364&lt;/font&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:6pt;margin-left:35.45pt;' &gt;(*) The balance of 2019 mainly corresponds to the impairment of the CGU in The United States (see Note 18).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofimpairmentorreversalofimpairmentonnonfinancialassetsexplanatory>
  <bbva:Disclosuregainslossesonderecognitionofnonfinancialassetsandsubsidiariesnetexplanatory id="ID_10079" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;49.   Gains (losses&lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;) on derecognition of non financial assets and subsidiaries, net&lt;/font&gt;&lt;/p&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;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: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:8pt;color:#02A5A5;' &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:292.5pt;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:292.5pt;' &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:48.75pt;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:48.75pt;' &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:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;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:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:8pt;color:#000000;' &gt;Disposal of investments in non-consolidated subsidiaries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;55&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:12.75pt;' &gt;&lt;td style='width:292.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:292.5pt;' &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:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;81&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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: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:8pt;color:#000000;' &gt;Disposal of investments in non-consolidated subsidiaries&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:292.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:292.5pt;' &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:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(37)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(45)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:48.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:48.75pt;' &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:14.25pt;' &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:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:292.5pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &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:48.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:48.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;47&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosuregainslossesonderecognitionofnonfinancialassetsandsubsidiariesnetexplanatory>
  <bbva:Disclosureofprofitorlossfromnoncurrentassetsanddisposalgroupsclassifiedasheldforsalenotqualifyingasdiscontinuedoperationsexplanatory id="ID_10080" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;50.   Gain (losses) from non-current assets&lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt; and disposal groups classified as held for sale not qualifying as discontinued operations&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:18pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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: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:#02A5A5;' &gt;Gain (losses) 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:12.75pt;' &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:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &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:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;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:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&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:middle;border-color:Black;min-width:276.75pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;89&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &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:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(77)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(208)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:22.5pt;' &gt;&lt;td style='width:276.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:276.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Gains (losses) on sale of investments classified as non-current assets held for sale (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;894&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:52.5pt;' &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:13.5pt;' &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:#5AC4C4;border-color:Black;min-width:276.75pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &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:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:52.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &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:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;The vari&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;ation in year 2018 is mainly due to the sale of the BBVA stake in BBVA Chile (see Note 3).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Disclosureofprofitorlossfromnoncurrentassetsanddisposalgroupsclassifiedasheldforsalenotqualifyingasdiscontinuedoperationsexplanatory>
  <ifrs-full:DisclosureOfCashFlowStatementExplanatory id="ID_10081" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;51.   Consol&lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;idated statements of 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:8pt;margin-left:0pt;' &gt;In the consolidated statements of cash flows, balance of &amp;#8220;Cash equivalent in central banks&amp;#8221; includes short-term deposits at central banks recorded under the heading &amp;quot;Financial assets at amortized cost&amp;quot; in the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 deposits&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:8pt;margin-left:0pt;' &gt;The variation between 2019 and 2018 of the financial liabilit&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ies from financing 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:586.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:586.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:224.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:top;border-color:Black;min-width:224.25pt;' &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:51.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;December 31, 2018&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:51.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Cash flows &lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:207pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:207pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Non-cash changes&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:51.75pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;December 31, 2019&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:top;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;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:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Acquisition&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;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:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Disposal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;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:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Foreign exchange movement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;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:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Fair value changes&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;Liabilities at amortized cost: Debt certificates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;61,112 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;2,643 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;209 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;63,963 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: Issuances of subordinated liabilities (*) &lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;17,635 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;(190)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &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:51.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &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:51.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;229 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:51.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &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:51.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:51.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;17,675 &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:left;margin-top:6pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*) Additionally, there are &amp;#8364;384 million of issuances of subordinated liabilities as of December 2019 (see Note 22 and Appendix VI). The &amp;#8364;40 million subordinated issuances of BBVA Parag&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;uay as of December 2019 are recorded in the heading &amp;quot;Liabilities included in disposal groups classified as held for sale&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:16.5pt;' &gt;&lt;td colspan='8' rowspan='1' style='width:602.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:602.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:192.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:top;border-color:Black;min-width:192.75pt;' &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:58.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;December 31, 2017&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Cash flows &lt;/font&gt;&lt;/td&gt;&lt;td colspan='4' rowspan='1' style='width:234pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:234pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Non-cash changes&lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;December 31, 2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:top;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;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:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Acquisition&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;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:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Disposal&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;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:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Foreign exchange movement&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;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:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Fair value changes&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24.75pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;Liabilities at amortized cost: Debt certificates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;61,649 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;2,152 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(1,828)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;(862)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#333333;' &gt;61,112 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18.6pt;' &gt;&lt;td style='width:192.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:192.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;Of which: Issuances of subordinated liabilities (*) &lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;17,443 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;857 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &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:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;(694)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;29 &lt;/font&gt;&lt;/td&gt;&lt;td style='width:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &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:58.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:58.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#666666;' &gt;17,635 &lt;/font&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:6pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(*) Additionally, there were &amp;#8364;411 million of issuances of subordinated liabilities as of December 2019 (see &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Note 22 and Appendix VI). The &amp;#8364;574 million subordinated issuances of BBVA Chile as of December 2019 were recorded in the heading &amp;quot;Liabilities included in disposal groups classified as held for sale&amp;quot;.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfCashFlowStatementExplanatory>
  <ifrs-full:DisclosureOfAuditorsRemunerationExplanatory id="ID_10082" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;52.   Accountant fees and services&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:8pt;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, 2019, 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='4' rowspan='1' style='width:597.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:597.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#01A5A5;' &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:350.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:350.25pt;' &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:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21.75pt;' &gt;&lt;td style='width:350.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:350.25pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:36.75pt;' &gt;&lt;td style='width:350.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:350.25pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:11.25pt;' &gt;&lt;td style='width:350.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:350.25pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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;/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:6pt;margin-left:0pt;' &gt;(*)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Including fees pertaining to annual legal audits (&amp;#8364;24.1, &amp;#8364;22.4 and &amp;#8364;22.6 million as of December 31, 2019, 2018 and 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:6pt;margin-left:0pt;' &gt;(**)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;Regardless of the billed year.&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:8pt;margin-left:0pt;' &gt;In the years ended December 31, 2019, 2018 and 2017, cert&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ain entities in the 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='4' rowspan='1' style='width:572.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:572.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#01A5A5;' &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:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:345pt;' &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:75.75pt;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:75.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75.75pt;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:75.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75.75pt;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:75.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:345pt;' &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:75.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:75.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:75.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:12pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; at the date of preparation 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='4' rowspan='1' style='width:577.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:577.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#01A5A5;' &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:350.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:350.25pt;' &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:75.75pt;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:75.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75.75pt;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:75.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75.75pt;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:75.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:350.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:350.25pt;' &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:75.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:75.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:350.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:350.25pt;' &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:75.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:75.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:350.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:350.25pt;' &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:75.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:75.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:75.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:350.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:350.25pt;' &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:75.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:75.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:75.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:350.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:350.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Assurance services and other required by the regulator&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:75.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:75.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:6pt;margin-left:0pt;' &gt;(*)    &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;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.&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:8pt;margin-left:0pt;' &gt;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).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfAuditorsRemunerationExplanatory>
  <ifrs-full:DisclosureOfRelatedPartyExplanatory id="ID_10083" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;53.   Relate&lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;d-party 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:8pt;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. These transactions are not relevant and are carried out under normal &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;market conditions. As of December 31, 2019, 2018, and 2017 the following are the transactions with related parties:&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;53.1   Transactions with significant shareholders&lt;/font&gt;&lt;/p&gt;&lt;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;As of December 31, 2019, 2018 and 2017, there were no shareholders considered significant &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;(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:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;53.2   Transactions with BBVA Group entities&lt;/font&gt;&lt;/p&gt;&lt;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;The balances of the main captions 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:8pt;' &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='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:#02A5A5;' &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:18pt;' &gt;&lt;td style='width:224.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:224.25pt;' &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: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:8pt;font-weight:bold;color:#004481;' &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:8pt;font-weight:bold;color:#072146;' &gt;2019&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:8pt;font-weight:bold;color:#072146;' &gt;2018&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:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:224.25pt;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:224.25pt;' &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: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:8pt;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:8pt;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:8pt;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:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:224.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &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: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:8pt;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;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&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:8pt;color:#000000;' &gt;132&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:8pt;color:#000000;' &gt;91&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:224.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &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: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:8pt;color:#000000;' &gt;&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:8pt;color:#000000;' &gt;1,682&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:8pt;color:#000000;' &gt;1,866&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:8pt;color:#000000;' &gt;510&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:224.25pt;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:224.25pt;' &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: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:8pt;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:8pt;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:8pt;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:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:224.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &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: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:8pt;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;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&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:8pt;color:#000000;' &gt;2&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:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &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:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:8pt;color:#000000;' &gt;453&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:8pt;color:#000000;' &gt;521&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:8pt;color:#000000;' &gt;428&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:224.25pt;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:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Memorandum accounts&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:8pt;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:8pt;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:8pt;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:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:224.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &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: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:8pt;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;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;166&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:8pt;color:#000000;' &gt;152&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:8pt;color:#000000;' &gt;114&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other contingent commitments given&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:8pt;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:8pt;color:#000000;' &gt;1,042&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:8pt;color:#000000;' &gt;1,358&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:8pt;color:#000000;' &gt;1,175&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &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:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:8pt;color:#000000;' &gt;106&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:8pt;color:#000000;' &gt;78&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:8pt;color:#000000;' &gt;78&lt;/font&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:8pt;margin-left:0pt;' &gt;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 metho&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d 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:498pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:498pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Balances of consolidated 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:21pt;' &gt;&lt;td style='width:324pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:324pt;' &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: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:#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: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:#072146;' &gt;2019&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:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&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:Black;min-width:43.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;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:324pt;' &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 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: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;border-bottom-style:solid;border-bottom-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;border-bottom-style:solid;border-bottom-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;border-bottom-style:solid;border-bottom-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;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:324pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Interest and other income&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;19&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;55&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;26&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:324pt;' &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: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;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;2&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;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:324pt;' &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: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;4&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&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&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:324pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:324pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fee and commission expense&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;53&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;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:12pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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 poli&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;cies to cover pension or similar commitments (see Note 25) and the derivatives 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:8pt;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:8pt;' &gt;nd commitments of various types with shareholders of subsidiaries and associates, which have no material effects on the 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:10pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;53.3   Transactions with members of the Board of Directors 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:8pt;margin-left:0pt;' &gt;The amount and nature of the transactions carried out with members of the Board of Directors and Senior Management of BBVA is given &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;below. T&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;hese transactions belong to the Bank&amp;#39;s &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ordinary&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; business&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; or traffic&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, are &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;of little relevance&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and are carried out under normal market 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:8pt;margin-left:0pt;' &gt;As of December 31, 2019 and 2018, the amount availed against the loans granted by the Group&amp;#8217;s entities &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;to the members of the Board of Directors amounted to &amp;#8364;607 and &amp;#8364;611 thousand, respectively. As of December 31, 2017, there were no loans granted by the Group&amp;#8217;s entities to the members of the Board of 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:8pt;margin-left:0pt;' &gt;As of December 31, 2019, 2018 and 2017, there&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; were no loans granted to parties related to the members of the Board of 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:8pt;margin-left:0pt;' &gt;As of December 31, 2019, 2018 and 2017, the amount availed against the loans granted by the Group&amp;#8217;s entities to the members of Senior Management (excluding the executive di&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rectors) amounted to &amp;#8364;4,414, &amp;#8364;3,783 and &amp;#8364;4,049 thousand, respectively. The amount availed against the loans granted to parties related to members of the Senior Management on those same dates amounted to &amp;#8364;57, &amp;#8364;69 and &amp;#8364;85 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:8pt;margin-left:0pt;' &gt;As of Decemb&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;er 31, 2019, 2018 and 2017 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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;As of December 31, 2019, 2018 and 2017, the amount availed against guarantees arranged with members of the Senior Management amounted to &amp;#8364;10, &amp;#8364;38 and &amp;#8364;28 tho&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;usand, 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:8pt;margin-left:0pt;' &gt;As of December 31, 2019 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 to &amp;#8364;25 thousand. As of December 31, 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, 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 Management. As of December 31, 2017 the amount availed against commercial loans and guarantees arranged with parties rel&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ated to the members of the Bank&amp;#8217;s Board of Directors and the Senior Management totaled &amp;#8364;8 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:8pt;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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;53.4   Transactions with oth&lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;er related 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:8pt;margin-left:0pt;' &gt;As of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;December 31, 2019, 2018 and 2017&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, 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 margin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;al 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>
  <ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory id="ID_10084" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;54.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;  &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt; Remuneration and other benefits for the Board of Directors and members of the Bank&amp;#39;s Senior Management&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;font-weight:bold;margin-left:0pt;color:#002060;' &gt;Remuneration received by non-executive directors in 2019&lt;/font&gt;&lt;/p&gt;&lt;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;The remunerations paid to non-executive members of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the Board of Directors during the 2019 financial year are indicated below, individualized 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:15pt;' &gt;&lt;td colspan='10' rowspan='1' style='width:615pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:615pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Remuneration for non-executive directors (Thousands of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:45.75pt;' &gt;&lt;td style='width:61.5pt;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:61.5pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Board of Directors&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Executive Committee&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Audit Committee &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Risk and Compliance Committee&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Remunerations Committee &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Appointments and Corporate Governance Committee&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Technology and Cybersecurity Committee&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Other functions (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Tom&amp;#225;s Alfaro Drake&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;214&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:61.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Jos&amp;#233; Miguel Andr&amp;#233;s Torrecillas &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;104&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;111&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;33&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;483&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:61.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Jaime Caruana Lacorte &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;167&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;110&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;527&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:61.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Bel&amp;#233;n Garijo L&amp;#243;pez&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;68&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;45&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;348&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:61.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Sunir Kumar Kapoor &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;172&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:61.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Carlos Loring Mart&amp;#237;nez de Irujo&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;167&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;445&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:61.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Lourdes M&amp;#225;iz Carro&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;68&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;253&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:61.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Jos&amp;#233; Maldonado Ramos&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;167&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;45&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;340&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:61.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Ana Peralta Moreno &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;68&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;240&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:61.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Juan Pi Llorens &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;24&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;214&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;31&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;53&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;493&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &gt;&lt;td style='width:61.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Susana Rodr&amp;#237;guez Vidarte &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;167&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;107&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;45&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;447&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Jan Verplancke &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;129&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;43&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;172&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Total (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,545&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;667&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;442&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;642&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;278&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;289&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;186&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;4,134&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:6pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;margin-left:0pt;' &gt;(1)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;' &gt;Amounts received during the 2019 financial year by Jos&amp;#233;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;' &gt; Miguel Andr&amp;#233;s Torrecillas, in his capacity as Deputy Chair of the Board of Directors, and by Juan Pi Llorens, in his capacity as Lead Director, positions for which they were appointed by resolution of the Board of Directors on 29 April 2019.&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:7pt;margin-left:0pt;' &gt;(2)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;' &gt;This in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;' &gt;cludes the amounts corresponding to the position of member of the Board and of the various committees during the 2019 financial year. By resolution of the Board of Directors on 29 April 2019, the functions of some Board committees were redistributed, and t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;' &gt;heir associated remunerations adapted to these changes in some cases.&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:8pt;margin-left:0pt;' &gt;Also, during the 2019 financial year, &amp;#8364;104 thousand have been paid out in casualty and healthcare insurance premiums for non-executive members 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:9pt;font-weight:bold;margin-left:0pt;color:#002060;' &gt;Remuneration rec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#002060;' &gt;eived by executive directors in 2019&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:8pt;margin-left:0pt;' &gt;Over the course of financial year 2019, the executive directors have received the amount of the Annual Fixed Remuneration corresponding to said financial year, established for each director in the Remuneration Policy fo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;r BBVA Directors, which was approved by the General Meeting held on 15 March 2019.&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:8pt;margin-left:0pt;' &gt;In addition, the executive directors have received their Annual Variable Remuneration (AVR) for the 2018 financial year, which, in accordance with the settlement and payment&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; system set out in the remuneration policy applicable to said year, was due to be paid to them during the 2019 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:8pt;margin-left:0pt;' &gt;In application of this settlement and payment system:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;40% of the 2018 Annual Variable Remuneration corresponding to executive dir&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ectors has been paid in the 2019 financial year (the &amp;quot;Upfront Portion&amp;quot;); in equal parts in cash and BBVA shares.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The remaining 60% of the Annual Variable Remuneration has been deferred (40% in cash and 60% in shares) for a period of five years, and its acc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rual and payment will be subject to compliance with a series of multi-year indicators (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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; its entirety, but in no event may such amount be increased. Provided that the relevant conditions have been met, the resulting amount will then be paid, in cash and in BBVA shares, according to the following payment schedule: 60% in 2022, 20% in 2023 and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the remaining 20% in 2024.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;All the shares delivered to the executive directors as Annual Variable Remuneration, both as part of the Upfront Portion and the Deferred Portion, will be withheld for a period of one year after their delivery; this will not appl&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;y to those shares transferred to honor the payment of taxes arising therefrom.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The Deferred Portion of the Annual Variable Remuneration payable in cash will be subject to updating under the terms established by the Board of Directors.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Executive directors &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The variable component of the remuneration for executive directors corresp&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;onding to the 2018 financial year is limited to a maximum amount of 200% of the fixed component of the total remuneration, as agreed by the General Shareholders&amp;#39; Meeting held during that financial year.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Over the entire deferral and withholding period, the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Annual Variable Remuneration for the executive directors will be subject to variable remuneration reduction and recovery arrangements (malus and clawback).&lt;/font&gt;&lt;/span&gt;&lt;/p&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;Additionally, upon receipt of the shares, executive directors will not be allowed to transfer a &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;number equivalent to twice their Annual Fixed Remuneration 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:8pt;margin-left:0pt;' &gt;Similarly, in accordance with the Remuneration Policy for BBVA Directors applicable in 2015 and in application of the settlement and payment system of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the Annual Variable Remuneration for said financial year, the Group Executive Chairman and the executive director Head of Global Economics &amp;amp; Public Affairs (&amp;quot;Head of GE&amp;amp;PA&amp;quot;) have received in 2019 the deferred Annual Variable Remuneration for the 2015 fina&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ncial year, delivery of which was due that year (50% of the Annual Variable Remuneration), after being adjusted downwards following the result of the TSR indicator. This remuneration has been paid in equal parts in cash and in shares, together with the cor&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;responding update in cash, thus concluding payment of the Annual Variable Remuneration to the executive directors for the 2015 financial year.&lt;/font&gt;&lt;/p&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;In accordance with the above, the remunerations paid to executive directors during the 2019 financial year are in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;dicated below, individualized 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:15pt;' &gt;&lt;td colspan='3' rowspan='1' style='width:306pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:306pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Annual Fixed Remuneration for 2019 (Thousands of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:183.75pt;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:183.75pt;' &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:122.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:122.25pt;' &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:15pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:183.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:183.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Group Executive Chairman&lt;/font&gt;&lt;/td&gt;&lt;td style='width:122.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:122.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,453&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:183.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:183.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Chief Executive Officer &lt;/font&gt;&lt;/td&gt;&lt;td style='width:122.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:122.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,179&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:183.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:183.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Director de GE&amp;amp;PA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:122.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:122.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;834&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:122.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:122.25pt;' &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:122.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:122.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,466&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:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;In addition, in accordance with the current Remuneration Policy for BBVA Directors, during the 2019 financial year, the Chief Executive Officer (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Consejero Delegado) has &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;received the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; corresponding amounts of fixed remuneration for the concepts of cash in lieu of pension, given that he does not have a retirement pension (see the Pension Commitments section of this Note), and mobility allowance. The Bank therefore paid the Chief Executi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ve Officer the amount of &amp;#8364;654 thousand and &amp;#8364;506 thousand, respectively, for these concepts during the 2019 financial year.&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='4' rowspan='1' style='width:404.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:justify;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:404.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Annual Variable Remuneration for 2018 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='1' rowspan='2' style='width:177pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:177pt;' &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:75.75pt;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:75.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;In cash (1)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='2' style='width:151.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:151.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;In shares (1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &gt;&lt;td style='width:75.75pt;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:75.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;(thousands of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Group Executive Chairman &lt;/font&gt;&lt;/td&gt;&lt;td style='width:75.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;479&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:151.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:151.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;100,436&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Chief Executive Officer (2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;200&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:151.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:151.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;41,267&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;border-bottom-style:solid;border-bottom-width:1;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Head of GE&amp;amp;PA &lt;/font&gt;&lt;/td&gt;&lt;td style='width:75.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;79&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:151.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:151.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,641&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:177pt;' &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:75.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:75.75pt;' &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 colspan='2' rowspan='1' style='width:151.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:151.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;158,344&lt;/font&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:0pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;margin-left:0pt;' &gt;(1)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;' &gt;Remunerations corresponding to the upfront portion (40%) of the AVR for the 2018 financial year (50% pa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;' &gt;id in cash and 50% in BBVA shares). For the Group Executive Chair&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;' &gt;man and Chief Executive Officer, these variable remunerations are linked to their previous positions as Chief Executive Officer and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;' &gt;President &amp;amp; CEO&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;' &gt; of BBVA&amp;#160;USA, respectively.&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:7pt;margin-left:0pt;' &gt;(2)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;' &gt;Remunerati&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;' &gt;on received in US dollars. Data in thousands of Euros is for information purposes.&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='4' rowspan='1' style='width:381.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:381.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Deferred Annual Variable Remuneration for 2015&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='1' rowspan='2' style='width:177pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;In cash (1)&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='2' style='width:136.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:136.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;In shares (1)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;(thousands of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Group Executive Chairman&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;612&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:136.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:136.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;79,157&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Head of GE&amp;amp;PA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;113&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:136.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:136.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;14,667&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#FFFFFF;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#FFFFFF;' &gt;725&lt;/font&gt;&lt;/td&gt;&lt;td colspan='2' rowspan='1' style='width:136.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:136.5pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#FFFFFF;' &gt;93,824&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:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;margin-left:0pt;' &gt;(1)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;' &gt;Remunerations corresponding to deferred AVR for financial year 2015 (50% of the AVR for 2015, in equal parts in cash and shares), payment of which was due in 2019, together with its corresponding update in cash, and after its downward adjustment following &lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;' &gt;the result of the TSR indicator. For the Group Executive Chairman, these variable remunerations relate to his previous position as Chief Executive Officer.&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:8pt;margin-left:0pt;' &gt;In addition, the executive directors received remuneration in kind throughout financial year 2019, i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ncluding insurance premiums and others, amounting to a total of &amp;#8364;411 thousand, of which &amp;#8364;184 thousand correspond to the Group Executive Chairman, &amp;#8364;144 thousand to the Chief Executive Officer and &amp;#8364;83 thousand to the executive director Head of GE&amp;amp;PA.&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;font-weight:bold;margin-left:0pt;color:#002060;' &gt;Remuner&lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#002060;' &gt;ation received by Senior Management in 2019&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:8pt;margin-left:0pt;' &gt;During the 2019 financial year, the members of Senior Management, excluding executive directors, have received the amount of the Annual Fixed Remuneration corresponding to that 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:8pt;margin-left:0pt;' &gt;In addition, they h&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ave received the Annual Variable Remuneration for financial year 2018, which, in accordance with the settlement and payment system set out in the remuneration policy applicable for said financial year, was due to be paid to them during financial year 2019.&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:8pt;margin-left:0pt;' &gt;Under this settlement and payment system, the same rules as set out above for executive directors are applicable. These include, among others: 40% of the Annual Variable Remuneration, in equal parts in cash and in BBVA shares, will be paid in the financia&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;l year following the year to which it corresponds (the &amp;quot;Upfront Portion&amp;quot;), and the remaining 60% will be deferred (40% in cash and 60% in shares) for a five-year period, with its accrual and payment being subject to compliance with a series of multi-year i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ndicators (the &amp;quot;Deferred Portion&amp;quot;), applying the same payment schedule established for executive directors. The shares received will be withheld for a period of one year (this will not apply to those shares transferred to honour the payment of taxes arisin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;g therefrom). Likewise, senior management may not use personal hedging strategies or insurance in connection with the remuneration; the variable component of the remuneration for Senior Management corresponding to financial year 2018 will be limited to a m&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;aximum amount of 200% of the fixed component of the total remuneration; and over the entire deferral and withholding period, the Annual Variable Remuneration will be subject to reduction and recovery (malus and clawback) arrangements.&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:8pt;margin-left:0pt;' &gt;Similarly, in accorda&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nce with the remuneration policy applicable to the executive directors in 2015 and in application of the settlement and payment system of the Annual Variable Remuneration for said financial year, the members of the Senior Management who were beneficiaries &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;of such remuneration, have received in 2019 the deferred portion of the Annual Variable Remuneration for financial year 2015, after being adjusted downwards following the result of the TSR indicator, in equal parts in cash and in shares, along with its upd&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ate in cash, concluding the payment of this remuneration to the members of the Senior Management.&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:8pt;margin-left:0pt;' &gt;In accordance with the above, the remuneration paid during the 2019 financial year to all members of the Senior Management as a whole, who held that position &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;as of 31 December 2019 (15 members), excluding executive directors, 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:15pt;' &gt;&lt;td colspan='2' rowspan='1' style='width:296.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:296.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Annual Fixed Remuneration for 2019 (thousands of Euros) &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:219pt;' &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: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:#004481;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:219pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:219pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Senior Management total&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;13,883&lt;/font&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='3' rowspan='1' style='width:321pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:321pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Annual Variable Remuneration for 2018 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='1' rowspan='2' style='width:177pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:177pt;' &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: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:8pt;font-weight:bold;color:#072146;' &gt;In cash &lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' 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:8pt;font-weight:bold;color:#072146;' &gt;In shares &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &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:8pt;font-weight:bold;color:#072146;' &gt;(thousands of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Senior Management total&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:8pt;color:#000000;' &gt;887&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:8pt;color:#000000;' &gt;185,888&lt;/font&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:7pt;margin-left:0pt;' &gt;(1)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;' &gt;Remunerations corresponding to the upfront portion (40%) of the AVR for financial year 2018 (paid 50% in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;' &gt; cash and 50% in BBVA shares). For those members of the Senior Management who were appointed by the Board of Directors on 20 December 2018 and 29 April, 30 July and 19 December 2019, this remuneration relates to their previous positions.&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='3' rowspan='1' style='width:306pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:306pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Annual Variable Remuneration for 2015 &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td colspan='1' rowspan='2' style='width:177pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:177pt;' &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:64.5pt;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:64.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;In cash &lt;/font&gt;&lt;/td&gt;&lt;td colspan='1' rowspan='2' style='width:64.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:64.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;In shares &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:23.25pt;' &gt;&lt;td style='width:64.5pt;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:64.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;(thousands of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Senior Management total&lt;/font&gt;&lt;/td&gt;&lt;td style='width:64.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:64.5pt;' &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:64.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:64.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;163,215&lt;/font&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:7pt;margin-left:0pt;' &gt;(1)   Remunerations corresponding to deferred AVR for financial year 2015 (50% of the AVR for 2015, in equal parts in cash and in shares), payment of which was due in 2019, together with its corresponding update in cash, and after its downward &lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;' &gt;adjustment following the result of the TSR indicator.&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:8pt;margin-left:0pt;' &gt;In addition, all members of Senior Management, excluding executive directors, have received remuneration in kind throughout the 2019 financial year, including insurance premiums and others, amounting to&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; a total of &amp;#8364;769 thousand.&lt;/font&gt;&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;font-weight:bold;margin-left:0pt;color:#002060;' &gt;Remunerations of executive directors due in 2020 and subsequent financial years&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:0pt;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:14.2pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#006EC1;' &gt;Annual Variable Remuneration for executive directors for the 2019 financial year&lt;/font&gt;&lt;/span&gt;&lt;/p&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;Following year-end 2019, the Annual Variable Remuneration for execut&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ive directors corresponding to said period has been determined, applying the conditions set out in the Remuneration Policy for BBVA Directors approved by the General Meeting on 15 March 2019. As in the previous financial year, the following settlement and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;payment system applies to this remuneration:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:0pt;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:14.2pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The Upfront Portion (40% of the 2019 Annual Variable Remuneration) will be paid, provided that the conditions are met, during the first quarter of 2020, in equal parts in cash and in shares, which amounts to &amp;#8364;63&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;6 thousand and 126,470 BBVA shares in the case of the Group Executive Chairman; &amp;#8364;571 thousand and 113,492 BBVA shares in the case of the Chief Executive Officer and &amp;#8364;75 thousand and 14,998 BBVA shares in the case of the Head of GE&amp;amp;PA.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:0pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:14.2pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The remaining 60% of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the 2019 Annual Variable Remuneration will be deferred (40% in cash and 60% in shares) over a five-year period (Deferred Portion), subject to compliance with the multi-year performance indicators determined by the Board of Directors at the start of financi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;al year 2019, which may lead to a reduction in the Deferred Portion, even in its entirety, but in no event may such amount be increased. These multi-year performance indicators will be calculated over the first three years of deferral and, provided that th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e relevant conditions have been met, the resulting amount will then be paid, in cash and in BBVA shares, according to the following payment schedule: 60% after the third year of deferral; 20% after the fourth year of deferral; and the remaining 20% after t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he fifth year of deferral. All the above is subject to the settlement and payment system set out in the Remuneration Policy for BBVA Directors, which includes, among others, malus and clawback arrangements and retention periods for the shares.&lt;/font&gt;&lt;/span&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:8pt;margin-left:0pt;' &gt;The amounts &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;corresponding to the deferred shares are detailed in the section &amp;quot;Other capital instruments &amp;#8211; Remunerations based on Capital Instruments&amp;quot; and the cash part in &amp;quot;Other Liabilities/Other Accruals&amp;quot; in the consolidated balance sheet as of 31 December 2019.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:0pt;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:14.2pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#006EC1;' &gt;Deferred Annual Variable Remuneration of executive directors for financial year 2016&lt;/font&gt;&lt;/span&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:8pt;margin-left:0pt;' &gt;Following year-end 2019, the deferred Annual Variable Remuneration of executive directors for financial year 2016&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;(50%) has been determined, with delivery, if conditions a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;re met, during financial year 2020, subject to the conditions established for this purpose in the remuneration policy applicable in that 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:8pt;margin-left:0pt;' &gt;Thus, based on the result of each of the multi-year performance indicators set by the Board in 2016 to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;calculate the deferred portion of this remuneration, and in application of the relevant scales of achievement and their corresponding targets and weightings, the final amount of the deferred Annual Variable Remuneration for financial year 2016 has been det&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ermined, following the corresponding downward adjustment as a consequence of the result of the TSR indicator. As a result, such remuneration, including the corresponding updates, has been determined in an amount of &amp;#8364;656 thousand and 89,158 BBVA shares in t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he case of the Group Executive Chairman; &amp;#8364;204 thousand and 31,086 BBVA shares in the case of the Chief Executive Officer; and &amp;#8364;98 thousand and 13,355 BBVA shares in the case of the Head of GE&amp;amp;PA. With these amounts paid, there will be no more outstanding p&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ayments due to the executive directors in respect of Annual Variable Remuneration for the 2016 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:8pt;margin-left:0pt;' &gt;Lastly, as at year-end 2019, in addition to the abovementioned Deferred Portion of the Annual Variable Remuneration of the executive directors fo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;r financial year 2019 and in accordance with the conditions established in the remuneration policies applicable in previous years, 60% of the Annual Variable Remuneration corresponding to financial years 2017 and 2018 has been deferred and is pending payme&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nt  to the executive directors and will be received in future years, if the applicable conditions are met.&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;font-weight:bold;margin-left:0pt;color:#002060;' &gt;Remunerations of Senior Management due in 2020 and subsequent financial years&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:0pt;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:14.2pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#006EC1;' &gt;Annual Variable Remuneration of Senior Management for financial year 20&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#006EC1;' &gt;19&lt;/font&gt;&lt;/span&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:8pt;margin-left:0pt;' &gt;Following year-end 2019, the Annual Variable Remuneration of Senior Management corresponding to said financial&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;year has been determined (15 members as of 31 December 2019, excluding executive directors). The Annual Variable Remuneration for all members &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;of the Senior Management, excluding executive directors, has been determined to be a combined total amount of &amp;#8364;6,363 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:8pt;margin-left:0pt;' &gt;The 2019 Annual Variable Remuneration for each member of Senior Management will be paid, in the first quarter of 2020, in accorda&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nce with the settlement and payment system applicable in each case and in accordance with the provisions of the BBVA Group&amp;#39;s Remuneration Policy, if the applicable conditions are met, in an amount equal to &amp;#8364;1,291 thousand and 257,907 BBVA shares (Upfront P&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ortion). The remaining amount will be deferred and subject to the remaining conditions of the settlement and payment system of the applicable Annual Variable Remuneration.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:0pt;text-align:justify;margin-top:10pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:14.2pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#006EC1;' &gt;Determination of the Deferred Annual Variable Remuneration of Senior Management for &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#006EC1;' &gt;financial year 2016&lt;/font&gt;&lt;/span&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:8pt;margin-left:0pt;' &gt;Following year-end 2019, the deferred Annual Variable Remuneration of Senior Management (15 members as of 31 December 2019, excluding executive directors) for financial year 2016 has been determined, with delivery, if conditions are met&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, taking place during financial year 2020, subject to the conditions established for this purpose in the applicable remuneration policy.&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:8pt;margin-left:0pt;' &gt;Thus, based on the result of each of the multi-year performance indicators set by the Board in 2016 to calculate the de&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ferred portion of this remuneration, and in application of the relevant scales of achievement and their corresponding targets and weightings, the final amount of the deferred portion of the Annual Variable Remuneration for members of the Senior Management &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;for financial year 2016 has been determined, following the corresponding downward adjustment as a consequence of the result of the TSR indicator. The combined total amount, excluding executive directors, has been determined to be &amp;#8364;1,277 thousand and 196,89&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;9 BBVA shares, including the corresponding updates. With these amounts paid, there will be no more outstanding payments due to the Senior Management in respect of the Annual Variable Remuneration for the 2016 financial year.&lt;/font&gt;&lt;/p&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;Lastly, in addition to the abov&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ementioned Deferred Portion of the Annual Variable Remuneration for financial year 2019, as at year-end 2019 and in accordance with the conditions established in the remuneration policies applicable in previous years, 60% of the Annual Variable Remuneratio&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n corresponding to financial years 2017 and 2018 has been deferred and is pending payment to the members of the Senior Management and will be received in future years if the applicable conditions are met.&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;font-weight:bold;margin-left:0pt;color:#002060;' &gt;Remuneration system with deferred delivery of share&lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#002060;' &gt;s for non-executive 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:8pt;margin-left:0pt;' &gt;BBVA has a remuneration system in shares with deferred delivery for its non-executive directors, which was approved by the General Shareholders&amp;#39; Meeting held on 18 March 2006 and extended by resolutions of the General Meetings&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; held on 11 March 2011 and 11 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:8pt;margin-left:0pt;' &gt;This 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 rece&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ived in cash by each of them in the previous financial year. This is calculated according to the average closing prices of BBVA shares during the 60 trading sessions prior to the dates of the Annual General Shareholders&amp;#39; Meetings that approve the correspon&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ding annual 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:8pt;margin-left:0pt;' &gt;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.&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:8pt;margin-left:0pt;' &gt;The &amp;quot;theoretical shares&amp;quot; al&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;located to non-executive directors who are beneficiaries of the remuneration system in shares with deferred delivery in financial year 2019, corresponding to 20% of the total remuneration in cash received by each of them in financial year 2018, are as foll&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ows:&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:34.5pt;' &gt;&lt;td style='width:177pt;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;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:#244061;' &gt;Theoretical shares allocated in 2019&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:#244061;' &gt;Theoretical shares accumulated as at 31 December 2019&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Tom&amp;#225;s Alfaro Drake&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:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;10,138&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:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;93,587&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Jos&amp;#233; Miguel Andr&amp;#233;s Torrecillas&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:9pt;color:#000000;' &gt;19,095&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:9pt;color:#000000;' &gt;55,660&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Jaime Caruana Lacorte&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:9pt;color:#000000;' &gt;9,320&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:9pt;color:#000000;' &gt;9,320&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Bel&amp;#233;n Garijo L&amp;#243;pez&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:9pt;color:#000000;' &gt;12,887&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:9pt;color:#000000;' &gt;47,528&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Sunir Kumar Kapoor&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:9pt;color:#000000;' &gt;6,750&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:9pt;color:#000000;' &gt;15,726&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Carlos Loring Mart&amp;#237;nez de Irujo&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:9pt;color:#000000;' &gt;17,515&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:9pt;color:#000000;' &gt;116,391&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Lourdes M&amp;#225;iz Carro&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:9pt;color:#000000;' &gt;11,160&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:9pt;color:#000000;' &gt;34,320&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Jos&amp;#233; Maldonado Ramos&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:9pt;color:#000000;' &gt;15,328&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:9pt;color:#000000;' &gt;94,323&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Ana Peralta Moreno&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:9pt;color:#000000;' &gt;5,624&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:9pt;color:#000000;' &gt;5,624&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Juan Pi Llorens&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:9pt;color:#000000;' &gt;17,970&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:9pt;color:#000000;' &gt;72,141&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Susana Rodr&amp;#237;guez Vidarte&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:9pt;color:#000000;' &gt;17,431&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:9pt;color:#000000;' &gt;122,414&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;border-bottom-style:solid;border-bottom-width:1;text-align:justify;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:9pt;color:#000000;' &gt;Jan Verplancke&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:9pt;color:#000000;' &gt;5,203&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:9pt;color:#000000;' &gt;5,203&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:justify;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:177pt;' &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: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:#5AC4C4;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;148,421&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:#5AC4C4;border-color:Black;min-width:98.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;672,237&lt;/font&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:9pt;font-weight:bold;margin-left:0pt;color:#002060;' &gt;Pension commitments with directors 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:8pt;margin-left:0pt;' &gt;The Bank has not made pension commitments with non-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:8pt;margin-left:0pt;' &gt;With regard to the Group Executive Chairman, the Remuneration Policy for BBVA Directors establishes&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; a pension framework whereby he is eligible, provided that he does not leave his position as a result of a serious breach of duties, to receive a retirement pension, paid in either income or capital, when he reaches the legally established retirement age. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The amount of this pension will be determined by the annual contributions made by the Bank, together with their corresponding accumulated yields as of 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:8pt;margin-left:0pt;' &gt;The annual contribution to cover the retirement contingency in the Group Executive Chairman&amp;#39;s &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;defined-contribution system, as established in the Remuneration Policy for BBVA Directors, was determined as a result of the conversion of his previous defined-benefit rights into a defined-contribution system, in the annual amount of &amp;#8364;1,642 thousand. The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Board of Directors may update this amount during the term of the Policy, in the same way and under the same terms as it may update the Annual Fixed 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:8pt;margin-left:0pt;' &gt;15% of the aforementioned agreed annual contribution will be based on variable components and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;considered &amp;quot;discretionary pension benefits&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 ap&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;plicable in accordance with 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:8pt;margin-left:0pt;' &gt;In the event the contractual relationship terminates before reaching retirement age for reasons other than serious breach of duties, the retirement pension due to the Group Executive C&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;hairman upon reaching the legally established retirement age will be calculated based on the funds accumulated through the contributions made by the Bank under the terms set out, up to that date, plus the corresponding accumulated yield, with no additional&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; contributions to be made by the Bank in any event 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:8pt;margin-left:0pt;' &gt;With respect to the commitments to cover the contingencies for death and disability benefits for the Group Executive Chairman, the Bank will undertake the payment of the corre&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sponding annual insurance premiums in order to top up the coverage of these contingencies.&lt;/font&gt;&lt;/p&gt;&lt;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;In line with the above, during the 2019 financial year, &amp;#8364;1,919 thousand were recorded to meet the pension commitments for the Chairman. This amount includes the cont&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ribution to the retirement contingency (&amp;#8364;1,642 thousand) and the payment of premiums for the death and disability contingencies (&amp;#8364;278 thousand), as well as the negative adjustment of &amp;#8364;1 thousand for &amp;#8220;discretionary pension benefits&amp;#8221; for the 2018 financial y&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ear, which were declared at 2018 year-end and had to be registered in the accumulated fund in 2019.&lt;/font&gt;&lt;/p&gt;&lt;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;As of 31 December 2019, the total accumulated amount of the fund to meet the retirement commitments for the Group Executive Chairman was &amp;#8364;21,582 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:8pt;margin-left:0pt;' &gt;With regard to the agreed annual contribution to the retirement contingency corresponding to the 2019 financial year, 15% (&amp;#8364;246 thousand) has been registered in that financial year as &amp;quot;discretionary pension benefits&amp;quot;. Following year-end 2019, this amount h&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;as been adjusted according to the criteria established to determine the Group Executive Chairman&amp;#39;s Annual Variable Remuneration for 2019. Accordingly, the &amp;quot;discretionary pension benefits&amp;quot; for the 2019 financial year have been determined in an amount of &amp;#8364;26&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;1 thousand, which will be included in the accumulated fund for financial year 2020, subject to the same conditions as the Deferred Portion of the Annual Variable Remuneration for financial year 2019, as well as to the remaining conditions established for t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;hese benefits in the Remuneration Policy for BBVA 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:8pt;margin-left:0pt;' &gt;With regard to the Chief Executive Officer, in accordance with the provisions of the current Remuneration Policy for BBVA Directors and his contract, the Bank has not made any retirement commitme&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nts, although he is entitled to an annual cash sum instead of a retirement pension (cash in lieu of pension), equivalent to 30% of his Annual Fixed Remuneration. The Bank has also made pension commitments to cover the death and disability contingencies, fo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;r which purpose the corresponding annual insurance premiums will be paid.&lt;/font&gt;&lt;/p&gt;&lt;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;In accordance with the above, in the 2019 financial year the Bank has paid the Chief Executive Officer the amount of fixed remuneration as cash in lieu of pension set out in the &amp;#8220;Rem&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;uneration received by executive directors in 2019&amp;#8221; section of this Note. Furthermore, &amp;#8364;141 thousand were recorded for the payment of the annual insurance premiums to cover the death and disability contingencies.&lt;/font&gt;&lt;/p&gt;&lt;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;For the executive director Head of GE&amp;amp;PA, th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e pension system provided for in the Remuneration Policy for BBVA Directors establishes an annual contribution of 30% of the Head of GE&amp;amp;PA&amp;#39;s Annual Fixed Remuneration to cover the retirement contingency. 15% of the aforementioned agreed annual contribution&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 the applicable regulations, as well as any other conditions conce&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rning variable remuneration that may be applicable in accordance with the 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:8pt;margin-left:0pt;' &gt;The executive director Head of GE&amp;amp;PA, upon reaching retirement age, will be entitled to receive, in the form of capital or income, the benefits arising from contributions mad&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e by the Bank to cover pension commitments, plus the corresponding yield accumulated up to that date, provided the executive director Head of GE&amp;amp;PA does not leave said position due to serious breach of duties. In the event of voluntary termination of the c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ontractual relationship by the director before retirement, the benefits will be limited to 50% of the contributions made by the Bank up to that date, together with the corresponding accumulated yield, with no additional contributions to be made by the Bank&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; in any event upon 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:8pt;margin-left:0pt;' &gt;With respect to the commitments to cover the contingencies for death and disability benefits for the executive director Head of GE&amp;amp;PA, the Bank will undertake the payment of the corresponding &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;annual insurance premiums in order to top up the coverage under their pension 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:8pt;margin-left:0pt;' &gt;In line with the above, during the 2019 financial year, &amp;#8364;404 thousand have been recorded to meet the pension commitments for the executive director Head of GE&amp;amp;PA. This am&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ount includes the contribution to the retirement contingency (&amp;#8364;250 thousand) and the payment of premiums to cover the death and disability contingencies (&amp;#8364;150 thousand), as well as &amp;#8364;4 thousand corresponding to the adjustment made to the amount of &amp;quot;discreti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;onary pension benefits&amp;quot; for financial year 2018, as declared at 2018 year-end and which had to be registered in the accumulated fund in 2019.&lt;/font&gt;&lt;/p&gt;&lt;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;As of 31 December 2019, the total accumulated amount of the fund to meet the retirement commitments for the execut&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ive director Head of GE&amp;amp;PA amounts to &amp;#8364;1,404 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:8pt;margin-left:0pt;' &gt;With regard to the annual contribution agreed for the retirement contingency, 15% (&amp;#8364;38 thousand) has been registered in 2019 as &amp;quot;discretionary pension benefits&amp;quot; and, following year-end 2019, this amoun&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t has been adjusted according to the criteria established to determine the executive director Head of GE&amp;amp;PA&amp;#39;s Annual Variable Remuneration for 2019. Accordingly, the &amp;quot;discretionary pension benefits&amp;quot; for the financial year have been determined in an amount &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;of &amp;#8364;40 thousand, which will be included in the accumulated fund for financial year 2020, subject to the same conditions as the Deferred Portion of the Annual Variable Remuneration for financial year 2019, as well as the remaining conditions established for&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:8pt;margin-left:0pt;' &gt;In addition, during the 2019 financial year, &amp;#8364;3,281 thousand have been recorded to meet the pension commitments for members of the Senior Management (15 members holding that position as of 31 D&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ecember 2019, excluding executive directors). This amount includes both the contribution to the retirement contingency (&amp;#8364;2,656 thousand) and the payment of premiums to cover the death and disability contingencies (&amp;#8364;627 thousand), as well as the negative ad&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;justment of &amp;#8364;2 thousand for &amp;#8220;discretionary pension benefits&amp;#8221; for the 2018 financial year, as declared at 2018 year-end, and which had to be registered in the accumulated fund in 2019.&lt;/font&gt;&lt;/p&gt;&lt;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;At 31 December 2019, the total accumulated amount of the fund to meet th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e retirement commitments for members of the Senior Management amounts to &amp;#8364;20,287 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:8pt;margin-left:0pt;' &gt;15% of the agreed annual contributions for members of the Senior Management to cover retirement contingencies will be based on variable components and considered &amp;quot;di&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;scretionary pension benefits&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 ac&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;cordance with the remuneration policy applicable to members 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:8pt;margin-left:0pt;' &gt;Accordingly, with regard to the agreed annual contribution for the retirement contingency registered in the 2019 financial year, an amount of &amp;#8364;389 thousand has been &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;registered as &amp;quot;discretionary pension benefits&amp;quot; during the 2019 financial year and, following year-end 2019, this amount has been adjusted according to the same criteria established to determine the Senior Management&amp;#39;s Annual Variable Remuneration for 2019.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; Accordingly, the &amp;quot;discretionary pension benefits&amp;quot; for members of the Senior Management for the financial year have been determined in an amount of &amp;#8364;402 thousand, which will be included in the accumulated fund for financial year 2020, subject to the same c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;onditions as the Deferred Portion of Annual Variable Remuneration for financial year 2019, as well as the remaining conditions established for these benefits in the remuneration policy applicable to members of the Senior Management.&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;font-weight:bold;margin-left:0pt;color:#002060;' &gt;Payments for the termin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#002060;' &gt;ation 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:8pt;margin-left:0pt;' &gt;In accordance with the Remuneration Policy for BBVA Directors, the Bank has no commitments regarding severance payments to executive 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:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;With regard to Senior Management, excluding executive directors, the Bank &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;has paid out a total of &amp;#8364;8,368 thousand during financial year 2019, resulting from the termination of the contractual relationship with four senior managers with an average length of service in the Group of 25 years, in execution of their contracts. These &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;contracts include the right to receive the relevant legal indemnity, provided that termination of their contract is not due to voluntary leave, retirement, disability or serious breach of their duties. The amount of this pay will be calculated in accordanc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e with the provisions of applicable labor regulations. In some cases, the contracts also include the right to an amount additional to the legal indemnity, which will be considered variable remuneration in accordance with the solvency regulations that apply&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; to this group, as well as notice clauses.&lt;/font&gt;&lt;/p&gt;&lt;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;In line with the above, as of 31 December 2019, &amp;#8364;1,199 thousand is pending payment and will be paid, if conditions are met, in accordance with the same schedule and regulations of the settlement and payment system&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; applicable to the Annual Variable Remuneration for financial year 2019, as established in the remuneration policy applicable to the 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:8pt;margin-left:0pt;' &gt;All these payments comply with the conditions set out in the regulations applicable to the gr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;oup of employees with a material impact on the Group&amp;#39;s risk profile, to which senior managers belong.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory>
  <ifrs-full:DisclosureOfAdditionalInformationExplanatory id="ID_10085" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;55. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:11pt;font-weight:bold;color:#072146;' &gt;  Other information&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Environmental impact&lt;/font&gt;&lt;/p&gt;&lt;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;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:8pt;' &gt;equity, financial situation and profits. Consequently, as of December 31, 2019, there is no item included that requires disclosure in an environmental information report pursuant to Ministry JUS/318/2018, of March 21, by which the new model for the present&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ation in the Commercial Register of the consolidated annual accounts of the subjects obliged to its publication is approved.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DisclosureOfAdditionalInformationExplanatory>
  <ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale id="ID_10086" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CarryingamountaccumulateddepreciationamortisationandimpairmentandgrosscarryingaxisAxis_ifrs-full_CarryingAmountMember_bbva_ChangesintheyearnoncurrentassetsanddisposalgroupsclassifiedasheldforsaleAxis_bbva_ForeclosuresMember" unitRef="EUR" decimals="INF">4057000000</ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale>
  <ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale id="ID_10087" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CarryingamountaccumulateddepreciationamortisationandimpairmentandgrosscarryingaxisAxis_ifrs-full_AccumulatedImpairmentMember_bbva_ChangesintheyearnoncurrentassetsanddisposalgroupsclassifiedasheldforsaleAxis_bbva_ForeclosuresMember" unitRef="EUR" decimals="INF">1237000000</ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale>
  <ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale id="ID_10088" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CarryingamountaccumulateddepreciationamortisationandimpairmentandgrosscarryingaxisAxis_ifrs-full_CarryingAmountMember_bbva_ChangesintheyearnoncurrentassetsanddisposalgroupsclassifiedasheldforsaleAxis_bbva_RecoveriesfromfinancialleasesMember" unitRef="EUR" decimals="INF">168000000</ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale>
  <ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale id="ID_10089" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CarryingamountaccumulateddepreciationamortisationandimpairmentandgrosscarryingaxisAxis_ifrs-full_AccumulatedImpairmentMember_bbva_ChangesintheyearnoncurrentassetsanddisposalgroupsclassifiedasheldforsaleAxis_bbva_RecoveriesfromfinancialleasesMember" unitRef="EUR" decimals="INF">47000000</ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale>
  <ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale id="ID_10090" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CarryingamountaccumulateddepreciationamortisationandimpairmentandgrosscarryingaxisAxis_ifrs-full_CarryingAmountMember_bbva_ChangesintheyearnoncurrentassetsanddisposalgroupsclassifiedasheldforsaleAxis_bbva_ForOwnUseMember" unitRef="EUR" decimals="INF">1065000000</ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale>
  <ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale id="ID_10091" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CarryingamountaccumulateddepreciationamortisationandimpairmentandgrosscarryingaxisAxis_ifrs-full_AccumulatedImpairmentMember_bbva_ChangesintheyearnoncurrentassetsanddisposalgroupsclassifiedasheldforsaleAxis_bbva_ForOwnUseMember" unitRef="EUR" decimals="INF">443000000</ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale>
  <ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale id="ID_10092" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CarryingamountaccumulateddepreciationamortisationandimpairmentandgrosscarryingaxisAxis_ifrs-full_CarryingAmountMember_bbva_ChangesintheyearnoncurrentassetsanddisposalgroupsclassifiedasheldforsaleAxis_ifrs-full_OtherAssetsMember" unitRef="EUR" decimals="INF">40000000</ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale>
  <ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale id="ID_10093" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CarryingamountaccumulateddepreciationamortisationandimpairmentandgrosscarryingaxisAxis_ifrs-full_AccumulatedImpairmentMember_bbva_ChangesintheyearnoncurrentassetsanddisposalgroupsclassifiedasheldforsaleAxis_ifrs-full_OtherAssetsMember" unitRef="EUR" decimals="INF">0</ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale>
  <ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale id="ID_10094" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CarryingamountaccumulateddepreciationamortisationandimpairmentandgrosscarryingaxisAxis_ifrs-full_CarryingAmountMember_bbva_ChangesintheyearnoncurrentassetsanddisposalgroupsclassifiedasheldforsaleAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">5330000000</ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale>
  <ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale id="ID_10095" contextRef="AS_OF_Dec31_2016_Entity_0000842180_bbva_CarryingamountaccumulateddepreciationamortisationandimpairmentandgrosscarryingaxisAxis_ifrs-full_AccumulatedImpairmentMember_bbva_ChangesintheyearnoncurrentassetsanddisposalgroupsclassifiedasheldforsaleAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">1727000000</ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale>
  <bbva:Tableofsubordinatedliabilitiesatamortizedcost id="ID_10096" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:408.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:408.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Memorandum item: Subordinated liabilities at amortized cost &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;384&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;411&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;427&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Subordinated certificates &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17,635&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17,635&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16,889&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Preferred stock&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;159&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;181&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:12.75pt;' &gt;&lt;td style='width:224.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Compound convertible financial instruments &lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,782&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,363&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,585&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:224.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other non-convertible subordinated liabilities (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,693&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,092&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10,143&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:224.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:224.25pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;18,018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;18,047&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;17,316&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofsubordinatedliabilitiesatamortizedcost>
  <bbva:Tableofmaturityofliabilitiesbylease id="ID_10097" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:11.25pt;' &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:#02A5A5;' &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:240pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:240pt;' &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:40.5pt;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:40.5pt;' &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:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Up to 1 year&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;1 to 3 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;3 to 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Over 5 years&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:240pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:240pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Leases&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;269&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;500&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;535&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,031&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,335&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Tableofmaturityofliabilitiesbylease>
  <bbva:Maturityofliabilitiesbylease id="ID_10098" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_MaturityofliabilitiesaxisAxis_bbva_LessthanayearMember" unitRef="EUR" decimals="INF">269000000</bbva:Maturityofliabilitiesbylease>
  <bbva:Maturityofliabilitiesbylease id="ID_10099" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_MaturityofliabilitiesaxisAxis_bbva_OneyeartothreeyearsMember" unitRef="EUR" decimals="INF">500000000</bbva:Maturityofliabilitiesbylease>
  <bbva:Maturityofliabilitiesbylease id="ID_10100" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_MaturityofliabilitiesaxisAxis_bbva_ThreeyearstofiveyearsMember" unitRef="EUR" decimals="INF">535000000</bbva:Maturityofliabilitiesbylease>
  <bbva:Maturityofliabilitiesbylease id="ID_10101" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_MaturityofliabilitiesaxisAxis_bbva_MorethanfiveyearsMember" unitRef="EUR" decimals="INF">2031000000</bbva:Maturityofliabilitiesbylease>
  <bbva:Maturityofliabilitiesbylease id="ID_10102" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_MaturityofliabilitiesaxisAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">3335000000</bbva:Maturityofliabilitiesbylease>
  <bbva:Disclosureofdepositsfromcustomersbygeographicalareaandinstrumentexplanatory id="ID_10103" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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: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:#5AC4C4;' &gt;Customer deposits. December 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:40.5pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Time deposits &amp;amp; other (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;146,651&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;24,958&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;171,611&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46,372&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19,810&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;66,181&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;43,326&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12,714&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;523&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56,564&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,775&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,257&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36,042&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;22,748&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,913&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36,661&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,610&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;8,749&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15,360&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;909&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;892&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,801&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:156pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;280,391&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;103,293&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;535&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;384,219&lt;/font&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: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:#02A5A5;' &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:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Time deposits and other (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;770&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;429&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:156pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:82.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;831&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:156pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:82.5pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:82.5pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:82.5pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:82.5pt;' &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:471pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:471pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#5AC4C4;' &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:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Demand deposits&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Time deposits &amp;amp; other (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Repurchase agreements&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;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:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:156pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;152&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:156pt;' &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:78.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:78.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:78.75pt;' &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:156pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:156pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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:78.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:78.75pt;' &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;</bbva:Disclosureofdepositsfromcustomersbygeographicalareaandinstrumentexplanatory>
  <bbva:Fixedremuneration id="ID_10104" contextRef="AS_OF_Dec31_2019_Entity_0000842180_bbva_RemunerationandotherbenefitsreceivedAxis_bbva_TotalMember_bbva_TypeofcomiteeconceptAxis_bbva_ExecutivedirectorsMember_bbva_TypeofremunerationaxisAxis_bbva_IncashMember" unitRef="EUR" decimals="INF">5466000000</bbva:Fixedremuneration>
  <ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory id="ID_10105" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:10pt;font-weight:bold;color:#004580;' &gt;Accounting policies and valuation criteria 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:8pt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;criteria and comply with the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;IFRS&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;-IASB&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The accounting standards and policie&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s and valuation criteria used in preparing the accompanying Consolidated Financial Statements are as follows:&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.1   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;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:8pt;margin-left:0pt;' &gt;IFRS 9 became effective as of January 1, 2018 and replaced IAS 39 regarding the classification and measurement of fi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nancial assets and liabilities, the impairment of financial assets and hedge accounting. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Currently&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, the Group has elected &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;to continue&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the application of IAS 39 for hedge accounting, as permitted by IFRS 9. The disclosures for the financial year 2017 relate&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d to the measurement of financial assets and liabilities, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;definition of impaired financial assets, and the method for calculating the impairment on financial assets, which are presented for the purpose of comparability, are based on the accounting &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;policies and valuation criteria applicable under IAS 39.&lt;/font&gt;&lt;/p&gt;&lt;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;The main aspects regarding IAS 39, applicable until December 31, 2017, 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:8pt;margin-left:0pt;color:#004580;' &gt;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:8pt;margin-left:0pt;' &gt;IAS 39 established the following three categories for the recognition of fi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nancial assets, not applicable under IFRS 9, valued as follows:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&amp;#8220;Available-for-sale financial assets&amp;#8221;: Assets recognized under this heading were measured at their fair value. Subsequent changes in fair value (gains or losses) were recognized temporarily ne&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;t of tax effect, under the heading &amp;#8220;Accumulated other comprehensive income- Items that may be reclassified to profit or loss -Available-for-sale financial assets&amp;#8221;.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&amp;#8220;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and receivables&amp;#8221; and &amp;#8220;Held-to-maturity investments&amp;#8221;: Assets and liabilities recognized under these headings were subsequently measured at &amp;#8220;amortized cost&amp;#8221; using the &amp;#8220;effective interest rate&amp;#8221; method. This was because the consolidated entities generally intend to hold such fin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ancial instruments to maturity.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity instruments whose fair valu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;e could not be determined in a sufficiently objective manner and financial derivatives that have those&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; instruments as their underlying asset and are settled by delivery of those instruments were recorded at acquisition cost; adjusted, where appropriate, fo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;r any impairment loss.&lt;/font&gt;&lt;/span&gt;&lt;/p&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:8pt;margin-left:0pt;color:#004580;' &gt;Impairment losses on 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:8pt;margin-left:0pt;' &gt;The method for calculating the impairment of financial assets under IAS 39 was based on incurred losses; impairment losses were recognized only if there was objective evidence of impairment. In &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;other words, an event of a loss had to occur after initial recognition, so that the impairment loss could have been recognized.&lt;/font&gt;&lt;/p&gt;&lt;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;First, the Group would determine whether there was objective evidence of impairment individually for individually significant de&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;bt instrument&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, and collectively for debt instrument&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; that were not individually significant. If the Group determined that there was no objective evidence of impairment, the assets were classified in groups of debt instrument&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; based on similar risk charact&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;eristics and impairment was 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:8pt;margin-left:0pt;' &gt;The impairment on financial assets was determined by type of instrument and other circumstances that could have affected it, taking into account the guarantees received to assure (in part or in full) the p&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;erfo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rmance of the 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:8pt;margin-left:0pt;' &gt;The information used under such model was past information, adjusted in order to reflect the effect of the conditions in such reporting period, which did not affect the period matching past information, and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;avoid&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the eff&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ect of the conditions that did not exist. The model did not allow the use of prospective 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:8pt;margin-left:0pt;' &gt;In the case of equity instruments classified as available for sale, valued at fair value, when there was objective evidence that the negative differences &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;that arose on measurement of these equity instruments were due to impairment, they were no longer registered as &amp;#8220;Accumulated other comprehensive income - Items that may be reclassified to profit or loss - Available-for-sale financial assets&amp;#8221; and were recog&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nized in the consolidated income statement. In general, the Group considered that there was objective evidence of impairment on equity instruments classified as available-for-sale when significant unrealized losses had existed over a sustained period of ti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;me due to a price reduction of at least 40% or over a period of more than 18 months. When applying this evidence of impairment, the Group took into account the volatility in the price of each individual equity instrument to determine whether it was a perce&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ntage that could be recovered through its sale in the market; other different thresholds could have existed for certain equity instruments or specific sectors. In addition, for individually significant investments, the Group compared the valuation of the m&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ost 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:8pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Classification and measurement &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt;of financial assets&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:8pt;margin-left:0pt;color:#004580;' &gt;Classification of financial assets&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:8pt;margin-left:0pt;' &gt;IFRS 9 contains three main categories for financial assets classification: &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;measured at amortized cost, measured at fair value with changes through other 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:8pt;margin-left:0pt;' &gt;The classification of financial assets measured at amortized cost or fair value must be carried out on th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e basis of two tests: the entity&amp;#39;s business model and the assessment of the contractual 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:8pt;margin-left:0pt;color:#000000;' &gt;A debt instrument will be classified in the amortized co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;st portfolio if &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the two following conditions are fulfilled:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The financial asset is managed within a business model whose purpose is to maintain the financial assets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;to maturity, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;to receive &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;contractual&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; cash flows; and&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;In accordance with the contractual &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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&amp;#39;s credit risk.&lt;/font&gt;&lt;/span&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:8pt;margin-left:0pt;' &gt;A debt instrument will be classified in the portfolio &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;of financial assets at fair value with changes through other comprehensive income if the two following conditions are fulfilled:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The financial asset is managed with a business model whose purpose combines collection of the contractual cash flows and sale o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;f the assets, and&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The contractual characteristics of the instrument generate cash flows which only represent the return of the principal and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;interest&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;.&lt;/font&gt;&lt;/span&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:8pt;margin-left:0pt;' &gt;A debt instrument will be classified at fair value with changes in profit and loss provided that the enti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ty&amp;#39;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.&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:8pt;margin-left:0pt;' &gt;In general, equity instruments will be measured at fair value through profit or loss. Ho&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;wever the Group may make an irrevocable election&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; at initial recognition to present subsequent changes in the fair value through &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8220;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;other comprehensive income&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8221;&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:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Financial assets will only be reclassified when BBVA Group decides to change the business model. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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.&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:8pt;margin-left:0pt;color:#004580;' &gt;Measurement&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt; of financial assets&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:8pt;margin-left:0pt;' &gt;All financial &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;instruments are initial&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ly recognized at fair value, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;plu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; those transaction costs which are directly attributable to the issue of the particular instrument for those cases in which financial assets are not classified at fai&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;r 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:8pt;margin-left:0pt;' &gt;Ex&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;cluding all 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 other income&amp;#8221; or &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8220;Interest expense&amp;#8221;, as appropriate, in the accompanying consolidated income statement in the period in which the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:8pt;margin-left:0pt;' &gt;The changes in fair value after the initial recognition, for reasons other than those mentioned in the preceding&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; paragraph, are treated as described below, according to the categories of financial assets.&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:8pt;margin-left:0pt;color:#004580;' &gt;&amp;#8220;Financial assets 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt;value through profit or loss&amp;#8221;&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:8pt;margin-left:0pt;color:#000000;' &gt;Financial assets are recorded under the heading &amp;#8220;Financial assets held for trading&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. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The financial assets recorded in the heading &amp;#8220;Non-trading financial assets mandatorily at fair value through profit and loss&amp;#8221; are assigned to a business model which objective is to obtain&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; the contractual cash flows and / &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;or to sell those instruments but it&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;s contractual cash flows do not comply with the requirements of the SPPI test. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial assets are classified in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&amp;#8220;Financial assets designated at fair value through profit or loss&amp;#8221; only if it eliminates or significantly reduces a measuremen&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;t or recognition inconsistency&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; (an &amp;#8216;accounting mismatch&amp;#8217;)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; that would otherwise arise from measuring financial assets or financial liabilities, or recognizing gains or loss&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;es 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:8pt;margin-left:0pt;color:#000000;' &gt;The assets recognized under these headings of the consolidated &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;balance sheet are measured upon acquisition at fair value and changes in the fair value (gains or losses) are recognized as their net value under the headings &amp;#8220;Gains (losses) on financial assets and liabilities held for trading, net&amp;#8221;, &amp;#8220;Gains (losses) on no&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;n-trading financial assets mandatorily at fair value through profit and loss, net&amp;#8221; and &amp;#8220;Gains (losses) on financial assets designated at fair value through profit or loss, net&amp;#8221; in the accompanyi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ng consolidated income statement &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; (see Note 41). &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;C&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;hanges in fa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ir value resulting from variations in foreign exchange rates are recognized under the heading Gains (losses) on financial assets and liabilities, net in the accompanying consolidated income statements (Note 41).&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:8pt;margin-left:0pt;color:#004580;' &gt;&amp;#8221;Financial assets at fair value through othe&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt;r comprehensive income&amp;#8221;&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Debt &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;instruments&lt;/font&gt;&lt;/span&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:8pt;margin-left:0pt;color:#000000;' &gt;Assets recognized under this heading in the consolidated balance sheets are measured at their fair value.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; This category of valuation implies the recognition of the information in the income statement as if it were an instrument valued at amortized cost, while the instrument is valued at fair value in the balance sheet. Thus, both the interests of these instruments and the exchange differences and impairment that arise in their case are recorded in the profit and loss account, while s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ubsequent changes in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;its &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;fair value (gains or losses) are recognized temporarily&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(by the amount&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; net of tax effect&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; under the head&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ing &amp;#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&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:8pt;margin-left:0pt;color:#000000;' &gt;The amounts &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;recognized under the headings &amp;#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&amp;#8221; continue to form part of the Group&amp;#39;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; consolidated equity until the corresponding asset is derecognized from the consolidated balance sheet or until a loss allowance is recognized on the corresponding financial instrument. If these assets are sold, these amounts are derecognized and included &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;under the headings &amp;#8220;Gains (losses) on financial assets and liabilities, net&amp;#8221; (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:8pt;margin-left:0pt;color:#000000;' &gt;The net &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;loss allowances&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; in &amp;#8220;Financial assets at fair value through other comprehensive income&amp;#8221; over the year are recognized under the heading &amp;#8220;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loss&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; allowances&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; on fi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;nancial assets, net &amp;#8211; Financial assets at fair value through other comprehensive income&amp;#8221; (see Note 47) in the consolidated income statement 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:8pt;margin-left:0pt;color:#000000;' &gt;Interests of th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ese&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; instruments &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;are recorded in the consolidated profit and loss account (see Note 37). &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Changes in foreign exchange rates 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;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;instruments&lt;/font&gt;&lt;/span&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:8pt;margin-left:0pt;color:#000000;' &gt;The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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 instru&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ment-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 instruments &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;measured at fair value through other comprehensive income&amp;#8221;.&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:8pt;margin-left:0pt;color:#004580;' &gt;&amp;#8220;Financial assets at amortized cost&amp;#8221;&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:8pt;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:8pt;margin-left:0pt;color:#000000;' &gt;Net &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;loss allowances&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; of assets recorded under these headings arising in each 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) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;in the consolidated income statement for that period.&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:8pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Classification and measurement of financial liabilities &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:8pt;margin-left:0pt;color:#004580;' &gt;Classification of financial liabilities&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:8pt;margin-left:0pt;color:#000000;' &gt;Under IFRS 9, financial liabilities are classified in the following categories:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial liabilities at &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;amortized cost;&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financial liabilities that are held for trading&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; including derivatives&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; 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;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Financi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;al 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; on &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;initial&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; moment of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; recognition&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; a financial liability as at fair value thro&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ugh 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, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;and its performance evaluated, on a fair value basis in accordance with a documented risk management or investment strategy.&lt;/font&gt;&lt;/span&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:8pt;margin-left:0pt;color:#004580;' &gt;Measurement&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt; of financial liabilities&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:8pt;margin-left:0pt;' &gt;All financial instruments are initially recognized at fair value &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;except&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; for those transaction costs which are directly attributable to the issue of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;particular &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;financial liability, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;for those cases in which financial &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;liabilities are not classified at fai&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;r 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:8pt;margin-left:0pt;' &gt;Excluding all trading derivatives not c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;onsidered 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 other income&amp;#8221; or &amp;#8220;Interest expense&amp;#8221;, as approp&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;riate, 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:8pt;margin-left:0pt;' &gt;The changes in fair value after the initial recognition, for reasons other than those mentioned in the preceding paragraph, are treated as de&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;scribed below, according to the categories of financial liabilities.&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:8pt;margin-left:0pt;color:#004580;' &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;p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The subsequent changes in the fair value (gains or losses) of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;liabilities recognized under these headings of the consolidated balance sheets are recognized as their net value under the headings &amp;#8220;Gains (losses) on financial assets and liabilities held for trading, net&amp;#8221; and &amp;#8220;Gains (losses) on financial assets and liabi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lities designated at fair value through profit or loss, net&amp;#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 a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;mount of change in the fair value that is attributable to changes in the own credit 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;financial liabilities at fair value through profit or loss attributable to changes in their &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;credit risk&amp;#8221;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;. However, changes in fair value resulting from variations in foreign exchange rates are recognized under the heading Gains (losses) on financial assets&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and liabilities, net in the accompanying consolidated income statements (Note 41).&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:8pt;margin-left:0pt;color:#004580;' &gt;&amp;#8220;Financial liabilities at amortized cost&amp;#8221;&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:8pt;margin-left:0pt;color:#000000;' &gt;The liabilities under this category are subsequently measured at amortized cost, using the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&amp;#8220;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;effective interest rate&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&amp;#8221;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; method.&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:8pt;font-weight:bold;margin-left:0pt;color:#094FA4;' &gt;&amp;#8220;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt;Derivatives-Hedge Accounting&amp;#8221; and &amp;#8220;Fair value changes of the hedged items in portfolio hedges of interest-rate risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&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:8pt;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:8pt;color:#7F7F7F;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;margin-left:0pt;' &gt;Changes &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;In fair value &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;hedges, the changes in the fair value of the derivative and the hedged item attributable to the hedged risk are recogniz&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ed under the heading &amp;#8220;Gains (l&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;osses&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; from hedge accounting, net&amp;#8221; in the consolidated income statement, with a &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;corresponding&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; offset under&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; the headings where hedging items (&amp;quot;Hedging derivatives&amp;quot;) and the hedged items are recognized, as applicable&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;, except for interest-rate risks hedges (which are a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;lmost all of the hedges used by the Group&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;, for&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; which &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;the valuation changes are recognized under&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; 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 (see Note 37).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;In fair value hedges of interest rate risk of a portfolio of financial instruments (portfolio-hedges), the gai&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ns or losses that arise in the measurement of the hedging instrument are recognized in the consolidated income statement, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;with counterpart on the headings &amp;#8220;Derivatives-Hedge Accounting&amp;#8221; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;and the gains or losses that arise from the change in the fair value o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;f the hedged item (attributable to the hedged risk) are also recognized in the consolidated income statement (in both ca&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ses under the heading &amp;#8220;Gains (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;losses&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; from hedge accounting, net&amp;#8221;, using, as a balancing item, the headings &amp;quot;Fair value changes of the h&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;edged items in portfolio hedges of interest rate risk&amp;quot; in the consolidated balance sheets, as applicable).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;In cash flow hedges, the gain or loss on the hedging instruments relating to the effective portion are recognized temporarily under the heading &amp;#8221;Accu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;mulated 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 balancing entry under the heading &amp;#8220;Hedging derivatives&amp;#8221; of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Assets&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; or Liabilities o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;f the consolidated balance sheets as applicable. These differences are recognized &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;under&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;headings &amp;#8220;Interest and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;other income&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&amp;#8221; or &amp;#8220;Interest expense&amp;#8221;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; at the time when the gain or loss in the hedged instrument affects profit or loss, when the forecast tran&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;saction is executed or at the maturity date of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; the hedged item (see Note 37).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Differences in the measurement of the hedging items corresponding to the ineffective portions of cash flow hedges are recognized di&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;rectly &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; the heading &amp;#8220;Gains (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;losses&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; from hedge accounting, net&amp;#8221; in the consolidated income statement (see Note 41).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;In the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;hedges&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; of net investments in foreign operations, the differences attributable to the effective portions of hedging items are recognized temporarily under the heading &amp;quot;A&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ccumulated other comprehensive income - Items that may be reclassified to profit or loss &amp;#8211; Hedging of net investments in foreign transactions&amp;quot; in the consolidated balance sheets with a balancing entry under the heading &amp;#8220;Hedging derivatives&amp;#8221; of the Assets o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;r Liabilities of the consolidated balance sheets as applicable. These differences in valuation are recognized under the heading &amp;#8220;Exchange differences, net&amp;quot; in the consolidated income statement when the investment in a foreign operation is disposed of or de&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;recognized (see Note 41).&lt;/font&gt;&lt;/span&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:8pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Loss&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt; allowances&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt; on financial assets&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:8pt;margin-left:0pt;color:#004580;' &gt;Definition of impaired 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:8pt;margin-left:0pt;' &gt;The impairment model is applied to financial assets valued at amortized cost and to financial assets valued at fair value with changes in accumulated &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;other comprehensive 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:8pt;' &gt;unilaterally revocable by BBVA. Likewise, all the financial instruments valued at fair value with change through profit and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; loss are excluded from the impairment model&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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).&lt;/font&gt;&lt;/p&gt;&lt;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;The c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;alculation 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 ex&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;pected 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: &lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Expected &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;loss&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; at 12 months: expected credit loss that arises from possible default events within 12 months following the presentation date of the financial statements; and&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Expected &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;loss&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; during the life of the transaction: this is the expected credit loss that arises fr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;om all possible default events over the remaining life of the financial instrument.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;losses, which must be carried out o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n a weighted probability 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:8pt;margin-left:0pt;' &gt;The BBVA Group has applied the following definitions:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:14.2pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.45pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Default&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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:21.3pt;' &gt;BBVA has applied a definition of default for financial instruments that is consistent with that used in internal credit risk ma&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nagement, as well as the indicators under applicable regulation. 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:8pt;margin-left:21.3pt;' &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='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Payment past-due for more than 90 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;days; or&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;there are reasonable doubts regarding the full reimbursement of the instrument.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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:21.3pt;' &gt;In accordance w&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ith 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. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;As of December 31, 201&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;9&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, the Group has not considered &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;periods higher than 90 days for any&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of the significant portfolios.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:14.2pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.45pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Credit impaired asset&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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:21.3pt;' &gt;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.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; Evidence that a financial asset is credit-impaired includes observable data about the following events:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Significant financial difficulty of the issuer or the borrower,&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; breach of contract (e.g. a default or past due event),&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; 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 otherwise consider,&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;I&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;t becoming probable that the borrower will enter bankruptcy or other financial reorganization,&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;T&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;he disappearance of an active market for that financial asset because of financial difficulties, or&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;T&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;he purchase or origination of a financial asset at a deep discount that refl&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ects the incurred credit losses.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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:21.3pt;' &gt;It may not be possi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ble 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:8pt;margin-left:21.3pt;' &gt;The definition of impaired financial assets in the Group is aligned with the definition of default explained in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the above paragraphs.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:14.2pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.45pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Significant increase in credit risk &lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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:28.35pt;' &gt;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 r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ecognition considering all reasonable and supportable information, including&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; that which is 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:8pt;margin-left:28.35pt;' &gt;The model developed by the Group for assessing the significant increase in credit risk has a two-prong approach that is applied globally, although t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he specific characteristics of each geographic area are respected:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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 exp&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ected 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 ar&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;eas and portfolios. Depending on &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;the age of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;transactions&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; at the time &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;implementation of the standard, some simplification&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; were made to compare the probabilities of default between the current and the initial moment, based on the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;best &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;information availab&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;le at that moment.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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 or macroeconomic scenarios, so the quantitative analysis covers the majority of circumstances. The Group will &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;use additional qualitative criteria when it considers it necessary to include circumstances that are not reflected in the rating/score systems o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;r macroeconomic scenarios used.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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:35.45pt;' &gt;Additionally, instruments under one of the following circumstances are considere&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d Stage 2:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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 repr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;esent a significant increase in risk. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;As of December 31, 201&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;, the Group has not considered periods higher than 30 days for any of the significant portfolios.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Watch list: They are subject to special watch by the Risk units because they show negative signs &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;in their credit quality, even though there may be no objective evidence of impairment.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Refinance or restructuring that does not show evidence of impairment.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;Although the standard introduces a series of operational simplifications or practical solutions for&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ncreased 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:8pt;margin-left:0pt;' &gt;Thus the classification of financial instruments subject to impairment under IFRS 9 is as follows:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#365F91;' &gt;Stage 1&amp;#8211; without significant increase in credit risk&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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:21.3pt;' &gt;Financial assets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; derived from defaul&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#365F91;' &gt;Stage 2&amp;#8211; significant increases in credit risk&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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:21.3pt;' &gt;When the credit risk of a fina&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ncial asset has increased significantly sin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ce the initial recognition, the loss allowances&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of that financial instrument is calculated as the expected credit loss during the entire life of the asset.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#365F91;' &gt;Stage 3 &amp;#8211; Impaired&lt;/font&gt;&lt;/span&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:8pt;margin-left:17.85pt;color:#000000;' &gt;When there is objective evidence that&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; 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.&lt;/font&gt;&lt;/p&gt;&lt;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;When the recovery of any r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ecognized 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, the debt is forgiven, or other reasons.&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:8pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Method for calculating e&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt;xpected credit 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:8pt;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:8pt;margin-left:0pt;' &gt;In accordance with IFRS 9, the measurement of expected losses must reflect:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A considered and unbiased amount, determined by evaluat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ing a range of possible results;&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;the time value of money, and&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;reasonable and supportable information that is available without undue cost or effort and that reflects current conditions and forecasts&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; of future economic conditions.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;The Group measures the exp&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ected 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 credit losses is cal&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;culated as the difference between expected discounted cash flows at the effective interest rate of the transaction and the car&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rying 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:8pt;margin-left:0pt;' &gt;For the collective measurement of expected losses the instruments are grouped into groups of asset&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s 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 cont&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ractual 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;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Type of instrument.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rating or scoring tools.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit risk &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;scoring or rating.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Type of collateral.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Amount of t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ime at default for stage 3.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Segment.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Qualitative criteria which can have a significant increase in risk.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Collateral value if it has an impact on the probability of a default event.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;The estimated losses are&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; derived from the following parameters:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;PD: estimate of the probability of default in each period.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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 financ&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ial statements.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;LGD: estimate of the loss in case of default, calculated as the difference between the contractual cash flows and rec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;eivables, including guarantees.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;In the case of debt securities, the Group supervises the changes in credit risk through mon&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;itoring 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:8pt;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 also &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;monitor&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s the changes in bond yields, and when they are available, the prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of CDS, together with the news and regulatory inform&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ation 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:8pt;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:8pt;margin-left:0pt;' &gt;IFRS 9 requires incorporation of present, past and future information to detect any significant increase in risk and measure ex&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;pected 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:8pt;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 have to be considered, even though the possibility of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;a loss may be very low. 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:8pt;' &gt;st 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:8pt;margin-left:0pt;' &gt;The approach used by the Group co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nsists 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 the weighted average of expected losses in ot&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;her 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), &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;interest&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; rates, unem&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ployment rate and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;price of real estate properties&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory>
  <bbva:Derivativeshedgeaccountingandfairvaluechangesofthehedgeditemsinportfoliohedgesofinterestrateriskapplicableinthefinancialyears20182017and2016 id="ID_10106" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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:8pt;font-weight:bold;margin-left:0pt;color:#094FA4;' &gt;&amp;#8220;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt;Derivatives-Hedge Accounting&amp;#8221; and &amp;#8220;Fair value changes of the hedged items in portfolio hedges of interest-rate risk&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#094FA4;' &gt;&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:8pt;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:8pt;color:#7F7F7F;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;margin-left:0pt;' &gt;Changes &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;In fair value &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;hedges, the changes in the fair value of the derivative and the hedged item attributable to the hedged risk are recogniz&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ed under the heading &amp;#8220;Gains (l&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;osses&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; from hedge accounting, net&amp;#8221; in the consolidated income statement, with a &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;corresponding&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; offset under&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; the headings where hedging items (&amp;quot;Hedging derivatives&amp;quot;) and the hedged items are recognized, as applicable&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;, except for interest-rate risks hedges (which are a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;lmost all of the hedges used by the Group&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;, for&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; which &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;the valuation changes are recognized under&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; 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 (see Note 37).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;In fair value hedges of interest rate risk of a portfolio of financial instruments (portfolio-hedges), the gai&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ns or losses that arise in the measurement of the hedging instrument are recognized in the consolidated income statement, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;with counterpart on the headings &amp;#8220;Derivatives-Hedge Accounting&amp;#8221; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;and the gains or losses that arise from the change in the fair value o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;f the hedged item (attributable to the hedged risk) are also recognized in the consolidated income statement (in both ca&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ses under the heading &amp;#8220;Gains (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;losses&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; from hedge accounting, net&amp;#8221;, using, as a balancing item, the headings &amp;quot;Fair value changes of the h&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;edged items in portfolio hedges of interest rate risk&amp;quot; in the consolidated balance sheets, as applicable).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;In cash flow hedges, the gain or loss on the hedging instruments relating to the effective portion are recognized temporarily under the heading &amp;#8221;Accu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;mulated 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 balancing entry under the heading &amp;#8220;Hedging derivatives&amp;#8221; of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Assets&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; or Liabilities o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;f the consolidated balance sheets as applicable. These differences are recognized &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;under&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;headings &amp;#8220;Interest and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;other income&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&amp;#8221; or &amp;#8220;Interest expense&amp;#8221;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; at the time when the gain or loss in the hedged instrument affects profit or loss, when the forecast tran&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;saction is executed or at the maturity date of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; the hedged item (see Note 37).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Differences in the measurement of the hedging items corresponding to the ineffective portions of cash flow hedges are recognized di&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;rectly &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; the heading &amp;#8220;Gains (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;losses&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; from hedge accounting, net&amp;#8221; in the consolidated income statement (see Note 41).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;In the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;hedges&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; of net investments in foreign operations, the differences attributable to the effective portions of hedging items are recognized temporarily under the heading &amp;quot;A&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ccumulated other comprehensive income - Items that may be reclassified to profit or loss &amp;#8211; Hedging of net investments in foreign transactions&amp;quot; in the consolidated balance sheets with a balancing entry under the heading &amp;#8220;Hedging derivatives&amp;#8221; of the Assets o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;r Liabilities of the consolidated balance sheets as applicable. These differences in valuation are recognized under the heading &amp;#8220;Exchange differences, net&amp;quot; in the consolidated income statement when the investment in a foreign operation is disposed of or de&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;recognized (see Note 41).&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Derivativeshedgeaccountingandfairvaluechangesofthehedgeditemsinportfoliohedgesofinterestrateriskapplicableinthefinancialyears20182017and2016>
  <ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory id="ID_10107" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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:8pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Loss&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt; allowances&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt; on financial assets&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:8pt;margin-left:0pt;color:#004580;' &gt;Definition of impaired 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:8pt;margin-left:0pt;' &gt;The impairment model is applied to financial assets valued at amortized cost and to financial assets valued at fair value with changes in accumulated &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;other comprehensive 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:8pt;' &gt;unilaterally revocable by BBVA. Likewise, all the financial instruments valued at fair value with change through profit and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; loss are excluded from the impairment model&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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).&lt;/font&gt;&lt;/p&gt;&lt;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;The c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;alculation 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 ex&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;pected 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: &lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Expected &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;loss&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; at 12 months: expected credit loss that arises from possible default events within 12 months following the presentation date of the financial statements; and&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Expected &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;loss&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; during the life of the transaction: this is the expected credit loss that arises fr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;om all possible default events over the remaining life of the financial instrument.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;losses, which must be carried out o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;n a weighted probability 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:8pt;margin-left:0pt;' &gt;The BBVA Group has applied the following definitions:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:14.2pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.45pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Default&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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:21.3pt;' &gt;BBVA has applied a definition of default for financial instruments that is consistent with that used in internal credit risk ma&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nagement, as well as the indicators under applicable regulation. 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:8pt;margin-left:21.3pt;' &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='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Payment past-due for more than 90 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;days; or&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;there are reasonable doubts regarding the full reimbursement of the instrument.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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:21.3pt;' &gt;In accordance w&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ith 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. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;As of December 31, 201&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;9&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, the Group has not considered &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;periods higher than 90 days for any&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of the significant portfolios.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:14.2pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.45pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Credit impaired asset&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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:21.3pt;' &gt;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.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; Evidence that a financial asset is credit-impaired includes observable data about the following events:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Significant financial difficulty of the issuer or the borrower,&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; breach of contract (e.g. a default or past due event),&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; 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 otherwise consider,&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;I&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;t becoming probable that the borrower will enter bankruptcy or other financial reorganization,&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;T&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;he disappearance of an active market for that financial asset because of financial difficulties, or&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;T&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;he purchase or origination of a financial asset at a deep discount that refl&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ects the incurred credit losses.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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:21.3pt;' &gt;It may not be possi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ble 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:8pt;margin-left:21.3pt;' &gt;The definition of impaired financial assets in the Group is aligned with the definition of default explained in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the above paragraphs.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:14.2pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:35.45pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Significant increase in credit risk &lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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:28.35pt;' &gt;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 r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ecognition considering all reasonable and supportable information, including&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; that which is 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:8pt;margin-left:28.35pt;' &gt;The model developed by the Group for assessing the significant increase in credit risk has a two-prong approach that is applied globally, although t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he specific characteristics of each geographic area are respected:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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 exp&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ected 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 ar&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;eas and portfolios. Depending on &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;the age of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;transactions&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; at the time &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;implementation of the standard, some simplification&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; were made to compare the probabilities of default between the current and the initial moment, based on the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;best &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;information availab&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;le at that moment.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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 or macroeconomic scenarios, so the quantitative analysis covers the majority of circumstances. The Group will &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;use additional qualitative criteria when it considers it necessary to include circumstances that are not reflected in the rating/score systems o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;r macroeconomic scenarios used.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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:35.45pt;' &gt;Additionally, instruments under one of the following circumstances are considere&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d Stage 2:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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 repr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;esent a significant increase in risk. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;As of December 31, 201&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;, the Group has not considered periods higher than 30 days for any of the significant portfolios.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Watch list: They are subject to special watch by the Risk units because they show negative signs &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;in their credit quality, even though there may be no objective evidence of impairment.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Refinance or restructuring that does not show evidence of impairment.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;Although the standard introduces a series of operational simplifications or practical solutions for&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ncreased 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:8pt;margin-left:0pt;' &gt;Thus the classification of financial instruments subject to impairment under IFRS 9 is as follows:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#365F91;' &gt;Stage 1&amp;#8211; without significant increase in credit risk&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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:21.3pt;' &gt;Financial assets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; derived from defaul&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#365F91;' &gt;Stage 2&amp;#8211; significant increases in credit risk&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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:21.3pt;' &gt;When the credit risk of a fina&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ncial asset has increased significantly sin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ce the initial recognition, the loss allowances&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of that financial instrument is calculated as the expected credit loss during the entire life of the asset.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#365F91;' &gt;Stage 3 &amp;#8211; Impaired&lt;/font&gt;&lt;/span&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:8pt;margin-left:17.85pt;color:#000000;' &gt;When there is objective evidence that&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; 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.&lt;/font&gt;&lt;/p&gt;&lt;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;When the recovery of any r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ecognized 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, the debt is forgiven, or other reasons.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:11pt;margin-bottom:11pt;line-height:12pt;' &gt;&lt;/p&gt;</ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory>
  <ifrs-full:ExplanationOfCreditRiskManagementPracticesAndHowTheyRelateToRecognitionAndMeasurementOfExpectedCreditLossesExplanatory id="ID_10108" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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:8pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Method for calculating e&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004580;' &gt;xpected credit 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:8pt;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:8pt;margin-left:0pt;' &gt;In accordance with IFRS 9, the measurement of expected losses must reflect:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;A considered and unbiased amount, determined by evaluat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ing a range of possible results;&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;the time value of money, and&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;reasonable and supportable information that is available without undue cost or effort and that reflects current conditions and forecasts&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; of future economic conditions.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;The Group measures the exp&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ected 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 credit losses is cal&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;culated as the difference between expected discounted cash flows at the effective interest rate of the transaction and the car&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rying 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:8pt;margin-left:0pt;' &gt;For the collective measurement of expected losses the instruments are grouped into groups of asset&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s 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 cont&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ractual 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;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Type of instrument.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Rating or scoring tools.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Credit risk &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;scoring or rating.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Type of collateral.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Amount of t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ime at default for stage 3.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Segment.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Qualitative criteria which can have a significant increase in risk.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Collateral value if it has an impact on the probability of a default event.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;The estimated losses are&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; derived from the following parameters:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;PD: estimate of the probability of default in each period.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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 financ&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ial statements.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;LGD: estimate of the loss in case of default, calculated as the difference between the contractual cash flows and rec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;eivables, including guarantees.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;In the case of debt securities, the Group supervises the changes in credit risk through mon&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;itoring 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:8pt;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 also &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;monitor&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s the changes in bond yields, and when they are available, the prices&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of CDS, together with the news and regulatory inform&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ation 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:8pt;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:8pt;margin-left:0pt;' &gt;IFRS 9 requires incorporation of present, past and future information to detect any significant increase in risk and measure ex&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;pected 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:8pt;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 have to be considered, even though the possibility of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;a loss may be very low. 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:8pt;' &gt;st 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:8pt;margin-left:0pt;' &gt;The approach used by the Group co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nsists 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 the weighted average of expected losses in ot&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;her 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), &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;interest&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; rates, unem&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ployment rate and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;price of real estate properties&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/p&gt;</ifrs-full:ExplanationOfCreditRiskManagementPracticesAndHowTheyRelateToRecognitionAndMeasurementOfExpectedCreditLossesExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForFinancialGuaranteesExplanatory id="ID_10109" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Financial guarantees&lt;/font&gt;&lt;/p&gt;&lt;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;Financial guarantees are considered to be&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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; whether original or subsequently modified &amp;#8211;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:8pt;margin-left:0pt;' &gt;In their initial recognition, financial guarantees are recognized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; a corresponding asset&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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.&lt;/font&gt;&lt;/p&gt;&lt;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;Financial guarantees, irrespectiv&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e 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 a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;pplication of criteria similar to those established f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;or quantifying loss allowances&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:8pt;margin-left:0pt;' &gt;The provisions recognized for financial guarantees are recognized under the heading &amp;#8220;Provisions - Provision&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s 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, respectively to &amp;#8220;Provisions or reversal of provision&amp;#8221; in the consolidated &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;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 the rate established in the related contract to the nominal amoun&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t of the guarantee (see Note 40).&lt;/font&gt;&lt;/p&gt;&lt;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;Synthetic securitizations made by the Group to date meet the requirements of the accounting regulations for accounting as guarantees. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Consideration as a financial guarantee means recognition of the commission paid for it o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ver the period.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForFinancialGuaranteesExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory id="ID_10110" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Transfers and derecognition of financial assets and liabilities&lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &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:8pt;margin-left:0pt;' &gt;The accounting treatment of transfers of financial assets is determined by the form in which risks and benefits associated with the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 substa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ntially 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 consolidat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ed 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:8pt;margin-left:0pt;' &gt;Similarly, financial liabilities are derecognized from the consolidated balance sheet only if their obligations are extinguished or &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;margin-left:0pt;' &gt;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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of the transferred financial assets. If&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; substantially all the risks and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; benefits associated with the transferred financial asset are retained:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The transferred financial asset is not derecognized from the consolidated balance sheet and continues to be meas&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ured using the same criteria as those used before the transfer.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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 t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;he case.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Both the income generated on the transferred (but not derecognized) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;financial asset and the expense&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; of the new financial liability continue to be recognized.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;color:#004580;' &gt;Treatment of securitizations&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:8pt;margin-left:0pt;' &gt;The securitizations to which the Group entities transfer &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;their credit portfolios are consolidated entities of the Group. For more information, refer to Note 2.1 &amp;#8220;Principles of consolidation&amp;#8221;.&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:8pt;margin-left:0pt;' &gt;The Group considers that the risks and benefits of the securitizations are substantially retained if the subordinated bon&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ds are held and/ or if subordination funding has been granted to those securitization funds&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; which means that the credit loss risk &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;of the securitized assets will be assumed. Consequently, the Group is not derecognizing those transferred loan portfolios.&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:8pt;margin-left:0pt;' &gt;On&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the other hand, the Group has carried out synthetic securitizations, which are transactions where risk is transferred through derivatives or financial guarantees and in which the exposure of these securitizations remains in the balance sheet of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Group&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; The Group has established the synthetic securitizations through received financial guarantees. As for the commissions paid, they are accrued during the term of the financial guarantee&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory id="ID_10111" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;2.2.4   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;Non-current assets and disposal groups &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;classified as &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;held for sale and liabilities included in disposal groups&lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt; classified as held for sale&lt;/font&gt;&lt;/p&gt;&lt;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;The headings &amp;#8220;Non-current assets and disposal groups &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;classified as &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;held for sale&amp;#8221; and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8220;Liabilities included in disposal groups classified as held for sale&amp;#8221; in the consolidated balance sheet include the carrying amount of assets that are not part of the BBVA Group&amp;#8217;s operating activities. The recovery of this carrying amount is expected to ta&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ke 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:8pt;margin-left:0pt;' &gt;These headings include individual items and groups of items (&amp;#8220;disposal groups&amp;#8221;) and disposal groups that form part of a major operating segment and are being held for sale as part of a disp&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;osal plan (&amp;#8220;discontinued operations&amp;#8221;). The heading &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8220;Non-current assets and disposal groups classified as held for sale&amp;#8221;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; include the assets received by the subsidiaries from their debtors, in full or partial settlement of the debtors&amp;#8217; payment obligations (a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ssets 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:8pt;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 sheet reflects the balances payable arising from disposal grou&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &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:8pt;margin-left:0pt;' &gt;Non-current assets and dispos&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;al 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.&lt;/font&gt;&lt;/p&gt;&lt;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;In the case of real es&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tate 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.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s 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 th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ese assets, and in any case, deducting the company&amp;#8217;s estimated sale costs.&lt;/font&gt;&lt;/p&gt;&lt;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;At the time of the initial recognition, these real estate assets foreclosed or received in payment of debts, classified as &amp;#8220;Non-current assets and disposal groups &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;classified as &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;held&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 sale costs and their carrying amount; a deterioration or impairment reversal can be recognized for the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:8pt;margin-left:0pt;' &gt;Non-current assets and disposal groups held for sale groups classified as held for sale are not depreciated while included under the heading &amp;#8220;Non-current assets and disposal groups&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; classified as&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:8pt;margin-left:0pt;' &gt;Fair value of non-&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 frequently, should the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;re 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:8pt;margin-left:0pt;' &gt;Gains and losses generated on the dispos&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;al 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 &amp;#8220;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Gains (losses) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;from &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 remaining income and expense items associated with these assets and liabilities are classi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;fied 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:8pt;margin-left:0pt;' &gt;Income and expense&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 &amp;#8220;Profit &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;(loss) after tax &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;from discontinued operations&amp;#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.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory id="ID_10112" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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:8pt;margin-left:0pt;color:#004580;' &gt;Property, plant and equipment 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:8pt;margin-left:0pt;' &gt;This heading includes the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;assets under ownership or acquired under lease terms&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; (right to use)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;partial settlement of financial assets representing receivables from third parties &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;which are&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; expected to be held for continuing 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:8pt;margin-left:0pt;' &gt;For more information regarding the accounting treatment of right to use assets under lease terms, see Note 2.2.19 &amp;quot;Leases&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:8pt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;impairment losses&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;resulting from comparing this net carrying amount of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;margin-left:0pt;' &gt;Depreciation is calculated using the straight-line method, during the useful life of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;asset&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, on the basis of the acquisition cost of the assets less their residual value; the land is con&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sidered to have an indefinite life and is therefore not depreciated.&lt;/font&gt;&lt;/p&gt;&lt;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;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the application of the following depreciation rates (determined on the basis of the average years of estimated useful 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:443.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:443.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:255.75pt;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:255.75pt;' &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:187.5pt;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:187.5pt;' &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:255.75pt;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:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Type of assets&lt;/font&gt;&lt;/td&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:center;vertical-align:middle;border-color:Black;min-width:187.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Annual Percentage&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:255.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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:187.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:187.5pt;' &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:12pt;' &gt;&lt;td style='width:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Furniture&lt;/font&gt;&lt;/td&gt;&lt;td style='width:187.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:187.5pt;' &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:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Fixtures&lt;/font&gt;&lt;/td&gt;&lt;td style='width:187.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:187.5pt;' &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:255.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:255.75pt;' &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:187.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:187.5pt;' &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:6pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;At each reporting date, the Group entities analyze whether there are internal or exte&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rnal 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&amp;#8217;s net carrying amount with its recoverable amount (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;defined &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;as the higher between &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 asse&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t&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:8pt;margin-left:0pt;' &gt;Similarly, if there is any indication that the value of a previously impaired tangible asset is now recoverable, the consolidated entities will estimate the recoverable amounts of the asset and recognize it in the consolidated in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;come statement, recording the reversal o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;f the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;impairment loss&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;recognized&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;it would have if no impairment losses had been recognized in 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:8pt;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 analyses are pe&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rformed for these CGUs to check whether sufficient cash flows 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:8pt;margin-left:0pt;' &gt;Operatin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;g and maintenance expense 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 &amp;quot;Administration costs - Other admin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;istrative expense&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; - Property, fixtures and &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;materials&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;quot; (see Note 44.2).&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:8pt;margin-left:0pt;color:#004580;' &gt;Other assets leased out under an operating lease&lt;/font&gt;&lt;/p&gt;&lt;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;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;impairment losses&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;on them, are the same as those described in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;relation to tangible assets for own use.&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:8pt;margin-left:0pt;color:#004580;' &gt;Investment properties&lt;/font&gt;&lt;/p&gt;&lt;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;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:8pt;' &gt;ate, estimated &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;' &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:8pt;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:8pt;' &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:8pt;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:8pt;' &gt;s&amp;#8217; market at s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;uch&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; date. This fair value will be determined taking as references the valuations performed by independent experts.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:10pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory>
  <bbva:Descripitionofdescriptionofaccountingpolicyforinventoriesexplanatory id="ID_10113" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Inventories&lt;/font&gt;&lt;/p&gt;&lt;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;The balance under the heading &amp;#8220;Other assets - Inventories&amp;#8221; in the consolidated balance sheets mainly &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;margin-left:0pt;' &gt;The cost of inventories includes those costs incurred in their acquisition &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;margin-left:0pt;' &gt;In the case of the cost of real estate assets accounted for as inventories, the cost is comprised of: the acquisition cost of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:8pt;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 carrying amount or the net &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;realizable&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; val&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ue of the property, 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 (&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;net of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;provisions).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Descripitionofdescriptionofaccountingpolicyforinventoriesexplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories id="ID_10114" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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:8pt;margin-left:0pt;color:#004580;' &gt;Inventory sales&lt;/font&gt;&lt;/p&gt;&lt;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;In sale transactions, the carrying amount of inventories is derecognized from the consolidated balance sheet and recognized as an expense under the income statement h&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;eading &amp;quot;Other operating expense&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &amp;#8211; Change in inventories&amp;#8221;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Gains&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; from &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sales of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;non-financial services&amp;#8221; in the consolidated income statements (see Note 42).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories>
  <bbva:Descriptionofaccountingpolicyfortheimpairmentofinventories id="ID_10115" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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:8pt;margin-left:0pt;color:#004580;' &gt;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:8pt;margin-left:0pt;' &gt;The amount of any subsequent adj&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ustment 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 va&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lue, are recognized under the heading &amp;quot;Impairment or reversal of impairment on non-financial assets&amp;#8221; in the accompanying consolidated income statements for the year in which they are incurred&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; (see Note 48)&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;In the case of the above mentioned real-estate as&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sets, if the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;net &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;realizable&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; value 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 impairment on non-financial assets&amp;quot; in the consolidated income s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tatement 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 appraisals no more than one year old, or less if there are indicatio&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ns of impairment.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Descriptionofaccountingpolicyfortheimpairmentofinventories>
  <ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory id="ID_10116" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;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:8pt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8220;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;acquisition method&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8221;&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;According to this method, the acquirer has to recognize the ass&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ets 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 allocat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ion 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.&lt;/font&gt;&lt;/p&gt;&lt;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;In a business &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;combination achieved in stages, the acquirer shall measure 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 &amp;#8220;Gains (losses) on derec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ognition 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 in the acquiree in other comprehensive income. If so, th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e 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:8pt;margin-left:0pt;' &gt;In addition, the acquirer shall recognize an asset in the co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nsolidated 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;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;he sum of the consideration transferred, the amount of all the non-controlling interests and the fair value of stock previously hel&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;d in the acquired business; and&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;the net fair value of the assets acquired and liabilities assumed.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;If this difference is negative, it shall be recognized directly in the income statement under the heading &amp;#8220;Negative goodwill recognized in pr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ofit 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:8pt;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 entity. The method of valuing non-controlling interest may &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;be elected in each business combination. BBVA Group has always elected for the second method.&lt;/font&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory id="ID_10117" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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:8pt;margin-left:0pt;color:#004580;' &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:8pt;margin-left:0pt;' &gt;These assets may have&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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:8pt;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 those used to depreciate tangible assets. The defined useful life intangible asset i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s made up mainly of IT applications acquisition costs which have a useful life of 3 to 5 years. The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;amortiz&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ation charge of these assets is recognized in the accompanying consolidated income statements under the heading &amp;quot;Depreciation and amortization&amp;quot; (see &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;margin-left:0pt;' &gt;The consolidated entities recognize any impairment losses on the carrying amount of these assets with charge to the heading &amp;#8220;Impairment or reversal of impairment on non - financial assets- Intangible assets&amp;#8221; in the accompanying consolidated incom&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e statements (see Note 48). &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory id="ID_10118" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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:8pt;margin-left:0pt;color:#004580;' &gt;Goodwill&lt;/font&gt;&lt;/p&gt;&lt;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;Goodwill represents a portion of consideration transferred in advance by the acquiring entity for the future economic benefits &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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).&lt;/font&gt;&lt;/p&gt;&lt;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;Goodwill is assigned to one or m&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ore &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;CGU&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; that expect to be the beneficiaries of the synergies derived from the business combinations. The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;CGU&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; represent the Group&amp;#8217;s smallest identifiable asset groups that generate cash flows for the Group and that are largely independent of the flows gen&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;erated 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;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Is the lowest level at which the entity manages goodwill internally.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Is not larger than an operating segment.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;The cash generating&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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.&lt;/font&gt;&lt;/p&gt;&lt;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;For the purpose of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;event they are not valued at fair value, is compar&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ed with its recoverable 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:8pt;margin-left:0pt;' &gt;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 disco&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;unted 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 its calculation are: a sustainable growth rate to extrapolate the cash flows indefi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nitely, 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 e&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;valuated 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:8pt;margin-left:0pt;' &gt;If the carrying amount of the cash-generating unit exceeds the related recoverable amount, the Group recognizes &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;an&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; impairment loss&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;; the resulting loss is apportioned by reducing, first, the carrying amount of the goodwill allocated&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; to that unit and, second, if there are still &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;impairment losses&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 subs&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;equent 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:8pt;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 consolidated income statements (see Note 48).&lt;/font&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForInsuranceContracts id="ID_10119" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Insurance and reinsurance 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:8pt;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 consolidated balance sheets, and the initial recognition and valuation is carried o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ut 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:8pt;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 consolidated insurance subsidiaries are entitled to receive under the reinsurance c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ontracts 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 subsidiaries.&lt;/font&gt;&lt;/p&gt;&lt;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;The heading &amp;#8220;Liabilities under insurance and reinsurance contracts&amp;#8221; in the acc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ompanying 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).&lt;/font&gt;&lt;/p&gt;&lt;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;The&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; income or expense&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; reported by the BBVA Group&amp;#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.&lt;/font&gt;&lt;/p&gt;&lt;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;The consolidated insurance e&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ntities 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 collect&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ed 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:8pt;margin-left:0pt;' &gt;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.&lt;/font&gt;&lt;/p&gt;&lt;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;According to the t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ype of product, the provisions may be as follows:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Life insurance provisions:&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;/div&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:8pt;margin-left:18pt;' &gt;Represents the value of the net obligations undertaken with the life insurance policyholder. These provisions include:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Provisions for unearned premiums. These are intended for the accrual, at the date of calculation, of the premiums written. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Their&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; balance reflects the portion of the premiums received until the closing date that has to be allocated to the period from year-e&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;nd to the end of the insurance policy period.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Mathematical 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 contracted.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non-life insur&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ance provisions:&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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 date that has to be allocat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ed to the period between the year-end and the end of the policy period.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:39.7pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:57.55pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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 sufficient to reflect the&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; 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;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Provision for claims:&lt;/font&gt;&lt;/span&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:8pt;margin-left:35.4pt;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:8pt;' &gt;claims incurred prior to ye&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ar-end. Insurance subsidiaries calculate this&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#0D0D0D;' &gt; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &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 pa&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;id in relation to these claims.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Provision for bonuses and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; rebates:&lt;/font&gt;&lt;/span&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:8pt;margin-left:35.4pt;color:#0D0D0D;' &gt;This provision includes the amount of the bonuses &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &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 insured, to the extent that&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; such amounts have not been individually assigned to each of them.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Technical provisions for reinsurance ceded:&lt;/font&gt;&lt;/span&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:8pt;margin-left:35.4pt;color:#0D0D0D;' &gt;Calculated by applying the criteria indicated &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;above for direct insurance, taking account of the assignment conditions established in the open rei&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nsurance contracts.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other technical provisions:&lt;/font&gt;&lt;/span&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:8pt;margin-left:35.4pt;color:#0D0D0D;' &gt;Insurance entities have recognized provisions to cover the probable &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;mismatches in the market reinvestment interest rates with respect to those used in the valuation of the technical 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:8pt;margin-left:0pt;' &gt;The BBVA Group&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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.&lt;/font&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForInsuranceContracts>
  <ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory id="ID_10120" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Tax 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:8pt;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 when they result from transact&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ions on which the profits or losses are recognized directly in equity, in which case the related tax effec&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t 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:8pt;margin-left:0pt;' &gt;The total corporate income tax expense is calculated by aggregating the current tax arising from the application of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory id="ID_10121" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:8pt;margin-left:0pt;' &gt;Deferred tax assets&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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;tax value&amp;#8221;), and tax loss and t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ax credit or discount carry forwards. These amounts are registered by applying to each temporary difference the tax rates that are expected to apply when the asset is realized or the liability settled (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:8pt;margin-left:0pt;' &gt;The &amp;quot;Tax Assets&amp;quot; line item in the accomp&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;anying 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 recoverable in the next twelve months) and &amp;quot;Deferred&amp;quot; (which includes the amount of tax to be recovered in future years, i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ncluding those arising from tax losses or credits for deductions or rebates that can be compensated). The &amp;quot;Tax Liabilities&amp;quot; line item in the accompanying consolidated balance sheets includes the amount of all the liabilities of a tax nature, except for pro&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;visions 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 twelve 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:8pt;margin-left:0pt;' &gt;Deferred tax liabilities attribut&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;able 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 tha&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t it will reverse in the future. Deferred tax assets are recognized to the extent that it is probable that the consolidated entities will generate enough taxable profits to make deferred tax assets &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;settle&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and do not correspond to those from initial recogni&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tion (except in the case of business combinations), which also does not affect the fiscal outcome.&lt;/font&gt;&lt;/p&gt;&lt;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;The deferred tax assets and liabilities recognized are reassessed by the consolidated entities at each balance sheet date in order to ascertain whether they &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 part&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;icular 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; it is probable or not that a taxation authority will accept an uncertain tax treatment. 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 pai&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d to (recovered from) the taxation authorities.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory id="ID_10122" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:8pt;margin-left:0pt;' &gt;The income and expense&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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;</ifrs-full:DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory id="ID_10123" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Provisions, contingent assets and contingent 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:8pt;margin-left:0pt;' &gt;The heading &amp;#8220;Provisions&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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 forme&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d 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, futur&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e 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:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;They represent a current obligation that has arisen from a past event&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;. 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.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;It is probable that an outflow of resources embodying economic benefits will be required to settle the obligati&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;on.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The amount of the obligation can be reasonably estimated.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;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:8pt;margin-left:0pt;' &gt;Continge&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nt 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 consolid&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ated 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 economi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;c 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:8pt;margin-left:0pt;' &gt;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 measur&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ed 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:8pt;margin-left:0pt;' &gt;Contingent li&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;abilities 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 outflo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;w of resources embodying economic benefits&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; is remote&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory id="ID_10124" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Pensions and other post-employment 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:8pt;margin-left:0pt;' &gt;Below we provide a description of the most significant accounting policies relating to post-employment and other employee benefit commitments &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;assumed by BBVA Group entities (see Note 25).&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:8pt;margin-left:0pt;color:#004580;' &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:8pt;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 salar&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ies, social security char&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ges and other personnel expense&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Costs are charged and recognized under the heading &amp;#8220;Administr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ation costs &amp;#8211; Personnel expense&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &amp;#8211; Other personnel 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:8pt;margin-left:0pt;color:#004580;' &gt;Post-employment benefits&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt; &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:8pt;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:8pt;margin-left:0pt;' &gt;The contributions made to these plan&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s in each year by BBVA Group entities are charged and recognized under the heading &amp;#8220;Administra&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tion costs &amp;#8211; Personnel expense&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8211; Defined-contribution plan expense&amp;#8221; of the consolidated in&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;come 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:8pt;margin-left:0pt;color:#004580;' &gt;Post-employment benefits &amp;#8211; Defined-benefi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt;t 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:8pt;margin-left:0pt;' &gt;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 prov&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ided to most active employees. 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:8pt;margin-left:0pt;' &gt;In addition, some of the Spanish entities have offered certain employees the option to retire before their normal retirement age, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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.&lt;/font&gt;&lt;/p&gt;&lt;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;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:8pt;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:8pt;' &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:8pt;' &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:8pt;margin-left:0pt;' &gt;Current service cost is charged and recognized under the heading &amp;#8220;Administration costs &amp;#8211; &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Personnel expense&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &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:8pt;margin-left:0pt;' &gt;Interest credits&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;/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:8pt;margin-left:0pt;' &gt;Past service costs arising from benefit plan changes as well as e&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;arly 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:8pt;margin-left:0pt;color:#004580;' &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:8pt;margin-left:0pt;' &gt;In addition to the above commitments, certain Group enti&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ties 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;/p&gt;&lt;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;These commitments are quantified based on actuarial valuations and the amoun&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ts 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:8pt;margin-left:0pt;color:#004580;' &gt;Valuation of commitments: actuarial assumptions and 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:8pt;margin-left:0pt;' &gt;The present value of these commitments is determ&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ined 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 additional 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:8pt;margin-left:0pt;' &gt;In establishing the ac&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tuarial assumptions we take into account that:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;They should be unbiased, i.e. neither unduly optimistic nor excessively conservative.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Each assumption does not contradict the others and adequately reflect the existing relationship between economic variables &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; be settled.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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;/span&gt;&lt;/p&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;The BBVA Group recognizes actuarial gains/losses relating to early retirement benefits, long &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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). Actuarial gains/losses relating to pension and medical benefits are direc&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tly 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;&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;Actuarial gains or losses on defined benefit pension plans&amp;quot; of equity in the consolidated balance sheet (see Note&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 30).&lt;/font&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory id="ID_10125" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Equity-settled share-based payment 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:8pt;margin-left:0pt;' &gt;Equity &amp;#8211;settled share-based payment transactions, provided they constitute the delivery of such equity instruments once completion of a specific period of services has occurred, are recognized &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;as an expense for services being provided by employees, by way of a balancing 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 r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;eceived, 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 cond&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;itions 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:8pt;margin-left:0pt;' &gt;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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; number of equity instruments to be issued. This will be recognized on the consolidated income statement with the corresponding increase in total consolidated equity.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForTerminationBenefits id="ID_10126" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Termination 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:8pt;margin-left:0pt;' &gt;Termination benefits are recognized in the financial statem&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ents when the BBVA Group agrees to terminate employment contracts with its employees and h&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;as established a detailed plan.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForTerminationBenefits>
  <ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory id="ID_10127" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Treasury &lt;/font&gt;&lt;font style='font-family:Arial;font-size:9pt;font-weight:bold;color:#004580;' &gt;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:8pt;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 deri&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;vatives on the Bank&amp;#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 &amp;quot;Shareholders&amp;#8217; funds - Treasury stock&amp;quot; in the consolida&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ted 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:8pt;margin-left:0pt;' &gt;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 &amp;#8220;Shareholders&amp;#8217; funds - Retained earnings&amp;#8221; in the consolid&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ated balance sheets (see Note 28).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory>
  <bbva:Descriptionofaccountingpolicyforforeigncurrencytranslationandexchangedifferencesbalancesheetexplanatory id="ID_10128" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Foreign-currency transactions and exchange differences&lt;/font&gt;&lt;/p&gt;&lt;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;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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and transactions denominated in currencies other than the euro are deemed 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:8pt;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;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Conversion of the foreign currency to th&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;e entity&amp;#8217;s functional currency (currency of the main economic environment in which the entity operates); and&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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;/span&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Descriptionofaccountingpolicyforforeigncurrencytranslationandexchangedifferencesbalancesheetexplanatory>
  <bbva:Descriptionofaccountingpolicyforfunctionalcurrencybalancesheetexplanatory id="ID_10129" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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:8pt;margin-left:0pt;color:#004580;' &gt;Conversion of the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#004580;' &gt;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:8pt;margin-left:0pt;' &gt;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. Sub&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sequently, 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,&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non-monetary items valued at their historical cost are converted to the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;functional currency at the exchange rate applicable on the purchase date.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Monetary items are converted to the fun&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ctional currency at the closing exchange rate.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Income and expense &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;are converted at the period&amp;#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.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;The exchange differences &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;produced when converting the balances in foreign currency to the functional currency of the consolidated entities are generally recognized under the heading &amp;quot;Exchange differences, net&amp;quot; in the consolidated income statements (see Note 41). However, the excha&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nge differences in non-monetary items measured at fair value are recorded to equity under the heading &amp;#8220;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Accumulated other comprehensive &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;income or loss&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;Items not subject to reclassification to income statement&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;Fair value changes of equity instruments mea&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;sured at fair value through other comprehensive income&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8221;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; in the consolidated balance sheets (see Note 30).&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:8pt;margin-left:0pt;color:#004580;' &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:8pt;margin-left:0pt;' &gt;The balances in the financial statements of consolidated entities whose functional currency is not the eu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ro are converted to euros as follows:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.45pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.45pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.45pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.45pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Income and expense&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; 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 sign&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ificant variations during the year.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.45pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:35.45pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity items: at&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; the hi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;storical exchange rates.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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;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 &amp;#8220;Accumulated other compr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ehensive income &amp;#8211; Items that may be reclassified 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 ent&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ities accounted for by the equity method are recognized under the heading &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;&amp;#8220;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 re&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;late is derecognized, at which time they are 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:8pt;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 provision&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;s of IAS 29 &amp;quot;Financial information in hyperinflationary 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 ac&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;counted 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:8pt;margin-left:0pt;' &gt;The breakdown of the 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:8pt;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:8pt;margin-left:0pt;' &gt;Local financial statements of the Group subsidiaries in Venez&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;uela are expressed in Venezuelan Bolivar, and converted into euros for the consolidated financial statements. Venezuela is a country with strong exchange restrictions &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;that&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; has different rates officially published&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, and&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, since December 31, 2015, the Board of&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; Directors considers that the use of these 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 Gr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;oup subsidiaries in &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;this country&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;. Therefore, since the year ended December 31, 2015, the exchange rate for converting bolivars into euros is an estimation &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;taking into account&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the evolution of the es&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;timated 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:8pt;margin-left:0pt;' &gt;As of December 31, 2019, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2018 and 2017, 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;font style='font-family:Arial;font-size:8pt;' &gt;(see Note 2.2.20)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/p&gt;</bbva:Descriptionofaccountingpolicyforfunctionalcurrencybalancesheetexplanatory>
  <bbva:Descriptionofaccountingpolicyforrecognitionofrevenueandexpensesexplanatory id="ID_10130" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Recognition of income and expense&lt;/font&gt;&lt;/p&gt;&lt;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;The most significant policies used by the BBVA Group to recognize its income and expense are as follows.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Descriptionofaccountingpolicyforrecognitionofrevenueandexpensesexplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory id="ID_10131" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;p style='display:flex;margin-left:0pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:18pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Interest income and expense and similar items:&lt;/font&gt;&lt;/span&gt;&lt;/p&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:8pt;margin-left:35.4pt;color:#0D0D0D;' &gt;As a general rule, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;interest income and expense and similar items are recognized on the basis&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; of their period of accrual using the effective interest ra&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;te method.&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:8pt;margin-left:35.45pt;color:#0D0D0D;' &gt;T&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;hey shall be recognized within the consolidated income statement according to the following criteria, independently from the financial instruments&amp;#8217; portfolio which generates the income &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;or expense:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:35.45pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:53.3pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &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;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:35.45pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:53.3pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;The interest income accrued after the initial recognition will form part of the gross carrying amount of the debt instrument until it will be &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;received&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.&lt;/font&gt;&lt;/span&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:8pt;margin-left:35.4pt;' &gt;The financial fees and commissions that arise on the arrangement of loans and advances (basically origin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ation and analysis&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; fees) are deferred and recognized in the income statement over the expected life of the loan. From that amount, the transaction costs identified as directly attributable to the arrangement of the loans and advances will be deducted. Thes&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;e fees are part of the effective interest r&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ate 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:8pt;margin-left:35.45pt;' &gt;Once a 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 am&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ount of the asset.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:0pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:18pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Income from dividends received:&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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:35.45pt;color:#0D0D0D;' &gt;Dividends shall be recognized within the consolidated income statement according to the following&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;color:#0D0D0D;' &gt;criteria, independently from the financial instruments&amp;#8217; portfolio which generates this income:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:35.45pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:53.3pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;When the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 div&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;idends are accounted for as financial assets separately from the net equity instrument.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:35.45pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:53.3pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &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 inco&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;me 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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 du&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ring the same period.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForFeeAndCommissionIncomeAndExpenseExplanatory id="ID_10132" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;p style='display:flex;margin-left:0pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:18pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Commissions, fees and similar items:&lt;/font&gt;&lt;/span&gt;&lt;/p&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:35.4pt;' &gt;Income and expense&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; relating to commissions and similar fees are recognized in the consolidated income statement using criteria that vary according to the nature of such items. The most significant items in this connection are:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:35.45pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:53.3pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Those&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; relating to financial assets and liabilities measured at fair value through profit or loss, which are recognized when collected/paid.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:35.45pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:53.3pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Those arising f&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rom transactions or services that are provided over a period of time, which are recognized over the life o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;f these &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;transactions&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; or services.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:35.45pt;text-align:justify;margin-top:0pt;margin-bottom:10pt;' &gt;&lt;span style='min-width:53.3pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Those&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; relating to a singular transaction, which are recognized when this singular transaction is carried out.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForFeeAndCommissionIncomeAndExpenseExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForRecognisingDifferenceBetweenFairValueAtInitialRecognitionAndAmountDeterminedUsingValuationTechniqueExplanatory id="ID_10133" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;p style='display:flex;margin-left:0pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:18pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;N&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;on-financial income and expense&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;:&lt;/font&gt;&lt;/span&gt;&lt;/p&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:35.45pt;' &gt;These are recognized for accounting purposes on an accrual basis.&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:0pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:18pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Deferred col&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;lections and payments:&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;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:35.45pt;' &gt;These are recognized for accounting purposes at the amount resulting from discounting the expected cash flows at market rates.&lt;/font&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForRecognisingDifferenceBetweenFairValueAtInitialRecognitionAndAmountDeterminedUsingValuationTechniqueExplanatory>
  <bbva:Descriptionofaccountingpolicyforrecognitionofnonfinancialservicesrevenueexplanatory id="ID_10134" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Sales of assets and income from the provision of non-financial services&lt;/font&gt;&lt;/p&gt;&lt;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;The heading &amp;#8220;Other &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;operating income&amp;#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 e&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;state and service entities (see Note 42).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Descriptionofaccountingpolicyforrecognitionofnonfinancialservicesrevenueexplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory id="ID_10135" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;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:8pt;margin-left:0pt;' &gt;Effective January 1, 2019, IFRS 16 replaced IAS 17 &amp;#8220;Leases&amp;#8221; (see Note 2.3). The single lessee accounting model requires the lessee to record assets and liabilities for all lease contracts. The stand&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ard provides two exceptions to the recognition of lease assets and liabilities that can be applied in the case of short-term contracts and those in which the underlying assets have low value. BBVA has elected to apply both exceptions. A lessee is required &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;to recognize a right-of-use asset representing its right to use the underlying leased asset, which is recorded under the headings &amp;#8216;&amp;#8216; Tangible assets &amp;#8211; Property plants and equipment&amp;#8217;&amp;#8217; and&amp;#8216;&amp;#8216; Tangible assets &amp;#8211; Investment properties&amp;#8217;&amp;#8217; of the consolidated balan&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ce sheet (see Note 17) and a lease liability representing its obligation to make lease payments which is recorded under the heading &amp;#8216;&amp;#8216; Financial liabilities at amortized cost &amp;#8211; Other financial liabilities&amp;#8217;&amp;#8217; in the consolida&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ted balance sheet (see Note 22.5&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;.&lt;/font&gt;&lt;/p&gt;&lt;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;At the initial date of the lease, the lease liability represents the present value of all lease unpaid payments. The liabilities registered under this heading of the consolidated balance sheets are measured after their initial recognition at amortized co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;st, this being determined in accordance with the &amp;#8220;effective interest rate&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:8pt;margin-left:0pt;' &gt;The right to use assets are initially recorded at cost. This cost consists of the initial measurement of the lease liability, any payment made before the initial date less a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ny lease incentives received, all direct initial expenses incurred, as well as an estimate of the expenses to be incurred by the lessee, such as expenses related to the removal and dismantling of the underlying asset. The &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;right to use &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;assets recorded under&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; this heading of the consolidated balance sheets are measured after their initial recognition at cost less:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;The accumulated depreciation and accumulated impairment&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:left;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Any remeasurement of the lease liability&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;The interest expense&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; on the lease liability &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;is &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;recorded&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; in the consolidated income statements under the heading &amp;#8220;Interest expense&amp;#8221; (see note 37). Variable payments not included in the initial measurement of the lease liability are re&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;corded&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; under the heading &amp;#8220;Administration costs &amp;#8211; Other administrative expense&amp;#8221; (see &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;N&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ote 44).&lt;/font&gt;&lt;/p&gt;&lt;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;Amortization is calculated using the straight-line method over the lifetime of the lease contract, on the basis of the cost of the assets. The tangible asset depreciation charges are recognized in the accompanying consolidated incom&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;e 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:8pt;margin-left:0pt;' &gt;In case of electing one of the exceptions in order not to recognize the corresponding right to use and the liability in the consolidated balance sheets, payments related to the c&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;orresponding lease are recognized in the consolidated income statements, over the contract period, lineally, or in the way that best represents the structure of the lease operation, under the heading &amp;quot;Other &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;administrative&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; expense&amp;#8221; (see Note 4&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;4&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;.&lt;/font&gt;&lt;/p&gt;&lt;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;Operating &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lease and sublease incomes are recognized in the consolidated income statements under the headings &amp;#8220;Other operating income&amp;#8221; (see Note 42&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;As a lessor, 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:8pt;' &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:8pt;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:8pt;' &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:8pt;' &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:8pt;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:8pt;' &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:8pt;' &gt; statements on a straight-line basis within &amp;#8220;Other operating income&amp;#8221; and &amp;quot;Other operating expense&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:8pt;margin-left:0pt;' &gt;If a fair value sale and leaseback results in a lease, the profit or loss generated from the effectively transferred part of the sale is recog&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nized in the consolidated income statement at the time of sale (only for t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;he effective transmitted part).&lt;/font&gt;&lt;/p&gt;&lt;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;The assets leased out under operating lease contracts to other entities in the Group are treated in the Consolidated Financial Statements as for own u&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;se, and thus rental expense and income is eliminated in consolidation and the corresponding depreciation is recognized.&lt;/font&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory>
  <bbva:DescriptionOfAccountingPoliciesForEntitiesAndBranchesLocatedInCountriesWithHiperinflationaryEconomies id="ID_10136" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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:9pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;Entities and branches located in countries with hyperinflationary economies&lt;/font&gt;&lt;/p&gt;&lt;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;In accordance with the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;IFRS&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;-IASB&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 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 or savings in non-monetary a&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ssets 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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:8pt;margin-left:0pt;color:#004580;' &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:8pt;margin-left:0pt;' &gt;Since 2018, the economy of Argentina has been considered hyperinflat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ionary under the above criteria. As a result, the financial statements of the BBVA Group&amp;#8217;s entities located in Argentina have therefore been adjusted to correct for the effects of inflation in accordance with IAS 29 &amp;#8220;Financial reporting in hyperinflationar&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;y economies&amp;#8220;. &lt;/font&gt;&lt;/p&gt;&lt;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;During 2019&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, the increase in the reserves of Group entities located in Argentina derived from the re-expression for hyperinflation (IAS 29) amounts to &amp;#8364;470 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and &amp;#8364;703&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; respectively,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; of which &amp;#8364;313&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and &amp;#8364;463&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, respectively,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; have been recorded within &amp;#8220;Shareholders&amp;#8217; funds - Retained earnings&amp;#8221; and &amp;#8364;157&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and &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;240&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;million&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, respectively,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; within &amp;#8220;Minority interests &amp;#8211; Other&amp;#8221;. Furthermore, during 201&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;9 and 2018&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the decrease in the reserves of Group entities located in Argentina derive&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d from the co&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nversion (IAS 21) amounted to &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;460&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and &amp;#8364;773 million, respectively, of which &amp;#8364;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;305&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and &amp;#8364;515 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;million&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, respectively,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; have been recorded within &amp;#8220;Shareholders&amp;#8217; funds - Retained earnings&amp;#8221;, and &amp;#8364;155&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and &amp;#8364;258&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, respectively,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; within &amp;#8220;Minority int&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;erests &amp;#8211; Other&amp;#8221;. The net impact of both effects is presented under the caption &amp;#8220;Other increases or (-) decreases in equity&amp;#8221; in the consolidated Statement of Changes in Equity for the years ended December 31, 2019 and 2018. The net loss in the profit attrib&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;utable to the parent company of the Group in 2019 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and 2018 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;derived from the application of IAS 29 amounted to &amp;#8364;190&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and &amp;#8364;209&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; million&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, respectively&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;. In addition, there is a net loss in the profit attributable to the parent company of the Group in 2019 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and 2018 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;derived from the application of IAS 21 which amounted to &amp;#8364;34&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; and &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;57 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;million&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, respectively&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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, 2019 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;and 2018 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;for the inflation restatement of the financial &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;statements of the Group companies located in Argentina 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='3' 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:#02A5A5;' &gt;General Price Index &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &gt;&lt;td style='width:322.5pt;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:322.5pt;' &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:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:322.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:322.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;GPI&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;285&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;184&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:322.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:322.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Average GPI&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;233&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;152&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:322.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:322.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Inflation of the period&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;55%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:8pt;margin-left:0pt;color:#004580;' &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:8pt;margin-left:0pt;' &gt;Since 2009, the economy of Venezuela has been considered hyperinflationary under the above criteria. As a result, the financial statements of the BBVA &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Group&amp;#8217;s entities located in Venezuela have therefore been adjusted to correct for the effects of inflation in accordance with IAS 29 &amp;#8220;Financial reporting in hyperinflationary economies&amp;#8220;.&lt;/font&gt;&lt;/p&gt;&lt;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;The losses recognized under the heading &amp;#8220;Profit attributable to the p&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;arent 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 Venezuela amounted to &amp;#8364;8, &amp;#8364;12 and &amp;#8364;13 million in 2019, 2018 and 2017, respectively (see Note 2.2.&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;16).&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</bbva:DescriptionOfAccountingPoliciesForEntitiesAndBranchesLocatedInCountriesWithHiperinflationaryEconomies>
  <bbva:Measurementoffinancialassetsandliabilitiesunderias39applicableinthefinancialyears2017and2016 id="ID_10137" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;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:8pt;margin-left:0pt;' &gt;IFRS 9 became effective as of January 1, 2018 and replaced IAS 39 regarding the classification and measurement of fi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nancial assets and liabilities, the impairment of financial assets and hedge accounting. &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Currently&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;, the Group has elected &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;to continue&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the application of IAS 39 for hedge accounting, as permitted by IFRS 9. The disclosures for the financial year 2017 relate&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;d to the measurement of financial assets and liabilities, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;the &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;definition of impaired financial assets, and the method for calculating the impairment on financial assets, which are presented for the purpose of comparability, are based on the accounting &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;policies and valuation criteria applicable under IAS 39.&lt;/font&gt;&lt;/p&gt;&lt;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;The main aspects regarding IAS 39, applicable until December 31, 2017, 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:8pt;margin-left:0pt;color:#004580;' &gt;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:8pt;margin-left:0pt;' &gt;IAS 39 established the following three categories for the recognition of fi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nancial assets, not applicable under IFRS 9, valued as follows:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&amp;#8220;Available-for-sale financial assets&amp;#8221;: Assets recognized under this heading were measured at their fair value. Subsequent changes in fair value (gains or losses) were recognized temporarily ne&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;t of tax effect, under the heading &amp;#8220;Accumulated other comprehensive income- Items that may be reclassified to profit or loss -Available-for-sale financial assets&amp;#8221;.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&amp;#8220;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Loans and receivables&amp;#8221; and &amp;#8220;Held-to-maturity investments&amp;#8221;: Assets and liabilities recognized under these headings were subsequently measured at &amp;#8220;amortized cost&amp;#8221; using the &amp;#8220;effective interest rate&amp;#8221; method. This was because the consolidated entities generally intend to hold such fin&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;ancial instruments to maturity.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:18pt;text-align:justify;margin-top:0pt;margin-bottom:6pt;' &gt;&lt;span style='min-width:36pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Equity instruments whose fair valu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;e could not be determined in a sufficiently objective manner and financial derivatives that have those&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt; instruments as their underlying asset and are settled by delivery of those instruments were recorded at acquisition cost; adjusted, where appropriate, fo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;r any impairment loss.&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;/div&gt;</bbva:Measurementoffinancialassetsandliabilitiesunderias39applicableinthefinancialyears2017and2016>
  <ifrs-full:InformationOnHowEntityAppliedClassificationRequirementsInIFRS9ToFinancialAssetsWhoseClassificationHasChangedAsResultOfApplyingIFRS9 id="ID_10138" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">Classification and measurement of financial assets
Classification of financial assets
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.
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 "solely payments of principle and interest" criterion (hereinafter, the SPPI).
A debt instrument will be classified in the amortized cost portfolio if the two following conditions are fulfilled:
The financial asset is managed within a business model whose purpose is to maintain the financial assets to maturity, to receive contractual cash flows; and
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.
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:
The financial asset is managed with a business model whose purpose combines collection of the contractual cash flows and sale of the assets, and
The contractual characteristics of the instrument generate cash flows which only represent the return of the principal and interest.
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.
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 &#8220;other comprehensive income&#8221;.
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.
Measurement of financial assets
All financial instruments are initially recognized at fair value, plus those transaction costs which are directly attributable to the issue of the particular instrument for those cases in which financial assets are not classified at fair value through profit or loss.
Excluding all 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.
&#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;
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. Financial assets are classified in &#8220;Financial assets designated at fair value through profit or loss&#8221; 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.
The assets recognized under these headings of the consolidated balance sheet are measured upon acquisition at fair value and changes in the fair value (gains or losses) are recognized as their net value under the headings &#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 and loss, net&#8221; and &#8220;Gains (losses) on financial assets designated at fair value through profit or loss, net&#8221; in the accompanying consolidated income statement  (see Note 41). Changes in fair value resulting from variations in foreign exchange rates are recognized under the heading Gains (losses) on financial assets and liabilities, net in the accompanying consolidated income statements (Note 41).
&#8221;Financial assets at fair value through other comprehensive income&#8221;
Debt instruments
Assets recognized under this heading in the consolidated balance sheets are measured at their fair value. This category of valuation implies the recognition of the information in the income statement as if it were an instrument valued at amortized cost, while the instrument is valued at fair value in the balance sheet. Thus, both the interests of these instruments and the exchange differences and impairment that arise in their case are recorded in the profit and loss account, while subsequent changes in its fair value (gains or losses) are recognized temporarily (by the amount 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).
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; continue to form part of the Group's consolidated equity until the corresponding asset is derecognized from the consolidated balance sheet or until a loss allowance 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; (see Note 41).
The net loss allowances in &#8220;Financial assets at fair value through other comprehensive income&#8221; over the year are recognized under the heading &#8220;Loss allowances on financial assets, net &#8211; Financial assets at fair value through other comprehensive income&#8221; (see Note 47) in the consolidated income statement for that period.
Interests of these instruments are recorded in the consolidated profit and loss account (see Note 37). Changes in foreign exchange rates are recognized under the heading &#8220;Exchange differences, net" in the accompanying consolidated income statements (see Note 41).
Equity instruments
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;.
&#8220;Financial assets at amortized cost&#8221;
The assets under this category are subsequently measured at amortized cost, using the effective interest rate method.
Net loss allowances 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.</ifrs-full:InformationOnHowEntityAppliedClassificationRequirementsInIFRS9ToFinancialAssetsWhoseClassificationHasChangedAsResultOfApplyingIFRS9>
  <bbva:Mainobservableinputs id="ID_10139" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Issuer&#180;s credit risk
- Current market interest rates
- Funding interest rates observed in the market or in consensus services
- Exchange rates</bbva:Mainobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10140" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Prepayment rates
- Issuer&#180;s credit risk
- Recovery rates</bbva:Mainunobservableinputs>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_10141" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_LoansandadvancesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Present-value method
(Discounted future cash flows)</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <bbva:Mainobservableinputs id="ID_10142" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_LoansandadvancesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Issuer&#180;s credit risk
- Current market interest rates
- Funding interest rates observed in the market or in consensus services
- Exchange rates</bbva:Mainobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10143" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_LoansandadvancesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Prepayment rates
- Issuer&#180;s credit risk
- Recovery rates</bbva:Mainunobservableinputs>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_10144" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Present-value method
(Discounted future cash flows)
Observed prices in non active markets</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <bbva:Mainobservableinputs id="ID_10145" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Issuer&#180;s credit risk
- Current market interest rates
- Non active markets prices</bbva:Mainobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10146" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Prepayment rates
- Issuer&#180;s credit risk
- Recovery rates</bbva:Mainunobservableinputs>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_10147" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Comparable pricing (Observable price in a similar market)
Present-value method</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <bbva:Mainobservableinputs id="ID_10148" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Brokers quotes
- Market operations
- NAVs published</bbva:Mainobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10149" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- NAV provided by the administrator of the funds</bbva:Mainunobservableinputs>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_10150" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_InterestratehedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Interest rate products (Interest rate Swaps, Call money Swaps y FRA): Discounted cash flows
Caps/Floors: Black, Hull-White y  SABR
Bond options: Black
Swaptions: Black, Hull-White y LGM
Other Interest rate Options: Black, Hull-White y LGM
Constant Maturity Swaps: SABR</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <bbva:Mainobservableinputs id="ID_10151" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_InterestratehedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_10152" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_EquityhedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_10153" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_10154" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_CredithedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_10155" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_CommoditieshedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10156" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_InterestratehedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Beta
- Implicit correlations between tenors
- interest rates volatility</bbva:Mainunobservableinputs>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_10157" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_EquityhedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Future and Equity Forward: Discounted future cash flows
Equity Options: Local Volatility, Momentum adjustment</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_10158" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Future and Equity Forward: Discounted future cash flows
Foreign exchange Options: Local volatility, moments adjustment</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_10159" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_CredithedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Credit Derivatives: Default model and Gaussian copula</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_10160" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_CommoditieshedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Commodities: Momentum adjustment and discounted cash flows</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <bbva:Mainunobservableinputs id="ID_10161" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_EquityhedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Volatility of volatility
- Implicit assets correlations
- Long term implicit correlations
- Implicit dividends and long term repos</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10162" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Volatility of volatility
- Implicit assets correlations
- Long term implicit correlations</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10163" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_HedgederivativesclassesaxisAxis_bbva_CredithedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Correlation default
- Credit spread
- Recovery rates
- Interest rate yield
- Default volatility</bbva:Mainunobservableinputs>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_10164" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_LoansandadvancesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">-Present-value method
(Discounted future cash flows)
Specific criteria for the liquidation of losses established by the EPA protocol</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <bbva:Mainunobservableinputs id="ID_10165" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_LoansandadvancesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Prepayment rates
- Issuer credit risk
- Recovery rates
- PD and LGD</bbva:Mainunobservableinputs>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_10166" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Present-value method
(Discounted future cash flows)</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <bbva:Mainobservableinputs id="ID_10167" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Issuer credit risk
- Current market interest rates</bbva:Mainobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10168" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Prepayment rates
- Issuer credit risk
- Recovery rates</bbva:Mainunobservableinputs>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_10169" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Present-value method
(Discounted future cash flows)</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <bbva:Mainobservableinputs id="ID_10170" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Issuer credit risk
- Current market interest rates</bbva:Mainobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10171" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Prepayment rates
- Issuer credit risk
- Recovery rates</bbva:Mainunobservableinputs>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_10172" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Present-value method
(Discounted future cash flows)
Observed prices in non active markets</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <bbva:Mainobservableinputs id="ID_10173" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Issuer&#180;s credit risk
- Current market interest rates
- Non active market prices</bbva:Mainobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10174" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Prepayment rates
- Issuer credit risk
- Recovery rates</bbva:Mainunobservableinputs>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_10175" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Comparable pricing (Observable price in a similar market)
Present-value method</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <bbva:Mainobservableinputs id="ID_10176" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- Brokers quotes
- Market operations
- NAVs published</bbva:Mainobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10177" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">- NAV provided by the administrator of the fund</bbva:Mainunobservableinputs>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_10178" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesclassesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Future and Equity Forward: Discounted future cash flows
Foreign exchange Options: Local volatility, moments adjustment</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_10179" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesclassesaxisAxis_bbva_CredithedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Credit Derivatives: Default model and Gaussian copula</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_10180" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesclassesaxisAxis_bbva_CommoditieshedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Commodities: Momentum adjustment and Discounted cash flows</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_10181" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesclassesaxisAxis_bbva_InterestratehedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Interest rate products (Interest rate Swaps, Call money Swaps y FRA): Discounted cash flows
Caps/Floors: Black, Hull-White y  SABR
Bond options: Black
Swaptions: Black, Hull-White y LGM
Other Interest rate Options: Black, Hull-White y LGM
Constant maturity Swaps: SABR</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets id="ID_10182" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesclassesaxisAxis_bbva_EquityhedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">Future and Equity Forward: Discounted future cash flows
Equity Options: Local volatility, Momentum adjustment</ifrs-full:DescriptionOfValuationTechniquesUsedInFairValueMeasurementAssets>
  <bbva:Mainobservableinputs id="ID_10183" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesclassesaxisAxis_bbva_InterestratehedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_10184" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesclassesaxisAxis_bbva_EquityhedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_10185" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesclassesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_10186" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesclassesaxisAxis_bbva_CredithedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_10187" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesclassesaxisAxis_bbva_CommoditieshedgememberMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <ifrs-full:Assets id="ID_10188" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">62983000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10189" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">404000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10190" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_LoansandadvancesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">28642000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10191" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_LoansandadvancesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">60000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10192" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">7494000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10193" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">199000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10194" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10195" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">60000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10196" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">26846000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10197" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsheldfortradingMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DerivativesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">85000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10198" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">78000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10199" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">1929000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10200" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_LoansandadvancesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10201" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_LoansandadvancesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">1778000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10202" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">71000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10203" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">76000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10204" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">8000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10205" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_NontradingfinancialassetsmandatorilyatfairvaluethroughprofitorlossMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">75000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10206" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">9323000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10207" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">1190000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10208" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">9211000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10209" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_ifrs-full_DebtSecuritiesMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">711000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10210" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">113000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10211" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_FinancialassetsatfairvaluethroughothercomprehensiveincomeMember_bbva_FinancialinstrumentsunobservableinputsaxisAxis_bbva_EquityinstrumentsMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">479000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10212" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">2882000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10213" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofassetsobservableinputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_LevelsoffairvaluehierarchyobservableinputsaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">3000000</ifrs-full:Assets>
  <bbva:Valuationtecnniques id="ID_10214" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_EquityhedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">Future and Equity forward: Discounted future cash flows
Equity Options: Local volatility, momentum adjustment</bbva:Valuationtecnniques>
  <bbva:Valuationtecnniques id="ID_10215" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">Future and Equity Forward: Discounted future cash flows
Foreign exchange Options: Local volatility, moments adjustment</bbva:Valuationtecnniques>
  <bbva:Valuationtecnniques id="ID_10216" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_CredithedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">Credit Derivatives: Default model and Gaussian copula</bbva:Valuationtecnniques>
  <bbva:Valuationtecnniques id="ID_10217" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_CommoditieshedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">Commodities: Momentum adjustment and discounted cash flows</bbva:Valuationtecnniques>
  <bbva:Valuationtecnniques id="ID_10218" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_ShortpositionsMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">Present-value method
(Discounted future cash flows)</bbva:Valuationtecnniques>
  <bbva:Valuationtecnniques id="ID_10219" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_InterestratehedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">Interest rate products (Interest rate Swaps, call money Swaps y FRA): Discounted cash flows
Caps/Floors: Black, Hull-White y  SABR
Bond options: Black
Swaptions: Black, Hull-White y LGM
Other Interest rate Options: Black, Hull-White y LGM
Constant Maturity Swaps: SABR</bbva:Valuationtecnniques>
  <bbva:Mainobservableinputs id="ID_10220" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_InterestratehedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_10221" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_EquityhedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_10222" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_10223" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_CredithedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_10224" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_CommoditieshedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10225" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_InterestratehedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">- Beta
- Correlation between tenors
- Interest rates volatility</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10226" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_EquityhedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">- Volatility of volatility
- Assets correlation</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10227" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">- Volatility of volatility
- Assets correlation</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10228" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_CredithedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">- Correlation default
- Credit spread
- Recovery rates
- Interest rate yield
- Default volatility</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10229" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_ShortpositionsMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">- Correlation default
- Credit spread
- Recovery rates
- Interest rate yield</bbva:Mainunobservableinputs>
  <bbva:Valuationtecnniques id="ID_10230" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialassetsdesignatedatfairvaluethroughprofitorlossMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">Present-value method
(Discounted future cash flows)</bbva:Valuationtecnniques>
  <bbva:Mainobservableinputs id="ID_10231" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialassetsdesignatedatfairvaluethroughprofitorlossMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">- Prepayment rates
- Issuer&#180;s credit risk
- Current market interest rates</bbva:Mainobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10232" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialassetsdesignatedatfairvaluethroughprofitorlossMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">- Prepayment rates
- Issuer&#180;s credit risk
- Current market interest rates</bbva:Mainunobservableinputs>
  <bbva:Valuationtecnniques id="ID_10233" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_InterestratehedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">Interest rate products (Interest rate Swaps, Call money Swaps y FRA): Discounted cash flows
Caps/Floors: Black, Hull-White y  SABR
Bond options: Black
Swaptions: Black, Hull-White y LGM
Other Interest rate Options: Black, Hull-White y LGM
Constant Maturity Swaps: SABR</bbva:Valuationtecnniques>
  <bbva:Valuationtecnniques id="ID_10234" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_EquityhedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">Future and Equity Forward: Discounted future cash flows
Equity Options: Local volatility, momentum adjustment</bbva:Valuationtecnniques>
  <bbva:Valuationtecnniques id="ID_10235" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">Future and Equity Forward: Discounted future cash flows
Foreign exchange Options: Local Volatility, moments adjustment</bbva:Valuationtecnniques>
  <bbva:Valuationtecnniques id="ID_10236" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_CredithedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">Credit Derivatives: Default model and Gaussian copula</bbva:Valuationtecnniques>
  <bbva:Valuationtecnniques id="ID_10237" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_CommoditieshedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">Commodities: Momentum adjustment and discounted cash flows</bbva:Valuationtecnniques>
  <bbva:Mainobservableinputs id="ID_10238" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_InterestratehedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_10239" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_EquityhedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_10240" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_10241" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_CredithedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainobservableinputs id="ID_10242" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_CommoditieshedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">-  Exchange rates
-  Market quoted future prices
-  Market interest rates
-  Underlying assets prices: shares, funds, commodities
-  Market observable volatilities
-  Issuer credit spread levels
-  Quoted dividends
-  Market listed correlations</bbva:Mainobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10243" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_InterestratehedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">- Beta
- Implicit correlations between tenors
- interest rates volatility</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10244" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_EquityhedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">- Volatility of volatility
- Implicit assets correlations
- Long term implicit correlations
- Implicit dividends and long term repos</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10245" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_ForeignexchangeandgoldhedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">- Volatility of volatility
- Implicit assets correlations
- Long term implicit correlations</bbva:Mainunobservableinputs>
  <bbva:Mainunobservableinputs id="ID_10246" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_CredithedgememberMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_bbva_TotalMember">- Correlation default
- Credit spread
- Recovery rates
- Interest rate yield
- Default volatility</bbva:Mainunobservableinputs>
  <ifrs-full:Liabilities id="ID_10247" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">57573000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10248" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">269000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10249" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_DepositsMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">29945000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10250" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_DepositsMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">0</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10251" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_ifrs-full_DerivativesMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">27628000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10252" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_ifrs-full_DerivativesMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">267000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10253" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialassetsdesignatedatfairvaluethroughprofitorlossMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">4478000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10254" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialassetsdesignatedatfairvaluethroughprofitorlossMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">2515000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10255" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_FinancialliabilitiesheldfortradingMember_bbva_HedgederivativesobservalbeinputsliabilitiesaxisAxis_bbva_ShortpositionsMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">1000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10256" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level2OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">2454000000</ifrs-full:Liabilities>
  <ifrs-full:Liabilities id="ID_10257" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_ClassesofliabilitiessignificantobservableimputsaxisAxis_bbva_DerivativeshedgeaccountingMember_bbva_LevelsoffairvaluehierarchyliabilitiesobserableinputosaxisAxis_ifrs-full_Level3OfFairValueHierarchyMember" unitRef="EUR" decimals="INF">3000000</ifrs-full:Liabilities>
  <ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory id="ID_10258" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:11pt;font-weight:bold;margin-left:0pt;color:#072146;' &gt;32.   Capital base and capital 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;font-weight:bold;margin-left:0pt;color:#004580;' &gt;32.1   Capital base&lt;/font&gt;&lt;/p&gt;&lt;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;As of December 31, 2019, 2018 and 2017, equity is calculated in accordance to the applicable regulation of each year on minimum capital base requirements &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &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:8pt;' &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:8pt;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:8pt;' &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:8pt;margin-left:0pt;' &gt;With regard to BBVA, after the supervisory review and evaluation process (&amp;#8220;SREP&amp;#8221;) carried o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ut by the ECB, the Group has received the communication to maintain, from January 1, 2020 on a consolidated basis, a CET1 capital ratio of 9.27% and a total capital ratio of 12.77%.&lt;/font&gt;&lt;/p&gt;&lt;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;This total capital requirement at consolidated level includes: i) a Pillar&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; 1 requirement of 8% that should be fulfilled by a minimum of 4.5% of CET1; ii) a Pillar 2 requirement of 1.5% of CET1 that remains at the same level as the one included in the previous SREP decision; iii) a Capital Conservation buffer of 2.5% of CET1; iv)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; the Other Systemic Important Institution buffer (OSII) of 0.75% of CET1; and v) the Countercyclical Capital buffer 0.02% of CET1.&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:8pt;margin-left:0pt;' &gt;The ECB Pillar 2 requirement remains at the same level as the one established in the last SREP decision, being the sole diffe&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;rence the evolution of the Countercyclical Capital buffer of 0.01% approximately.&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:8pt;margin-left:0pt;' &gt;A reconciliation of the main figures between the accounting and regulatory own funds as of December 31, 2019, 2018 and 2017 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:591pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:591pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Eligible capital resources (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.9pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &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:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Notes&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;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:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Capital&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,267&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,267&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:345pt;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Share premium&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,992&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,992&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:345pt;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Retained earnings, revaluation reserves and other reserves&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26,277&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,021&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;23,724&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other equity instruments, net&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;50&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;54&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Treasury shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(62)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(296)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:9.75pt;' &gt;&lt;td style='width:345pt;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Attributable to the parent company&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,512&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,400&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,514&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Attributable dividend&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1,172)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;55,958&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;54,326&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;53,283&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Accumulated other comprehensive income&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;30&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7,235)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7,215)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6,939)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Non-controlling interest&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,764&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,979&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Shareholders&amp;#39; equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;54,925&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;52,874&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Goodwill and other intangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6,803)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(8,199)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6,627)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Direct and synthetic treasury shares&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(422)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(135)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Deductions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(7,225)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(8,334)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(6,809)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Temporary CET 1 adjustments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(273)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:61.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;(256)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:61.5pt;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &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:61.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#000000;' &gt;(17)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Differences from solvency and accounting level&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(215)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(176)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(189)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Equity not eligible at solvency level&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(215)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(462)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Other adjustments and deductions (1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(3,832)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(4,049)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(3,711)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Common Equity Tier 1 (CET 1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;43,653&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;40,313&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;42,341&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Additional Tier 1 before Regulatory Adjustments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,048&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;5,634&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;6,296&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total Regulatory Adjustments of Additional Tier 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(1,657)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Tier 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;49,701&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;45,947&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;46,980&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Tier 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,304&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,756&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;8,798&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total Capital (Total Capital=Tier 1 + Tier 2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;58,005&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;54,703&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;55,778&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:345pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;Total Minimum equity required&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &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:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;46,540&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;41,576&lt;/font&gt;&lt;/td&gt;&lt;td style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:61.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;40,370&lt;/font&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:6pt;margin-left:0pt;' &gt;(1) Other &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;adjustments and deductions includes the amount of minority interest not eligible as capital, amount of dividends not distributed and other deductions and filters set by the CRR.&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:8pt;margin-left:0pt;' &gt;The Group&amp;#8217;s bank capital in accordance with the aforementioned applicable regu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;lation as of December 31, 2019, 2018 and 2017 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:9pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:446.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:446.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;Amount of capital CC1 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:241.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &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:241.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:241.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Capital and share premium &lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27,259&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27,259&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27,259&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:241.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Retained earnings and equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;26,960&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23,773&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23,791&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:241.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other accumulated income and other reserves&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(7,157)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(7,143)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(6,863)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:241.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Minority interests&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,404&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,809&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,446&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:241.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Net interim attributable profit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,316&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,188&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,302&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:241.5pt;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:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Ordinary Tier 1 (CET 1) before other reglamentary adjustments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;52,783&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;50,887&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;50,935&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:241.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Goodwill and intangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(6,803)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(8,199)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(6,627)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:241.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Direct and indirect holdings in equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(484)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(432)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(278)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:241.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Deferred tax assets &lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,420)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,260)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(755)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:241.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other deductions and filters&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(423)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(682)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(933)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:241.5pt;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:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Total common equity Tier 1 reglamentary adjustments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;(9,130)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;(10,573)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;(8,594)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:241.5pt;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:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Common equity TIER 1 (CET1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;43,653&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;40,313&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;42,341&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:241.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Equity instruments and share premium classified as liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,400&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,005&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,893&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:241.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Qualifying Tier 1 capital included in consolidated AT1 capital issued by subsidiaries and held by third parties&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;648&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;629&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;403&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:241.5pt;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:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Additional Tier 1 (CET 1) before regulatory adjustments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;6,048&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;5,634&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;6,296&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:241.5pt;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:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Temporary CET 1 adjustments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,657)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:241.5pt;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:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Total regulatory adjustments of additional equity l Tier 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &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:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &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:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;(1,657)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:241.5pt;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:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Additional equity Tier 1  (AT1) &lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;6,048&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;5,634&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;4,639&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:241.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Tier 1 (Common equity TIER 1+ additional TIER 1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;49,701&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;45,947&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;46,980&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:241.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Equity instruments and share premium accounted as Tier 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,064&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,768&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,759&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:241.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Eligible equity instruments &lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,690&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,409&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6,438&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:241.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Credit risk adjustments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;550&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;579&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;601&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:241.5pt;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:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Tier 2 before regulatory adjustments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;8,304&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;8,756&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;8,798&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:241.5pt;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:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Tier 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;8,304&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;8,756&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;8,798&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:241.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Total capital (Total capital=Tier 1 + Tier 2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;58,005&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;54,703&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;55,778&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:241.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Total RWA&amp;#39;s&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;364,448&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;348,264&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;362,875&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:241.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;CET 1 (phased-in)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11.6%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11.7%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:241.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Tier 1 (phased-in)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13.6%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13.2%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12.9%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:241.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Total capital (phased-in)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15.9%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15.7%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15.4%&lt;/font&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:8pt;margin-left:0pt;' &gt;As of December 2019 Common Equity Tier 1 (CET1) phased-in ratio&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;(1) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;stood at 11.98%, including the impact of IFRS 16 standard&amp;#8217;s implementation that entered into force on Ja&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;nuary 1, 2019 (-11 basis points). Compared to December 2018, the ratio increased by +40 basis points supported by the profit generation, net of dividend payments and remuneration of contingent convertible capital instruments (CoCos), notwithstanding the mo&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;derate growth of risk-weighted 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:8pt;margin-left:0pt;' &gt;In addition, the impairment of the goodwill &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;in the United States CGU&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; recognized by the Group amounting to &amp;#8364;1,318 million has&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; had&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; no impact on the regulatory own funds (see Note 18.1).&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:8pt;margin-left:0pt;' &gt;Risk-weighted assets (RWAs) &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;increased by approximately &amp;#8364;16,100 million in 2019 as a result of activity growth, mainly in emerging markets, and the impact of regulatory changes (the application of IFRS 16 and TRIM - Targeted Review of Internal Models) for approximately &amp;#8364;7,600 million &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;(with an impact on the CET1 ratio of -25 basis points. It should be noted that during the second quarter of 2019, the recognition by the European Commission of Argentina as a country whose supervis&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ory and regulatory requirements(2)&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; are considered equivalen&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;t had a positive effect on the evolution of the RWAs&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:0pt;margin-bottom:10pt;line-height:13.8pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The Additional tier 1 capital (AT1) phased-in ratio stood at 1.66% as of December 31, 2019. In this regard, BBVA S.A. carried out an issue of &amp;#8364;1,000 million CoCos, registered at the Spanish Securities M&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;arket Commission (CNMV) and another issue of the same type of instruments, registered in the Securities and Exchange Commission (hereinafter, SEC) for USD 1,000 million.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;On the other hand, in February 2020 the CoCos issuance of &amp;#8364; 1,500 million issued in Fe&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;bruary 2015 will be amortized. As of December 31, 2019, it is no longer included in the capital ratios.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;Finally, in terms of issues eligible as Tier 2 capital, BBVA S.A. issu&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ed&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &amp;#8364; 750 million &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;of &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;subordinated debt and carried out the early redemption of two &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;subordinated-debt issues; one for &amp;#8364;1,500 million redeemed in April 2019, and another issued in June 2009 by Caixa d&amp;#39;Estalvis de Sabadell with an outstanding nominal amount of &amp;#8364;4.9 million and redeemed in June 2019.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;With regard to the subsidiaries of the Gr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;oup, BBVA Mexico carried out a Tier 2 issuance of USD 750 million and partially repurchased two subordinated debt issuances ($250 million due in 2020 and $500 million due in 2021). Meanwhile, Garanti BBVA issued another Tier 2 issuance of TRY 253 million.&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:8pt;margin-left:0pt;' &gt;All of this, together with the evolution of the remaining elements eligible as Tier 2 capital, set the Tier 2 phased in ratio at 2.28% as of December 31, 2019. In addition, during the beginning of 2020, two subordinated debts were issued, BBVA,&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; S&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;.A. issued&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; &amp;#8364;1,000 million, and Garanti BBVA issued 750 million of Turkish Liras. These issuances will be included in the capital ratios for the first quarter of 2020 with an estimated impact of approximately +28 basis points on the T2 capital ratio.&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:8pt;margin-left:0pt;' &gt;These levels are&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt; above the requirements established by the supervisor in its SREP letter applicable in 2019, also above the appli&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;cable requirements from January 1, &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;2020.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:5pt;margin-bottom:5pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;In November 2019, BBVA received a new communication from the Bank of Spain regarding its minimum &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;requirement for own funds and eligible liabilities (MREL), as determined by the Single Resolution Board, that was calculated taking into account the financial and supervisory information as of December 31, 2017.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:left;margin-top:5pt;margin-bottom:5pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;In accordance with such communication, BBVA &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;has to reach, by January 1, 2021, an amount of own funds and eligible liabilities equal to 15.16% of the total liabilities and own funds of its resolution group, on sub-consolidated basis (the MREL requirement). Within this MREL, an amount equal to 8.01% o&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;f the total liabilities and own funds shall be met with subordinated instruments (the subordination requirement), once the relevant allowance is applied.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:5pt;margin-bottom:5pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;This MREL requirement is equal to 28.50% in terms of risk-weighted assets (RWAs), while the subordinat&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ion requirement included in the MREL requirement is equal to 15.05% in terms of RWAs, once the relevant allowance has been applied.&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;In order to comply with this requirement, BBVA has continued its issuance program during 2019 by closing three senior non-pr&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;eferred debt issuances, for a total of &amp;#8364; 3,000 million, of which one consists in green bonds (&amp;#8364; 1,000 million). In addition, BBVA issued &amp;#8364;1,000 million of senior preferred debt&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:5pt;margin-bottom:5pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;margin-left:0pt;' &gt;The Group estimates that the current own funds and eligible liabilities struct&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ure of the resolution group meets the MREL requirement, as well as the new subordination requirement.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(1)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;This CET1 phased-in ratio includes the impact of the initial implementation of IFRS 9. In this context, the European Commission and Parliament have &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;established temporary arrangements, which implementation is voluntary, which seek to phase-in the impact of IFRS 9 on capital ratios. BBVA has informed the supervisory board of its adherence to these arrangements.&lt;/font&gt;&lt;/p&gt;&lt;p style='text-align:justify;margin-top:12pt;margin-bottom:10pt;line-height:12pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;margin-left:0pt;' &gt;(2)   &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;On April 1, 2019, the Official Journ&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;al of the European Union published Commission Implementing Decision (EU) 2019/536, which includes Argentina within the list of third countries and territories whose supervisory and regulatory requirements are considered equivalent for the purposes of the t&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;' &gt;reatment of exposures in accordance with Regulation (EU) No. 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:11pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;32.2   Leverage ratio&lt;/font&gt;&lt;/p&gt;&lt;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;The leverage ratio (LR) is a regulatory measure complementing capital designed to guarantee the soundness and financial strength of instit&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;utions in terms of indebtedness. This measurement can be used to estimate the percentage of the assets and off-balance sheet arrangements financed with Tier 1 capital,  the carrying amount of the assets used in this ratio is adjusted to reflect the bank&amp;#8217;s &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;current or potential leverage with a given balance-sheet position (Leverage ratio 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:8pt;margin-left:0pt;' &gt;Breakdown of capital base as of December 31, 2019, 2018 and 2017, calculated according to CCR, 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:517.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:517.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Capital Base &lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:27pt;' &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:middle;border-color:Black;min-width:250.5pt;' &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:66.75pt;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:66.75pt;' &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:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;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:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&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;Tier 1 (millions of euros) (a)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;49,701&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;45,947&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;46,980&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;Exposure (millions of euros) (b)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;731,087&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;705,299&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;709,758&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;Leverage ratio (a)/(b) (percentage)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.80%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &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:66.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:66.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.62%&lt;/font&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:11pt;font-weight:bold;margin-left:0pt;color:#004580;' &gt;32.3   Capital 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:8pt;margin-left:0pt;' &gt;Capi&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;tal management in the BBVA Group has a twofold aim:&lt;/font&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:4pt;margin-bottom:4pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Maintain a level of capitalization according to the business objectives in all countries in which it operates and, simultaneously,&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p style='display:flex;margin-left:17.85pt;text-align:justify;margin-top:4pt;margin-bottom:4pt;' &gt;&lt;span style='min-width:35.7pt;text-align:right;font-family:Symbol;font-size:8pt;' &gt;&amp;#61623;&lt;/span&gt;&lt;span style='text-indent:5pt;margin-left:5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;Maximize the return on shareholders&amp;#8217; funds through the efficient allocati&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;on 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&amp;#8217;s equity: shares, preferred securities and subordinated debt.&lt;/font&gt;&lt;/span&gt;&lt;/p&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;This capital management is carried out &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;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.&lt;/font&gt;&lt;/p&gt;&lt;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;The current regulation allows each entity to apply i&lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;ts 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 &lt;/font&gt;&lt;font style='font-family:Arial;font-size:8pt;' &gt;estimation model has received the Bank of Spain&amp;#8217;s approval for certain portfolios (see Note 7).&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory>
  <bbva:Subordinateddeposits id="ID_10259" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="INF">427000000</bbva:Subordinateddeposits>
  <bbva:Subordinatedsecurities id="ID_10260" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="INF">16889000000</bbva:Subordinatedsecurities>
  <bbva:Preferredsecurities id="ID_10261" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="INF">161000000</bbva:Preferredsecurities>
  <bbva:Convertiblecompoundfinancialinstruments id="ID_10262" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="INF">6585000000</bbva:Convertiblecompoundfinancialinstruments>
  <bbva:Othernonconvertiblesubordinatedfinancing id="ID_10263" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="INF">10143000000</bbva:Othernonconvertiblesubordinatedfinancing>
  <bbva:Total id="ID_10264" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="INF">17316000000</bbva:Total>
  <bbva:Total id="ID_10265" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">18018000000</bbva:Total>
  <bbva:Total id="ID_10266" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">18047000000</bbva:Total>
  <ifrs-full:CashOnHand id="ID_10267" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">7060000000</ifrs-full:CashOnHand>
  <ifrs-full:CashOnHand id="ID_10268" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">6346000000</ifrs-full:CashOnHand>
  <ifrs-full:CashOnHand id="ID_10269" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="INF">6220000000</ifrs-full:CashOnHand>
  <ifrs-full:CashAndBankBalancesAtCentralBanks id="ID_10270" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">36031000000</ifrs-full:CashAndBankBalancesAtCentralBanks>
  <ifrs-full:CashAndBankBalancesAtCentralBanks id="ID_10271" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">47821000000</ifrs-full:CashAndBankBalancesAtCentralBanks>
  <ifrs-full:CashAndBankBalancesAtCentralBanks id="ID_10272" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="INF">39018000000</ifrs-full:CashAndBankBalancesAtCentralBanks>
  <ifrs-full:OtherFinancialAssets id="ID_10273" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">0</ifrs-full:OtherFinancialAssets>
  <ifrs-full:OtherFinancialAssets id="ID_10274" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">0</ifrs-full:OtherFinancialAssets>
  <ifrs-full:OtherFinancialAssets id="ID_10275" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="INF">0</ifrs-full:OtherFinancialAssets>
  <ifrs-full:BankOverdraftsClassifiedAsCashEquivalents id="ID_10276" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">0</ifrs-full:BankOverdraftsClassifiedAsCashEquivalents>
  <ifrs-full:BankOverdraftsClassifiedAsCashEquivalents id="ID_10277" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">0</ifrs-full:BankOverdraftsClassifiedAsCashEquivalents>
  <ifrs-full:BankOverdraftsClassifiedAsCashEquivalents id="ID_10278" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="INF">0</ifrs-full:BankOverdraftsClassifiedAsCashEquivalents>
  <bbva:Cashandcashequivalentsstatementsofcashflows id="ID_10279" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">43090000000</bbva:Cashandcashequivalentsstatementsofcashflows>
  <bbva:Cashandcashequivalentsstatementsofcashflows id="ID_10280" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">54167000000</bbva:Cashandcashequivalentsstatementsofcashflows>
  <bbva:Cashandcashequivalentsstatementsofcashflows id="ID_10281" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="INF">45239000000</bbva:Cashandcashequivalentsstatementsofcashflows>
  <bbva:Cashandcashequivalentsstatementsofcashflows id="ID_10282" contextRef="AS_OF_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="INF">44978000000</bbva:Cashandcashequivalentsstatementsofcashflows>
  <bbva:Ofwhichprospectivechangesinaccountingpolicies id="ID_10283" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_ComponentsOfEquityAxis_ifrs-full_RetainedEarningsMember" unitRef="EUR" decimals="INF">-851000000</bbva:Ofwhichprospectivechangesinaccountingpolicies>
  <bbva:Ofwhichprospectivechangesinaccountingpolicies id="ID_10284" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_ComponentsOfEquityAxis_ifrs-full_RevaluationSurplusMember" unitRef="EUR" decimals="INF">0</bbva:Ofwhichprospectivechangesinaccountingpolicies>
  <bbva:Ofwhichprospectivechangesinaccountingpolicies id="ID_10285" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_ComponentsOfEquityAxis_ifrs-full_OtherReservesMember" unitRef="EUR" decimals="INF">0</bbva:Ofwhichprospectivechangesinaccountingpolicies>
  <bbva:Ofwhichprospectivechangesinaccountingpolicies id="ID_10286" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_ComponentsOfEquityAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">0</bbva:Ofwhichprospectivechangesinaccountingpolicies>
  <bbva:Ofwhichprospectivechangesinaccountingpolicies id="ID_10287" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_ComponentsOfEquityAxis_ifrs-full_EquityAttributableToOwnersOfParentMember" unitRef="EUR" decimals="INF">0</bbva:Ofwhichprospectivechangesinaccountingpolicies>
  <bbva:Ofwhichprospectivechangesinaccountingpolicies id="ID_10288" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_ComponentsOfEquityAxis_bbva_InterimdividendsMember" unitRef="EUR" decimals="INF">0</bbva:Ofwhichprospectivechangesinaccountingpolicies>
  <bbva:Ofwhichprospectivechangesinaccountingpolicies id="ID_10289" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_ComponentsOfEquityAxis_ifrs-full_AccumulatedOtherComprehensiveIncomeMember" unitRef="EUR" decimals="INF">-97000000</bbva:Ofwhichprospectivechangesinaccountingpolicies>
  <bbva:Ofwhichprospectivechangesinaccountingpolicies id="ID_10290" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_ComponentsOfEquityAxis_ifrs-full_NoncontrollingInterestsMember" unitRef="EUR" decimals="INF">23000000</bbva:Ofwhichprospectivechangesinaccountingpolicies>
  <bbva:Ofwhichprospectivechangesinaccountingpolicies id="ID_10291" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_ComponentsOfEquityAxis_bbva_RestnoncontrollinginterestsMember" unitRef="EUR" decimals="INF">7000000</bbva:Ofwhichprospectivechangesinaccountingpolicies>
  <bbva:Ofwhichprospectivechangesinaccountingpolicies id="ID_10292" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_ComponentsOfEquityAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">-919000000</bbva:Ofwhichprospectivechangesinaccountingpolicies>
  <bbva:Ofwhichretrospectivechangesinaccountingpolicies id="ID_10293" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_ComponentsOfEquityAxis_ifrs-full_RetainedEarningsMember" unitRef="EUR" decimals="INF">-1728000000</bbva:Ofwhichretrospectivechangesinaccountingpolicies>
  <bbva:Ofwhichretrospectivechangesinaccountingpolicies id="ID_10294" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_ComponentsOfEquityAxis_ifrs-full_RevaluationSurplusMember" unitRef="EUR" decimals="INF">0</bbva:Ofwhichretrospectivechangesinaccountingpolicies>
  <bbva:Ofwhichretrospectivechangesinaccountingpolicies id="ID_10295" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_ComponentsOfEquityAxis_ifrs-full_OtherReservesMember" unitRef="EUR" decimals="INF">9000000</bbva:Ofwhichretrospectivechangesinaccountingpolicies>
  <bbva:Ofwhichretrospectivechangesinaccountingpolicies id="ID_10296" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_ComponentsOfEquityAxis_ifrs-full_TreasurySharesMember" unitRef="EUR" decimals="INF">0</bbva:Ofwhichretrospectivechangesinaccountingpolicies>
  <bbva:Ofwhichretrospectivechangesinaccountingpolicies id="ID_10297" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_ComponentsOfEquityAxis_ifrs-full_EquityAttributableToOwnersOfParentMember" unitRef="EUR" decimals="INF">-5000000</bbva:Ofwhichretrospectivechangesinaccountingpolicies>
  <bbva:Ofwhichretrospectivechangesinaccountingpolicies id="ID_10298" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_ComponentsOfEquityAxis_bbva_InterimdividendsMember" unitRef="EUR" decimals="INF">-129000000</bbva:Ofwhichretrospectivechangesinaccountingpolicies>
  <bbva:Ofwhichretrospectivechangesinaccountingpolicies id="ID_10299" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_ComponentsOfEquityAxis_ifrs-full_AccumulatedOtherComprehensiveIncomeMember" unitRef="EUR" decimals="INF">1853000000</bbva:Ofwhichretrospectivechangesinaccountingpolicies>
  <bbva:Ofwhichretrospectivechangesinaccountingpolicies id="ID_10300" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_ComponentsOfEquityAxis_ifrs-full_NoncontrollingInterestsMember" unitRef="EUR" decimals="INF">828000000</bbva:Ofwhichretrospectivechangesinaccountingpolicies>
  <bbva:Ofwhichretrospectivechangesinaccountingpolicies id="ID_10301" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_ComponentsOfEquityAxis_bbva_RestnoncontrollinginterestsMember" unitRef="EUR" decimals="INF">-828000000</bbva:Ofwhichretrospectivechangesinaccountingpolicies>
  <bbva:Ofwhichretrospectivechangesinaccountingpolicies id="ID_10302" contextRef="FROM_Jan01_2018_TO_Dec31_2018_Entity_0000842180_ifrs-full_ComponentsOfEquityAxis_bbva_TotalMember" unitRef="EUR" decimals="INF">0</bbva:Ofwhichretrospectivechangesinaccountingpolicies>
  <bbva:Loansandadvancesimpairedandaccumulatedimpairment id="ID_10303" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:606pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:606pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:90.75pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:261pt;' &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: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:#072146;' &gt;Gross carrying amount&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:#072146;' &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: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:#072146;' &gt;Accumulated impairment &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:#072146;' &gt;Non-performing loans and advances as a % of the total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:14.25pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Central banks&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:#004481;' &gt;4,285&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:#004481;' &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: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:#004481;' &gt;(9)&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:#004481;' &gt;0.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;font-weight:bold;color:#004481;' &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:#004481;' &gt;28,281&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:#004481;' &gt;88&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:#004481;' &gt;(60)&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:#004481;' &gt;0.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;font-weight:bold;color:#004481;' &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:#004481;' &gt;13,664&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:#004481;' &gt;6&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:#004481;' &gt;(15)&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:#004481;' &gt;0.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;font-weight:bold;color:#004481;' &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:#004481;' &gt;11,239&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:#004481;' &gt;17&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:#004481;' &gt;(31)&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:#004481;' &gt;0.2%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;font-weight:bold;color:#004481;' &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:#004481;' &gt;173,254&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:#004481;' &gt;8,467&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:#004481;' &gt;(6,465)&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:#004481;' &gt;4.9%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;3,758&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;154&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;(124)&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;4.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;4,669&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;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;(86)&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;2.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;39,517&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;1,711&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;(1,242)&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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;12,305&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;684&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;(575)&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;5.6%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;900&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;14&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;(16)&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;1.6%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;10,945&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;1,377&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;(876)&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;12.6%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;27,467&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;1,799&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;(1,448)&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;6.6%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;9,638&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;507&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;(392)&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;5.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;8,703&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;279&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;(203)&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;3.2%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Information and communications&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;6,316&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;95&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;(65)&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;1.5%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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: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;6,864&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;191&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;(140)&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;2.8%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;19,435&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;782&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;(527)&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;4.0%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;4,375&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;167&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;(140)&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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;3,415&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;118&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;(134)&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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;282&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&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;1.7%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;903&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;41&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;4.5%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;4,696&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;66&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;(55)&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;1.4%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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;1,396&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;47&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;(39)&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:13.5pt;' &gt;&lt;td style='width:261pt;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: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;7,671&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;331&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;(360)&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: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:8pt;font-weight:bold;color:#004481;' &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:#004481;' &gt;181,989&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:#004481;' &gt;7,381&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:#004481;' &gt;(5,847)&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:#004481;' &gt;4.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:#5AC4C4;border-color:Black;min-width:261pt;' &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:#5AC4C4;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;412,711&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:#5AC4C4;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;15,959&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:#5AC4C4;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(12,427)&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:#5AC4C4;border-color:Black;min-width:86.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;3.9%&lt;/font&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='5' rowspan='1' style='width:582pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:582pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2018 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:67.5pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Gross carrying amount&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Non-performing loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Accumulated impairment &lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Non-performing loans and advances as a % of the total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:15.75pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Central Banks&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;3,947&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:13.5pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;General governments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;28,198&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(84)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;0.4%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Credit institutions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;9,175&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;10&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(12)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;0.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;9,490&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(22)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;0.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;170,182&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;8,372&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(6,260)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;4.9%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3,685&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;122&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(107)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;96&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(70)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Manufacturing&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;36,772&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;13,853&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;585&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(446)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;19&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(15)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Construction&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11,899&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;25,833&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,798&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;459&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(374)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;315&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(204)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,238&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;113&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(72)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6,929&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;147&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(128)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;17,272&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;834&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(624)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5,096&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;204&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(171)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(125)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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;tr style='height:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;319&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Education&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;912&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(31)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4,406&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;63&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(63)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:12.75pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1,323&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(41)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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:13.5pt;' &gt;&lt;td style='width:261pt;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:8pt;color:#000000;' &gt;Other services&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9,791&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;386&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(382)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &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: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:8pt;font-weight:bold;color:#004481;' &gt;Households&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;178,355&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;7,838&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(5,833)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;4.4%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:#5AC4C4;border-color:Black;min-width:261pt;' &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:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;399,347&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:80.25pt;' &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:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:80.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;(12,217)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:80.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:80.25pt;' &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:528.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:528.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;December 2017 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:45pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Non-performing&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Accumulated impairment or Accumulated changes in fair value due to credit risk&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &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: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:8pt;font-weight:bold;color:#004481;' &gt;General governments&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;171&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(111)&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;0.5%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Credit institutions&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;11&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(36)&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;0.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Other financial corporations&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;12&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(26)&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;0.1%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &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:8pt;font-weight:bold;color:#004481;' &gt;Non-financial corporations&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;10,791&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(7,538)&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;6.3%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;166&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(123)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;177&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(123)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:13.5pt;' &gt;&lt;td style='width:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Manufacturing&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(955)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;213&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(289)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;29&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Construction&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;441&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(353)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;362&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(222)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;984&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(256)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;252&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(183)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;188&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(130)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(6)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Education&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;31&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(25)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;75&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(68)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;text-align:left;vertical-align:middle;border-color:Black;min-width:261pt;' &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:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;69&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(38)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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:261pt;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:8pt;color:#000000;' &gt;Other services&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;690&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(716)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:89.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &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: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:8pt;font-weight:bold;color:#004481;' &gt;Households&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;8,417&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;(5,073)&lt;/font&gt;&lt;/td&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:right;vertical-align:middle;border-color:Black;min-width:89.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;4.7%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &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:#5AC4C4;border-color:Black;min-width:261pt;' &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:89.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:89.25pt;' &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:89.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:89.25pt;' &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:89.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:89.25pt;' &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;</bbva:Loansandadvancesimpairedandaccumulatedimpairment>
  <bbva:Changesinvaluecorrectionsloansandadvancesatamortizedcost id="ID_10304" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:445.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:445.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;Changes in allowances of loans and advances at amortized cost. December 2019 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:24pt;' &gt;&lt;td style='width:145.5pt;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:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &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;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Stage 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;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &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:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Opening 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:#5AC4C4;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(2,082)&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:#5AC4C4;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(2,375)&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:#5AC4C4;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(7,761)&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:#5AC4C4;border-color:Black;min-width: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;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Transfers of financial assets:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;176&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(227)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,574)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,626)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:145.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Transfers from stage 1 to Stage 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:7pt;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:7pt;color:#000000;' &gt;(649)&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:7pt;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:7pt;color:#000000;' &gt;(523)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:145.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Transfers from stage 2 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:7pt;color:#000000;' &gt;(38)&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:7pt;color:#000000;' &gt;273&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:7pt;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:7pt;color:#000000;' &gt;235&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:145.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;89&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:7pt;color:#000000;' &gt;234&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:7pt;color:#000000;' &gt;(1,810)&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:7pt;color:#000000;' &gt;(1,487)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:145.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Transfers from 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:7pt;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:7pt;color:#000000;' &gt;(86)&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:7pt;color:#000000;' &gt;236&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:7pt;color:#000000;' &gt;149&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:145.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Net annual origination of allowances&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:7pt;color:#000000;' &gt;(542)&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:7pt;color:#000000;' &gt;(116)&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:7pt;color:#000000;' &gt;(1,711)&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:7pt;color:#000000;' &gt;(2,370)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:145.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Becoming&amp;#160;&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#181818;' &gt;write-&lt;/font&gt;&lt;font style='font-family:Arial;font-size:7pt;color:#0C0C0C;' &gt;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:7pt;color:#000000;' &gt;130&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:7pt;color:#000000;' &gt;337&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:7pt;color:#000000;' &gt;2,789&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:7pt;color:#000000;' &gt;3,256&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:145.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;(30)&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:7pt;color:#000000;' &gt;(18)&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:7pt;color:#000000;' &gt;69&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:7pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:18pt;' &gt;&lt;td style='width:145.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;(15)&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:7pt;color:#000000;' &gt;(149)&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:7pt;color:#000000;' &gt;(89)&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:7pt;color:#000000;' &gt;(254)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:145.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:7pt;color:#000000;' &gt;215&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:7pt;color:#000000;' &gt;366&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:7pt;color:#000000;' &gt;183&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:7pt;color:#000000;' &gt;764&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;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:#5AC4C4;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(2,149)&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:#5AC4C4;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(2,183)&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:#5AC4C4;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(8,094)&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:#5AC4C4;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;(12,427)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Changesinvaluecorrectionsloansandadvancesatamortizedcost>
  <bbva:Impairementlossesreconciliationsi id="ID_10305" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:9.75pt;' &gt;&lt;td colspan='6' rowspan='1' style='width:636pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:636pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#5AC4C4;' &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;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:#072146;' &gt;Not credit-impaired&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:#072146;' &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:#072146;' &gt;Total&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:29.25pt;' &gt;&lt;td style='width:261pt;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:#072146;' &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:#072146;' &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:#072146;' &gt;Credit-impaired &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#072146;' &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-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:#072146;' &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:#072146;' &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:#072146;' &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:#072146;' &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:#072146;' &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:#5AC4C4;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#FFFFFF;' &gt;Opening 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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Transfers from&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt; Stage &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;1 to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;Stage&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt; 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;(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:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Transfers from &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;Stage &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;2 (not credit - impaired) to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;Stage&lt;/font&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;(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;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:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Transfers to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;Stage&lt;/font&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;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;(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:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Transfers from &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;Stage&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt; 3 to &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#000000;' &gt;Stage&lt;/font&gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt; 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;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:middle;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#000000;' &gt;Changes without transfers between &lt;/font&gt;&lt;font style='font-family:Arial;font-size:6.9pt;font-style:italic;color:#000000;' &gt;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;(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:middle;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;(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:middle;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;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:middle;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;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:middle;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;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:middle;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;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:middle;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;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:middle;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;(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:middle;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;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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:#5AC4C4;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;tr style='height:9.75pt;' &gt;&lt;td style='width:261pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:261pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;Of which: Loans and advances&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-style:italic;color:#666666;' &gt;(12,217)&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;font-style:italic;color:#666666;' &gt;Of which: Debt certificates&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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &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;font-style:italic;color:#666666;' &gt;(46)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Impairementlossesreconciliationsi>
  <bbva:Impairementlossesreconciliationsii id="ID_10306" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:9.75pt;' &gt;&lt;td colspan='9' rowspan='1' style='width:681pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:bottom;background-color:#E9E9E9;border-color:Black;min-width:681pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#5AC4C4;' &gt;Financial assets at amortized cost. 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:177pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;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:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:5pt;font-weight:bold;color:#072146;' &gt;Opening balance&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:5pt;font-weight:bold;color:#072146;' &gt;Increases due to amounts set aside  for estimated loan losses during the year&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:5pt;font-weight:bold;color:#072146;' &gt;Decreases due to amounts  reversed for estimated loan losses during the year&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:5pt;font-weight:bold;color:#072146;' &gt;Decreases due to amounts taken against allowances&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:5pt;font-weight:bold;color:#072146;' &gt;Transfers between allowances&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:5pt;font-weight:bold;color:#072146;' &gt;Other adjustments&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:5pt;font-weight:bold;color:#072146;' &gt;Closing balance&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:5pt;font-weight:bold;color:#072146;' &gt;Recoveries  recorded directly to the statement of profit or loss&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Specific allowances for financial assets, individually and collectively estimated&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:#004481;' &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;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;(7,484)&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:#004481;' &gt;2,878&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:#004481;' &gt;4,503&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:#004481;' &gt;1,810&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:#004481;' &gt;526&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:#004481;' &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;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;558&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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: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;(144)&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;(26)&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;6&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;-&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;123&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;13&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;(28)&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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:6.6pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &gt;16&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:#808080;' &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:#808080;' &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:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;(26)&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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &gt;(16)&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:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &gt;(103)&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:#808080;' &gt;(17)&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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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: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;(10,793)&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;(7,458)&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;2,872&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;4,503&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;1,687&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;513&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;(8,675)&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;558&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &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:#808080;' &gt;(70)&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:#808080;' &gt;37&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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &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:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &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:#808080;' &gt;(287)&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:#808080;' &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:#808080;' &gt;38&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:#808080;' &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:#808080;' &gt;38&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:#808080;' &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:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:177pt;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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:63pt;text-align:right;vertical-align:middle;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &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:#808080;' &gt;(3,627)&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:#808080;' &gt;1,993&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:#808080;' &gt;3,029&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:#808080;' &gt;(228)&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:#808080;' &gt;636&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:#808080;' &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:#808080;' &gt;345&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:177pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;color:#808080;' &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:#808080;' &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:#808080;' &gt;(3,472)&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:#808080;' &gt;837&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:#808080;' &gt;1,422&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:#808080;' &gt;1,687&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:#808080;' &gt;(177)&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:#808080;' &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:#808080;' &gt;212&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:16.5pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;Collective allowances for incurred but not reported losses on financial assets&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:#004481;' &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;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:6pt;font-weight:bold;color:#004481;' &gt;(1,783)&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:#004481;' &gt;2,159&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:#004481;' &gt;1,537&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:#004481;' &gt;(1,328)&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:#004481;' &gt;557&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:#004481;' &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;border-color:Black;min-width:63pt;' &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:12.75pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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: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;(46)&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;(8)&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;30&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;1&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;-&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;3&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;(21)&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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:177pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:177pt;' &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: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;(5,224)&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;(1,776)&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;2,128&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;1,536&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;(1,328)&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;554&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;(4,109)&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;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:177pt;' &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:#5AC4C4;border-color:Black;min-width:63pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &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: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:#5AC4C4;border-color:Black;min-width:63pt;' &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;tr style='height:9.75pt;' &gt;&lt;td style='width:177pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:177pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:63pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:63pt;' &gt;&lt;font style='font-family:Arial;font-size:10pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Impairementlossesreconciliationsii>
  <bbva:Liquidityriskcoveragebyugl id="ID_10307" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&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:640.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:640.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;LCR main LMU&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:208.5pt;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:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;Group &lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;129%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;127%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#004481;' &gt;128%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.15pt;' &gt;&lt;td style='width:208.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Eurozone&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;147%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;145%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &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:208.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;147%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;154%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &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:208.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;BBVA USA (*)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;145%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;143%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &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:208.5pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:208.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Garanti BBVA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;206%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;209%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:144pt;text-align:right;vertical-align:middle;border-color:Black;min-width:144pt;' &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;</bbva:Liquidityriskcoveragebyugl>
  <bbva:Disclosureofmedicalbenefitcommitments id="ID_10308" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:558pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:558pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;Medical benefits commitments&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:30pt;' &gt;&lt;td style='width:159.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#000000;' &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:#072146;' &gt;2019&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:#072146;' &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:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:42.75pt;' &gt;&lt;td style='width:159.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#0A5FB4;' &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:center;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Defined benefit obligation&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:center;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Plan assets&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:center;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Net liability (asset)&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:center;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Defined benefit obligation&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:center;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Plan assets&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:center;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Net liability (asset)&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:center;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Defined benefit obligation&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:center;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Plan assets&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:center;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;Net liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:159.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:159.75pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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;tr style='height:9pt;' &gt;&lt;td style='width:159.75pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &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:44.25pt;border-top-style:solid;border-top-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;color:#000000;' &gt;21&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:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&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:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-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;color:#000000;' &gt;27&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:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&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:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;border-top-style:solid;border-top-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;color:#000000;' &gt;26&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:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&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:Black;min-width:44.25pt;' &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:9pt;' &gt;&lt;td style='width:159.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;119&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;123&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(4)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;116&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;109&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;8&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;101&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;112&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:159.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(71)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:159.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &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:5pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(42)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(42)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:159.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Remeasurements:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;298&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;224&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;74&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(210)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(164)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(47)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;200&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;179&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:159.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#666666;' &gt;Return on plan assets &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:5pt;color:#666666;' &gt;(2)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;224&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(224)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(164)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;164&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;21&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:9pt;' &gt;&lt;td style='width:159.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:159.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;311&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;311&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(182)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(182)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;128&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;128&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:159.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(10)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:9pt;' &gt;&lt;td style='width:159.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(39)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(39)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(34)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(35)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(33)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:159.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Business combinations and disposals&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(7)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:159.75pt;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &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:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;68&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;71&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;62&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(92)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(100)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:44.25pt;' &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:9pt;' &gt;&lt;td style='width:159.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:159.75pt;' &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:44.25pt;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;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:44.25pt;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;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:159.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:159.75pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,580&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;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;1,532&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;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;48&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;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &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:44.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:44.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;91&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Disclosureofmedicalbenefitcommitments>
  <bbva:Regulatorycapital id="ID_10309" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180">&lt;div&gt;&lt;table style='border-collapse:collapse;' &gt;&lt;tr style='height:9pt;' &gt;&lt;td colspan='4' rowspan='1' style='width:446.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:446.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#02A5A5;' &gt;Amount of capital CC1 (Millions of Euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:241.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &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:241.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#0A5FB4;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:241.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Capital and share premium &lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27,259&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27,259&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;27,259&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:241.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Retained earnings and equity instruments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;26,960&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23,773&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;23,791&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:241.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other accumulated income and other reserves&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(7,157)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(7,143)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(6,863)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:241.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Minority interests&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,404&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,809&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,446&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:241.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Net interim attributable profit&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,316&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,188&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,302&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:241.5pt;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:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Ordinary Tier 1 (CET 1) before other reglamentary adjustments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;52,783&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;50,887&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;50,935&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:241.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Goodwill and intangible assets&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(6,803)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(8,199)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(6,627)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:241.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Direct and indirect holdings in equity&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(484)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(432)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(278)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:241.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Deferred tax assets &lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,420)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,260)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(755)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:241.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Other deductions and filters&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(423)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(682)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(933)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:241.5pt;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:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Total common equity Tier 1 reglamentary adjustments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;(9,130)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;(10,573)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;(8,594)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:241.5pt;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:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Common equity TIER 1 (CET1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;43,653&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;40,313&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;42,341&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:241.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Equity instruments and share premium classified as liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,400&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,005&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;5,893&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:241.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Qualifying Tier 1 capital included in consolidated AT1 capital issued by subsidiaries and held by third parties&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;648&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;629&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;403&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:241.5pt;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:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Additional Tier 1 (CET 1) before regulatory adjustments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;6,048&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;5,634&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;6,296&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:241.5pt;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:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Temporary CET 1 adjustments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;(1,657)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:241.5pt;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:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Total regulatory adjustments of additional equity l Tier 1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &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:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &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:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;(1,657)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9.75pt;' &gt;&lt;td style='width:241.5pt;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:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Additional equity Tier 1  (AT1) &lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;6,048&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;5,634&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;4,639&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:241.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Tier 1 (Common equity TIER 1+ additional TIER 1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;49,701&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;45,947&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;46,980&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:241.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Equity instruments and share premium accounted as Tier 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,064&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;3,768&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;1,759&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:241.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Eligible equity instruments &lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,690&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;4,409&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;6,438&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:241.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Credit risk adjustments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;550&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;579&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;601&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12pt;' &gt;&lt;td style='width:241.5pt;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:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Tier 2 before regulatory adjustments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;8,304&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;8,756&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;8,798&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:241.5pt;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:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;Tier 2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;8,304&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;8,756&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#004481;' &gt;8,798&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:241.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Total capital (Total capital=Tier 1 + Tier 2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;58,005&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;54,703&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;55,778&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:241.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;Total RWA&amp;#39;s&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;364,448&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;348,264&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;font-weight:bold;color:#FFFFFF;' &gt;362,875&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:241.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;CET 1 (phased-in)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12.0%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11.6%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;11.7%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:241.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Tier 1 (phased-in)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13.6%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;13.2%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;12.9%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:241.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:241.5pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;Total capital (phased-in)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15.9%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15.7%&lt;/font&gt;&lt;/td&gt;&lt;td style='width:68.25pt;text-align:right;vertical-align:middle;border-color:Black;min-width:68.25pt;' &gt;&lt;font style='font-family:Arial;font-size:7pt;color:#000000;' &gt;15.4%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Regulatorycapital>
  <bbva:Disclosureofauditorsremunerationforotherservicesexplanatory id="ID_10310" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:572.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:572.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#01A5A5;' &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:345pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:345pt;' &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:75.75pt;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:75.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75.75pt;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:75.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75.75pt;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:75.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:13.5pt;' &gt;&lt;td style='width:345pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:345pt;' &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:75.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:75.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:75.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:Disclosureofauditorsremunerationforotherservicesexplanatory>
  <bbva:Tableofauditorremunerationandotherservicesprovided id="ID_10311" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:577.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:577.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#01A5A5;' &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:350.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:350.25pt;' &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:75.75pt;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:75.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75.75pt;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:75.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75.75pt;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:75.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:350.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:350.25pt;' &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:75.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;6.5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:75.75pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:350.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:350.25pt;' &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:75.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5.5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:75.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:350.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:350.25pt;' &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:75.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:75.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:75.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:350.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:350.25pt;' &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:75.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:75.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:75.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:350.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:350.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Assurance services and other required by the regulator&lt;/font&gt;&lt;/td&gt;&lt;td style='width:75.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:75.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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:75.75pt;text-align:right;vertical-align:middle;border-color:Black;min-width:75.75pt;' &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;</bbva:Tableofauditorremunerationandotherservicesprovided>
  <bbva:Definedbenefitsnetassetsobligations id="ID_10312" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:468.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:468.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &gt;Post-employment commitments  2019 (Millions of euros)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:266.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;&lt;/font&gt;&lt;/td&gt;&lt;td colspan='5' rowspan='1' style='width:202.5pt;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:202.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Net liability (asset)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:11.25pt;' &gt;&lt;td style='width:266.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &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:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Spain&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Mexico&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;The United States&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Turkey&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;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:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;Rest of the world&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:9pt;' &gt;&lt;td style='width:266.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:266.25pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;4,547&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;39&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;83&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;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:266.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Current service cost&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;20&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Interest income or expense&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;11&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Employer contributions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(47)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(3)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(14)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Past service costs &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:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;190&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;15&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Remeasurements:&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;231&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;9&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;16&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Return on plan assets &lt;/font&gt;&lt;sup&gt;&lt;font style='font-family:Arial;font-size:8pt;color:#808080;' &gt;(2)&lt;/font&gt;&lt;/sup&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(67)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(90)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(28)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;From changes in demographic assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(13)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;From changes in financial assumptions&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;239&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;87&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;42&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(41)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#666666;' &gt;Other actuarial gain and losses&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;59&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;12&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;51&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Benefit payments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(702)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(2)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(11)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Business combinations and disposals&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;7&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Effect on changes in foreign exchange rates&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(9)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:266.25pt;' &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:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;14&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;(1)&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:40.5pt;' &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:9pt;' &gt;&lt;td style='width:266.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:266.25pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &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:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;52&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;86&lt;/font&gt;&lt;/td&gt;&lt;td style='width:40.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#5AC4C4;border-color:Black;min-width:40.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;38&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</bbva:Definedbenefitsnetassetsobligations>
  <bbva:Disclosureofplanofassetsbreakdown id="ID_10313" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:771pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:771pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#02A5A5;' &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:334.5pt;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:334.5pt;' &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:145.5pt;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:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;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:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;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:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:334.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:334.5pt;' &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:145.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;56&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;26&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;68&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:334.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:334.5pt;' &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:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &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:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,080&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2,178&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:334.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:334.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Property&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &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:12.75pt;' &gt;&lt;td style='width:334.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:334.5pt;' &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:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;2&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &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:12.75pt;' &gt;&lt;td style='width:334.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:334.5pt;' &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:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;142&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;132&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &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:12.75pt;' &gt;&lt;td style='width:334.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:334.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;Other investments&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &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:13.5pt;' &gt;&lt;td style='width:334.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#09C4C4;border-color:Black;min-width:334.5pt;' &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:145.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#09C4C4;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,869&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#09C4C4;border-color:Black;min-width:145.5pt;' &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;td style='width:145.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;background-color:#09C4C4;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#FFFFFF;' &gt;2,261&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:334.5pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:middle;border-color:Black;min-width:334.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which: Bank account in BBVA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;4&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;3&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;5&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:12.75pt;' &gt;&lt;td style='width:334.5pt;text-align:left;vertical-align:middle;border-color:Black;min-width:334.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#787878;' &gt;Of which: Debt securities issued by BBVA&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-style:italic;color:#808080;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:145.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:145.5pt;' &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:Disclosureofplanofassetsbreakdown>
  <bbva:Tableofauditorremunerationexplanatory id="ID_10314" contextRef="FROM_Jan01_2019_TO_Dec31_2019_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:597.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;vertical-align:middle;background-color:#E9E9E9;border-color:Black;min-width:597.75pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#01A5A5;' &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:350.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:350.25pt;' &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:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;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:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;font-weight:bold;color:#072146;' &gt;2017&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style='height:21.75pt;' &gt;&lt;td style='width:350.25pt;border-top-style:solid;border-top-width:1;text-align:left;vertical-align:bottom;border-color:Black;min-width:350.25pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;28.1&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;border-top-style:solid;border-top-width:1;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:36.75pt;' &gt;&lt;td style='width:350.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:350.25pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:11.25pt;' &gt;&lt;td style='width:350.25pt;text-align:left;vertical-align:bottom;border-color:Black;min-width:350.25pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &gt;&lt;font style='font-family:Arial;font-size:8pt;color:#000000;' &gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style='width:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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:82.5pt;text-align:right;vertical-align:middle;border-color:Black;min-width:82.5pt;' &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;/table&gt;&lt;/div&gt;</bbva:Tableofauditorremunerationexplanatory>
  <ifrs-full:Assets id="ID_10315" contextRef="AS_OF_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">698690000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10316" contextRef="AS_OF_Dec31_2018_Entity_0000842180" unitRef="EUR" decimals="INF">676689000000</ifrs-full:Assets>
  <ifrs-full:Assets id="ID_10317" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="INF">690059000000</ifrs-full:Assets>
  <ifrs-full:ProfitLossAttributableToOwnersOfParent id="ID_10318" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">3512000000</ifrs-full:ProfitLossAttributableToOwnersOfParent>
  <ifrs-full:ProfitLossAttributableToOwnersOfParent id="ID_10319" contextRef="FROM_Jan01_2017_TO_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="INF">3514000000</ifrs-full:ProfitLossAttributableToOwnersOfParent>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_10320" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Aaa1Member" unitRef="EUR" decimals="INF">531000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_10321" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Aa1Member" unitRef="EUR" decimals="INF">13100000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_10322" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AA2Member" unitRef="EUR" decimals="INF">222000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_10323" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AA3Member" unitRef="EUR" decimals="INF">409000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_10324" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_AMember" unitRef="EUR" decimals="INF">632000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_10325" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_A1Member" unitRef="EUR" decimals="INF">687000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_10326" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_A2Member" unitRef="EUR" decimals="INF">18426000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_10327" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb4Member" unitRef="EUR" decimals="INF">9195000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_10328" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb5Member" unitRef="EUR" decimals="INF">4607000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_10329" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_Bbb3Member" unitRef="EUR" decimals="INF">1003000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_10330" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_BbMember" unitRef="EUR" decimals="INF">4453000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Subtotaldebtinstrumentsavailableforsale id="ID_10331" contextRef="AS_OF_Dec31_2018_Entity_0000842180_bbva_LevelratingaxisAxis_bbva_WithoutratingMember" unitRef="EUR" decimals="INF">445000000</bbva:Subtotaldebtinstrumentsavailableforsale>
  <bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1 id="ID_10332" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_US_bbva_TypeofequityinstrumentaxisAxis_bbva_ForeigncompanysharesMember" unitRef="EUR" decimals="INF">0</bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Subtotalequityinstrumentsavailableforsale id="ID_10333" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_US_bbva_TypeofequityinstrumentaxisAxis_bbva_ForeigncompanysharesMember" unitRef="EUR" decimals="INF">11000000</bbva:Subtotalequityinstrumentsavailableforsale>
  <bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1 id="ID_10334" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_MX_bbva_TypeofequityinstrumentaxisAxis_bbva_ForeigncompanysharesMember" unitRef="EUR" decimals="INF">0</bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Subtotalequityinstrumentsavailableforsale id="ID_10335" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_MX_bbva_TypeofequityinstrumentaxisAxis_bbva_ForeigncompanysharesMember" unitRef="EUR" decimals="INF">33000000</bbva:Subtotalequityinstrumentsavailableforsale>
  <bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1 id="ID_10336" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_TK_bbva_TypeofequityinstrumentaxisAxis_bbva_ForeigncompanysharesMember" unitRef="EUR" decimals="INF">0</bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Subtotalequityinstrumentsavailableforsale id="ID_10337" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_TK_bbva_TypeofequityinstrumentaxisAxis_bbva_ForeigncompanysharesMember" unitRef="EUR" decimals="INF">5000000</bbva:Subtotalequityinstrumentsavailableforsale>
  <bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1 id="ID_10338" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_OtherCountriesMember_bbva_TypeofequityinstrumentaxisAxis_bbva_ForeigncompanysharesMember" unitRef="EUR" decimals="INF">-7000000</bbva:Unrealizedlossesequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Subtotalequityinstrumentsavailableforsale id="ID_10339" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_OtherCountriesMember_bbva_TypeofequityinstrumentaxisAxis_bbva_ForeigncompanysharesMember" unitRef="EUR" decimals="INF">192000000</bbva:Subtotalequityinstrumentsavailableforsale>
  <bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1 id="ID_10340" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_US_bbva_TypeofequityinstrumentaxisAxis_bbva_ForeigncompanysharesMember" unitRef="EUR" decimals="INF">11000000</bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1 id="ID_10341" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_US_bbva_TypeofequityinstrumentaxisAxis_bbva_ForeigncompanysharesMember" unitRef="EUR" decimals="INF">0</bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1 id="ID_10342" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_MX_bbva_TypeofequityinstrumentaxisAxis_bbva_ForeigncompanysharesMember" unitRef="EUR" decimals="INF">8000000</bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1 id="ID_10343" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_MX_bbva_TypeofequityinstrumentaxisAxis_bbva_ForeigncompanysharesMember" unitRef="EUR" decimals="INF">25000000</bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1 id="ID_10344" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_TK_bbva_TypeofequityinstrumentaxisAxis_bbva_ForeigncompanysharesMember" unitRef="EUR" decimals="INF">4000000</bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1 id="ID_10345" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_country_TK_bbva_TypeofequityinstrumentaxisAxis_bbva_ForeigncompanysharesMember" unitRef="EUR" decimals="INF">1000000</bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1 id="ID_10346" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_OtherCountriesMember_bbva_TypeofequityinstrumentaxisAxis_bbva_ForeigncompanysharesMember" unitRef="EUR" decimals="INF">192000000</bbva:Amortizedcostequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1 id="ID_10347" contextRef="AS_OF_Dec31_2017_Entity_0000842180_bbva_GeographyequityinstrumentsAxis_bbva_OtherCountriesMember_bbva_TypeofequityinstrumentaxisAxis_bbva_ForeigncompanysharesMember" unitRef="EUR" decimals="INF">7000000</bbva:Unrealizedgainsequityinstrumentsavailableforsalefinancialassets1>
  <bbva:Securitizedmortgageassets id="ID_10348" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180" unitRef="EUR" decimals="INF">26169000000</bbva:Securitizedmortgageassets>
  <bbva:Tangibleassets id="ID_10349" contextRef="AS_OF_Dec31_2017_Entity_0000842180" unitRef="EUR" decimals="INF">7191000000</bbva:Tangibleassets>
  <ifrs-full:ProvisionsForEmployeeBenefits id="ID_10350" contextRef="AS_OF_Dec31_2016_Entity_0000842180" unitRef="EUR" decimals="INF">6025000000</ifrs-full:ProvisionsForEmployeeBenefits>
  <ifrs-full:CurrentServiceCostNetDefinedBenefitLiabilityAsset id="ID_10351" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofnetdefinedbenefitliabilityassetbycountryAxis_country_MX_ifrs-full_NetDefinedBenefitLiabilityAssetAxis_ifrs-full_PresentValueOfDefinedBenefitObligationMember" unitRef="EUR" decimals="INF">4000000</ifrs-full:CurrentServiceCostNetDefinedBenefitLiabilityAsset>
  <ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset id="ID_10352" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofnetdefinedbenefitliabilityassetbycountryAxis_country_MX_ifrs-full_NetDefinedBenefitLiabilityAssetAxis_ifrs-full_PresentValueOfDefinedBenefitObligationMember" unitRef="EUR" decimals="INF">53000000</ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset>
  <ifrs-full:ContributionsToPlanNetDefinedBenefitLiabilityAsset id="ID_10353" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofnetdefinedbenefitliabilityassetbycountryAxis_country_MX_ifrs-full_NetDefinedBenefitLiabilityAssetAxis_ifrs-full_PresentValueOfDefinedBenefitObligationMember" unitRef="EUR" decimals="INF">0</ifrs-full:ContributionsToPlanNetDefinedBenefitLiabilityAsset>
  <ifrs-full:ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset id="ID_10354" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofnetdefinedbenefitliabilityassetbycountryAxis_country_MX_ifrs-full_NetDefinedBenefitLiabilityAssetAxis_ifrs-full_PresentValueOfDefinedBenefitObligationMember" unitRef="EUR" decimals="INF">0</ifrs-full:ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset>
  <ifrs-full:PastServiceCostNetDefinedBenefitLiabilityAsset id="ID_10355" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofnetdefinedbenefitliabilityassetbycountryAxis_country_MX_ifrs-full_NetDefinedBenefitLiabilityAssetAxis_ifrs-full_PresentValueOfDefinedBenefitObligationMember" unitRef="EUR" decimals="INF">15000000</ifrs-full:PastServiceCostNetDefinedBenefitLiabilityAsset>
  <ifrs-full:GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset id="ID_10356" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofnetdefinedbenefitliabilityassetbycountryAxis_country_MX_ifrs-full_NetDefinedBenefitLiabilityAssetAxis_ifrs-full_PresentValueOfDefinedBenefitObligationMember" unitRef="EUR" decimals="INF">99000000</ifrs-full:GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset>
  <ifrs-full:ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset id="ID_10357" contextRef="FROM_Jan01_2019_TO_Dec31_2019_Entity_0000842180_bbva_DisclosureofnetdefinedbenefitliabilityassetbycountryAxis_country_MX_ifrs-full_NetDefinedBenefitLiabilityAssetAxis_ifrs-full_PresentValueOfDefinedBenefitObligationMember" unitRef="EUR" decimals="INF">0</ifrs-full:ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset>
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